98-22982 RESO
RESOLUTION NO.
98-22982
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY
OF MIAMI BEACH, FLORIDA, ACCEPTING THE RANKING OF
PROPOSALS RECEIVED AND AUTHORIZING THE ADMINISTRATION TO
ENTER INTO NEGOTIATIONS AND CONTRACT WITH THE NUMBER-ONE
RANKED FIRM, SUNTRUST BANK, PURSUANT TO REQUEST FOR
PROPOSALS (RFP) NO. 80-97/00 FOR PROVISION OF VARIOUS BANKING
SERVICES, FOR A THREE YEAR PERIOD.
WHEREAS, the City issued Request for Proposals (RFP) No. 80-97/00 to provide various
banking services for a three-year period; and
WHEREAS, specification packages for RFP No. 80-97/00 were issued on September 14,
1998, resulting in the receipt of two (2) responsive proposals; and
WHEREAS, an Evaluation Committee recommended by the City Manager met on
November 24, 1998, and recommended SunTrust Bank as the first-ranked respondent; and
WHEREAS, the City Manager has reviewed the responses and the recommendation of the
Evaluation Committee and concurs with the Evaluation Committee's recommendation.
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 herein authorize the Administration to enter into negotiations and a contract with
SunTrust Bank pursuant to RFP No. 80-97/00 to provide various banking services for a three-year
period.
PASSED and ADOPTED this 2nd day of December, 1998.
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~Y~ERK
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MA YOR
APPROVED AS TO
FORM & LANGUAGE
& FOR EXECUTION
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Date
CITY OF MIAMI BEACH
:;ITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH, FLORIDA 33139
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COMMISSION MEMORANDUM NO. cr561 J::r8
TO:
Mayor Neisen O. Kasdin and
Members of the City Co mission
DATE: December 2,1998
FROM: Sergio Rodriguez
City Manager
SUBJECT: A Resolution the Mayor and City Commission of the City of Miami~each,
Florida, Accepting the Ranking of Proposals Received and Authorizing the
Administration to Enter into Negotiations and Contract with the Number-One
Ranked Bank, SunTrust Bank, Pursuant to Request for Proposals (RFP) No.
80-97/00 for Provision of Various Banking Services to the City of Miami Beach,
for a Three-Year Period.
ADMINISTRATION RECOMMENDATION
Adopt the Resolution.
FUNDING
Funds are available through offset against the interest earned on overnight investments.
BACKGROUND
Every three years the City issues an RFP seeking competitive pricing for various banking services
involving the general operating and payroll accounts. These services consists of: a General
Depository Account for funds received daily; a General Disbursing Account which is strictly a
checking account; a Payroll Disbursing Account to cover bi-weekly payroll; computerized
services, including debit/credit memos and monthly statements; automatic redeposit of items
returned; processing of Master Card and Visa payments; direct deposits of payroll checks; the count
and deposit of parking meter collections; credit card processing; and lock box account processing.
A Request for Proposal was approved by the Mayor and City Commission on September 9, 1998 and
was issued on September 14, 1998, with an opening date of October 13, 1998. Twenty-one (21)
proposals were issued and resulted in the receipt of proposals from the following two (2) banks:
First Union National Bank; and
SunTrust Bank.
Agenda Iten1 L 1 E-
Date l2 -2-9 g
RFP No. 80-97/00
Page Two
December 2, 1998
ANALYSIS
An Evaluation Committee, comprised of the following persons, met on November 24, 1998, to
review and discuss the proposals:
Eva Barreto, Manager, Ocean Bank;
Larry Herrup, Chair, Budget Advisory Committee, Independent CPA;
Marc Jacobson, Budget Advisory Committee Member, Resident;
Jim Stamos, Financial Analyst, Parking Department, City of Miami Beach;
James Sutter, Internal Auditor, City of Miami Beach;
Patricia Walker, Finance Director, City of Miami Beach; and
Clark Reynolds, Vice President, J. A. Mortgage of Coral Gables.
The proposal were evaluated based on the criteria set forth in the RFP as approved by the Mayor
and City Commission on September 9, 1998. The criteria included: the completeness of the
proposal in accordance with the scope of services section of the RFP; the proposed price per unit:
and the willingness and capability of the bank to meet the required services.
The committee unanimously recommended SunTrust Bank as the top-ranked respondent because
of its extensive experience in servicing the City the past three years, competitive pricing based on
the estimated annual volume of transactions and the willingness and capability of the Bank to
provide enhanced electronic daily information and processing of our transactions. The Committee
also indicated that SunTrust offered the availability of local management and responsive customer
oriented service.
In accordance with the terms of the RFP, the City Manager has reviewed the Evaluation
Committee's recommendation and concurs with its ranking of proposals.
CONCLUSION
The City Commission should adopt the Resolution to negotiate and award of this contract to
SunTrust Bank.
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