rfp-604354-22_pk_(update).pdf

RFP-604354-22/TLR – Investment Advisory Services

SUBMIT PROPOSALS TO:

Upload to Website https://procurement.opengov.com/portal/seminolefl

REQUEST FOR PROPOSAL

And Proposer Acknowledgment

Contact: Tammy Roberts Procurement Administrator Phone: 407-665-7112 Email: troberts@seminolecountyfl.gov

RFP-604354-22/TLR

INVESTMENT ADVISORY

SERVICES

PROPOSAL DUE DATE – September 21, 2022 Time: 2:00 PM (Eastern Standard Time)

Location of Public Opening:

Zoom at www.zoom.us , Meeting ID: 865 8422 2565, Pass Code: 520343

Proposer Name:

Federal Employer ID Number:

Mailing Address:

If returning as a "No Submittal", state reason (if so, return only this page):

City, State, Zip:

Type of Entity (Circle one): Corporation

Partnership Proprietorship Joint Venture

Incorporated in the State of: ______________

List of Principals: _______________________

The undersigned Proposer hereby acknowledges receipt of Addenda

Numbers______ through______:

Authorized Signature (Manual) Date

Email Address: Typed Name:

Telephone Number: Title:

Fax Number: Date:

THIS FORM MUST BE COMPLETED AND RETURNED WITH WRITTEN PROPOSAL

The Proposer is expected to completely analyze the information contained in this Request for Proposals (RFP) as guidance for the preparation of their written proposal. The Proposer’s written proposal should be specific, detailed, and complete in order to clearly and fully demonstrate the Proposer’s understanding of the proposed work requirements, and it should include a logical plan to accomplish the task(s) under the proposed scope of work.

https://procurement.opengov.com/portal/seminolefl mailto:troberts@seminolecountyfl.gov http://www.zoom.us/

Part - 1 General Description and Scope of Services

PURPOSE

The Seminole County Board of County Commissioners (SCBCC) is seeking proposals from firms with the experience and capabilities to provide investment advisory policy recommendations to the SCBCC for a portfolio that can range between approximately $650 million to $740 million.

Services include analysis of the County’s cash management performance, monitoring of investment compliance with policy guidelines and meeting overall investment objectives of liquidity of funds and investment income, as outlined in the County’s Investment Policy. The firm selected will also review reporting, make recommendations to the County’s investment portfolio and provide a review of the County’s cash flow on request by the SCBCC.

Seminole County’s investment portfolio maintained an average of approximately of over $600 million during Fiscal Year 2021. The SCBCC is seeking a qualified firm to provide at least one key personnel assigned to the Seminole County account who is designated as a Chartered Financial Analyst (CFA) with a minimum of 20 years’ experience rendering portfolio monitoring services and investment management services.

SCOPE OF SERVICES

1. Evaluate the County’s investment policy for compliance with Florida Statutes and compare said policy to recommended practices by the Government Finance Officers Association

(GFOA).

2. Consult closely and provide ongoing guidance to the SCBCC in the evaluation of ongoing investment activity within agreed upon investment strategies for the various County funds, with the objective of maximizing return on investments without sacrificing safety of the invested monies, while satisfying all required disbursement needs.

3. Not trade securities for the SCBCC, unless specifically directed to do so by the SCBCC, but shall provide rate quotations to the SCBCC.

4. Evaluate investment products and their capability for inclusion in the County’s investment portfolio and continuously confer with the SCBCC regarding recommended investment products.

5. Recommend various investment options based on the selected Proposer’s internal models to evaluate the outcome of investments. Continuously confer with the SCBCC regarding these recommended investment products after evaluation of such products and their applicability for inclusion in the County’s investment portfolio.

6. Evaluate investment strategies in comparison to the County’s established benchmarks and confer with the SCBCC as needed regarding such comparisons.

7. Evaluate risk factors over portfolio and portfolio composition on an ongoing basis.

8. Evaluate the County’s internal controls over cash management in general, and specifically over the portfolio, and provide the SCBCC with recommendations.

9. Selected Proposer shall provide cash management consulting services relative to the cash management of County funds as required and approved by the SCBCC and following guidelines set by the State of Florida. Only consulting services shall be provided, as the selected Proposer shall not directly invest County monies unless specifically directed by the SCBCC.

10. On a quarterly basis, determine whether the County’s investment activity complies with the County Investment Policy Guidelines as established in Section 3.35 of the Seminole County Administrative Code.

11. Confer with the SCBCC on an as-needed basis to discuss economic conditions, anticipated financial market conditions, investment strategy and specific investments to be purchased and sold in ongoing County cash management programs. The SCBCC, at its discretion, shall have the option to act or not act upon specific recommendations made by the selected Proposer.

12. Review monthly investment reports and current market conditions with the SCBCC and SCCCC on a monthly basis.

13. Meet monthly and have weekly telephone contact with the Clerk; and, provide the SCBCC and SCCCC with quarterly reports on performance and compliance with the policy. Meet quarterly or as needed with the SCBCC and SCCCC to review the investment portfolio and to make recommendations to the SCBCC regarding investment policy, strategy, and procedures. Meetings will occur in Seminole County at County offices.

