Item C26
BOARD OF COUNTY C:OMIVliSSIONEHS
AC;ENDA .'rEM S{jMMI\RY
Date: M'll:ch 15.20iL6
Division:
Bulk Hem: Yes
No
Department:
Department ('on tact:
Approval to renew a contract for Financial
(PFM), linaneial advisor to Monroe County.
Services with Public Financial
Inc.
Where the current contract is due to expire April 2006. Monroe
process in 2004 and wishes to continue services with PFM.
had completed the RFQ
PFM has been under contract as the financial advisor to Monroe
N/A
STAFF RECOMMENDATIONS:
Approval
TO'fAL COST:
BlJDGETED: Yes
No
COST '1'0 COlJ~TY:
SOURCE OF FtJNDS:
REVENUE PRODlJCING: Yes
No
AMOUNT PER
Year.
APPROVED BY'
x
DIVISION DIRECTOR APPROVAL:
DOC'UVIENT
Included
To Follow
DIS
This renewal is made and into this IS1h day of March, 2006 between
Monroe ('ounty called the nty", and Public r;inancial anagement,
Inc._ called "Financial Advisor" in order to renew the agreement entered into
' ,-,
on April 2!, 2004.
ereas, the current agreement is due to expire and Monroe
to extend the agreement an additional
nty desires
Now, ill of the mutual terms understandings,
conditions, promises, covenants, and payments hereinafter set f()r
County and Financial Advisor agree as follows:
Section J. Recitals. 'The above recitals arc true and correct and incorporated
herein.
Section 2. Term. '['his agreernent is hereby extended Ic)r one year from the
date of expiration of the current agreement.
Section 3.
The County party shall read:
Thomas J. Willi, County
1100 Simonton Street
1.'1,33040
, nistrator
individuals b.om
this
In
1'.
r.
r.
rector
rector
rector
T
rector
il ,Managing Director
Managing Director
Senior Managing sultant
lover Senior Managing Consultant
Shelton, ltant
All
conditions of
In the parties
seal, the day and year first written
hereunto set their hands and
(Seal)
Attest I)anny L Kolhage, Clerk
Board of Commissioners
Of Monroe County, Florida
Deputy Clerk
Mayor
Public Financial Management
By:
Title:
T
J)A IE:
April 2005
nWlvf:
Pamela G
('Ie rk
TO:
,)'alvafore Dlrec{or
& 8w!gef
At the March 16,
approval and authorized
between Monroe County
Monroe County
Board of County Commissioner's meeting the Board granted
execution of a Renewal for Financial Advisory Services
and Public Financial Management, Inc (PFM), financial advisors to
Enclosed are two duplicate originals of the above-mentioned for your handling Should
you have any questions please feel free to contact our office
cc County Attorney
Finance
File
This renewal is
Monroe County
, called "Financial
on April 2 l, 2004.
this 16th day of March, 2005 between
"County", and Public Financial Management,
in to renew the agreement entered into
the current is due to expire and
to extend the agreement an additional
Now, of the mutual terms understandings,
conditions, promises, covenants, and payments hereinafter set for
County and Financial . agree as follows:
above recitals are true and correct and incorporated
herein.
This agreement is hereby extended for one year from the
date of expiration of the current agreement.
County party shall read:
Thomas J. Willi, County
1 100 Simonton
33040
s
conditions
set . r hands
Attest Danny L, Kolhage, Clerk
Board of County Commissioners
Of Monroe County, Florida
Public Financial Management
iuw?2~
!~~M__~M___M_-73MM
By: M
This addendum is made and
ONROE and
IJ1 order to amend that certain
November 21,
13,2002,
into this 19th day of F'
FINANCIAL MANAGEMENT,
entered j nto
anuary
\VllEREAS, Monroe
AdVIsor and
IS
a
f~)r
for
will not become effective until after the
No\v IN CONSIDERATION of the rnutual terms
promises, covenants, and hereinafter set forth, County and
as follows:
Advisor agree
~,
The above recitals are true and conect and'
herein,
This
such time as a permanent
is extended on a month-to-month basis until
for these ser</ices is entered into.
All other conditions of the
shall remain in full
force and effect.
