REQUEST FOR PROPOSALS INVESTMENT MANAGER SERVICES Proposals

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  • 1. IMPORTANT NOTICE OF CHANGES: 1. ADDENDUM HAS BEEN UPDATED as of 1/28/2010 please review page 11 2. Exhibit F has been withdrawn and no longer is a required response for thebid, rather you submission of a proposal is your acknowledgement of ourMWBE policy. 3. Label on Exhibit H should be Exhibit G 4. ORAL PRESENTATIONS RESCHEDULED TO MARCH 3, 2010 5. PROVIDE MOST RECENT PLUS PRIOR 4 YEARS AUDITED FINANCIALSTATEMENTS 6. KINDLY EMAIL NBParrish@leoncountyfl.gov TO LET ME KNOW YOU PLAN TOBID.REQUEST FOR PROPOSALSINVESTMENT MANAGER SERVICESProposals Due February 5, 2010 2:00 PM (EST) Clerk of the Circuit Court Leon County Courthouse Suite100 301 South Monroe StreetTallahassee, Florida 32301Telephone: (850) 577-4020 Fax (850) 577-4255

2. General InformationI.INTRODUCTIONThe Leon County Clerk of Court is seeking registered Investment Advisors (as defined and regulated by the U. S. Securities and Exchange Commission, "SEC") interested in serving as an Investment Manager for Leon County Board of County Commissioners ("Board") "Long Term Core Investments". Leon County's Investment Policy is included at the end of this Request for Proposal.Permitted Investments are limited to high quality, short duration securities, with an overall portfolio (Long Term and Short Term) being limited to a weighted average duration of less than three (3) years. Strict compliance with policy guidelines is required and compliance is monitored monthly by Leon County Clerk of Court Finance Department. The current amount of "Long Term Core Investments" to be managed pursuant to this Request for Proposal (RFP) is $65 million. However, the County makes no explicit or implicit guarantee or warranty as to the amount of monies to be invested pursuant to this RFP.It is the intent of the Clerk to award a contract for an initial three (3) year period with the option to renew it for two (2) additional two (2) year periods for a possible total of seven (7) years. The decision to renew the contract will be at the sole discretion of the Clerk. II. GENERAL INSTRUCTIONSA.Sealed Proposal: Each proposer shall submit one proposal with 5 copies in a sealed envelope. The sealed envelopes will be clearly marked as: Proposal To Be Opened: 2:00 p.m. February 5, 2010, Investment management Services and: MAILED TO: DELIVERED TO: Mr. Robert B. InzerMr. Robert B. InzerClerk of the Circuit Court Clerk of the Circuit CourtLeon CountyLeon County Courthouse Suite100Post Office Box 726301 South Monroe StreetTallahassee, Florida 32301Tallahassee, Florida 32301 B.Questions and Additional Information: Request for clarification or additional information should be made to: Norma Parrish, Treasury Manager. Email address: NBParrish@LeonCountyFl.gov and mailing address:Treasury Manager Leon County Clerk of the Courts Post Office Box 726 Tallahassee, Florida 32301 (850) 577-4020 Page 1 of 30 3. C. Schedule: The following schedule will be adhered to on or about these dates:Activity Date Advertisement and Posting RFP to WebsiteMonday, January 4, 2010 Last day for submission of questions or clarifications Tuesday January 19, 2010Sealed Proposals Due must be in the possession of the Clerk of the Circuit Court by 2:00 PM. this date. NoFriday , February 5, 2010 exceptions! Selection Committee Review of Proposals TBA Oral Presentations by Short Listed FirmsFriday, February 26, 2010 Negotiation of Contract Monday, May 3, 2010 Contract Execution and Initiation of Services Monday, June 1, 2010D. Prior to final selection of a proposer, the Clerk will schedule with one or more ofthe proposers formal interviews.E. In accordance with the Americans with Disabilities Act and Section 286.26, F.S.,persons with disabilities needing special accommodations to participate shouldcontact the Clerk of Court Finance Office no later than 48 hours prior to anymeeting at (850) 577-4020 for assistance.F. The contents of the proposal of the successful firm will become part of thecontractual obligations.G. The Clerk reserves the right to reject any or all proposals, to waive anyirregularities or informalities in any proposal or in the proposal procedures, and toaccept or reject any item or combination of items.H. The award will be to the firm whose proposal complies with all the requirementsset forth in the RFP, and whose proposal, in the opinion of the Clerk, is the bestcombination of price and level of service. These objectives are similar to all othergoods and services placed on a competitive approach by Leon County. TheClerk of the Circuit Court is issuing the RFP in his capacity as Chief FinancialOfficer of the County.I. This RFP does not include portfolio accounts associated with the Leon CountyTax Collector, Property Appraiser, and the Sheriff. Although this RFP does notinclude the portfolio accounts associated with these offices, other county officersmay choose to utilize the winning firms services. In all instances, the terms andconditions of this RFP