5-RFSQ - 234121 - Arbitrage - SOW - FINAL.pdf

REQUEST FOR SUPPLIER QUALIFICATIONS

Bid Event # 234121

Arbitrage

City of Little Rock, Arkansas

The capital city of Arkansas is also the state’s largest municipality with over 202,000 people calling it home. The City of Little Rock employs over 2,500 employees in 16 departments. It is our mission to ensure our City is a safe, secure, and prospering place to live, work, and play.

Mayor Frank Scott Jr.

City of Little Rock Request for Supplier Qualifications – Bid Event # 234121 - Arbitrage

City of Little Rock, 500 W. Markham St., Little Rock Arkansas 72201 (501) 371-4560

Contents

SCHEDULE AND ACCESS INFORMATION

SECTION 1 – GENERAL INFORMATION

1.1 PURPOSE

1.2 BACKGROUND INFORMATION

1.3 DEFINITION OF REQUIREMENT

1.4 DEFINITIONS OF TERMS

1.5 RESPONSE DOCUMENTS

1.6 ORGANIZATION OF RESPONSE DOCUMENTS

1.7 PRICING

1.8 NONCOLLUSION

1.9 PROPRIETARY INFORMATION

1.10 ISRAEL BOYCOTT NOTICE

1.11 BOYCOTT OF THE ENERGY, FOSSIL FUEL, FIREARMS, AND AMO INDUSTRIES

1.12 REQUIREMENT OF ADDENDUM

1.13 PAST PERFORMANCE

1.14 PUBLICITY

SECTION 2 – PROJECT SCOPE OF SERVICES

2.1 GOAL

2.2 TERMS OF AWARD

2.3 MINIMUM QUALIFICATIONS

2.4 GENERAL REQUIREMENTS

SECTION 3 – PERFORMANCE MATRIX

SECTION 4 – CONTRACT MANAGEMENT

4.1 COMMUNICATION PLAN

4.2 JOINT VENTURE

4.3 PROCUREMENT SELECTION TEAM

SECTION 5 – EVALUATION PROCESS

5.1 CONDITIONS OF EVALUATION

5.2 REFERENCE CHECKS

5.3 CLARIFICATION AND DISCUSSION OF PROPOSAL

5.4 TECHNICAL PROPOSAL ELEMENTS

SECTION 6 – ACCEPTANCE OF EVALUTION TECHNIQUE

SECTION 7 – CONTRACT

7.1 NEGOITATIONS

7.2 ISSUANCE OF CONTRACT

7.3 COOPERATIVE USE

7.4 LIABILITY

SECTION 8 – INQUIRES AND SUBMISSION INSTRUCTIONS

SECTION 9 – TERMS AND CONDITIONS

SCHEDULE AND ACCESS INFORMATION

Schedule of Solicitations

Project ID | Title : Arbitrage

Department: Finance

Release Date: 05/08/26 @ 10:00am

Vendor Questions Deadline:

05/22/26 @ 10:00am

Close Date: 05/29/26 @ 10:00am

Pre-Bid Opening Meeting: (optional)

N/A

Bid Opening Information (Optional)

Bid Opening MS Teams

Date: 05/29/2026 Time: 10:15 a.m., Central Time

Web Link: RFSQ - Bid Event # 234121 - Arbitrage - Bid Reading | Meeting-Join | Microsoft Teams

Meeting ID: 235 848 828 252 794

Passcode: wt2Zf3ur

Dial-In: +1 972-371-0918,164046306# United States, Dallas

Phone Conference

ID: 213 678 055#

Resources

Business Contact Little Rock Business Portal | City of Little Rock

Procurement Purchasing Division | City of Little Rock

LRPROCURE

powered by EUNA littlerock.bonfirehub.com

Israel Boycott Restriction Confirmation

By submitting a formal proposal to this Bid Solicitation, a Prospective Vendor agrees and certifies that they do not boycott Israel, and if selected will not boycott Israel during the aggregate term of the contract.

