HomeMy WebLinkAboutLegislationCity of Miami
Legislation
Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 14-01121 Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
ACCEPTING THE RECOMMENDATION OF THE CITY MANAGER APPROVING
THE RECOMMENDATIONS AND FINDINGS OF THE EVALUATION COMMITTEE,
PURSUANT TO REQUEST FOR QUALIFICATIONS AND ALL ADDENDA THERETO
(COLLECTIVELY, "RFQ") NO. 414312 THAT THE VARIOUS RESPONSES OF A
PRE -QUALIFIED POOL OF MUNICIPAL BOND UNDERWRITING FIRMS AS LISTED
ON "ATTACHMENT 1", ATTACHED AND INCORPORATED ("UNDERWRITING
FIRMS"), FOR BOTH FINANCIAL CAPITAL BEFORE HAIRCUT "A" AND
FINANCIAL CAPITAL BEFORE HAIRCUT "B," FOR THE PROVISION OF
MUNICIPAL BOND UNDERWRITING SERVICES FOR THE CITY OF MIAMI ("CITY")
FINANCE DEPARTMENT; AUTHORIZING THE CITY MANAGER TO EXECUTE
FROM TIME TO TIME WITH ONE OR MORE OF THE UNDERWRITING FIRMS A
PROFESSIONAL SERVICES AGREEMENT, IN SUBSTANTIALLY THE ATTACHED
FORM ("PSA"), ON AN AS -NEEDED PROJECT BASIS, FOR AN INITIAL PERIOD
OF THREE (3) YEARS, WITH AN OPTION TO RENEW FOR TWO (2) ADDITIONAL
ONE (1) YEAR PERIODS; ALLOCATING FUNDS FOR THE UNDERWRITING
FIRMS, THROUGH THE PROCEEDS OF MUNICIPAL BONDS ISSUED; FURTHER
AUTHORIZING THE CITY MANAGER TO ADMINISTRATIVELY ACCEPT AN
ASSIGNMENT, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, OF ANY
EXECUTED PSA WITHOUT FURTHER CITY COMMISSION ACTION, UNLESS THE
ASSIGNEE OF SAID PSA IS NOTA FINANCIAL INSTITUTION EVALUATED IN SAID
RFQ NO. 414312 PROCESS.
WHEREAS, the City of Miami ("City") needs Municipal Bond Underwriting Services in connection
with the advancement of the City's Capital Improvement Program, with the purpose of developing a
structure and overall marketing strategy on municipal bond transactions; and
WHEREAS, pursuant to Section 18-86(c)(6) of the Code of the City of Miami, Florida, as amended
("City Code"), the City issued Request for Qualifications, including all Addenda thereto (collectively,
"RFQ") No. 414312, sought proposals from qualified and experienced municipal bond underwriting
firms to provide Municipal Bond Underwriting Services on an as -needed basis, and the City Manager
appointed an Evaluation Committee; and
WHEREAS, the City's Evaluation Committee found that the RFQ No. 414312 proposals of various
municipal bond underwriting firms were responsive and responsible and the Evaluation Committee
recommended various pre -qualified proposers identified on "Attachment 1", attached and incorporated
(the "Underwriting Firms"), for the provision of Municipal Bond Underwriting Services; and
WHEREAS, it is in the best interests of the City to authorize the City Manager to execute from time
to time with one or more of the Underwriting Firms a Professional Services Agreement ("PSA"), in
substantially the attached form, on an as -needed basis, for an initial term of three (3) years with
options to renew for two (2) additional one (1) year periods; and
City of Miami Page 1 of 2 File Id: 14-01121 (Version: 1) Printed On: 11/25/2014
File Number: 14-01121
WHEREAS, it is also in the best interests of the City to authorize the City Manager to
administratively accept an assignment, in a form acceptable to the City Attorney, of any executed PSA
without further City Commission action, unless the assignee of said PSA is not a financial institution
evaluated in said RFQ No. 414312 process; and
WHEREAS, funds are allocated for said Underwriting Firms through the proceeds of municipal
bonds issued;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by
reference and incorporated as fully set forth in this Section.
Section 2. The recommendation of the City Manager approving the recommendations and findings
of the Evaluation Committee, pursuant to Request for Qualifications including all Addenda thereto
(collectively, "RFQ") No. 414312, that the various responses of a pre -qualified pool of municipal bond
underwriting firms as listed on "Attachment 1", attached and incorporated ("Underwriting Firms"), for
both financial Capital Before Haircut "A," and financial Capital Before Haircut "B" for the provision of
municipal bond underwriting services for the City's Finance Department, is accepted.
Section 3. The City Manager is authorized{1} to execute from time to time with one or more of the
Underwriting Firms a Professional Services Agreement, in substantially the attached form ("PSA"), on
an as -needed basis, for an initial period of three (3) years, with the option to renew for up to two (2)
additional one (1) year periods, with funds allocated for the Underwriting Firms through the proceeds
of municipal bonds issued.
Section 4. The City Manager is further authorized{1} to administratively accept an assignment, in a
form acceptable to the City Attorney, of any executed PSA without further City Commission action,
unless the assignee of said PSA is not a financial institution evaluated in said RFQ No. 414312
process.
Section 5. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor. {2}
APPROVED S TO FQRM AND CORRECTNESS:
0
VICTORIA ME DEZ
CITY ATTORNEY
Footnotes:
{1} The herein authorization is further subject to compliance with all requirements that may be
imposed by the City Attorney, including but not limited to those prescribed by applicable City Charter
and Code provisions.
{2} If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar
days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become
effective immediately upon override of the veto by the City Commission.
City of Miami Page 2 of 2 File Id: 14-01121 (Version: 1) Printed On: 11/25/2014