must be available to any other County office so desiring tobe included.J. The request for proposal does not commit the County to pay any costs incurredby any proposer in the submission of a proposal.K. Should concerns or discrepancies arise during the proposal process, vendors areencouraged to contact Norma Parrish, Treasury Manager, prior to Friday,January 30, 2010. Such matters will be addressed and/or remedied prior to aproposal opening or award whenever practically possible.L. Award Challenge: Any proposal award recommendation may be challenged onthe grounds of irregularities in the evaluation of the proposal. Such notice ofintent of proposal challenge shall be made in writing to the Finance Director Page 2 of 30 4. within 72 hours after receipt of the intended recommendation of award andchallenger shall file a formal written proposal challenge within 10 days after thedate in which the notice of intent of proposal challenge has been submitted.Failure to file a notice of intent of proposal challenge or failure to file a formalwritten proposal challenge shall constitute a waiver of all rights granted under thissection.M. Ethical Business Practices:1. Gratuities. It shall be unethical for any person to offer, give, or agree togive any County employee, or for any County employee to solicit,demand, accept, or agree to accept from another person, a gratuity or anoffer of employment in connection with any decision, approval,disapproval, recommendation, or preparation of any part of a programrequirement or a purchase request, influencing the content of anyspecification or procurement standard, rendering of advice, investigation,auditing, or performing in any other advisory capacity in any proceedingor application, request for ruling, determination, claim or controversy, orother particular matter, subcontract, or to any solicitation or proposaltherefore. 2. Kickbacks. It shall be unethical for any payment, gratuity, or offer ofemployment to be made by or on behalf of a subcontractor under acontract to the prime contractor or higher tier subcontractor or any personassociated therewith, as an inducement for the award of a subcontract ororder. 3. The Clerk reserves the right to deny award or immediately suspend anycontract resulting from this proposal pending final determination ofcharges of unethical business practices. At his sole discretion, the Clerkmay deny award or cancel the contract if it determines that unethicalbusiness practices were involved.N. The proposal indicates an estimate of the portfolio dollar volume. This number isan estimate of the average volume and the County in no way guarantees this asthe minimum or maximum volume.O. The obligations of Leon County under this RFP and any resulting award aresubject to the availability of funds lawfully appropriated for its purpose by theState of Florida and/or the Board of County Commissioners of Leon County,Florida.P. In the event that the proposer to whom the services are awarded does notexecute a contract within thirty (30) calendar days after the award of theproposal, the Clerk may terminate the relationship and contract with the nextmost qualified proposer or call for new proposals and may proceed to actaccordingly.Q. Failure to comply with any of the terms and conditions of the RFP and/or asubsequent contract will be cause for termination of said contract.R. The contract may be terminated with cause by the investment manager by givingwritten notice to the other party no later than ninety (90) calendar days before theproposed termination date. This provision may be exercised only after thecontract has been in effect for three (3) calendar months. The Investmentmanager shall be entitled to just and equable compensation for servicesdelivered prior to the termination date as set forth in the contract. Under nocircumstances will any damages be paid as a result of the termination of this Page 3 of 30 5. contract. By submitting the proposal, the proposer certifies that they have fullyread and understood the Request for Proposal and has sufficient knowledge ofthe scope, nature, quantity, and quality of the work to be performed, the detailedrequirements of the services to be provided and the conditions under which theservices are to be provided.S. Either party may terminate the contract without cause by giving 180 days writtennotice to the other party. The Clerk may terminate the contract with theinvestment manager immediately, with cause. Cause will include, but is notlimited to, concern with financial integrity, regulatory irregularities, fraud, or failureto perform service at satisfactory levels.T. Public Entitys Statement: A person or affiliate who has been placed on theconvicted vendor list following a conviction for a public entity crime may notsubmit a bid on a contract to provide any goods or services to a public entity,may not submit a bid on a contract with a public entity for the construction orrepair of a public building or public work, may not submit bids on

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