14. Provide any other reports as requested by the SCBCC. Perform all other services fundamental to cash management consulting.

MINIMUM QUALIFICATION REQUIREMENT

All firms responding to this RFP, to be eligible for consideration, must meet the minimum requirements and demonstrate their capabilities and experience as stated in Part 3 - Instructions for the preparation of Submittals - of the Request for Proposal documents.

Part 2

INSTRUCTIONS TO PROPOSERS

Section 1 - Contact: All prospective Proposers are hereby instructed not to contact any member of the Seminole County Board of County Commissioners, the County Manager or Deputy Manager, or any Seminole County Staff members other than the noted Purchasing & Contracts Division (herein referred to as ‘PCD’) Contact Person regarding this RFP or their written proposal at any time prior to the posting on the COUNTY’s Website of the recommendation and intent to award by County staff for this project. Any such contact shall be cause for rejection of your proposal. Interpretation of this clause will be solely at the discretion of the County.

Section 2 - Public Closing: Electronic submittals shall be received at PCD in accordance with the instructions in this solicitation documents, unless otherwise revised via posted Addenda.

Persons with disabilities needing assistance to participate in the Public Closing should call the noted PCD Contact Person at least forty-eight (48) hours in advance of the Public Closing at (407) 665-7116. The Public Closing via ZOOM https://zoom.us/ Meeting ID 865 8422 2565 Passcode 520343.

Section 3 - Delays: The COUNTY, at its sole discretion, may delay the scheduled due date and time for submission if it is to the advantage of the COUNTY to do so. The COUNTY will post all changes in the scheduled due date and time for submission by written addendum posted to the COUNTY’s Website: (https://procurement.opengov.com/portal/seminolefl)

Section 4 – Proposal Submission and Withdrawal: The COUNTY will receive submittals in electronic form (PDF). Proposals received after the scheduled due date and time for submission shall not be considered. The scheduled due date and time for submission will be scrupulously observed. The COUNTY will not be responsible for late uploads of submissions or computer errors or failures regarding accepting any submittal. The COUNTY cautions all Proposers to not wait until the last minute to upload their submittal. Telephone confirmation of timely receipt of any submittal should be made by calling (407) 665-7112, before the 2:00 deadline.

The Proposer is required to submit ONE (1) ELECTRONIC FORMATTED file (PDF) of their completed proposal on this solicitation.

If additional information is received, PCD will serve notice to the Proposer that the additional information will not be considered under this RFP solicitation. Proposers may withdraw their proposals by notifying the COUNTY in writing at any time prior to the scheduled due date and time for submission. Proposers may withdraw their proposals in person or through an authorized representative. Proposers and authorized representatives must disclose their identity, display proper identification, and provide a signed receipt for the proposal. Proposals, once opened, become the property of the COUNTY, and will not be returned to the Proposer. At its sole discretion, the COUNTY may request additional information should the COUNTY deem it necessary.

Section 5 - Inquiries: All Proposers should carefully examine the RFP documents. Any ambiguities or inconsistencies shall be brought to the attention of PCD Contact Person in writing prior to the scheduled due date and time for submission. Failure to do so, on the part of the Proposer, shall constitute an acceptance by the Proposer of any subsequent decision made by the COUNTY. Any questions concerning the intent, meaning and interpretations of the RFP documents including the attached Draft Agreement, shall be requested in writing, and received https://zoom.us/ https://procurement.opengov.com/portal/seminolefl by PCD Contact Person no later than ten (10) days prior to the due date. Written requests can be submitted via e-mail: troberts@seminolecountyfl.gov. The COUNTY will not be responsible for oral instructions made by employees of the COUNTY or its authorized representatives regarding this RFP.

Section 6 - Addenda: Should revisions to the RFP documents become necessary, the COUNTY will post Addenda information on the COUNTY's Website. All Proposers should check the COUNTY's Website or notify PCD Contact Person to verify information regarding Addenda.

Failure to do so may result in rejection of the Proposer’s submitted proposal and a determination as “Non-Responsive”. By execution of the Formal Notice for this RFP, the Proposer acknowledges receipt of all Addenda issued under this solicitation. Addenda information will be posted on the COUNTY’s Website (https://procurement.opengov.com/portal/seminolefl). It is the sole responsibility of the Proposer to ensure that they obtain information related to any Addenda.

Section 7 - Selection Process and Award: All proposals will be reviewed by personnel as designated by the COUNTY staff in accordance with the qualification/evaluation criteria set forth in the RFP documents. The COUNTY reserves the right to conduct interviews and/or require presentations of any or all Proposers prior to selection. The COUNTY will not be liable for any costs incurred by the Proposer in connection with such presentations. Should oral presentations for this RFP be required by the COUNTY, the qualification/evaluation criteria and weights shall be used to short-list an adequate number of firms. The County will award a contract based on the proposal that bests meets the County's requirements, that would provide the best service to the public, and would provide a high return to the County. The Proposer understands that this RFP does not constitute an agreement or a contract with the Proposer. The COUNTY reserves the right to reject all bids/proposals, make multiple awards (award to more than one vendor), make a partial award, to waive formalities, to re-solicit and advertise for new bids/proposals, or to cancel the project in its entirety.

