1-RFP Document Financial Advisor Services 2026.docx

City of South Jordan Finance Department

Finance Department

City of South Jordan

REQUEST FOR PROPOSAL

Financial Advisor Services

Purpose of this Proposal

The City of South Jordan (City) is accepting proposals from independent registered financial firms to provide certain advisor services to the City, including but not limited to the preparation of supporting data, bond market information, assistance in obtaining bond ratings, and assistance in investor negotiations, regarding various City projects which may result from time to time in the issuance of bonds, notes, refunding bonds and/or use of other financial instruments.

We invite your firm to submit a proposal to us by April 17, 2026 at 12:00 PM MDT. A description of our organization, the services needed, and other pertinent information follows.

Background

The City, incorporated in 1935, is located in the southwest part of the Salt Lake Valley, approximately 15 miles from Salt Lake City. The City occupies a land area of about 25.74 square miles and serves a population of about 88,740. The City is empowered to levy a property tax on both real and personal properties located within its boundaries.

The City operates under traditional council-mayor form of government. Policy-making and legislative authority are vested in the mayor and council members. The mayor is elected at large and five council members are elected by district. The mayor and city council are elected on a non-partisan basis with members serving on a staggered four-year term basis. The city manager is responsible for carrying out the policies and ordinances of the city council, overseeing the day-to-day operations of the government, and appointing heads of the various departments.

The City provides a full range of services, including police and fire protection; building and zoning; construction and maintenance of highways, streets, and infrastructure; recreational activities; and cultural events. In addition to general government activities, the governing body controls the Redevelopment Agency Fund, Municipal Building Authority, Water Fund, Sanitation and Recycling Fund, Storm Water Fund, and Mulligans Golf; therefore these activities are included in the reporting entity.

Services to Be Performed

The purpose of this RFP is to solicit proposals from qualified firms to provide financial advisor services to the City, consisting of on-going advice pertaining to proposed and existing bond issues and related matters.

The City’s financial advisor shall be prepared to provide certain services that will include, but not necessarily be limited to:

· Preparation and presentation of information to rating agencies and bond insurance companies

· Bond issue structuring

· Review of official statements

· Coordination of the particulars of issuing bonds

· Interface with bond counsel

· Assist the City in analyzing the financing impact of projects costs, cash flow projections, and rate implications

This RFP is designed to provide basic information sufficient to solicit proposals from qualified firms, but (except to the extent expressly provided otherwise) is not intended to limit a proposal’s content or exclude any relevant, important, or essential information. This RFP is part of a competitive procurement process, which is intended to serve the best interest of the City and its residents. It also provides each qualified firm responding to this RFP with a fair opportunity for its services to be considered. The City desires to contract with a firm to provide financial advisor services, as it is likely to issue bonds in the next five years.

Scope of Services

1. To make studies and recommendations on methods and the structuring of financings including payment, security details, and bond specifications believed advantageous to the City.

2. Provide sophisticated cash flow bond schedules and sizing analysis for the City.

3. To work with bond counsel, to be selected by the City, in connection with proceedings authorizing the issuance of bonds.

4. To work with an underwriter, to be selected by the City, in connection with proceedings authorizing the issuance of bonds.

5. Participate in the preparation of official statements for the issuances setting forth financial and other information about the City and the bond issue.

6. Participate in the drafting of documents utilized by the City in its financing.

7. Have representatives present at meetings, when requested or notified, on matters concerning financial techniques and bond issues.

8. Assist, as directed by the City, with presentations to rating agencies and bond insurance companies concerning the issuance.

9. Perform other functions normally contemplated to be within the scope of duties of a fully qualified financial advisor including advising the City on the method of sale of bonds.

Instructions for Proposals

The City intends to award the financial advisor contract to that firm with the best proposal, as deemed appropriate for the City’s needs, through consideration of the following factors by a Selection Committee;

· Prior experience in structuring and completing Utah municipal financing;

· Qualifications of assigned personnel who will conduct work for the City;

· Proposed involvement of the City’s staff and administration; and

· Proposed fee schedule for all types of bonds.

All proposals must be organized and each section must clearly and fully address the subject and be understandable. Failure to do so will negatively impact the evaluation of your submitted proposal.

The proposal document should include the following:

Section 1 Cover Letter

· Include a general statement as to your firm’s ability to meet the overall scope of services as opposed to addressing each individual requirement.

Section 2 Qualifications and Expertise

· Provide a brief description of your firm, including ownership, volume of business, number of employees, and number of years in business

· Describe your overall business philosophy

· Describe your firm’s strength in the marketplace

· Describe the team that would service the City’s relationship, specifying the individual who will be the lead person

· Describe the responsibilities, expertise, and education of each team member

· Provide a list of services provided by your firm, and indicate those services that will be included in your cost proposal

Section 3 Work Plan

Include a complete narrative of your assessment of the work to be performed, your firm’s ability and approach, and the resources necessary to fulfill the requirements. Include discussion of the following, and any other role of a financial advisor:

· Bond structure strategy and risk/reward. Provide suggestions, creative ideas and/or cost effective measures that your firm feels might be of benefit to the City.

· Target savings and recommended point at which bonds should be refunded.

· Describe your firm’s role to assist the City in analyzing the financing impact of project costs, cash flow projections, and rate implications.

