Emphasys Computer Solution, Incn
emphasys
S O F T W A R E
PROPOSAL FOR
City of La Quinta
Request for Proposal
Investment Reporting and Analytics Software
March 20, 2023
Treasury
SymPro Management
Software
SODOLIN"TSrn Pro S
March 20, 2024
Rosemary Hallick
Finance Department
City of La Quinta78495 Calle Tampico
La Quinta, California, 92253
Re: Cover Letter
Dear Ms. Hallick
Emphasys is pleased to submit the enclosed proposal for Investment Reporting and Analytics
Software. This proposal is valid for 90 days from the proposal due date.
Over the past thirty years, the SymPro software solutions have become the standard for the
Government Sector in Investment Management Software. In the State of California, over 100 Public
Sector entities including 45 Cities are using the SymPro Investment System. Our clients include: the
City of Los Angeles, the City of San Jose, the City of Thousand Oaks, the City of Bakersfield, the
City of Pasadena, and the City of Santa Barbara to name a few. Our solutions are public sector
driven. No other vendor in the market can match our experience and knowledge of public sector
processes.
I will be your primary contact throughout the procurement process, and I am authorized to make
representations to you for these purposes. You may reach me in the following ways:
Mailing Address: Office: (510) 584-9015
3675 Mt. Diablo Blvd E-mail: jdemarco@emphasys-software.com
Suite 280
Lafayette, CA 94549
Peter Bakonyvari, General Manager is authorized to contractually obligate the firm.
I look forward to working with you and helping the City meet its treasury management needs.
Sincerely,
Joe DeMarco
Regional Sales Manager
Emphasys Software - SymPro Division
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Firms Background, Qualifications, and Experience, including the following:
(a) Legal name of Company, and if incorporated, the state in which the company is
incorporated and the date of incorporation.
Legal Name: Emphasys Computer Solutions Inc.
Incorporated in the State of Michigan in 1984
(b) If the firm is a subsidiary of a parent company, identify the parent company
Emphasys Software is a wholly owned subsidiary of Constellation Software, Inc. (CSI), a publicly
held entity whose stock is traded on the Toronto Stock Exchange under the symbol CSU. CSI is
headquartered in Toronto, Canada, has offices in North America, Europe, and Australia, and has
over 15,000 employees and a market cap of over $65 Billion. CSI was recently named one of the
top 100 largest software companies in the world.
(c) Taxpayer Identification Number (a W-9 will be required should proposer be selected)
39-2464382
(d) Number of years in business and/or number of years providing the services
described in this RFP
35 years
(e) Resumes of the Project Manager or key personnel who will be responsible for
performance if any agreement results from this RFP
See Section 6
(f) Summarize the firm, its structure and product lines, and the software being offered
Emphasys' SymPro Division is the established leader in meeting the needs of Public Sector
Treasury Managers —a group of users unique in terms of demands for system functionality and
meeting regulatory requirements. Our experience in simplifying the treasury reporting and
accounting process is unmatched in the Treasury community. That's why hundreds of
governmental organizations and agencies trust us with their financial and operational needs.
Organizations of all shapes and sizes rely on our SymPro solution to comprehensively manage
investment, debt, and cash portfolios with increased accuracy and efficiency --leading to data
integrity, standardization, and reliability. The SymPro solution is being used in over 370
installations nationwide with client portfolios ranging from $25 million to over $15 billion in
assets. Our customers include Counties, Cities, Power Agencies, Utilities, Transportation
Agencies, School Districts, and other various public sector entities.
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The SymPro Investment Management System was originally developed to address Public
Agency reporting requirements mandated in 1985. These requirements involved the
management and reporting associated with fixed income securities. In 1990, the company
expanded the feature set of the software to address the analytical and reporting requirements
of Investment managers and cash managers.
SymPro's sole focus and commitment is providing treasury solutions to public sector entities.
100% of our development is geared towards meeting the needs of our public sector clients
Section 2 — Scope of Services
The City of La Quinta has been successfully using the SymPro Investment Management solution for
their investment portfolio tracking, reporting, and accounting needs. The SymPro system helps
manage fixed income investments and liquidity, create daily and monthly reporting, calculates returns
and yields, monitors compliance, exposure risk, and more.
