Item M6BOARD OF COUNTY COMMISSIONERS
AGENDA IT SUMMARY
Meeting Date., June 11.6 2014 Division: C inistration
Bulk Item: Yes X No
Department: Coot yAdministration
Staff Contact Person: Kevin Maslok X44EQ
AGENDA ITEM WORDING.- Approval to advertise a Request for Proposal for a privately placed
credit facility in an amount not to exceed $48 million.
ITEM BACKGROUND: Monroe County adopted a five-year capital plan as part of the budget, approved
September 26, 2011 As part of the adopted capital plan, five construction projects as well as the
refunding of the Infrastructure Sales Surtax Revenue Bonds, Series 2003 were to be financed through
the issuance of a 20 year debt obligation in the amount of $33 million.
The RFP will include pricing for a fixed term obligation in the amount of up to $32 million and a line
of credit for up to $16 million, The two separate notes will save on interest costs by more closely
matching the County's funding needs to the timing of its expenditures.
PREVIOUS RELEVANT BOCC ACTION- Adoption of the Five Year Capital Plan alongrrith the
Budget on September 26, 2013.
STAFF RECOMMENDATIONS- Approval to advertise
Advert
TOTAL COST: MOO INDIRECT COST: - BUDGETED: Yes X No
DIFFERENTIAL OF LOCAL PREFERENCE:
Advert
COST TO COUNTY: JL00
SOURCE OF FUNDS: 304 Infrastructure Sates Surtax
REVENUE PRODUCING: Yes N X AMOUNT PER MONTH Year
APPROVED BY.- County Ai7coMB/Purchising Risk Management
L.
DOCUMENTATION: Included Not Required
DISPOSITION: AGENDA ITEM #_
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Rice,
David
Amy Heavilin
I
District
III` .I 3
District
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or roposa
best provide Monroe County, Florida ("County") with both (institutions may submit for
either or both):
1 . A fixed rate, Non -Bank Qualified Loan (the "Loan"). The Loan will be awarded
based on overall borrowing cost and terms most favorable to the County, and at the
County's sole discretion. The financing will be a private placement structured as
Additional Bonds issued under the County's Infrastructure Sales Surtax Revenue Bond
Resolution (the "Bond Resolution"). The County will not prepare an offering statement
with respect to the Loan. The Loan will be issued in an amount not to exceed
$32,000,000. The payment of the principal and interest on the Loan shall be secured
equally and ratably by a pledge of and lien upon the Infrastructure Sales Surtax
Revenues. The proceeds of the Loan will be used to current refund the Infrastructure
Sales Surtax Revenue Bonds, Series 2003 (the "Series 2003 Bonds") maturing in the
years 2015-2018, outstanding in the par amount of $7,060,000. The rest of the Loan wil'
fund new money projects, including the Cudjoe Key wastewater project.
2. A non -revolving line of credit, to be made available as a tax-exempt line of credit
("Line of Credit") in the amount of $16,000,000. The Line of Credit will be secured by
Infrastructure Sales Surtax Revenues. All amounts available to be drawn under such
Line of Credit shall be drawn on or prior to December 31, 2016. The Line of Credit shall
be made available beginning upon closing, through and including December 31, 2016.
The County would also like to maintain the flexibility to convert the drawn amount of the
Line of Credit into a ten-year term loan at the time of draw.
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Please keep in mind the County will not accept any deviations from the details of
the Resolution. County!accept any offer with capital or
solelyother interest rate adjustment language with respect to changes to tax law or
banking regulations. The only. interest rate adjustment provision the County will
consider is one imposed by final judgment of the IRS and due from the holder
which results i of County.
• Interest Payment Dates: April 1 and October 1, commencing April 1, 2015
• PrincipalApril r, commencing April 1, 2015
Final• iApril , 2026
Basis• 30/360 Day Count
• Tentative Closing. , 2014
• Preliminary i i life of approximately:
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AmortizOon
Date
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4/1/2019
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4/1/2022
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The successful bidder will be required to deliver certain certificates at closing including
one to the effect that they are a sophisticated investor having knowledge and
experience in financial and business matters and are capable of evaluating the merits
and risks of lending funds to the County, that they have had access to and have
reviewed such information concerning the County as they have deemed necessary, that
they understand the Loan and Line of Credit are not general obligations of the County,
but is payable solely by the revenues to be described in the Series Resolution, that they
are not relying on disclosures from the County and that they are buying the Loan for
their own accounts and not with a view for resale or redistribution. The Loan may be
assigned in whole but not in part and only to sophisticated investors.
THE COUNTY RESERVES THE RIGHT TO REJECT ANY OR ALL BIDS AND
RESERVES THE RIGHT TO WAIVE, IF PERMITTED BY LAW, ANY IRREGULARITY
OR INFORMALITY IN ANY PROPOSAL.
