HomeMy WebLinkAbout2016-05-31-Meeting Minutes Finance Committee Meeting Commission Chamber - 5/31/2016
ATTENDANCE:
Present: Hons. Guilfoyle, Chairman; Sias, Vice Chairman; Hasan,
member.
Absent: Hons. Hardie Davis, Jr., Mayor; Frantom, member.
FINANCE
1. Consider a request from COFO Properties LLC regarding the waiving
of penalty, interest and other fees from property taxes for COFO Properties
LLC located at 2205 Southgate Drive, Augusta, Ga. (Deferred from the
May 10 Finance Committee)
Item
Action:
Disapproved
Motions
Motion
Type Motion Text Made By Seconded By Motion
Result
Approve
Motion to approve
waiving the penalty
and interest. Mr.
Guilfoyle votes No.
Motion Fails 2-1.
Commissioner
Ben Hasan
Commissioner
Sammie Sias Fails
2. Consider award of RFP #16-128 for Financial Advisor for debt issuance and
economic development project evaluation to Davenport & Company. Authorize
the Mayor and Clerk of Commission to execute contract for professional
services.
Item
Action:
Approved
Motions
Motion
Type Motion Text Made By Seconded By Motion
Result
Approve
Motion to
approve.
Motion Passes
4-0.
Commissioner Ben
Hasan
Commissioner
Sammie Sias Passes
www.augustaga.gov
3. Motion to approve the minutes of the Finance Committee held on May 10, 2016.Item
Action:
Approved
Motions
Motion
Type Motion Text Made By Seconded By Motion
Result
Approve
Motion to
approve.
Motion Passes
4-0.
Commissioner
Sammie Sias
Commissioner Ben
Hasan Passes
4. Establish a subcommittee to analyze, review and report back to the Commission
on establishing a “South Augusta Development Authority” (Requested by
Commissioner Sammie Sias)
Item
Action:
Approved
Motions
Motion
Type Motion Text Made By Seconded By Motion
Result
Approve
Motion to
approve.
Motion Passes
4-0.
Commissioner Ben
Hasan
Commissioner
Sammie Sias Passes
Finance Committee Meeting
5/31/2016 1:20 PM
Attendance 5/31/16
Department:
Presenter:
Caption:
Background:
Analysis:
Financial Impact:
Alternatives:
Recommendation:
Funds are Available
in the Following
Accounts:
REVIEWED AND APPROVED BY:
Finance Committee Meeting
5/31/2016 1:20 PM
COFO Properties LLC
Department:Clerk of Commission
Presenter:
Caption:Consider a request from COFO Properties LLC regarding
the waiving of penalty, interest and other fees from property taxes
for COFO Properties LLC located at 2205 Southgate Drive,
Augusta, Ga. (Deferred from the May 10 Finance Committee)
Background:
Analysis:
Financial Impact:
Alternatives:
Recommendation:
Funds are Available
in the Following
Accounts:
REVIEWED AND APPROVED BY:
Evaluation Criteria PTS
THE PFM GROUP
600 PEACHTREE STREET, STE
3770
ATLANTA, GA 30308
DAVENPORT & COMPANY
ONE JAMES CENTER
901 EAST CARY STREET, SUITE
1100
RICHMOND, VA 23219
FIRST SOUTHWEST
1201 ELM STREET, SUITE 3500
DALLAS, TX 75270
FIRST TRYON ADVISORS
1355 GREENWOOD CLIFF,
SUITE 400
CHARLOTTE, NC 28204
A. Package submitted by the deadline Pass/
Fail Pass Pass Pass Pass
B. Package is complete - included all information required
in RFP 16-128
Pass/
Fail Pass Pass Pass Pass
1. Financial Advisory Methodology 40 37 36 29 31
2. Expertis of Assigned Personnel 30 26 28 22 24
3. Firms Reference and Capacity to Serve 20 19 18 15 14
Total 90 82 81 67 69
5. Perposed Fee (sent in a separate sealed
envelope) * Maximum Fee Used
• Lowest Fee 10 points
• Second 8 points
• Third 6 points
• Fourth 4 points
• Fifth 2 points
10 10 6 4 8
TOTAL PHASE I 100 92 87 71 77
2 2
Proposer’s Overall Ability to Provide the Services (Total of 100 pts) Second Round Elimination
Cumulative Evaluation Sheet
RFP Item #16-128 Financial Advisory Services for Debt Issuance and
Economic Development Project Evaluation
for Augusta, Georgia - Finance Department
Thursday, March 17, 2016 @ 1:00 p.m.