Section 8 - Proposal Preparation Costs: Neither the COUNTY nor its representatives shall be liable for any expenses incurred in connection with preparation of a response to this RFP.

Proposers should prepare their proposals simply and economically, providing a straightforward and concise description of the Proposer's ability to meet the requirements of this RFP.

Section 9 - Accuracy of Proposal Information: By submission of a proposal, Proposer acknowledges that they have carefully examined the Request for Proposal documents and agrees to furnish the services specified in the solicitation at the prices, rates or discounts as proposed.

Proposers agree that their proposal will remain firm for a period of up to one hundred twenty (120) days to allow the County adequate time to evaluate the submittals.

By submission of a proposal, Proposer agrees to abide by all conditions of this proposal and understands that a background investigation may be conducted by the Seminole County Sheriff’s Department prior to award. Proposer certifies that all information contained in their proposal is truthful to the best of their knowledge and belief. Proposer further certifies that they are duly authorized to submit this proposal on behalf of the vendor/Proposer as its act and deed and that the vendor/Proposer is ready, willing, and able to perform if selected.

Section 10 - Insurance: A misstatement or omission of a material fact, whether intentional or not, regarding the Proposer's insurance coverage, policies or capabilities may be grounds for rejection of the Proposer’s submitted proposal and rescission of any ensuing Award Agreement.

mailto:troberts@seminolecountyfl.gov

The COUNTY recommends that all Proposers review the insurance requirements listed within the Draft Agreement with their insurance carriers. A copy of the insurance certificate shall be furnished to the COUNTY prior to the final execution of the COUNTY’s Award Agreement. The COUNTY reserves the right to reject the award to any Proposer that fails to provide the insurance as required within the COUNTY’s Award Agreement.

Section 11 - Licenses: Proposers, both corporate and individual, must be fully licensed and certified for the type of work to be performed in the State of Florida at the time of submittal under this RFP. Failure of the Proposer to be fully licensed and certified, may result in rejection of the Proposer’s submitted proposal and a determination as “Non-Responsive”. Any permits, licenses, or fees required shall be the responsibility of the Proposer. No separate or additional payment will be made for these costs. Adherence to all applicable code regulations, Federal, State, County, City, etc., is the responsibility of the Proposer.

Section 12 - Posting of the RFP’s Recommendation and Intent to Award: The recommendation and intent to award for this RFP will be posted on the COUNTY’s Website (https://procurement.opengov.com/portal/seminolefl) prior to submission to the Seminole County Board of County Commissioners for final approval of award. Failure to file a protest with the COUNTY’s Purchasing & Contracts Manager within the time prescribed in the COUNTY's Purchasing Code, Policies and Procedures shall constitute a waiver of proceedings.

Section 13 - Public Records: Upon recommendation and intent to award this RFP as posted to the COUNTY’s website or thirty (30) calendar days after closing, proposals are considered “public records" and shall be subject to the public disclosure regulations consistent with Chapter 119, Florida Statutes. Proposers must invoke the exemptions to disclosure provided by law in their response to the solicitation and must identify the data or other materials to be protected by separate envelope/separate electronic file identified as protected, and must state the reasons why such exclusion from public disclosure is necessary pursuant to the COUNTY’s, “Compliance With Public Records Law” Form, which is required as part of the RFP documents. Ownership of all data, material, and documentation originated and prepared for the County pursuant to the RFP shall belong exclusively to the County and be subject to public inspection in accordance with the Public Records Law. Trade secrets or proprietary information submitted by a Proposer shall not be subject to public disclosure under the Public Records Law; however, the Proposer must invoke the protection of this section prior to or upon submission of the data or other materials, and must identify the data or other materials to be protected and state the reasons why protection is necessary.

Section 14 - Prohibition Against Contingent Fees: It shall be unethical for any person to be retained, or to retain any company or person, other than a bona fide employee working solely for the Proposer to solicit or secure the Award Agreement for this RFP, and that it has not paid or agreed to pay any person, company, corporation, individual or firm, other than a bona fide employee working solely for the Proposer, any fee, commission, percentage, gift, or other consideration contingent upon or resulting from award or making of this Award Agreement. For the breach or violation of this provision, the COUNTY shall have the right to terminate the Award Agreement at its sole discretion, without liability and to deduct from the Award Agreement price, or otherwise recover, the full amount of such fee, commission, percentage, gift, or consideration.

Section 15 - Acceptance/Rejection/Disqualification: The COUNTY reserves the right to accept and make award to those Proposers, who in the opinion of the COUNTY, will be in the best interest of and/or the most advantageous to the COUNTY. The COUNTY reserves the right to reject all bids/proposals, make multiple awards (award to more than one vendor), make a partial award, to re-solicit and advertise for new bids/proposals, or to cancel the project in its entirety. The COUNTY reserves the right to reject the proposal of any Proposer who has previously failed in the proper performance of an award or to deliver on time agreements of a similar nature or who, in the COUNTY's opinion, is not in a position to perform properly under this award. The COUNTY reserves the right to inspect all facilities of Proposers to make a determination as to the available resources to perform properly under this award. The COUNTY reserves the right to waive any irregularities, informalities, and technicalities and may, at its discretion, issue a re-procurement.