RX9111 4:4 k, 117-11
June 16, 2014
RFP Release Date
July
22, 2014
-1 Deadline for Vendor Questions
July
25, 2014
- Last day to issue addenda
Augustl,2014
Bid Opening �� 3:00 PW No late bids will be accepted
August
5, 2014
Selection ComMittee Ranking Meeting
'September
3, 2014
Monroe County BOCC Meeting - Bid Award
September
24, 2014
Loan Closing
4. BACKGROUND INFORMATION
Monroe County ("County") is a non�chartered county and a political subdivision of
the State of Florida. The County population is approximately 73,000 as of the last
census. The Board of County Commissioners, constituted as the governing body,
has all the powers of a body corporate, including the powers to contract; to sue and
be sued; to acquire� purchase, hold, lease and convey real estate and personal
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masvid'als@pfm.com; varonap@,pfm.com. Oral requests (including but not limited
to telephone calls) will not be answered. Answers to all timely questions will be
posted on DemandStar, no later than seven (7) calendar days prior to the deadline
for receipt of proposals.
All addenda are a part of the contract documents and each Proposer will be bound by
such addenda, whether or not received by him/her. It is the responsibility of each
Proposer to verify that he/she has received all addenda issued before responses are
opened.
6. PROPOSAL DEADLINE
Three (3) copies of the response to this RFP must be submitted by no later than
1, 2014 at 3:00 PM Eastern Time to the following locations:
One original
Monroe County Purchasing Department
1100 Simonton Street, Room 2-213,
Key West, FL 33040
On c9W df) via email masvida1sRPfm.com
One copy ail var6nap@pfm.com
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y observed. Proposals delivered after 3:00 PM on the
.cepted. There will be no exceptions to this rule.
-Dare utilizing the following format and headings. The
"'it any Wirmumatfiturf rs
ormatio n orally or in a demonstration, since oral presentations or ot
not be solicited.
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In this tab, state the fixed interest rate for both the initial term loan (and index used to
lerive such rate), formula for determining fixed interest rate for subsequent Line of
Credit term loan, prepayment provisions, and fees.
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Provide a listing of all conditions, terms and restrictions other than those specified in th
RFP, which would be included in your commitment to provide the Loan and/or Line of
Credit. Also, if you are unable to offer the Loan or Line of Credit on the terms indicate
in this RFP, explain any deviations in this tab. I
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entity that failed to perform services or furnish goods similar to those sought in the
request for compeve solicitation -
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Proposer shall complete and execute the forms specified below (found in Section Two
in this RFP) and attach them within this tab.
County,, orms
> Lobbying and Conflict of Interest Ethics Clause
Non -Collusion Affidavit
> Drug Free Workplace Form
> Public Entity Crime Statement
> Any Proposer claiming a local preference as defined in Monroe County
Ordinance 023-2009 must complete the Local Preference Form and attach it to
the Proposal.
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Award shall be made to the responsible proposer whose proposal is determined to be
the most advantageous to the County, taking into consideration the evaluation criteria
set forth below:
Overall borrowing cost
50 points
Compliance with other terms as stated in
the RFP
30 points
7
Location of firm (local pr�eference if
ti I po
applicable: up to 5 additional points)
Total points earned are on a scale of I — 100 points
I = lowest 100 = highest
The County reserves the right to reject any and all responses and to waive technical
errors and irregularities as may be deemed best for the interests of the County.
Responses that contain modifications, are incomplete, unbalanced, conditional,
obscure, or that contain additions not requested or irregularities of any kind, or that do
not comply in every respect with the Instruction to Proposer and the contract
documents, may be rejected at the option of the County.
A. Proposers shall thoroughly examine and be familiar with the specifications in this
REP. Failure of any proposer to receive or examine this document shall in no way
relieve any Proposer of obligations pertaining to this bid or any resulting contract.
B. No portion of any contractual rights arising from this RFP may be assigned
without the prior written consent of the COUNTY.
C. The Proposer warrants that it will comply with all applicable federal, state a
local laws and regulations in providing the services herein. I
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D. The Proposer is solely responsible for reviewing any addenda that may be issued
in connection with this RFP. Any Proposal submitted in response to this RFP will
constitute an agreement that it is responsive to any addenda that have been issued, if
any.
E. Pursuant to Florida Statute 119.0701, Contractor and its subcontractors shall
comply with all public records laws of the State of Florida, speccally to:
(a) Keep and maintain public records that ordinarily and necessarily would be
required by Monroe County in the performance of this Agreement.
is Provide the public with access to public records on the same terms and
conditions that Monroe County would provide the records and at a cost that does not
exceed the cost provided in Florida Statutes, Chapter 119 or as otherwise provided by
law.
(c) Ensure that public records that are exempt or confidential and exempt from public
ell
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MONROE COUNTY, FLORIDA
(Company)
"...warrants that he/it has not employed, retained or otherwise had act on his/her behalf
any former County officer or employee in violation of Section 2 of Ordinance No. 010-
1990 or any County officer or employee in violation of Section 3 of Ordinance No. 010-
1990. For breach or violation of this provision the County may, in its discretion,
is Agreeme-it without liab.� aj� jLa� also, i-t its discLigig-t, ded
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STATE OF:
COUNTY OF:
Subscribed and swoo to (or affirmed) before me on
(date) by (name of affiant). He/She is personally known
to me or has produced (type of identification) as
identification.
