2002-24847 Reso
RESOLUTION NO.
2002-24847
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY
OF MIAMI BEACH ACCEPTING THE RECOMMENDATION OF THE CITY
MANAGER PERTAINING TO REQUEST FOR PROPOSALS (RFP) 8-01102
RECEIVED FOR PROVISIONS OF VARIOUS BANKING SERVICES TO
THE CITY OF MIAMI BEACH; AUTHORIZING THE ADMINISTRATION TO
ENTER INTO NEGOTIATIONS AND CONTRACT WITH THE TOP RANKED
BANK OF SUNTRUST BANK, MIAMI; AND IF UNSUCCESSFUL IN
NEGOTIATIONS WITH THE MOST QUALIFIED BANK, AUTHORIZING
THE ADMINISTRATION TO ENTER INTO NEGOTIATIONS WITH THE
SECOND MOST QUALIFIED BANK, FIRST UNION NATIONAL BANK;
AND IF UNSUCCESSFUL IN NEGOTIATING A CONTRACT WITH THE
SECOND MOST QUALIFIED BANK, AUTHORIZING THE
ADMINISTRATION TO ENTER INTO NEGOTIATIONS WITH THE THIRD
MOST QUALIFIED BANK, BANK OF AMERICA.
WHEREAS, every three years the City issues an RFP seeking competitive pricing
for various banking services involving the general operating and payroll accounts; and
WHEREAS, the cost of these services is paid from the interest earned on the City's
overnight investment balances held by the bank; and
WHEREAS, a Request for Proposals (RFP) No. 08-01/02 was issued on December
17, 2001, with a deadline for the receipt of proposals of January 25, 2002, resulting in the
receipt of three responsive proposals; and
WHEREAS, Letter to Commission (LTC) No. 53-2002, appointed an evaluation
committee to recommend to the City Manager; and
WHEREAS, on the April 2, 2002, Committee deliberated and scored the firms as
follows: (1) SunTrust Bank as the top-ranked respondent with 2275 points; (2) First Union
National Bank with 1955 points; (3) Bank of America with 1330 points; and
WHEREAS, the banking services are to be performed for the City on a contractual
basis for three (3) years with two (2) one-year renewal options.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the Miami Beach City
Commission accept the recommendation of the City Manager pertaining to Request for
Proposal (RFP) 8-00/01 received for provisions of various banking services to the City of
Miami Beach; authorizing the Administration to enter into negotiations and contract with the
top ranked bank of SunTrust Bank, Miami; and if unsuccessful in negotiations with the
most qualified bank, authorizing the Administration to enter into negotiations with the
second most qualified bank, First Union National Bank; and if unsuccessful in negotiating a
contract with the second most qualified bank, authorizing the Administration to enter into
negotiations with the third most qualified bank, Bank of America.
PASSED and ADOPTED this
May
,2002.
ATTEST:
~,AM~ raA~
CITY CLERK
-- . oVEO AS TO
APPR & LANGl!Il.GE
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CITY OF MIAMI BEACH
COMMISSION ITEM SUMMARY
m
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Condensed Title:
The award of contract to top ranked bank, Suntrust Bank, Miami for various banking services involving the
general operating and payroll accounts pursuant to RFP 8-01102
Issue:
Whether to authorize negotiation and contract with most qualified bank of Suntrust.
Item Summary/Recommendation:
Services consist of a General Depository Account for funds collected daily; a General Disbursing
Account which is strictly a checking account; a Payroll Disbursing Account to cover bi-weekly payroll;
computerized services, including direct deposits, control pay, web pay, debit/credit memos, ACH
deposits, daily and monthly statements and stop payments; lockbox processing; wire transfers; zero
balance and sweep services and automatic redeposit of items returned.
Recommendation: Authorization to contract.
Advisory Board Recommendation:
I N/A
Financial Information:
Amount to be expended: The cost of these services is paid from the interest earned on the City's
overnight investment balances held by the bank.
Source of Amount Account Approved
Fund., [2] 1
N/A
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Assistant City Manager
PDW
City Manager
AGENDA ITEM C 7 5
DATE S"-8"-Od-..