More than one (1) proposal from an individual, firm, partnership, corporation, or association under the same or different names will not be considered. Reasonable grounds for believing that a Proposer is involved in more than one proposal submittal will be cause for rejection of all proposals in which such Proposers are believed to be involved. Any or all proposals will be rejected if there is reason to believe that collusion exists between Proposers. Proposals in which the prices obviously are unbalanced will be subject to rejection.

Section 16 - Purchasing Code: Seminole County Code Chapter 220 (Purchasing Code), Administrative Code Section 3.55 (Purchasing Policy), and County Manager Policies apply to this RFP in their entirety.

Section 17 - Affirmation: By submission of a proposal, the Proposer affirms that their proposal is made without prior understanding, agreement or connection with any corporation, firm, or person submitting a proposal for the same materials, supplies, equipment or services, and is in all respects fair and without collusion or fraud. The Proposer agrees to abide by all conditions of this RFP and the resulting Award Agreement.

Section 18 - Governmental Restrictions: In the event that any governmental restrictions are imposed which would necessitate alteration of the material quality, workmanship or performance of the items offered on this proposal prior to their delivery, it shall be the responsibility of the Proposer to notify the Purchasing and Contracts Division at once, indicating in his/her letter the specific regulation which required an alteration, including any price adjustments occasioned thereby. The County reserves the right to accept such alteration or to cancel the contract or purchase order at no further expense to the County.

Section 19 – Advertising: In submitting a proposal, Proposer agrees not to use the results therefrom as a part of any commercial advertising, without the express written approval of the County Manager’s Office.

Section 20 – Patents and Royalties: Unless otherwise provided, the Proposer shall be solely responsible for obtaining the right to use any patented or copyrighted materials in the performance of the contract resulting from this RFP. The Proposer, without exception, shall indemnify and save harmless the County and its employees from liability of any nature or kind, including cost and expenses for or on account of any copyrighted, patented, or unpatented invention, process, or article manufactured or supplied by the Proposer. In the event of any claim against the County of copyright or patent infringement, the County shall promptly provide written notification to the Proposer. If such a claim is made, the Proposer shall use its best efforts to promptly purchase for the County any infringing products or services or procure a license, at no cost to the County, which will allow continued use of the service or product. If none of the alternatives are reasonably available, the County agrees to return the article on request to the Proposer and receive reimbursement, if any, as may be determined by a court of competent jurisdiction.

Section 21 - Drug-Free Workplace Compliance: Proposer shall comply with Section 287.087, Florida Statutes, and failure to comply shall result in rejection/disqualification of the proposal and all agreements because of this solicitation.

Section 22 - Public Entity Crime: Any Person or affiliate, as defined in Section 287.133, Florida Statutes, shall not be allowed to contract with the COUNTY, nor be allowed to enter into a subcontract for Work on this Project, if such a person or affiliate has been convicted of a public entity crime within three (3) years from the date this Project was advertised for Proposal, or if such person or affiliate was listed on the State's convicted vendor list, within three (3) years of the date this Project was advertised, whichever time period is greater. A public entity crime means a violation of any state or federal law with respect to and directly related to the transaction of business with any public entity or agency (federal, state or local), including but not limited to, any contract for the construction or repair of a public building or public work involving antitrust, fraud, theft, bribery, collusion, racketeering, conspiracy, forgery, falsification of records, receiving stolen property or material misrepresentation. Any Agreement with the COUNTY obtained in violation of this Section shall be subject to termination for cause. A sub-contractor who obtains a subcontract in violation of this Section shall be removed from the Project and promptly replaced by a sub-contractor acceptable to the COUNTY.

Section 23 - Proprietary/Restrictive Specifications: Proposers who feel the specifications contained herein are proprietary or restrictive in nature, thus potentially resulting in reduced competition, must notify the Purchasing and Contracts Division of their rejection upon receipt of this Request for Proposals and prior to the due date.

Section 24 - Payment Terms/Discounts: The County’s payment terms are in accordance with Section 218, Part VII, Florida Statutes, Florida Prompt Payment Act. Cash discounts for prompt payment shall not be considered in determining the lowest net cost for evaluation purposes.

Section 25 – Additional Terms and Conditions: Unless expressly accepted by the County, only the terms and conditions in this document and Award Agreement shall apply. Any and all additional terms and conditions shall have no force and effect and are inapplicable to this proposal if submitted either purposely through intent or design, or inadvertently appearing separately in transmittal letters, specifications, literature, price lists or warranties. It is understood and agreed that the general and/or special conditions in these RFP documents and any Addenda issued under this solicitation are the only conditions applicable to this proposal and the Proposer's authorized signature on the Proposal Response Form attests to this.

Section 26 - Price Redeterminations:

1. During the Renewal Term: Petitions for price redeterminations must be made at the time of County’s notification to the Contractor of the renewal period. Any such petition must be made pursuant to the provisions of this Section and only for those price redetermination categories specified herein. Unless otherwise expressly set forth in this document, no other price redeterminations will be allowed. All price redeterminations will be approved by a duly executed amendment to the Contract to reflect the new prices for the renewal term.

