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#16-6684 (PFM Asset Management) AGREEMENT 16-6684 for Arbitrage Rebate THIS AGREEMENT, made and entered into on this,2644"1 day of QUI-obex 2016, by and between PFM Asset Management, authorized to do business in the State of Florida, whose business address is One Keystone Plaza, Suite 300, N. Front & Market Streets, Harrisburg, PA 17101, (the "Consultant") and Collier County, a political subdivision of the State of Florida, (the "County"): WITNESSETH: 1. AGREEMENT TERM. The Agreement shall be for a three (3) year period, commencing on the Date of Board award, and terminating three (3) years from that date or until all outstanding Purchase Orders issued prior to the expiration of the Agreement period have been completed or terminated. The services will commence upon the issuance of a Purchase Order. The County may, at its discretion and with the consent of the Contractor, renew the Agreement under all of the terms and conditions contained in this Agreement for two (2) additional one (1) year periods. The County shall give the Contractor written notice of the County's intention to renew the Agreement term prior to the end of the Agreement term then in effect. 2. STATEMENT OF WORK. The Contractor shall provide Arbitrage Rebate Requirement services in accordance with the terms and conditions of RFP #16-6684 and Exhibit A — Scope of Services and the Contractor's proposal referred to herein and made an integral part of this Agreement. This Agreement contains the entire understanding between the parties and any modifications to this Agreement shall be mutually agreed upon in writing by the Parties, in compliance with the County's Procurement Ordinance, as amended, and Procurement Procedures in effect at the time such services are authorized. 3. THE AGREEMENT SUM. The County shall pay the Contractor for the performance of this Agreement based on the prices set forth in Exhibit B Fee Schedule. Payment will be made upon receipt of a proper invoice and upon approval by the Project Manager or his designee, and in compliance with Chapter 218, Fla. Stats., otherwise known as the "Local Government Prompt Payment Act." 3.1 Price Methodology: Time and Materials: the County agrees to pay the contractor for the amount of labor time spent by the contractor's employees and subcontractors to perform the work (number of hours times hourly rate), and for materials and equipment used in the project (cost of materials plus the contractor's mark up). This methodology is generally used in Page 1 of 12 #16-6684"Arbitrage Rebate" projects in which it is not possible to accurately estimate the size of the project, or when it is expected that the project requirements would most likely change. As a general business practice, these contracts include back-up documentation of costs; invoices would include number of hours worked and billing rate by position (and not company (or subcontractor) timekeeping or payroll records), material or equipment invoices, and other reimbursable documentation for the project. Unit Price: the County agrees to pay a firm total fixed price (inclusive of all costs, including labor, materials, equipment, overhead, etc.) for a repetitive product or service delivered (i.e. installation price per ton, delivery price per package or carton, etc.). The invoice must identify the unit price and the number of units received (no contractor inventory or cost verification. Any County agency may purchase services under this Agreement, provided sufficient funds are included in their budget(s). 3.2 Payments will be made for services furnished, delivered, and accepted, upon receipt and approval of invoices submitted on the date of services or within six (6) months after completion of the Agreement. Any untimely submission of invoices beyond the specified deadline period is subject to non-payment under the legal doctrine of "laches" as untimely submitted. Time shall be deemed of the essence with respect to the timely submission of invoices under this Agreement. 3.4 Travel and Reimbursable Expenses. Travel and Reimbursable Expenses shall not exceed two thousand five hundred dollars ($2,500.00) unless approved in advance in writing by the County. Travel expenses shall be reimbursed as per Section 112.061 Fla. Stats. Any trips within Collier and Lee Counties are expressly excluded. Reimbursements shall be at the following rates: Mileage $0.445 per mile Breakfast $6.00 Lunch $11.00 Dinner $19.00 Airfare Actual ticket cost limited to tourist or coach class fare Rental car Actual rental cost limited to compact or standard-size vehicles Lodging Actual cost of lodging at single occupancy rate with a cap of no more than $150.00 per night Parking Actual cost of parking Taxi or Airport Actual cost of either taxi or airport Limousine limousine Page 2 of 12 #16-6684"Arbitrage Rebate" 0 Reimbursable items other than travel expenses shall be limited to the following: telephone long-distance charges, fax charges, photocopying charges and postage. Reimbursable items will be paid only after Contractor has provided all receipts. Contractor shall be responsible for all other costs and expenses associated with activities and solicitations undertaken pursuant to this Agreement. 