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2014-28461 Reso RESOLUTION NO. 2014-28461 A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, AUTHORIZING THE ISSUANCE OF A REQUEST FOR PROPOSALS (RFP) FOR INVESTMENT ADVISORY SERVICES; AND AUTHORIZING A MONTH-TO-MONTH EXTENSION TO CUTWATER ASSET MANAGEMENT (F/IUA MBIA MUNICIPAL INVESTORS SERVICE CORPORATION ADVISORY SERVICES) AGREEMENT UNTIL A NEW CONTRACT IS AWARDED AND EXECUTED WHEREAS, on May 13, 2009, the City Commission approved Resolution No. 2009- 27066, authorizing the City to enter into a professional services agreement with Cutwater Asset Management (F/K/A MBIA Municipal Investors Service Corp.) to provide investment advisory services (the Agreement) ; and WHEREAS, on February 1, 2014, said Agreement will expire and the City is seeking to solicit proposals for an investment advisor to be selected as the City's Investment Advisor; and WHEREAS, the Administration requests authorization to issue the attached Request for Proposal (RFP) for an Investment Advisor, and further requests that the City Commission approve a month-to-month extension of the City's current Agreement with Cutwater Asset Management until such time as a new contract is awarded and entered into. NOW, THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the Mayor and City Commission hereby authorize the issuance of a Request for Proposals for an Investment Advisor, and further approve and authorize a month-to-month extension of the City's current Agreement with Cutwater Asset Management until such time as a new contract is awarded and entered into. PASSED AND ADOPTED this is 40� day of 7oh*Ott 2014. ATTEST: /V 0�/ Rafa I Granado, City Clerk hE ip ev' e :INCORP ORATED TAAGENDA\2014\January\Procurement\In Vita..... rY i an 2014 APPROVED AS TO FORM &LANGUAGE &FOR EXECUTION ,�City ornell G.• Date COMMISSION ITEM SUMMARY Condensed Title: A Resolution Of The Mayor And City Commission Of The City Of Miami Beach, Florida, Authorizing The Issuance Of A Request For Proposals(RFP)For Investment Advisory Services;And Authorizing A Month- To-Month Extension To Cutwater Asset Management (F/K/A MBIA Municipal Investors Service Corp.) Agreement Until A New Contract Is Awarded And Executed. Key Intended Outcome Supported: Improve the City's Overall Financial Health and Maintain Overall Bond Rating Supporting Data (Surveys, Environmental Scan,etc.): N/A Item Summa /Recommendation: The City is seeking proposals from firms interested in providing investment advisory services to manage and direct the City's investments.The successful firm would manage and direct the investment of excess funds in accordance with the City's investment objectives as set forth in City of Miami Beach's Investment Policy. The key objectives of the City's investment policy are safety of capital, sufficient liquidity to meet requirements and attaining market—average rates of return. Excess funds are defined as funds not required to meeting short term expenditures of the City. Currently,funds available for investment consist of approximately$522 million which include: $346 million from operating funds,$103 million from various bond proceeds, and $73 million from the Miami Beach Redevelopment Agency(RDA). The City expects its investment advisor to be highly experienced, a leader and innovator in the management of investments, and able to provide comprehensive investment advisory services.The firm selected as the investment advisor and its affiliates will be restricted from selling to the City,or buying from the City,any securities to or from that firm's own inventory or account. The investment advisor will also be restricted from placing into the City's portfolio any securities for which it, or an affiliate, is the issuer. Investment advisors will not provide custodial services or security safekeeping. All City investments, except for swap agreements must be held in an independent custodial account. Fees for such services are competitive and would be paid from additional investment earnings. The contract term will be for five (5) years, with five (5) one (1) year renewal options at the sole option and discretion of the City. RECOMMENDATION Based on the aforementioned, the Administration recommends that the City Commission approve the issuance of an RFP for Investment Advisory Services and extend the existing agreement on a month to month basis with Cutwater Asset Management F/K/A MBIA Municipal Investors Service Corp. Advisory Board Recommendation: N/A Financial Information: Source of Amount Account Approved Funds: 2:- ORPI Total Financial Impact Summary: N/A City Clerk's Office Legislative Tracking: Alex Denis, Extension 6641 Sign-Offs: D partment 0irector Ass'stant City.M tiger City::$, anWer Apo Z_ GE AD PDW It, KGB JLM T:WGENDA 014\January\ o urement\Investment Advisory RFP Summ-Jan 201 AGENDA ITEM ?f MIAMIE5EACH DATE �-� ' MIAMI BEACH City of Miami Beath, 1700 Convention Center Drive,Miami Beach, Florida 33139,www.miamibeachfl.gov COMMISSION MEMORANDUM TO: Mayor Philip Levine and Members of he City Com ission FROM: Jimmy L. Morales, City Manager DATE: January 15, 2014 SUBJECT: A RESOLUTION OF THE MAYOR ND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, A THORIZING THE ISSUANCE OF A REQUEST FOR PROPOSALS (RFP) FOR INVESTMENT ADVISORY SERVICES; AND AUTHORIZING A MONTH-TO-MONTH EXTENSION TO CUTWATER ASSET MANAGEMENT (F/K/A MBIA MUNICIPAL INVESTORS SERVICE CORP.) AGREEMENT UNTIL A NEW CONTRACT IS AWARDED AND EXECUTED ADMINISTRATION RECOMMENDATION Approve issuance of the RFP. ANALYSIS The City is seeking proposals from firms interested in providing investment advisory services to manage and direct the City's investments. The successful firm would manage and direct the investment of excess funds in accordance with the City's investment objectives as set forth in City of Miami Beach's Investment Policy. The key objectives of the City's investment policy are safety of capital, sufficient liquidity to meet requirements and attaining market—average rates of return. Excess funds are defined as funds not required to meeting short term expenditures of the City. Currently, funds available for investment consist of approximately $522 million which include: $346 million from operating funds, $103 million from various bond proceeds, and $73 million from the Miami Beach Redevelopment Agency (RDA). The City expects its investment advisor to be highly experienced, a leader and innovator in the management of investments, and able to provide comprehensive investment advisory services. The firm selected as the investment advisor and its affiliates will be restricted from selling to the City, or buying from the City, any securities to or from that firm's own inventory or account. The investment advisor will also be restricted from placing into the City's portfolio any securities for which it, or an affiliate, is the issuer. Investment advisors will not provide custodial services or security safekeeping. All City investments, except for swap agreements must be held in an independent custodial account. Fees for such services are competitive and would be paid from additional investment earnings. The contract term will be for five (5) years, with five (5) one (1) year renewal options at the sole option and discretion of the City. Commission Memorandum - Investment Advisory Services RFP January 15, 2014 Page 2 The City requires that the selected Investment Advisor, at a minimum, provide the following services: The City expects its investment advisor to be highly experienced, a leader and innovator in the management of investments, and able to provide comprehensive investment advisory services. The firm selected as the investment advisor and its affiliates will be restricted from selling to the City, or buying from the City, any securities to or from that firm's own inventory or account. The investment advisor will also be restricted from placing into the City's portfolio any securities for which it, or an affiliate, is the issuer. Investment advisors will not provide custodial services or security safekeeping. All City investments, except for swap agreements must be held in an independent custodial account. Provide full-time management on a daily basis of the City's investment portfolio pursuant to the specific stated investment objectives and the City's Investment Policy. Place all orders for the purchase and sale of securities, communicate settlement information to City staff and assist in coordinating security settlement. Serve as a general resource to City staff for information, advice and training regarding fixed income securities; investment and yield curve analysis. Work with City staff to develop cash flow projections to ensure that the investment strategy is consistent with the City's cash requirements. Provide monthly statements detailing investment activity, earnings, the value of the investment portfolio, a portfolio return, mark to market valuation, and weighted average maturity, accrued interest by investment type, rating of investment by Standards & Poor's and Moody's. The selected investment advisor must maintain accurate reports including portfolio composition showing diversity of investments and compliance with applicable investment policies of the City of Miami Beach and State of Florida Statutes. Develop and implement investment strategies for the Advisory Account that will seek to enhance portfolio performance under current and future market conditions within the parameters of the City's investment policy and cash flow needs. Obtain and document competitive prices for securities transactions. Provide semi-annual and annual portfolio performance reports. Review and update the City's investment policy and written investment procedures. Perform due diligence reviews of current and proposed broker/dealers. Monitor the creditworthiness of the City's depository and custodian bank and investments in the portfolio. Provide client training on investment management subjects. Attend meetings with the City's finance staff and governing body upon request. Provide arbitrage calculations and reports on the investment of bond proceeds. f Commission Memorandum - Investment Advisory Services RFP January 15, 2014 Page 3 Maturity and Liquidity Requirements The City selects investments whose terms compliment the need to make the majority expenditures set forth below. 1. Biweekly Payrolls 2. Periodic Debt Service Payments 3. Capital Project Needs For each expenditure event, investments are selected whose maturities occur at a date close to the date that funds will be needed. Investments also are selected based on the highest yield for the particular type of investment. In the case of capital projects, in which the exact date that expenditures will need to be made is unknown, the City selects several investments with varying maturities so that monies are available each month to cover all capital expenditures. Any unused capital investment funds are then placed in investments of one year or more to maximize return potential. Minimum Requirements The following are minimum requirements to be met by the Proposer in order to be considered: 1. Firm or principals must have a minimum of ten (10) years of experience in managing fixed income assets for state and local governments with your proposal. 2. Firm must currently manage at least $5 billion of domestic fixed income assets with your proposal. 3. Firm must assign an account manager to the City with a minimum of ten•(10) years experience in providing investment advisory services. Include resumes of all personnel that will service this account with your proposal submission or within five (5) calendar days after receipt of request by the City. 4. Firm must be familiar with all applicable Florida Statutes with regard to qualified investments for public entities with your proposal. 5. Firm must display an understanding of related issues and constraints of the arbitrage regulations and laws with your proposal. 6. Firm must be financially solvent`and appropriately capitalized to be able to service the City of Miami Beach. Provide last 2 years of financial statements with your proposal submission or within five (5) calendar days after receipt of request by the City. 7. Provide a minimum of 3 governmental accounts that the firm is currently providing investment advisory services to. Include contact name, client name, telephone number and email with your proposal submission or within five (5) calendar days after receipt of request by the City. 8. Provide all fee structures that would apply to this RFP. List in a user friendly format with your proposal. Should the Mayor and Commission authorize the issuance of this RFP, all procurement rules (i.e. Cone of Silence, etc.)will apply. Commission Memorandum - Investment Advisory Services RFP January 15, 2014 Page 4 CONCLUSION The Administration recommends that the City Commission approve the issuance of an RFP for Investment Advisory Services and extend the existing agreement on a month to month basis with Cutwater Asset Management F/K/A MBIA Municipal Investors Service Corp. T:\AGENDA\2014\January\Procurement\Investment Advisory RFP Memo-Jan 2014 Revised REQUEST FOR PROPOSALS (RFP) RFC 2014-091-nnF INVESTMENT ADVISORY SERVICES MI.AMI .BEACH DEPARTMENT OF PROCUREMENT MANAGEMENT, 3RD Floor 1700 Convention Center Drive Miami Beach, FL 33139 305-673-7490 I'IM. MIAMIBEACH. RFP 2014-091 MF INVESTMENT ADVISORY SERVICES TABLE OF CONTENTS Section I Overview& Proposal Procedures ........................... 