Over the past thirty years, the SymPro software solutions have become the standard for the
Government Sector in Investment Management Software. In the State of California, over 100 Public
Sector entities including 45 Cities are using the SymPro Investment System. Our clients include: the
City of Los Angeles, the City of San Jose, the City of Thousand Oaks, the City of Bakersfield, the City of
Pasadena, and the City of Santa Barbara to name a few. Our solutions are public sector driven. No other
vendor in the market can match our experience and knowledge of public sector processes.
System Details
We are proposing a Microsoft Windows based solution that will run in a network environment utilizing
any current Windows operating system. The solution will be accessible by 3 users concurrently. The
proposed solution includes the following SymPro Investment modules currently implemented at the
City:
Investment System — Fixed Income Module
Financial Service —Import of Market Pricing from Custodial Bank
Fixed Income Module
The Fixed Income Module provides a standard methodology for maintaining investment positions,
reporting on earnings and investment assets, displaying original and updated valuations, and keeping a
schedule of cash flows and maturities. It features on-line calculations of interest transactions by date,
investment yield, yield to maturity, total interest due and amortization of discount and premiums. The
program can manage an unlimited number of portfolios and includes a fund number option that assigns
each investment position to a particular fund, client, or manager. The system produces over 50 standard
reports. Among them is a GASB 31 mark to market report, a GASB 40 interest rate risk report, a GASB 72
report, a Total Return report calculated on a time weighted basis, maturity and interest receivables
reports, numerous investment listing and performance reports, and much more.
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The module also offers enhanced reporting and analytics for performance -oriented finance managers.
This module allows you to monitor price volatility using modified, original, and effective duration. "What -
if" analysis can be performed on full or multiple partial sales and recorded with full cash flow history.
Specific interest periods for floaters and auction rate preferred bonds are available. These bonds may be
redeemed or rolled over to the next period with a new interest rate for each period. All rolling and reverse
repurchase agreement investment types are conducted in this module. Enhanced reporting features
include consolidated reporting by individual fund or a range of funds, batch reporting for your daily or
weekly management reports, and subsidiary performance reporting enabling you to track individual funds
or money managers as well as the total portfolio.
Conclusion
Over the past thirty years, the SymPro software solutions have become the standard for the Government
Sector in investment accounting and reporting. We have over 370 client installations, 100% in the public
sector, in 45 different states. We have the knowledge and experience to continue to provide a software
solution to City that meets your investment reporting, tracking, and accounting needs.
Minimum requirements of the investment management software solution are as follows:
(a) Correctly report on all security types as permitted under California Government Code §53601
Yes, the system provides a standard methodology for maintaining investment positions,
reporting on earnings and investment assets, displaying original and updated valuations, and
keeping a schedule of cash flows and maturities.
(b) Produce a suite of reports necessary for monthly and/or quarterly reporting to the Financial
Advisory Commission and the City Council. Reports should include, at a minimum, the following:
security issuer; purchase date, maturity date, original cost/book value, PAR value, market value,
and yield of each investment; portfolio weighted average yield and maturity; portfolio total
return; and portfolio total earnings. Please specify if reports are customizable and if there are
illustrative tables, charts or graphs included. Provide samples of such reports as part of the
submittal.
All of the requirements above can be met by the SymPro Investment System currently in use
by the City. The system produces over 50 standard reports. Among them is a GASB 31 mark
to market report, a GASB 40 interest rate risk report, a GASB 72 report, a Total Return report
calculated on a time weighted basis, maturity and interest receivables reports, numerous
investment listing and performance reports, and much more.
(c) Calculate interest accruals, premium and discount amortization as needed, interest
revenue received for a specified period and revenue projections for a specified
period (inclusive of interest as well as maturities).
Yes, the system features on-line calculations of interest transactions by date,
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investment yield, yield to maturity, total interest due and amortization of discount
and premiums. The system produces over 50 standard reports. Among them is a
GASB 31 mark to market report, a GASB 40 interest rate risk report, a GASB 72
report, a Total Return report calculated on a time weighted basis, maturity and
interest receivables reports, numerous investment listing and performance
reports, and much more.