4. SALES TAX. Contractor shall pay all sales, consumer, use and other similar taxes associated with the Work or portions thereof, which are applicable during the performance of the Work. Collier County, Florida as a political subdivision of the State of Florida, is exempt from the payment of Florida sales tax to its vendors under Chapter 212, Florida Statutes, Certificate of Exemption # 85-8015966531C-2. 5. NOTICES. All notices from the County to the Contractor shall be deemed duly served if mailed or faxed to the Contractor at the following Address: PFM Asset Management LLC One Keystone Plaza, Suite 300 North Front & Market Streets Harrisburg, PA 17101 Telephone: 717-232-2723 Facsimile: 717-233-6073 All Notices from the Contractor to the County shall be deemed duly served if mailed or faxed to the County to: Collier County Government Center Procurement Services Division 3327 Tamiami Trail, East Naples, Florida 34112 Attention: Director, Procurement Services Division Telephone: 239-252-8407 Facsimile: 239-252-6480 The Contractor and the County may change the above mailing address at any time upon giving the other party written notification. All notices under this Agreement must be in writing. 6. NO PARTNERSHIP. Nothing herein contained shall create or be construed as creating a partnership between the County and the Contractor or to constitute the Contractor as an agent of the County. 7. PERMITS: LICENSES: TAXES. In compliance with Section 218.80, F.S., all permits necessary for the prosecution of the Work shall be obtained by the Contractor. The County will not be obligated to pay for any permits obtained by Subconsultants. Payment for all such permits issued by the County shall be processed internally by the County. All non-County permits necessary for the prosecution of the Work shall be Page 3 of 12 #16-6684"Arbitrage Rebate" procured and paid for by the Contractor. The Contractor shall also be solely responsible for payment of any and all taxes levied on the Contractor. In addition, the Contractor shall comply with all rules, regulations and laws of Collier County, the State of Florida, or the U. S. Government now in force or hereafter adopted. The Contractor agrees to comply with all laws governing the responsibility of an employer with respect to persons employed by the Contractor. 8. NO IMPROPER USE. The Contractor will not use, nor suffer or permit any person to use in any manner whatsoever, County facilities for any improper, immoral or offensive purpose, or for any purpose in violation of any federal, state, county or municipal ordinance, rule, order or regulation, or of any governmental rule or regulation now in effect or hereafter enacted or adopted. In the event of such violation by the Contractor or if the County or its authorized representative shall deem any conduct on the part of the Contractor to be objectionable or improper, the County shall have the right to suspend the Agreement of the Contractor. Should the Contractor fail to correct any such violation, conduct, or practice to the satisfaction of the County within twenty-four (24) hours after receiving notice of such violation, conduct, or practice, such suspension to continue until the violation is cured. The Contractor further agrees not to commence operation during the suspension period until the violation has been corrected to the satisfaction of the County. 9. TERMINATION. Should the Contractor be found to have failed to perform his services in a manner satisfactory to the County as per this Agreement, the County may terminate said Agreement for cause; further the County may terminate this Agreement for convenience with a thirty (30) day written notice. The County shall be sole judge of non- performance. In the event that the County terminates this Agreement, Contractor's recovery against the County shall be limited to that portion of the Agreement Amount earned through the date of termination. The Contractor shall not be entitled to any other or further recovery against the County, including, but not limited to, any damages or any anticipated profit on portions of the services not performed. 10. NO DISCRIMINATION. The Contractor agrees that there shall be no discrimination as to race, sex, color, creed or national origin. 