Vendor must attach a signed copy of the Combined Certification for Contracting with the City of Little Rock form to the proposal submission.

https://teams.microsoft.com/l/meetup-join/19%3ameeting_ODAwYmRjOGEtNGEyZi00YzMzLWI1ZDctMWJjMzgwMTk0NTUz%40thread.v2/0?context=%7b%22Tid%22%3a%2284d336e2-3cb3-4ee8-91ca-5e4f107776ce%22%2c%22Oid%22%3a%220482e7ca-b0e2-4a95-9ca7-449438c919bf%22%7d https://teams.microsoft.com/l/meetup-join/19%3ameeting_ODAwYmRjOGEtNGEyZi00YzMzLWI1ZDctMWJjMzgwMTk0NTUz%40thread.v2/0?context=%7b%22Tid%22%3a%2284d336e2-3cb3-4ee8-91ca-5e4f107776ce%22%2c%22Oid%22%3a%220482e7ca-b0e2-4a95-9ca7-449438c919bf%22%7d tel:+19723710918,,164046306 https://www.littlerock.gov/business/little-rock-business-portal/ https://www.littlerock.gov/city-administration/city-departments/finance/divisions/procurement/ https://littlerock.bonfirehub.com/portal/?tab=openOpportunities

Boycott of the Energy, Fossil Fuel, Firearms, and AMO Industries

By submitting a formal proposal to this Bid Solicitation, a Prospective Vendor agrees and certifies that it does not boycott the energy, fossil fuel, firearms, and ammunition industries and will not boycott the energy, fossil fuel, firearms, and ammunition industries during the term of the contract.

Vendor must attach a signed copy of the Combined Certification for Contracting with the City of Little Rock form to the proposal submission.

Vendors must submit responses to this request online at LRProcure EUNA on or before the designated due date and time.

Responses should comply with all requirements stated in this bid solicitation. The Vendor is required to be both responsive and responsible as per the terms of this bid. If any conflict is identified in key terms (such as the quantity or type of work to be performed), the City of Little Rock reserves the right to disqualify the Vendor's response at its sole discretion.

The City reserves the right to revise the bid submission deadline. If the City needs to make changes or revisions, an addendum will be available on Bonfire under Public Notices.

The City has worked hard to make sure this request is correct, but it is up to the Bidder to check the proposal carefully because the City and its team are not responsible if there are mistakes or missing information. The responsibility for determining the full extent of the exposure to risk and verifying all information herein shall rest solely on those parties’ making proposals. The City, its representatives, and its agents shall not be responsible for any error or omission in this RFSQ, nor shall they be responsible for any Vendors or representatives' failure to verify the information herein and to determine the full extent of that exposure.

http://www.littlerock.bonfire.hub.com/

SECTION 1 – GENERAL INFORMATION

1.1 PURPOSE

The City of Little Rock has issued this Request for Supplier Qualifications (RFSQ) to businesses authorized in the State of Arkansas and qualified to provide the requested service(s) outlined in this bid document.

Arbitrage

Seeking qualified firms to provide professional arbitrage rebate compliance and related consulting services associated with the City’s tax-exempt and tax-advantaged debt issuances.

The selected vendor(s) shall provide calculations, analyses, reporting, consulting, and compliance support necessary to assist the City in meeting all applicable federal regulations and Internal Revenue Service (“IRS”) requirements governing arbitrage rebate and yield restriction under the Internal Revenue Code and related Treasury Regulations.

The City intends to establish a contractual relationship with one or more qualified firms capable of providing timely, accurate, and comprehensive arbitrage rebate compliance services for current and future bond issuances.

1.2 BACKGROUND INFORMATION

Little Rock is the State Capital and the largest city in Arkansas. It was chartered in 1835 and is in the central part of the state, approximately 135 miles west of Memphis, Tennessee. The city has a population of 202,591 according to the 2020 census certified by the Arkansas State Treasurer. The 2026 operating budget revenues approved by Ordinance No. 22079 are $350,389,573 including the General Fund revenue budget of $271,999,104.

It is also a major cultural, economic, and governmental center in central Arkansas. Several cultural institutions are in Little Rock, such as the Arkansas Museum of Fine Arts, the Arkansas Repertory Theatre, the Arkansas Symphony Orchestra, The Museum of Discovery, William J. Clinton Presidential Library & Museum, and the Mosaic Templars Cultural Center, including a diverse array of outdoor recreational opportunities.

