BURGESS CHAMBERS & ASSOCIATES, INC. - INVEST. ADVISORS FOR COH DEFERRED. COMP.A CONTRACT AWARD SHEET INSTRCUTIONAL GUIDE TO ASSIST YOU WITH THE INFORMATION CONTACINED HEREIN IS AVAILABLE IN THE
PURCHASING SECTION OF OUR WEBPAGE AT:
www.hialeahfl.gov
CITY OF HIALEAH
CONTRACT AWARD
PURCHASING DEPARTMENT
CITY OF HIALEAH CONTRACT: AGREEMENT FOR INVESTMENT PERFORMANCE MONITORING AND ADVISORY SERVICES
DESCRIPTION: INVESTMENT ADVISORS FOR THE CITY OF HIALEAH DEFERRED COMPENSATION AND DEFINED CONTRIBUTION
COMMITTEEE
CONTRACT PERIOD: 10/01/2022 – 09/30/2023
SECTION #1 – VENDOR AWARD
Name: BURGESS CHAMBERS & ASSOCIATES, INC. Name:
Contact: BURGESS B. CHAMBERS Contact:
Phone: Phone:
Fax: Fax:
E-mail: E-mail:
Name: Name:
Contact: Contact:
Phone: Phone:
Fax: Fax:
E-mail: E-mail:
SECTION #2 – AWARD/BACKGROUND INFORMATION/APPLICABLE ORDINANCES/NOTES
CITY COUNCIL APPROVED ON: 11/08/2022, ITEM D AMENDED AMOUNT:
RESOLUTION NO: INSURANCE REQUIREMENTS:
ANNUAL CONTRACT AMOUNT: $62,200.00 PERFORMANCE BOND:
APPLICABLE ORDINANCES:
Notes:
SECTION #3 – REQUESTING DEPARTMENT
CITY OF HIALEAH, DEPARTMENT OF RETIREMENT
Contract Administrator: ELSA JARAMILLLO-VELEZ, ESQ.
Phone: 305-883-8050
SECTION #4 – PROCURING AGENCY
CITY OF HIALEAH, DEPARTMENT OF RETIREMENT
Contract Administrator: ELSA JARAMILLLO-VELEZ, ESQ.
Phone: 305-883-8050
Prepared by: MARILIN GUTIERREZ
r
ITEM# D ---
NOV 0 8 2022
COUNCIL AGENDA ITEM RE UEST FOR
supporting documents are due the Monday of the week prior to the City Council Mee
Date of Request: 10/12/2022
Requesting City Department : Retirement
Requested Council Meeting
Date:
Action Requested from the
City Council :
Scope of service(s) or
product(s):
V e ndor:
Exp e nditure Amount:
D
D
D
D
D
D
11/8/2022
Issue a purchase order
Increase a purchase order
Award a bid
D Bid No.
Rej ect a bid
D Bid No .
Special Ev ents Permit
Street Closure
Other:
Inves tm ent Advisor s
Burgess Chambers & Associates, In c.
Olo-.
$62,2 00.00
Funding Source (i.e ., account
funding the expenditure):
Purchasing Process:
001-4210-513310-Professional Services
D Competitive Bidding
l:n exc7 tion to competitive bidding applies:
t;/ Professional services in the nature of
consultants, accountants and attorneys
D Sole source provider
D Emergency based on object ive facts
D Credit facilities
D Competitive bidding is not required because the City
is utilizing a bid that has been awarded or under
contract by state, county or other governmental
agencies.
D Title of state, county or oth e r governm e ntal
agencies contract :
D Piggy-back contract expiration
date:
~~~~~~~~~~~~~~~~
D Waive Competitive Bidding
0 Reason(s) it is not advantageous to the City to
utilize competitive bidding :
r
Signatures:
r AGREEMENT FOR INVESTMENT PERFORMANCE MONITORING
AND ADVISORY SERVICES
Effective ~{f!!I) -iz. , 2014, this agreement entered into this ..11:_ day of 6c,·lt1(i./
between BURGESS CHAMBERS AND ASSOCIATES, INC., (hereinafter called
"Monitor"), and CITY OF HIALEAH DEFERRED COMPENSATION AND DEFINED
CONTRIBUTION PLAN (hereinafter called 110wner11
).
