REQUEST FOR PROPOSAL (RFP) NO. 26-03

BOND UNDERWRITING SERVICES

(UNDERWRITING POOL)

RFP PROPOSED SCHEDULE

RFP Posted Friday, May 22, 2026

Advertisement Friday, May 22, 2026 Friday, May 29, 2026

Mandatory Pre-proposal Conference Thursday, June 4, 2026

Questions regarding this RFP submitted to District by 2:00 pm PST Tuesday, June 9, 2026

Questions and Answers posted to Website Thursday, June 11, 2026

Proposer Responses Due by 2:00 pm PST

Thursday, June 25, 2026

Notice of Intent to Award Monday, July 20, 2026

Board Date for Approval Wednesday, August 5, 2026

PROCUREMENT UNIT

Attention: Ms. Dorothea Mc Farline 770 Wilshire Boulevard, 6th Floor

Los Angeles, CA 90017-3719 Email: mcfarld@laccd.edu

Phone: 213. 891.2276

RFP 26-03

Table of Contents

1. INTRODUCTION

1.1. Purpose of Request for Proposal

1.2. About the District

2. GENERAL GOALS AND SCOPE OF SERVICES

2.1. General Goals

2.2. Scope of Services

2.3. Term of Contract

2.4 Mandatory Pre-Proposal Conference

3. GENERAL INFORMATION AND GUIDELINES

3.1. District Contact Person

3.2. Internet Access to this RFP

3.3. Unauthorized Communications

3.4. Interested Parties

3.5. Proposer Clarifications

3.6. False Information

3.7. District Confirmation

3.8. No Joint Offers Accepted

3.9. District Determinations

4. INSTRUCTIONS AND GENERAL CONDITIONS

4.1. RFP Instructions and General Conditions

4.2. RFP Schedule

4.3 Proposal Submission

4.4 Meeting RFP Specifications

4.5 Proposed Information to be Accurate, Complete and Valid

4.6 Authorized Signatures

4.7 Authorization to Do Business

4.8 Requirements

4.9 Questions about RFP

4.10 RFP Addenda

4.11 Interpretation of Documents

4.12 Withdrawal/Proposal Irrevocable for one hundred eighty (180) Days

4.13 Exemption from Disclosure

4.14 Pre-Contractual Expenses

4.15 Immaterial Defect in Proposal

4.16 Oral Communications

4.17 RFP as Part of Final Contract

4.18 Proposed Contract

4.19 Exceptions/Deviations

4.20 No Commitment to Award

4.21 No Agreement Until Signed

4.22 News Releases

4.23 Use of District Employee’s Names

4.24 Adjustments to Contract

4.25 Contractor Evaluation

4.26 Termination or Cancellation

4.27 Protests of an Award

4.28 Other District Rights

5. PROPOSAL FORMAT AND CONTENT

5.1. General

5.2. Required Components of the Proposal

5.2.1. Required Format of Proposals

5.2.2. Required Content of Proposals

6. PROPOSAL EVALUATION AND CONTRACT AWARD

6.1. General

6.2. Evaluation Procedures

6.2.1 First Phase

6.2.2 Second Phase - Bench Establishment and Negotiations

6.3 Evaluation Process

6.3.1 Evaluation Criteria for Written Proposals

6.4 Contract Award

6.5 Continuity of Contract

Appendix A: Scope of Services

Appendix B: List of Exhibits Exhibit A: Non-Collusion Affidavit Exhibit B: Certificate of Non-Discrimination Exhibit C: Completed Confidentiality Agreement Exhibit D: Acknowledgement of All Addenda Issued By The District Exhibit E: Exceptions and Deviations to the Standard Form Agreement Exhibit F: Russian Economic Sanctions Certification Exhibit G: Certification of Small, Local, Emerging, And Disabled Veteran (SLEDV) Business Exhibit H: PP-04-09 Bid Protests and Appeals Exhibit I: Verification Exhibit J: PROFESSIONAL SERVICES AGREEMENT Exhibit K: Levine Act Campaign Contribution Notice

1. INTRODUCTION

1.1. Purpose of Request for Proposal

The purpose of this Request for Proposal (“RFP”) seeks qualified investment banking firms to provide bond underwriting services in connection with the issuance of voter-approved general obligation bonds and other debt instruments authorized under the Los Angeles Community College District (“District”) policy and applicable law. Selected firms will form an Underwriting Pool from which underwriting syndicates will be assembled for individual bond issuances during the term of the agreement.

The Statement of Work outlines the minimum services, responsibilities and performance expectations for firms selected to serve as Senior Manager, Co-Senior Manager, or Co- Manager within the District’s underwriting pool.

