MA 2019 RFQ final.docx

STATE OF ILLINOIS

REFERENCES

The Governor’s Office of Budget and Management (GOMB) requests proposals from responsible Offerors to meet its needs. A brief description is set forth below for the Offeror’s convenience, with detailed requirements in subsequent sections of this solicitation. If interested and able to meet these requirements, the State appreciates and welcomes an Offer.

Brief Description:

The Governor’s Office of Management and Budget is seeking to select a pool of qualified Municipal Advisors to assist with the issuance of State debt, develop rating agency strategies, analyze refunding structures, develop and execute strategies to manage its debt portfolio and other debt management initiatives. Firms acting in this role must have demonstrated expertise in the areas outlined above. Bond issues may be “competitive” or “negotiated” bond sale structures.

GOMB expects our pool of qualified Municipal Advisors to also serve as the State’s Independent Registered Municipal Advisor (“IRMA”) and sign a letter to that effect which will be posted on our website. The State anticipates maintaining a pool of up to six (6) firms.

The resulting qualified pool shall have an initial term of three (3) years. In no event will the total term of the pool, including the initial term, any renewal terms, and any extensions exceed ten (10) years. 30 ILCS 500/20-60. Subject to the maximum total term limitation, GOMB reserves the option to renew for the following terms: up to four years, whether exercised at once or by other combination of time, and whether exercised with respect to the entire pool or a portion thereof.

Please read the entire solicitation package and submit an Offer in accordance with the instructions. All forms and signature areas contained in the solicitation package must be completed in full and submitted along with the technical response and price proposal which combined will constitute the Offer. Do not submit the instruction pages with Offers.

Forms A, Forms B, BEP Utilization Plan, and VSB Utilization Plan may be downloaded from the Chief Procurement Officer for General Service’s website at https://www2.illinois.gov/cpo/general/Pages/SolicitationandContractTemplates.aspx . These sections are a material part of this solicitation, and must be returned when applicable with a Offeror’s Offer.

Offers that do not adhere to the form and content of the Request for Qualifications requirements may not be considered.

STATE OF ILLINOIS

REQUEST FOR QUALIFICATIONS

Municipal Advisory Services

20 OMB 01

DUE DECEMBER 20, 2019, 1 p.m. CENTRAL TIME

In compliance with the State and Federal Constitutions, the Illinois Human Rights Act, the U.S. Civil Rights Act, and Section 504 of the Federal Rehabilitation Act, the State of Illinois does not discriminate in employment, contracts, or any other activity.

The State of Illinois encourages prospective vendors to consider hiring qualified veterans and Illinois residents discharged from any Illinois adult correctional center, in appropriate circumstances.

State of Illinois RFP 1 Introduction V.20.1

SECTION 1.

SECTION 2

Pricing E.

SECTION 3.

The following sections (FORMS A, FORMS B, BEP Utilization Plan, VSB Utilization Plan, Letter of Intent) of the solicitation may be found on the CPO’s website at:

https://www2.illinois.gov/cpo/general/Pages/SolicitationandContractTemplates.aspx

FORMS A

Complete this section if you are not using a State of Illinois Vendor Registration Number which represents registration in the Illinois Procurement Gateway (IPG).

FORMS B

Complete this section if you are using an active State of Illinois Vendor Registration Number.

To ensure that you are registered in the IPG, search for your business name in the IPG Registered Vendor Directory. If your company does not appear in the search results, then you are not registered in the IPG.

Download from the CPO’s website and complete these documents if this RFP contains a Business Enterprise Program (BEP) goal.

BEP Utilization Plan Letter of Intent Template

Download from the CPO’s website and complete these documents if this RFP contains a Veteran Small Business Program (VBP) goal.

Veteran Small Business Utilization Plan Letter of Intent Template

OUTLINE

State of Illinois RFP 4

OUTLINE

V.20.1

SECTION 1.

A. INSTRUCTIONS FOR SUBMITTING OFFERS

A.1. PROCESS CHANGES RESULTING FROM BIDBUY: BidBuy is the new electronic procurement system being used by State agencies under the jurisdiction of the Chief Procurement Officer for General Services. With the implementation of BidBuy, some procurement processes have changed. In some instances, BidBuy entirely replaces the State’s previous procurement processes. In others, the past instruction or process remains unchanged or is augmented by BidBuy.

The State publishes Requests for Proposals (RFP) in BidBuy. BidBuy consists of public webpages that may be referred to as the “Bulletin” or information “on BidBuy”. BidBuy also permits vendors to create password protected Seller Accounts allowing electronic quoting for some procurement methods. The RFP, along with other attachments and information on BidBuy, constitutes the State’s solicitation. The State does not accept electronic offers in response to RFPs through BidBuy. Offerors must continue to submit offers in paper format and in accord with the instructions for submission. Offerors must pay special attention to the instructions found on BidBuy as they augment the information in this RFP. Offerors shall read the entire contents of this RFP and direct any questions to the Information Contact found on the BidBuy posting.