4 Section II Minimum Qualifications Requirements .................... 8 Section III Scope of Services.................................................. 8 Section IV Proposal Format .................................................... 9 Section V Evaluation/Selection Process.................................. 10 Section VI Special Terms& Conditions: Insurance..................... 12 Section VII General Conditions ................................................ 13 Section VII Appendices: A- Proposal Certification, Questionnaire & .............. 18 Requirements Affidavit(Under Separate Cover) B - Minimum Requirements Checklist 25 C-Cost Proposal 36 ® MI,,,V,i BEACH M IAM-1 E A Ho City of Miami Beath, 1700 Convention Center Drive, Miami Beach, Florida 33139,www.miamibeachfl.gov DEPARTMENT OF PROCUREMENT MANAGEMENT Tel: 305-673-7490, Fax: 786-394-4003 PUBLIC NOTICE Sealed proposals,as detailed herein,will be received until 3:00 PM on, February 18,2014,at the following address: City of Miami Beach City Hall Procurement Division—Third Floor 1700 Convention Center Drive Miami Beach,Florida 33139 ANY PROPOSAL RECEIVED AFTER 3:00 PM ON THE PROPOSAL DUE DATE WILL BE RETURNED TO THE PROPOSER UNOPENED, AND WILL NOT BE CONSIDERED. THE RESPONSIBILITY FOR SUBMITTING PROPOSALS BEFORE THE STATED TIME AND DATE IS SOLELY THE RESPONSIBILITY OF THE PROPOSER. THE CITY WILL NOT BE RESPONSIBLE FOR DELAYS CAUSED BY MAIL,COURIER SERVICE,OR ANY OTHER ENTITY OR OCCURRENCE. Proposers are hereby advised that this RFP is subject to the following ordinances/resolutions, which may be found on the City of Miami Beach website:www.miamibeachfi.gov/procurement. • CONE OF SILENCE--ORDINANCE NO. 2002-3378 • PROTEST PROCEDURES--ORDINANCE NO. 2002-3344. • DEBARMENT PROCEEDINGS--ORDINANCE NO.2000-3234 • LOBBYIST REGISTRATION AND DISCLOSURE OF FEES--ORDINANCE NO. 2002-3363. • CAMPAIGN CONTRIBUTIONS BY VENDORS-ORDINANCE NO.2003-3389. • REQUIREMENT FOR CITY CONTRACTORS TO PROVIDE EQUAL BENEFITS FOR DOMESTIC PARTNERS - ORDINANCE NO. 2005-3494 • LOCAL PREFERENCE FOR MIAMI BEACH-BASED VENDORS—ORDINANCE NO.2011-3747. • PREFERENCE FOR FLORIDA SMALL BUSINESSES OWNED AND CONTROLLED BY VETERANS AND TO STATE- CERTIFIED SERVICE-DISABLED VETERAN BUSINESS ENTERPRISES—ORDINANCE NO. 2011-3748. • CODE OF BUSINESS ETHICS--RESOLUTION NO. 2000-23879. All questions or requests for clarifications must be received by the procurement contact named above no later than ten (10)calendar days prior to the scheduled RFP due date. The City Clerk, rafaelgranado @miamibeachfl.gov, must copied on any question or comment submitted in response to this RFP.All responses to questions/clarifications will be sent to Proposers in the form of a written addendum. THE CITY OF MIAMI BEACH RESERVES THE RIGHT TO ACCEPT ANY PROPOSAL DEEMED TO BE IN THE BEST INTEREST OF THE CITY, OR WAIVE ANY IRREGULARITY AND/OR INFORMALITY IN ANY PROPOSAL, OR REJECT ANY AND/OR ALL PROPOSALS. Sincerely, Alex Denis, CPPO Procurement Director ® N'dAMI BEACH SECTION I-OVERVIEW AND PROPOSAL PROCEDURES A. INTRODUCTION I BACKGROUND The City is seeking proposals from firms interested in providing investment advisory services to manage and direct the City's investments. The successful firm would manage and direct the investment of excess funds in accordance with the City's investment objectives as set forth in City of Miami Beach's Investment Policy. The key objectives of the City's investment policy are safety of capital,sufficient liquidity to meet requirements and attaining market—average rates of return. Excess funds are defined as funds not required to meeting short term expenditures of the City. Currently, funds available for investment consist of approximately$522 million which include: $346 million from operating funds,$103 million from various bond proceeds,and$73 million from the Miami Beach Redevelopment Agency(RDA). The City expects its investment advisor to be highly experienced, a leader and innovator in the management of investments, and able to provide comprehensive investment advisory services. The firm selected as the investment advisor and its affiliates will be restricted from selling to the City,or buying from the City,any securities to or from that firm's own inventory or account. The investment advisor will also be restricted from placing into the City's portfolio any securities for which it, or an affiliate, is the issuer. Investment advisors will not provide custodial services or security safekeeping. All City investments, except for swap agreements must be held in an independent custodial account. Fees for such services are competitive and would be paid from additional investment earnings. Maturity and Liquidity Requirements The City selects investments whose terms compliment the need to make the majority expenditures set forth below. 1. Biweekly Payrolls 2.Periodic Debt Service Payments 3.Capital Project Needs For each expenditure event, investments are selected whose maturities occur at a date close to the date that funds will be needed. Investments also are selected based on the highest yield for the particular type of investment. In the case of capital projects, in which the exact date that expenditures will need to be made is unknown, the City selects several investments with varying maturities so that monies are available each month to cover all capital expenditures. Any unused capital investment funds are then placed in investments of one year or more to maximize return potential. The contract term will be for five(5)years,with five(5)one(1)year renewal options at the sole option and discretion of the City. B. RFP TIMETABLE The tentative schedule for this RFP is as follows: RFP Issued January 16,2014 Pre-Proposal Meeting January 30,2014 Deadline for Receipt of Questions February 4,2014 Proposals Due February 14,2014 Evaluation Committee Review March 2014 Tentative Commission Approval Authorizing Negotiations April 2014 Contract Negotiations Following Commission Approval C. PROPOSAL SUBMISSION DUE DATE An original and ten (10) copies of complete Proposals, plus one electronic copy (CD or flash drive), must be received no later than 3:00 p.m.on the dated stated in Section 1(B),at the following address: City of Miami Beach City Hall Procurement Division--Third Floor 1700 Convention Center Drive Miami Beach,Florida 33139 4 1 RFP 2014-091 MF,Investment Advisory Services G i1 VAMI BEACH The original and all copies, including the electronic copy, must be submitted to the Procurement Division in a sealed package clearly noted with the Proposer's name,address,and RFP number and title.No facsimile,electronic,or e-mail Proposals will be considered. THE RESPONSIBILITY FOR SUBMITTING A PROPOSAL IN RESPONSE TO THIS RFP, ON OR BEFORE THE STATED TIME AND DATE,WILL BE SOLELY AND STRICTLY THAT OF THE PROPOSER.THE CITY WILL IN NO WAY BE RESPONSIBLE FOR DELAYS CAUSED BY MAIL,COURIER SERVICE,OR BY ANY OTHER ENTITY OR OCCURRENCE. ANY PROPOSAL RECEIVED AFTER STATED DUE DATE WILL BE RETURNED TO THE PROPOSER UNOPENED. PROPOSALS RECEIVED AFTER THE RFP DUE DATE AND TIME WILL NOT BE ACCEPTED AND WILL NOT BE CONSIDERED. D. PRE-PROPOSAL SUBMISSION MEETING A Pre-Proposal Submission Meeting will be held on the date noted in Section 1(B) at 11:00 a.m. at the following address: City of Miami Beach City Hall — 4t" Floor, Manager's Large Conference Room, 1700 Convention Center Drive, Miami Beach, Florida 33139. Proposer should confirm date and time of meeting with contracting officer named in this RFP. Attendance (in person or via telephone) is encouraged and recommended as a source of information, but is not mandatory. Proposers interested in participating in the Pre-Proposal Submission Meeting via telephone must follow these steps: (1)Dial the TELEPHONE NUMBER: 1-888-270-9936(Toll-free North America) (2)Enter the MEETING NUMBER: 1142644 Proposers who are interested in participating via telephone should send an e-mail to the contact person listed in Section E of this RFP expressing their intent to participate via telephone. E. CONTACT INFORMATION Contact: Telephone: Email: MARTA FERNANDEZ-RUBIO 305-673-7000, Extension 6263 MartaFernandezRubio @miamibeachfl.gov Requests for additional information or requests for clarifications must be made in writing to the Procurement Division. Facsimile or e-mail requests are acceptable. Please send all questions and/or requests for clarifications to the contact named above, with a copy to the City Clerk's Office at RafaelGranatlo(cDmiamibeachfl.gov,no later than the date specified in the RFP timetable. F. RESPONSE TO QUESTIONS&ADDENDUM TO RFP The Procurement contact will issue replies to inquiries and any other corrections or amendments, as he deems necessary, in written addenda issued prior to the deadline for responding to the RFP. Proposers should not rely on representations, statements,or explanations (whether verbal or written),other than those made in this RFP or in any written addendum to this RFP. Proposers should verify with the Procurement Division prior to submitting a Proposal that all addenda have been received. G. CONE OF SILENCE Pursuant to the city's Cone Of Silence Ordinance, as codified in section 2-486 of the City Code, proposers are advised that oral communications between the proposer, or their representatives and 1) the Mayor and City Commissioners and their respective staff; or 2) members of the City's Administrative staff(including but not limited to the City Manager and his staff);or 3)Evaluation Committee members, is prohibited. H. MODIFICATIONIWITHDRAWALS OF PROPOSALS A Proposer may submit a modified Proposal to replace all or any portion of a previously submitted Proposal up until the Proposal due date and time. Modifications received after the Proposal due date and time will not be considered. Proposals shall be irrevocable until contract award unless withdrawn in writing prior to the Proposal due date, or after expiration of 120 calendar days from the opening of Proposals without a contract award. Letters of withdrawal received after the Proposal due date and before said expiration date,and letters of withdrawal received after contract award will not be considered. I. RFP POSTPONEMENT/CANCELLATION/REJECTION The City may, at its sole and absolute discretion, reject any and all, or parts of any and all, Proposals; re-advertise this RFP; postpone or cancel,at any time,this RFP process;or waive any irregularities in this RFP,or in any Proposals received as a result of this RFP. 5 1 RFP 2014-091 MF,Investment Advisory Services ® POIAMI BEACH J. COSTS INCURRED BY PROPOSERS All expenses involved with the preparation and submission of Proposals, or any work performed in connection therewith, shall be the sole responsibility(and shall be at the sole cost and expense)of the Proposer,and shall not be reimbursed by the City. K. EXCEPTIONS TO RFP Proposers must clearly indicate any exceptions they wish to take to any of the terms in this RFP, and outline what, if any, alternative is being offered. All exceptions and alternatives shall be included and clearly delineated, in writing, in the Proposal. The City, at its sole and absolute discretion, may accept or reject any or all exceptions and alternatives. In cases in which exceptions and alternatives are rejected, the City shall require the Proposer to comply with the particular term and/or condition of the RFP to which Proposer took exception to (as said term and/or condition was originally set forth on the RFP). L. FLORIDA PUBLIC RECORDS LAW Proposers are hereby notified that all Proposals including,without limitation,any and all information and documentation submitted therewith, are exempt from public records requirements under Section 119.07(1), Florida Statutes, and s. 24(a), Art. 1 of the State Constitution until such time as the City provides notice of an intended decision or until thirty(30)days after opening of the Proposals,whichever is earlier. M. NEGOTIATIONS The City reserves the right to enter into further negotiations with the selected Proposer. Notwithstanding the preceding,the City is in no way obligated to enter into a contract with the selected Proposer in the event the parties are unable to negotiate a contract. It is also understood and acknowledged by Proposers that by submitting a Proposal, no property interest or legal right of any kind shall be created at any time until and unless a contract has been agreed to;approved by the City;and executed by the parties. N. PROTEST PROCEDURE Proposers that are not selected may protest any recommendation for selection of award in accordance with the proceedings established pursuant to the City's proposal protest procedures (Ordinance No. 2002-3344), as codified in Sections 2-370 and 2-371 of the City Code. Protests not timely made pursuant to the requirements of Ordinance No.2002-3344 shall be barred. 