Justification for Utilizing a Piggyback/Cooperative Contract Piggyback or Lead Agency: City of Laguna Beach
Contract No./Description: Investment Management and Advisory Services Vendor(s) Name(s): Meeder Public Funds
Per Chapter 2.52 of the Municipal Code of the City of Richmond, we have reviewed and completed due diligence on the aforementioned piggyback/cooperative contract. As part of the due diligence review, we have confirmed that the contract complies with our procurement rules and practices. We have further confirmed that all purchases will comply with the terms and prices in the contract. It has been determined that it is in the best interests of the City to utilize this contract for the reasons cited below:
Item Issue Comments
1 Is there a Piggyback Purchase Agreement allowing use of the Yes contract? If "Yes", , please attach to this form.
2. Are there local suppliers or contractors who could provide the No product or service at competitive rates?
3. A copy of the solicitation has been obtained from the Yes originating agency and reviewed for compliance with the City's purchasing ordinance. Please attach to this form.
4. A written documentation has been made of a thorough Yes investigation of the current market and determination that the originating agency's' solicitation is the most advantageous
5. Does the cooperative contract provide the most advantageous Yes, due to economic uncertainties solution? Why? the timing of a full RFP can take
Factors may include advantageous terms, conditions, prices, months to execute which can result quality, performance, timing, experience & ability to perform in lost investment opportunities. etc.
6. The specifications of the item or service required by the City Yes are not materially different from those originally specified in the originating agency's solicitation
7. The price of the purchase is lower than that estimated for Yes the purchase if made directly by the City pursuant to the purchasing ordinance
8. The price of the purchase is within fifteen percent (15%) or Yes $2,500 of the originating agency's solicitation
9. The contract resulting from the original solicitation is Yes current or the solicitation is within thirty-six (36) months from the date of the City's order, or written justification is provided justifying use of an older solicitation
5/9/25 Jerry Gurule
Signature Date Requisitioner Name
Signature Date Department Head Name
5/9/25 Andrea Miller
Signature Date Director of Finance Name