§ 126.313. Financial related services.

(a)

Pursuant to Chapter 110 Part 2 of the Jacksonville Ordinance Code, as the same may be revised from time to time, all deposits and investments of City capital, including the General Employee Pension Fund, and other applicable financially related services, including, without limitation, credit enhancement, liquidity support, investment managers, financial and/or investment advisors, issuing, paying and/or tender agents, rating agencies, printing of preliminary and/or final official statements, offering memorandum, bonds, notes and/or commercial paper, and similar services that are offered in a limited market, that involve complex negotiations, or that require a limited time frame as necessary for a financial transaction involving bonds, notes, commercial paper or other similar transactions, may be procured in accordance with the City's Pension and Treasury Procurement Procedures. Notwithstanding the requirements of the City's Pension and Treasury Procurement Procedures, the Director of Finance and Administration and the City Treasurer, in cooperation with the Chief, shall develop written criteria and procedures necessary to evaluate and procure financially related services under this Section 126.313, which shall include, without limitation, such factors as historic investment performance, fee structure, professional staff, size of firm, research capabilities, area of specialization, strategic fit with the overall financial service goals and objectives. Any procurement under this Section shall include as much competition as practically possible under the circumstances, and shall include procedures necessary to ensure compliance with the requirement to procure the highest quality in financial services at the greatest economic value to the City.

(b)

Any public notice or advertisement required under procurement procedures developed in accordance with this Section 126.313, as well as responses thereto, shall be forwarded to the Division within one business day. Once an award is made pursuant to such procurement procedures, the Director of Finance and Administration shall notify the Chief within one business day, and the Chief shall include the awarding of the service on the next PSEC agenda for information purposes. When the procedures developed in accordance with this Section 126.313 are used for awards that are not time-sensitive, the Chief shall be notified prior to public notice or advertisement for solicitations, and the Chief shall place the public notice or advertisement on the PSEC agenda for informational purposes prior to solicitation or advertisement being made. The advanced notification requirement set forth in the preceding sentence shall not apply to time-sensitive bond, investment, cash, and other such related services as set forth in the written procedures developed in accordance with this Section 126.313. The notifications set forth in this subsection (b) shall not create the requirement for any notices or advertisements not otherwise required by this Chapter 126.

(Ord. 2004-602-E, § 4; Ord. 2016-140-E , § 16; Ord. 2018-270-E , § 2)

Editor's note

Ordinance 2007-839-E, § 18, authorized updated department/division names pursuant to reorganization.