Salt Lake City School District Purchasing Department

Request for Statements of Qualification for

Financial Advisor Services

Solicitation No. TB2648-FA

REQUEST FOR STATEMENTS OF QUALIFICATION

Financial Advisor Services for Salt Lake City School District

Solicitation # TB2648-FA

This Request for Statement of Qualifications (RFSQ), having been determined to be the appropriate procurement method to provide the best value to the SLCSD, is designed to solicit information regarding the qualifications of potential vendors and provide interested firms with sufficient basic information to submit statements of qualification. This RFSQ is issued in accordance with State of Utah Procurement Code, Utah Code Annotated (UCA) Chapter 63G-6a, and applicable Rules found in the Utah Administrative Code (UAC). If any provision of this RFSQ conflicts with the UCA or UAC, the UCA or UAC will take precedence.

PART 1: OVERVIEW AND INSTRUCTIONS

1.1 PURPOSE OF REQUEST FOR STATEMENTS OF QUALIFICATIONS

The Salt Lake City District School District (SLCSD) is soliciting Statements of Qualifications (SOQs) from registered municipal advisor financial firms to provide financial advisor services for the SLCSD. Services to be provided under an awarded contract may include, but are not limited to:

• General financial advice and analysis;

• Capital and debt financing support;

• Bond market information and analysis

• Assistance in bond rating preparation and rating visits; or

• Assistance in investor negotiations

This RFSQ is not being used to solicit costs or prices. That process will be done in accordance with the Utah Procurement Code during Stage II.

1.2 RFSQ PROCESS

Pursuant to UCA §63G-6a-410, this RFSQ is being used to qualify vendors for the services identified in part 2.1 below.

The following is a brief outline of the process to qualify vendors.

Stage 1 - RFSQ: Vendor Qualifications During this stage Vendors will submit SOQ’s based on the criteria described herein. Vendors during this stage will also provide any additions and/or exceptions to the Standard Terms and Conditions. Vendors will be evaluated based upon the evaluation criteria noted herein.

Stage 2 – Fee Negotiations Stage 2 will consist of fee negotiations with the highest scoring vendor. If a fair and reasonable contract cannot be negotiated with the highest scoring vendor, the SLCSD will enter into negotiations with the next highest scoring vendor, and so on until a fair and reasonable contract can be established.

1.3 PROCUREMENT UNIT AND RFSQ SOLICITATION NUMBER

The Salt Lake City School District is the Procurement Unit for this RFSQ and all subsequent addenda relating to it. The reference number for this RFSQ is Solicitation # TB2648-FA. This number must be referred to on all SOQ’S, correspondence, and documentation relating to this RFSQ.

1.4 QUESTION AND ANSWER PERIOD

All questions MUST be submitted through the Bonfire platform (https://www.utah.bonfirehub.com) during the designated time for questions (“Q&A period”) listed on Bonfire. Questions submitted through any other channel will not be answered. Questions may be answered in the order they are submitted or compiled into one document and answered via an addendum. Answers disseminated by SLCSD through the Bonfire system shall serve as the official and binding https://www.utah.bonfirehub.com/ position of SLCSD and will constitute an addendum to this RFP.

Questions, exceptions, or notification to SLCSD of any ambiguity, inconsistency, excessively restrictive requirement, or error in this RFP, MUST be submitted as a question through Bonfire during the Q&A period.

Questions may be answered individually or may be compiled into one document. Questions may also be answered via addenda. An answered question or addenda may modify the specification or requirements of this RFP. Answered questions and addenda will be posted on Bonfire. Vendors should periodically check Bonfire for answered questions and addenda before the closing date. The vendors are responsible for submitting their proposal as required by this RFP, including any requirements in an answered question and/or addendum.

Exceptions to the scope of work or other content of the RFSQ that have not been previously addressed during the active Q&A period of the procurement are not allowed and may result in the vendors SOQ being considered non-responsive.

1.5 ADDENDA

Vendors are encouraged to periodically check Bonfire for posted questions, answers, and addenda.

Any modification to this procurement will be made by addendum issued by SLCSD Purchasing. Addenda to this RFP may be issued for the purpose of making changes to the scope of work, scheduling, qualification requirements, criteria, weighting, or other requirements of this RFP.

After the due date and time for submitting a proposal to this RFP, at the discretion of the procurement official, addenda to this RFP may be limited to vendors that have submitted proposals, provided the addenda does not make a substantial change to this RFP that likely would have impacted the number of vendors responding to the original publication of this

RFP.

Authorized and properly issued addenda shall constitute the official and binding position of SLCSD.