A.2. CONFLICT BETWEEN INFORMATION IN PAPER FORMAT AND ON BIDBUY: If the State provides information in paper format (i.e. the RFP and other attachments) that is different or in conflict with the information the State provides on BidBuy, then the information in paper format is presumed to represent the State’s intent. If the Offeror provides information in paper format that is different or in conflict with the information the Offeror provides in BidBuy through their Seller Account, then the information in paper format shall represent the Offeror’s intended submission.

A.3. HOW TO ENTER INFORMATION: Type information in the red text form fields provided. If the information requested does not apply to the Offeror’s situation, then enter “N/A” into the text form field. Please enter the requested information or N/A into every text form field.

A.4. PUBLISHED PROCUREMENT INFORMATION: The State publishes procurement information, including solicitations, awards, and amendments, on the General Services Illinois Procurement Bulletin, referred to as the Bulletin or BidBuy (https://www.bidbuy.illinois.gov/bso/). Procurement information may not be available in any other form or location. Offeror is responsible for monitoring the Bulletin. The State will not be held responsible if Offeror fails to receive the optional e-mail notice of future amendments to the solicitation.

A.5. INFORMATION CONTACT: The individual listed in the “Info Contact:” on the Bulletin posting shall be the single point of contact for this solicitation. Unless otherwise directed, Offerors should only communicate with the Information Contact. The State/Agency shall not be held responsible for information provided by or to any other person.

The State shall not be held responsible for information provided by or to any other person. Suspected errors should be immediately reported to the Information Contact. Do not discuss, directly or indirectly, the solicitation or any Offer with any State officer or employee other than the Information Contact.

Street Address: 100 W. Randolph St., Suite. 15-100

City, State Zip: Chicago, IL 60601

Email: ambrose.donnelly@illinois.gov

A.6. OFFEROR QUESTIONS AND AGENCY RESPONSE: All questions pertaining to this solicitation must be submitted in writing to the Information Contact no later than December 5, 2019. Questions received and Agency responses may be posted as an Amendment to the original solicitation on the Bulletin; only these posted answers to questions shall be binding on the State. Offerors are responsible for monitoring the Bulletin. There will be no pre-submission conference.

A.7. OFFER DUE DATE, TIME, AND ADDRESS FOR SUBMISSION OF OFFERS: Each solicitation contains the Offer Due Date and Time appearing as the “Bid Opening Date:” on the Bulletin posting. Offers will be opened at the Submit/Deliver Offers To address provided below on the “Bid Opening Date:”

A.7.1. Offer Firm Time: The Offer must remain firm for 180 days from opening.

Offeror City, State Zip

A.8. ORGANIZATION REQUIRED: Offers may be submitted in as few as four and as many as seven packets. Please follow these instructions carefully. Separately seal and label each packet.

A.8.1. Packet 1 shall contain the Offeror’s response to the Specifications/Qualifications/Statement of Work provided in Section 1, Part D.

A.8.2. Packet 2 shall contain Offeror’s Pricing provided in Section 2, Part E.

A.8.3. Packet 3 shall contain the Offeror’s Offer found in Section 1, Part C, and applicable forms found in Section 3, Parts F through J.

A.8.3.1. Exceptions must be provided on Agency’s Exceptions to Solicitation and Contract Terms and Conditions form (Section 3, Part G) or must be in a substantially similar format. Agency discourages taking exceptions. State law shall not be circumvented by the exception process. Exceptions may result in rejection of the Offer.

Additional Offeror Provisions may be stated on this form and should not include exceptions to Agency specifications, terms and conditions, or any other part of this solicitation. This is supplemental information that supports an Offeror’s position; for example, an Offeror’s licensing agreement.

A.8.3.2. The Agency may state additional terms and conditions to contracting in the State Supplemental Provisions (Section 3, Part H).

A.8.4. Packet 4 shall contain either Forms A or Forms B. Forms A contains eight forms and shall be returned by Offerors that do not have an active registration in the Illinois Procurement Gateway (IPG).

Forms B consists of two pages and a one-page Taxpayer Identification Number. Forms B is only returned by Offerors that have a valid IPG registration number with expiration date and elect to not use the forms found in Forms A.

A.8.5. Packet 5 shall contain a redacted copy of the Offer.

A.8.5.1. Offeror should provide a redacted copy of the Offer, if applicable, that removes material considered to be a trade secret or competitively sensitive, confidential, or proprietary. See F.9. in Standard Terms and Conditions, Section 3, Part F.

A.8.6. Packet 6 shall contain a response to the Minorities, Women, and Persons with Disabilities participation requirements. Packet 6 is only returned if a Business Enterprise Program goal is stated in the Bulletin posting.

A.8.7. Packet 7 shall contain a response to the Veteran Small Business (VSB) participation requirements. Packet 7 is only returned if a VSB goal is stated in the Bulletin posting.

