DATE: February 1, 2018
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Kristine Tallent, Assistant City Administrator / CFO
Brian Wilcox, Purchasing Manager
SUBJECT:
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Consideration Of Procurement Award To Government Portfolio Advisors Of Portland, Oregon In The Flat-Fee Amount Of $48,000 Per Year For Non-Discretionary Investment Advisory Services For Certain Non-Pension Assets Of The City For A Term Of Award For The Finance Department (Purchasing Office Procurement Solicitation No. 2018-011; $25,000 Budgeted In 110-85520-41500 For Fiscal Year 2018; Contract No. 2018-0006) (02/08/18 Finance 3-0)
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Purpose
The purpose of this procurement is to purchase non-discretionary investment advisory services for certain non-pension assets of the City, for a term of award of three (3) years with two (2) options to extend, each for up to one (1) year, for a maximum possible term of award of five (5) years total.
Background
In the context of investment advisory services, the term "non-discretionary" refers to the service provider being an advisor to the client, and executing the client's decisions, rather than the service provider using its own discretion to make final decisions for the client on what investments the client purchases and sells.
The City published on November 30, 2017 a Notice to Proposers in the Williamson Herald soliciting sealed written proposals to be submitted in response to a request for proposals for non-discretionary investment advisory services for certain non-pension assets of the City (Purchasing Office Solicitation No. 2018-011). In addition, solicitation documents were sent on or about the same date directly to twenty (20) potential proposers known or thought to be interested in this solicitation. Proposals from four (4) service providers were publicly opened at the submittal opening held on January 5, 2018. A tabulation of the proposals received for this solicitation is attached.
Using evaluation...
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