0. OBSERVANCE OF LAWS Proposers are expected to be familiar with, and comply with, all Federal, State, County, and City laws, ordinances, codes, rules and regulations, and all orders and decrees of bodies or tribunals having jurisdiction or authority which, in any manner, may affect the scope of services and/or project contemplated by this RFP (including, without limitation, the Americans with Disabilities Act, Title VII of the Civil Rights Act,the EEOC Uniform Guidelines, and all EEO regulations and guidelines). Ignorance of the law(s)on the part of the Proposer will in no way relieve it from responsibility for compliance. P. DEFAULT Failure or refusal of the successful Proposer to execute a contract following approval of such contract by the City Commission, or untimely withdrawal of a Proposal before such award is made and approved, may result in forfeiture of that portion of any surety required as liquidated damages to the City. Where surety is not required, such failure may result in a claim for damages by the City and may be grounds for removing the Proposer from the City's vendor list. Q. CONFLICT OF INTEREST All Proposers must disclose, in their Proposal, the name(s) of any officer, director, agent, or immediate family member (spouse, parent, sibling,and child)who is also an employee of the City of Miami Beach. Further,all Proposers must disclose the name of any City employee who owns,either directly or indirectly,an interest of ten(10%)percent or more in the Proposer entity or any of its affiliates. R. PROPOSER'S RESPONSIBILITY Before submitting a Proposal, each Proposer shall be solely responsible for making any and all investigations, evaluations, and examinations, as it deems necessary, to ascertain all conditions and requirements affecting the full performance of the contract. Ignorance of such conditions and requirements,and/or failure to make such evaluations,investigations,and examinations,will not relieve the Proposer from any obligation to comply with every detail and with all provisions and requirements of the contract, and will not be accepted as a basis for any subsequent claim whatsoever for any monetary consideration on the part of the Proposer. S. RELATIONSHIP TO THE CITY It is the intent of the City, and Proposers hereby acknowledge and agree, that the successful Proposer is considered to be an independent contractor, and that neither the Proposer, nor the Proposer's employees, agents, and/or contractors, shall, under any circumstances, be considered employees or agents of the City. 6 1 RFP 2014-091 MF,Investment Advisory Services ® ;1,11; VAI BEACH T. PUBLIC ENTITY CRIME A person or affiliate who has been placed on the convicted vendor list following a conviction for public entity crimes may not submit a proposal on a contract to provide any goods or services to a public entity, may not submit a proposal on a contract with a public entity for the construction or repair of a public building or public work, may not submit proposals on leases of real property to public entity, may not be awarded or perform work as a contractor, supplier, sub-contractor,or consultant under a contract with a public entity, and may not transact business with any public entity in excess of the threshold amount provided in Sec.287.017,for CATEGORY TWO for a period of 36 months from the date of being placed on the convicted vendor list. U. COMPLIANCE WITH THE CITY'S LOBBYIST LAWS This RFP is subject to, and all Proposers are expected to be or become familiar with, all City lobbyist laws. Proposers shall be solely responsible for ensuring that all City lobbyist laws are complied with, and shall be subject to any and all sanctions, as prescribed therein, including,without limitation,disqualification of their Proposals, in the event of such non-compliance. V. CONE OF SILENCE This RFP is subject to,and all Proposers are expected to be or become familiar with,the City's Cone of Silence requirements,as codified in Section 2-486 of the City Code. Proposers shall be solely responsible for ensuring that all applicable provisions of the City's Cone of Silence are complied with, and shall be subject to any and all sanctions, as prescribed therein, including rendering their Proposal voidable, in the event of such non-compliance. W. DEBARMENT ORDINANCE This RFP is subject to,and all Proposers are expected to be or become familiar with,the City's Debarment Ordinance(as adopted pursuant to Ordinance No.200-3234,and as codified in Sections 2-397 through 2-406 of the City Code). X. COMPLIANCE WITH THE CITY'S CAMPAIGN FINANCE REFORM LAWS This RFP is subject to, and all Proposers are expected to be or become familiar with,the City's Campaign Finance Reform laws,as codified in Sections 2-487 through 2-490 of the City Code. Proposers shall be solely responsible for ensuring that all applicable provisions of the City's Campaign Finance Reform laws are complied with, and shall be subject to any and all sanctions, as prescribed therein, including disqualification of their Proposals, in the event of such non-compliance. Y. CODE OF BUSINESS ETHICS Pursuant to City Resolution No.2000-23879, each person or entity that seeks to do business with the City shall adopt a Code of Business Ethics("Code")and submit that Code to the Procurement Division with its.proposal/response or within five(5)days upon receipt of request. The Code shall, at a minimum, require the Proposer, to comply with all applicable governmental rules and regulations including, among others,the conflict of interest, lobbying and ethics provision of the City of Miami Beach and Miami Dade County. Z. AMERICAN WITH DISABILITIES ACT(ADA) Call 305-673-7490 to request material in accessible format; sign language interpreters (five (5) days in advance when possible), or information on access for persons with disabilities. For more information on ADA compliance, please call the Public Works Department, at 305-673-7000, Extension 2984. AA. ACCEPTANCE OF GIFTS,FAVORS,SERVICES Proposers shall not offer any gratuities,favors, or anything of monetary value to any official, employee, or agent of the City,for the purpose of influencing consideration of this Proposal. Pursuant to Sec. 2-449 of the City Code, no officer or employee of the City shall accept any gift,favor or service that might reasonably tend improperly to influence him in the discharge of his official duties. BB. DETERMINATION OF AWARD The final ranking results of Step 1 & 2 outlined in Section V, Evaluation of Proposals, will be considered by the City Manager who may recommend to the City Commission the proposer(s) s/he deems to be in the best interest of the City or may recommend rejection of all proposals. The City Manager's recommendation need not be consistent with the scoring results identified herein and takes into consideration Miami Beach City Code Section 2-369,including the following considerations: (1)The ability,capacity and skill of the proposer to perform the contract. (2)Whether the proposer can perform the contract within the time specified,without delay or interference. (3)The character,integrity, reputation,judgment,experience and efficiency of the proposer. (4)The quality of performance of previous contracts. (5)The previous and existing compliance by the proposer with laws and ordinances relating to the contract. 7 RFP 2014-091 MF,Investment Advisory Services ® ;tiAIAMIBEACH The City Commission shall consider the City Manager's recommendation and may approve such recommendation. The City Commission may also,at its option,reject the City Manager's recommendation and select another Proposal or Proposals which it deems to be in the best interest of the City, or it may also reject all Proposals. Upon approval of selection by the City Commission, negotiations between the City and the selected Proposer(s)will take place to arrive at a mutually acceptable Agreement. SECTION II—MINIMUM QUALIFICATIONS REQUIREMENTS In order to be considered, Proposers shall provide evidence of the following minimum requirements: 1. Firm or principals must have a minimum of ten (10) years of-experience in managing fixed income assets for state and local governments with your proposal. 2. Firm must currently manage at least$5 billion of domestic fixed income assets with your proposal. 3. Provide a minimum of three(3)governmental accounts that the firm is currently providing investment advisory services to. Include contact name, client name, telephone number and email with your proposal submission or within five (5) calendar days after receipt of request by the City. 4. Firm must assign an account manager to the City with a minimum of ten (10) years experience in providing investment advisory services. Include resumes of all personnel that will service this account with your proposal submission or within five(5)calendar days after receipt of request by the City. SECTION III—SCOPE OF SERVICES Qualifications of the Firm • Firm must be familiar with all applicable Florida Statutes with regard to qualified investments for public entities with your proposal. • Firm must display an understanding of related issues and constraints of the arbitrage regulations and laws with your proposal. • Firm must be financially solvent and appropriately capitalized to be able to service the City of Miami Beach. Provide last 2 years of financial statements with your proposal submission or within five (5) calendar days after receipt of request by the City. The City requires that the selected Investment Advisor,at a minimum,provide the following services: 1. The City expects its investment advisor to be highly experienced, a leader and innovator in the management of investments, and able to provide comprehensive investment advisory services. The firm selected as the investment advisor and its affiliates will be restricted from selling to the City,or buying from the City,any securities to or from that firm's own inventory or account. 2. The investment advisor will also be restricted from placing into the City's portfolio any securities for which it, or an affiliate, is the issuer. Investment advisors will not provide custodial services or security safekeeping. 3. All City investments,except for swap agreements must be held in an independent custodial account. 4. Provide full-time management on a daily basis of the City's investment portfolio pursuant to the specific stated investment objectives and the City's Investment Policy. 5. Place all orders for the purchase and sale of securities,communicate settlement information to City staff and assist in coordinating security settlement. 6. Serve as a general resource to City staff for information, advice and training regarding fixed income securities, investment and yield curve analysis. 7. Work with City staff to develop cash flow projections to ensure that the investment strategy is consistent with the City's cash requirements. 8. Provide monthly statements detailing investment activity,earnings,the value of the investment portfolio,a portfolio return,mark to market valuation,and weighted average maturity,accrued interest by investment type, rating of investment by Standards&Poor's and Moody's. 9. The selected investment advisor must maintain accurate reports including portfolio composition showing diversity of investments and compliance with applicable investment policies of the City of Miami Beach and State of Florida Statutes. 10. Develop and implement investment strategies for the Advisory Account that will seek to enhance portfolio performance under current and future market conditions within the parameters of the City's investment policy and cash flow needs. 11. Obtain and document competitive prices for securities transactions. 12. Provide semi-annual and annual portfolio performance reports. 13. Review and update the City's investment policy and written investment procedures. 14. Perform due diligence reviews of current and proposed broker/dealers. 15. Monitor the creditworthiness of the City's depository and custodian bank and investments in the portfolio. 16. Provide client training on investment management subjects. 17. Attend meetings with the City's finance staff and governing body upon request;and 18. Provide arbitrage calculations and reports on the investment of bond proceeds. 8 1 RFP 2014-091 MF,Investment Advisory Services ® NA yA,i BEACH SECTION IV—PROPOSAL FORMAT In order to maintain comparability, facilitate the review process and assist the Evaluation Committee in review of proposals, it is strongly recommended that proposals be organized and tabbed in accordance with the sections and manner specified below. Hard copy submittal should be presented in a three (3) ring binder and should be tabbed as enumerated below and contain a table of contents with page references. Electronic copies should also be tabbed and contain a table of contents with page references. Proposals that are received late or do not include the required information will be deemed non-responsive and will not be considered. Minimum Eligibility Requirements 7and detailed verifiable information affirmatively documenting compliance with minimum eligibility requirements established in Section II mplete Appendix B. Experience&Qualifications. 