11. INSURANCE. The Contractor shall provide insurance as follows: A. Commercial General Liability: Coverage shall have minimum limits of $1,000,000 Per Occurrence, $2,000,000 aggregate for Bodily Injury Liability and Property Damage Liability. This shall include Premises and Operations; Independent Contractors; Products and Completed Operations and Contractual Liability. B. Workers' Compensation: Insurance covering all employees meeting Statutory Limits in compliance with the applicable state and federal laws. Page 4of12 #16-6684"Arbitrage Rebate" C The coverage must include Employers' Liability with a minimum limit of $100,000 for each accident. C. Professional Liability: Shall be maintained by the Consultant to ensure its legal liability for claims arising out of the performance of professional services under this Agreement. Consultant waives its right of recovery against County as to any claims under this insurance. Such insurance shall have limits of not less than $1,000,000 each claim and in the aggregate. Special Requirements: Collier County Government shall be listed as the Certificate Holder and included as an Additional Insured on the Comprehensive General Liability Policy. Current, valid insurance policies meeting the requirement herein identified shall be maintained by Consultant during the duration of this Agreement. The Contractor shall provide County with certificates of insurance meeting the required insurance provisions. Renewal certificates shall be sent to the County ten (10) days prior to any expiration date. Coverage afforded under the policies will not be canceled or allowed to expire until the greater of: ten (10) days prior written notice, or in accordance with policy provisions. Consultant shall also notify County, in a like manner, within twenty-four (24) hours after receipt, of any notices of expiration, cancellation, non-renewal or material change in coverage or limits received by Consultant from its insurer, and nothing contained herein shall relieve Consultant of this requirement to provide notice. Consultant shall ensure that all sub-Consultants comply with the same insurance requirements that he is required to meet. 12. INDEMNIFICATION. To the maximum extent permitted by Florida law, the Consultant shall indemnify and hold harmless Collier County, its officers and employees from any and all liabilities, damages, losses and costs, including, but not limited to, reasonable attorneys' fees and paralegals' fees, whether resulting from any claimed breach of this Agreement by Consultant, any statutory or regulatory violations, or from personal injury, property damage, direct or consequential damages, or economic loss, to the extent caused by the negligence, recklessness, or intentionally wrongful conduct of the Consultant or anyone employed or utilized by the Consultant in the performance of this Agreement. This indemnification obligation shall not be construed to negate, abridge or reduce any other rights or remedies which otherwise may be available to an indemnified party or person described in this paragraph. This section does not pertain to any incident arising from the sole negligence of Collier County. 12.1 The duty to defend under this Article 12 is independent and separate from the duty i to indemnify, and the duty to defend exists regardless of any ultimate liability of the Consultant, County and any indemnified party. The duty to defend arises immediately upon presentation of a claim by any party and written notice of such claim being provided to Consultant. Consultant's obligation to indemnify and defend under this Article 12 will Page 5 of 12 #16-6684"Arbitrage Rebate" survive the expiration or earlier termination of this Agreement until it is determined by final judgment that an action against the County or an indemnified party for the matter indemnified hereunder is fully and finally barred by the applicable statute of limitations. 13. AGREEMENT ADMINISTRATION. This Agreement shall be administered on behalf of the County by the Finance Division. 14. CONFLICT OF INTEREST. Contractor represents that it presently has no interest and shall acquire no interest, either direct or indirect, which would conflict in any manner with the performance of services required hereunder. Contractor further represents that no persons having any such interest shall be employed to perform those services. 15. COMPONENT PARTS OF THIS AGREEMENT. This Agreement consists of the following component parts, all of which are as fully a part of the Agreement as if herein set out verbatim: Contractor's Proposal, Insurance Certificate(s), RFP #16- 6684-Arbitrage Rebate Scope of Services and Addendum/Addenda and Exhibit B — Fee Schedule. 16. SUBJECT TO APPROPRIATION. It is further understood and agreed by and between the parties herein that this Agreement is subject to appropriation by the Board of County Commissioners. 17. PROHIBITION OF GIFTS TO COUNTY EMPLOYEES. No organization or individual shall offer or give, either directly or indirectly, any favor, gift, loan, fee, service or other item of valueto any County employee, as set forth in Chapter 112, Part III, Florida Statutes, Collier County Ethics Ordinance No. 2004-05, as amended, and County Administrative Procedure 5311. Violation of this provision may result in one or more of the following consequences: a. Prohibition by the individual, firm, and/or any employee of the firm from contact with County staff for a specified period of time; b. Prohibition by the individual and/or firm from doing business with the County for a specified period of time, including but not limited to: submitting bids, RFP, and/or quotes; and, c. immediate termination of any Agreement held by the individual and/or firm for cause. 