1.3 DEFINITION OF REQUIREMENT

A. The words “must” and “shall” signify a requirement of this solicitation and that Bidder’s agreement to and compliance with that item is mandatory.

B. Exceptions taken to any requirement in this solicitation, whether submitted in the Vendor’s response or in subsequent correspondence, may cause the Responder’s response to be disqualified.

C. Bidders may request exceptions to non-mandatory items. Bidder must clearly explain the requested exception and should reference the specific solicitation item number to which the exception applies.

1.4 DEFINITIONS OF TERMS

A. The City has made every effort to use industry-accepted terminology in this bid solicitation and will attempt further to clarify any point of an item in question as indicated in the Clarification and Discussion of Proposal.

B. “Best Interests” used herein means practicing economical frugality, professionalism, and a firm commitment to the publicly stated goals of the City

C. “Bid Opening Meeting” is the formal process in which sealed bids are opened and the contents are revealed to all Bidders and the public (optional attendance).

D. “Commodity Code” is the standardized system of numbers used to identify goods and services being purchased. The City of Little Rock utilizes the NIGP Code.

E. “City” means the City of Little Rock, Arkansas. When the term “City” is used herein to reference any obligation of the City under a contract that results from this solicitation.

F. “Public Notice” is the Bonfire bulletin board where the City can issue changes or new information about a project. Vendors can find this in the [Messages] section titled “Public Notices.” Vendors who have viewed a project will receive an email notification when a new public notice is posted.

G. “Prospective Vendor” means a person who submits a bid in response to this solicitation.

H. “Responsible bid” means a Vendor response that has the capability in all respects to fully perform the contract requirements and the integrity and reliability that will assure good faith performance.

I. “Responsive bid” A bid solicitation that is deemed to meet all the requirements set forward in the bid solicitation such as but not limited to bid instructions, technical requirements, general requirements, acceptance of terms and conditions, and provide complete information.

J. “Vendor” means a person who sells or contracts to sell commodities or services.

K. The words “Responder,” “Bidder,” and “Vendor” are used synonymously in this document.

L. The terms “Request for Supplier Qualifications,” “RFSQ,” and “Solicitation” are used synonymously in this document.

M. The terms “bid,” “response,” and "submission" are used synonymously in this document.

1.5 RESPONSE DOCUMENTS

The Bidder’s responsive and responsible proposal must be submitted thru LRPROCURE Bid Opportunities Portal on or before the closing date and time. Other documents or information required must be attached to bid solicitation upon submission.

1.6 ORGANIZATION OF RESPONSE DOCUMENTS

It is strongly recommended that Responders adhere to the following format and suggestions when preparing their response. The proposal should be arranged in the following order:

• Table of Contents. The Table of Contents should itemize the contents by section, subsection, and page numbers.

• Signed Addenda, if applicable.

• Other documents or information are required in this solicitation.

• Response to the evaluation criteria (Refer to Section 6. Evaluation Process]

1.7 PRICING

Pricing will be negotiated with awarded Vendor.

1.8 NONCOLLUSION

Bidder shall represent and warrant that in connection with a response to this solicitation:

A. The Bidder has not been a party to any collusion among Responder(s) in the restraint of freedom of competition by agreement to bid at a fixed price or to refrain from bidding.

B. The Bidder has not been a party to any collusion with any official or employee of the City of Little Rock as to quantity, quality, or price in the prospective contract or any other terms of said prospective contract.

C. The Bidder has not been a party in any discussion between Bidders and any official of City concerning the exchange of money or other things of value for special consideration in the letting of a contract.

D. Bidder's failure to disclose such a relationship may result in one of the following:

1. The City’s rejection of the Responder's response.

2. The City’s cancellation of any resultant contract.

1.9 PROPRIETARY INFORMATION

A. Response documents pertaining to this solicitation will become the property of the City of Little Rock and shall be subject to the Arkansas Freedom of Information Act (FOIA).

