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RESOLUTION QUALIFYING FIRMS TO PROVIDE FINANCIAL ADVISOR SERVICES TO THE COUNTY OF PASSAIC FOR TWELVE (12) CONSECUTIVE MONTHS, PURSUANT TO N.J.S.A. 40A:11-5, ET SEQ. AND RFQ-24-079
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WHEREAS, the County of Passaic (“County”) is a body politic and corporate pursuant to N.J.S.A. 40:18-1 and vested with all rights contained therein; and
WHEREAS, pursuant to N.J.S.A. 40:20-1, the Board of County Commissioners of the County of Passaic (“Board”) is vested with managing the property, finances, and affairs of the County; and
WHEREAS, on July 1, 2024, the Passaic County Purchasing Agent issued RFQ-24-079, Financial Advisor Services (“RFQ-24-079”), seeking qualified respondents to provide financial advisor services to the County; and
WHEREAS, pursuant to N.J.S.A. 19:44A-20.7, the County’s request for qualifications is a fair and open process, specifically, the request for qualifications for financial advisor services is publicly advertised, awarded under a process that provides for public solicitation of qualifications, established the basis of an award and disclosure process documented in writing prior to any solicitation, and is publicly opened and announced when awarded; and
WHEREAS, Acacia Financial Group, Inc., Phoenix Advisors, LLC and NW Financial Group, LLC, submitted responsive proposals, as evidenced by the tally sheet, attached hereto and made part of this Resolution; and
WHEREAS, after review of the proposals received, the Chief Financial Officer is recommending to qualify Acacia Financial Group, Inc., Phoenix Advisors, LLC and NW Financial Group, LLC, to provide financial advisor services to the County for twelve (12) consecutive months, beginning September 10, 2024 and ending September 9, 2025; and
WHEREAS, this matter was discussed at the August 29, 2024 Administration and Finance Committee meeting, and is being recommended to the Board for approval; and
NOW, THEREFORE, LET IT BE RESOLVED, pursuant to N.J.S.A. 40A:11-5(1)(a)(i), the Board of County Commissioners of the County of Passaic qualifies Acacia Financial Group, Inc., Phoenix Advisors, LLC and NW Financial Group, LLC, to provide financial advisor services to the County for twelve (12) consecutive months, commencing September 10, 2024 and expiring September 9, 2025, in accordance with RFQ-24-079.
LET IT BE FURTHE RESOLVED, that the Clerk to the Board, County Counsel, Chief Financial Officer and Director of the Board are authorized to take any action necessary to carry out the purpose of this Resolution.
SF September 10, 2024