Cost / Fee Consideration (Total Points 10)
Comments:* Maximum fee utilized pending detail review of the fees for item 5 proposed fee.
Evaluation Committee Comments: During Phase I The PFM Group and Davenport & Co. were both shortlisted and invited to participate in Phase II of the evaluation process. During Phase II of
the evaluation process, each company was ranked on their presentation by the committee members with their number 1 choice receiving a 1.
Submittal & Quality of RFP (MUST PASS FOR CONTINUED CONSIDERATION) First Round Elimination
Cumulative Phase II - Presentations
(Ranking in order of preference - 1 being the number one choice)
VENDOR PRESENTATION - PHASE II
VENDORS Attachment
"B"
E-Verify
#
Addendum
#1-2
SAVE
Form Original 7
Copies
Fee
Proposal
THE PFM GROUP
600 PEACHTREE STREET, STE
3770
ATLANTA, GA 30308
Yes 52252 Yes Yes Yes Yes Yes
DAVENPORT & COMPANY
ONE JAMES CENTER
901 EAST CARY STREET,
SUITE 1100
RICHMOND, VA 23219
Yes 482690 Yes Yes Yes Yes Yes
FIRST SOUTHWEST
1201 ELM STREET, SUITE 3500
DALLAS, TX 75270
Yes 43808 Yes Yes Yes Yes Yes
FIRST TRYON ADVISORS
1355 GREENWOOD CLIFF,
SUITE 400
CHARLOTTE, NC 28204
Yes 384709 Yes Yes Yes Yes Yes
COMER CAPITAL GROUP, LLC
1880 LAKELAND DRIVE
JACKSON, MS 39216
Proposal Opening
RFP Item #16-128 Financial Advisory Services for Debt Issuance
and Economic Development Project Evaluation
for Augusta, Georgia - Finance Department
RFP Due: Friday, February 19, 2016 @ 11:00 a.m.
Total Number Specifications Mailed Out: 32
Total Number Specifications Download (Demandstar): 15
Total Electronic Notifications (Demandstar): 306
Mandatory Pre-Proposal/Telephone Conference Attendees: 5
Total packages submitted: 5
Total Noncompliant: 4
Did not attend the Mandatory Pre-Proposal
Vendor did not respond:
ROCK FLEET FINANCIAL SERVICES / 244 5TH AVENUE, SUITE R254 / NEW YORK, NY 10001
Page 1 of 1
Page 1 of 11
DRAFT AGREEMENT FOR PROFESSIONAL SERVICES
AUGUSTA, GEORGIA
PROJECT NO. 16-128
THIS AGREEMENT made as of this ____day of _____, 20___, (hereinafter called the “execution date”) by
and between AUGUSTA, GEORGIA, a political subdivision of the State of Georgia (hereinafter referred to
as “Augusta”), and Davenport & Company, LLC, a foreign limited liability company organized and existing
under the laws of the State of Virginia, (hereinafter referred to as “Contractor”), shall constitute the terms
and conditions under which the Contractor shall provide Financial Advisory Service for Augusta, Georgia..
WITNESSETH: That for and in consideration of the mutual covenants and agreements
herein set forth, Augusta and the Contractor hereby agree as follows:
ARTICLE I. CONTRACT TERM
As required by O.C.G.A §36-60-13, this Contract shall (i) terminate without further obligation on the part of
Augusta each and every December 31st, as required by O.C.G.A. § 36-60-13, as amended, unless terminated
earlier in accordance with the termination provisions of this Contract; (ii) automatically renew on each
January 1st, unless terminated in accordance with the termination provisions of this Contract; and (iii)
terminate absolutely on May 31, 2019, unless extended by Change Order adopted and approved by the
Augusta, Georgia Governing Authority and the Contractor in accordance with the terms of this Contract.
This Contract may be extended for two (2) one (1) year terms by written agreement.