CITY OF MIAMI BEACH
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH, FLORIDA 33139
www.ci.miami-beach.ll.us
To:
From:
Subject:
COMMISSION MEMORANDUM
Mayor David Dermer and Date: May 8, 2002
Members of the City Commission
Jorge M. Gonzalez \ /'
City Manager , J vvJ{)
C
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY
OF MIAMI BEACH, FLORIDA ACCEPTING THE RECOMMENDATION OF
THE CITY MANAGER PERTAINING TO REQUEST FOR PROPOSALS
(RFP) 8-01/02, FOR PROVISIONS OF VARIOUS BANKING SERVICES TO
THE CITY OF MIAMI BEACH; AUTHORIZING THE ADMINISTRATION TO
ENTER INTO NEGOTIATIONS AND CONTRACT WITH THE TOP RANKED
BANK OF SUNTRUST BANK, MIAMI; AND IF UNSUCCESSFUL IN
NEGOTIATIONS WITH THE MOST QUALIFIED BANK, AUTHORIZING
THE ADMINISTRATION TO ENTER INTO NEGOTIATIONS WITH THE
SECOND MOST QUALIFIED BANK, FIRST UNION NATIONAL BANK;
AND IF UNSUCCESSFUL IN NEGOTIATING A CONTRACT WITH THE
SECOND MOST QUALIFIED BANK, AUTHORIZING THE
ADMINISTRATION TO ENTER INTO NEGOTIATIONS WITH THE THIRD
MOST QUALIFIED BANK, BANK OF AMERICA.
ADMINISTRATIVE RECOMMENDATION
Adopt the Resolution.
ANALYSIS
Every three years the City issues an RFP seeking competitive pricing for various banking
services involving the general operating and payroll accounts. These services consist of a
General Depository Account for funds collected daily; a General Disbursing Account which
is strictly a checking account; a Payroll Disbursing Account to cover bi-weekly payroll;
computerized services, including direct deposits, control pay, web pay, debit/credit memos,
Automated Clearing House (ACH) deposits, daily and monthly statements and stop
payments; lockbox processing; wire transfers; zero balance and sweep services and
automatic redeposit of items returned. The banking services are to be performed for the
City on a contractual basis for three (3) years with two (2) one-year renewal options.
The cost of these services is paid from the interest earned on the City's overnight
investment balances held by the bank.
Request for Proposals (RFP) No. 08-01/02 was issued on December 17, 2001, with a
deadline for the receipt of proposals of January 25,2002. One-hundred-eighty-three (183)
Commission Memorandum
Banking Services
May 8, 2002
Page 2 of 3
notices were issued by DemandStar by Onvia with eight (8) vendors downloading the RFP.
This resulted in the receipt of the following three responsive proposals:
1. Bank of America
2. First Union National Bank
3. Suntrust Bank, Miami
EVALUATION COMMITTEE:
Letter to Commission (LTC) No. 53-2002 dated March 5, 2002, established an Evaluation
Committee ("the Committee") of the following individuals:
Larry Herrup, Chair, Budget Advisory Committee, Independent CPA
Jeryl (Deede) Weithorn, Budget Advisory Committee, Independent CPA
Tony Rodriguez, Budget Advisory Committee, Investment Banker
Georgina P. Echert, Assistant Finance Director, City of Miami Beach
Saul Frances, Parking Director, City of Miami Beach
James Sutter, Internal Auditor City of Miami Beach
COMMITTEE MEETING:
The Evaluation Committee held its initial meeting on April 2, 2002 and was briefed on
several aspects of the RFP requirements and the City's policies and procedures relative to
the Cone of Silence Ordinance and the Government in the Sunshine Law. James Sutter
recused himself because of a conflict of interest. Larry Herrup was selected as the Chair of
the Committee.