A.9. SUBMISSION OF OFFERS: The Offer must be submitted in separately sealed packets as indicated below and clearly labeled with the Request for Proposal title, the BidBuy reference number, the packet number, the Offeror’s name and the wording: “Sealed Offer – Do Not Open.” The separately sealed packets may be submitted together in one mailing/shipping box or may be submitted separately in individual/shipping boxes. Do not put the entire Offer on a single CD or USB flash drive. Pricing must always be on a separate CD or USB flash drive unless otherwise instructed.

2 flash drives

A.10. SECURITY: Performance Bond: $N/A A.11. MINORITY CONTRACTOR INITIATIVE: The State requires a fee of $15 to cover expenses related to the administration of the Minority Contractor Opportunity Initiative. Any offeror awarded a contract of $1,000 or more under Section 20-10, 20-15, 20-25 or 20-30 of the Illinois Procurement Code (30 ILCS 500) is required to pay a fee of $15. The Comptroller shall deduct the fee from the first check issued to the Vendor under the contract and deposit the fee in the Comptroller’s Administrative Fund. 15 ILCS 405/23.9.

A.12. FEDERAL FUNDS: The resulting contract may be partially or totally funded with Federal funds. Upon notice of intent to award, the percentage of goods and/or services involved that are Federally funded and the dollar amount of such Federal funds will be disclosed.

A.13. EMPLOYMENT TAX CREDIT: Offerors who hire qualified veterans and certain ex-offenders may be eligible for tax credits. 30 ILCS 500/45-67 and 45-70. Please contact the Illinois Department of Revenue (217-524-4772) for information about tax credits.

A.14. GOVERNING LAW AND FORUM: Illinois law and rules govern this solicitation and any resulting contract. Offeror must bring any action relating to this solicitation or any resulting contract in the appropriate court in Illinois. This document contains statutory references designated with “ILCS”. Offeror may view the full text at http://www.ilga.gov/legislation/ilcs/ilcs.asp. The Illinois Procurement Code (30 ILCS 500) and the Standard Procurement Rules (44 ILL. ADM. CODE PARTS 1) are applicable to this solicitation and may be respectively viewed at http://www.ilga.gov/legislation/ilcs/ilcs5.asp?ActID=532&ChapterID=7) and http://www.ilga.gov/commission/jcar/admincode/044/044parts.html.

A.15. PUBLIC RECORDS AND REQUESTS FOR CONFIDENTIAL TREATMENT: Offers become the property of the State and late submissions will not be returned. All offers will be open to the public under the Illinois Freedom of Information Act (FOIA) (5 ILCS 140) and other applicable laws and rules, unless Offeror requests in its Offer that the State treat certain information as confidential. A request for confidential treatment will not supersede the State’s legal obligations under FOIA. The State will not honor requests to keep entire Offers confidential. Offerors must show the specific grounds in FOIA or other law or rule that support confidential treatment. Regardless, the State will disclose the successful Offeror’s name, the substance of the Offer, and the price.

If Offeror requests confidential treatment, Offeror must submit additional copy/copies (see Instructions for Submission of Offers in Section A.10.) of the Offer with proposed confidential information redacted. This redacted copy must tell the general nature of the material removed, and shall retain as much of the Offer as possible. In a separate attachment, Offeror shall supply a listing of the provisions identified by section number for which it seeks confidential treatment and identify the statutory basis or bases under Illinois law, including a detailed justification for exempting the information from public disclosure.

Offeror will hold harmless and indemnify the State for all costs or damages associated with the State defending Offeror’s request for confidential treatment. Offeror agrees that the State may copy the Offer to facilitate evaluation, or to respond to requests for public records. Offeror warrants that such copying will not violate the rights of any third party.

A.16. RESERVATIONS: Offeror must read and understand the solicitation and tailor the Offer and all activities to ensure compliance. The State reserves the right to amend the solicitation, reject any or all offers, award by item/services, group of items/services, or grand total, and waive minor defects. The State may request a clarification, inspect Offeror’s premises, interview staff, request a presentation, or otherwise verify the contents of the Offer, including information about subcontractors and suppliers. The State may request Best & Final Offers when appropriate. The State will make all decisions on compliance, evaluation, and terms and conditions, and shall make decisions in the best interests of the State and in accordance with the Illinois Procurement Code, rules and other applicable State and Federal statutes and regulations. This competitive process may require that Offeror provide additional information and otherwise cooperate with the State. If an offeror does not comply with requests for information and cooperate, the State may reject the offer as non-responsive to the solicitation. Submitting an offer does not entitle Offeror to an award or a contract. Posting a vendor’s name in a Bulletin notice does not entitle the vendor to a contract. The State is not responsible for and will not pay any costs associated with the preparation and submission of any offer. Awarded Offeror(s) shall not commence, and will not be paid for any billable work undertaken prior to the date all parties execute the contract, unless approved in writing in advance by the State Purchasing Officer or the Chief Procurement Officer (or designee).

A.17. AWARD: The State is not obligated to select a qualified pool pursuant to this solicitation.

