Title: P1 Extension of RFP 02C-001SN for Underwriters

Recommendation:

I recommend approval of the extension of RFP 02C-001SN for Underwriters and authorize the Superintendent and Board Chairman to sign all necessary documents.

Description:

P1  Approve the extension of RFP 02C-001SN for Underwriters for the period December 13, 2005, through March 12, 2006 (90 days). 

·      Term Contract No. 02C-001S-RFP was awarded by Board action on July 18, 2005, AG Edwards & Son, Inc., Jackson Securities, Paine Webber, Inc., Raymond James & Associates, Salomon Smith Barney, William Hough & Co., for three years from December 13, 2001  through December 12, 2004, with the option to renew for two addi­tional one-year periods.

·     The first option to renew was exercised on December 8, 2004, for the period December 13, 2004 through December 12, 2005.

·      Per Special Condition 5.1, Term of Contract, this contract may be extended for 90 days.  This contract will be extended for 90 days in or­der to de­velop new spec­ifications and be resolicited.  This is a fixed fee contract for Underwriters Services. These companies agreed to honor this condition when they signed their original proposal.

·      A. G. Edwards, Bear Stearns & Company Inc., Citigroup Inc., (formerly Salomon Smith Barney), Jackson Securities, RBC Dain Rauscher, (formerly William R. Hough & Co.), UBS Financial Services, (formerly Paine Webber), will honor all terms, con­di­tions, pricing of existing contract for the extension period.   

·      The contract period for the 90 day extension is December 13, 2005, through March 12, 2006.

Financial Impact:
The previously approved estimated expenditure is sufficient to cover this extension.  No additional funds are requested.

For Additional Information, contact:

Joseph M. Moore (moorej@palmbeach.k12.fl.us)

Leanne Evans

Attachments (list):
RFP 02C-001SN Tabulation.pdf
RFP 02C-001SN Document.pdf
RFP 02C-001SN Vendor List.pdf
Q&AP1.doc