1.10 ISRAEL BOYCOTT NOTICE

A. Pursuant to Arkansas Code Annotated § 25-1-503, a public entity shall not enter into a contract valued at $1,000 or greater with a company unless the contract includes a written certification that the person or company is not currently engaged in and agrees for the duration of the contract not to engage in, a boycott of Israel.

B. Vendor's signature on the Combined Certification for Contracting with the City of Little Rock form shall represent and warrant they do not boycott Israel and will not boycott Israel during the remaining aggregate term of the contract.

1.11 BOYCOTT OF THE ENERGY, FOSSIL FUEL, FIREARMS, AND AMO INDUSTRIES

Pursuant to Arkansas Code Annotated § 25-1-1002, a public entity shall not enter into a contract valued at $1,000 or greater with a company unless the contract includes a written certification that the person or company is not currently engaged in and agrees for the duration of the contract not to engage in a boycott of the energy, fossil fuel, firearms, and ammunition industries. The signed Combined Certification for Contracting with the City of Little Rock form shall represent the Bidder’s compliance.

1.12 REQUIREMENT OF ADDENDUM

This solicitation shall be modified only by an addendum written and authorized by City.

1.13 PAST PERFORMANCE

A Vendor's past performance with City may be used to determine if the Bidder is “responsible”. Responses submitted by the Bidder determined to be non-responsible shall be disqualified.

1.14 PUBLICITY

Bidder shall not issue a news release or article pertaining to this solicitation or any portion of the project, in any medium, at any time during the pendency of the solicitation or fulfillment of the terms of this contract without City’s prior written approval. Bidder’s failure to comply with this requirement may be cause for the City to reject the proposal or cancellation of this contract.

SECTION 2 – PROJECT SCOPE OF SERVICES

2.1 GOAL

The primary goals of this procurement are to:

• Ensure the City maintains full compliance with all applicable federal arbitrage rebate and yield restriction requirements.

• Minimize financial and regulatory risk associated with the City’s debt portfolio.

• Obtain reliable, timely, and defensible arbitrage rebate calculations and reporting.

• Select a qualified firm with demonstrated expertise in municipal finance and tax-exempt debt compliance.

• Improve accountability, transparency, and consistency in arbitrage monitoring and reporting processes.

• Ensure proactive communication regarding compliance deadlines, liabilities, and regulatory changes impacting the City.

The selected vendor shall provide professional services including, but not limited to, the following:

A. Arbitrage Rebate Calculations

• Perform arbitrage rebate and yield restriction calculations for all applicable bond issuances.

• Calculate rebate liabilities at required computation dates and final maturity or redemption dates.

• Determine temporary period exceptions, spending exceptions, and other applicable exemptions.

• Analyze investment earnings and bond yield calculations.

• Perform yield restriction analyses

B. Compliance Monitoring

• Monitor compliance with IRS arbitrage regulations and tax requirements.

• Identify potential rebate liabilities and compliance risks.

• Notify the City of upcoming filing deadlines and payment obligations.

• Provide compliance monitoring summaries

C. Reporting and Documentation

• Prepare comprehensive arbitrage rebate reports suitable for IRS review or audit.

• Provide the arbitrage rebate calculation reports to the City.

• Provide supporting schedules, assumptions, methodologies, and calculation summaries.

• Maintain documentation sufficient to support audit defense and regulatory inquiries.

• Provide annual or periodic status reports.

D. IRS Filing Support

• Assist with preparation of IRS Form 8038-T and related filings, as applicable.

• Provide guidance regarding payment procedures and filing timelines.

E. Consulting and Advisory Services

• Provide technical guidance regarding arbitrage implications for new debt issuances, refunding’s, investments, and restructuring activities.

• Advise the City on regulatory updates and industry best practices.

• Participate in meetings with City staff, financial advisors, bond counsel, and external auditors as requested.

F. Audit and Regulatory Assistance

• Provide support during IRS examinations, audits, or compliance reviews related to arbitrage matters.

• Assist in responding to information requests and documentation inquiries.

G. Training and Knowledge Transfer

• Provide periodic training or informational sessions for City staff regarding arbitrage compliance requirements and best practices.

