Title
On-Line Investment Market Information and News Services - RFA-91-069 - Amendment (Ordinance S -53226) - Citywide
Description
Request to authorize the City Manager, or his designee, to execute an amendment to continue the term and authorize additional payment authority for the Bloomberg L.P. dba Bloomberg Finance L.P. subscription, an on-line investment market information and news services under City Contract 4223-91 / 120775. Further request an exception to the indemnity and assumption of liability provisions of Phoenix City Code Section 42-18. Further request to authorize the City Controller to disburse all funds related to this item. The additional expenditures will not exceed $767,712.
Report
Summary
This contract provides essential on-line investment market information and news services through Bloomberg L.P. dba Bloomberg Finance L.P. (Bloomberg), which is used in the daily monitoring and management of the City's investment portfolio including access to real-time financial data and market analytics to track bond market activity and facilitate daily investment accounting functions for the Finance Department. The Bloomberg subscription is an investment and security information source for the financial and investment community. All City approved broker-dealers use Bloomberg to facilitate the security bidding process. Due to the required licensing to access Bloomberg financial and securities data, the services are being procured directly from Bloomberg.
This item has been reviewed and approved by the Information Technology Services Department.
Contract Term
Upon execution of the amendment, the contract will renew for a two-year term beginning November 15, 2026, and will continue to renew for successive two-year periods unless terminated by either party prior to the end of the original term or any renewal term. Payment authority will extend through November 14, 2036.
Financial Impact
Upon approval of $767,712 in additional funds, the revised aggregate value of the contract will not exceed $1,625,712. Funds are available in the Finance Department’s budget.
Concurrence/Previous Council Action
The City Council previously reviewed this request:
- RFA 91-69, City Contract 4223-91 (RCA 3422) on January 2, 1991
- RFA 07-032A, Bloomberg, LP, dba Bloomberg Finance LP pay authority (RCA 53763) on November 1, 2006.
- City Contract 120775 (Ordinance S-38215) on October 5, 2011.
- Bloomberg, LP, dba Bloomberg Finance LP pay authority (Ordinance S-43058-L) on December 7, 2016.
- Bloomberg LP, dba Bloomberg Finance LP pay authority (Ordinance S-48015-0023) on October 27, 2021.
- Bloomberg LP, dba Bloomberg Finance LP pay authority (Ordinance S-52178-0033) on August 27, 2025.
Department
Responsible Department
This item is submitted by Assistant City Manager Ginger Spencer and the Finance Department.