This RFP is intended to solicit responses from firms that will enter into a five (5) year contract to provide bond underwriting services for the District. Once under contract as a panelist, individual matters will be assigned based upon expertise, particular skills and successes of the firm, financial considerations, and proposed strategies.

This RFP and all subsequent modifications thereto are hereby designated as the sole reference and authority for the preparation of proposals. This release of this RFP supersedes all other documents related to RFP 26-03 obtained from any source, either by written or verbal communications.

The competitive method used for this solicitation is a Request For Proposal (RFP).

Selection of a successful firm or firms (alternately referred to as "Proposer" in this RFP) will be made through competitive procurement procedures, which will include factors discussed in Section 3 of this RFP.

This RFP shall not be construed (1) to create an obligation on the part of the District to enter into a contract with any firm or (2) to serve as the basis of a claim for reimbursement of expenditures related to the development of a proposal. Proposers shall be solely responsible for any expenses incurred as a result of its submittal under this RFP.

1.2. About the District

The District was organized in 1969 and is governed by an elected Board of Trustees and is part of the statewide California Community College system. Members of the Board of Trustees are elected at large to serve four-year terms.

. LACCD serves a highly diverse, multi-racial and multi-lingual geopolitical area of more than nine approximately nine million people in 2025 in roughly 900 square miles of the County of Los Angeles, including 36 cities and unincorporated communities, including the City of Los Angeles. The District extends from the San Fernando Valley and Sylmar areas north of metropolitan Los Angeles, down to the Port of Los Angeles in the south; from the “west side” of Los Angeles, over to the eastern side of Los Angeles into Boyle Heights and the San Gabriel Valley.

The District’s nine colleges provide comprehensive, lower-division general education (the traditional first two years of a four-year degree) for transfer; education pathways for two-year certificates or Associate’s degrees; occupational education; credit and non-credit instructional programs and Adult Education to meet the needs of the surrounding communities; Career Education and Strong Workforce jobs training education; citizenship classes; and, in some instances, four-year Bachelor’s degree programs and other lifelong learning opportunities. The colleges receive accreditation, subject to renewal, from the Accrediting Commission for Community and Junior Colleges (ACCJC). The nine colleges are: Los Angeles City College, East Los Angeles College, Los Angeles Harbor College, Los Angeles Mission College, Los Angeles Pierce College, Los Angeles Southwest College, Los Angeles Trade- Technical College, Los Angeles Valley College and West Los Angeles College and all are fully accredited. The colleges range in size from about 22 acres (Los Angeles Trade-Technical College) to more than 450 acres (Los Angeles Pierce College). Facilities include newly constructed classroom and instructional laboratory buildings, learning resource centers (libraries with specialized learning / tutoring centers) as well as original instructional buildings, parking structures, maintenance yards, athletic fields and gymnasiums. Some of the colleges, like Trade-Technical, founded in 1925, pre-date the District and were brought into the District. Others were created and built as the District expanded to its current configuration.

The District’s 2024-2025 Fiscal Year budget, found online, here, is from all funds and sources is $10.2 billion, of which $8.3 billion $8.3 billion is for the District’s capital improvement and construction program, “BuildLACCD.”

In Fall 2024 the District employed more than 6,000 full-and part-time personnel and served nearly 250,000 full-and part-time students in the 2024-25 academic year. More information about the District and its colleges can be found online, here. The student population of the LACCD is ethnically diverse: In the 2024-25 academic year 58 percent of students were Hispanic/Latinx, 19 percent White, 8 percent African American, 6 percent Asian, and

2 percent Multi-Ethnic. More detailed information about LACCD students can be found online, here.

Over 43,000 awards to students were conferred by LACCD colleges in the 2024-25 academic year, including bachelor’s degrees, two-year degrees, degrees for transfer, and credit and non-credit certificates of achievement.

The District maintains an active free-tuition program, the Los Angeles College Promise (LACP), available to all first-time, full-time students, regardless of age, race/ethnicity or demographic background. Since its inception in 2017, over 40,000 students have participated in this program and about 120,000 LACP students were enrolled in LACCD colleges in the 2024-25 academic year.

LACCD welcomes a diverse pool of proposers to respond to the Request for Proposal as outlined below in the Scope of Services Section, this includes those firms that have received LGBTQIA certification by recognized municipal agencies.

2. GENERAL GOALS AND SCOPE OF SERVICES

The method used for this solicitation is a Request for Proposal (“RFP”). Selection of contractors will be made through competitive procurement procedures, which will include factors such as experience and fees to be charged, as discussed in Section 6. Proposal Evaluation and Contract Award of this RFP. The following general rules and information are applicable to this RFP.