2.2 TERMS OF AWARD

A. The anticipated contract term shall be three (3) years with two (2) one (1) year optional renewal periods subject to City approval, funding availability, and satisfactory vendor performance.

B. The Vendor must have a business license to operate in the State of Arkansas.

C. The City of Little Rock Treasury Management Division will determine validity of all business licenses.

D. For more information regarding business licenses requirements, contact the Treasury Division | City of Little

Rock.

E. The City reserves the right to reject all bids and to waive any informality or irregularity in any bid.

F. Bidder must attach a signed copy of the Combined Certification for Contracting with the City of Little Rock form to the bid submission.

2.3 MINIMUM QUALIFICATIONS

To be considered for selection, the proposal must meet the guidelines and follow the format outlined in the Section 5 – Evaluation Process of this document.

A. Vendors responding to this RFSQ must demonstrate, at minimum, the following qualifications:

a. A minimum of five (5) years of experience providing municipal arbitrage rebate compliance services for governmental entities.

b. Demonstrated experience with tax-exempt municipal bond issues and IRS arbitrage regulations.

c. Experience performing arbitrage rebate calculations for issuers with comparable debt portfolios and transaction complexity.

d. Availability of qualified personnel with expertise in municipal finance, accounting, taxation, and rebate compliance.

e. No material history of regulatory sanctions, debarment, or professional disciplinary action within the past five (5) years.

f. Ability to provide references from at least three (3) governmental or municipal clients.

g. Ability to maintain confidentiality and protect sensitive financial information.

h. Ability to comply with all applicable federal, state, and local laws and procurement requirements.

https://www.littlerock.gov/city-administration/city-departments/finance/divisions/treasury/ https://www.littlerock.gov/city-administration/city-departments/finance/divisions/treasury/

B. Statement of Qualifications. The statement of qualifications shall include the following, but not limited to:

a. License to Practice in the State of Arkansas. Proof of current business license shall be included that the business and all assigned professional staff are properly licensed or registered to practice in Arkansas.

b. Company Background and Experience. The Bidder shall state the size of the business and the office location from which the work on this project will be performed. This section shall also establish the Bidder’s ability to satisfactorily perform the required work through past successes that demonstrate competency in the services to be performed, strength and stability of the organization, and staff expertise in meeting expectations. The City may request additional information or clarification.

c. Staff Qualifications. Identify management staff, including partners, managers, other supervisors, and specialists, who would be assigned to the project. Provide information and resumes on the experience of each person, including information on relevant continuing professional education for the past three (3) years and membership in professional organizations relevant to the performance of this project. Nonprofit organizations must include a board members list.

d. Organizational Chart. Provide an organizational chart for the portion of your business that will be involved with the project, complete with names and titles. On the chart mark the persons who will be involved in this project.

e. Business Operation. If Bidder has operated under any other names within the last ten (10) years, provide those business names.

f. Ownership Changes. If the Vendor anticipates any mergers, ownership transfer, management reorganization, or departure of key personnel within the next twelve (12) months, describe the anticipated changes and how that could impact work on this project if awarded the contract.

C. Cover Letter. Tell the City why your organization is the best choice. A signed cover letter briefly stating the

Bidder’s understanding of the work to be done and a statement as to why the firm believes it to be the best qualified to perform the work.

D. Executive Summary. Write a brief narrative describing the proposal.

2.4 GENERAL REQUIREMENTS

The selected vendor shall comply with the following general requirements:

A. Communication

• Designate a primary project manager and point of contact.

• Respond to City inquiries within agreed-upon service timelines.

• Provide proactive updates regarding compliance risks and deadlines.

B. Deliverables

• Deliver all reports electronically in PDF and editable formats.

• Ensure all calculations and reports are accurate, complete, and professionally prepared.

• Maintain organized records supporting all calculations and conclusions.

C. Schedule and Timeliness

• Complete calculations and reports within mutually agreed timelines.

• Notify the City immediately of any anticipated delays or issues affecting deliverables.

D. Quality Assurance

• Maintain internal quality control procedures.

• Utilize qualified reviewers to verify calculations and compliance determinations.

E. Confidentiality

• Protect all confidential and financial information received from the City.

• Comply with all applicable records retention and public records requirements.