WITNESS ETH:
WHEREAS, Monitor is in the business of providing investment performance
monitoring and advisory services; and
WHEREAS, Owner desires Monitor to provide investment petformance
monitoring and advisory services with respect to the Plan;
NOW, THEREFORE, in consideration of the premises and mutual promises herein
contained, the parties agree as follows:
A. SERVICES OF MONITOR
Monitor shall provide the following services to Owner as shown below:
1. Investment Policy and Guideline development and Review.
2. Asset Allocation Consulting.
3. Investment Manag e r Search .
4. Measurement by Objective/Performance Analysis with written
reports and oral presentations to the Board on a Quarterly basis.
5. Monitor and report on all investment managers' compliance with t he
plan documents and inve stme nt policy on a quarterly basis.
6. Monitor and report on execution of trades and transaction costs on a
quarterly basis .
8. RESPONSIBILITIES OF OWNER
Owner agrees to provide or cause its accountants, trustees, investment
managers, and legal advisors to provide information regarding income,
investment performance, and other pertinent matters relating to the Plan as
requested by Monitor from time to time. Owner, through its authorized
representative, also agrees to communicate the Plan's needs and goals to
Monitor and to keep Monitor informed of changes in Owner's situation, needs and
goals. Monitor shall not be required to verify any information obtained from
Owner, Owner's or Plan's accountants, actuaries, trustees, investment managers
and legal advisers and is· expressly authorized to rely thereon.
C. CONFIDENTIALITY
All information and advice furnished by either party to the other, including
their agents and employees, shall be treated as confidential and not
disclosed to third parties except as agreed upon in writing or required by law.
Monitor is herein given absolute authority by Owner to disclose, provide
copies of, and communicate information obtained from Owner or
developed by Monitor to Owner's money manager and Owner's attorney.
D. BASIS OF ADVICE
Owner acknowledges that Monitor obtains information from a wide variety
of publicly available sources and certain private sources. The advice
provided by Monitor to Owner is based upon its analysis of such
information.
E. REPRESENTATIONS OF MONITOR
Monitor hereby represents that:
1. Monitor is not the Owner's money manager nor is Monitor in any
way compensated by nor does Monitor have any affiliation
whatsoever with any Plan money manager; and
2. Monitor acknowledges that it is a fiduciary of the Plan as defined by
the Employee Retirement Income Security Act of 1974.
2
r
F. LEGAL, ACCOUNTING AND ACTUARIAL SERVICES
It is understood and agreed that Monitor and its employees will not render
any legal, accounting, or actuarial advice. Monitor is not engaged in the
business of rendering such services and Owner acknowledges that Monitor
will provide no such services with respect to the Plan .
G. FEES TO MONITOR
In consideration of the routine services rendered by Monitor, Owner shall pay
to the Monitor an annual fee based on the following percentages of the
Fund's assets (at market): 0.07% fee of the Fund's total assets value. Fees
shall be determined and paid quarterly, in arrears .
Fees for non-routine services shall be approved by the Owner in advance of
the service being rendered and shall be paid upon completion of the
services .
H. TERMINATION
Owner shall have the right to termination of this Agreement and full refund of
any fee paid for five (5) business days after the signing of this Agreement.
Owner shall give Monitor written notice of termination . After the initial five (5)
day period, Owner may terminate this Agreement at any time in writing, and
charges for services completed will be prorated based on the total fees as
set forth in paragraph G .
I. REQUIRED DISCLOSURES
Monitor is an investment adviser registered with the Securities and Exchange
Commission under the Investment Advisors Act of 1940. Monitor shall
deliver information providing disclosures regarding the Monitor's background
and business practices along with Part II of Monitor's Form ADV filed with the
3
r S.E.C. Owner acknowledges that it has received the Monitor's most recent
ADV, Part 11. Monitor shall provide a copy of the required disclosure on an
annual basis.
J. MISCELLANEOUS
1. This Agreement shall be applicable only to the services individually
prepared for Owner. It shall not relate to any advice given by any
person or persons not specifically designated by Monitor in writing to
perform such services. Monitor agrees that Monitor is a fiduciary to
the plan in connection with the performance of services rendered
hereunder.
2. Neither party hereto may assign , convey , or otherwise transfer any of
its rights, obligations, or interest herein without the prior express
written consent of the other party.
3. This Agreement represents the complete agreement of the parties
with regard to the subject matter and supersedes any prior
understanding or agreement, oral or written .
4. This Agreement may be amended or revised only by an instrument in
writing signed by Owner and Monitor.
5. The validity of this Agreement and of any of its terms or provisions, as
well as the rights and duties of the parties hereunder, shall be
governed by the laws of the Florida.
6. This Agreement may be executed in several counterparts, each of
which shall be deemed an original.
K. PUBLIC ENTITY CRIMES BILL
Section 287 .133, Florida Statutes , provides that a person or affiliate who
has been placed on the convicted vendor list following a conviction for a
public entity crime may not submit a bid on a contract to provide any goods
or se rvices to a public entity, may not submit a bid on a contract with a
public entity for the construction or repair of a public building or public work ,
may not submit bids on leases of real property to a public entity, may not be
aw ard ed or perform work as a contr actor, suppli er, subcontractor, or
4
r consultant under a contract with any public entity, and may not transact
business with any public entity in excess of the threshold amount provided
in Section 287. 017 , Florida Statues, for CATEGORY 1WO for a period of 36
months from the date of being placed on the convicted vendor list.
IN WITNESS WHEREOF, the Owner has signed duplicates hereof, and BURGESS
CHAMBERS AND ASSOCIATES, INC has caused its corporate name to be signed to said
duplicates by its proper officers thereunto duly authorized on the day and in the year first
above written.
ATIEST:
~-jjf!Ji~~ ·~=~~~----
Acting City Clerk
BURGESS CHAMBERS AND
.ASSOCIATES, INC.
/ · ----/ Ocrv B .£12 2 2.... 1 2 e:
. Chambers, President
City of Hialeah Deferred Compensation
Plan
5
r consultant under a contract with any public entity, and may not transact
business with any public entity in excess of the threshold amount provided
in Section 287.017, Florida Statues, for CATEGORY TWO for a period of 36
months from the date of being placed on the convicted vendor list.
IN WITNESS WHEREOF, the Owner has signed duplicates hereof, and BURGESS
CHAMBERS AND ASSOCIATES, INC has caused its corporate name to be signed to said
duplicates by its proper officers thereunto duly authorized on the day and in the year first
above written.
ATIEST:
~ 'Ta~~-----
Acting City Clerk
BURGESS CHAMBERS AND
.ASSOCIATES, INC.
Burgess B. Chambers , President
City of Hialeah Deferred Compensation
Plan
fY~ (;/(} '-''ty of Hialeah
5
I· <JrS :~:~R .. , ... D
i
i ·'
j
,1
.~ ~·~~ ~,;~~-.~.dpj~u"4".,.1~"~~bta~11
'
j
BJ:'~~
···_!~ .. -· .. -·
tiftfi'.i11ii'llf"""'-"' ~·"'''1Rl11>'iM j.,il.'f,Tf, o.w-nui~ ~~.. ~v
. ,,-/
. -. . ·--r S:y,: /.. ,,..,,, .. ~ , . . . ..~.1 / '-~1o;fui"li~·~-r-, i .