2.1. General Goals

The LACCD welcomes a diverse pool of proposers to respond to the Request for Proposal as outlined above, with a strong preference for those with a demonstrable history of providing support to individuals and communities from diverse backgrounds, especially in

ANNUAL ENROLLMENT (HEADCOUNT) BY COLLEGE, 2023-2024

LACC 31,535 LASC 11,793

ELAC 62,198 LATTC 22,417

LAHC 18,390 LAVC 30,768

LAMC 22,374 WLAC 19,166

LAPC 29,745

Total Enrollment Headcount: 248,386 service to educational institutions and higher education. This includes those firms that have received LGBTQIA certification by recognized municipal agencies.

2.2. Scope of Services

Please refer to Appendix A: Specifications of Services and Scope of Services.

2.3. Term of Contract

The contract awarded through this RFP is expected to be effective for a five (5) year period from August 6, 2026 to July 30, 2031. Either party may terminate the contract with no less than 30 days written notice of the intent to terminate the contract.

2.4 Mandatory Pre-Proposal Conference

An optional pre-proposal conference will be held on Thursday, June 4, 2026 at 10:30 am PST, VIA

ZOOM MEETING, WHICH IS AVAILABLE BY REGISTERING HERE:

https://laccd.zoom.us/j/89022564315?pwd=JNRnsbCy2wPHnnxZINWPFM4DsDzAvg.1

The purpose of this conference is to review the scope of services, proposal requirements, and explain how to submit questions. Attendance is mandatory.

As a result, failure to attend the Pre-Proposal Conference will disqualify a proposer from its submission being considered by the District. The District reserves the right to schedule additional mandatory or non-mandatory conferences upon advance written notice. Proposers shall be charged with / responsible for knowledge of all facts, circumstances, and other information that were made available at all such conferences.

Any changes to the solicitation resulting from this conference will be issued in writing through an addendum. Verbal discussions will not alter the requirements of this solicitation. All times noted above and elsewhere in this RFP are in Pacific Standard Time (PST).

3. GENERAL INFORMATION AND GUIDELINES

This is a competitive Request for Proposal (“RFP”) conducted under the laws and regulations of the State of California applicable to the District. Proposers should carefully examine the entire RFP and be fully aware of the nature and quality of the services sought, as well as the conditions in providing such services. Proposers must fully comply with the instructions set forth below or their proposals may be rejected as non-responsive.

3.1. District Contact Person

The District Contact Person for this RFP is given below. Potential contractors who either:

(1) require clarification regarding the intent or content of this RFP; or (2) did not receive all of the materials must contact the District Contact Person. Contact regarding this RFP with any District representative other than the District Contact Person, or his/her designee, may disqualify the proposer. Requests for clarification shall be submitted in writing, and may be posted on the District’s website, with the responses.

Dorothea Mc Farline Procurement Manager Los Angeles Community College District Procurement Unit, 6th Floor 770 Wilshire Boulevard Los Angeles, CA 90017-3719

TEL: 213.891.2276

email: mcfarld@laccd.edu

3.2. Internet Access to this RFP

All materials related to the RFP will be available on the internet at:

https://www.laccd.edu/offices/business-services/contract-services/bids-proposals

A Respondent who chooses to download an RFP solicitation will be responsible for checking the aforementioned web site for clarifications and/or addenda.

Failure to obtain clarifications and/or addenda from the website shall not relieve Respondent from being bound by any additional terms and conditions in the clarifications and/or addenda, or from considering additional information contained therein in preparing your Proposal.

Note: There may be multiple clarifications and / or addenda. Any harm to the Respondent resulting from such failure shall not be valid grounds for a protest against award(s) made under the solicitation.

All Respondents are responsible for obtaining all RFP materials.

3.3. Unauthorized Communications

Proposers shall not, prior to Award, contact or communicate, either verbally or in writing, with any of the following persons (other than the person named above) for the purpose of discussing the requirements of the RFP Documents or the RFP process: (1) any trustee, officer, employee, or representative of the District; or (2) any consultant, or employee of a consultant, providing the District with assistance, advice, or professional services relating to the matters covered by the RFP Documents or who is involved in any aspect of the RFP evaluation or scoring processes. Unauthorized communication by a Proposer in violation of the foregoing may result in disqualification.