F. Insurance and Licensing

• Maintain all applicable professional licenses and business registrations.

• Maintain insurance coverage as required by the City.

G. Conflict of Interest

• Disclose any actual or potential conflicts of interest related to the City or its bond transactions.

H. The Vendor shall carry the appropriate insurance and must provide a Certificate of Insurance naming the City of Little Rock as additional insured.

SECTION 3 – PERFORMANCE MATRIX

The City seeks to collaborate with the Vendor and other stakeholders to enhance accountability and contract management, improve results, and adjust the delivery of products or services based on learning what works.

Metric Data Source Data Frequency Responsibility Review Cadence

1. Does the vendor consistently meet reporting and filing deadlines?

Department Records Annually Department of Finance

Annually

2. Does the vendor respond promptly to City requests and questions?

Department Records Annually Department of Finance

Annually

3. Does the vendor effectively assist during audits or IRS inquiries?

Department Records Annually Department of Finance

Annually

Vendor Performance Report (Ad-hoc)

Vendor Performance Review Form

As Needed – At Least Once Per Contract

City of Little Rock Procurement Division

Annually

Vendor Performance Review

Bonfire Annually City of Little Rock Procurement Division

Annually

SECTION 4 – CONTRACT MANAGEMENT

4.1 COMMUNICATION PLAN

A. To manage this contract and the goals outlined in sections herein, the City will collect performance data and regularly discuss performance metrics with selected Vendors.

B. The Vendor update meeting shall occur monthly at an agreed-upon time and date. Upon mutual agreement, the parties may move to this meeting if necessary to avoid scheduling conflicts, holidays, or similar occurrences. Any changes or cancellations to a meeting shall be communicated at least twenty-four (24) hours in advance.

4.2 JOINT VENTURE

A. A joint proposal submitted by two or more Vendors is acceptable.

B. In the event of a joint venture, documentation must be submitted with the proposals identifying all participating business entities.

C. Prior to the award, a binding agreement between the participants must be provided. The City will recognize both companies as one entity.

D. The City shall have a single point of operational contact with the entity that is formed pursuant to this provision.

E. Two companies with the same physical address or with a single point of operational contact will be considered one entity.

4.3 PROCUREMENT SELECTION TEAM

A. All responses will be scored by the Evaluation Selection Committee appointed by the Mayor and City Manager.

The score will be based on the overall responsiveness to the RFSQ requirements, and the reference accounts provided.

B. Pursuant to Arkansas Code § 19-11-802, qualifications and performance data for Vendors who meet the City’s minimum qualifications for this professional service will be kept on file for one (1) year.

C. The City shall have the right, in its sole discretion, to determine what constitutes a minor deviation or informality and to waive minor deviations and informalities.

SECTION 5 – EVALUATION PROCESS

5.1 CONDITIONS OF EVALUATION

A. This RFSQ does not constitute an offer or a contract with any Bidder or other party.

B. The City reserves the right to reject any or all proposals, as a whole or in part, and to waive any informality in proposals received deemed to be in the best interest of the City or to accept or reject all or any part of any Proposal.

C. The City may reject any proposal that is not responsive to all the material and substantial terms, conditions, and performance requirements of this RFSQ.

D. Proposals shall be in English.

5.2 REFERENCE CHECKS

The City may employ a process of contacting references provided through the Bidder’s proposal. The City reserves the right to conduct reference checks at any point in the evaluation process, and to contact other clients beyond just those references provided.

5.3 CLARIFICATION AND DISCUSSION OF PROPOSAL

The City may request clarifications and conduct discussions with any Bidder that submits a proposal, including requesting additional information. The City reserves the right to select the proposal that it believes is the most responsive as determined by the Evaluation Selection Committee, which will best serve the City business and operational requirement considering the evaluation criteria set forth.

5.4 TECHNICAL PROPOSAL ELEMENTS

A. The Technical Proposal outlines the Bidder’s qualifications and proposed plan for addressing the requested item(s) or service(s).

B. Technical Proposals should specifically address each of the elements listed under the Technical Proposal Subsection Category matrix below.