A.18. REFERENCES: |X| Yes |_| No. If “Yes” is marked, Offeror must provide references from established private firms or government agencies other than the procuring Agency, who can attest to Offeror’s experience and ability to perform the services that are the subject of this solicitation. Offeror must provide the name, contact information and a description of the supplies or services provided using the References form found in Section 3, Part J.

A.19. INVOICING ADDRESS: The awarded Vendor shall invoice at the completion of the contract unless invoicing is tied in the contract to milestones, deliverables, or other invoicing requirements agreed to in the contract. The Bulletin posting contains the “Bill-to Address:” where invoices should be sent.

Vendor shall not bill for any taxes unless accompanied by proof that the State is subject to the tax. If necessary, Vendor may request the applicable Agency’s Illinois tax exemption number and Federal tax exemption information.

A.20. PROTEST REVIEW OFFICE: Offeror may submit a written protest to the Protest Review Office following the requirements of the Standard Procurement Rules. 44 ILL. ADM. CODE 1500.5550. For protests related to specifications, the Protest Review Office must physically receive the protest no later than fourteen (14) days after the solicitation or related addendum was posted to the Bulletin. For protests related to rejection of individual proposals or awards, the protest must be received by close of business no later than fourteen (14) days after the protesting party knows or should have known of the facts giving rise to the protest. The Protest Review Office’s information is as follows:

Governor’s Office of Management and Budget Attn: Protest Review Office

Springfield, IL 62706 A.21. EVALUATION PROCESS: The State determines how well offers meet the Responsiveness requirements. The State will rank offers, without consideration of price, from best to least qualified using a point ranking system (unless otherwise specified) as an aid in conducting the evaluation. Offerors who fail to meet minimum requirements or who receive fewer than the minimum required points, if any, will not be considered for price evaluation and award.

The State evaluates three categories of information: Responsibility, Responsiveness, and Price. The State considers the information provided and the quality of that information when evaluating Offers. If the State finds a failure or deficiency, the State may reject the offer or reflect the failure or deficiency in the evaluation.

A.21.1. RESPONSIVENESS: A Responsive Offeror is one who submits an offer that conforms in all material respects to the Request for Proposal, and includes all required forms.

A.21.1.1. References: If references are required, then Offeror shall complete and return the References form in Section 3, Part J.

A.21.1.2. If completing Forms B, then responsiveness may include and may not be limited to:

· Active Illinois Procurement Gateway registration # with expiration date

· Disclosure of lobbyists for Offeror and parent entity(ies)

· Disclosure of pending and current contracts

· Certifications timely to this solicitation A.21.1.3. If completing Forms A, required forms may include and may not be limited to:

· Business and Directory Information: Offeror should complete and return the Business and Directory Information form in Forms A , Part 1.

· Illinois Department of Human Rights Public Contracts Number: Offeror shall complete and return the IDHR Public Contracts Number form in Forms A , Part 2.

· Authorized to Transact Business or Conduct Affairs in Illinois: A person (other than an individual acting as a sole proprietor) must be a duly constituted legal entity prior to submitting a bid and authorized to transact business or conduct affairs in Illinois prior to execution of the contract. For more information, see Authorized to Transact Business or Conduct Affairs in Illinois in Forms A, Part 3.

· Standard Certifications: Offeror shall complete and return the Standard Certifications form in Forms A , Part 4.

· State Board of Elections Registration: Offeror may be prohibited from making political contributions and be required to register with the State Board of Elections. For more information, see State Board of Elections in Forms A, Part 5.

· Disclosure of Business Operations with Iran: Offeror should complete and return the Disclosure of Business Operations with Iran form in Forms A , Part 6.

· Financial Disclosures and Conflicts of Interest: Offeror shall complete and return the Financial Disclosures and Conflicts of Interest form in Forms A , Part 7.

· Taxpayer Identification Number: Offeror should complete and return the Taxpayer Identification form in Forms A , Part 8.

A.21.1.4. The State will determine whether the Offer meets the stated requirements. Minor differences or deviations that have negligible impact on the price or suitability of the supply or service to meet the State’s needs may be accepted or corrections allowed. If no offeror meets a particular requirement, the State may waive that requirement.

A.21.1.5. The State will determine whether the Offer complied with the instructions for submitting offers. Except for late submissions, and other requirements that by law must be part of the submission, the State may require that an offeror correct deficiencies as a condition of further evaluation.

A.21.2. RESPONSIBILITY: A responsible Offeror is one who has the capability in all respects to perform fully the contract requirements and who has the integrity and reliability that will assure good faith performance. The State determines whether the Offeror is a “responsible” offeror; an offeror with whom the State can or should do business. For example, the State may consider the following:

A.21.2.1. A “prohibited bidder” includes any person assisting an employee of the State of Illinois by reviewing, drafting, directing, or preparing any invitation for bids, a request for proposal, or request of information, or providing similar assistance unless such assistance was part of a publically issued opportunity to review drafts of all or part of these documents. For purposes of this section, an employee of the State of Illinois means one who, by the nature of his or her duties, has the authority to participate personally and substantially in the decision to award a State contract. No person or business shall submit specifications to a State agency unless requested to do so by an employee of the State. No person or business that contracts with a State agency to write specifications for a particular procurement need shall submit a bid or proposal or receive a contract for that procurement need.

