HomeMy WebLinkAboutReso - CC - 111-2014RESOLUTION NO. 111-2014
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BURLINGAME
AUTHORIZING THE CITY MANAGER TO EXECUTE CONTRACTS WITH
PUBLIC FINANCIAL MANAGEMENT (PFM), INC. FOR FINANCIAL
ADVISOR SERVICES
WHEREAS, the City Council has previously identified the need to explore
financing options for certain unfunded capital needs; and
WHEREAS, the City requires independent, expert advice to evaluate such
options; and
WHEREAS, City staff issued a Request for Proposals (RFP) for consultant
services for the services of a Financial Advisor; and
WHEREAS, the City received proposals from ten (10) firms meeting minimum
qualifications, and evaluated them initially on the basis of the written proposals and then
through follow-up questions, select interviews and reference checks; and
WHEREAS, Public Financial Management (PFM) was selected as the best
qualified to provide the needed services as the City's Financial Advisor;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF BURLINGAME
DOES HEREBY RESOLVE AND ORDER AS FOLLOWS:
The City Manager is hereby authorized to execute the agreement with PFM,
attached hereto as Exhibit A.
lW
Michae B ownrigg, f la r
I, Mary Ellen Kearney, City Clerk of the City of Burlingame, do hereby certify that
the foregoing Resolution was introduced at a regular meeting of the Burlingame City
Council held on the 15th day of December, 2014, and was adopted thereafter by the
following vote:
AYES: Councilmembers:BROWNRIGG,REIGHRAN,NAGEL,ORTIZ,ROOT
NOES: Councilmembers: NONE
ABSENT: Councilmembers: NONE
'kfa—ry Ellen lkearney, City Clerk
AGREEMENT FOR PROFESSIONAL SERVICES
BETWEEN THE CITY OF BURLINGAME
AND PUBLIC FINANCIAL MANAGEMENT (PFM), INC.
THIS AGREEMENT is by and between Punic FINANCLAL MANAGEMENT, INC.
("Consultant") and the City of Burlingame, a public body of the State. of California ("City")
Consultant and City agree:
1. Services. Consultant shall provide the financial advisor services described with
further particularity in the City's Request for Proposal dated October 3, 2014, and Consultant's
proposal dated October 31, 2014. The Consultant's proposal is provided as Exhibit A, attached
hereto and incorporated herein.
2. Compensation. For providing services as specified in this Agreement, City will
pay and Consultant shall receive therefor compensation as specified in the Consultant's proposal
which is shown at Exhibit A and incorporated herein. It is understood that fees for debt
transactions may be negotiated based on the size, type and complexity of the financing involved
as each transaction is identified by the City. All fees for debt transactions shall be payable upon
the successful completion of the debt transaction. As shown in Exhibit A, reimbursement for all
out-of-pocket expenses on an actual cost basis up to $1,000 per transaction shall be paid to
Consultant and such payment shall not be contingent upon the completion of the financing
transaction. For "non -transactional" services, fees will be based upon the hourly billing schedule
shown in Exhibit A, plus out-of-pocket expenses, subject to prior approval by the City. All bills
submitted by Consultant shall contain sufficient information to determine whether the amount
deemed due and payable is accurate. Bills shall include a brief description of services performed,
the date services were performed, the number of hours spent and by whom, a brief description of
any costs incurred and the Consultant's signature. In no event shall City be obligated to pay late
fees or interest, whether or not such requirements are contained in Consultant's invoice.
3. Term. This Agreement commences on full execution hereof, for a period of 3
(three) years, at which time the performance of the firm will be evaluated. Upon mutual
agreement at that time, the contract may be extended by the City Manager for a period of up to
three years.
4. Assignment and Subcontracting. A substantial inducement to City for entering
into this Agreement is the professional reputation and competence of Consultant. Neither this
Agreement nor any interest herein may be assigned or subcontracted by Consultant without the
prior written approval of City. It is expressly understood and agreed by both parties that
Consultant is an independent contractor and not an employee of the City.