Any response to this RFP which has, as its basis, any communication or information received from sources other than this RFP or related addenda, may be considered non-responsive and rejected at the sole discretion of SLCSD.

1.6 RESTRICTIONS ON COMMUNICATIONS

From the issue date of this RFSQ until a vendor is awarded a contract and the award is published, vendors are prohibited from communications regarding this RFSQ with SLCSD staff, evaluation committee members, or other associated individuals EXCEPT the SLCSD procurement officer overseeing this RFSQ. Failure to comply with this requirement may result in disqualification.

1.7 SUBMITTING YOUR SOQ

Vendors will submit their Detailed Technical Proposals (see Section 2.3 below) through Bonfire. By submitting a SOQ, the vendor acknowledges and agrees that the requirements, scope of work, and evaluation process outlined herein are fair, equitable, understood, and not unduly restrictive. Any exceptions to the content of this RFSQ must be addressed within the Q&A period. The vendor further acknowledges that it has read this RFSQ, along with any attached or referenced documents, including the General Provisions.

All vendor costs incurred in the preparation and submission of a SOQ, including those incurred during interviews, presentations, and/or product demonstrations are the vendor's responsibility and will not be reimbursed.

SOQ’s must be received by the posted due date and time posted on Bonfire (“deadline”). SOQ’s received after the deadline will be late and ineligible for consideration.

The RFSQ will end at the deadline. Do not wait until the last minute. If a vendor is in the middle of uploading a SOQ when the deadline arrives, the system will stop the upload process and the SOQ will not be accepted by Bonfire. Therefore, the attempted submission will be considered late and ineligible for consideration.

1.8 CONTRACT AWARD INTENT

No contracts will be awarded under this Stage I RFSQ process. It is intended that a contract will be awarded to the vendor with the highest score during Stage II.

1.9 LENGTH OF CONTRACT

The contract resulting from this RFP will be for a period of five (5) years.

The SLCSD reserves the right to review contract(s) on a regular basis regarding performance and cost analysis and may negotiate price and service elements during the term of the contract.

1.10 PRICE GUARANTEE PERIOD

All pricing must be guaranteed for two (2) years.

Following the guarantee period, any request for a price adjustment must be for an equal guarantee period, and must be made at least forty-five (45) days prior to the effective date. Requests for price adjustment must include sufficient documentation supporting the request and demonstrating a logical mathematical link between the current price and the proposed price.

Any adjustment or amendment to the contract will not be effective unless approved by the SLCSD Purchasing Director.

1.11 STANDARD CONTRACT TERMS AND CONDITIONS, EXCEPTIONS, AND NEGOTIATIONS

Any contract resulting from this RFSQ will include, but not be limited to the Salt Lake City School District Standard Terms and Conditions (Attachment A).

Exceptions and/or additions to the Standard Terms and Conditions are strongly discouraged. However, vendors requesting exceptions and/or additions to the Standard Terms and Conditions must be submitted with the SOQ.

Exceptions and/or additions submitted after the date and time for receipt of SOQs will not be considered. Vendors may not submit requests for exceptions and/or additions by reference to a vendor’s website or URL. URLs provided with a SOQ may result in that SOQ being rejected as non-responsive. Vendors may submit questions during the Q&A period regarding the Standard Terms and Conditions.

SLCSD may refuse to negotiate exceptions and/or additions that are determined to be excessive; that are inconsistent with similar contracts of the SLCSD; to warranties, insurance, or indemnification provisions that are necessary to protect the SLCSD after consultation with the Attorney General's Office or other applicable legal counsel; where the solicitation specifically prohibits exceptions and/or additions; or that are not in the best interest of the SLCSD.

If negotiations are required, vendor must provide all documents in Microsoft Word format for redline editing. Vendor must also provide the name, contact information, and access to the person(s) that will be directly involved in legal negotiations.

Any mandatorily required acceptance of a vendor’s terms and conditions may result in the SOQ being determined to be non-responsive.

An award resulting from this RFSQ is subject to successful contract terms and conditions negotiation (if required).

SLCSD, at its sole discretion, will determine when contract terms and conditions negotiations become unproductive and will result in termination of award to that vendor and SLCSD may move to the next eligible vendor.