(d) Ability to export reporting in formats readable by Microsoft Excel, text files, csv,
and/or Portable Document Formats.
Yes, this is a standard feature
(e) Ability to import reporting from custodial bank to include market pricing and/or interest
received.
The current solution at the City has the ability to import market prices from your custodial bank.
As an option we are proposing the Custodial Download Service. This will allow the City to
automatically import investment transactions from your Custodial Bank for automation of data
entry. This is priced as an option to give the City flexibility.
(f) Specify if software has market pricing functionality built-in, and include source of
pricing, frequency of pricing updates, and whether or not the market pricing
function has additional software, system, or service subscription requirements.
This is available as an option in place of importing market prices from your custodial
bank. It would include once per month market pricing from an outside pricing
service called DATAFEED, which is maintained by ICE Data Services.
Describe the software, its platform and/or its delivery:
(a) Is software desktop/local or cloud -based?
The current solution installed at the City is a Microsoft Windows based solution that will run in a
network environment utilizing any current Windows operating system. As an option, we are
proposing a hosted version. This will give the users of SymPro the ability to access the system
remotely from any browser and eliminate the need for the City's IT department to maintain the
application at the City.
(b) How frequently is the software updated?
We will deploy patches and fixes as needed. We typically deploy an enhancement release
every 12 to 18 months. Your customer service representative will coordinate all updates and
will perform preliminary testing with your sample database before releasing it to the client for
testing and final production readiness.
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(c) Describe the technology or system requirements including servers/memory/storage if
applicable.
SymPro applications can be installed on a network file server or a workstation.
To use SymPro applications you need the following minimum system requirements:
NETWORK FILE SERVER
Microsoft Windows Operating System (2019, 2022)
8GB RAM
4GB available disk space
CLIENT/STAND-ALONE WORKSTATION
Microsoft Windows Operating System (10, 11)
16GB RAM
20GB available disk space
(d) If cloud-based/hosted, please list how many times over the past two years the
system was unavailable to clients. Describe the back-up system in place, including
disaster recovery or business continuity plans. Describe all security measures and
disclose any hosting partners if applicable.
Optional Hosted Solution Details:
Client Connectivity
Clients connect through a browser using HTMLS connectivity. Supported browsers
include Internet Explorer (Depreciated), Chrome, Safari, Firefox, and other
chromium -based browsers.
Authentication And Application Delivery
Kerberos is leveraged to establish a connection to the hosted application.
Kerberos is a widely used and proven ticketing secure authentication method. In
addition to Kerberos, multiple multi -factor authentication (MFA) services can be
utilized for an extra layer of protection. (Available for an additional fee) It
provides high-level data security by integrating Google Authenticator.
Compute
Our products are hosted on Azure Virtual Machines with Premium SSD v2 for all
Operating System Disks and Data Disks, Microsoft Azure guarantees you will have
Virtual Machine Connectivity of at least 99.9%.
Full Disk Encryption is provided by using Azure Disk Encryption which utilizes
BitLocker. Disk Encryption keys and secrets are managed with Azure Key Vault.
Storage
Data is stored in Premium SSD using Local Redundant Service (LRS) where it is
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constantly copied to two additional disks in the local zone. With LRS we can
achieve a 99.99% assurance of data availability.
All disks are backed up daily to Azure Service recovery vaults using Geo
Redundant Services (GRS). Backups are copied synchronously three times within a
primary region. Backups are also copied asynchronously to another secondary
physical location. Backups are kept for 180 days.
Data is encrypted using 256-bit AES encryption. This is FIPS 140-2 compliant and is
one of the strongest block ciphers available.
Disaster Recovery
Workloads for both physical and virtual machines are replicated using Azure's site
recovery. Replication is done from the primary site to a secondary location. When
an outage occurs, there is an option to failover to the secondary location.
Data from both disk and memory is backed up constantly and synchronously to a
secondary location with a maximum latency of 30 seconds. In the event of
hardware failure or datacenter unavailability, return to operations (RTO) within
48 hours of the declaration of the disaster. Either new hardware or an alternative
datacenter would be provided.
Monitoring
Emphasys leverages Azure Monitor. Azure Monitor is a comprehensive solution
that collects and analyzes data. This data can then be used to maximize
performance and availability of resources and identify any problems. Using Log
Analytics, Emphasys can interactively analyze and run log queries to gain various
insights into data.