3.4. Interested Parties

Providers who are advisors to the District in respect to the RFP process are not allowed to submit, or participate in submission of, Proposals. A Proposer shall not participate in, or be “interested in,” more than one Proposal. For purposes of this paragraph, “interested in” means having a managerial or financial interest in another Proposer or a Subcontractor to another Proposer. Notwithstanding the foregoing, a Subcontractor may be proposed as subcontractor to more than one Proposer.

3.5. Proposer Clarifications

Without limitation to the District’s rights relating to the conduct and content of Negotiations, the District reserves the right, but assumes no obligation to, at any point in the RFP process to contact a Proposer directly, without notice to other Proposers, for purpose of obtaining clarifications of, or to address minor irregularities, informalities, or apparent clerical mistakes in, a Proposal (“Proposer Clarifications”). Where the District determines that there is a need and justification for seeking Proposer Clarifications, the District may request Proposer Clarifications from some Proposers and not other Proposers.

If Proposer Clarifications are sought from all Proposers, the questions asked maybe different for each Proposer.

3.6. False Information

In addition to and without limitation upon any other requirements of the RFP Documents, the District reserves the right, but assumes no obligation, to disqualify any Proposer and reject any Proposal should District determine that any information submitted by the Proposer is false, incorrect, or materially incomplete.

3.7. District Confirmation

The District reserves the right, but assumes no obligation, to confirm through any means available to the District the truth, accuracy, or completeness of any information contained within the resumes or other information submitted by a Proposer or communicated by a Proposer or a Subcontractor during face-to-face communications with the District or its representatives or consultants administering the RFP process.

3.8. No Joint Offers Accepted

Where two or more Proposers desire to submit a single proposal in response to this RFP, they should do so on a prime/subcontractor basis rather than as a joint venture or informal team. For this engagement, District intends to contract with an individual provider and not with multiple providers doing business as a joint venture. Accordingly, where two or more providers desire to join in preparing and submitting Proposals, they should do so on a prime- subcontractor basis, rather than as a joint venture or informal team. The provider acting as the “prime”, if it receives the Award, will enter into the Agreement with the District.

3.9. District Determinations

The District shall have the right to make all determinations and interpretations relating to the RFP Documents or the RFP process, including, without limitation, any Proposer’s compliance with the RFP Documents or its qualifications to participate in the RFP process, and all such determinations shall be final and binding.

4. INSTRUCTIONS AND GENERAL CONDITIONS

4.1. RFP Instructions and General Conditions

This RFP contains the instructions and conditions governing the requirements for a proposal to be submitted by an interested Proposer, the format in which the proposal is to be submitted, the material to be included therein, and the requirements that must be met.

Each Proposer should carefully examine the entire RFP and be fully aware of the nature and quality of the services sought by District as well as the conditions in providing such services.

PROPOSALS MAY BE REJECTED AS NON-RESPONSIVE IF THE PROPOSER FAILS TO FULLY

COMPLY WITH ANY OR ALL OF THE INSTRUCTIONS OR CONDITIONS SET FORTH IN THIS

RFP.

4.2. RFP Schedule

RFP PROPOSED SCHEDULE

RFP Posted Friday, May 22, 2026

Advertisement Friday, May 22, 2026 Friday, May 29, 2026

Mandatory Pre-proposal Conference Thursday, June 4, 2026

Questions regarding this RFP submitted to District by 2:00 pm PST Tuesday, June 9, 2026

Questions and Answers posted to Website Thursday, June 11, 2026

Proposer Responses Due by 2:00 pm PST Thursday, June 25, 2026

Notice of Intent to Award Monday, July 20, 2026

Board Date for Approval Wednesday, August 5, 2026

The District reserves the right, at any time, to make adjustments in the form of additions, modifications or deletions to the RFP schedule. Such adjustments, if any shall be made by RFP Addendum. References in the RFP Documents to the RFP Schedule or to date in the RFP Schedule shall mean the RFP Schedule as so adjusted.

4.3 Proposal Submission

The proposer shall submit to the District one (1) printed original and seven

(7) copies of its proposal, together with one (1) copy of a USB drive containing an electronic version of the proposal in Microsoft Word format, addressing each of the items in this RFP and must be received by the District no later than 2:00 p.m. on Thursday, June 25, 2026. Proposals are to be enclosed in a sealed package displaying the proposer’s name and the words: “PROPOSAL RESPONDING TO RFP 26-03:” BOND

UNDERWRITING SERVICES (UNDERWRITING POOL)”

Mail or deliver proposals to:

Los Angeles Community College District 770 Wilshire Blvd, 6th Floor Los Angeles, California 90017

ATTN: Dorothea Mc Farline Procurement Manager Procurement Unit

Submittals not conforming to the specifications of this RFP may be deemed non-responsive or result in points being deducted during evaluation.