1. In each category, items and questions have been assigned a maximum point value of points. The total point value for each category is reflected in the table below as the Maximum Raw Score Possible.

2. The City has assigned Weighted Percentages to each category according to their significance.

C. Subsections and Scoring

Technical Subsection Maximum Points

Weighted Percent

Final Points Available

Experience of Vendor

30 30% 300

Capability of Vendor 35 35% 350

Methodology 35 35% 350

Total Technical Score 100 100% 1000

D. Calculation of Technical Score

• The Final Score will be calculated based on the following formula:

• In each sub-section, items or questions have been assigned a maximum value of five (5) points.

The scoring rubric for the five (5) point scale is listed below.

Rating Rating Category Rating Criteria Confidence

(A/B) x C = D

A = Actual Raw Points Received B = Maximum Raw Points C = Final Points Available D = Final Technical Score Received

5 Excellent Meets the requirements.

Outstanding knowledge, creativity, ability, or other exceptional characteristics. Extremely well written and thorough.

Very High

4 Good Meets the requirement.

Better than merely acceptable.

High

3 Acceptable Meets the requirement.

Acceptable quality.

Moderate

2 Marginal Does not meet the requirement.

Inadequate.

Low

1 Poor Does not meet the requirement.

Inferior.

Very Low

0 Unacceptable Does not meet the requirement.

Blank or unresponsive.

No Confidence

E. The Bidder’s weighted scores for each category will be added to determine the Total Technical Score for the

Proposal.

1. Responses that do not receive a minimum weighted score of 700 may not move forward in the bid process.

2. Pricing information must not be included in the Technical Proposal.

• Pricing information includes any information by which the cost is set out, may be computed, or may be compared to that of another Vendor, for example

• “At no additional cost;”

• “Free of charge;”

• “For an additional fee.”

3. Pricing information includes any information by which the cost is set out, may be computed, or may be compared to another Vendor.

4. Failure to follow this guideline in any manner will result in disqualification of the proposal F. Evaluation Criteria: These standards items consider, but are not limited to the following:

A. Experience of Vendor Maximum Points

Possible

A-1: Describe the firm’s experience with municipal governments and public-sector issuers. 5

High scoring proposals will describe the firm’s experience with municipal governments and public-sector issuers.

A-2: Describe experience with debt issuances similar in size and complexity to the City’s portfolio.

High scoring proposals will describe experience with debt issuances similar in size and complexity to the City’s portfolio.

A-3: Provide examples of recent arbitrage rebate engagements completed for governmental clients.

High scoring proposals will provide examples of recent arbitrage rebate engagements completed for governmental clients.

A-4: Has the firm assisted clients during IRS audits or compliance examinations? Please explain.

High scoring proposals will explain how the firm assisted clients during IRS audits or compliance examinations.

A-5: Describe the firm’s history of regulatory compliance and professional standing. 5

High scoring proposals will describe the firm’s history of regulatory compliance and professional standing.

A-6: Provide references from municipal or governmental clients. 5

High scoring proposals will provide references from municipal or governmental clients.

B. Capability of the Vendor Maximum Points

Possible

B-1: Describe the technical resources, systems, and software utilized by the Firm and how it will benefit the City?

High scoring proposals will describe the technical resources, systems, and software utilized by the Firm and how it will benefit the City.

B-2: Describe the firm’s quality control and peer review procedures. 5

High scoring proposals will describe the firm’s quality control and peer review procedures.

B-3: Describe the firm’s capacity to manage multiple concurrent engagements and ensure deadlines are met?

High scoring proposals will describe the firm’s capacity to manage multiple concurrent engagements and ensure deadlines are met.

B-4: Describe the firm’s ability to provide timely turnaround on calculations and reports. 5

High scoring proposals will describe the firm’s ability to provide timely turnaround on calculations and reports.

B-5: Explain the firm’s cybersecurity and data protection measures. 5

High scoring proposals will explain the firm’s cybersecurity and data protection measures.

B-6: What training and continuing education do staff receive regarding arbitrage compliance and IRS regulations and what training the firm offers to clients?

High scoring proposals will explain what training and continuing education staff receive regarding arbitrage compliance and IRS regulations and what training the firm offers to clients.