1.12 PROTECTED INFORMATION

The Government Records Access and Management Act (GRAMA), UCA § 63G-2-305, provides in part that:

the following records are protected if properly classified by a government entity:

(1) trade secrets as defined in Section 13-24-2, the Utah Uniform Trade Secrets Act, if the person submitting the trade secret has provided the governmental entity with the information specified in UCA § 63G-2- 309 (Business Confidentiality Claims);

(2) commercial information or non-individual financial information obtained from a person if:

(a) disclosure of the information could reasonably be expected to result in unfair competitive injury to the person submitting the information or would impair the ability of the governmental entity to obtain necessary information in the future;

(b) the person submitting the information has a greater interest in prohibiting access than the public in obtaining access; and

(c) the person submitting the information has provided the governmental entity with the information specified in UCA § 63G-2-309;

(6) records, the disclosure of which would impair governmental procurement proceedings or give an unfair advantage to any person proposing to enter into a contract or agreement with a governmental entity, except, subject to Subsections (1) and (2), that this Subsection (6) does not restrict the right of a person to have access to, after the contract or grant has been awarded and signed by all parties,…

Process for Requesting Non-Disclosure: Any Vendor requesting that a record be protected shall include with their SOQ a Claim of Business Confidentiality. To protect information under a Claim of Business Confidentiality, the Vendor must complete the Claim of Business Confidentiality form, which is provided as a separate attachment to this solicitation, and include the following information:

1. Provide a written Claim of Business Confidentiality at the time the information (SOQ) is provided to the state, and

2. Include a concise statement of reasons supporting the claim of business confidentiality (UCA § 63G-2- 309(1)).

3. Submit an electronic “redacted” (excluding protected information) copy of the SOQ. Copy must clearly be marked “Redacted Version.”

An entire SOQ cannot be identified as “PROTECTED”, “CONFIDENTIAL” or “PROPRIETARY”, and if so identified, shall be considered non-responsive unless the vendor removes the designation.

Redacted Copy: If a vendor submits a SOQ that contains information claimed to be business confidential or protected information, the vendor must submit two separate SOQs: one redacted version for public release, with all protected business confidential information either blacked-out or removed, clearly marked as "Redacted Version"; and one non-redacted version for evaluation purposes, clearly marked as "Protected Business Confidential."

1.13 INTERVIEWS AND PRESENTATIONS

If it is determined to be in the best interest of the SLCSD, interviews and presentations may be held at the option of SLCSD. SLCSD shall establish a date and time for the interviews or presentations and shall notify eligible vendors of the procedures. Vendors invited to interviews or presentations shall be limited to those vendors meeting any minimum requirements and/or minimum technical score threshold specified in the RFSQ.

Representations made by a vendor during interviews or presentations shall become an addendum to the vendor’s SOQ and shall be documented. Representations must be consistent with the vendor’s original SOQ and may only be used for purposes of clarifying or filling in gaps in the vendor’s SOQ. Interviews and presentations will be at the vendor’s expense.

PART 2: SCOPE OF WORK AND REQUIREMENTS

2.1 DETAILED SCOPE OF WORK AND ADDITIONAL REQUIREMENTS

The SLCSD is soliciting SOQ’s from qualified vendors to provide advice and recommendations in conjunction with current and future debt issuances and obligations.

The anticipated services to be provided by the financial advisor shall include, but are not limited to, the following:

1. Act as an advisor and/or fiduciary to the SLCSD in relation to any transaction;

2. Provide general financial advice in K-12 education, civil, state and federal matters;

3. Prepare, review, consult and approve financial documents and transactions as needed;

4. Work with SLCSD, and others as directed by SLCSD, concerning the legal and financial issues associated with any transactions;

5. Provide advice regarding real estate matters involving land development, buying/selling and trading of real estate;

6. Provide financial advice and contract review/creation related to construction/contractor matters when needed;

7. Assist SLCSD in the preparation, coordination and distribution of printed materials for or related to any transactions, including circulars, press releases, special mailings, etc., in order to acquaint SLCSD’s population with the benefits and financial considerations of any transactions;

8. Prepare financial information and schedules necessary to acquaint SLCSD with the benefits of the various forms of debt financing for any transaction;

9. Provide assistance in the preparation, documentation and execution of municipal bond transactions;

10. Assist in the preparation of a credit presentation for bond rating agencies, bond insurance companies, or others as needed;

11. Arrange for closing and delivery of any bonds;

12. Assist in the collections and preparation of the documents necessary to accomplish any transactions including any related contracts, agreements, or documents related to offering securities either for purchase or sale, all of which shall be appropriately executed and satisfactory to the SLCSD;

13. Attend work sessions and meetings with Board of Education and staff when requested or otherwise be available to SLCSD when called upon at mutually agreed upon times and places;

14. Perform other items deemed necessary and within this general scope of services for the SLCSD.

2.2 MANDATORY MINIMUM REQUIREMENTS/QUALIFICATIONS

This section contains mandatory minimum requirements that must be met in order for an offer to be considered responsive. If required, vendors shall include a detailed narrative outlining how the proposed solution meets the following minimum mandatory requirements. For ease of evaluation, a vendor’s SOQ must be a point-by-point response, addressing in detail each area of the mandatory minimum requirements and/or qualifications.

