NIGP 94951: Principal on State Bonds

NIGP 94951 Principal On State Bonds, an Item code, covers legal counsel services for municipal debt issuance, including bond counsel, disclosure counsel, and related financing representation that state and local governments procure to support authorization, sale, and compliance with outstanding and future debt instruments. The scope encompasses preparation of ordinances, resolutions, and legal opinions; validation pleadings; post-issuance compliance support; and ongoing legal counsel for various financing matters including both bond transactions and bank loans. Issuing bodies pursuing this code include municipalities evaluating debt issuance for capital projects. Respondents typically propose tiered fee structures based on transaction size, minimum and maximum transaction fees, and hourly rates for partner and associate time on non-bond services, with professional liability insurance requirements and demonstration of prior client experience.

The City of Winter Park, Florida, posted RFP 265 on September 28, 2026, seeking bond counsel and disclosure counsel services to support anticipated municipal debt financing in the $25,000,000 to $50,000,000 range for undergrounding power lines, with proposals due February 24, 2026. The contract runs for an initial sixty-month term with optional renewal periods of up to two additional twelve-month terms, not to exceed eighty-four months total. Evaluation criteria weight experience (20 points), key personnel qualifications (15 points), references (15 points), technical approach (25 points), and cost-effectiveness (25 points), with shortlisted firms advancing to Phase 2 interviews and oral presentations scheduled for April 1, 2026.