Azure Sentinel is utilized by Emphasys to provide security information and event
management. It uses built-in Al to quickly analyze large volumes of data and
investigate suspicious activity.
Security
Emphasys uses Network Security Groups that contain security rules to control
inbound and outbound network traffic. Each rule specifies source, destination,
port, and protocol.
Azure Web Application Firewalls are leveraged to protect against common web -
hacking techniques such as SQL injection and security vulnerabilities such as
cross -site scripting. With this we can have complete visibility into the
environment and block malicious attacks.
Emphasys protects applications using Azure's DDoS Protection. Always -on traffic
monitoring monitors traffic 24 hours a day and 7 days a week. Adaptive threat
intelligence detects and mitigates DDoS attacks automatically. End -user
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connections are encrypted with SSL/TLS and FIPS 140-2 compliant encryption. This
practice ensures adherence to data compliance policies such as PCI DSS, HIPPA, and
GDPR.
(e) Does this software assist with accounting journal entries or reconciliations?
Yes, with the optional GL Module & Interface
The SymPro General Ledger Module and Interface is designed to create general ledger journal
entries to reflect investment transaction activity within a portfolio for a specific date range.
The activity includes purchases, sales, maturities, interest received, investment earnings, and
other standard fixed income transactions. Once the journal transactions are created, you can
view the transaction file on screen, print reports based on the file's data, and export the data
to your GL System.
(f) Does the software include audit trail functionality?
Yes, the system has the ability to provide audit trails for data that is entered, edited, and
deleted when the user ID password functionality is deployed.
(g) Describe the historical data the software maintains.
Data in the system can be retained for as long as a user desires. There is an optional
yearly closing process that takes a user through a year- end closing process. During
this process, the data is archived, and only open positions are moved forward to the
next fiscal year. Archived data can be stored for as long as necessary.
(h) Provide an estimated implementation timeline and describe how existing data
will be imported into the software.
Not applicable, the software is already in use at the City.
(i) List resources provided for customer service, technical support and training,
including business hours available and average response time for technology -
related inquiries.
Our process for customer support is characterized by being proactive, not reactive, in our
approach. To that end, the City can expect the following:
1. A primary Customer Service Specialist will be assigned to the City and will meet with
the City on a regular basis. The purpose of this meeting is to ensure Emphasys fully
understands the City's priorities.
2. No charges for phone support, it can be used as much as you want with no
additional charges for calls above average.
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3. Routine courtesy follow-up calls to ensure customer satisfaction.
4. Training Webinars provided at no cost.
5. All software updates and patches.
A client call tracking system is used to log support calls. Calls are listed at (1) general information
inquiries, (2) Issues that do not affect general operations, (3) Issues that are affecting general
operations, (4) Issues that have halted general operations. Issues are given priority depending
on their severity, but clients usually get a response the same day.
Severity
Description
Response
Duration
Level
Time
Time to
1 Business Day
Issues that have halted general
respond is
>90%
Critical
operations, client is down.
1-2
business
hours
Issues that affect general operations
Time to
2-3 Businoess
High
and there is not an acceptable
respond is
Days >90 /o
workaround. Client is operational.
business
a
days
Issues that do not affect general
Time to
1-2 Weeks
Low
operations and there may be an
respond is 1
>80 /o
acceptable workaround.
— 3 business
days
For general information inquiries, responses could take up to 24 hours to receive an answer
depending on call volume. The product support team has initial access to this information, and
they can pass information along to sales, marketing, or corporate management if necessary.
Issues that cannot be solved to a Client's satisfaction will be escalated to the Director of
Operations and ultimately to the General Manager of Emphasys for final resolution.
Section 3 — References
(g) Number of clients using the software, and how many are government agencies
Over 370 Public Sector Clients across the Country. In the State of California, over 100 Public
Sector entities including 45 Cities are using the SymPro Investment System.
