Financial Advisor Services
CITY OF CHOWCHILLA
REQUEST FOR PROPOSALS FOR FINANCIAL ADVISOR
Issue Date: February 5 , 2013
The City of Chowchilla, (“City”) is requesting proposals for financial advisory services, as described below:
SCOPE OF SERVICES
The individual or firm awarded the contract shall be the primary financial advisor to City. Services to be provided include, but are not limited to:
1. Evaluate possible financing options for City, including new debt issuance/debt refinancing for infrastructure, and provide evaluation of underwriters, trustee proposals, and further assist in securing credit enhancement if necessary.
2. Evaluate participant credit quality and financial strength; Review, evaluate and comment on adequacy of financial forecast studies or other debt, and prepare written report to City regarding the feasibility of issuing the bonds and sufficiency of revenues and funds pledged to support the bonds or other debt
3. Bond document participation and review
4. Lead team discussions on form, content, and information in the official statement in conjunction with bond counsel.
5. Pricing of Bond Issue under both Competitive and Negotiated sale
6. Prepare recommendation to City for each debt issue regarding financial feasibility, bond covenants, and pricing.
7. Review closing memorandum with bond counsel to confirm activities at the closing and role of each party
8. Assist participant in evaluating the investment of bond proceeds for construction fund, debt service fund, escrow, etc.
9. Attend all City Council meetings and any special meetings with City, bond counsel, bond insurers and rating agencies as City deems necessary
10. Advise participant and City on post issuance changes, credit enhancement, management consultants, etc., and conduct post issuance reviews (e.g., remarketing agent performance) as requested by City
11. Provide a report to City on the project and the bond issue sale
12. Assist staff by evaluating program proposals or changes in policy
A) STATEMENT OF QUALIFICATIONS
1) Firm Qualifications
a) Describe the experience of your firm in providing public sector financial advisory services. Identify the total number of professionals employed by your firm who serve as financial advisors to public sector entities, including support staff, further identify the number of public sector entities for which your firm currently is under contract to serve as financial advisor, and provide the number and volume of debt issuance transactions completed pursuant to such contracts.
b) Identify the location of the base office for the individuals who will be assigned to the City and the total number of professionals in such office who serve as financial advisors to public sector entities.
2) Individual Qualifications
a) Identify the individual who will initially serve as the primary point of contact with the city under this contract and the other individuals of the team who are expected to work on city transactions. Describe the type of work each is expected to perform, and provide brief biographical information for each of these individuals that identifies their educational background, work history, and past responsibilities serving in similar financial advisory roles.
b) Describe their specific experience in the following specialized areas: GO Bonds (voted and non-voted), LID/Special assessments, etc.
B) FEE PROPOSAL
1) Please state your fee proposal for the scope of work as financial advisor as described in the Scope of Services. Please indicate any fees or hourly rates for special projects.
2) Please document any key assumptions made in developing the fee proposal and any other contingencies we should be aware of.
3) Is there a separate charge for attendance at City meetings which are not part of an otherwise specific City engagement?
The proposal must also include contact information for three professional references.
INSTRUCTIONS TO REPLY TO THIS REQUEST FOR PROPOSALS
To reply to this RFP, please submit a proposal of no more than five pages covering the items listed above under the heading STATEMENT OF QUALIFICATIONS.
All materials shall be submitted in one packet and submitted to:
City of Chowchilla
130 S. Second St.
Chowchilla, CA 93610
ALL APPLICATION MATERIALS MUST BE RECEIVED BY 5 PM, MAY 1, 2013.