ARTICLE II. PAYMENT
As full payment for the faithful performance of this Contract, Augusta shall pay the Contractor as defined in
the Contractor’s Cost Proposal, attached hereto as Attachment A, unless changed by written Change Order
in accordance with the terms of this Contract. The term “Change Order” includes the term “amendment”
and shall mean a written order authorizing a change in the Work, and an adjustment in Contract Price to
Contractor or the Contract Term, as adopted and approved by the Contractor and the Augusta Governing
Authority, or the Administrator, if exempted from Governing Authority adoption and approval in
accordance with the express terms of this Contract. The Augusta’s Administrator or his/her designee shall
have authority to approve all change orders to contracts, provided the total change order amount is less than
$20,000.00. If the original contract or purchase order price does not exceed $100,000.00, but the Change
Order will make the total price of the contract exceed $100,000.00, then the change order requires approval
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by official action of the Governing Authority. Change Orders to contracts that did not require official action
of the Governing Authority upon the original execution thereof and which amend the scope of work, term,
time, and/or total cost not exceeding $100,000 may be approved by the Administrator or his/her designees in
the same manner as the original contract. Amounts paid to the Contractor shall comply with and not exceed
Attachment A, the Contractor’s Cost Proposal, consisting of one (1) page attached hereto and incorporated
herein by reference. Payment is to be made no later than thirty (30) days after submittal of undisputed
invoice.
Invoice(s) must be submitted as follows:
A. Original invoice(s) must be submitted to:
AUGUSTA, GEORGIA
ATTN: DIRECTOR
FINANCE DEPARTMENT
535 TELFAIR STREET, SUITE 800
AUGUSTA GA 30909
ARTICLE III. SCOPE OF WORK
The Contractor agrees to provide Financial Advisory Service in accordance with Augusta’s Request for
Proposal (RFP) No. 16-128 for Financial Advisory Services, attached hereto as Appendix I and incorporated
herein by reference, and the Contractor’s response thereto, attached hereto as Appendix II and incorporated
herein by reference. The Contractor’s services shall include all things, personnel, and materials necessary to
accomplish specific projects authorized by Augusta.
ARTICLE IV. GENERAL CONDITIONS
A. Accuracy of Work. The Contractor shall be responsible for the accuracy of the Work and any error
and/or omission made by the Contractor in any phase of the Work under this Agreement.
B. Additional Work. Augusta shall in no way be held liable for any work performed under this section which
has not first been approved in writing by Augusta in the manner required by applicable law and/or the terms
of this Contract. Augusta may at any time order changes within the scope of the Work without invalidating
the Contract upon seven (7) days written notice to the Contractor. The Contractor shall proceed with the
performance of any changes in the Work so ordered by Augusta unless such change entitles the Contractor
to a change in Contract Price, and/or Contract Term, in which event the Contractor shall give Augusta written
notice thereof within fifteen (15) days after the receipt of the ordered change, and the Contractor shall not
execute such changes until it receives an executed Change Order from Augusta. No extra cost or extension
of time shall be allowed unless approved by the Augusta and authorized by execution of a Change Order. The
Page 3 of 11
parties’ execution of any Change Order constitutes a final settlement of all matters relating to the change in
the Work which is the subject of the Change Order. Augusta shall not be liable for payment for any work
performed under this section which has not first been approved in writing by Augusta in the manner required
by applicable law and/or the terms of this Contract.
C. Ownership of Documents. All documents, including drawings, estimates, specifications, and data are
and remain the property of Augusta. The Contractor agrees that Augusta may reuse any and all plans,
specifications, drawings, estimates, or any other data or documents described herein in its sole discretion
without first obtaining permission of the Contractor and without any payment of any monies to the Contractor
therefore. However, any reuse of the documents by Augusta on a different site shall be at its risk and the
Contractor shall have no liability where such documents are reused.
D. Successors and Assigns. The Contractor agrees it shall not sublet, assign, transfer, pledge, convey,
sell, or otherwise dispose of the whole or any part of this Contract or his right, title, or interest therein to any
person, firm, or corporation without the previous written consent of Augusta. If the Augusta consents to
any such assignment or transfer, then the Contractor binds itself, its partners, successors and assigns
to all covenants of this Contract. Nothing contained in this Contract shall create, nor be interpreted to
create privity, or any other relationship whatsoever, between Augusta and any person, or entity or than
Contractor
E. Reviews and Acceptance. Work performed by the Contractor shall be subject to review and
acceptance in stages as required by Augusta. Acceptance shall not relieve the Contractor of its
professional obligation to correct, at his own expense, any errors in the Work.