Section 4 Past Performance

· List references (including contact information) of entities for which financial advisor services have been provided, and who can render an opinion regarding the ability of your firm to provide those services.

· Describe any work performed for other municipalities of similar size and scope.

Section 5 Fees

· Cost of financial advisor services in regard to issuing different types of bonds.

· Fee for services should the City fail to issue bonds.

· Cost of other financial advisor services.

· List other anticipated costs that will require reimbursement.

Basis of Selection

The selection committee will evaluate your proposal using the selection criteria set forth below.

Evaluation Criteria Possible Points

Closing Date and Time

The closing date and time for this RFP is Friday, April 17 at 12:00 pm Mountain Daylight Time (MDT). It is your responsibility to make sure you submit your response by the date and time indicated above. Late or incomplete proposals will not be considered.

Submittal Instructions

Each responding firm shall submit their proposal only through the State of Utah Public Procurement Place website (aka Bonfire). Only electronic submissions through Bonfire will be accepted.

Inquiries

All questions must be directed in writing through the Bonfire Question and Answer Board. Questions must be received by Friday, April 10 at 12:00 PM MDT. No phone calls or appointments will be accepted.

Disclosures

1. Once the RFP is released, communication of any kind made regarding this Proposal with any City employee or committee member other than the listed contact person in this RFP is prohibited. Any such contact could disqualify a Consultant from being awarded this RFP.

2. Award of the Proposal does not guarantee any purchase will take place. The City does not guarantee that any or all of the planned purchases will take place.

3. In order to access the State of Utah's procurements online, you must register as a contractor on the Bonfire website, https://utah.bonfirehub.com/. If you require assistance during the registration process, you may contact support.bonfire@eunasolutions.com. Registration, email notifications, and electronic responses for all sourcing events (bids, RFPs, etc.) are free under the State of Utah contract with Bonfire. Registration with the Utah Supplier Portal is limited to procurements conducted by the State of Utah and political subdivisions of the State of Utah. Go to this link for a vendor support article that covers vendor registration in detail: https://vendorsupport.gobonfire.com/hc/en- us/articles/15646869029783-Vendor-Registration.

4. Submit proposals through Bonfire electronically by the close date listed in Bonfire. It is the sole responsibility of the Consultant to submit the proposal before the scheduled time. Any questions regarding how to use the Bonfire program, including how to submit a proposal, download and upload documents, etc., should contact support.bonfire@eunasolutions.com.

5. It is the responsibility of any potential Consultant to check for updates. Any addendums or updates will be posted through Bonfire. The City is responsible to post any and all updates to questions through Bonfire; it is the potential Consultant’s responsibility to ensure they are checking for updates.

6. Any proposal may be withdrawn prior to the date and time the proposals are due. Any proposal not withdrawn will constitute an irrevocable offer, for a period of ninety (90) days, to provide the City with the services/product specified in the proposal.

7. Any proposal emailed or not sent electronically through Bonfire will not be considered. It is not the responsibility of the City to inform Consultant what they must submit through Bonfire; it is the sole responsibility of the Consultant to read this RFP and follow all conditions.

8. The City of South Jordan reserves the right to reject any or all RFP’s or any part, thereof; to waive informalities; to negotiate and agree to contract terms with the successful proposal; to disregard non-conforming, non-responsive, unbalanced or conditional proposals, and to re-advertise if it is in the best interest of the City to do so. It shall be the sole responsibility of the proposer to upload their documents onto the Bonfire website prior to the deadline. Failure to submit required documents or follow any of the listed conditions in this RFP may result in the Proposal being disqualified, but it is the sole discretion of the selection committee to do so consistent with the Purchasing Policy and the best interests of the City.

9. All questions must be submitted via Bonfire by the Q&A date/time deadline posted in Bonfire. Any question emailed or asked of staff will not be answered. Instead, potential Consultants will be directed to go to Bonfire and submit their questions via the Question and Answer function in Bonfire.

10. Any product or services that have been omitted from this specification that is clearly necessary for completing the work shall be considered a requirement although not directly specified or called for in this proposal.

Administrative Guidance

The information provided herein is intended to assist proposers in the preparation of proposals necessary to properly respond to this RFP. The RFP is designed to provide interested proposers with sufficient basic information to submit proposals meeting minimum requirements but is not intended to limit a proposal’s content or exclude any relevant or essential data therefrom. Proposers are at liberty and are encouraged to expand upon the specifications to evidence service capability under any agreement. The City will not be liable for any costs proposers may incur in the preparation or presentation of this proposal.

Proposal Consideration

The City may award a contract based solely upon the merits of the initial proposal, without an oral commentary by the proposers. Considering this, proposers should present the most favorable service available. The City may require an oral presentation from a short list of the top two or three proposers to make a final selection. If necessary, the presentation will be scheduled after the closing date and prior to the award of the contract. The City reserves the right to reject any or all proposals received and to waive any informality or technicality in any proposal in the interest of the City.

Protected Information

All Proposals are subject to the Government Records Access and Management Act (GRAMA).

If the Proposer believes any information should be held confidential for business reasons, the Proposer must submit a written claim of business confidentiality for that particular information and include a specific statement of the reasons supporting the claim pursuant to Utah Code 63G 2 305(2)(c).

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