7o , tions of Proposing Firm. Describe experience and qualifications of the Proposer in performing the services sought in this RFP d business,including: Firm History&Prior Experience • Documentable, proven track record of providing the scope of services similar as identified in this solicitation. • Experience in providing similar scope of services to public sector agencies. • Financial capacity to perform services outlined in the RFP including, but not limited to, Dun & Bradstreet Supplier Qualification Reports, latest annual reviewed/audited financial statements with the auditors notes. The City reserves the right to require additional information to determine financial capability. D&B REPORTS. The prospective Provider shall pay D&B to send the Supplier Qualifier Report (SQR) to the prospective Provider and the Department through electronic means. The cost of the preparation of the D&B report shall be the responsibility of the prospective Provider.The prospective Provider shall request the report from D&B at https://supplierportal.dnb.com/webapp/wcs/stores/servlet/SupplierPortal?storeld=11696 In addition to the D&B information, the City may require proposers shall submit financial statements for each of their last two complete fiscal years within ten (10) calendar days, upon written request. Such statements should include, as a minimum, balance sheets(statements of financial position)and statements of profit and loss(statement of net income).When the submittal is from a co venture,each Proposers involved in the co venture must submit financial statements as indicated above. Qualifications of Proposer Team.Provide an organizational chart of all personnel and consultants to be used for this project if awarded, the role that each team member will play in providing the services detailed herein and each team members' qualifications. A resume of each individual, including education,experience, and any other pertinent information,shall be included for each Proposal team member to be assigned to this contract. Proposal Certification, Questionnaire & Requirements Affidavit (Appendix A). Attach Appendix A fully completed and executed. Through the information provided in Appendix A, proposer's financial capacity, litigation history, past performance,as well as other factors, may be assessed. Scope of Services Proposed and Methodology Submit detailed information on how proposer plans to accomplish the required scope of services, including detailed information, as applicable,on: 1.Approach and methodology to project implementation; 2. Project timeline and any other factor that may impact the successful completion of the project. Cost Proposal Submit completed and executed Cost Proposal Appendix C). 9 1 RFP 2014-091 MF,Investment Advisory Services ® Nf11MAI BEACH SECTION V—EVALUATION I SELECTION PROCESS The procedure for response,evaluation and selection will be as follows: 1. An Evaluation Committee, appointed by the City Manager, shall meet to evaluate each Proposal in accordance with the requirements set forth in the RFP. If further information is desired, Proposers may be requested to make additional written submissions or oral presentations to the Evaluation Committee.The evaluation of proposals will proceed in a two-step process. 2. The first step will consist of the qualitative criteria listed below to be considered by the Evaluation Committee.The second step will consist of quantitative criteria established below to be added to the Evaluation Committee results by the Department of Procurement Management. Step 1 Evaluation. An Evaluation Committee, appointed by the City Manager, shall meet to evaluate each Proposal in accordance with the qualifications criteria established below for Step 1, Qualitative Criteria. In doing so,the Evaluation Committee may: a. Review and score all proposals received,with or without conducting interview sessions;or b. Review all proposals received and short-list one or more proposers to be further considered during subsequent interview session(s)(using the same criteria). Step Points, Proposer Experience and Qualifications,including Financial Capability 20 Scope of Services Proposed 20 Approach and Methodology 20 TOTAL AVAILARLE ° POINTS •0 3. Step 2 Evaluation. Following the results of Step 1 Evaluation Qualitative criteria, the proposers may receive additional points to be added by the Department of Procurement Management to those points earned in Step 1,as follows. • w Cost Proposal 40 Local and Veterans Preference Miami Beach-Based Vendor 5 Veterans and State-Certified Service-Disabled Veteran 5 Business Enterprises 'TOTALAVAILABLE • POINTS 0 4. The cost proposal points shall be developed in accordance with the following formula: Sample Objective Formula for Cost Vendor Vendor Example Maximum Formula for Calculating Points Total Points Cost Allowable Points (lowest cost I cost of proposal being Awarded Proposal evaluated X maximum allowable points=awarded points) Round to Vendor A $100.00 20 $1001$100 X 20=20 20 Vendor B $150.00 20 $1001$150 X 20=13 13 Vendor C $200.00 20 $1001$200 X 20=10 10 5. At the conclusion of the Evaluation Committee Step 1 scoring, Step 2 Points will be added to each evaluation committee member's scores by the Department of Procurement Management. Step 1 and 2 scores will be converted to rankings in accordance with the example below: 10 1 RFP 2014-091 MF,Investment Advisory Services IM N IAf�J'�I BEACH Proposer A Step 1 Points 82 76 80 Step 2 Points` 22 15 12 Committee Total 104 91 92 Member 1 Rank 1 3 2 Step 1 Points 79 85 72 Step 2 Points' 22 15 12 Committee Total 101 100 84 Member 2 Rank 1 2 3 Step 1 Points 80 74 66 Step 2 Points` 22 15 12 Committee Total 102 89 78 Member 2 Rank 1 2 3 Aggregate Low *Step 2 Points calculated by DPM. **Final Ranking is presented to the City Manager for further due diligence and recommendation to the City Commission. Final Ranking does not constitute an award recommendation until such time as the City Manager has made his recommendation to the City Commission. BY SUBMITTING A PROPOSAL,ALL PROPOSERS SHALL BE DEEMED TO UNDERSTAND AND AGREE THAT NO PROPERTY INTEREST OR LEGAL RIGHT OF ANY KIND SHALL BE CREATED AT ANY POINT DURING THE AFORESAID EVALUATION/SELECTION PROCESS UNTIL AND UNLESS A CONTRACT HAS BEEN AGREED TO AND SIGNED BY BOTH PARTIES. 11 1 RFP 2014-091 MF,Investment Advisory Services ® j%,;IAVdBEACH SECTION VI—SPECIAL TERMS AND CONDITIONS: INSURANCE REQUIREMENTS The Provider shall furnish to the Department of Procurement, City of Miami Beach, 1700 Convention Center Drive, 3rd Floor, Miami, Florida 33139, Certificate(s)of Insurance which indicate that insurance coverage has been obtained which meets the requirements as outlined below: A. Worker's Compensation Insurance for all employees of the vendor as required by Florida Statute 440. B. Commercial General Liability Insurance on a comprehensive basis, including Personal Injury Liability, Products/Completed Operations, in an amount not less than $1,000,000 combined single limit per occurrence for bodily injury and property damage. City of Miami Beach must be shown as an additional insured with respect to this coverage. C. Automobile Liability Insurance covering all owned, non-owned and hired vehicles used in connection with the work, in an amount not less than $1,000,000 combined single limit per occurrence for bodily injury and property damage. All insurance policies required above shall be issued by companies authorized to do business under the laws of the State of Florida, with the following qualifications: The company must be rated no less than "B" as to management, and no less than "Class W as to financial strength, by the latest edition of Best's Insurance Guide, published by A.M. Best Company, Oldwick, New Jersey,or its equivalent, subject to the approval of the City Risk Management Division. or The company must hold a valid Florida Certificate of Authority as shown in the latest"List of All Insurance Companies Authorized or Approved to Do Business in Florida"issued by the State of Florida Department of Insurance and are members of the Florida Guaranty Fund. Certificates will indicate no modification or change in insurance shall be made without thirty(30) days in advance notice to the certificate holder. CERTIFICATE HOLDER MUST READ: CITY OF MIAMI BEACH 1700 CONVENTION CENTER DRIVE 3RD FLOOR MIAMI BEACH, FL 33139 Compliance with the foregoing requirements shall not relieve the vendor of his liability and obligation under this section or under any other section of this agreement. 12 RFP 2014-091 MF,Investment Advisory Services I &AIA AI BEACH recommendation to the City Manager on the selection of short- SECTION VII—GENERAL CONDITIONS listed proposer (s) who the City Manager, at his or her discretion, may present to the City Commission for 1. GENERAL TERMS AND CONDITIONS.It is the responsibility of the consideration and final award. Proposer to become thoroughly familiar with the Proposal o. Successful Proposer—shall mean the Proposer(s) recommended requirements, terms and conditions of this solicitation. Ignorance by for award. the Proposer of conditions that exist or that may exist will not be p. Term Applicant — shall mean an individual, partnership, or accepted as a basis for varying the requirements of the City,or the corporation, which submits an application in response to this compensation to be paid to the Proposer. solicitation. 2. DEFINITIONS.The following words,terms and phrases,when used, q• Responsible Proposer:A proposer who is qualified,as determined shall have the meanings ascribed to them except where the context by the City,on the basis of the following criteria: clearly indicates a different meaning. Whether the proposer can perform the contract within the time a. Proposal—shall refer to any offer(s)submitted in response to specified,without delay or interference. this solicitation. The character,integrity,reputation,judgment,experience and b. Proposer /Contractor/Offeror — Any individual, firm, or efficiency of the proposer. corporation submitting a proposal for this Project acting directly 0 The quality of performance of previous contracts. or through a duly authorized representative. 0 The previous and existing compliance by the proposer with C. Proposal Solicitation — shall mean this solicitation laws and ordinances relating to the contract. documentation,including any and all addenda. r. Responsive Proposer -A proposer whose submittal is determined d. Proposal Submittal Form—defines the requirement of items to by the City to be in conformance with the conditions, requirements, be purchased, and must be completed and submitted with and specifications detailed in the specifications. Proposal. The Proposer should indicate its name in the s. Vendor-a person and/or entity,which has been selected by the City appropriate space on each page. as the successful proposer on a present or pending proposal for e. City—shall refer to City of Miami Beach,Florida goods,equipment or services,or has been approved by the City on a f. City Commission-City Commission shall mean the governing present or pending award for goods,equipment or services,prior to or and legislative body of the City. upon execution of a contract,purchase order or standing order. g. City Manager - City Manager shall mean the Chief For additional information about on-line vendor enrollment or Administrative Officer of the City. vendor pre-qualification, please contact Procurement at 1700 h. Comparable Facility - A facility that, when considering size, Convention Center Drive,Miami Beach,FL 33139;Phone 305-673- use, revenue, and other applicable criteria, is similar to the 7490.Or email: Miami Beach Convention Center (MBCC) which includes 1.2 procurement(dmiamibeachfl.gov Vendors can register with the million gross square foot facility averaging a minimum of $6 City by going to the website:www.miamibeachfl.gov and click on million in annual gross food and beverage sales. Procurement under City Departments. i. Controlling Financial Interest-means the ownership,directly or indirectly,of 10%or more of the outstanding capital stock in 3. PRICES QUOTED.Deduct trade discounts and quote firm net prices. any corporation or a direct.or indirect interest of 10%or more in Give both unit price and extended total,when requested. Prices must a firm. be stated in units of quantity specified in the proposalding j. Domestic Partner:The term Domestic Partner shall mean any specifications. In case of discrepancy in computing the amount of the two(2)adults of the same or opposite sex,who have registered proposal, the UNIT PRICE quoted will govern. All prices must be as domestic partners with a government body pursuant to state F.O.B.destination,freight prepaid(unless otherwise stated in Special or local law authorizing such registration, or with an internal Conditions). Discounts for prompt payment;The Proposer may offer registry maintained by the employer of at least one of the cash discounts for prompt payments;however,such discounts will not domestic partners.A Contractor may institute an internal registry be considered in determining the lowest price during proposal to allow for the provision of equal benefits to employees with evaluation. Proposers are requested to provide prompt payment domestic partner who do not register their partnerships pursuant terms in the space provided on the Proposal submittal signature page to a governmental body authorizing such registration,or who are of the solicitation. Award, if made, will be in accordance with terms located in a jurisdiction where no such governmental domestic and conditions stated herein. Each item must be proposal separately, partnership exists. and no attempt is to be made to tie any item or items in with any other k. Enrolled Vendor—shall refer to a firm that has completed the item or items. Cash or quantity discounts offered will not be a City of Miami Beach Pre-Qualification process and has satisfied consideration in determination of award of proposal(s). all requirements to enter into a business agreement with the 4. TAXES.The City of Miami Beach is exempt from all Federal Excise City. I. Evaluation Committee-A committee of individuals appointed and State taxes. by the City Manager that may include City personnel,residents, 5. MISTAKES. Proposers are expected to examine the specifications, industry experts and other individuals whose purpose is to delivery schedules, proposal prices, and extensions, and all evaluate the proposals received in response to this RFP and instructions pertaining to supplies and services. Failure to do so will who may make a non-binding recommendation to the City be at the proposer's risk and may result in the proposal being non- Manager on the selection of a short-list of proposer(s)who the responsive. City Manager,at his or her discretion, may present to the City Commission for consideration and, if approved by the City 6. CONDITION AND PACKAGING.Proposer guarantees items offered Commission,who may be further considered during the contract and delivered to be the current standard production model at time of negotiation phase. proposal and shall offer expiration dating of at least one year or later. m. Firm-means a corporation,partnership,business trust or any Proposer also guarantees items offered and delivered to be new, legal entity other than a natural person. unused,and free from any and all defects in material,packaging and n. Negotiation Team -A committee of individuals appointed by workmanship and agrees to replace defective items promptly at no the City Manager that may include City personnel, residents, charge to the City of Miami Beach, for the manufacturers standard industry experts and other individuals whose purpose is to warranty but in no case for a period of less than 12 months from date negotiate a contract, after City Commission has approved a of acceptance. All containers shall be suitable for storage or short-list of proposer (s), and who may make a non-binding shipment,and all prices shall include standard commercial packaging. 