NOTARY PUBLIC
My Commission Expires:
W�
NON -COLLUSION AFFIDAVIT
of the city of according
-aw on my oath, and under penalty of perjury, depose and say that
I am of the firm
Of the bidder
making the Proposal for the project described in the Request for Proposals
for and that I executed
the said proposal with full authority to do so;
The prices in this bid have been arrived at independently without collusion,
consultation, communication or agreement for the purpose of restricting
competition, as to any matter relating to such prices with any other bidder or
with any competitor;
3. 11riless otherwise required by law, the prices which have been quoted in this
bid have not been knowingly disclosed by the bidder and will not knowingly
be disclosed by the bidder prior to bid opening, directly or indirectly, to any
other bidder or to any competitor; and
4. No attempt has been made or will be made by the bidder to induce any
other person, partnership or corporation to submit, or not to submit, a bid for
the purpose of restricting compeon; and
5. The statements contained in this affidavit are true and correct, and made
with full knowledge that Monroe County relies upon the truth of the
statements contained in this affidavit in awarding contracts for said project.
Emu=
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STATE OF:
COUNTY OF:
Subscribed and sworn to (or affirmed) before me on
(date) by (name of affiant). He/She is personally known
to me or has produced (type of identification) as
identification.
NOTARY PUBLIC
My Commission Expires-,
Tf 16-1-r f UL-rwgrf
certifies that:
(Name of Business)
1 . Publishes a statement notifying employees that the unlawful manufactun
distribution, dispensing, possession, or use of a controlled substance
prohibited in the workplace and specifying the actions that will be taken again!
employees for violations of such prohibition.
2. Informs employees about the dangers of drug abuse in the workplace, th
business' policy of maintaining a drug -free workplace, any available dru
counseling, rehabilitation, and employee assistance programs, and the penaltiE
that may be imposed upon employees for drug abuse violations,
3. Gives each employee engaged in providing the commodities or contractu,
services that are under bid a copy of the statement specified in subsection (1).
4. In the statement specified in subsection (1), notifies the employees that, as
condon of working on the commodes or contractual services that are undf
bid, the employee will abide by the terms of the statement and will notify th
employer of any conviction of, or plea of guilty or nolo contendere to, an
violation of Chapter 893 (Florida Statutes) or of any controlled substance law (
the United States or any state, for a violation occurring in the workplace no late
than five (5) days after such conviction.
5. Imposes a sanction on, or require the satisfactory participation in a drug abus
assistance or rehabilitation program if such is available in the employee'
community, or any employee who is so convicted.
6. Makes a good faith effort to continue to maintain a drug -free workplace throug
implementation of this section.
As the person authorized to sign the statement, I certify that this firm complies fully with
the above requirements.
MUNROM
Subscribed and sworn to (or affirmed) before me on 'date) by
(name of ffiant). He/She is personally known to me or
has produced (type of identification) as identification.
NOTARY PUBLIC
My Commission Expires -
man
"A person or affiliate who has been placed on the convicted vendor list following a
conviction for public entity crime may not submit 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 or repair of a public building or public work, may not submit
bids on leases of real property to public entity, may not be awarded or perform work as
a contractor, supplier, subcontractor, or CONTRACTOR under a contract with any
public entity, and may not transact business with any public entity in excess of the
threshold amount provided in Section 287.017, Florida Statutes, for CATEGORY TWO
for a period of 36 months from the date of being placed on the convicted vendor list."
I have read the above and state that neither (Respondent's
name) nor any Affiliate has been placed on the convicted vendor list within the last 36
uottws.
Date:
COUNTY OF.,
Subscribed and swam to (or affirmed) before me on
(date) by (name of afflant). He/She is personally known to me or has
produced (type of identification) as
identification.
NOTARY PUBLIC
My Commission Expires-
W�
111111 EMIIII I I I I I I I I I 1 11111 �111111111111il I 11111111 1:
.Name of Bidder/Responder Date:
1. Does the vendor have a valid receipt for the business tax paid to the Monroe County Tax Collector
dated at least one year prior to the notice or request for bid or proposal? _ (Please furnish
copy.)
2. Does the vendor have a physical business address located within Monroe County from which fil
i"ims. "s
i
List Address:
Telephone Numbel
B. Does the vendorlprime contractor intend to subcontract 50% or more of the goods, services or
construction to local businesses meeting the criteria above as to licensing and location?
If yes, please provide:
1, Copy of Receipt of the business tax paid to the Monroe County Tax Collector by the subcontractor
dated at least one year prior to the notice or request for bid or proposal,
2. Subcontractor Address within Monroe County from which the subcontractor operates:
Tel. Number
WEE=
STATE OF.
COUNTY OF:
Subscribed and sworn to or affirmed) before me on
(date) by (name of affiant)-
Print Name:
He/She is personally known to me or has
produced _ (type of identification) as
My Commission Expires: