CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
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Petitioner: |
Jessica Colvin, Chief Financial Officer Ken Diaz, Clark County Treasurer |
Recommendation:
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Approve the Contract with Meeder Public Funds, Inc., for CBE No. 607268-24, for Institutional Fixed Cash and Investment Manager Services, contingent upon submission of the required insurance; and authorize the Chief Financial Officer or her designee to sign the Contract; or take other action as appropriate. (For possible action)
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FISCAL IMPACT:
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Fund #: |
6700.000 |
Fund Name: |
CC Inv. Pool/SIDS Loans |
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Fund Center: |
1030212010 |
Funded PGM/Grant: |
N/A |
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Amount: |
$2,919,000 For the initial term |
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Description: |
Institutional Fixed Cash and Investment Manager Services |
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Additional Comments: |
The total Contract award is estimated in the amount of $6,825,000 should all renewal options be exercised. |
BACKGROUND:
This Contract is for Institutional Fixed Cash and Investment Manager Services with Meeder Public Fund, Inc. (NBE).
A Fiscal Directive No. 6, Competitive Bidding Exception, was approved because of the professional neature of the services and the knowledge of the firm in providing the services for Clark County.
The following are the pertinent provisions of the Contract:
• The term of the Contract is from January 1, 2025, to December 31, 2027, and includes the option to renew for four, one-year periods.
• Includes the County’s option to terminate for cause, convenience or default and suspend the Contract with advanced written notice.
The recommendation of award is in accordance with NRS 332.115.1(b), the competitive bidding process is not required as the services to be performed are professional in nature.
Meeder Public Fund, Inc currently holds a Clark County Business License.