F. Termination of Agreement. The Contractor understands and agrees that the date of the beginning
of Work, rate of progress, and time for completion of the Work are essential conditions of this Contract.
Augusta may, for its own convenience and at its sole option, without cause and without prejudice to any
other right or remedy of Augusta, elect to terminate the Contract by delivering to the Contractor, at the
address listed in the Notices article of this Contract, a written notice of termination specifying the effective
date of termination. Such notice shall be delivered to Contractor at least thirty (30) days prior to the effective
date of termination. If Contractor’s services are terminated by Augusta, the termination will not affect any
rights or remedies of Augusta then existing or which may thereafter accrue against Contractor or its surety. In
case of termination of this Contract before completion of the Work, Contractor will be paid only for the
portion of the Work satisfactorily performed through the effective date of termination as determined by
Augusta. Neither party shall be entitled to recover lost profits, special, consequential or punitive damages,
attorney’s fees or costs from the other party to this Contract for any reason whatsoever. This Contract shall
not be deemed to provide any third-party with any remedy, claim, right of action, or other right. The parties’
obligations pursuant to this Section shall survive any acceptance of Work, or termination or expiration of
Page 4 of 11
this Contract.
G. Indemnification Agreement. The Contractor shall be responsible from the execution date or from the
time of the beginning of the Work, whichever shall be the earlier, for all injury or damage of any kind resulting
from the Work, to persons or property, including employees and property of Augusta. The Contractor shall
exonerate, indemnify, and save harmless Augusta, its elected officials, officers, employees, agents and
servants, hereinafter collectively referred to in this Section as the “Augusta Indemnitees,” from and against
all claims or actions based upon or arising out of any damage or injury
(including without limitation any injury or death to persons and any damage to property) caused by or
sustained in connection with the performance of this Contract or by conditions created thereby or arising out
of or any way connected with Work performed under this Contract, as well as all expenses incidental to the
defense of any such claims, litigation, and actions. Furthermore, Contractor shall assume and pay for, without
cost to Augusta Indemnitees, the defense of any and all claims, litigation, and actions suffered through
any act or omission of the Contractor, or any Subcontractor, or anyone directly or indirectly employed
by or under the supervision of any of them. Notwithstanding any language or provision in this Contract,
Contractor shall not be required to indemnify any Augusta Indemnitee against claims, actions, or expenses
based upon or arising out of Augusta Indemnitee’s sole negligence. As
between Augusta Indemnitees and the Contractor as the other party, the Contractor shall assume
responsibility and liability for any damage, loss, or injury, including death, of any kind or nature whatever to
person or property, resulting from any kind of claim made by Contractor’s employees, agents, vendors,
Suppliers or Subcontractors caused by or resulting from the performance of Work under this Contract, or
caused by or resulting from any error, omission, or the negligent or intentional act of the Contractor,
vendors, Suppliers, or Subcontractors, or any of their officers, agents, servants, or employees. The
Contractor shall defend, indemnify, and hold harmless Augusta Indemnitees from and against any and all
claims, loss, damage, charge, or expense to which they or any of them may be put or subjected by
reason of any such damage, loss, or injury. The Contractor expressly agrees to provide a full and complete
defense against any claims brought or actions filed against Augusta Indemnitees, where such claim or action
involves, in whole or in part, the subject of the indemnity contained in this Contract, whether such claims or
actions are rightfully or wrongfully brought or filed. Augusta has the sole discretion to
choose the counsel who will provide the defense. No provision of this Contract and nothing herein shall be
construed as creating any individual or personal liability on the part of any elected official, officer,
employee, agent or servant of Augusta, nor shall the Contract be construed as giving any rights or benefits
hereunder to anyone other than the parties to this Contract. The parties’ obligations pursuant to this Section
shall survive any acceptance of Work, or termination or expiration of this Contract.