18. COMPLIANCE WITH LAWS. By executing and entering into this Agreement, the Contractor is formally acknowledging without exception or stipulation that it agrees to comply, at its own expense, with all federal, state and local laws, codes, statutes, ordinances, rules, regulations and requirements applicable to this Agreement, including but not limited to those dealing with the Immigration Reform and Control Act of 1986 as located at 8 U.S.C. 1324, et seq. and regulations relating thereto, as either may be amended; taxation, workers' compensation, equal employment and safety (including, but not limited to, the Trench Safety Act, Chapter 553, Florida Statutes, and the Florida Public Records Law Chapter 119, including specifically those contractual requirements at F.S. § 119.0701(2)(a)-(b) as stated as follows: Page 6 of 12 #16-6684"Arbitrage Rebate" CAC IF THE CONTRACTOR HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO THE CONTRACTOR'S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS CONTRACT, CONTACT THE CUSTODIAN OF PUBLIC RECORDS AT: Communication and Customer Relations Division 3299 Tamiami Trail East, Suite 102 Naples, FL 34112-5746 Telephone: (239) 252-8383 The Contractor must specifically comply with the Florida Public Records Law to: 1. Keep and maintain public records required by the public agency to perform the service. 2. Upon request from the public agency's custodian of public records, provide the public agency with a copy of the requested records or allow the records to be inspected or copied within a reasonable time at a cost that does not exceed the cost provided in this chapter or as otherwise provided by law. 3. Ensure that public records that are exempt or confidential and exempt from public records disclosure requirements are not disclosed except as authorized by law for the duration of the contract term and following completion of the contract if the Contractor does not transfer the records to the public agency. 4. Upon completion of the contract, transfer, at no cost, to the public agency all public records in possession of the Contractor or keep and maintain public records required by the public agency to perform the service. If the Contractor transfers all public records to the public agency upon completion of the contract, the Contractor shall destroy any duplicate public records that are exempt or confidential and exempt from public records disclosure requirements. If the Contractor keeps and maintains public records upon completion of the contract, the Contractor shall meet all applicable requirements for retaining public records. All records stored electronically must be provided to the public agency, upon request from the public agency's custodian of public records, in a format that is compatible with the information technology systems of the public agency. If Contractor observes that the Contract Documents are at variance therewith, it shall promptly notify the County in writing. Failure by the Contractor to comply with the laws referenced herein shall constitute a breach of this Agreement and the County shall have the discretion to unilaterally terminate this Agreement immediately. 19. OFFER EXTENDED TO OTHER GOVERNMENTAL ENTITIES. Collier County encourages and agrees to the successful proposer extending the pricing, terms and conditions of this solicitation or resultant Agreement to other governmental entities at the discretion of the successful proposer. Page 7 of 12 #16-6684"Arbitrage Rebate" CPS 20. AGREEMENT TERMS. If any portion of this Agreement is held to be void, invalid, or otherwise unenforceable, in whole or in part, the remaining portion of this Agreement shall remain in effect. 21. ADDITIONAL ITEMS/SERVICES. Additional items and/or services may be added to this Agreement in compliance with the Procurement Ordinance, as amended, and Procurement Procedures. 22. DISPUTE RESOLUTION. Prior to the initiation of any action or proceeding permitted by this Agreement to resolve disputes between the parties, the parties shall make a good faith effort to resolve any such disputes by negotiation. The negotiation shall be attended by representatives of Contractor with full decision-making authority and by County's staff person who would make the presentation of any settlement reached during negotiations to County for approval. Failing resolution, and prior to the commencement of depositions in any litigation between the parties arising out of this Agreement, the parties shall attempt to resolve the dispute through Mediation before an agreed-upon Circuit Court Mediator certified by the State of Florida. The mediation shall be attended by representatives of Contractor with full decision-making authority and by County's staff person who would make the presentation of any settlement reached at mediation to County's board for approval. Should either party fail to submit to mediation as, required hereunder, the other party may obtain a court order requiring mediation under section 44.102, Fla. Stat. 23. VENUE. Any suit or action brought by either party to this Agreement against the other party relating to or arising out of this Agreement must be brought in the appropriate federal or state courts in Collier County, Florida, which courts have sole and exclusive jurisdiction on all such matters. 