B-7: Describe the qualifications and experience of key personnel assigned to the City. Please ensure resumes are included.

High scoring proposals will describe the qualifications and experience of key personnel assigned to the City, ensuring resumes are included.

C. Methodology Maximum Points

Possible

C-1: Describe the methodology used to perform arbitrage rebate and yield restriction calculations.

High scoring proposals will describe the methodology used to perform arbitrage rebate and yield restriction calculations.

C-2: How does the firm verify the accuracy and completeness of data received? 5

High scoring proposals will describe how the firm verifies the accuracy and completeness of data received.

C-3: Describe the process for identifying potential compliance risks or rebate liabilities. 5

High scoring proposals will describe the process for identifying potential compliance risks or rebate liabilities.

C-4: Describe the firm’s approach to preparing audit-ready documentation and reports. 5

High scoring proposals will describe the firm’s approach to preparing audit-ready documentation and reports.

C-5: Describe the process for handling corrections, recalculations, or amended filings. 5

High scoring proposals will describe the process for handling corrections, recalculations, or amended filings.

C-6: Describe how the firm coordinates with bond counsel, financial advisors, trustees, and City staff.

High scoring proposals will describe how the firm coordinates with bond counsel, financial advisors, trustees, and City staff.

C-7: Please describe innovative services, best practices or value-added services the firm provides.

High scoring proposals will describe innovative services, best practices or value-added services the firm provides.

SECTION 6 – ACCEPTANCE OF EVALUTION TECHNIQUE

Bidder must agree to all evaluation processes and procedures as defined in this solicitation. Submission of a responsive and responsible bid signifies the Bidder’s understanding and agreement that subjective judgments will be made during the evaluation and scoring of the responses

SECTION 7 – CONTRACT

7.1 NEGOITATIONS

A. If the City chooses, negotiations may be conducted with the highest-ranking prospective Vendor. Negotiations are conducted at the sole discretion of the City.

B. If negotiations fail to result in a contract, the City may begin the negotiation process with the next highest ranking prospective Vendor. The negotiation process may be repeated until the anticipated successful Vendor has been determined, or until such a time the City decides not to move forward with an award.

7.2 ISSUANCE OF CONTRACT

A. Any resultant contract of this bid solicitation is subject to City approval processes which may include board review.

7.3 COOPERATIVE USE

A. The City of Little Rock, as the issuing office for this solicitation, shall be the leading agency for this contract.

Other governmental entities may participate in any contract resulting from this solicitation that falls under its scope of work throughout the life of the contract.

B. The Vendor must agree to offer the same pricing, terms, and conditions to participating governmental entities as outlined in this solicitation.

7.4 LIABILITY

The City of Little Rock shall not assume liability or obligation on behalf of any other governmental entity that may use any contract resulting from this solicitation. All purchases and payment transactions shall be made directly between the Vendor and the requesting entity

SECTION 8 – INQUIRES AND SUBMISSION INSTRUCTIONS

Bid submissions must be submitted electronically via LRPROCURE EUNA Brand Solutions prior to the bid closing data. Bid Closing Date is listed under “Important Events.

Any questions or inquiries regarding a bid solicitation must be submitted prior to the Questions Due Date.

Questions Due Date is listed under “Important Events.” Once this date has passed, no further communication shall occur between City of Little Rock and suppliers or service providers.

For any system-related questions, technical errors or help, please contact EUNA Technical Support or using the Help Button or at support@gobonfire.com Mon-Fri 8:00am-8:00pm EST.

Bids Submissions may be revised and resubmitted prior to the Bid Closing Date. Only submitted submissions will be considered.

SECTION 9 – TERMS AND CONDITIONS

All prospective Vendors who submit a proposal agree to be bound by the City of Little Rock Standard Terms and Conditions for Vendors and the online EUNA Terms & Conditions.

https://littlerock.bonfirehub.com/ mailto:support@gobonfire.com https://www.littlerock.gov/media/22981/standards-and-conditions-2025.pdf https://www.littlerock.gov/media/22981/standards-and-conditions-2025.pdf https://www.bonfire.com/terms-and-conditions/