H. Insurance. Prior to commencing work, Contractor shall, at its sole expense, procure and maintain
Page 5 of 11
insurance of the types and in the amounts described below from insurer(s) authorized to transact business in
the state where the work or operations will be performed by Contractor. Such insurance shall be placed with
admitted insurers that maintain an A.M. Best's rating of not less than “A“ (Excellent) with a Financial Size
Category of VII or better with coverage forms acceptable to Contractor. The insurance described below shall
be maintained uninterrupted for the duration of the project, including any warranty periods, and shall protect
Contractor, and others as required by contract, for liabilities in connection with
work performed by or on behalf of Contractor, its agents, representatives, employees or Contractors.
1) Certificates of Insurance in companies doing business in Georgia and acceptable to the
Augusta covering:
a) Statutory Workers’ Compensation Insurance, or proof that Contractor is not required to provide
such coverage under State law;
b) Professional Liability Insurance on the Contractor’s services in this Agreement with limit of
$1,000,000;
c) Commercial General Liability Insurance covering all operations with combined single limit of
$1,000,000;
d) Comprehensive Automobile Liability Insurance with form coverage for all
owned, non-owned and hired vehicles with combined single limit of $500,000;
e) Umbrella or Excess Insurance is acceptable to meet the minimum limits whenever
there is an insurer licensed to do business in Georgia which is providing at least the first
$100,000 of primary coverage; and
2) Certificates of Insurance must be executed in accordance with the following provisions:
a) Certificates to contain policy number, policy limits, and policy expiration date of all policies
issued in accordance with this Agreement;
b) Certificates to contain the location and operations to which the insurance
applies;
c) Certificates to contain Contractor’s protective coverage for any subcontractor’s operations;
d) Certificates to contain Contractor’s contractual liability insurance coverage;
e) Certificates are to be issued to:
AUGUSTA, GEORIA
PROCURMENT DEPARTMENT
535 TELFAIR STREET, SUITE 605
AUGUSTA GA 30909
3) The Contractor shall be wholly responsible for securing certificates of insurance coverage as set forth
above from all subcontractors who are engaged in this work.
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4) The Contractor agrees to carry statutory Workers’ Compensation Insurance and to have all
subcontractors likewise carry statutory Workers’ Compensation Insurance.
5) Contractor agrees to waive all rights of subrogation and other rights of recovery against the Augusta
and its officers and shall cause each Subcontractor to waive all rights of subrogation for all coverage.
6) Failure of Augusta to demand such certificate or other evidence of full compliance with these
insurance requirements or failure of Augusta to identify a deficiency from evidence provided will not be
construed as a waiver of the Contractor’s obligation to maintain such coverage. Contractor
understands and agrees that the purchase of insurance in no way limits the liability of the Contractor.
7) Certificates shall state that the policy or policies shall not expire, be cancelled or altered
without at least sixty (60) days prior written notice to Augusta. Policies and Certificates of Insurance listing
Augusta and its officers as additional insureds (except for workers’ compensation insurance) shall conform
to all terms and conditions (including coverage of the indemnification and hold harmless agreement)
contained in this Contract.
8) If Augusta shall so request, the Contractor will furnish Augusta for its inspection and approval such
policies of insurance with all endorsements, or confirmed specimens thereof certified by the insurance
company to be true and correct copies. Contractor shall be responsible and have the financial wherewithal
to cover any deductibles or retentions included on the certificate of insurance.
I. Georgia Laws Govern. The laws of the State of Georgia shall govern the construction of this Contract
without regard for conflicts of laws. Should any provision of this Contract require judicial interpretation, it
is agreed that the court interpreting or construing the same shall not apply a presumption that the terms
hereof shall be more strictly construed against one party, by reason of the rule of construction, that a
document is to be construed more strictly against the party who itself or through its agent prepared same; it
being agreed that the agents of all parties have participated in the preparation hereof, and all parties have had
an adequate opportunity to consult with legal counsel. In interpreting this Contract in its entirety, the printed
provisions of this Contract, and any additions written or typed hereon, shall be given equal weight, and there
shall be no inference by operation of law or otherwise; that any provision of this Contract shall be construed
against either party hereto.
J. Venue. This Agreement shall be deemed to have been made and performed in Augusta, Georgia. For
the purposes of venue, all suits or causes of action arising out of this Agreement shall be brought in the
courts of Richmond County, Georgia.