Failure to meet any one of the mandatory requirements/qualifications will result in the SOQ being rejected pursuant to the Utah Procurement Code and the SOQ will not move forward in the evaluation process.

All of the items described in this section are non-negotiable. A rejection of a SOQ due to a SOQ not meeting mandatory minimum requirements can occur at any time in the evaluation process.

A. Professional and Business License Requirement Vendor shall have and maintain all professional licenses required by the State of Utah. Evidence of required licensing shall be included with the vendor’s SOQ.

B. Confidentiality Agreement Vendor must agree to the confidentiality and non-disclosure terms located within Attachment B. These terms are not negotiable.

C. Disclosure Of Conflicts of Interest Vendor must disclose any current conflicts of interest that may create an issue in accepting a contract award from the SLCSD. If a conflict, or a potential conflict, exists the vendor must describe the manner in which the conflict will be rectified.

D. Page Limitation Vendor is required to limit their submitted proposal to a maximum of thirty (30) pages. This limitation is an all-inclusive total. Any submissions that exceed thirty (30) pages will be deemed non-responsive and automatically rejected.

E. Availability for Interviews As needed, Vendors achieving minimum score thresholds will be asked to demonstrate their proposed solution to the SCLSD evaluation committee. If the evaluation committee determines that interviews are needed, they will be held the week of March 30, 2026 via Zoom, Microsoft Teams, or similar platform.

2.3 DETAILED STATEMENT OF QUALIFICATION

To determine which SOQ provides the best value to SLCSD, the evaluation committee will evaluate each responsive and responsible SOQ that has not been disqualified or rejected using the following criteria:

A. COMPANY EXPERIENCE AND QUALIFICATIONS OF KEY PERSONNEL

i. Provide a narrative outlining the qualifications and history of the company as a whole. Provide an organization chart and brief biographies of executive management.

ii. Provide narratives outlining the training, education, work history, and other qualifications of the key personnel who will be assigned to the SLCSD account on a day-to-day basis. Please include where these individuals will be physically located during the term of this contract. The SLCSD’s preference is to contract with a vendor located in the State of Utah.

iii. Indicate any subcontractors that will be utilized to fulfill any portion of the scope of work. Outline their qualifications and experience.

B. APPROACH TO SCOPE OF WORK AND REQUIREMENTS

Vendor is instructed to provide narratives highlighting their approach to the scope of work outlined in Section 2.1 above. This includes a point-by-point response to RFP Section 2.1. Vendors should give a detailed description of how their proposed team will be able to fully support the SLCSD in any financial issues. Vendors should note which company representative may perform the noted sections of the scope of work.

C. EXPERIENCE WITH K-12 PUBLIC SCHOOLS

Vendor should describe their ability to meet the specific financial needs of the SLCSD. Vendor should demonstrate their specific financial expertise as it relates to public K-12 schools and school districts as a whole.

Please include other ancillary information such as structured support services, dedicated representative for supporting the SLCSD, location of vendor offices within the SLCSD’s geographic boundaries, etc.

D. VALUE-ADDED SERVICES

Provide a narrative outlining additional products or services that have not specifically been asked for, but may aide in fulfilling the noted scope of work (reference Section 2.1 above). Indicate why these additional products or services are needed and the benefit they would bring to the SLCSD. For example, this section may include assisting with finding interim appointments.

E. REFERENCES

Provide the names and contact information for three (3) client references who have utilized your services within the past three (3) years. References should be from school districts of similar or larger size. Private industry references may also be given, but the SLCSD prefers school district references. The SLCSD reserves the right to contact these references for verification. Additionally, the SLCSD reserves the right to contact any known clients of vendor to verify references.

PART 3: INFORMATION REQUIRED IN SUBMISSION OF A SOQ

3.1 SOQ FORMAT

AS NOTED IN SECTION 2.2(D) ABOVE, ALL SOQ’S SHALL BE LIMITED TO A MAXIMUM OF THIRTY (30)

PAGES.

SOQs should be concise, straightforward and prepared simply and economically. Expensive displays, bindings, or promotional materials are neither desired nor required. However, there is no intent in these instructions to limit a SOQ’s content or to exclude any relevant or essential data.

All materials submitted become the property of SLCSD. Materials may be evaluated by anyone designated by SLCSD as part of the SOQ evaluation committee. Materials submitted may be returned only at SLCSD’s option.

