97-22341 RESO
RESOLUTION NO. 97-22341
A RESOLUTION OF THE MAYOR AND CITY
COMMISSION OF THE CITY OF MIAMI BEACH,
FLORIDA, AUTHORIZING THE ADMINISTRATION TO
ISSUE A REQUEST FOR PROPOSALS FOR THE
PROVISION OF FINANCIAL ADVISORY SERVICES
TO THE CITY OF MIAMI BEACH, FOR A TWO-YEAR
PERIOD, WITH THREE ONE-YEAR RENEWAL
OPTIONS
WHEREAS, on May 17,1995, the Mayor and City Commission appointed the fin,
of Rauscher Pierce Refsnes, Inc. as financial advisor to the City; and
WHEREAS, the financial advisors' two-year term will expire, and the City is seeldn.~
the services of an experienced and qualified firm to provide financial advisory services; an::i
WHEREAS, the Administration has drafted a Request for Proposals for providin.~
the said services and set a tentative date of April 29, 1997, as the deadline for receipt cf
proposals.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND CIT1
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the Mayor and Gi1(
Commission hereby authorize the Administration to issue a Request for Proposals for th,~
provision of financial advisory services to the City of Miami Beach for a two-year perio( ,
with three one-year renewal options.
PASSED and ADOPTED this 2nd day of April, ~ 997
MAYOR
ATTEST:
K~~~r~
CITY CLERK
APPROVED AS TO
FORM & lANGUAGE
& FOR EXECUTION
1ft ~ :.1./2--s>/r; 7
a;AItorMy ~
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH FLORIDA 33139
CITY OF MIAMI BEACH
OFFICE OF THE CITY MANAGER
TELEPHONE: (3(p5)i73-7010
FAX: (3(15)i73-7782
COMMISSION MEMORANDUM NO. ~:ll-ql
TO:
Mayor Seymour Gelber and
Member of the City Commission
April 2, 1997
FROM: Jose Garcia-Pedrosa
City Manager
SUBJECT: RESOLUTION A HORIZING THE ISSUANCE OF AN RFP FOF
FINANCIAL ADVISORY SERVICES, FOR A TWO-YEAR PERIOD WITI-
THREE ONE-YEAR RENEWAL OPTIONS
ADMINISTRATION RECOMMENDATION:
Approve the Resolution.
BACKGROUND:
On May 17, 1995, the Mayor and City Commission appointed the firm of Rauscher Pie 'CE
Refsnes, Inc., as Financial Advisor to the City for a period of two years.
Attached is a proposed RFP for providing financial advisory services to the City. ThE
scope of services includes financial planning, project financial analysis, investm:m
management, debt issuance, reporting, evaluation of proposals, development of a financia
strategy for capital projects taking into consideration the City's short and long-term financia
needs, available financing options and alternative debt structures, and computer sup~ or,
and modeling for complex financial analysis. The firm will also assist in the selectior 0:
investment banking teams for the City.
The firm selected will participate in future bond issues by assisting the City vlitt
development of timetables, preparation of preliminary and final official statements, bClnc
resolutions, and other documentation as may be required. Further, the Financial Advi5o'
will make recommendations of appropriate credit structures, evaluate the use of variow
credit enhancements, participate in presentations to the rating agencies and review:hE
marketing and sale of any debt prior to, during and after the pricing of bonds. Further,':hEI
selected firm shall assist the City in the development of strategies for investment of bone!
proceeds as well as provide final analysis of bond sales.
Agenda Item i::~, C-
Oate ~~-17
The Financial Advisor will also assist the City in the development and implementation of
various investment strategies, including research and evaluation of the structuring, timinCI
and procurement of investments to implement a specific strategy.
CONCLUSION:
The issuance of the RFP will allow the City to move forward with the selection of a firm to
provide financial advisory services for the ensuing two-year period.
JGP:~P
F.IFINAI$DIRIWPWIN60\1997\CITYCOMMIFINADV.WPD
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