HomeMy WebLinkAboutR-20-0037City of Miami
Resolution R-20-0037
Legislation
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 6899 Final Action Date: 2/13/2020
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
BY A FOUR -FIFTHS (4/5THS) AFFIRMATIVE VOTE, PURSUANT TO SECTION
18-85(A) OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED
("CITY CODE"), AFTER AN ADVERTISED PUBLIC HEARING, RATIFYING,
APPROVING, AND CONFIRMING THE CITY MANAGER'S FINDING,
ATTACHED AND INCORPORATED AS EXHIBIT "A", WAIVING THE
REQUIREMENTS OF COMPETITIVE SEALED BIDDING PROCEDURES AS
NOT PRACTICABLE AND NOT ADVANTAGEOUS TO THE CITY OF MIAMI
("CITY") AND APPROVING THE PROCUREMENT FOR THE CITY'S FINANCE
DEPARTMENT OF A FINANCIAL SERVICE INFORMATION, DATA,
SOFTWARE, AND EQUIPMENT TERMINAL SYSTEM FROM BLOOMBERG
FINANCE L.P. ("BLOOMBERG"); ALLOCATING AND APPROPRIATING
FUNDS FROM THE FINANCE DEPARTMENT'S BUDGET ACCOUNT NO.
00001.162000.534000.0000.00000, SUBJECT TO THE AVAILABILITY OF
FUNDS AND BUDGETARY APPROVAL AT THE TIME OF NEED;
AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE, IN A
FORM ACCEPTABLE TO THE CITY ATTORNEY, A BLOOMBERG TERMINAL
USE AGREEMENT WITH BLOOMBERG FOR A TERM OF NOT TO EXCEED
TWO (2) YEARS FOR AN ANNUAL USE FEE NOT TO EXCEED TWENTY-
SEVEN THOUSAND DOLLARS ($27,000.00) PER YEAR FOR A TOTAL
AUTHORIZED AMOUNT NOT TO EXCEED FIFTY-FOUR THOUSAND
DOLLARS ($54,000.00) IN ACCORDANCE WITH BLOOMBERG'S QUOTE;
FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND
EXECUTE ANY AND ALL OTHER DOCUMENTS, INCLUDING ANY
AMENDMENTS, RENEWALS, MODIFICATIONS, AND EXTENSIONS,
SUBJECT TO FUTURE ALLOCATIONS, APPROPRIATIONS, AND
BUDGETARY APPROVALS AT TIME OF NEED HAVING BEEN PREVIOUSLY
MADE, IN COMPLIANCE WITH APPLICABLE PROVISIONS OF THE CITY
CODE, INCLUDING THE CITY'S PROCUREMENT ORDINANCE, ANTI -
DEFICIENCY ACT, AND FINANCIAL INTEGRITY PRINCIPLES, ALL AS SET
FORTH IN CHAPTER 18 OF THE CITY CODE, ALL IN A FORM ACCEPTABLE
TO THE CITY ATTORNEY, AND IN COMPLIANCE WITH APPLICABLE LAWS,
AS MAY BE NECESSARY FOR SAID PURPOSE.
WHEREAS, pursuant to Section 18-85(a) of the Code of the City of Miami, Florida, as
amended ("City Code"), the City Manager has made a finding, attached and incorporated as
Exhibit "A," that competitive sealed bidding is not practicable and is not advantageous to the
City of Miami ("City") in order for the City's Finance Department ("Department") to procure and
to obtain the usage of a financial service information, data, software, and equipment terminal
system (collectively, "Bloomberg Terminal") from Bloomberg Finance L.P. ("Bloomberg"); and
City of Miami Page 1 of 3 File ID: 6899 (Revision: A) Printed On: 4/29/2025
File ID: 6899 Enactment Number: R-20-0037
WHEREAS, the Department believes that it can earn the City increased basis points on
each investment by providing for designated Department staff to negotiate with hundreds of
Bloomberg brokers with the use of the Bloomberg Terminal; and
WHEREAS, the Department believes that the Bloomberg Terminal is the best resource
for trading solutions, research, and networking because it offers trading solutions across
multiple asset classes and sophisticated pre- and post -trade analytics for both the buy side and
sell side with a membership community of over 320,000 potential trading partners that
encompasses a broad range of research offerings including direct access to sell -side and
independent research from more than 1,500 sources, as well as proprietary, analyst -driven
research; and
WHEREAS, on November 18, 2019, the Department reviewed with the Finance
Committee the advantages of the Bloomberg Terminal and the Finance Committee approved
same; and
WHEREAS, following a published notice made at least fifteen (15) days prior to the
award, the City Commission is ratifying and approving by a four -fifths (4/5th) affirmative vote, the
waiver of competitive sealed bidding procedures for the procurement by the City of the
Bloomberg Terminal for a period of two (2) years at a not to exceed amount of Twenty -Seven
Thousand Dollars ($27,000.00) per year for a total of not to exceed amount of Fifty -Four
Thousand Dollars ($54,000.00) in accordance with Bloomberg's quote;
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. By a four -fifths (4/5ths) affirmative vote, pursuant to Section 18-85(a) of the
City Code, after an advertised public hearing, the City Manager's finding, attached and
incorporated as Exhibit "A", that the requirements of competitive sealed bidding procedures are
not practicable and are not advantageous to the City is ratified, approved, and confirmed, the
requirements for competitive sealed bidding procedures are waived, and the request to
purchase for the City's Finance Department the Bloomberg Terminal from Bloomberg is
approved.
Section 3. Funds from the Finance Department's Budget Account No.
00001.162000.534000.0000.00000, subject to the availability of funds and budgetary approvals
at the time of need, are allocated and appropriated.
Section 4. The City Manager is authorized' to negotiate and execute, in a form
acceptable to the City Attorney, a Bloomberg Terminal Use Agreement with Bloomberg for a
term of not to exceed two (2) years for an annual use fee not to exceed Twenty -Seven
Thousand Dollars ($27,000.00) per year for a total authorized amount not to exceed Fifty -Four
Thousand Dollars ($54,000.00) in accordance with Bloomberg's quote.
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 City Code
provisions.
City of Miami Page 2 of 3 File ID: 6899 (Revision: A) Printed on: 4/29/2025
File ID: 6899 Enactment Number: R-20-0037
Section 5. The City Manager is further authorized' to negotiate and execute any and all
other documents, including any amendments, renewals, modifications, and extensions, subject
to allocations, appropriations, and budgetary approvals at time of need having been previously
made, in compliance with applicable provisions of the City Code, including the City's
Procurement Ordinance, Anti -Deficiency Act, and Financial Integrity Principles, all as set forth in
Chapter 18 of the City Code, in a form acceptable to the City Attorney, and in compliance with
applicable laws as may be necessary for said purpose.
Section 6. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
12/27/2019 ria r dez ity Attor
ley ) 1/31/2020
City of Miami Page 3 of 3 File ID: 6899 (Revision: A) Printed on: 4/29/2025