2. Outside the Renewal Term: Petitions for price redeterminations must be made within thirty (30) days of the anniversary date of the Contract. Any such petition must be made pursuant to the provisions of this Section and only for those price redetermination categories specified herein. Unless otherwise expressly set forth in this document, no other price redeterminations will be allowed. All price redeterminations will be approved by a duly executed amendment to the Contract.

BASIS FOR PRICE REDETERMINATIONS. The Contractor may petition the Purchasing and Contracts Division for price redetermination based on the increased costs of wages, fuel, or materials. Price redeterminations will be based solely upon changes in pricing or costs documented by either the Employment Cost Index (ECI) or Producer Price Index (PPI), whichever is applicable, as published by the Bureau of Labor Statistics. The base index number for the ECI will be for the quarter in which the solicitation opens. The base index number for the PPI will be for the month the solicitation opens. Any subsequent price redeterminations will use the last price redetermination approved for that price redetermination category as the "base index number." The County shall have the right to audit the Contractor's records, including, but not limited to, payroll, materials, and fuel cost records, to verify or otherwise investigate the validity of any price redetermination request.

WAGE PRICE REDETERMINATION. When requesting a price redetermination based upon an increase in wage costs, the Contractor shall refer to and utilize the Pay & Benefits, Employment Cost Index, Private Industry, Compensation as prepared by the Bureau of Labor Statistics in the U.S. Department of Labor available at www.bls.gov.

MINIMUM WAGE PRICE REDETERMINATION. If the minimum wage increases during the term of the Contract, including any renewal or extension period thereunder, the Contractor may petition the Purchasing and Contracts Division for price redetermination for those job categories where the pay to the Contractor's employee(s) is the current minimum wage. Upon verification of the information provided, the County will grant an increase of exactly the amount of the minimum wage increase (not the percentage increase). The Contractor must increase the pay to the employee(s) by the amount the Contractor has requested, which shall not exceed the amount of the minimum wage increase. The amount paid to the Contractor will be the increase plus any written and documented increase in FICA, Medicare, and Workers' Compensation insurance. The Contractor must supply written documentation of any other increase that is beyond the scope and control of the Contractor. All written documentation must satisfy the reasonable expectations of the Purchasing and Contracts Division.

• Example: Minimum wage increases from $7.31 to $7.56 per hour. The Contractor may petition for an increase of $0.25 per hour to be paid to the affected employee(s) and shall provide written and documented cost increases for FICA, Medicare and Workers'

Compensation. The resulting increase in costs shall be incorporated into fees/rates billed to the County.

If the Contractor bills the County at a higher price according to any price redetermination granted by the County, and the Contractor fails to increase the hourly rate paid to the employee for the same period, the Contractor will be considered in Contract default and the Contract will be immediately terminated.

FUEL PRICE REDETERMINATION. If and when the price of fuel increases by a minimum of ten (10%) percent, the Contractor may petition the Purchasing and Contracts Division for a fuel price redetermination. As a condition of petitioning for a fuel price increase, the Contractor shall be required to petition for a fuel price redetermination decrease if and when the price of fuel decreases by a minimum often (10%) percent. Failure to make such petition may be grounds for Contract termination and shall entitle the County to a refund of the cumulative increase in pay to the Contractor due to any prior fuel price redetermination increase(s). Fuel price redetermination must be based solely upon changes as documented by the Producer Price Index (PPI) for the commodity "Gasoline - WPU057".

MATERIALS PRICE REDETERMINATION. At the anniversary date of the Agreement, the Contractor may petition the Purchasing and Contracts Division for a materials price redetermination. As a condition of petitioning for a materials price increase, the Contractor shall be required to petition for a materials price redetermination decrease if/when the price of materials used by the Contractor in connection with the Contract decreases. Failure to make such petition may be grounds for Contract termination and shall entitle the County to a refund of the cumulative increase in pay to the Contractor due to any prior materials price redetermination increase(s).

Materials price redetermination must be based solely upon changes as documented by the Producer Price Index (PPI) under Inflation & Prices, Industry Data, Construction Machinery Mfg.

PCU 333120333120, as published by the Bureau of Labor Statistics.

PRICE REDETERMINATION CALCULATION. All Price Redeterminations shall be calculated as follows:

Example: Contractor indicated on the Submittal Form that fourteen percent (14%) of the cost to provide the product/service is directly attributed to the redetermination category (wages, fuel, or materials).

PPI in the month the solicitation closed was 158.73 264.52 Current PPI is 264.52 -158.73 105.79

105.79 divided by 158.73 = .666% The unit cost of the service is $100.00 14% of $100.00 = $14.00 $14.00 x .666 = $9.32

The New Unit Price for the service is $109.32 ($100.00 + $9.32)

EXPIRATION UPON FAILURE TO AGREE TO PRICE REDETERMINATION. If the County and the Contractor cannot agree to a price redetermination pursuant to the terms and conditions of this Section, then the Contract will automatically expire without penalty or further expense to either party after a period of six (6) months following the Contractor's initial request for such price redetermination.