Nothing herein is intended to prohibit a vendor from bidding or offering to supply developing technology, goods or services after providing the State with a demonstration of the developing technology, goods, or services; provided the subject of the demonstration to the State represents industry trends and innovation and is not specifically designed to meet the State's needs. Nothing herein is intended to prohibit a person or business from submitting a bid or offer or entering into a contract if the person or business: (i) initiates a communication with an employee to provide general information about products, services, or industry best practices and, if applicable, that communication is documented in accordance with Section 50-39 of the Illinois Procurement Code or (ii) responds to a communication initiated by an employee of the State for the purposes of providing information to evaluate new products, trends, services, or technologies.

A.21.2.2. Other factors that the State may evaluate to determine responsibility include, but are not limited to: political contributions, certifications, conflict of interest, financial disclosures, taxpayer identification number, past performance in business or industry, references (including those found outside the Offer), compliance with applicable laws, financial responsibility, insurability, effective equal opportunity compliance, payment of prevailing wages if required by law, capacity to produce or sources of supply, and the ability to provide required maintenance service or other matters relating to the offeror’s ability to deliver in the quality and quantity within the time and price as specified in this solicitation.

A.21.2.3. Awarded offerors must at all times have financial resources sufficient, in the opinion of the State, to ensure performance of the contract and must provide proof upon request. The State may require a performance bond if, in the opinion of the State, it ensures performance of the contract. The State may terminate the contract, consistent with the termination for cause provision of the contract, if the vendor lacks the financial resources to perform under the contract.

A.21.2.4. The State may require that an offeror correct any deficiencies as a condition of further evaluation.

A.21.3. PRICE: The State identifies the lowest priced offer that meets the responsibility and responsiveness requirements.

A.22. BUSINESS ENTERPRISE FOR MINORITIES, WOMEN, AND PERSONS WITH DISABILITIES ACT PARTICIPATION AND UTILIZATION PLAN: The Bulletin posting indicates whether this solicitation contains a goal to include businesses owned and controlled by minorities, women, and persons with disabilities. If this solicitation is for non-construction supplies or services and contains a goal, then failure to submit a Utilization Plan shall render the Offer non-responsive. 30 ILCS 575/4(f). All questions regarding the subcontracting goal must be directed to the Agency Business Enterprise Program (BEP) Liaison prior to submission of proposals.

BEP Liaison: Yvette Riley

Phone Number: 312-814-1089

Email Address: Yvette.Riley2@illinois.gov

Businesses included in Utilization Plans as meeting BEP requirements as prime vendors or subcontractors must be certified by the Department of Central Management Services as BEP vendors prior to the Bid Opening Date. Go to https://www2.illinois.gov/cms/business/sell2/bep/Pages/default.aspx for complete requirements for BEP certification. Go to https://cms.diversitycompliance.com/ to search for certified BEP vendors.

A.23. VETERAN SMALL BUSINESS PARTICIPATION AND UTILIZATION PLAN: The Bulletin posting indicates whether this solicitation contains a goal to include businesses owned and controlled by military veterans. If this solicitation contains a goal, then failure to submit a Utilization Plan as instructed later in this solicitation may render the Offer non-responsive. All questions regarding the subcontracting goal must be directed to the Agency Veteran Small Business Liaison prior to submission of proposals.

Veteran Small Business Liaison: Elias Ngwayah

Phone Number: 312-814-5628

Email Address: Elias.Ngwayah@illinois.gov.

Businesses included in Utilization Plans as meeting Veteran Owned Small Business (VOSB) and Service Disabled Veteran Owned Small Business (SDVOSB) requirements as prime vendors or subcontractors must be certified by CMS as VOSB or SDVOSB vendors prior to Bid opening date. Go to https://www2.illinois.gov/cms/business/sell2/pages/veteranownedbusinesses.aspx for complete requirements for VOSB or SDVOSB certification. Go to https://cms.diversitycompliance.com/ to search for certified VOSB and SDVOSB vendors.

A.24. BIDBUY TERMINOLOGY AND GUIDANCE: BidBuy is an online e-procurement system. There may be some difference between the procurement terminology used in this solicitation and the terms used in BidBuy. Please learn more about BidBuy by accessing the online resources found here:

https://www2.illinois.gov/cpo/PathwayToProcurement/Pages/Guides-and-Manuals.aspx.

-END OF INSTRUCTIONS-

STATE OF ILLINOIS

SUBCONTRACTOR DISCLOSURES

ATTACHMENT FF

INSTRUCTIONS FOR SUBMITTING OFFERS

State of Illinois RFP 30 Attachment FF– Subcontractor Disclosures V.13.3 State of Illinois RFP 14 Section 1. Part A.Instructions V.20.1

B. SELECTION OF VENDOR

B.1. The State may award to the most responsive and responsible Offeror whose Offer best meets the below criteria.