13 RFP 2014-091 MF,Investment Advisory Services ® ;,A1A Al BEACH 7. UNDERWRITERS' LABORATORIES. Unless otherwise stipulated in proposer's name. Failure of the proposer to either deliver required the Proposal,all manufactured items and fabricated assemblies shall samples,or to clearly identify samples may be reason for rejection of be U.L. listed or re-examination listing where such has been the proposal.Unless otherwise indicated,samples should be delivered established by U.L.for the item(s)offered and furnished. to the Procurement Division, 1700 Convention Center Drive, Miami 8. CITY'S RIGHT TO WAIVE OR REJECT PROPOSALS. The City Beach,FL 33139. Commission reserves the right to waive any informalities or 17. DELIVERY.Unless actual date of delivery is specified(or if specified irregularities in this Proposal;or to reject all proposals,or any part of delivery cannot be met), show number of days (in calendar days) any proposal, as it deems necessary and in the best interest of the required to make delivery after receipt of purchase order, in space City of Miami Beach. provided. Delivery time may become a basis for making an award. 9. EQUIVALENTS.If a proposer offers makes of equipment or brands of Delivery shall be within the normal working hours of the City using Department, Monday through Friday, excluding holidays. Receiving supplies other than those specified in the Proposal specifications,he hours are Monday through Friday,excluding holidays,from 8:30 A.M. must so indicate in his proposal. Specific article(s) of to 5:00 P.M. equipment/supplies shall conform in quality, design and construction with all published claims of the manufacturer. 18. INTERPRETATIONS. Any questions concerning the Proposal 10. The proposer shall indicate in the Proposal Form the manufacturer's conditions and specifications should be submitted, in wilting, to the name and number if proposing other than the specified brands,and City's Department of Procurement Management (DPM) 1700 shall indicate ANY deviation from the specifications as listed in the Convention Center Drive, Miami Beach, FL 33139.or facsimile: 786- Proposal. Other than specified items offered requires complete 394-4075. descriptive technical literature marked to indicate detailed conformance with specifications, and MUST BE INCLUDED WITH 19. LATE SUBMISSION.All proposals received after the date,time,and THE PROPOSAL. NO PROPOSALS WILL BE CONSIDERED place specified in the Proposal, will be returned to the proposer WITHOUT THIS INFORMATION. unopened,and will not be considered.The responsibility for submitting 11. Lacking any written indication of intent to quote an alternate brand or proposals before the stated time and date is solely the responsibility of model number, the proposal will be considered as a proposal in the proposer. The City will not be responsible for delays caused by complete compliance with the Proposal specifications. mail, courier service, or any other entity or occurrence. Facsimile, 12. Note as to Brand Names:Catalog numbers,manufacturers'and brand electronic,or e-mailed proposals will not be accepted. names, when listed, are informational guides as to a standard of 20. INSPECTION,ACCEPTANCE&TITLE. Inspection and acceptance acceptable product quality level only and should not be construed as will be at destination, unless otherwise provided. Title to(or risk of an endorsement or a product limitation of recognized and legitimate loss or damage to) all items shall be the responsibility of the manufacturers. Proposer s shall formally substantiate and verify that successful proposer until acceptance by the City, unless loss or product(s) offered conform with or exceed quality as listed in the damage results from the gross negligence or willful misconduct of the specifications. City. 13. EMERGENCY RESPONSE PRIORITY. It is hereby made a part of 21. If any equipment or supplies supplied to the City are found to be this solicitation that before, during, and after a public emergency, defective,or do not conform to the specifications,the City reserves the disaster,hurricane,tomado,flood,or other acts of force majeure that right to cancel the order upon written notice to the seller,and return the City of Miami Beach,Florida shall receive a"First Priority"for any the product,at the proposer's expense. goods and services covered under any award resulting from this solicitation,including balance of line items as applicable. It is vital and 22. PAYMENT. Payment will be made by the City after the items have imperative that the majority of citizens are protected from any been received, inspected, and found to comply with Proposal emergency situation that threatens public health and safety, as specifications,free of damage or defect,and properly invoiced. determined by the City. By virtue of submitting a response to this 23. DISPUTES. In case of any doubt or difference of opinion as to the solicitation, vendor agrees to provide all award-related goods and services to the City on a"first priority"under the emergency conditions items and/or services(as the case may be)to be furnished hereunder, the decision of the City shall be final and binding on all parties. noted above. 14. NON-CONFORMANCE TO CONTRACT CONDITIONS.Items may be 24. LEGAL REQUIREMENTS.The proposer shall be required to comply tested for compliance with specifications. Items delivered, not with all federal, State of Florida, Miami-Dade County, and City of conforming to specifications, may be rejected and retumed at the Miami Beach codes, laws, ordinances, and/or rules and regulations proposer's expense. These items,as well as items not delivered as that in any manner affect the items covered herein (collectively, per delivery date in proposal and/or purchase order, may be Applicable Laws). Lack of knowledge or ignorance by the proposer purchased by the City, at its discretion, on the open market. Any with/of Applicable Laws will in no way be a cause for relief from increase in cost may be charged against the proposer. Any violation responsibility. of these stipulations may also result in the proposer's name being 25. PATENTS&ROYALTIES.The proposer shall indemnify and save removed from the City's vendor list. harmless the City of Miami Beach,Florida,and its officers,employees, 15. PRODUCT INFORMATION. Product literature, specifications, contractors, and/or agents, from liability of any nature or kind, and technical information, including Manufacturer's Safety Data including cost and expenses for, or on account of, any copyrighted, Sheets (MSDS) should be provided with this proposal as an patented,or unpatented invention,process,or article manufactured or attachment to the"PROPOSAL FORM".However,in all cases must be used in the performance of the contract,including its use by the City of provided within five(5)calendar days upon request from Purchasing Miami Beach, Florida. If the proposer uses any design, device or Agent. materials covered by letters, patent, or copyright, it is mutually understood and agreed, without exception, that the proposal prices 16. SAMPLES. Proposals submitted as an "equal" product must be shall include all royalties or cost arising from the use of such design, accompanied with detailed specifications. Samples of items, when device,or materials in any way involved in the work. required,must be furnished free of expense and,if not destroyed,will, 26. OSHA.The proposer warrants to the City that any work, services, upon request,be retumed at the proposer's expense. Proposer s will supplies, materials or equipment supplied pursuant to this Proposal be responsible for the removal of all samples furnished within (30) shall conform in all respects to the standards set forth in the days after proposal opening. All samples will be disposed of after Occupational Safety and Health Act of 1970, as amended, and the thirty (30) days. Each individual sample must be labeled with the failure to comply with this condition will be deemed breach of contract. 14 1 RFP 2014-091 MF,Investment Advisory Services IM ; AIA"AI BEACH Any fines levied because of inadequacies to comply with this condition City department. shall be borne solely by the proposer. 36. SUBSTITUTIONS.The City WILL NOT accept substitute shipments of 27. MANNER OF PERFORMANCE. Proposer agrees to perform its any kind. The proposer is expected to furnish the brand quoted in its duties and obligations in a professional manner and in accordance proposal. Any substitute shipments will be returned at the proposer's with all applicable Local, State, County, and Federal laws, rules, expense. regulations and codes. Proposer agrees that the services provided shall be provided by employees that are educated, trained, 37. FACILITIES.The City,through its City Manager or his/her authorized experienced,certified,and licensed in all areas encompassed within designee,reserves the right to inspect the proposer's facilities at any their designated duties. Proposer agrees to furnish to the City any time,upon reasonable prior written or verbal notice. and all documentation, certification, authorization, license, permit, or 38. PROTEST. In the event a prospective proposer wishes to protest any registration currently required by applicable laws, rules, and part of the General Conditions, Special Conditions and/or Technical regulations. Proposer further certifies that it and its employees will Specifications contained in this it must file a notice of protest in writing keep all licenses,permits,registrations,authorizations,or certifications to the Procurement Director,with a copy to the City Clerk,at least ten required by applicable laws or regulations in full force and effect during (10) business days prior to the Proposal opening date and hour the term of this contract. Failure of proposer to comply with this specified in the solicitation. Any proposer, who has a substantial paragraph shall constitute a material breach of this contract. interest in, and is aggrieved in connection with the solicitation or 28. SPECIAL CONDITIONS.Any and all Special Conditions that may vary proposed award may protest to the City Manager or his or her from these General Terms and Conditions shall have precedence. designee anytime until two(2)business days following the release of the City Manager's written recommendation to the City Commission, 29. ANTI-DISCRIMINATION. The proposer certifies that he/she is in as same is set forth and released in the City Commission agenda compliance with the non-discrimination clause contained in Section packet,for award of the proposal in question in accordance with City 202,Executive Order 11246,as amended by Executive Order 11375, of Miami Beach Ordinance No. 2002-3344, which establishes relative to equal employment opportunity for all persons without regard procedures for proposal protests and which can be found on the to race,color,religion,sex or national origin. Procurement website. Failure to file a timely notice of protest will 30. AMERICAN WITH DISABILITIES ACT.To request this material in constitute a waiver of proceedings. accessible format, sign language interpreters, information on access 39. CLARIFICATION AND ADDENDA TO PROPOSAL for persons with disabilities,and/or any accommodation to review any SPECIFICATIONS:If a proposer is in doubt as to the true meaning of document or participate in any city-sponsored proceeding, please the Proposal specifications,or other Proposal documents,.or any part contact 305-604-2489 (voice), 305-673-7524 (fax) or 305-673-7218 thereof, the proposer must submit to the City, at least ten (10) (TTY)five days in advance to initiate your request. TTY users may calendar days prior to the scheduled Proposal opening date,a request also call 711(Florida Relay Service). for clarification. NO QUESTIONS WILL BE RECEIVED VERBALLY 31. LIABILITY, INSURANCE, LICENSES AND PERMITS. Where OR AFTER SAID-DEADLINE. proposer s are required to enter or go on to City of Miami Beach 40. Any interpretation of the Proposal, including, without limitation, property to deliver materials or perform work or services as a result of responses to questions and request for clarification(s)from proposer the Proposal,the proposer will assume the full duty, obligation and s,will be made only by Addendum duly issued by the City. In the expense of obtaining all necessary licenses, permits,and insurance, event of conflict with the original specifications, the Addendum shall and assure all work complies with all Applicable Laws.The proposer supersede such specifications, to the extent specified. Subsequent shall be liable for any damages or loss to the City occasioned by Addendum shall govern over prior Addendum only to the extent negligence of the proposer , or his/her officers, employees, specified.The proposer shall be required to acknowledge receipt of contractors,and/or agents,for failure to comply with Applicable Laws. any and all Addendum, and filling in and signing in the spaces 32. PROPOSAL BONDS,PERFORMANCE BONDS,CERTIFICATES OF provided in section 5.0, Acknowledgements/Affidavits. Failure to INSURANCE.Proposal Bonds,when required,shall be submitted with acknowledge Addendum may deem a proposal non-responsive. the proposal in the amount specified in the Special Conditions. After 41. The City will not be responsible for explanations, interpretations, or acceptance of the proposal,the City will notify the successful proposer answers to questions made verbally or in writing by any City to submit a performance bond and certificate of insurance in the representative,unless issued by the City via formal written Addendum amount specified in the Special Conditions. to this Proposal. 