5. Insurance. Consultant, at its own cost and expense, shall cant', maintain for the
duration of the Agreement, and provide proof thereof, acceptable to the City, the insurance
coverages specified in Exhibit B, "City Insurance Requirements," attached hereto and
incorporated herein by reference. Consultant shall demonstrate proof of required insurance
coverage prior to the commencement of services required under this Agreement, by delivery of
Certificates of Insurance to City.
6. Indemnification. Consultant shall indemnify, defend, and hold City, its directors,
officers, employees, agents, and volunteers harmless from and against any and all liability,
claims, suits, actions, damages, and causes of action arising out of, pertaining or relating to the
negligence, recklessness or willful misconduct of Consultant, its employees, subcontractors, or
agents, or on account of the performance or character of the Services, except for any such claim
arising out of the sole negligence or willful misconduct of the City, its officers, employees,
agents, or volunteers. It is understood that the duty of Consultant to indemnify and hold
harmless includes the duty to defend as set forth in section 2778 of the California Civil Code.
Notwithstanding the foregoing, for any design professional services, the duty to defend and
indemnify City shall be limited to that allowed pursuant to California Civil Code section 2782.8.
Acceptance of insurance certificates and endorsements required under this Agreement does not
relieve Consultant from liability under this indemnification and hold harmless clause. This
indemnification and hold harmless clause shall apply whether or not such insurance policies shall
have been determined to be applicable to any of such damages or claims for damages.
7. Termination and Abandonment. This Agreement may be cancelled at any time
by City for its convenience upon written notice to Consultant. In the event of such termination,
Consultant shall be entitled to pro -rated compensation for authorized Services performed prior to
the effective date of termination provided however that City may condition payment of such
compensation upon Consultant's delivery to City of any or all materials described herein. In the
event the Consultant ceases performing services under this Agreement or otherwise abandons the
project prior to completing all of the Services described in this Agreement, Consultant shall,
without delay, deliver to City all materials and records prepared or obtained in the performance
of this Agreement. Consultant shall be paid for the reasonable value of the authorized Services
performed up to the time of Consultant's cessation or abandonment, less a deduction for any
damages or additional expenses which City incurs as a result of such cessation or abandonment.
8. Ownership of Materials. All documents, materials, and records of a finished
nature, including but not limited to final plans, specifications, video or audio tapes, photographs,
computer data, software, reports, maps, electronic files and films, and any final revisions,
prepared or obtained in the performance of this Agreement, shall be delivered to and become the
property of City. All documents and materials of a preliminary nature, including but not limited
to notes, sketches, preliminary plans, computations and other data, and any other material
referenced in this Section, prepared or obtained in the performance of this Agreement, shall be
made available, upon request, to City at no additional charge and without restriction or limitation
on their use. Upon City's request, Consultant shall execute appropriate documents to assign to
the City the copyright or trademark to work created pursuant to this Agreement. Consultant shall
return all City property in Consultant's control or possession immediately upon termination.
9. Compliance with Laws. In the performance of this Agreement, Consultant shall
abide by and conform to any and all applicable laws of the United States and the State of
California, and all ordinances, regulations, and policies of the City. Consultant warrants that all
work done under this Agreement will be in compliance with all applicable safety rules, laws,
statutes, and practices, including but not limited to Cal/OSHA regulations. If a license or
registration of any kind is required of Consultant, its employees, agents, or subcontractors by
law, Consultant warrants that such license has been obtained, is valid and in good standing, and
Consultant shall keep it in effect at all times during the term of this Agreement, and that any
applicable bond shall be posted in accordance with all applicable laws and regulations.
10. Conflict of Interest. Consultant warrants and covenants that Consultant presently
has no interest in, nor shall any interest be hereinafter acquired in, any matter which will render
the services required under the provisions of this Agreement a violation of any applicable state,
local, or federal law. In addition, Consultant will restrict from engaging in activities on behalf
the City that produce a direct or indirect financial gain for Consultant, other than the agreed-upon
compensations, without the City's informed consent. In the event that any conflict of interest
should nevertheless hereinafter arise, Consultant shall promptly notify City of the existence of
such conflict of interest so that the City may determine whether to terminate this Agreement.
Consultant further warrants its compliance with the Political Reform Act (Government Code §
81000 et seq.) respecting this Agreement.