IN WITNESS
year first written above,
the parties have hereunto set their hands and seal, the day and
(Seal)
Attest DANNY L,
CLERK
BOARD OF COUNTY COMMISSIONERS
OF MONROE FLORIDA
Deputy Clerk
Chairman
PUBLIC'
AN
BETWEEN MONROE, COUNTY AND PUBLIC FINANCIAL MANAGEMENT,
INC. FOR FINANCIAl, AOVISORY SERVICES
of ~> 2004, and between Monroe
Inc., authorized to do business in the State of Florida
the terms and conditions under which the Financial
This agreement, made and entered into
hereinafter called the and Public Financial
called the Financial Advisor or "PFM") sets forth
Advisor shall services.
WITNESSETH
WHEREAS, the issued a
the Board Commissioners: and
for
for Financial
Services and PFM was selected
WHEREAS, PFM ha,> served the County since 1986, and:
WHEREAS, Monroe
has extended said contract
for services, and:
WHEREAS, Monroe County has
RFQ process for Financial
Services and:
and
WHEREAS, the County and PFM have
originally
to extend services under the same scope of services
NOW, THEREFORE, in consideration of the above mentioned
Agreement and the various covenants, conditions, terms and which
and for the purposes of this
I. SCOPE 01" SERVICES
PFM shall provide, upon request of the County Administrator or Commission, services related to
financial planning and policy development and services related to debt issuance. The services provided shall
include but not necessarily be limited to the following:
I.
.. Assist the County in the formulation of Financial and Debt Policies and Administrative Procedures.
" Review current debt structure, strengths and weaknesses of stmcture so that future debt
issues can be structured to maximize to finance future needs, This will but not
be limited, to reviewing debt for the of that debt to
with
"
future debt
to determ inc
to raise future debt
sources
for
ofille
nec,ds.
"
Assist the County with the
revenue sources,
short-term assessments, user
and grants and
and
the report,> of accOlmtants,
such studies
of any
financial
Develop, manage and maintain computer models for long-teon capital planning which
levels of ad valorem and non-ad valorem taxation, growth rates by
and item, and cost of debt issuance, and
balances, selected and debt ratios and other financial
determined the
for
revenue
and
measures as may be
.. Provide debt services schedules interest rates, issue sizes, a.nd
these are needed for consultants or fi)r related County fiscal and
structures as
.. Attend
eff()!i to
with staff, consultants and Commission. The County will make a reasonable
and consolidate issues to minimize the travel inconvenience to PFM,
Review underwriter's
and submit a wI'itten analysis of same to the County.
.. Undertake any and all other financial
County bond and other
management issues and related fiscal
and policy
and financial
programs,
the
tax, cash
.. Assist the
financial
for public
and/or referendums.
In
" Provide
financial services as requested by the County.
2.
..
financial and economic factors to detennine if the issuance of bonds is
.. Develop a financing plan in concert with
the liming and number of series of bonds to be
staff which would include recommendations as to
., by recommending the best method of sale, either as a negotiated sale,
sale. In a public sale, make recommendation as to the determination best
bid. In the event of a negotiated sale, assist in the solicitation, review and evaluation of any
investment banking proposals, and provide advice and information necessary to aid in such selection,
.. Advise as to the various financing alternatives available to the
altematives related to Debt Transaction
schedule and cash flow
evaluation of revenues available,
.. Identify
bond features and advise
additional debt test, etc.
reserve
flow of
.. Evaluate benefits of Bond Insurance and/or
insurance for
Reserve Fund.
If
credit
to
and
with the
overall
III the procurement of other
dc,
issuance such as
Review the terms, conditions and structure of any proposed dcbt
,md modifications and enhancements where
the constraints or current financial and fiscal capability,
Prepare the and final official statement and coordinate with the
data, disclosure information and factors the and the
program,
&
bond market conditions
advise the
to the most
Advise the
considerations,
on the condition of the b<Jnd market at the time of sale,
and economic considerations.
volume,
Assist and advise the in
of the bonds and final tenns of
recommendations regarding a proposed
the lowest based on market
the bond Issue IS
process,
the services of the financial advisor will be modified to reflect that
3.
PFM shaH
services that will include, but not be limited to, the
l.
2.
3.
4.