33. DEFAULT.Failure or refusal of a proposer to execute a contract upon 42. Any questions or clarifications concerning the Proposal shall be award,or withdrawal of a proposal before such award is made, may submitted in writing to the Department of Procurement Management result in forfeiture of that portion of any proposal surety required as (DPM) 1700 Convention Center Drive,Miami Beach,FL 33139 with a liquidated damages incurred by the City thereby;or,where surety is copy to the City Clerk not required,failure to execute a contract as described above may be 43. DEMONSTRATION OF COMPETENCY. grounds for removing the proposer from the City's proposers list. 44. Pre-award inspection of the proposer's facility may be made prior to 34. CANCELLATION.In the event any of the provisions of this Proposal the award of contract. are violated by the proposer,the City shall give written notice to the 45. Proposals will only be considered from firms which are regularly proposer stating such deficiencies and,unless such deficiencies are engaged in the business of providing the goods and/or services as corrected within ten (10) calendar days from the date of the City's described in this Proposal. notice,the City,through its City Manager,may declare the contract in 46. Proposers must be able to demonstrate a good record of default and terminate same, without further notice required to the performance for a reasonable period of time, and have sufficient proposer . Notwithstanding the preceding, the City, through its City financial capacity,equipment,and organization to ensure that they can Manager,also reserves the right to terminate the contract at any time satisfactorily perform the services if awarded a contract under the and for any reason,without cause and for convenience,and without terms and conditions of this Proposal. any monetary liability to the City, upon the giving of thirty(30)days 47. The terms"equipment and organization",as used herein shall, prior written notice to the proposer. be construed to mean a fully equipped and well established company 35. BILLING INSTRUCTIONS.Invoices,unless otherwise indicated,must in line with the best business practices in the industry, and as show purchase order numbers and shall be submitted to the ordering determined by the City of Miami Beach. 48. The City may consider any evidence available regarding the 15 RFP 2014-091 MF,Investment Advisory Services ® ;01A Al BEACH financial,technical,and other qualifications and abilities of a proposer 58. COLLUSION.Where two(2)or more related parties each submit a ,including past performance(experience),in making an award that is proposal or proposals for any contract, such proposals or proposals in the best interest of the City. shall be presumed to be collusive. The foregoing presumption may 49. The City may require proposer s to show proof that they have be rebutted by presentation of evidence as to the extent of ownership, been designated as authorized representatives of a manufacturer or control and management of such related parties in the preparation and supplier,which is the actual source of supply. In these instances,the submittal of such proposal or proposals. "Related parties" means City may also require material information from the source of supply proposer s or the principals thereof which have a direct or indirect regarding the quality,packaging,and characteristics of the products to ownership interest in another proposer for the same contract, or in be supply to the City. Any material conflicts between information which a parent company or the principals thereof of one(1)proposer provided by the source of supply and the information contained in the have a direct or indirect ownership interest in another proposer for the proposer's proposal may render the proposal non-responsive. same contract. Proposal or proposals found to be collusive shall be 50. The City may, during the period that the contract between the rejected. City and the successful proposer is in force, review the successful proposer's record of performance to ensure that the proposer is 59. Proposers who have been found to have engaged in collusion may continuing to provide sufficient financial support, equipment, and also be suspended or debarred, and any contract resulting from collusive proposalding may be terminated for cause. organization as p rescribed in this proposal. Irrespective of the proposer's performance on contracts awarded to it by the City,the 60. DISPUTES. In the event of a conflict between the Proposal City may place said contracts on probationary status and implement documents,the order of priority of the documents shall be as follows: termination procedures if the City determines that the successful 61. Any contract or agreement resulting from the award of this proposer no longer possesses the financial support,equipment,and Proposal;then organization which would have been necessary during the proposal 62. Addendum issued for this Proposal,with the latest Addendum evaluation period in order to comply with the demonstration of taking precedence;then competency required under this subsection. 63. The Proposal;then 51. DETERMINATION OF AWARD. Unless otherwise stated in the 64. The proposer's proposal in response to the Proposal. Special Conditions,The City Commission shall award the proposal to 65. REASONABLE ACCOMMODATION.In accordance with Title II of the the lowest and best proposer. In determining the lowest and best Americans with Disabilities Act, any person requiring an proposer,in addition to price,there shall be considered the following: accommodation at the Proposal opening because of a disability must a. The ability,capacity and skill of the proposer to perform contact the Procurement Division. the contract. b. Whether the proposer can perform the contract within the 66. GRATUITIES. Proposer s shall not offer any gratuities, favors, or time specified,without delay or interference. anything of monetary value to any official, employee, contractor, or c. The character, integrity, reputation,judgment, experience agent of the City,for the purpose of influencing consideration of this and efficiency of the proposer. Proposal. d. The quality of performance of previous contracts. 67. SIGNED PROPOSAL CONSIDERED AN OFFER. The signed e. The previous and existing compliance by the proposer with proposal shall be considered an offer on the part of the proposer, Applicable Laws relating to the contract. which offer shall be deemed accepted upon award of the proposal by 52. ASSIGNMENT.The successful proposer shall not assign, transfer, the City Commission.In case of default on the part of the successful convey,sublet or otherwise dispose of the contract, including any or proposer,after such acceptance,the City may procure the items or all of its right,title or interest therein,or his/her or its power to execute services from other sources and hold the proposer responsible for such contract, to any person, company or corporation, without the any excess cost occasioned or incurred thereby. prior written consent of the City. 68. TIE PROPOSALS. In accordance with Florida Statues Section 53. LAWS, PERMITS AND REGULATIONS.The proposer shall obtain 287.087,regarding identical tie proposals,preference will be given to and pay for all licenses, permits,and inspection fees required under proposer s certifying that they have implemented a drug free work the contract;and shall comply with all Applicable Laws. place program. A certification form will be required.In the event of a continued tie between two or more proposer s after consideration of 54. OPTIONAL CONTRACT USAGE.When the successful proposer(s) the drug free workplace program, the City's Local Preference and is in agreement,other units of government or non-profit agencies may Veteran Preference ordinances will dictate the manner by which a tie participate in purchases pursuant to the award of this contract at the is to be resolved. In the event of a continued tie after the Local and option of the unit of government or non-profit agency. Veteran Preference ordinances have been applied or the tie exists 55. SPOT MARKET PURCHASES.It is the intent of the City to purchase between proposer s that are not Local or Veteran,the breaking of the the items specifically listed in this Proposal from the successful tie shall be at the City Manager's discretion, which will make a proposer. However,the City reserves the right to purchase the items recommendation for award to the City Commission. from state or other governmental contract,or on an as-needed basis 69. DELIVERY TIME. Proposers shall specify in the attached Proposal through the City's spot market purchase provisions. Form,the guaranteed delivery time(in calendar days)for each item. It 56. ELIMINATION FROM CONSIDERATION.This proposal shall not be must be a firm delivery time;no ranges(For example,12-14 days)will awarded to any person or firm who is in arrears to the City upon any be accepted. debt, taxes, or contracts which are defaulted as surety or otherwise 70. TERMINATION FOR DEFAULT.If the successful proposer shall fail upon any obligation to the City, to fulfill in a timely manner,or otherwise violate,any of the covenants, 57. ESTIMATED QUANTITIES.Estimated quantities or estimated dollars, agreements, or stipulations material to the Proposal and/or the if provided,are for City guidance only. No guarantee is expressed or contract entered into with the City pursuant thereto, the City shall implied as to quantities or dollars that will be used during the contract thereupon have the right to terminate the work and/or services then period.The City is not obligated to place any order for a given amount remaining to be performed by giving written notice to the proposer of subsequent to the award of this Proposal.Estimates are based upon such termination, which shall become effective upon receipt by the the City's actual needs and/or usage during a previous contract proposer of the written termination notice. period.The City may use said estimates for purposes of determining 71. In that event,the City shall compensate the successful proposer in whether the low proposer meets specifications. accordance with the term of the contract for all work and/or services satisfactorily performed by the proposer prior to termination, net of 16 RFP 2014-091 MF,Investment Advisory Services ® NAIANv d BEACH any costs incurred by the City as a consequence of the default. termination of this Agreement. 72. Notwithstanding the above, the successful proposer shall not be 76. MOD IFICATIONIWITHDRAWALS OF PROPOSALS. A proposer relieved of liability to the City for damages sustained by the City by virtue of any breach of the contract by the proposer,and the City may may submit a modified proposal to replace all or any portion of a reasonably withhold payments to the successful proposer for the previously submitted proposal up until the proposal due date and time. purposes of set off until such time as the exact amount of damages Modifications received after the proposal due date and time will NOT due the City from the successful proposer is determined. be considered. 