11. Whole Agreement and Amendments. This Agreement constitutes the entire
understanding and Agreement of the parties and integrates all of the terms and conditions
mentioned herein or incidental hereto and supersedes all negotiations or any previous written or .
oral Agreements between the parties with respect to all or any part of the subject matter hereof.
The parties intend not to create rights in, or to grant remedies to, any third party as a beneficiary
of this Agreement or of any duty, covenant, obligation, or undertaking established herein. This
Agreement may be amended only by a written document, executed by both Consultant and City's
City Manager, and approved as to form by the City's City Attorney. Such document shall
expressly state that it is intended by the parties to amend certain terms and conditions of this
Agreement. The waiver by either party of a breach by the other of any provision of this
Agreement shall not constitute a continuing waiver or a waiver of any subsequent breach of
either the same or a different provision of this Agreement. Multiple copies of this Agreement
may be executed but the parties agree that the Agreement on file in the office of City's City Clerk
is the version of the Agreement that shall take precedence should any differences exist among
counterparts of the document. This Agreement and all matters relating to it shall be governed by
the laws of the State of California.
12. Capacity of Parties. Each signatory and party hereto warrants and represents to
the other party that it has all legal authority and capacity and direction from its principal to enter
into this Agreement and that all necessary actions have been taken so as to enable it to enter into
this Agreement.
13. Severability. Should any part of this Agreement be declared by a final decision
by a court or tribunal of competent jurisdiction to be unconstitutional, invalid, or beyond the
authority of either party to enter into or carry out, such decision shall not affect the validity of the
remainder of this Agreement, which shall continue in full force and effect, provided that the
remainder of this Agreement, absent the unexcised portion, can be reasonably interpreted to give
effect to the intentions of the parties.
14. Notice. Any notice required or desired to be given under this Agreement shall be
in writing and shall be personally served or, in lieu of personal service, may be given by (i)
depositing such notice in the United States mail, registered or certified, return receipt requested,
postage prepaid, addressed to a party at its address set forth in Exhibit A; (ii) transmitting such
notice by means of Federal Express or similar overnight commercial courier ("Courier"), postage
paid and addressed to the other at its street address set forth below; (iii) transmitting the same by
facsimile, in which case notice shall be deemed delivered upon confirmation of receipt by the
sending facsimile machine's acknowledgment of such with date and time printout; or (iv) by
personal delivery. Any notice given by Courier shall be deemed given on the date shown on the
receipt for acceptance or rejection of the notice. Either party may, by written notice, change the
address to which notices addressed to it shall thereafter be sent.
15. Miscellaneous. Except to the extent that it provides a part of the definition of the
term used herein, the captions used in this Agreement are for convenience only and shall not be
considered in the construction of interpretation of any provision hereof, nor taken as a correct or
complete segregation of the several units of materials and labor.
Capitalized terms refer to the definition provide with its first usage in the Agreement.
When the context of this Agreement requires, the neuter gender includes the masculine,
the feminine, a partnership or corporation, trust or joint venture, and the singular includes the
plural.
The terms "shall", "will", "must" and "agree" are mandatory. The term "may" is
permissive.
The waiver by either party of a breach by the other of any provision of this Agreement
shall not constitute a continuing waiver or a waiver of any subsequent breach of either the same
or a different provision of this Agreement.
When a party is required to do something by this Agreement, it shall do so at its sole cost
and expense without right to reimbursement from the other party unless specific provision is
made otherwise.
Where any party is obligated not to perform any act, such party is also obligated to
restrain any others within its control from performing such act, including its agents, invitees;
contractors, subcontractors and employees.
IN WITNESS WHEREOF, Consultant and City execute this Agreement.
CITY OF BURLINGAME
501 Primrose Road
Burlingame, CA 94010
Lisa Goldman
City Manager
Date:
CONSULTANT
Name Public Financial Manaeement, Inc.
Address 50 California Street, Suite 2300
San Francisco, CA 94111
By:
Name QSarah Hollenbeck
Title Mana inDirector
Date: �2 rpt,
Federal Employer ID Number:
Mary Ellen Kearney License Number:
City Clerk Expiration Date:
Approved as to form:
Kathleen Kane
City Attorney
Attachments:
Exhibit A Scope of Services
Exhibit B City insurance Provisions