Event Date: 07/01/2020
Start Time: 12:00 am

The City of Menominee is a Home Rule municipality in the Upper Peninsula of the State of
Michigan operating under a Council-Manager form of government. The City received a Bequest
from the Klar Estate in the amount of three million and eight hundred thousand dollars
($3,800,000.00). The Klar Estate Bequest had one term and condition which is fifty percent
(50%) of the Estate is for the City Recreation and fifty percent (50%) for Spies Public Library.
The City is seeking proposals for investment management services to oversee this fund and
maintain it pursuant to the City Charter and the State of Michigan Public Act 20. The purpose of
this Request for Proposals (RFP) is to acquire professional services that will further develop
and improve the investment objectives, standards of prudence, eligible investments and
transactions, internal controls, reporting requirements, and safekeeping and custodial
procedures necessary for the prudent management of the Klar Estate Bequest Fund of the City
of Menominee and Spies Public Library of Menominee, Michigan.
The investment guidelines are within Michigan Public Act 20 1949 (MCL 129.91 – 129.97a.)
and please review the RFP Submittal requirements specifically relating to your experience
managing public funds for municipalities.

Proposals are due on or before July 14, 2020 by 11:00 a.m. Proposals not received at or before
said time will not be considered. Proposals shall be submitted as an Adobe Acrobat PDF file
via email with the subject line titled “INVESTMENT MANAGEMENT PROPOSAL.” Submit to:
kbrofka@menomineemi.gov City Clerk for the City of Menominee 2511 10 th Street
Menominee, Michigan 49858. Delivery confirmation will be provided by email. Proposals
should be organized to match the categories outlined in the RFP. Proposals shall be limited to
fifteen (15) pages. Proposals will be kept confidential until an award is made, subject to law.

Download the document (below) for more information.

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