K. Contractor and Subcontractor Evidence of Compliance; Federal Work Authorization.
Pursuant to O.C.G.A. §13-10-91, Augusta cannot enter into a contract for the physical performance of
services unless the Contractor, its Subcontractor(s) and sub-subcontractor(s), as that term is defined by
state law, register and participate in the Federal Work Authorization Program to verify specific
Page 7 of 11
information on all new employees. Contractor certifies that it has complied and will continue to comply
throughout the Contract Term with O.C.G.A. §13-10-91 and any related and applicable Georgia Department
of Labor Rule. Contractor agrees to sign an affidavit evidencing its compliance with O.C.G.A. §13-
10-91. The signed affidavit is attached to this Contract as Attachment B. Contractor agrees that in the
event it employs or contracts with any Subcontractor(s) in connection with this Contract, Contractor
will secure from each Subcontractor an affidavit that certifies the Subcontractor’s current and continuing
compliance with O.C.G.A. §13-10-91 throughout the Contract Term. Any signed Subcontractor
affidavit(s) obtained in connection with this Contract shall be attached hereto as Attachment C.
Each Subcontractor agrees that in the event it employs or contracts with any sub-subcontractor(s),
each Subcontractor will secure from each sub-subcontractor an affidavit that certifies the sub-
subcontractor’s current and continuing compliance with O.C.G.A. §13-10-91 throughout the Contract
Term. Any signed sub-subcontractor affidavit(s) obtained in connection with this Contract shall be attached
hereto as Attachment D.
L. Augusta Representative. Augusta may designate a representative through whom the Contractor
will contact Augusta. In the event of such designation, said representative shall be consulted and his
written recommendation obtained before any request for extra work is presented to the Augusta. Payments to
the Contractor shall be made only upon itemized bill submitted to and approved by said representative.
M. Contractor’s Status. The Contractor will supervise and direct the Work, including the Work of all
Subcontractors. Only persons skilled in the type of work which they are to perform shall be employed. The
Contractor shall, at all times, maintain discipline and good order among his employees, and shall not employ
any unfit person or persons or anyone unskilled in the work assigned him. The relationship between
Augusta and the Contractor shall be that of owner and independent contractor. Other than the
consideration set forth herein, the Contractor, its officers, agents, servants, employees, and any
Subcontractors shall not be entitled to any Augusta employee benefits including, but not limited to social
security, insurance, paid annual leave, sick leave, worker's compensation, free parking or retirement
benefits. All services provided by Contractor shall be by employees of Contractor or its Subcontractors
and subject to supervision by Contractor. No officer or employee of Contractor or any Subcontractor shall
be deemed an officer or employee of Augusta. Personnel policies, tax responsibilities, social security
payments, health insurance, employee benefits and other administrative policies, procedures or requirements
applicable to the Work or services rendered under this Contract shall be those of the Contractor, not
Augusta.
N. Georgia Open Records Act. Contractor will be expected to comply with the applicable provisions
of the Georgia Open Records Act, O.C.G.A. §50-18-70 et seq.
O. Business License. Contractor shall submit a copy of its current, valid business license with this Contract.
Page 8 of 11
If the Contractor If the Contractor is a Georgia corporation, Contractor shall submit a valid county or
city business license. If Contractor is a joint venture, Contractor shall submit valid business licenses for each
member of the joint venture. If the Contractor is not a Georgia corporation, Contractor shall submit aIf the
Contractor is a Georgia corporation, Contractor shall submit a valid county or city
business license. If Contractor is a joint venture, Contractor shall submit valid business licenses for each
member of the joint venture. If the Contractor is not a Georgia corporation, Contractor shall submit a certificate
of authority to transact business in the state of Georgia and a copy of its current, valid business license issued
by its home jurisdiction. If Contractor holds a professional license, then Contractor shall submit a copy of
the valid professional license. Failure to provide the business license, certificate of authority, or
professional license required by this section, may result in the Contract being terminated. Contractor shall
ensure that any insurance, license, permit or certificate submitted in response to Augusta’s RFP or as part
of the Contract shall be current and valid when submitted, and shall remain valid, current and maintained in
good standing for the Contract Term.