24. AGREEMENT STAFFING. The Consultant's personnel and management to be utilized for this Agreement shall be knowledgeable in their areas of expertise. The County reserves the right to perform investigations as may be deemed necessary to ensure that competent persons will be utilized in the performance of the Agreement. The Consultant shall assign as many people as necessary to complete the required services on a timely basis, and each person assigned shall be available for an amount of time adequate to meet the required service deliver/ dates. 25. ORDER OF PRECEDENCE. In the event of any conflict between or among the terms of any of the Contract Documents, the terms of the Request for Proposal (RFP, the Contractor's Proposal, and/or the County's Board approved Executive Summary, this Agreement shall take precedence. 26. ASSIGNMENT. Contractor shall not assign this Agreement or any part thereof, without the prior consent in writing of the County. Any attempt to assign or otherwise transfer this Agreement, or any part herein, without the County's consent, shall be void. If Contractor does, with approval, assign this Agreement or any part thereof, it shall require that its assignee be bound to it and to assume toward Contractor all of the obligations and responsibilities that Contractor has assumed toward the County. Page 8 of 12 #16-6684"Arbitrage Rebate" CAC? 27. SECURITY. The Contractor is required to comply with County Ordinance 2004-52, as amended. Background checks are valid for five (5) years and the Contractor shall be responsible for all associated costs. If required, Contractor shall be responsible for the costs of providing background checks by the Collier County Facilities Management Division for all employees that shall provide services to the County under this Agreement. This may include, but not be limited to, checking federal, state and local law enforcement records, including a state and FBI fingerprint check, credit reports, education, residence and employment verifications and other related records. Contractor shall be required to maintain records on each employee and make them available to the County for at least four (4) years. All of Contractor's employees and subcontractors must wear Collier County Government Identification badges at all times while performing services on County facilities and properties. Contractor ID badges are valid for one (1) year from the date of issuance and can be renewed each year at no cost to the Contractor during the time period in which their background check is valid, as discussed below. All technicians shall have on their shirts the name of the contractor's business. The Contractor shall immediately notify the Collier County Facilities Management Division via e-mail (DL-FMOPS�7a,colliergov.net) whenever an employee assigned to Collier County separates from their employment. This notification is critical to ensure the continued security of Collier County facilities and systems. Failure to notify within four (4) hours of separation may result in a deduction of$500 per incident. * * * * * Page 9 of 12 #16-6684"Arbitrage Rebate" CAO, IN WITNESS WHEREOF, the parties hereto, have each, respectively, by an authorized person or agent, have executed this Agreement on the date and year first written above. BOARD OF COUNTY COMMISSIONERS ATTEST: COLLIER C UNTY, FLORIDA Dwight E. Brock, Clerk-o#„Courts (--)A ' r Zontz.0 je-6604, By: !% By: A IN/ 'L�,r�� a,X+o`Fv , Chairman Dated: 10`e' 11ik X1.0 Attest at h irman's. -\ signature only. PFM Asset Management LLC 1111 Consultant , Ati 7 ir-t Witne. s / Signa' re , Je nifer L o r I Steve Boyle, Asst. Secretary/Managing Director pe print ', ess ameT TType/print signature and titleT o A .a , G • e on• Witness David DeFilippis TType/print witness nameT pprov as t. o and Legality: c-4 , A-4.4 L 1.1 ounty A • ne 1.• -C" k. e" L......_ 'rint Name Page 10 of 12 ----- #16-6684"Arbitrage Rebate" j Q Exhibit A- Scope of Services Collier County, Florida, has issued long term, tax exempt bond issues to finance a variety of activities, such as the construction and/or acquisition of structures and improvements. These issues, which we understand may be subject to the arbitrage rebate requirements contained in Section 148(f) of the Internal Revenue Code of 1986 (the "Rebate Requirement") are enumerated in the attached Exhibit A. In order for the Consultant to perform the arbitrage rebate calculation the County's Finance Department will provide the Consultant with the daily expenditures and relevant investment income and investment valuation information, further described under Tab II, Business Plan. The County may complete additional financings during the term of the Agreement that may be subject to Rebate Requirements and may be added to the work of the Contractor. For each issue, the Consultant is to: 1. Verify that the issue is subject to the rebate requirement. 