The Committee discussed and evaluated each award criteria set forth in the RFP as
approved by the Mayor and City Commission on November 28, 2001, and scored each
proposal based on the following:
1) State of the Art Technology - On-line Services
2) Charges for Services
3) Personal Contact Points - Customer Service
4) Overnight Repurchase Agreement Rate
20%
25%
25%
30%
The committee unanimously recommended SunTrust Bank as the top-ranked respondent
because of its competitive pricing as illustrated on the attached pricing worksheet. The
Committee also indicated that SunTrust offered the availability of local management and
responsive customer oriented services, All decision making representatives, Treasury
Management services and back-up representatives for Suntrust are local, including a CEO
and President. In comparison, the other respondents have key personnel outside of
Miami-Dade County.
Commission Memorandum
Banking Services
May 8, 2002
Page 3 of 3
Each member's score is reflected in the following tabulation:
Tabulation
COMMITTEE FIRM FIRM FIRM
MEMBER
BANK OF AMERICA FIRST UNION SUNTRUST
LARRY HERRUP 290 400 470
DEEDE WEITHORN 235 405 420
TONY RODRIGUEZ 180 325 470
GEORGINA ECHERT 335 425 470
SAUL FRANCIS 290 400 445
TOTALS 1330 1955 2275
The Committee ranked results were as follows:
Top ranked bank:
Second ranked bank:
Third ranked bank:
Suntrust Bank
First Union
Bank of America
On April 16, 2002 all firms that submitted their proposals were advised of the
aforementioned results.
CONCLUSION
The Administration recommends that the Mayor and City Commission adopt the attached
Resolution authorizing the Administration to negotiate and contract with the most qualified
bank, Suntrust.
JMG:PDW:GL:mc
T:\AGENDA\2002\MAYOB02\CONSENT\BANKING SERV,C MEMO..doc
J.OO;<~lC(t V7
MASTER BANKING SERVICES AGREEMENT
THIS MASTER BANKING SERVICES AGREEMENT (the "Agreement") is made and entered
into on the _ day of , 2002 by and between the CITY OF MIAMI BEACH,
FLORIDA, a municipality of the State of Florida (the "City"), and SUNTRUST BANK, a state
member bank of the Federal Reserve System (the "Bank").
WITNESSETH
WHEREAS, the City issued Request for Proposals No. 08-0ll02 for a Banking Services on
December 17,2001 ("RFP"); and
WHEREAS, the Bank responded to the RFP by submitting its proposal for banking services
on ~ (the "Proposal"); and
WHEREAS, the Bank shall be providing banking services to the City set forth and
delineated in the RFP and the Proposal, and
NOW, THEREFORE, in consideration of the foregoing premises and other good and
valuable consideration, the receipt and adequacy of which are hereby acknowledged, the City and
Bank hereby covenant and agree as follows:
Section 1.
Purpose and Effect of this Agreement: Delineation of Banking Services
The Banking Services to be Provided to the City by the Bank shall be consist of:
(a) Each ofthe specific requirements, terms and conditions set forth in the RFP, which
is incorporated herein by reference in its entirety; and
(b) Each of the services, terms and conditions set forth in the Proposal, which is
incorporated hereby by reference in its entirety.
Section 2.
Controlling Provisions
In the event of any conflict between the specific provisions of this Agreement and the terms
and conditions of the RFP and/or the Proposal, the requirements and/or provisions ofthe RFP and
Proposal shall control, except as provided in Section 4 herein, where this Agreement shall control.
Section 3.
Representations. Warranties. and Covenants
(a) The Bank has not employed or retained any person employed by the City to solicit
or secure this Agreement and it has not offered to pay, paid, or agreed to pay any person employed
by the City and fee, commission, percentage, brokerage fee, or gift of any kind contingent upon or
resulting from the award ofthis Agreement.
(b) The Bank is aware of the conflict of interest laws ofthe ordinances and regulations
ofthe City of Miami Beach, Miami-Dade County, and the State of Florida, and covenants that the
Bank will fully comply in all material respects with the terms of said laws.
(c) At the request of the Bank, the City agrees to cause its designated officials or their
designees to execute such signature cards and other signature and identification verification
documents as the Bank deems reasonably necessary for purposes of establishing appropriate security
measures in connection with the banking services to be provided hereunder.
Section 4.