Organize the SOQ using each of the following specific headings. Failure to format the SOQ as follows may result in disqualification.

A. Executive Summary

The Executive Summary should be limited to a maximum of two (2) pages. The executive summary is used to briefly describe the vendor’s SOQ. This summary should highlight the major features of the SOQ. It must indicate any requirements that cannot be met by the vendor. The reader should be able to determine the essence of the SOQ by reading the executive summary.

B. Protected Information All protected/proprietary information must be identified in this section of the SOQ by completing the Claim of Business Confidentiality referenced in Section 1.10.

If the vendor’s SOQ contains protected/proprietary information (refer back to the Protected Information section of this RFSQ for additional information), then the vendor must submit a redacted copy of the SOQ at the same time Vendor submits its SOQ. The redacted copy of the vendor’s SOQ must be submitted in compliance with other sections of this RFSQ.

If there is no protected information, write “None” in this section.

Failure to comply with this Section 3.1 and Section 1.13 releases SLCSD from any obligation or liability arising from the inadvertent release of vendor information.

C. Exceptions and/or Additions to the Standard Terms and Conditions Proposed exceptions and/or additions to the Standard Terms and Conditions must be submitted in this section.

Vendor must provide all proposed exceptions and/or additions, including a vendor’s terms and conditions in Microsoft Word format for redline editing. Vendor must also provide the name, contact information, and access to the person(s) that will be directly involved in terms and conditions negotiations. If there are no exceptions or additions to the Standard Terms and Conditions, write “None” in this section.

D. Mandatory Requirements As described in Section 2.2, vendor must provide the required narratives that demonstrate compliance with the stated Mandatory Minimum Requirements/Qualifications. Vendor’s failure to meet any one of the mandatory requirements will result in the SOQ being classified as non-responsive and will be rejected under the provisions of the Utah Procurement Code.

Please provide a response to all requirements noted in Section 2.2 as follows:

1. Professional and Business License Requirement

2. Confidentiality Agreement

3. Disclosure of Conflicts of Interest

4. Page Limitation

5. Availability for Interviews

E. Detailed Statement of Qualifications As described in Section 2.3, this section should constitute the major portion of the SOQ and must be a concise overview of the vendor’s assessment of the work to be performed, the vendor’s ability and approach, and the resources necessary to fulfill the requirements. This section should demonstrate the vendor’s understanding of the desired overall performance expectations, deliverables, if any, and outcomes. Clearly indicate any options or alternatives proposed (if allowed). In any case wherein the vendor cannot comply with an evaluation criterion outlined in Attachment C, such inability must be stated in response to the applicable requirement. Vendors should reference the Scope of Work in Section 2.1 in their response.

SOQs will be evaluated against the SOQ evaluation criteria described in Section 2.3 above and listed on

Attachment C, RFSQ Evaluation Scoresheet. Attachment C provides the scoring methodology, states the relative weight given to each criterion, and any minimum scoring thresholds.

For ease of evaluation, the Detailed Statement of Qualifications section must be a point-by-point response, addressing in detail each area of the evaluation criteria as described in Section 2.3 and noted below:

1. Company Experience and Qualifications of Key Personnel

2. Approach to Scope of Work and Requirements

3. Experience with K-12 Public Schools

4. Value-Added Services

5. References

PART 4: SOQ EVALUATION

4.1 SOQ EVALUATION

All SOQs in response to this RFSQ will be evaluated in a manner consistent with the Utah Procurement Code, Administrative Rules, policies and the evaluation criteria in this RFSQ.

Vendors bear sole responsibility for the items included or not included within the SOQ submitted by the vendor. Each area of the evaluation criteria must be addressed in detail in the SOQ.

4.2 SOQ EVALUATION PROCESS

Step 1: Initial Review In the initial phase of the evaluation process, the Purchasing Department will review all SOQs timely received. Non-responsive SOQs, those not conforming to RFSQ requirements or unable to meet the minimum and/or mandatory requirements, will be eliminated from further consideration.

Step 2: Statement of Qualifications Evaluation Responsive SOQs will then be evaluated by an evaluation committee appointed by the SLCSD against the SOQ evaluation criteria noted in Attachment C. Attachment C establishes any minimum score thresholds for this RFSQ. SOQ’s will be ranked according to their scores from highest to lowest.

4.3 FEE NEGOTIATIONS

Following the SOQ evaluations and pursuant to UCA §63G-6a-Part 15, the SLCSD will enter into negotiations with the highest scoring vendor. If a fair and reasonable contract cannot be negotiated with the highest scoring vendor, the SLCSD will enter into negotiations with the next highest scoring vendor, and so on until a fair and reasonable contract can be established.