2. Calculate the bond yield. 3. Identify and separately account for all "Gross Proceeds" including those requiring allocation analysis due to transferred proceeds and/or commingled funds circumstances. 4. Calculate excess investment earnings. 5. Deliver appropriate documentation required to support calculations. 6. Provide an executive summary identifying the methodology employed, major assumptions, conclusions and any recommendations for changes in the County's record keeping and investment policy. 7. Prepare a matrix to monitor arbitrage compliance. The matrix should identify key items for each bond issue such as the dates of restriction and/or rebate, the applicable arbitrage yield, any exceptions to rebate, penalty elections, calculations and payment dates. 8. Prepare all necessary Internal Revenue Service (IRS) forms for rebate payments or refunds of overpayments. Assist the County as necessary in the event of an IRS audit or inquiry. 9. Consult with County staff as necessary regarding arbitrage-related matters. 10.Advise the County on new or revised arbitrage regulations and interpretations as to their effect on the County's bond issues. 11.Provide assistance and consultation as necessary and retain records and documentation at least six (6) years after the issue's final maturity. Page 11 of 12 #16-6684"Arbitrage Rebate" Exhibit B - Fee Schedule (Applies for all issues, existent or new) Base fee per issue per report $2,275.00 New issue set-up $600.00 Transferred proceeds, per set $500.00 Variable rate issue add-on $550.00 Preparation of filing forms (8038-T, 8038-R) if needed $350.00 Annual reimbursable expenses are Not to Exceed $2,500.00 per year based on actual expenditures. Consultation fees are 80% of standard hourly rates as identified below, there is no charge for questions regarding work performed by PFM Title Hourly Rate Managing Director $525.00 Director $450.00 Senior Managing Consultant $380.00 Consultant(s) $135.00 — $250.00 (Hourly rates depends on level of professional involved) Note: Future year price adjustments will be based on the Consumer Price Index - Urban All Products Index— base period November 2016 Page 12 of 12 #16-6684"Arbitrage Rebate" 0 Client#: 203700 PUBLIFINAN ACORDTM CERTIFICATE OF LIABILITY INSURANCE DATE(MM/DD/YYYY) 10/25/2016 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER.THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND,EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW.THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S),AUTHORIZED REPRESENTATIVE OR PRODUCER,AND THE CERTIFICATE HOLDER. IMPORTANT:If the certificate holder is an ADDITIONAL INSURED,the policy(ies)must be endorsed.If SUBROGATION IS WAIVED,subject to the terms and conditions of the policy,certain policies may require an endorsement.A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). PRODUCER CONTACT Conner Strong&Buckelew PHONE FAX Two Liberty Place (A/C,La,Ext):877-861-3220 (A/C,No): 856-552-6885 ADDRESS: 50 S. 16th Street, Suite 3600 INSURER(S)AFFORDING COVERAGE NAIC# Philadelphia, PA 19102 INSURERA:Great Northern Insurance Compan 20303 INSURED INSURER B,Federal Insurance Company 20281 PFM Asset Management LLC INSURER C: 1735 Market Street — INSURER D: 43rd Floor INSURER E: Philadelphia, PA 19103-2770 INSURER F: COVERAGES CERTIFICATE NUMBER: REVISION NUMBER: THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. INSR TYPE OF INSURANCE ADDL SUBR POLICY EFF POLICY EXP LTR INSR WVD POLICY NUMBER (MM/DD/YYYY) (MM/DD/YYYY) LIMITS A GENERAL LIABILITY X 35363950 11/30/2015 11/30/2016 EACH OCCURRENCE $1,000,000 X COMMERCIAL GENERAL LIABILITY PREMISES TORENTED occurrrence) $1,000,000 CLAIMS-MADE X OCCUR MED EXP(Any one person) $10,000 PERSONAL&ADV INJURY $1,000,000 GENERAL AGGREGATE $2,000,000 GE 'L AGGREGATE LIMIT APPLIES PER: PRODUCTS-COMP/OP AGG $2,000,000 POLICY ECT X LOC $ B AUTOMOBILE LIABILITY 73248555 11/30/2015 11/30/2016 COMBIaccideNEDnt) $SINGLE LIMIT $1,000,000 000>000 (Ea ANY AUTO BODILY INJURY(Per person) $ ALL OWNED SCHEDULED BODILY INJURY(Per accident) $ AUTOS AUTOS NON-OWNED PROPERTY DAMAGE X HIRED AUTOS X AUTOS (Per accident) B UMBRELLA LIAB X OCCUR 79774080 11/30/2015 11/30/2016 EACH OCCURRENCE $10,000,000 X EXCESS LIAB CLAIMS-MADE AGGREGATE $10,000,000 DED RETENTION$ $ A WORKERS COMPENSATION 71739979 01/01/2016 01/01/2017 X WORYTaTMTS EOTH AND EMPLOYERS'LIABILITY Y/N ANY PROPRIETOR/PARTNER/EXECUTIVE E.L.EACH ACCIDENT $1,000,000 OFFICER/MEMBER EXCLUDED? N N/A (Mandatory in NH) E.L.DISEASE-EA EMPLOYEE $1,000,000 If yes,describe under DESCRIPTION OF OPERATIONS below E.L.DISEASE-POLICY LIMIT $1,000,000 DESCRIPTION OF OPERATIONS/LOCATIONS/VEHICLES(Attach ACORD 101,Additional Remarks Schedule,if more space is required) Collier County Board of County Commissioners is included as an additional insured under the captioned Commercial General Liability and Automobile Liability Policies on a primary and non-contributory basis if and to the extent required by written contract. CERTIFICATE HOLDER CANCELLATION Collier County Board of County SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN Commissioners ACCORDANCE WITH THE POLICY PROVISIONS. 