Financial Advisory RFP - Cache County.pdf

REQUEST FOR PROPOSAL

Municipal Advisory Services for Cache County, Utah

Cameron Jensen, CPA Cache County Finance Director

179 N Main, Suite 202 Logan, Utah 84321

Cameron.Jensen@CacheCounty.org

Deadline for Submission of Proposals Friday, April 7, 2023

5:00 PM MST

FINANCE 179 N Main Logan, UT 84321 phone 435.755.1700 finance@cachecounty.org

INTRODUCTION

Cache County Government (the County) is requesting proposals for the provision of Municipal Advisory services to the County on an ongoing basis with respect to all bond issuances of the County. For the purposes of this Request for Proposal (RFP), Municipal Advisor shall mean Municipal Advisor as defined by federal laws, regulations, agencies, and commissions, including the Securities and Exchange Commission (SEC), and self-regulatory organizations such as the Municipal Securities Rulemaking Board (MSRB) and the Financial Industry Regulatory Authority

(FINRA).

The primary role of the Municipal Advisor under this contract is to provide advice on all aspects of any proposed capital financing. This includes developing innovative solutions to the County’s funding requirements in order to achieve the most advantageous financing terms; reviewing and making appropriate recommendations on funding for potential projects, creating financial analysis, assisting the County with the selection of underwriting firms and managing the financing process for the County, including but not limited to, consultation and guidance related to rating agency presentations and other presale functions.

This is a qualifications/experience-based selection process. Qualifications, proposals and pertinent experience will be reviewed during evaluation of the proposals. After the evaluation, the County may request in-person interviews, in which case, it is expected that the lead Municipal Advisor will be present. The County reserves the right to negotiate contract costs and terms after the selection process is completed.

Background on the County’s finances is available on the County’s website, www.CacheCounty.org. The County encourages respondents to review that information prior to responding to this RFP.

TERM OF CONTRACT

It is intended that the Municipal Advisor will be selected for a period beginning on May 1, 2023 through December 31, 2027 with potential renewals thereafter. However, the County retains the right to solicit additional Municipal Advisor service proposals at any time solely upon its determination and discretion. The Municipal Advisor selected pursuant to this RFP shall serve at the pleasure of the County and professional services may be terminated with or without cause or at the convenience of the sole discretion of the County at any time for any reason.

SCOPE OF WORK

The selected firm will be responsible for providing the following services:

1. Preparation and Structuring of Bond Issues

2. Market Analysis and Investor Relations

3. Debt Management and Financing

4. Risk Management

The firm will be required to:

1. Advise on the preparation and structuring of bond issues, including the appropriate type of bond and terms and conditions for issuance

2. Conduct market analysis and develop investor relations strategies to ensure successful placement of bonds

3. Advise on debt management and financing strategies, including the appropriate balance of short-term and long-term debt and the use of bond proceeds

4. Provide guidance on risk management strategies and evaluate potential risks associated with the issuance and management of government bonds

ELIGIBILITY CRITERIA

To be eligible for consideration, firms must meet the following requirements:

1. Be an independent Municipal Advisory firm, fully registered with both the Securities and Exchange Commission and with the Municipal Securities Rulemaking Board

2. Have a minimum of 10 years of experience in providing financial advisory services for government bonds

3. Have a track record of successful bond issuances for government entities

4. Have a team of experienced professionals with expertise in bond structuring, debt management, market analysis, investor relations, and risk management

5. Have a valid license to operate in the state of Utah

TIME SCHEDULE

The County expects to observe the following schedule regarding selection of a Municipal Advisor:

Monday, March 16, 2023 Distribution of Request for Proposals

Friday, April 7, 2023 Deadline for Proposals to be Submitted

Monday, April 17, 2023 Tentative Date for In-Person Interviews (if needed)

Friday, April 28, 2023 Selection of Municipal Advisor

SUBMISSION OF PROPOSALS

Interested firms are required to submit a technical proposal and a financial proposal separately.

The technical proposal should include the following:

1. A description of the firm's experience and expertise in providing financial advisory services for government bonds.

2. A proposed methodology for the provision of the services.

3. A list of similar projects completed by the firm in the past five years.

4. A list of the proposed team members and their qualifications and experience.

5. A work plan and timeline for the provision of the services.

The financial proposal should include a detailed breakdown of the costs associated with the provision of the services.

An original copy of the proposal must be delivered to:

Cameron Jensen, CPA Cache County Finance Director

179 N Main Logan, UT 84321

The proposal should be submitted in a sealed envelope and clearly marked "Proposal for Financial Advisory Services for Cache County Government Bonding" and addressed to the Cache County Finance Director at the address provided above. No proposal will be considered unless received by 5:00 PM MDT on Friday, April 7, 2023.

In addition to the original copy, an additional email copy must be sent to the Finance Director at Cameron.Jensen@CacheCounty.org by the due date and time. The email copy should be in PDF format.

CONTACT INFORMATION

For any questions or clarifications, please contact Cameron Jensen, Cache County Finance Director, at Cameron.Jensen@CacheCounty.org or 435-755-1855.