Requests for price redeterminations not made in accordance with the provisions of this Section shall be deemed null and void and shall not be a valid reason or pretext for expiration or termination of the Contract. If the contract expires pursuant to the terms and conditions of this Section, the County reserves the right, at no expense, penalty, or consequence to the County, to award any remaining tasks thereunder to the next available most responsive and responsible Contractor.

PURCHASING AGREEMENTS WITH OTHER GOVERNMENT AGENCIES: All Applicants submitting a response to this solicitation agree that such response also constitutes a submittal to all governmental agencies within the State of Florida, under the same conditions, for the same contract price, and for the same effective period as this proposal, should the Applicant feels it is in their best interest to do so. Each governmental agency desiring to accept these submittals, and make an award thereof, shall do so independently of any other governmental agency. Each agency shall be responsible for its own purchases and each shall be liable only for materials and/or services ordered and received by it, and no agency assumes any liability by virtue of this solicitation. This agreement in no way restricts or interferes with the right of any governmental agency to re-solicit any or all items.

Part - 3

Instructions for the preparation of Submittals

The Proposer(s) warrants its response to this Request for Proposals to be fully disclosed and correct. The firm must submit a proposal complying with this request for proposals, and the information, documents and material submitted in the proposal must be complete and accurate in all material aspects. The proposals shall include all the information solicited in this RFP and any additional data that the Proposer deems pertinent to the understanding and evaluation of the proposal. Proposals must be organized, and sections tabbed in the order noted below. The Proposer shall not withhold any information from the written response in anticipation of presenting the information orally or in a demonstration since oral presentations or demonstrations are at the option of the County. Marketing materials shall not be included as documentation of Proposer’s ability to provide services required. Compliance with all requirements will be solely the responsibility of the Proposer and failure to provide requested information may result in disqualification of response.

1. REQUIRED SUBMITTALS:

A. Formal Notice: Page #1 of the RFP Package. If a Proposer is a corporation, it must be certified with the Florida Secretary of State and have a corporate status in good standing, and in the case of out-of-state corporation, they must present evidence of authority to do business in the State of Florida.

B. Letter of Transmittal: This letter will summarize in a brief and concise manner, the Proposer's understanding of the scope of work and make a positive commitment to perform the work in a timely manner. The letter should name all of the persons authorized to make representations for the Proposer, including the titles, addresses and telephone numbers of such persons. An authorized agent of the Proposer must sign the Letter of Transmittal indicating the agent’s title or authority.

This letter should also serve as acknowledgement by the Proposer that the contents of the submittal are true and accurate, and that the requirements of this RFP can be met, including but not limited to, insurance, bonding and licensing requirements. Further, the Proposer acknowledges their intent to execute an Agreement with the COUNTY.

C. License Sanctions: Regulatory/license agency sanctions within the past 5 years.

D. Attachment A - Conflict of Interest Statement (Rev. 3/2020) E. Attachment B - Compliance with the Public Records Law (Rev. 8/2020) F. Attachment C - Worker’s Compensation Form (Rev. 3/2020) G. Attachment D - Taxpayer ID Number and Certification W-9 Form (Rev. 10-2018) H. Attachment E – Drug Free Workplace (Rev. 2/13/06) I. Attachment F - Americans Disabilities Act Affidavit (Rev. 11/2020) (If applicable)

2. MINIMUM QUALIFICATION REQUIREMENTS

All firms responding to this RFP, to be eligible for consideration, must demonstrate and submit with firm’s response all of the Minimum Qualification Requirements (MRQs) stated below in order to be eligible for evaluation of their submittal.

Firm must provide a section, with your firm’s response, labeled “Minimum Qualification Requirements (MQR)” addressing all items below by #.

Your firm’s non-compliance to the outline below will hinder the Evaluation Committee’s ability to find the responses of the MQRs to the RFP and could cause your firm to be determined non–responsive and disqualified from being further evaluated. Ensure that the MQRs below are easily found and clearly addressed within your firm’s response.

1. Years in Business:

Firm must have ten (10) years’ experience having provided the scope of work as outlined in this RFP. Proof of ten years’ experience may be provided by firm’s incorporation for the required ten (10) years as reflected on Sunbiz.org. The ten

(10) years’ experience shall be counted from June 1, 2007. The Sunbiz website is www.sunbiz.org. Your firm must provide a copy of your firms Sunbiz with the firm’s submittal.

2. Experience for the Firm and the Account Manager:

a. Firm must have a minimum of ten (10) year demonstrated experience in managing fixed income assets for State and Local Governments.

b. Firm must be currently managing at least $10 billion of assets for a public organization. The Firm’s own funds will not count as public funds.

c. Account Manager that will be assigned must have a minimum of twenty

(20) years’ experience in public funds investment management in the State of Florida.

d. All employees of the firm that are associated with this contract must be acceptable to both SCBOCC.

e. Firm must be knowledgeable of all applicable Florida Statutes with regard to qualified investments for public entities.

f. The firm must provide a list of client references, including names and complete addresses with telephone numbers for reference checks. Firm must provide the size of the portfolio of the client references that are similar in size as the County.

Your firm must provide responses that address each item a–f above stating how your firm meets these requirements.

http://www.sunbiz.org/

3. Licenses

All firms listed as part of this RFP must be licensed under the appropriate Federal, State and Local laws and provide proof with submission of proposal.