3327 Tamiami Trail E Naples, FL 34112 AUTHORIZED REPRESENTATIVE ©1988-2010 ACORD CORPORATION.All rights reserved. ACORD 25(2010/05) 1 of 1 The ACORD name and logo are registered marks of ACORD #S1600281/M1495933 J5C Liability Insurance Endorsement porzypedod November 30, 2015 to November 30,2016 EfecliveDela 11-30-15 Policy Number 3536-39-50 PHI. insured PUBLIC FINANCIAL MANAGEMENT,INC. Name of Company GREAT NORTHERN INSURANCE COMPANY Date Issued 11-20-15 .._.....a .« »_ _.._.t..,..`l:. _ ..�...v.,,�;,••Y- =...-G:.:.�":.�.,�=w ,.4:• ._'s-�.:_,.+.....�-----__.�....._.�. �L L�:3......�:�.....�. +.�.s.4.�1 r7.Y'+' -._.:=J This Endorsement applies to the following tonna: GENERAL LIABILITY <_. ._.. � :z :... _.._.a' - -,: •:g.. <..":-c,.sty_ �... s......yi;, ..-. o Under Who Is An Insured,the following provision is added. Who Is An insured Additional insured- Persons or organizations shown in the Schedule are insureds;but they are losureds only if you are Scheduled Pun obligated pursuant to a contract or agreement to provide them with such insurance as is afforded by Or Onjanization this policy. However,the person or organization is an insured only: • if and then only to the extent the person or organization is described in the Schedule; • to the extent such contract or agreement requires the person or organization to be afforded status as an insurer; • for activities that did not occur,In whole or In pert.before the execution of the contract or scat;and • with respect to deluges,loss,cost or expense for injury or damage to which this insurance appli No person or organization is an insured under this provision: • that is more specifically identified under any other provision of the Who is An insured section(regardless of any limitation applicable thereto). • with respect to any assumption of liability(of another person or organization)by them in contract or agreement.This limitation does not apply to the liability for damages,loss,cost or expense for injury or damage,to which this insurance applies,that the person or organization would have is the absence of such contract or agreement. Liability Insurance AdcllYbnat InierteNfileg Pertft dalton cone Form 8042.2367(Rev. 07) Endormntant Pigs I L iabiilty Endorsement (continued) Under Conditions.the following provision is added to the condition titled Other Insurance. Conditions Other Insurance— if you are obligated,pursuant to a contract or agreement,to provide the person or organization primary Noncontributory shown in the Schedule with primary insurance such as is afforded by this policy,then in such case Insurance—Scheduled this insurance is primary and we will not seek contribution from insurance available to such person Person Or Organization or organization. Schedule Persons or Organizations desribed in the Who Is An Insured section of this contract and that you are obligated pursuant to a written contract or agreement, to provide with primary insurance as is afforded by this policy, but only to the minimum extent required by such contract or agreement. Ali otlm terms and conditions remain unchanged Autnortzed Representative Liabit6yinsurance *Wont eactrAVP 9rt?+garthetion last page floe SO 22367(Rev.547) Endorsements Page 2 Liability Insurance Endorsement Policy Period November 30, 2015 to November 30, 2016 Effective Date November 30, 2015 Policy Number 3536-39-50 PHL Insured PUBLIC FINANCIAL MANAGEMENT,[NC. Name of Company GREAT NORTHERN INSURANCE COMPANY Date Issued November 20, 2015 This Endorsement applies to the following forms: GENERAL LIABILITY Under Conditions,Transfer Or Waiver Of Rights Of Recovery Against Others,the following provision is added: Conditions Transfer Or Waiver Of However,we waive any right of recovery we may have against the designated person or Rights Of Recovery organization shown below because of payments we make for injury or damage arising out of your Against Others ongoing operations or done under a contract with that person or organization and included in the products-completed operations hazard.This waiver applies to the designated person or organization. - li Whit*Insurance Condon—Waiver Of Transfer Of RigtsorRecovery continued Form 80.02.2362(Rev.401) Endorsement Page 1 Giondjtions Transfer Or Waiver Of Designated Person Or Organization Rights Of Recovery Any person or organization where you are required pursuant Against Others to a written contract or agreement to waive rights of (continued) subrogation against such person or organization. All other terms and conditions remain unchanged. Authorized Repiesentethe p " Llab88rinswsnce condition—Waiver Of Transfer Of Rights Of Recovery last Plarr Fenn 80-02-2362(Rev.4-01) Endorsement