I
10/12/22, 4 :03 PM D etail by Entity Name
Der:iartm ent o f State I Division o f CorRorations I Sea rch Records I Sea rc h by En tity Name I
Detail by Entity Name
Florida Profit Corporation
BURGESS CHAMBERS AND ASSOCIATES , INC .
Filing Information
Document Number
FEl/EIN Number
Date Filed
Effective Date
State
Status
Princii:ial Address
315 E Robinson Street
STE 690
Orlando , FL 32801
Cha ng ed : 02/13/201 3
Mailing Address
315 E. Robi ns o n St
Suite 690
Orl a nd o , FL 32 801
Cha nged : 02/13/20 13
K19654
59-2 87861 9
03/28/1988
03/2 4/1988
FL
ACTIVE
Registered Agent Name & Address
CHAMBERS , BURG ESS
3 15 E Robin son St
SUI TE 690
Orl ando , FL 328 01
Nam e Changed : 0 3/15/1 993
Address Change d : 02/1 3/20 13
Office r/Director Deta il
Na me & Address
Titl e Pres ident
C HAM BERS , BURGE SS
DIV I S I O N OF CO RPORATI ON S
h ttp s ://sea rc h . su nb iz. org/I nqu iry/Corpor a tio n S ea rc h/Sea rc h Res ultDe ta ii? i nqui rytype= E n tity N ame&direct ion Typ e = In it ia l&sea r chNa m eOrd e r=B U RGE S . . 1 /3
10/12/22, 4 :03 PM Detail by Entity Name
02/07/2012 --ANNUAL REPORT V iew image in PDF fo rmat
03/02/2011 --ANNUAL REPORT View image in PDF form at
01 /26/2010 --ANNUAL REPORT View image in PDF forma t
r 02/0512009 --ANNUAL REPORT
·-·-------1
View image in PDF format
01 /14/2008 --ANNUAL RE PORT V iew image in PDF format
-------------~
01 /29 /2 007 --ANNUAL REPOR T View image in PDF format
02/27/2006 --ANNUAL REPORT V iew image in PDF format
04/14/2005 --ANNUAL REPORT Vi ew image in PDF format
02/06/2004 --ANNUAL REPORT V iew image in PD F format
02/0512003 --ANNUAL REPORT V iew image in PDF format
08/21 /2002 --ANNUAL REP O RT V iew image in PDF format
06/07/2001 --ANNUAL REPORT View image in PDF format
0312812000 --ANNUA L REPORT V iew image in PDF format
0511711999 --ANNUAL REPORT View image in PDF fo rmat
04/14/1998 --ANNUAL REPORT V iew image in PD F format
04101 /1997 --ANNUAL REPORT V iew image in PDF forma t
04/24 /1996 --ANNUAL REP ORT View image in PDF format
0212711995 --ANNUAL REPORT V ie w image in PDF fo rmat
https:/l sea rc h .s unbiz.org/l nqui ry/Corporati o nSea rc h/Search Resultoetai l?inquirytype =E ntityNa m e &dir ecti o nTy pe=l nitial&sear c hNa m eOrder=B U RGES .. 313
001 General Fund
Account IPercent
001.4210.513310 0 %
' \
PROFESSIONAL SERVICES
Total for (2) Operating Expenses
Total expenses 4210 (Fund 001)
RE
Total !Expenses for Fund 001
95,000.00
95,000.00
95,000.00
95,000.00
95,000.00
95,000.00
95,000.00
95,000.00
Fiscal Year: 2023
Ex ended
0.00
Fund Totals
001
General Fund $95,000.00 $0.00
Revenue/Expenses Balance: $0.00
00 I General Fund
Tri a l Ba lan ce -Expenses
Trial Balance -
Encumbered Balance Last Date
0.00 95 ,000.00 10/1 /2022
0.00 95,000.00
0.00 95,000.00
0.00 95,000.00 E~enses
$0.00 $95,000.00
Pr int ed: I 0/3 l/2022 Page: 2