The selected Proposer shall have, at the time when a proposal is submitted, and maintain throughout the term of any contract resulting from this solicitation:

• A U.S. Securities and Exchange Commission (SEC) registration as an Investment Adviser; and

• At least one member of the key personnel proposed under this solicitation shall be designated as a Chartered Financial Analyst (CFA) by the CFA Institute.

4. Firm must be registered with the Securities and Exchange Commission under the

Investment Adviser’s Act of 1940

5. Firm must be financially solvent and appropriately capitalized to be able to service the County for the duration of the Agreement.

Part - 4 Price Proposal

RFP-604354-22/TLR – INVESTMENT ADVISORY SERVICES FOR SEMINOLE COUNTY

Name of Proposer:

Mailing Address:

City/State/Zip:

Phone Number: (____) _______________ FAX Number: (________)

E-Mail Address: _________________________________

Pursuant to and in compliance with the Request for Proposals documents, including Addenda Nos. _____________ through_____________, on file at the Purchasing Division, the undersigned Proposer, hereby proposes and agrees to perform the required services for the amount hereinafter set forth. The undersigned, as Proposer, declares that the only persons or parties interested in this proposal as principals are those named herein; that this proposal is made without collusion with any person, firm or corporation; and he proposes and agrees, if the proposal is accepted, that he/she will execute an Agreement with the COUNTY in the form set forth in the Contract Documents; that he/she will furnish Insurance Certificates, that he is aware that failure to properly comply with the requirements set out in the "Instructions to Proposers" and elsewhere in the Contract Documents may result in a finding that the Proposer is non-responsive.

COST PROPOSAL:

Proposer must state all costs associated with the required services as described in the RFP documents.

Annual Fee: Provide a not-to-exceed lump sum total for the annual services to be provided in accordance with the scope of services. It is desire to have a flat monthly fee to cover these services.

Annual Fee: $ ________________________

Monthly Payment Schedule: $ __________________

The proposed fees must be inclusive of all direct and indirect expenses, labor, materials, coordination, and incidentals, including travel expenses, necessary to perform the required work as specified in the Scope of Services.

Part - 5 Evaluation of Submittals

EVALUATION METHOD

All firms considered to meet the requirements of the County will be evaluated using ranking sheets agreed to by the Seminole County Board of County Commissioners (SCBCC). Ranking sheets will include criteria and evaluation of firm’s experience, staffing, price and experience. Ranking and evaluation will be by two (2) committee members from SCBCC and two (2) committee members from SCCCC. Each proposal will be reviewed independently based solely on the merits of the proposal.

Selection of the Investment Advisory firm(s) will be made by the Board of County Commissioners.

The County expects to select two (2) or more underwriters. The COUNTY shall be the sole judge of its own best interests, the proposals, and the resulting agreement. The COUNTY’s decisions will be final.

EVALUATION CRITERIA

The following criteria will be used in the evaluation of qualifications:

• Experience of the firm (20 pts)

• Experience of the Account Manager (20 pts)

• Demonstrated experience in managing accounting and reporting (20 pts)

• Demonstrated experience in dealing with accounts like Seminole County (20 pts)

• Fee Proposal (20 pts)

ATTACHMENT A

CONFLICT OF INTEREST STATEMENT

THIS FORM MUST BE COMPLETED AND RETURNED WITH YOUR PROPOSAL

THIS FORM MUST BE SWORN TO AND SIGNED BY MEANS OF PHYSICAL PRESENCE OR ONLINE

NOTARIZATION BY A NOTARY PUBLIC OR OTHER OFFICIAL AUTHORIZED TO ADMINISTER OATHS.

1. I, (Full Name of Affiant), certify that I am the

___________________________ (Title) of __________________________________ (Full Legal Name of Firm) with a local office in ______________________ (City, State) and principal office located in ________________________________ (City, State).

2. The above named entity is submitting an Expression of Interest for the Seminole County project described as .

3. The Affiant has made diligent inquiry and provides the information contained in this Affidavit based upon his/her own knowledge.

4. The Affiant states that only one submittal for the above project is being submitted and that the above named entity has no financial interest in any other entities submitting proposals for the same project.

5. Neither the Affiant nor the above named entity has directly or indirectly entered into any agreement, participated in any collusion, or otherwise taken any action in restraint of free competitive pricing in connection with the entity's submittal for the above project. This statement restricts the discussion of pricing data until the completion of negotiations and execution of the Agreement for this project.

6. Neither the entity nor its affiliates, nor anyone associated with them, is presently suspended or otherwise ineligible from participating in contract lettings by any local, state, or federal agency.

7. Neither the entity, nor its affiliates, nor anyone associated with them have any potential conflict of interest due to any other clients, contracts, or property interests for this project.

8. The Affiant certifies that no member of the entity's ownership, management, or staff has a vested interest in any aspect of or Department of Seminole County.

9. The Affiant certifies that no member of the entity's ownership or management is presently applying for an employee position or actively seeking an elected position with Seminole County.

10. The Affiant certifies that no member of the entity’s ownership or management is currently serving as a member of any Seminole County advisory board(s) or committee(s), or alternatively, state that (insert the individual’s name) _______________________, who is a member of the above-named entity’s ownership or management, is currently serving as a member of the following Seminole County advisory board(s) or committee(s): _______________________________________________.