P. Prohibition Against Contingent Fees. The Consultant warrants that no person or selling agency has
been employed or retained to solicit or secure this Agreement upon an agreement or understanding for a
commission, percentage, brokerage, or contingent fee, excepting bona fide employees or bona fide
established commercial or selling agencies maintained by Consultant for the purpose of securing business
and that the Consultant has not received any non-Augusta fee related to this Agreement without the prior
written consent of Augusta. For breach or violation of this warranty, Augusta shall have the right to annul
this Agreement without liability or at its discretion to deduct from the Agreement Price of consideration the
full amount of such commission, percentage, brokerage or contingent fee.
Q. Georgia Prompt Payment Act Not Applicable. The terms of this Agreement supersede any and all
provisions of the Georgia Prompt Payment Act.
R. Acknowledgement of Authority. Contractor acknowledges that this contract and any changes to it
by amendment, modification, change order or other similar document may have required or may require
the legislative authorization of the Board of Commissioners and approval of the Mayor. Under Georgia
law, Contractor is deemed to possess knowledge concerning Augusta, Georgia's ability to assume
contractual obligations and the consequences of Contractor's provision of goods or services to Augusta,
Georgia under an unauthorized contract, amendment, modification, change order or other similar document,
including the possibility that the Contractor may be precluded from recovering payment for such
unauthorized goods or services. Accordingly, Contractor agrees that if it provides goods or services to
Augusta, Georgia under a contract that has not received proper legislative authorization or if the Contractor
provides goods or services to Augusta, Georgia in excess of the any contractually authorized goods or
services, as required by Augusta, Georgia's Charter and Code, Augusta, Georgia may withhold payment for
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any unauthorized goods or services provided by Contractor. Contractor assumes all risk of non-payment
for the provision of any unauthorized goods or services to Augusta, Georgia, and it waives all claims to
payment or to other remedies for the provision of any unauthorized goods or services to Augusta, Georgia,
however characterized, including, without limitation, all remedies at law or equity.
S. Sole Agreement. This Contract constitutes the sole contract between Augusta and the Contractor.
The terms, conditions, and requirements of this Contract may not be modified, except by Change Order. No
verbal agreement or conversation with any officer, agent, or employee of Augusta, either before or after the
execution of the Contract, shall affect or modify any of the terms or obligations herein contained. No
representations, oral or written, shall be binding on the parties unless expressly incorporated herein. No
Change Order shall be enforceable unless approved by official action of Augusta as provided by law or in
this Contract.
T. Attachments and Appendices. This Contract includes the following Attachments and
Appendices all of which are incorporated herein by reference: Attachment A, Contractor’s Cost Proposal
Form; Attachment B, Contractor’s Affidavit; Attachment C, Subcontractor’s Affidavit(s); Attachment D,
Sub-subcontractor’s Affidavit(s); Attachment E, Certificate of Corporate Authority or Joint Venture
Certificate; and Attachment F, Executive Order 2014-4, Ethics Rules.
U. Severability. If any provision of this Contract or the application thereof to any person or
circumstance shall to any extent be held invalid, then the remainder of this Contract or the application of
such provision to persons or circumstances, other than those as to which it is held invalid, shall not be
affected thereby, and each provision of this Contract shall be valid and enforced to the fullest extent
permitted by law.
V. Notices. Any notice or consent required to be given by or on behalf of any party hereto to any other
party hereto shall be in writing and shall be sent to Augusta’s Administrator and the Executive Assistant or
to the Contractor or his authorized representative on the work site by (a) registered or certified United States
mail, return receipt requested, postage prepaid, (b) personal delivery, or (c) overnight courier service. All
notices sent to the addresses listed below shall be binding unless said address is changed in writing no less
than fourteen days before such notice is sent. Future changes in address shall be effective upon written
notice being given by the Contractor to Augusta’s Executive Assistant or by Augusta to the Contractor’s
authorized representative via certified first class U.S. mail, return receipt requested. Such notices will be
addressed as follows:
If to Augusta:
ADMINISTRATOR
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AUGUSTA, GEORGIA
535 TELFAIR STREET, SUITE 900
AUGUSTA GA 30901
With a copy to
DIRECTOR OF FINANCE
FINANCE DEPARTMENT
535 TELFAIR STREET, SUITE 800
AUGUSTA GA 30901
With a copy to:
DIRECTOR OF PROCUREMENT
PROCUREMENT DEPARTMENT
535 TELFAIR STREET, SUITE 605
AUGUSTA GA 30901
If to the Contractor:
W. Counterparts. This Contract may be executed in several counterparts, each of which shall be
deemed an original, and all such counterparts together shall constitute one and the same Contract.