77 73. The City may, at its discretion, provide reasonable"cure period" for . Proposals shall be irrevocable until contract award unless withdrawn any contractual violation prior to termination of the contract;should the in writing prior to the proposal due date or after expiration of 120 successful proposer fail to take the corrective action specified in the calendar days from the opening of proposals without a contract award. City's notice of default within the allotted cure period, then the City Letters of withdrawal received after the proposal due date and before may proceed to terminate the contract for cause in accordance with said expiration date and letters of withdrawal received after contract award will NOT be considered. this subsection 1.57. 74. TERMINATION FOR CONVENIENCE OF CITY.The City may,for its 78. EXCEPTIONS TO PROPOSAL.Proposers are strongly encouraged convenience,terminate the work and/or services then remaining to be to thoroughly review the specifications and all conditions set forth in performed, at any time, by giving written notice to the successful this Proposal. Proposers who fail to satisfy the requirements in this proposer of such termination,which shall become effective thirty(30) Proposal, may be deemed non-responsive and receive no further days following receipt by proposer of such notice. In that event,all consideration. Should your proposed proposal not be able to meet finished or unfinished documents and other materials shall be properly one(1)or more of the requirements set forth in this Proposal and you delivered to the City. If the contract is terminated by the City as are proposing alternatives and/or exceptions to said requirements,you provided in this subsection,the City shall compensate the successful must notify the Procurement Office, in writing, at least five(5)days proposer in accordance with the terms of the contract for all and prior to the deadline for submission of proposals. The City reserves without cause and/or any resulting liability to the City, work and/or the right to revise the scope of services via Addendum prior to the services actually performed by the successful proposer , and shall deadline for receipt of proposals. also compensate the proposer for its reasonable direct costs in 79. FLORIDA PUBLIC RECORDS LAW.Proposers are hereby notified assembling and delivering to City all documents. No compensation that all Proposal including,without limitation,any and all information shall be due to the successful proposer for any profits that the and documentation submitted therewith, are exempt from public successful proposer expected to earn on the balanced of the contract. records requirements under Section 119.07(1), Florida Statutes, and Such payments shall be the total extent of the City's liability to the s. 24(a),Art. 1 of the State Constitution until such time as the City successful proposer upon a termination as provided for in this provides notice of an intended decision or until thirty(30)days after subsection. opening of the proposals,whichever is earlier.Additionally,Contractor 75. INDEMNIFICATION. The successful Proposer shall indemnify and agrees to be in full compliance with Florida Statute 119.0701 hold harmless the City and its officers, employees, agents and including, but not limited to, agreement to (a) Keep and maintain instrumentalities from any and all liability, losses or damages, public records that ordinarily and necessarily would be required by the including attorney's fees and costs of defense, which the City or its public agency in order to perform the services;(b)provide the public officers,employees,agents or instrumentalities may incur as a result with access to public records on the same terms and conditions that of claims, demands, suits, causes of actions or proceedings of any the public agency would provide the records and at a cost that does kind or nature arising out of, relating to or resulting from the not exceed the cost provided in this chapter or as otherwise provided performance of the agreement by the successful Proposer or its by law;(c)Ensure that public records that are exempt or confidential employees, agents, servants, partners, principals or subcontractors. and exempt from public records disclosure requirements are not The successful Proposer shall pay all claims and losses in connection disclosed except as authorized by law; (d) Meet all requirements for therewith,and shall investigate and defend all claims,suits or actions retaining public records and transfer,at no cost,to the public agency of any kind or nature in the name of the City, where applicable, all public records in possession of the contractor upon termination of including appellate proceedings, and shall pay all costs,judgments, the contract and destroy any duplicate public records that are exempt and attorney's fees which may be incurred thereon. The successful or confidential and exempt from public records disclosure Proposer expressly understands and agrees that any insurance requirements.All records stored electronically must be provided to the protection required by this Agreement or otherwise provided by the public agency in a format that is compatible with the information successful Proposer shall in no way limit the responsibility to technology systems of the public agency. indemnify,keep and save harmless and defend the City or its officers, employees, agents and instrumentalities as herein provided. The above indemnification provisions shall survive the expiration or 17 RFP 2014-091 MF,Investment Advisory Services APPENDIX A m MIAMI BEACH Proposal Certification , Questionnaire & Requirements Affidavit RFP 201 4-091 MF INVESTMENT ADVISORY SERVICES DEPARTMENT OF PROCUREMENT MANAGEMENT 1700 Convention Center Drive Miami Beach, Florida 33139 v +"..:BEACH Page 18 RFP 2014-091 MF, Electronic Agenda System Solicitation No:2014-091 MF Solicitation Title:Investment Advisory Services Procurement Contact:Marta Fernandez Rubio Tel:305-673-7000 Ext.6263 Email:mfernandezrubio @miamibeachfl.gov PROPOSAL CERTIFICATION,QUESTIONNAIRE&REQUIREMENTS AFFIDAVIT Purpose: The purpose of this Proposal Certification, Questionnaire and Requirements Affidavit Form is to inform prospective Proposers of certain SOLICITATION and contractual requirements, and to collect necessary information from Proposers in order that certain portions of responsiveness, responsibility and other determining factors and compliance with requirements may be evaluated. This Proposal Certification, Questionnaire and Requirements Affidavit Form is a REQUIRED FORM that must be submitted fully completed and executed. 1. General Proposer Information. FIRM NAME: No of Years in Business: No of Years in Business Locally: No.of Employees: OTHER NAME(S)PROPOSER HAS OPERATED UNDER IN THE LAST 10 YEARS: FIRM PRIMARY ADDRESS(HEADQUARTERS): CITY: STATE: TELEPHONE NO.: TOLL FREE NO.: FAX NO.: FIRM LOCAL ADDRESS: CITY: STATE: PRIMARY ACCOUNT REPRESENTATIVE FOR THIS ENGAGEMENT: ACCOUNT REP TELEPHONE NO.: ACCOUNT REP TOLL FREE NO.: ACCOUNT REP EMAIL: FEDERAL TAX IDENTIFICATION NO.: The City reserves the right to seek additional information from proposer or other source(s), including but not limited to: any firm or principal information,applicable licensure, resumes of relevant individuals,client information,financial information,or any information the City deems necessary to evaluate the capacity of the proposer to perform in accordance with contract requirements. i Md'AaVd BEACH Page 19 RFP 2014-091 MF,Electronic Agenda System 2. Miami Beach Based(Local)Vendor.Is proposer a Miami Beach based firm? 0 YES 0 NO SUBMITTAL REQUIREMENT:Proposers claiming Miami Beach vendor status shall submit a Business Tax Receipt issued by the City of Miami Beach, as required pursuant to ordinance 2011-3747, to demonstrate that the Proposer is a Miami Beach Based Vendor. 3. Veteran Owned Business. Is proposer a veteran owned business? YES 0 NO SUBMITTAL REQUIREMENT: Proposers claiming veteran owned business status shall submit a documentation proving that firm is certified as a veteran-owned business or a service-disabled veteran owned business by the State of Florida or United States federal government,as required pursuant to ordinance 2011-3748. 4. Litigation History. Proposer shall submit a statement of any litigation or regulatory action that has been filed against your firm(s) in the last five years. If an action has been filed, state and describe the litigation or regulatory action filed, and identify the court or agency before which the action was instituted, the applicable case or file number, and the status or disposition for such reported action. If no litigation or regulatory action has been filed against your firm(s), provide a statement to that effect. If"No"litigation or regulatory action has been filed against your firm(s),please provide a statement to that effect. Truthful and complete answers to this question may not necessarily disqualify a firm from consideration but will be a factor in the selection process.Untruthful,misleading or false answers to this question shall result in the disqualification of the firm for this project. SUBMITTAL REQUIREMENT:Proposer shall submit history of litigation or regulatory action filed against proposer, or any proposer team member firm, in the past five(5)years. If Proposer has no litigation history or regulatory action in the past 5 years,submit a statement accordingly. 5. References & Past Performance. Proposer shall submit at least three (3) references for whom the proposer has completed work similar in size and nature as the work referenced in solicitation. SUBMITTAL REQUIREMENT: Proposer shall submit a minimum of three (3) references, including the following information: 1) Firm Name, 2) Contact Individual Name & Title, 3) Address, 4) Telephone, 5) Contact's Email and 6) Narrative on Scope of Services Provided. 6. Suspension, Debarment or Contract Cancellation. Has proposer ever been debarred, suspended or other legal violation,or had a contract cancelled due to non-performance by any public sector agency? 0 YES NO SUBMITTAL REQUIREMENT: If answer to above is"YES," Proposer shall submit a statement detailing the reasons that led to action(s). 7. Vendor Campaign Contributions. Proposers are expected to be or become familiar with, the City's Campaign Finance Reform laws, as codified in Sections 2-487 through 2-490 of the City Code. Proposers shall be solely responsible for ensuring that all applicable provisions of the City's Campaign Finance Reform laws are complied with,and shall be subject to any and all sanctions, as prescribed therein, including disqualification of their Proposals, in the event of such non- compliance. SUBMITTAL REQUIREMENT: Submit the names of all individuals or entities (including your sub-consultants) with a controlling financial interest as defined in RFP. For each individual or entity with a controlling financial interest indicate whether or not each individual or entity has contributed to the campaign either directly or indirectly,of a candidate who has been elected to the office of Mayor or City Commissioner for the City of Miami Beach. 8. Code of Business Ethics. Pursuant to City Resolution No.2000-23879, each person or entity that seeks to do business with the City shall adopt a Code of Business Ethics ("Code") and submit that Code to the Procurement Division with its proposal/response or within five (5)days upon receipt of request. The Code shall, at a minimum, require the Proposer, to comply with all applicable governmental rules and regulations including, among others,the conflict of interest, lobbying and ethics provision of the City of Miami Beach and Miami Dade County. SUBMITTAL REQUIREMENT: Proposer shall submit firm's Code of Business Ethics. In lieu of submitting Code of 1197 NAI IVY l BEACH Page 20 RFP 2014-091 MF, Electronic Agenda System i Business Ethics, proposer may submit a statement indicating that it will adopt, as required in the ordinance, the City of Miami Beach Code of Ethics,available at www.miamibeachfl.gov/procurement/. 9. , pmposeFs shall be Fequired to pay-all employee-s whe pmvide —viw— ..FE;Yant to this AgFeeMeRt, the heuFly living wage Fates listed below; GGMMGRGiRg With City fiGGal yeaF 2012 13 (GGtebeF 1, 2012), the hGurly liviRg Fate will be $11. with health benefits, and$17 921hr without benefits The 1iViRg wage rate and health Gare benefits rate may, by ReselutiGn of the Gity Gommission be annually fdr 6 RflatiGR using the Gensumer PFiGe index for all UFban GGnsymeFs (GPI W) Miami/Ft. LaudeFdale, by the Department of U.S. Labor's peFGeRt(3%).The Gity may also, by FesolutieR,e!eGt RE)t tG iRdex the living wage rate iR any pailiGUlar year, if it deteFFnin Would not be fiGGally sound to implement same(iR a paFtIGUlar year). ProposeFs' failyFe to Gemply with this shall be deemed a material bFeaGh under this pmposal, YF;der WhiGh the City may, at its sole eption, immediately deem said pmposeF as RGR iespensi, and may fuFtheF GU�eGt preposer to additional penalties and fiRes, as provided an the , Living Wag it is available at www.FR'an;abeaGhfi.goV/PFOGUFeF:n SUBMITTAL REQUIREMENT; Ne addotiGnal submittal is FequeFed. By viFtye of exeGUtiRg this affidavit dOGUR;eRt, PFE)P()GeF agrees to the living wane reg,,irement 10. Equal Benefits for Employees with Spouses and Employees with Domestic Partners. When awarding competitively solicited contracts valued at over$100,000 whose contractors maintain 51 or more full time employees on their payrolls during 20 or more calendar work weeks, the Equal Benefits for Domestic Partners Ordinance 2005-3494 requires certain contractors doing business with the City of Miami Beach,who are awarded a contract pursuant to competitive proposals,to provide "Equal Benefits" to their employees with domestic partners, as they provide to employees with spouses. The Ordinance applies to all employees of a Contractor who work within the City limits of the City of Miami Beach, Florida; and the Contractor's employees located in the United States, but outside of the City of Miami Beach limits, who are directly performing work on the contract within the City of Miami Beach. A. Does your company provide or offer access to any benefits to employees with spouses or to spouses of employees? 