Indemnification
The Bank shall indemnify and hold harmless the City, its agents and employees from or on
account of any losses, costs and damages, including attorneys' fees and the costs of defense resulting
from any breach committed during or on account of any operations connected with this Agreement,
or by any act of negligence in connection with the same, or by or on account of any negligent act or
omission of the Bank or its subcontractors, agents, servants or employees. The Bank further agrees
to indemnify and hold harmless the City, its agents and employees against any claims or liability
arising from or based upon the violation of any federal, state, county or city laws, bylaws, ordinances
or regulations by the Bank, its agent, servant, or employees.
To the extent possible under Florida law, the City shall indemnify and hold harmless the
Bank, its directors, officers, employees and agents from or on account of any losses, costs and
damages, including reasonable attorneys' fees and the costs of defense, resulting from any actions
or omissions of the Bank taken or omitted to be taken at the request of the City, its employees or
agents, or otherwise arising out of any negligent act or omission or failure to exercise reasonable care
by the City, its employees or agents. Subject to the aforesaid limitation, the City further agrees to
indemnify and hold harmless the Bank, its agents or employees against any claims or liability arising
from or based upon the violation of any federal, state, county, or city laws, by-laws, ordinances, or
regulations by the City, it agents, servants or employees.
Section 5.
Limitation of Liability
Notwithstanding any other terms or provision of this Agreement, including the preceding
Section 4, neither the City nor the Bank shall in any event be liable to the other for any amount in
excess of actual losses plus costs and attorneys' fees sustained by the injured party, and in no event
shall either the City or the Bank ever be liable hereunder or in any action in tort arising out of the
services or relationship to be provided or established hereunder for any indirect, special incidental,
punitive or consequential loss or damage of any kind, including lost profits or opportunities or
damage to reputation, arising therefrom whether or not advised of the possibility hereof.
Section 6.
Term and Termination
(a) This Agreement shall have a term of three (3) years, with an option to renew at the
City's sole discretion, for an additional one (1) year thereafter. The term shall begin to run from-the
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first aMtJ R1Hlf3 !tl(, d"'posited ill th" subject aeeeilllt ("Initiation Date"). In the event the City desires
to renew this Agreement, as provided in the preceding sentence, it shall notify Bank in writing of
its intent to do so.
(b) Absent a significant default or material change in circumstances that impairs the
parties' ability to perform hereunder, this Agreement cannot be canceled by either party for one (1)
year from the Initiation Date. Thereafter, either party may cancel this Agreement for any reason
upon ninety (90) days advance written notice to the non-canceling party.
(c) Bank shall have the right to terminate specific services covered by the exhibits or
riders hereto, as stated in each such exhibit or rider.
(d) If either party does not comply with the terms of this Agreement, the non-defaulting
party must give a written Notice of Default to the defaulting party setting forth the specific event(s)
of default and, furthermore, the action necessary to cure such default(s). If the default)s) is/are not
cured or corrected within thirty (30) days of the Notice of Default, this Agreement may be
terminated by the non-defaulting party.
(e) The City, from time to time, during normal Bank business hours and with at least two
(2) business days prior notice to Bank, shall have the right to request from Bank copies of books and
records, at the City's expense, relating solely to City's accounts or services provided to City
hereunder to ensure that all aspects of this Agreement are being met. Bank reserves the right to
reasonably restrict access to those books and records disclosure of which will violate banking law
or regulations or invade the privacy of any bank customer or account.
Section 7.
Chanl:es
(a) The City may, from time to time, request reasonable changes in the Services to be
performed by Bank hereunder. Such changes, as mutually agreed upon between City and Bank, shall
be incorporated in written amendment to this Agreement and signed by both parties prior to their
effectiveness.
(b) The parties reserve the right to change, alter, amend, delete or otherwise modify the
terms of this Agreement or the Services provided hereunder in the event of a change in applicable
laws, regulations, as a result of any court or regulatory agency order or as otherwise may reasonably
be required to ensure continued compliance with all applicable banking laws and regulations.
(c) The fees and charges set forth herein for the Services to be provided to City will begin
on the Initiation Date and shall not be increased for a period of _ years thereafter. Should this
Agreement extend beyond the _ year period, prices for said Services shall be renegotiated at that
time and shall require the consent of both parties hereto. Such consent shall not be unreasonably
withheld.