5,
6.
fee financial analysis
Grantsmanship
Rate analysis
Management
Referendum
Legislative initiatives
n. WORK SCBEDl..JLE
The sel"Vices of the Financial Advisor are to commence as SOOI1 as after the execution of
this and a request by the County for swch service, and shall be undertaken for each financial
or and as to assure m marmer and time which are in accordance
with the purpose of this Agreement
Services which are not related to a transaction
and the financial Advisor,
agreed between
the services described, Ices
be
I , serv ICes
monthly for !IJ.1J.imit".<;I services.
1.
Director
Consultant
Consultant
$175.00
$160.00
$150.00
$! 30.00
$1 10,00
No charge
No
Senior
Clerical
Admin istrati ve
In addition to the abovc, PFM will be compcnsated for necessary, n.:a,ooable, and documented out-of-
expense incurrcd for travel, meals, a, in the amounts authorized Section I 2. 06 I,
Statutes, mail, ,md other cost and any actual cost for
data and computer time which are incurred by PFM.
be
For services and expenses related to financial
PFM will invoice the
For services related to Debt TrdIlsaction the will be invoiced
trdnsaction to be from the proceeds ofthe financing.
PFM upon
of the
TIle and the Financial Advisor reserve the righi,
the method
the term of this Agreement, to review
IV. TERMS AND TERMINATION
This agreement shall be for a term of one year commencing upon the date first written above.
V. ASSIGNABILITY
The Financial Advisor shall not a'isign any interest in this Agreement or suocontrdct any of the work
under the Agreement and shall not transfer any interest in the same without the prior written consent of the
VI. INFORMA TION TO BE FURNISHED TO THE FINANCIAL ADVISOR
All
perfonned tmder this
shall cooperate
of the
to the Financial
the Financial Advisor in every way
out the work to be
the and the
VB. NOTICES
When either
United States mail,
and the
part ies the
tmta the other,
requested, addressed to
lIotice in with the
as the for
Mr. Jim Roberts
Administrator
00 Simonton Street
West, FL
Mr, Hal
Public
10100 Deer Run Fanns
Fort FL 12
TITLE TRANSFER
l"he of this Agreement shall be the sole and exclusive
other of this Agreement. The Financial Advisor shall deliver to
to the Agreement.
upon completion or
any and all material
IX. FINANCIAL ADVISOR'S REPRESI<:NTATIVES
A. Assignment of Named Individuals
roc
named individuals irom PFM shall
the services set forth in this Agreement:
Mr. David Miller,
Mr. Hal Semor-
Director
Client Manager
If~M _MEMIlERS
David Miller,
Ilal Senior
Consultant
Consultant
Rebecca Peterson, Consultant, Orlando
Jay Glover, Consultant, Orlando
Director
Consultant, Client Manager
s. Changes in Staff
by the
The County has the right to request, for
the County make sueh a request, PFM shall
reason, PFM to any member of the advisory staff. Should
suggest a substitute for approval by the County.
X. INSURANCE AND INDEMNIFICATION
PFM shall indemnify, save and hold the COllIlty hannless from any and all claims, suits, judgments, or
damages kind or description including court costs and attorney's fees arising out of PFM's errors, omissions or
negligent act<; the performance of this agreement.
PFM ha<; a comprehensive insurance program (self-insurance) for all
limited to comprehensive general liability, protessionalliability, automobile
will provide an insurance certificate upon request.
of coverage but not
and worker's compensation, PFM
XI, FINANCIAL ADVISOR'S REPRESENT ATIVI~S
PFM shall
all insurance coverage as
the County,
xu. MISCELLANEOUS
A. PFM shall maintain all books, records, and documents
Agreement 11'1 accordance with
or their authorized
party to this for
termination ofthis Agreement.
under this
Each party to tll is
records of each other
years the
shall have reasonable and
records purposes the term of the
B.
constmed in accordance with
the State.
