HomeMy WebLinkAboutR-16-0207City of Miami
Legislation
Resolution: R-16-0207
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 16-00396 Final Action Date: 4/28/2016
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
ACCEPTING THE PROPOSALS RECEIVED ON DECEMBER 16, 2015 AND THE
RECOMMENDATION OF THE CITY MANAGER APPROVING THE FINDINGS OF
THE EVALUATION COMMITTEE, PURSUANT TO CITY OF MIAMI ("CITY")
REQUEST FOR QUALIFICATIONS, INCLUDING ALL ADDENDA THERETO
(COLLECTIVELY, "RFQ") NO. 521381 FOR THE ESTABLISHMENT OF A
MUNICIPAL BOND UNDERWRITING SERVICES POOL ("POOL") WITH FOURTEEN
(14) FIRMS AS LISTED ON "ATTACHMENT 1", ATTACHED AND INCORPORATED
HERETO, FOR THE PROVISION OF MUNICIPAL BOND UNDERWRITING
SERVICES FOR THE CITY'S FINANCE DEPARTMENT; AUTHORIZING THE CITY
MANAGER TO EXECUTE A PROFESSIONAL SERVICES AGREEMENT
("AGREEMENT(S)"), IN SUBSTANTIALLY THE ATTACHED FORM, WITH EACH
FIRM IN THE POOL FOR AN INITIAL PERIOD OF FOUR (4) YEARS, WITH THE
OPTION TO RENEW FOR UP TO FOUR (4) ADDITIONAL ONE (1) YEAR PERIODS;
FURTHER AUTHORIZING THE CITY MANAGER TO ACCEPT ADMINISTRATIVELY
AN ASSIGNMENT, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, OF ANY
EXECUTED AGREEMENT FROM ONE POOL FIRM TO ANOTHER POOL FIRM
WITHOUT FURTHER CITY COMMISSION ACTION, UNLESS THE ASSIGNEE OF
SAID AGREEMENT IS NOT A FINANCIAL INSTITUTION EVALUATED IN THIS RFQ
PROCESS; AUTHORIZING THE ALLOCATION OF FUNDS TO BE DETERMINED AT
SUCH TIME OF ANY FUTURE FINANCING THROUGH THE PROCEEDS OF THE
MUNICIPAL BONDS TO BE ISSUED.
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. 521381, 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 recommended the establishment of a Municipal
Bond Underwriting Services Pool ("Pool") with the fourteen (14) pre -qualified firms identified on
"Attachment 1", attached and incorporated hereto, for the provision of Municipal Bond Underwriting
Services from time to time as needed; and
WHEREAS, it is in the best interest of the City to authorize the City Manager to execute with each
firm in the Pool a Professional Services Agreement ("Agreement(s)"), in substantially the attached
form, for an initial term of four (4) years with the options to renew for up to four (4) additional one (1)
year periods; and
City of Miami
Page 1 of 3 File Id: 16-00396 (Version: 11 Printed On: 5/3/2018
File Number: 16-00396 Enactment Number: R-16-0207
WHEREAS, funds are to be allocated through the proceeds of the municipal bonds being issued,
as to be determined in the future by the City Manager, Chief Financial Officer, and Finance
Department, to the particular financing in which any such Pool member is participating at that time;
and
WHEREAS, the City Manager is authorized to accept administratively an assignment, in a form
acceptable to the City Attorney, of any executed Agreement from one Pool firm to another Pool firm
without further City Commission action, unless the assignee of said Agreement is not a financial
institution evaluated in this RFQ process;
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 if fully set forth in this Section.
Section 2. The proposals received on December 16, 2015 and the recommendation of the City
Manager approving the findings of the Evaluation Committee, pursuant to City RFQ No. 521381 for
the establishment of the Pool with fourteen (14) firms as listed on "Attachment 1", attached and
incorporated hereto, 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 a Professional Services Agreement
("Agreement(s)"), in substantially the attached form, with each firm in the Pool for an initial period of
four (4) years, with the option to renew for up to four (4) additional one (1) year periods.
Section 4. The City Manager is further authorized to accept administratively an assignment, in a
form acceptable to the City Attorney, of any executed Agreement from one Pool firm to another Pool
firm without further City Commission action, unless the assignee of said Agreement is not a financial
institution evaluated in this RFQ process.
Section 5. The allocation of funds to be determined at such time of any future financing through
the proceeds of the municipal bonds to be issued, is authorized.
Section 6. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor. {2}
Footnotes:
City of Miami Page 2 of 3 File Id: 16-00396 (Version: 11 Printed On: 5/3/2018
File Number: 16-00396 Enactment Number: R-16-0207
{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} This Resolution shall become effective as specified herein unless vetoed by the Mayor within (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 3 of 3 File Id: 16-00396 (Version: 11 Printed On: 5/3/2018