Section 8.
Equal Employment Opportunity: Non-discrimination
The Bank will not discriminate against any employee or an applicant for employment
because of race, color, religion, sex, national origin, sexual orientation, or disability. The Bank shall
take affirmative action to ensure that applicants are employed and that employees are treated fairly
during employment without regard to race, color, religion, sex, national origin, sexual orientation,
or disability, in accordance with federal, state, and City law.
Section 9.
Waiver
No waiver of a breach of any provisions of this Agreement shall constitute a waiver of any
subsequent breach of the same or any other provision hereof, and no waiver shall be effective unless
made in writing.
Section 10. Severability
Should any provisions, paragraphs, sentences, words or phrases contained in this Agreement
be determined by a court of competent jurisdiction to be invalid, illegal or otherwise unenforceable
under laws of the State of Florida or the City, such provisions, paragraphs, sentences, words or
phrases shall be deemed modified to the extent they cannot be so modified, then same shall be
deemed severable, and in either event, the remaining terms and provisions in this Agreement shall
remain unmodified and in full force and effect.
Section 11. Governinl: Law
This Agreement shall be construed and enforced according to the Laws of the State of
Florida.
Section 12. Exhibits
The following documents are attached hereto and incorporated by reference herein:
A. RFP
B. Proposal
Additional exhibits, including service agreements, may be added from time to time as
mutually agreed upon in writing by the parties, and any service agreement may be terminated
separately and severally without affecting the continued enforceability of all other provisions of this
Agreement as to non-terminated Services.
Section 13. Notices
All written notices, demands and other communications required or provided for hereunder
or under any of the Exhibits hereto shall be sent by certified mail, return receipt required, postage
.,
prepaid, in the case of mailing, or by overnight or same day courier, or by electronic transmission
producing a written record, or hand delivered to the following address and person bearing the
following title for each party hereto or such other addressee or person as shall be designated by a
party in a written notice given in the matter required hereby:
City:
City of Miami Beach
Miami Beach, Florida
1700 Convention Center Drive
Miami Beach, Florida 33139
Attn: Director of Finance
Banle
SunTrust Bank
Institutional Banking
777 Brickell Avenue, 4th Floor
Miami, Florida 33131
Attn: Senior Vice President
All notices sent pursuant hereto shall be deemed received by the applicable party within the time sent
including, but limited to, the following:
(a) Facsimile transmission are deemed received as of the acknowledgment date
on the printed confirmation or within one business day;
(b) Notices sent by courier shall be deemed received when delivered by said
courier to the indicated address;
(c) Overnight delivery is deemed received on the next business day;
(d) Certified U.S. mail shall be controlled by the signature upon the receipt
therefor,
Section 14. Federal Reserve
In recognition of the fact that some of the services to be provided by the Bank hereunder
require the related performance of services by the Federal Reserve System, the City agrees that the
Bank shall not be liable for loss or damage of any kind resulting from any delay in the performance
of or failure to perform the Bank's responsibilities hereunder due to delays or failures by the Federal
Reserve System so long as the Bank exercises its best efforts to correct the problem.
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Section 15. Assignment
Neither party shall assign this Agreement or any interest herein, or delegate any of its duties
hereunder, without the other party's prior written consent, except that it is agreed by the City that
the Bank may delegate certain services to be provided through independent contractors, as described
in any subsequent Exhibits hereto.
Section 16. Miscellaneous
It is understood that charges by the Bank will be incurred only when applicable Services
commence. Should SunTrust Bank be acquired by another financial institution, the City reserves
the right to cancel the existing Agreement upon thirty (30) days advance written notice to Bank.
IN WITNESS WHEREOF, the parties have executed this Agreement and initialed each of
the Exhibits thereto as of the day and year as cited below.
CITY OF MIAMI BEACH, FLORIDA
(Name)
Date
Authorized signature on behalf of the City of Miami
Beach, Florida
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Attest:
SUNTRUST BANK
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Witness
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APPROVED AS TO
FORM & LANGUAGE
& FOR EXECUTION
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