(h) Client name, contact person, telephone number, and email address of at least two clients
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City of San Jose, CA
Cesar Blengino
(408) 535-7043
cesar.blengino@sanjoseca.gov
Implemented the SymPro Investment System in August of 2017
City of Thousand Oaks, CA
Jane Alderman
(805) 449-2221
jadelmann@toaks.org
Implemented the SymPro Investment System in October of 2000
Section 4 & 5 — Pricing
Investment Management
■ Fixed Income
■ Multi -User (3 Concurrent Users, Network)
■ Financial Services —Import of Market Prices from Custodial Bank
Annual Maintenance & Support $5,394
(7/1/2024 — 6/30/2025)
Options
Hosting
(3 Named Users)
$3,600/Year
Custodial Download Service $5,000/Year
(Transaction Import from 1 Custodial Bank)
Section 6 — Staffing and Project Organization
The SymPro division on Emphasys Software is based in Lafayette, CA and this is the office that will be
involved in providing the service to the City. Some key personnel the City may interact with include:
S rnPro SoLU�oNSN=
Carlton Young
Director of Professional Services
Carlton Young has worked in the banking and financial
industry for over 25 years, working with public funds
and insurance companies.
Carlton joined SymPro at the beginning of 2000, and
currently oversees the implementation, technical
support and quality assurance groups at SymPro.
He is involved with the regional training of SymPro
users and often works in implementing new users.
Carlton works closely with the programming group to
provide insight from the users' perspective.
Carlton has a BS in Managerial and Agricultural
Economics from the University of California at Davis.
Prior to joining SymPro, Carlton worked at the Bank of
New York in the securities lending group, overseeing
accounts in the Western United States. He has spent his
entire career, working for financial institutions
providing custody administration and securities lending
services. Carlton is very knowledgeable about
securities and the reporting needs of institutional
investors.
Jake Hensley
Implementation Consultant
Jake Hensley has worked in treasury and finance for
over 11 years, serving at local government and higher
education organizations.
At Emphasys, Jake is responsible for product
implementation, support, and training. As a former
SymPro client, Jake is an experienced user of the
product, and is familiar with governmental accounting
and treasury needs. He aims to help clients optimize
the product to increase efficiency of operations and
alignment with best practices.
Jake has a BS in Accounting from Colorado Mesa
University and an MBA from Eastern Washington
Stacy Sebastian
Sr. Product Consultant
Stacy Sebastian has worked in the banking industry for
over 10 years as a product officer in the Treasury
Management group.
Stacy joined SymPro in 2003 and currently is a Treasury
Analyst. She is an integral member of the product support,
quality assurance and client training groups. Stacy works
closely with the clients to address both technical and
functional inquiries. Stacy also works with the Product
Management group to address technical specifications of
the software.
Stacy has a BS in Business Information Systems from
DeVry Institute in Pomona, CA. Prior to joining SymPro;
Stacy worked at Union Bank of California and Wells Fargo
Bank in their Treasury Management group. She has
supported various cash management products for the
medium to large corporations.
Jay McCormick
Sr. Software Engineer
Jay is a Software Engineer with Emphasys Treasury and
Debt Management team. Jay has been with Emphasys
Software since 2009 and working in software development
for over 25 years.
At Emphasys, Jay provides custom programming, interface
development, client technical support and participates in
the design and architecting of solutions.
Jay holds a BS in Computer Science from Iowa State
University and holds certifications in various programming
languages, concepts, and technologies.
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University. He is also a Certified Treasury
Professional (CTP). Prior to joining Emphasys, Jake
was the Treasury Manager for the City of Spokane in
Washington state, where he oversaw the city's cash
management, investment portfolio and pool, and debt.
Section 7— Subcontracting Services
We do not utilize Subcontractors.
Section 8— Disclosures
There have been no alleged significant prior or ongoing agreement failure, any civil or criminal
litigation or investigation pending, which involved the proposer or in which the proposer has
been judged guilty or liable within the last five (5) years.
Section 9— Acknowledgement of Insurance Requirements
If selected, we will provide the minimum insurance coverage and indemnification noted in
Exhibits E and F, respectively, of the City's Agreement for Contract Services.
Exceptions to Agreement for Contract Services
The following is intended to serve as a non-exclusive list of the provisions in Attachment 1- Agreement
for Contract Services we would like amended. If awarded the contract under the RFP, we would expect
the ability to negotiate the terms of the terms and conditions. The below is a summary of the provisions
that are of specific concern at this time:
Attachment 1- Agreement for Contract Services:
• Paragraph 1,2,4,6,7 and 8 of Services of Contracting Party
• Paragraph 1,2 and 3 of Compensation
• Paragraph 1,2,3 and 4 of Performance Schedule
• Paragraph 2,3 and 4 of Coordination of Work
• Insurance
• Indemnification
• Records and Reports
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• Paragraphs 2,3,7, 8 and 9 of Enforcement of Agreement
• City Officer and Employees; Nondiscrimination
• Paragraph 8 of Miscellaneous Provisions
• Exhibit E- Insurance Requirements
• Exhibit F- Indemnification
In addition, we would expect the ability to add provisions related to licensing terms and restrictions,
limitation of liability, and IP ownership rights.
CAL*0P-NL
ATTACHMENT 2
INSURANCE REQUIREMENTS ACKNOWLEDGEMENT
Must be executed by proposer and submitted with the proposal
I, Joe DeMarco (name) hereby acknowledge and confirm that
Emphases Computer Solutions, Inc. (name of company) has reviewed
the City's indemnification and minimum insurance requirements as listed in Exhibits E and
F of the City's Agreement for Contract Services (Attachment 1); and declare that insurance
certificates and endorsements verifying compliance will be provided if an agreement is awarded.
I am a Regional Sales Manager. of Emphases Computer Solutions, Inc., (Title)
(Company)
Commercial General Liability (at least as broad as ISO CG 0001)
$1,000,000 (per occurrence); $2,000,000 (general aggregate)
Must include the following endorsements:
General Liability Additional Insured
General Liability Primary and Noncontributory
Commercial Auto Liability (at least as broad as ISO CA 0001)
$1,000,000 (per accident)
Personal Auto Declaration Page if applicable
Errors and Omissions Liability $1,000,000 (per claim and aggregate)
Worker's Compensation (per statutory requirements)
Must include the following endorsements:
Worker's Compensation Waiver of Subrogation
Worker's Compensation Declaration of Sole Proprietor if applicable
44(V
1. 11.3PUH 111
ATTACHMENT 3
NON -COLLUSION AFFIDAVIT FORM
Must be executed by proposer and submitted with the proposal
I, Joe DeMarco (name) hereby declare as follows:
I am a Regional Sales Manager of Emphases Computer Solutions, Inc., (Title)
(Company)
the party making the foregoing proposal, that the proposal is not made in the interest of, or on behalf
of, any undisclosed person, partnership, company, association, organization, or corporation; that the
proposal is genuine and not collusive or sham; that the proposer has not directly or indirectly induced
or solicited any other proposer to put in a false or sham proposal, and has not directly or indirectly
colluded, conspired, connived, or agreed with any proposer or anyone else to put in a sham proposal,
or that anyone shall refrain from proposing; that the proposer has not in any manner, directly or
indirectly, sought by agreement, communication, or conference with anyone to fix the proposal price of
the proposer or any other proposer, or to fix any overhead, profit, or cost element of the proposal price,
or of that of any other proposer, or to secure any advantage against the public body awarding the
agreement of anyone interested in the proposed agreement; that all statements contained in the
proposal are true; and, further, that the proposer has not, directly or indirectly, submitted his or her
proposal price or any breakdown thereof, or the contents thereof, or divulged information or data relative
hereto, or paid, and will not pay, any fee to any corporation, partnership, company, association,
organization, proposal depository, or to any member or agent thereof to effectuate a collusive or sham
proposal.
I declare under penalty of perjury under the laws of the State of California that the foregoing is true and
correct.
Proposer Signature.
Proposer Name:
Proposer Title:
Company Name:
Address:
Joe DeMarco
Regional Sales Manager
Emphases Computer Solutions, Inc.
3675 Mt Diablo Blvd, Suite 280, Lafayette, CA 94549
ta Qaiata
C:AL*OPNIA -
ATTACHMENT 4
ACKNOWLEDGEMENT OF RECEIPT OF ADDENDA
Must be executed by proposer and submitted with the proposal;
If no addenda has been issued, mark "N/A" under Addendum No. indicating
Not Applicable and sign
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