11. In the event that a conflict of interest is identified in the provision of services, the Affiant, on behalf of the above named entity, will immediately notify Seminole County in writing.

Signature of Affiant Date

Printed Name of Affiant Title

Sworn to (or affirmed) and subscribed before me by means of □ physical presence OR □ online notarization, this day of , 20 , by (Full Name of Affiant).

Signature of Notary Public

Print/Type/Stamp Commissioned Name of Notary Public

Personally Known OR Produced Identification

Type of Identification Produced:

Revised 11/09/20

ATTACHMENT B

COMPLIANCE WITH THE PUBLIC RECORDS LAW

Seminole County shall comply with the Public Records Law as provided by Chapter 119, Florida Statutes, and all applicable amendments. Applicants must invoke the exemptions to disclosure provided by law in the response to the solicitation and must identify the data or other materials to be protected by separate envelope, and must state the reasons why such exclusion from public disclosure is necessary. The submission of a response authorizes release of your firm’s credit data to Seminole County.

If the company submits information exempt from public disclosure, the company must identify with specificity which pages/paragraphs of their submittal/proposal package are exempt from the Public Records

Act, identifying the specific exemption section that applies to each. The protected information must be submitted to the County in a separate envelope marked “EXEMPT FROM PUBLIC RECORDS LAW”.

Failure to identify protected material via a separately marked envelopment will cause the County to release this information in accordance with the Public records Law despite any markings on individual pages of your submittal/proposal.

(a) CONTRACTOR acknowledges COUNTY’s obligations under Article 1, Section 24, Florida Constitution and Chapter 119, Florida Statues, to release public records to members of the public upon request.

CONTRACTOR acknowledges that COUNTY is required to comply with Article 1, Section 24, Florida Constitution and Chapter 119, Florida Statutes, in the handling of the materials created under this Agreement and that said statute controls over the terms of this Agreement.

(b) CONTRACTOR specifically acknowledges its obligations to comply with Section 119.0701, Florida Statutes, with regard to public records, and shall:

(1) keep and maintain public records that ordinarily and necessarily would be required by COUNTY in order to perform the services required under this Agreement;

(2) provide the public with access to public records on the same terms and conditions that COUNTY would provide the records and at a cost that does not exceed the cost provided in Chapter 119, Florida Statutes, or as otherwise provided by law;

(3) ensure that public records that are exempt or confidential and exempt from public records disclosure requirements are not disclosed, except as authorized by law; and;

(4) meet all requirements for retaining public records and transfer, at no cost to the COUNTY, all public records in possession of CONTRACTOR upon termination of this Agreement and destroy any duplicate public records that are exempt or confidential and exempt from public records disclosure requirements. All records stored electronically must be provided to COUNTY in a format that is compatible with the information technology system of COUNTY.

(c) Failure to comply with this Section shall be deemed a material breach of this Agreement for which COUNTY may terminate this Agreement immediately upon written notice to CONTRACTOR.

By submitting a response to this solicitation, the company agrees to defend the County in the event it is forced to litigate the public records status of the company’s documents.

Company Name: _______________________________________________________

Authorized representative (printed):

Authorized representative (signature):

Date:

Project Number: RFP-604354-22/TLR

THIS FORM MUST BE COMPLETED AND RETURNED WITH YOUR PROPOSAL

ATTACHMENT C

WORKERS’ COMPENSATION

COMPLIANCE CERTIFICATION

Chapter 440, Florida Statutes establishes a workers’ compensation system designed to assure the quick and efficient delivery of disability and medical benefits to an injured worker and to facilitate the worker’s return to gainful employment at a reasonable cost to the employer. It is the policy of Seminole County to do business only with those entities which are fully compliant with Chapter 440, including all reporting and premium payment requirements.

To comply with this requirement, the undersigned hereby certifies that

(Full Legal Name of Entity)

□ Has fully complied with all requirements of Chapter 440, Florida Statutes, including provisions regarding reporting and premium payments; or

□ Is exempt from the provisions of Chapter 440, Florida Statutes, for the following reasons:

Signed:

Printed Name:

Title:

STATE OF

COUNTY OF

The foregoing instrument was acknowledged before me by means of □ physical presence, or □ online notarization, this day of , 20 , by , who is personally known to me or who has produced as identification.

Signature of Person Taking Acknowledgement

Printed, Typed or Stamped Name

Title or Rank

Serial Number (if any)

Rev 3/2020

ATTACHMENT D

W-9 FORM

Form W-9 (Rev. October 2018) Department of the Treasury Internal Revenue Service

Request for Taxpayer Identification Number and Certification

Go to www.irs.gov/FormW9 for instructions and the latest information.

Give Form to the requester. Do not send to the IRS.

P ri n t o r ty p e

S ee

S p e c if ic

I n s tr u c ti o n s o n p ag e

3.

1 Name (as shown on your income tax return). Name is required on this line; do not leave this line blank.

2 Business name/disregarded entity name, if different from above

3 Check appropriate box for federal tax classification of the person whose name is entered on line 1.