B.2. The State determines how well Offers meet the responsiveness requirements. The State ranks Offers, without consideration of price, from best to least qualified using a point ranking system (unless otherwise specified) as an aid in conducting the evaluation. Offerors who receive fewer than the minimum required points will not be considered for price evaluation and award.

B.3. If the State does not consider the price to be fair and reasonable and negotiations fail to meet an acceptable price, the State reserves the right to cancel the award and take appropriate action to meet the needs of the State. The State determines whether the price is fair and reasonable by considering the Offer, including the Offeror's qualifications, the Offeror's reputation, all prices submitted, other known prices, the project budget, and other relevant factors.

B.4. The chart below shows the elements of responsiveness that the State evaluates, their relative weights in point format and any minimum point requirements.

B.4.1. The total number of points for responsiveness is 150.

B.4.2. RESPONSIVENESS ELEMENTS

As described with accompanying maximum points for each question.

B.5. The maximum number of points is 150 (Responsiveness 150 ).

SELECTION OF VENDOR

State of Illinois RFP 15 Section 1. Part B. Selection of Vendor V.20.1 C. Project Title / Reference # Municipal Advisory Services #20 OMB 01 The undersigned authorized representative of the identified Offeror hereby submits this Offer to perform in full compliance with the subject solicitation. By completing and signing this form, the Offeror makes an Offer to the State of Illinois that the State may accept.

Offeror should use this form as a final check to ensure that all required documents are completed and included with the Offer. Offeror must mark each blank below as appropriate; mark N/A when a section is not applicable to this solicitation. Offeror understands that failure to meet all requirements is cause for disqualification.

C.1. SOLICITATION AND CONTRACT REVIEW: Offeror reviewed the Request for Proposal, including all referenced documents and instructions, completed all blanks, provided all required information, and demonstrated how it will meet the requirements of the State of Illinois.

|_| Yes |_| No C.2. ADDENDA: Offeror acknowledges receipt of any and all addenda to the solicitation and has taken those into account in making this Offer.

|_| Yes |_| No|_| N/A C.3. OFFER SUBMISSION: Offeror is submitting the correct number of copies, in a properly labeled container(s), to the correct location, and by the due date and time.

|_| Yes |_| No C.4. FORMS A or FORMS B: Offeror is properly submitting either Forms A or Forms B, but not both.

|_| Yes |_| No C.5. BOND: If applicable, Offeror is submitting its Bid Bond or Performance Bond.

|_| Yes |_| No |X| N/A

C.6. PACKET 1 – SPECIFICATIONS/QUALIFICATIONS/STATEMENT OF WORK

|_| Yes |_| No

C.7. PACKET 2 – PRICING

C.8. PACKET 3 – OFFER

|_| Yes |_| No

C.9. PACKET 4 – FORMS A

C.10. PACKET 4 – FORMS B

C.11. PACKET 5 – REDACTED OFFER

C.12. PACKET 6 – BEP UTILIZATION PLAN

C.13. PACKET 7 – VSB UTILIZATION PLAN

C.14. PREFERENCES

The Illinois Procurement Code provides various preferences to promote business opportunities in Illinois.

Does Offeror make any claims for preferences? If so, please mark the applicable preference(s) and include a listing of the items that qualify for the preference at the end of this Section and a description of why the preference applies. Agency reserves the right to determine whether the preference indicated applies to Offeror.

|_| Resident Bidder (30 ILCS 500/45-10).

|_| Soybean Oil-Based Ink (30 ILCS 500/45-15).

|_| Recycled Materials (30 ILCS 500/45-20).

|_| Recycled Paper (30 ILCS 500/45-25).

|_| Environmentally Preferable Supplies (30 ILCS 500/45-26).

|_| Correctional Industries (30 ILCS 500/45-30).

|_| Not-for-Profit Agencies for Persons with Significant Disabilities (30 ILCS 500/45-35).

|_| Gas Mileage (30 ILCS 500/45-40).

|_| Small Businesses (30 ILCS 500/45-45).

|_| Illinois Agricultural Products (30 ILCS 500/45-50).

|_| Corn-Based Plastics (30 ILCS 500/45-55).

|_| Disabled Veterans (30 ILCS 500/45-57).

|_| Vehicles Powered by Agricultural Commodity-Based Fuel (30 ILCS 500/45-6) |_| Biobased Products (30 ILCS 500/45-75).

|_| Historic Preference Area (30 ILCS 500/45-80).

|_| Procurement of Domestic Products (30 ILCS 517).

|_| Public Purchases in Other States (30 ILCS 520).

|_| Illinois Mined Coal (30 ILCS 555).

|_| Steel Products Procurement (30 ILCS 565).

|_| Business Enterprise for Minorities, Women, and Persons with Disabilities Act (30 ILCS 575).

|_| Veterans Preference (330 ILCS 55).

Items that Qualify and Explanation: Click here to enter text.

Signature of Authorized Representative:

Printed Name of Signatory: Click here to enter text.

