16-0155 Change Order Notice V.23.1~3.pdf
PDF 2 MB Posted
- Attached to
- CHANGE ORDER NOTICE -Bond Underwriting Services
- Solicitation number
- 23-557THA-FINAN-B-32047
- Issued by
- Illinois
About this file
This document is a Change Order Notice from the Chief Procurement Office for General Services in Illinois. It provides details on the need to extend the existing contracts for Bond Underwriting Services with eleven senior underwriters and ten co-managing underwriters. The Illinois Tollway is seeking to extend these contracts for a 90-day period from 10/15/2022 to 01/12/2023 to allow time to process a new procurement, which is pending due to a Congressional Hearing. The current contracts under RFP #16-0155 are set to expire on 10/14/2022.
The change order is a no-cost extension to allow the Tollway to continue utilizing the established bond underwriters to market and underwrite Tollway bonds, which are primarily sold to institutional investors. This extension will maintain continuity of services until the new procurement can be completed.
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Other files
| File | Type | Posted |
|---|---|---|
| 16-0155 Change Order Notice BofA.pdf |
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Change Order Notice Chief Procurement Office for General Services Change Order Notice v.23.1 44 Ill. Adm. Code 1.1525(g) requires notice of renegotiated contracts and change orders that increase the cost of a contract by more than $10,000 or the time of completion by a total of 30 days or more to be posted on the Bulletin/BidBuy for 14 days.
This Change Order Notice provides detail as to why the change order is needed and, pursuant to Section 33E-9 of the Criminal Code, that the circumstances said to necessitate the change in performance were not reasonably foreseeable at the time the contract was signed or the change is germane to the original contract as signed. Change orders are defined by Section 1-15.12 of the Procurement Code and Section 1.2067 of the CPO-GS' Administrative Rules.
Detailed explanation for this change order:
11.0.0.20130303.1.892433.887364
| DropDownList1: THA - Toll Highway Authority |
| ProcurementTitle: Bond Underwriting Services |
| BBREFNO.: Bid 21-557THA-FINAN-B-24331 |
| thedetails: The Illinois Tollway would like to extend the Contracts for Bond Under Writing Services for an extension period of 10/15/2022 – 1/12/2023 for a term of 90 days. The Tollway as bond underwriters as established by procurement process RFP#16-0155. The firms consist of eleven (11) senior underwriters and ten (10) co-managing underwriters. Bond underwriters market Tollway bonds to investors and subsequently underwrite the bonds via execution of a bond purchase agreement with the Tollway. Historically, bond underwriters have sold Tollway bonds primarily to institutional investors. |
The current Contracts for 16-0155 is set to expire on 10/14/2022 . This no cost extension of 90 days will extend the contracts until 01/12/2023 for Bond Underwriting Services until the Tollway can process a new procurement, which is pending due to a Congressional Hearing.
| CheckBox1: 1 |
| CheckBox2: 1 |
File details come from the government source that posted it. Updated .