• Published on

  • View

  • Download

Embed Size (px)


<ul><li> 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 Exhibit F has been withdrawn and no longer is a required response for thebid, rather you submission of a proposal is your acknowledgement of ourMWBE policy. 3.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 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 </li></ul><p> 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: 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 leases of realproperty Crime to a public entity, may not be awarded or perform work as acontractor, subcontractor, or consultant under a contract with any public entity,and may not transact business with any public entity in excess of the thresholdamount provided in Section 287.017, for CATEGORY TWO for a period of 36months from the date of being placed on the convicted vendor list.U. Certification Regarding Debarment, Suspension, and Other ResponsibilityMatters: The prospective primary participant must certify to the best of itsknowledge and belief, it and its principals are not presently debarred, suspended,proposed for debarment, declared ineligible, or voluntarily excluded from coveredtransactions by any Federal department or agency and meet all other suchresponsibility matters as contained on the attached certification form.V. Unauthorized Alien(s): The Contractor agrees that unauthorized aliens shall notbe employed nor utilized in the performance of the requirements of thissolicitation. The County shall consider the employment or utilization ofunauthorized aliens a violation of Section 274A (e) of the Immigration andNationality Act (8 U.S.C. 1324a). Such violation shall be cause for unilateraltermination of this Agreement by the County. As part of the response to thissolicitation, please complete and submit the attached form AFFIDAVITCERTIFICATION IMMIGRATION LAWS.W. The contractor shall maintain the appropriate insurance(s) required to performthe respective operation(s) and activities proposed as required by State Statutesand regulations, and meets County requirements. A certificate of insuranceevidencing such coverage must be submitted annually at the beginning of eachfiscal year. Each contractor shall have a minimum of $10,000,000 in professionalliability coverage.X. All proposals will become the property of Leon County when received and assuch, will be subject to Florida's Open Records law. At the time fixed for theopening of proposals, the contents of the Proposal Form will be made public forthe information of vendors and other interested parties, who may be presenteither in person or by representatives. Proposals will be on file and available forpublic inspection in the office of the Clerk of the Court after the opening of theproposals.Page 4 of 30 6. III.MINIMUM QUALIFICATIONS To be considered by the County, proposing investment advisors must:A. Have a minimum of five years of experience in managing fixed income assets forstate and local governments.B. Currently manage at least $1 billion of domestic fixed income assets for publicorganizations. The firms own funds will not be counted as public funds.C. Assign an account manager to the County who has a minimum of five yearsexperience in public funds investment management.D. Be familiar with all applicable Florida statutes with regard to qualified investmentsfor public entities.E. Be registered with the Securities and Exchange Commission under theInvestment Advisors Act of 1940.F. Earned unqualified audit opinions on the financial statements rendered byexternal auditors for the past five years.G. Have Errors &amp; Omissions and Fiduciary Liability Insurance coverage of at least$10 million.H. Adhere to the Code of Professional and Ethical Standards as described by theChartered Financial Analyst (CFA) Institute.I. Must meet bid eligibility requirements regarding Public Entity Crimes.J. Certify vendor eligibility through submission of a notarized sworn statementregarding Debarment, Suspension, and Other Responsibility Matters (Exhibit D).K. Agree to promote the principles and practices of equal opportunity in employmentand agree to comply with regulations prohibiting discrimination and regulationsoutlining affirmative action obligations (Exhibit E).L. Submitting a proposal is acknowledgement of the County W/MBE policy (seesection heading County Minority Business Enterprise and Exhibit F).IV. SCOPE OF SERVICESSpecific responsibilities of the selected investment manager will include, but not be limited to the following:A. Manage on a daily basis the Countys long term investment portfolio pursuant to thespecific, stated investment objectives. Place all orders for the purchase and sale ofsecurities, communicate settlement information to the County staff and assist incoordinating security settlement.B. The Investment Advisor will be required to provide monthly statements detailing the"Long Term Core Investment" activity, earnings, the value of the investment portfolio,a portfolio return, mark to market valuation, weighted average maturity, accruedPage 5 of 30 7. interest by investment type, rating of investment by Standard's &amp; Poor's and Moody's. C. These reports must be prepared in compliance with Governmental Accounting Standards Board (GASB) Statement No. 31 Accounting and Financial Reporting for Certain Investments and for External Investment Pools and No. 40 Deposit and Investment Risk Disclosures. The selected investment manager must maintain accurate reports of inv...</p>


View more >