0 YES 0 NO B. Does your company provide or offer access to any benefits to employees with (same or opposite sex) domestic partners*or to domestic partners of employees? 0 YES 0 NO C. Please check all benefits that apply to your answers above and list in the"other"section any additional benefits not already specified. Note: some benefits are provided to employees because they have a spouse or domestic partner, such as bereavement leave;other benefits are provided directly to the spouse or domestic partner,such as medical insurance. BENEFIT Firm Provides for Firm Provides for Firm does not Employees with Employees with Provide Benefit Spouses Domestic Partners Health Sick Leave Family Medical Leave Bereavement Leave If Proposer cannot offer a benefit to domestic partners because of reasons outside your control, (e.g., there are no insurance providers in your area willing to offer domestic partner coverage)you may be eligible for Reasonable Measures compliance. To comply on this basis, you must agree to pay a cash equivalent and submit a completed Reasonable Measures Application (attached) with all necessary documentation. Your Reasonable Measures Application will be reviewed for consideration by the City Manager, or his designee. Approval is not guaranteed and the City Manager's decision is final. Further information on the Equal Benefits requirement is available at www.miamibeachfi.gov/procuremenY. j%/'lAJ/d BEACH Page 21 RFP 2014-091 MF, Electronic Agenda System 11. Public Entity Crimes. Section 287.133(2)(a), Florida Statutes, as currently enacted or as amended from time to time, states that a person or affiliate who has been placed on the convicted vendor list following a conviction for a public entity crime may not submit a proposal, proposal, or reply on a contract to provide any goods or services to a public entity; may not submit a proposal, proposal,or reply on a contract with a public entity for the construction or repair of a public building or public work; may not submit proposals, proposals, or replies on leases of real property to a public entity; may not be awarded or perform work as a contractor,supplier, subcontractor,or consultant under a contract with any public entity;and may not transact business with any public entity in excess of the threshold amount provided in s. 287.017 for CATEGORY TWO for a period of 36 months following the date of being placed on the convicted vendor list. SUBMITTAL REQUIREMENT: No additional submittal is required. By virtue of executing this affidavit document, proposer agrees with the requirements of Section 287.133, Florida Statutes,and certifies it has not been placed on convicted vendor list. 12. Acknowledgement of Addendum. After issuance of solicitation, the City may release one or more addendum to the solicitation which may provide additional information to proposers or alter solicitation requirements. The City will strive to reach every Proposer having received solicitation through the City's e-procurement system, PublicPurchase.com. However, Proposers are solely responsible for assuring they have received any and all addendum issued pursuant to solicitation. This Acknowledgement of Addendum section certifies that the Proposer has received all addendum released by the City pursuant to this solicitation. Failure to obtain and acknowledge receipt of all addendum may result in proposal disqualification. Initial to Confirm Initial to Confirm Initial to Confirm Receipt Receipt Receipt Addendum 1 Addendum 6 Addendum 11 Addendum 2 Addendum 7 Addendum 12 Addendum 3 Addendum 8 Addendum 13 Addendum 4 Addendum 9 Addendum 14 Addendum 5 Addendum 10 Addendum 15 If additional confirmation of addendum is required,submit under separate cover. ® NA,I A,,1t,`!I BEACH Page 22 RFP 2014-091 MF, Electronic Agenda System DISCLOSURE DISCLAIMER SECTION The solicitation referenced herein is being furnished to the recipient by the City of Miami Beach (the "City") for the recipient's convenience.Any action taken by the City in response to Proposals made pursuant to this RFP,or in making any award,or in failing or refusing to make any award pursuant to such Proposals, or in cancelling awards, or in withdrawing or cancelling this RFP, either before or after issuance of an award,shall be without any liability or obligation on the part of the City. In its sole discretion,the City may withdraw the solicitation either before or after receiving proposals,may accept or reject proposals, and may accept proposals which deviate from the solicitation, as it deems appropriate and in its best interest. In its sole discretion, the City may determine the qualifications and acceptability of any party or parties submitting Proposals in response to this solicitation. Following submission of a Proposal or Proposal, the applicant agrees to deliver such further details, information and assurances, including financial and disclosure data, relating to the Proposal and the applicant including, without limitation, the applicant's affiliates,officers,directors,shareholders,partners and employees,as requested by the City in its discretion. The information contained herein is provided solely for the convenience of prospective Proposers. It is the responsibility of the recipient to assure itself that information contained herein is accurate and complete.The City does not provide any assurances as to the accuracy of any information in this solicitation. Any reliance on these contents,or on any permitted communications with City officials,shall be at the recipient's own risk. Proposers should rely exclusively on their own investigations, interpretations, and analyses. The solicitation is being provided by the City without any warranty or representation, express or implied, as to its content, its accuracy, or its completeness. No warranty or representation is made by the City or its agents that any Proposal conforming to these requirements will be selected for consideration, negotiation,or approval. The City shall have no obligation or liability with respect to this solicitation, the selection and the award process, or whether any award will be made.Any recipient of this solicitation who responds hereto fully acknowledges all the provisions of this Disclosure and Disclaimer,is totally relying on this Disclosure and Disclaimer,and agrees to be bound by the terms hereof.Any Proposals submitted to the City pursuant to this RFP are submitted at the sole risk and responsibility of the party submitting such Proposal. This RFP is made subject to correction of errors,omissions,or withdrawal from the market without notice. Information is for guidance only,and does not constitute all or any part of an agreement. The City and all Proposers will be bound only as, if and when a Proposal (or Proposals), as same may be modified, and the applicable definitive agreements pertaining thereto,are approved and executed by the parties,and then only pursuant to the terms of the definitive agreements executed among the parties. Any response to this solicitation may be accepted or rejected by the City for any reason,or for no reason,without any resultant liability to the City. The City is governed by the Government-in-the-Sunshine Law, and all Proposals and supporting documents shall be subject to disclosure as required by such law. All Proposals shall be submitted in sealed proposal form and shall remain confidential to the extent permitted by Florida Statutes, until the date and time selected for opening the responses.At that time,all documents received by the City shall become public records. Proposers are expected to make all disclosures and declarations as requested in this solicitation. By submission of a Proposal, the Proposer acknowledges and agrees that the City has the right to make any inquiry or investigation it deems appropriate to substantiate or supplement information contained in the Proposal, and authorizes the release to the City of any and all information sought in such inquiry or investigation. Each Proposer certifies that the information contained in the Proposal is true, accurate and complete,to the best of its knowledge,information,and belief. Notwithstanding the foregoing or anything contained in the RFP, all Proposers agree that in the event of a final unappealable judgment by a court of competent jurisdiction which imposes on the City any liability arising out of this RFP, or any response thereto, or any action or inaction by the City with respect thereto, such liability shall be limited to$10,000.00 as agreed-upon and liquidated damages. The previous sentence, however, shall not be construed to circumvent any of the other provisions of this Disclosure and Disclaimer which imposes no liability on the City. In the event of any differences in language between this Disclosure and Disclaimer and the balance of the RFP, it is understood that the provisions of this Disclosure and Disclaimer shall always govern. The RFP and any disputes arising from the RFP shall be governed by and construed in accordance with the laws of the State of Florida. N'MA/d BEACH Page 23 RFP 2014-091MF,Electronic Agenda System PROPOSER CERTIFICATION I hereby certify that: I, as an authorized agent of the Proposer, am submitting the following information as my firm's proposal; Proposer agrees to complete and unconditional acceptance of the terms and conditions of this document, inclusive of this RFP, all attachments, exhibits and appendices and the contents of any Addenda released hereto, and .the Disclosure and Disclaimer Statement; proposer agrees to be bound to any and all specifications, terms and conditions contained in the RFP, and any released Addenda and understand that the following are requirements of this SOLICITATION and failure to comply will result in disqualification of proposal submitted; Proposer has not divulged, discussed, or compared the proposal with other Proposers and has not colluded with any other proposer or party to any other proposal; proposer acknowledges that all information contained herein is part of the public domain as defined by the State of Florida Sunshine and Public Records Laws; all responses, data and information contained in this proposal, inclusive of the Proposal Certification, Questionnaire and Requirements Affidavit are true and accurate. Name of Proposers Authorized Representative: Title of Proposer's Authorized Representative: Signature of Proposers Authorized Representative: Date: State of FLORIDA ) On this day of ,20_, personally appeared before me who County of ) stated that (s)he is the of a corporation, and that the instrument was signed in behalf of the said corporation by authority of its board of directors and acknowledged said instrument to be its voluntary act and deed. Before me: Notary Public for the State of My Commission Expires: ® ,MI EMI BEACH Page 24 RFP 2014-091 MF,Electronic Agenda System APPENDIX "B" MINIMUM REQUIREMENTS CHECKLIST RFP 2014-091 MF, INVESTMENT ADVISORY SERVICES Does your firm meet the following Minimum Requirements? Response C®tecip - (Yes/No) (Indicate whether your firm meets the Minimum Requirement, if provided by a third party, please indicate 3P in the optional description/notes) Response Description/Notes MINIMUM REQUIREMENTS Yes/No 1 Firm or principals must have a minimum of ten (10) Submit detailed response under Section IV, years of experience in managing fixed income assets Tab 2 for state and local governments with your proposal. 2 Firm must currently manage at least $5 billion of Submit detailed response under Section IV, domestic fixed income assets with your proposal. Tab 2 3 Provide a minimum of three(3)governmental accounts Submit detailed response under Section IV, that the firm is currently providing investment advisory Tab 2 services to. 4 Firm must assign an account manager to the City with Submit detailed response under Section IV, a minimum of ten(10)years experience in providing Tab 2 investment advisory services. ® NA AAA BEACH Page 25 RFP 2014-091 MF, Electronic Agenda System i APPENDIX "C" COST PROPOSAL RFP 2014-091 MF, INVESTMENT ADVISORY SERVICES PROPOSER'S NAME: Proposers may submit further detailed attachments to the cost proposal. However, all costs must be submitted using the following fee structure. Fees based on a total Asset Value of $522 million. Fees based on various tiers to be determined by the proposer are acceptable, ANNUAL FEE ASSET VALUE TOTAL (TIER TO BE DETERMINED BY PROPOSER) Asset Value Tier A $ up to $ $ Asset Value Tier B $ in excess of $ $ and less than $ Asset Value Tier C $ in excess of $ $ and less than $ Asset Value Tier D $ in excess of $ $ and less than $ ANY and ALL ANNUAL ADMINISTRATIVE EXPENSES (To be detailed on a separate sheet) $ TOTAL ANNUAL COST TO THE CITY FOR INVESTMENT ADVISORY SERVICES BASED ON $522 MILLION IN ASSETS $ Proposer shall provide all fee structures that apply to this RFP. Proposer may utilize additional lines if needed to add additional tiers. �r!IBEACH Page 26 RFP 2014-091 MF,Electronic Agenda System