Broward County Commission Regular Meeting

MOTION TO APPROVE Library of Bond Underwriters, Request for Proposals (RFP) No. GEN2116442P1, that will include the following firms: Citigroup Global Markets Inc.; Estrada Hinojosa & Company, Inc.; Goldman Sachs & Co. LLC; Jefferies LLC; J.P. Morgan Securities LLC; Merrill Lynch, Pierce, Fenner & Smith Incorporated d/b/a Bank of America Merrill Lynch; Morgan Stanley & Co. LLC; Raymond James & Associates d/b/a Raymond James; RBC Capital Markets, LLC; and Siebert Cisneros Shank & Co. L.L.C.  The library will be in effect upon the date of approval by the Board for a five-year period.

(County Administrator Bertha Henry noted a Scrivener's Error in the Ranking Sheet under "Loops Capital Market."  The Ranking Sheet should reflect one vote for Norman Foster, and one vote for Ronald Thomas, for a total of two votes.)

ACTION:  (T-4:28 PM)  Approved with the Yellow-Sheeted Additional Material, dated September 25, 2018, submitted at the request of Finance and Administrative Services Department.  Additional information will be brought back to the Board by County Administration.  (Refer to minutes for full discussion.)

VOTE: 9-0.

The Board must approve the final selection of firms for the Library of Bond Underwriters pursuant to Section 21.42.d of the Broward County Procurement Code.

Provides Board approval of the Evaluation Committee recommendation of firms for the Library of Bond Underwriters.

None.

THE PURCHASING DIVISION AND THE FINANCE AND ADMINISTRATIVE SERVICES DEPARTMENT RECOMMEND APPROVAL OF THE ABOVE MOTION.

This procurement was solicited to establish a Library of five to ten Bond Underwriters to assist the County in the marketing and sale of bonds to meet financing requirements for the Airport, Port, Water and Sewer, General Obligation, Certificates of Participation, Special Obligation, and all other debt for a five-year period. In addition, the firms selected for the Library may be asked to provide advice and recommendations to the County on other related issues and to assist the County in investor relations activities.

On May 8, 2018 (Item No. 47), the Board approved Request for Qualifications (RFQ) No. GEN2116442P1, Library of Bond Underwriters. Twenty-two firms submitted proposals in response to the RFQ.

On August 8, 2018, a Short List meeting was held. The Evaluation Committee determined that all 22 firms were both responsive and responsible to the requirements of the RFQ, and voted in favor to shortlist ten firms.

The Evaluation Committee's proposed recommendation of ranking was posted on the Purchasing Division website from August 9, 2018 through August 13, 2018, which provided an opportunity for any proposer or interested party to present any new or additional information regarding the responsibility of the proposers. No additional information was received during that time-frame.

The Evaluation Committee's final recommendation of Short Listing was posted on the Purchasing Division website from August 14, 2018 to August 20, 2018, which provided an opportunity for any aggrieved proposer to file a formal protest. No protest was filed within this timeframe.

The Short Listing for RFQ No. GEN2116442P1, Library of Bond Underwriters, was approved by the County Administrator on September 4, 2018 (Exhibit 2).

The Evaluation Committee consisted of:
Martha Perez-Garviso, Purchasing Manager, Purchasing Division, Finance and Administrative Services Department (Chair and Non-Voting Member)
Monica Cepero, Deputy County Administrator
Norman Foster, Director, Office of Management and Budget
George Tablack, Chief Financial Officer
Douglas Wolfe, Assistant Director, Aviation Department

Ronald Thomas, Enterprise Director of Finance, Water and Wastewater Services, Public Works Department

Brenda J. Billingsley, Director, Purchasing Division, (954) 357-6070