Costs, and
Slate of Florida
This
this Agreernent
administrative or
The and
or between any of
agree that, in the event of
the issue shall submitted to mediation
of the ternlS or
to the institution of
ternl of
other
C. If any tenn, covenant, condition or provision of this the
thereof to any circumstance or shall be declared invalid or unenforceable to any extent a court
the tenns, covenants, conditions and of this shall not be affected
and each tenn, covenant, condition and of'this shall be valid and shall be enforceable to
the fullest extent law unless the enforcement of the tenns, covenants, conditions and
of this would prevent the of the intent of this The
to refonn the to any stricken a valid as close as
intent of the
and PFM
to
Attomey's Fees and Costs. The County and PFM agree that in the event any cause of action or
is initiated or defended any party relative to the enforcement of this
party shall be entitled to reasonable attorney's fees, court costs, and out-of-
as an award the and shall include at1omey's fees, cour1..s costs,
In Mediation initiated and conducted
shall be with Rules of Procedure and IIsual and customary
the circuit court of Monroe County.
D,
administrative
Agreement, the
and
pursuant to this
E. Effect. The terms, covenants, conditions, and of this Agreement shall bind and
inure to the benefit ofthe County and PFM and their representatives, successors, and
of this
Each
have
and warrants to the other that the executioll,
authori7..ed all necessary and corporate as
and
by
F.
law.
G. Claims for Federal or State Aid. PFM and County agree that each shall be, and is, to
for, seek, and obtain federal and state funds to further the purpose of this Agreement; that all
requests, grant proposals, and solicitations shall be approved by each party to submissioll.
H. Adjudieation of or County and PFM agree that all and
disagreements shall be to be resolved by meet and confer sessions between of each of the
parties. If lIO resolution can be upon within 30 after the first meet and confer session, the issue or issues
shall be discussed at a of the Board of COW1lty Commissioners. If the issue or issues are still not
resolved 1:0 Ihe of the then any party shall have the 1:0 seek such relief or as may be
provided by this or by Florida law.
and PFM that there will be no discrimination any person,
a detennination a court of competent that discrimination has
tcnninates without further action 011 the part party, effC{:tive the date
to with Federal and Florida statutes, and all local a<;
to These but are not to; Title Civil
1964 (PL 88-352) which discrimination on the basis of race, color or national 2) Title IX
Edueation Amendment of 972, as amended (20 USC ss. 6!U 683, 16&5-16&6), which discrimination
the basis of sex; Section 504 of the Rehabilitation Act of 1973, as amended USC s. which
discrimination on the basis The Discrimination Act of 1975, as amended USC 55.
which discrimination Oil the basis 5) The Abl.lSC
a<; amended, to nondiscrimination on basis of abuse; 6)
Alcoholism Treatment and Rehabilitation Act of 1970
nondiscrimination the basis of alcohol abuse or alcoholism;
527 USC ss, 690dd-3 and as amended,
8} Title VIH ofthe Civil Act of 1968 (42 USC s. et
of
amended from time
I.
and it is
occurred, this
of the court order.
J. in the event
10 the formation, execution,
the extent the other party, in all
the substance of this Agreement or
that no party to this
any administrative or legal proceeding
or breach or this Agreement,
processes,
of the under this Agreement.
to enter into any arbitration
is instituted
and PFM agree to
and other
and PFM
related to this
either party
to
related to
agree
not
that
K Covenant of No Interest. and PFM covenant that neither
any interest, which would contlict in any manner or with its
interest of each is to and receive benefits as in this Agreement.
has any interest, and shall
under this Agreement, and
of the and will be
as delineated in Section 112.3 13,
business with one's agency;
employment or contractual and
Code of Ethics. County
with the standards of
but not limited to,
unauthoriz.ed misuse of
disclosure or use of certain infonnation.
M, No Solicitation/Payment The and PFM warrant that, in to itself, it has neither
!lor retained any or person, other a bona fide solely !(}r it, to solicit or
secure this Agreement and that not or any persOIl, company, individual, or finn,
other than a bona fide solely it, any commission, percentage, or other considerdtion
contingent llpon or resulting from the award or ofthis Agreement. For the breach or violation of the
the PFM that the County shall have the to terminate this without liability an~ at it.<;
to offset monies owed, or otherwise recover, the full amount such fee, commission, percentage, or
consideration.
N. Public Access. The reasonable access to, and inspection of,
all documents, papers, letters or other control subject to the provisions of Chapter
119, Florida Statutes, and made or received the County and PFM in with this Agreement; and the
County shall have the to unilaterally cancel this Agreement upon violatioll of this provision by PFM.
o. Non-Waiver of Immunity. Notwithstanding he provisions of Sec. 286.28, Florida Statutes, the
participation of the County and the PFM in this Agreement and the acquisition of any commercial liability insurance
coverage, self-insurance coverage, or local government insurance pool coverage shall not be deemed a waiver
of immunity to the extent of liability coverage, nor shall any contract entered into by the County be required to contain
any provision for waiver.