X. Controlling Provisions. The Contract for this Project shall govern the Work. If any portion of the
Contract shall be in conflict with any other portion, the various documents comprising the Contract shall
govern in the following order of precedence: Contract, Change Orders or
modifications issued after execution of the Contract; the provisions of Augusta’s RFP; and the Contractor’s
Response thereto.
[SIGNATURES CONTINUE ON NEXT PAGE]
Page 11 of 11
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed in three counterparts, each to be considered as an original by their authorized
representative.
AUGUSTA, GEORGIA DAVENPORT & COMPANY, LLC
By:
Hardie Davis, Jr. By:______________________________
Mayor Its:______________________________
ATTEST: ATTEST:
Lena Bonner
Clerk of Commission
Seal:
APPROVED AS TO SUBSTANCE: APPROVED AS TO FORM:
Department Director Augusta Attorney Signature
Augusta Attorney Name (Typed or
Printed)
Finance Committee Meeting
5/31/2016 1:20 PM
Financial advisor services for debt issuance and economic development project evaluation
Department:Finance
Presenter:Donna Williams
Caption:Consider award of RFP #16-128 for Financial Advisor for debt
issuance and economic development project evaluation to
Davenport & Company. Authorize the Mayor and Clerk of
Commission to execute contract for professional services.
Background:A financial advisor represents the issuer in the sale of bonds, and
unlike other professionals involved in a bond sale, has an explicit
fiduciary duty to the issuer per the Dodd-Frank Wall Street
Reform and Consumer Protection Act (Dodd-Frank Act). Augusta
has used the services of Public Finance Management (PFM) as
financial advisor from 2005 to 2015. As a result of 2010 Dodd-
Frank Act, in 2014 the Securities and Exchange Commission
(SEC) and the Municipal Securities Rulemaking Board (MSRB)
implemented new standards regarding Financial Advisors. It was
determined that after the issuance of the Airport revenue bonds in
2015 it would be in Augusta’s best interest to issue an RFP for
Financial Advisor Services.
Analysis:Augusta received four responses to the RFP that were deemed
compliant. After committee review a short list of two firms was
developed. The firm’s PFM and Davenport & Company were
scheduled to make oral presentation. After the presentations,
Davenport & Company was chosen by the committee as the firm
to recommend for appointment as Financial Advisor
Financial Impact:Annual retainer of $20,000. Additional fees will be charged for
services provided with bond issuance.
Alternatives:1. Select other firm 2. Reject all and reissue RFP
Recommendation:Appoint recommended firm.
Funds are Available
in the Following
Accounts:
annual retainer 101-01-5120/5211110. Bond issuance fees will be
paid from bond proceeds.
REVIEWED AND APPROVED BY:
Finance.
Procurement.
Law.
Administrator.
Clerk of Commission
Finance Committee Meeting
5/31/2016 1:20 PM
Minutes
Department:Clerk of Commission
Presenter:
Caption:Motion to approve the minutes of the Finance Committee held on
May 10, 2016.
Background:
Analysis:
Financial Impact:
Alternatives:
Recommendation:
Funds are Available
in the Following
Accounts:
REVIEWED AND APPROVED BY:
Finance Committee Meeting
5/31/2016 1:20 PM
South Augusta Development Authority
Department:
Presenter:Commissioner Sammie Sias
Caption:Establish a subcommittee to analyze, review and report back to the
Commission on establishing a “South Augusta Development
Authority” (Requested by Commissioner Sammie Sias)
Background:There exists in Augusta, (south of Gordon Hwy) a huge void and
shortage of retail and commercial development that is truly needed
for Richmond County residents
Analysis:
Financial Impact:
Alternatives:
Recommendation:Recommendation for formulation of the sub-committee
membership: Commissioner, 4th District Commissioner, 5th
District Commissioner, 6th District Commissioner, 8th District
Commissioner, 9th District Tax Commissioner State Senator (state
senator who represents at least 60% of Richmond County Mayor
of Augusta State House Representative appointed by the local
delegation chairman Downtown Development Authority Director
Funds are Available
in the Following
Accounts:
REVIEWED AND APPROVED BY: