NIGP 94933: Interest on State Bonds

NIGP 94933 Interest On State Bonds is an Item code capturing legal and financial advisory services related to municipal debt issuance, particularly bond counsel and disclosure counsel retained by state and local governments to structure, authorize, and execute debt financing. State and local governments buy specialized legal representation and advisory support for public borrowing under this code, including preparation of debt documentation, legal opinions on bond validity, ordinances and resolutions authorizing issuance, and post-issuance compliance oversight. The work typically flows through municipalities and other public entities planning capital improvements or ongoing operational financing, and spans both large institutional financings and smaller bank-loan transactions requiring specialized counsel.

The City of Winter Park, Florida posted RFP 26-5 on September 28, 2026, seeking bond counsel and disclosure counsel services with separately staffed teams to support municipal debt issuance and financing matters. The solicitation contemplates potential bond financing in the $25,000,000 to $50,000,000 range for undergrounding power lines and ongoing counsel for various financing transactions. Respondents must propose tiered fee structures based on per-$1,000 bond pricing across four debt-size categories, minimum and maximum fees for bond deals and bank loans, and hourly rates for partner and associate time. Proposals are due February 24, 2026, at 10:00 a.m., with oral presentations and interviews anticipated for April 1, 2026. The resulting contract term is sixty consecutive months from execution, with optional renewal periods of up to two additional 12-month terms, not to exceed eighty-four months total, subject to City Commission approval. Professional liability insurance of at least $1,000,000 is required.