Offeror’s Name: Click here to enter text.

Date: Click here to enter a date.

OFFER TO THE STATE OF ILLINOIS

State of Illinois RFP 19 Section 1. Part C. Offer to the State of Illinois V.20.1

D. SPECIFICATIONS/QUALIFICATIONS/STATEMENT OF WORK

D.1. GOAL: The Governor’s Office of Management and Budget is seeking to select a pool of qualified Municipal Advisors to assist with the issuance of State debt, develop rating agency strategies, analyze refunding structures, develop and execute strategies to manage its debt portfolio and other debt management initiatives. Firms acting in this role must have demonstrated expertise in the areas outlined above. Bond issues may be “competitive” or “negotiated” bond sale structures. GOMB expects our pool of qualified municipal advisors to also serve as the State’s Independent Registered Municipal Advisor (“IRMA”) and sign a letter to that effect which will be posted on our website. The State anticipates maintaining a pool of up to six (6) firms.

D.2. SERVICES REQUIRED:

1. Review underwriter financing ideas as requested.

2. Participate in meetings and conference calls with State staff, underwriters, bond counsel and other bond financing team members as needed.

3. Analyze the cost-benefit of different bond structuring and pricing options. This includes but is not limited to insured bonds versus uninsured, evaluating couponing structures and callable versus non-callable bonds.

4. Assist with developing and executing strategies to lower the all-in borrowing costs of the state’s debt portfolio and to identify and mitigate risks associated with the portfolio.

5. Advise the State of particularly advantageous times to enter the market.

6. Advise on rating agency matters and strategies for agency meetings including the preparation of rating agency presentations and a synopsis of their likely concerns, and potential questions and answers.

7. Participate in all pricing discussions. Provide data regarding rates on comparable issues in the market shortly before and concurrent with the sale of the State’s securities and different indices that can be used to assist in pricing discussions.

8. Provide market and regulatory updates as applicable.

9. Participate in bond document review and due diligence sessions. Coordinate with the State and counsel to ensure compliance with federal tax law.

10. Independently evaluate the underwriter’s quantitative analysis related to the bond sizing, structure and flow of funds.

11. Participate in post-financing review as directed by the State. This work will include a report addressing how the State’s bonds priced relative to market indices, comparables and any goals established prior to sale and secondary market trade activity.

12. Provide such other municipal advisory services as requested by the State.

D.3. MILESTONES AND DELIVERABLES: N/A

D.4. OFFEROR / STAFF SPECIFICATIONS: N/A

D.5. OFFEROR’S PROPOSED SOLUTION TO MEET THE STATE’S REQUIREMENTS: Please either respond in the space below or in the following prescribed format:

A. Please answer all questions in Section A as succinctly as possible to qualify for the State’s Municipal Advisor pool. Please limit your responses to twenty (20) pages for Section A.

1. Make an affirmative statement that your firm is registered with the SEC and MSRB as a Municipal Advisor. Please provide relevant documentation showing compliance with the municipal advisor registration requirements for these entities. (Threshold question)

2. Discuss your firm’s experience in public finance, including strengths with competitive and negotiated sales and with refunding transactions. In an appendix, please list up to twenty (20) Illinois and state-level municipal bond transactions of more than $100 million for which your firm acted as municipal advisor within the past two years. Please briefly summarize your role in each transaction. (20 pts.)

3. List all team members who will participate on the State’s financings, their direct experience with Illinois credits and state-level credits, and the roles they will play on State transactions. Please provide a brief biographical sketch on each, include experience on transactions, the role in each transaction, the size of each transaction and type of credit. Please limit your response to the past two years (since November 2017). (15 pts.)

4. Please describe the manner and degree to which the firm: (15 pts.)

a. Is a minority- or female-owned firm

b. Is a certified BEP firm with the State of Illinois per section A.24 of this RFP

c. Is veteran-owned firm

d. Percentage of team that is minority, female, veteran and / or disabled

5. Explain the manner and degree to which the firm operates or is otherwise present in the State of Illinois. (10 pts.)

6. Describe an instance where your firm issued bonds in a challenging market or priced a challenging credit and how those challenges were overcome. (10 pts.)

7. Review and respond to the following hypothetical: Discuss a plan of finance for the issuance of $2 billion of new money General Obligation Bonds for capital purposes (in up to two separate issuances), and General Obligation refunding bonds in FY 2021. Given existing statutes, discuss your recommendations as to how the State should structure and market these bonds, include the strategies your firm would use to negotiate the lowest borrowing cost, and suggest timing of the sales. Discuss what challenges you think the State would face in bringing these bonds to market and provide suggestions as to how those challenges would be overcome. Please include talking points for a rating agency and investor presentation. (40 pts.) Limit response to four (4) pages.

8. Please discuss your experience with developing new credits and key points of consideration in developing new bonding structures. Limit your response to one (1) page or less, and in this response please note considerations for not impacting existing credits. Also please succinctly note which rating agencies you would consider for a new credit / structure. (10 pts.)

