DATE: July 19, 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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Procurement Agreement With 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; City Contract No. 2018-0006)
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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
Pursuant to Purchasing Office Procurement Solicitation No. 2018-011 and a February 1, 2018 staff recommendation, the Board of Mayor and Aldermen voted on February 27, 2018 to accept and approve the Government Portfolio Advisors proposal for non-discretionary investment advisory services for certain non-pension assets of the City for a term of award, and to award this procurement to this proposer.
Financial Impact
As reported previously, the proposal from Government Portfolio Advisors of Portland, Oregon, is in the flat-fee amount of $48,000 per year for the requested and proposed services.
Attachment
City Contract No. 2018-0006, as now executed in full with Government Portfolio Advisors of Portland, Oregon for non-discretionary investment advisory services for certain non-pension assets of the City, is attached.