Page 2 POLICY NUMBER: 17324-85-55 COMMERCIAL AUTO 10.02-0316 Ed.1014 THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. PRIMARY AND NONCONTRIBUTORY LIABILITY INSURANCE This endorsement modifies insurance provided under the following: BUSINESS AUTO COVERAGE FORM With respect to coverage provided by this endorsement, the provisions of the Coverage Form apply Mess modified by the endorsement This endorsement changes the policy effective on the inception date of the policy unless another date is indicated below. Named Insured: PUBLIC FINANCIAL MANAGEMENT.INC. Endorsement Effective Date: 11-30-15 SCHEDULE Names)Of Person(s)Or Organization(s): Persons or Orgaizations described in the Who Is An Insured section of this contract and that you are obligated pursuant to a written contract or agreement, to provide with primary insurance as is afforded by this policy, but only to the minimum extent required by such contract or agreement. Information required to complete this Schedule,if not shown above,will be shown in the Declarations. The following is added to Item 5.-*Other Insurance'of Item B.-'General Conditions'under Section IV-*Business Auto Conditions': e. Regardless of the provisions of Paragraph 5.a. through d. above, far any liability arising out of the ownership,maintenance,use,rental,lease,loan,hire or borrowing by an "insured" of a covered"auto` for which an Insured" is contractually obligated to provide insurance coverage to a client, this Coverage Form will be primary and non-contributory with respect to the Persons or Organizations in the schedule,regardless of the availability or existence of other collectible insurance under any other Coverage Form or policy that applies on a primary basis. 16-02-0316 Ed.1014 POLICY NUMBER )7324-85-55 COMMERCIAL AUTO CA04441310 THIS ENDORSEMENT CHANCES THE POLICY. PLEASE READ it CAREFULLY. WAIVER OF TRANSFER OF RIGHTS OF RECOVERY AGAINST OTHERS TO US (WAIVER OF SUBROGATION) This endorsement modifies Insurance provided under the Wowing: BUSINESS AUTO COVERAGE FORM BUSINESS AUTO PHYSICAL DAMAGE COVERAGE FORM GARAGE COVERAGE FORM MOTOR CARRIER COVERAGE FORM TRUCKERS COVERAGE FORM With respect to coverage provided by this endorsement, the provisions of the Coverage Form apply unless modi- fied odesBed by the endorsement. This endorsement changes the policy elective on the inception date of the policy unless another date is indicated below. Named Insured: Public Financial Management. Inc. Endorsement Effective Dam 11-30-15 SCHEDULE Nanne(s) Of Person(s)Or Orgeaization(s): Any person or organization where you are required pursuant to a written contract or agreement to waive rights of subrogation against such person or organization. Information required to complete this Schedule,if not shown above,will be shown in the Dedaradons. The Ttansi r Of Rigg Of Recovery Against Others To Us Condition does not apply to the person(s) or organization(s) shown in the Schedule, but only to the extent that subrogation is waived prior to the"at- ddent"or the loss" under a contract with that person or organization. CA 0444 0310 C Insurance Services Office,Inc.,2009 Page 1 of 1 0 WORKERS'COMPENSATION AND EMPLOYERS'LIASLH Y INSURANCE POUCY WC 124 1444) WC 00 03 13 WAIVER OF OUR RIGHT TO RECOVER FROM OTHERS ENDORSEMENT This endorsement changes the policy to which it is attached effective on the inception date of the poky unless a different date Is Indicated below. (The tohiowirg•ataddng douse•need be completed only,when dee andamemert le issued subsegrerd to preparatbo of the po19►J This endorsement,effective on 01-0194 at 12:01 A.M.standard time,forms a part of Policy No. 7173-99.79 of the GREA NOR `f INSURANCE COMPANY issued to PUBLIC FINANCIAL MANAGEMENT INC iiite Endorsement No. Aff— g . AP .fliortr '- g-rnmi niiiiiii We have the right to recover our payments horn anyone ft,. for an injury1 I,y this policy. We will not ii enforce our right against the person or organization named in the Schedule. This agreement apples only to the extent that you perform work under a writer)contract that requires you to obtain this agreement from us' This agreement shall not operate directly or indirectly to benefit any one not named In the Schedule. Schedule Any person or organization where you are required pursuant to a written contract or agreement to waive rights of subrogation against such person or organization. WC 124(4.84) WC 00 0313 Copyright 1983 National Caned on Compenealbn Insurance. Page 1 of 1 MEMORANDUM Date: November 2, 2016 To: Camille Shim-Marinos Procurement Services From: Martha Vergara, Deputy Clerk Minutes & Records Department Re: Contract #16-6684 "Arbitrage Rebate" Contractor: PFM Asset Management Attached is an original of the document referenced above, (Item #16J1) approved by the Board of County Commissioners on Tuesday, October 25, 2016. The second original has been held by the Minutes and Records Department as part of the Board's Official Record. If you have any questions, please contact me at 252-7240. Thank you. Attachment