9. Discuss how your firm would approach a refunding transaction for the State. Include a description of the analysis your firm would provide and suggested parameters to optimize savings while minimizing structuring bonds and negative arbitrage. (10 pts.)

10. In light of the State’s Rebuild Illinois program, which has authorized $22.6 billion in bonding authority among its two credits, please briefly discuss an overall strategy for issuing this amount over the next 6+ years to allow for optimal market positioning going forward. (10 pts.)

11. Please discuss your firm’s approach to evaluating underwriter performance. (5 pts.)

12. Please discuss your firm’s approach to advising issuers through the rating process; briefly touch on each rating agency to the extent not discussed in question 7. (5 pts.)

D.6. SUBCONTRACTING

1. Subcontractors are not allowed.

D.7. WHERE SERVICES ARE TO BE PERFORMED

1. Unless otherwise disclosed in this section, all services shall be performed in the United States. This information and the economic impact on Illinois and its residents may be considered in the evaluation. If the Offeror performs the services purchased hereunder in another country in violation of this provision, such action may be deemed by the State as a breach of the contract by Offeror.

2. Offeror shall disclose the locations where the services required shall be performed and the known or anticipated value of the services to be performed at each location. If the Offeror received additional consideration in the evaluation based on work being performed in the United States, it shall be a breach of contract if the Offeror shifts any such work outside the United States.

3. Location where services will be performed: United States of America.

4. Percentage of contract of services performed at this location: 100 percent.

Include Part D and related attachments in Packet 1

SPECIFICATIONS/QUALIFICATIONS/STATEMENT OF WORK

E.

State of Illinois RFP 20 Section 1. Part D. Specifications/Qualifications/Statement of Work V.16.1 State of Illinois RFP 21 Section 1. Part D. Specifications/Qualifications/Statement of Work V.16.1

SECTION 2.

F. PRICING

F.1. FORMAT OF PRICING:

1. Offeror shall submit pricing in the format shown below, based on the terms and conditions set forth in Section 1 of this Request for Qualifications. Offeror’s price Offer shall serve as the basis for the compensation terms of the resulting contract. Failure to submit pricing as shown in this section may render Offeror’s entire Offer Non-Responsive and ineligible for award.

a) New money competitive bond saleEnter fee Enter fee

b) New money negotiated bond saleEnter fee

Enter fee

c) Refunding competitive bond saleEnter fee

d) Refunding negotiated bond saleEnter fee

The State assumes advisory services provided that are not related to a specific bond sale will be provided at no cost to the State. Please note there is a $5.00/bond all-in cost of issuance (including takedown) limit for the State’s General Obligation Bonds and $5.00/bond takedown (exclusive of costs of issuance) for the Build Illinois Bond program. Please use only the requested format to respond the pricing questions. If the State does not consider the Pricing to be fair and reasonable and negotiations fail to result in acceptable Pricing, the State reserves the right to cancel the award and take appropriate action to otherwise meet the needs of the State. The State determines whether the price is fair and reasonable by considering the Offer, including the Offeror's qualifications, the Offeror's reputation, all prices submitted, other known prices, the project budget and other relevant factors. GOMB reserves the right to negotiate the structure and amount of compensation.

F.2. TYPE OF PRICING: The Illinois Office of the Comptroller requires the State to indicate whether the contract pricing is firm or estimated at the time it is submitted for obligation. Pricing pursuant to this contract is firm.

F.3. EXPENSES ALLOWED: Expenses |X| are not allowed |_| are allowed as follows: Unless otherwise specified, this contract does not allow for reimbursement of any expense incurred by Vendor, including but not limited to telephone or other communications device, postage, copying, travel, transportation, lodging, food and per diem.

F.4. TAXES: Pricing shall not include any taxes unless accompanied by proof the State is subject to the tax. If necessary, Offeror may request the applicable agency’s Illinois tax exemption number and federal tax exemption information.

F.5. OFFEROR’S PRICING OFFER: Attach additional pages if necessary or if the format of pricing specified above in Section E.1 requires additional pages.

1. Offeror’s Price for the Initial Term:

2. Renewal Compensation: If the contract is renewed, the price shall be at the same rate as for the initial term unless a different compensation or formula for determining the renewal compensation is stated in this section.

F.5.2.1. Agency/University Formula for Determining Renewal Compensation: TBD

PRICING

Include Section 2 Part E and related attachments in Packet 2 State of Illinois RFP 23 Section 2. Part E. Pricing V.16.1 State of Illinois RFP 17 Specifications/Qualifications/Statement of Work V.13.3 State of Illinois RFP 24 Pricing V.13.2

SECTION 3.

F.1. TERM AND TERMINATION:

1.1. TERM OF THIS ELIGIBILTY: This qualified pool has an initial term of three years.

1.1.1. In no event will the total eligibility of this qualified pool, including the initial term, any renewal terms and any extensions, exceed ten (10) years.

1.2. RENEWAL: Subject to the maximum total term identified above, the State has the option to renew for the following term(s): up to four years ,…