NIGP 94979: Service Charges, Bonds

NIGP 94979 Service Charges, Bonds (Item) covers legal counsel services supporting municipal debt issuance, disclosure compliance, and financing transactions—specifically bond counsel, disclosure counsel, and related legal advisory work that state and local governments procure to manage their debt obligations and securities law compliance. State and local governments buy these services to structure bond offerings, prepare official statements and preliminary statements, advise on material event disclosures under Securities Exchange Act Section 15c2-12, draft ordinances and resolutions, render legal opinions, provide validation pleadings, and support post-issuance compliance. Issuing bodies include municipalities and counties of varying sizes. The Winter Park, Florida RFP 26-5 (bond and disclosure counsel, RFP, due February 24, 2026) and Brevard County, Florida RFP 1-26-04 (disclosure counsel, RFP, due January 15, 2026) are representative recent solicitations.

Recent activity under the code concentrates in Florida, with both the City of Winter Park (Orange County) and Brevard County posting RFPs for counsel services in early 2026. Both solicitations require firms to propose tiered fee structures keyed to bond issue size (typically breakpoints at $10 million and $25–40 million ranges) and hourly rates for non-bond legal work. Professional liability insurance minimums range from $1 million to $2 million per claim with tail coverage requirements. Both municipalities prioritize experience in municipal bond law and debt structuring, with evaluation criteria heavily weighted toward qualifications, key personnel, and references, alongside cost. Neither solicitation designates set-asides for disadvantaged business enterprises. The Winter Park contract carries a five-year initial term with optional two-year renewals (up to eighty-four months total); Brevard County's contract is five years with no renewal options specified.