P. Privileges and Immunities. All of the privileges and immunities from liability,
ordinances, and rules and pensions and relief, workers' and other benefits which
of officers, agents, or employees of any or of the when
functions under this Agreement within limits shall to the s,1.me and
extent to the of such functions ami dllties of such officers, agent~, volunteers, or outside the
territorial limits of the
Q.
Agreement is not
and
intended 10, nor shall it
the
case the
is not intended to, Ilor shall it
except the extent
be constmed as, any
law except to the extent of actual
be offered in satisfaction of
construed as,
the Florida
Of
or progrdm
officer, or
individual or group
apart, inferiof to, or
Non-Reliance by Non-Parties. No person or
to enforce attempt enforce any
hereunder, and lhe
of either have the
or entities, have
!11 or
R.
of this
7
T. No Personal No covenant or agreement contained herein shall be deemed to be a covcnant
or agreement of any member, officer, agent of Monroe County in his or her individual and no
membcr, officer, agent or of Monroe shall be liable personally on this or bc to any
or reason oftne execution of this Agrecment
u. Execution in
which shall be as an
of the hereto may execute this
may be executed in any number of counterpart~, each of
shall constitute one and the same instrument and any
any such counterpart,
V.
of reference
Section
that such section
of this Agreement
have been inserted in this Agreement a~ a matter of convenience
are not a part of this and will not be used the
IN WITNESS THEREOF, the County ,md Financial Advisory have executed this Agreement as of the and
year herein above written.
LKOLHAGE, Clerk
BOARD OF COUNTY COMMISSIONERS
OF MONROE COUNTY, FLORIDA
Date
VIVIAN E. PIOOTI
MY COMMISSION g DD 215474
EXPIRES: May 26, 2007
_ TIvu NoIory PtAlk u_
PUBLIC
INC
BY:
BY:
Tille
Tille
Date
oc
OC
(' ~d
....J
lL..
LOBBYING AND CONFUCT OF INTEREST CLAUSE
STATEMENT UNDER ORDINANCE 010-1
MONROE FLORIDA
ETHICS CLAUSE
warrants that heht has not
retained
or otherwise had act hislits behalf any former
officer or
In violation
Section 2 of Ordinance No. 10-1990 or any
officer or
111
of
Section 3 of Ordinance No, 10-1990. For breach or violation of this the
may, in its
terminate this contract without
and may
in its
deduct from the contraet or or otherwise recover, the full amount of any
percentage, or consideration
STATE OF
COUNTY OF Lee
PERSONALLY APPEARED BEFORE the
Hal W,
first
by me,
his/her
of individual
in the space
1st
June
04
-~---_.~)
placed on convicted
crime may not submit a
to a public
for
not submit bids on
awarded or
or consultant
with
Section I
date of being
a
contract to
a on a contract
or
to public entity,
contractor,
public entity,
of
RICHARD WUNSCH.
Attorney At law
614 Whil:ehud St. Suite 1
Key WEISt, Florida 33040
Phone: (305) 296-7060
Fax: ~5)294-4260
To: Pam - Clerk of the Court
IFllIOO 295-3516
Phone:
Re:
Rick
Attn:
o
o For Review
o PI.... Comment 0 Pleas.
011'1-.
'Co~
see
Original
Perez
fur REW
2.... ....62 SOE
3:J .::l.:::l
d S S 9 2 2
.::l
28,2006
Key West FI. 33040
Tel. (305) 296-7060
(305) 294-4280
Slaton
Clerk of the Court
Whitehead Street
West, Florida 33040
Please be informed that on May 24tll2006 I received a citation 1734-DVP for careless
driving and elected to complete Traffic School. Due to a conflict in scheduling and a memory
lapse, I was un-aware of the deadline date and received a suspension letter, I am requesting
additional time to,)7ompl the school so I do not obtain any points on my Driver's
,'/......)1'/
Ri
2 .
082v-v62-S0E
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tJ'l
dlS=S 90 2 82 qa~