LTC 63-2003 CITY OF MIAMI BEACH
Office of the City Manager
Letter to Commission No.
To:
Mayor David Dermer and
Members of the City Commission
Date: March 7, 2003
From: Jorge M. Gonzalez~,
City Manager
Subject: Proposed Evaluation Committee for Underwriting Services
On February 3, 2003, the City issued a Request for Proposals No. 13-02-03 to provide underwriting
services. The selected firms for underwriting services along with the City's financing team will assist
the City in evaluating financing options, developing financing structures and underwriting new debt
issues to meet the City's capital requirements and financial goals. Pdmary objectives in selecting
the Underwriter(s) include:
· Combination of sales and underwriting capabilities that will allow the City to structure debt
transactions that are cost effective, and
· Banking capabilities to structure transactions that are beneficial and meet the financial goals of
the City
The Chief Financial Officer, after consultation with the Financial Advisor for the City, will select the
senior Managing firm and other members of the financing team for each issue, taking into
consideration the size of the issue, the distribution requirements and/or specific experience of firms.
The City does not represent or guarantee that any amount of financing will be completed. The City
retains the ability, in its sole and absolute discretion, to offer bonds or other financing instruments on
a competitive sale basis or through loan pools without using these firms.
Proposals were received on March 5, 2003. I am considering appointing the following individuals to
serve on the Committee:
Georgina P. Echert, Assistant Finance Director
Thornton Hoelle, SunTrust Executive Vice President, and property owner
Jim Sutter, Intemal Auditor
Frank Strafaci, Financial Planner, and resident.
Jeryl (Deede) Weithom, Chair-Budget Advisory Committee, and Independent CPA
If you would like to recommend individuals to serve as Evaluation Committee members, please
provide me with the individual's name and phone by March 14, 2003.
JMG\I~\PDW
Patricia D. Walker, Chief Financial Officer
Georgina P. Echert, Assistant Finance Director
Gus Lopez, Procurement Director
Jim Suffer, Internal Auditor
Georgina P. Echert, Assistant Finance Director
F:\crngr\$ALL~LTC-03~Proposed evaluation comm for underwriting sew.doc