Proposals must be received by 2:00 p.m. on Thursday, June 25, 2026. Any proposal received after the time and date above may at the District’s sole discretion of the District, be returned unopen or set aside without consideration

Delivery of the proposal by the specified deadline is the sole responsibility of the Proposer to ensure that its proposal is delivered on time.

The District shall not be responsible for, nor accept as a valid excuse for late proposal receipt, any delay, interruption, transmission error, technical malfunction, internet outage, or other failure of electronic submission systems used by the Proposer, except where it can be established that the District’s systems were the sole cause of the late receipt.

Proposals submitted via fax, telephone or email will not be accepted.

Proposers may withdraw a proposal at any time prior to the submission deadline by submitting a written request to the District.

All proposals must be provider offers subject to acceptance by District and may not be withdrawn for a period of 180 calendar days following the Proposal Submission Deadline. Proposals may not be amended once submitted to District, except as permitted by “DISTRICT.”

4.4 Meeting RFP Specifications

The services offered by the Proposer must meet the specifications as described in this RFP. The District reserves the right to reject as non-responsive any proposal that does not meet the specifications as described in this RFP.

4.5 Proposed Information to be Accurate, Complete and Valid

The Proposer must provide a description of its proposed fee structure, compensation approach, and any pricing methodology applicable to the services identified in Appendix A – Scope of Services. Failure to provide the requested information may invalidate the proposal.

The price must be accurate, complete and must be valid for the term of the agreement.

The Proposer is responsible for the accuracy of the proposal submitted, and no allowance will be made for error or fee increases that the Proposer later alleges are retroactively applicable.

4.6 Authorized Signatures

Exhibits A through G must all be signed by the Proposer’s authorized signatory and must be submitted by the Proposer in the sealed envelope along with its proposal. The District is unable to accept any proposal submitted without these statements completed and signed by the Proposer’s authorized signatory.

4.7 Authorization to Do Business

All Proposers must be authorized to do business in California. If the Proposer is a corporation, it must be approved by the California Secretary of State to do business in California as shown by it having an “ACTIVE” status listed on the California Secretary of State website as of the date of submission of the proposal. The Proposer shall provide the corporate number issued by the Secretary of State with its proposal.

Each Proposer is required to possess at the time of submitting its Proposal, and at all times during the RFP process (and, in the case of the Proposer that receives award, at the time of award, upon execution of the Agreement, and at all times during performance of the Agreement) any licenses required by Applicable Law for the performance of the Agreement. For Example, a Proposer must be licensed to practice law in the State of California and must furnish its tax identification number.

4.8 Requirements

The Proposer shall be responsible for becoming familiar with the scope of services required by the District as set forth on pages of this RFP, and shall rely solely upon his or her own independent judgment, and not upon any statements or representations made by the District, whether express or implied. The failure or omission of any Proposer to acquaint himself or herself with the service requirements of the District shall in no way relieve any Proposer from any obligation with respect to this proposal or to the resulting agreement.

The submission of a proposal shall be taken as prima facie evidence of compliance with this section.

4.9 Questions about RFP

Proposers with questions regarding: (1) the intent or content of this RFP; or

(2) the competitive proposal process procedure, may request clarification by submitting written questions by email to: Dorothea Mc Farline, mcfarld@laccd.edu on or before 2:00 p.m. Pacific Standard Time, Tuesday, June 9, 2026. Please include “Questions Relating to RFP 26-03: “ Bond Underwriter Services (Bond Underwriter Panel)“ in the subject line.

Proposers are asked to submit all questions in writing by the questions deadline. LACCD shall not be obligated to answer any questions received after the above deadline or submitted in a manner other than as instructed above.

Written responses will be posted on the website:

https://www.laccd.edu/offices/business-services/contract-services/bids-proposals and made available to all the proposers without identifying the submitter.

Proposers are instructed not to contact District personnel or its agents in any other manner concerning this RFP. Unauthorized contact, at LACCD’s sole discretion, will be grounds for disqualification of a proposer (see Section 3.3 Unauthorized Communications).

4.10 RFP Addenda

If it becomes necessary for “DISTRICT” to revise any part of this RFP or to provide clarification or additional information after the proposal documents are released, written addenda will be posted online, here.

It shall be the responsibility of the Proposer to check the website or to appropriately inquire with District for any addenda issued. All addenda issued by DISTRICT shall become part of the RFP and the Proposer shall acknowledge, in writing, receipt and incorporation of all addenda and clarifications in its response. Specifically, Proposer’s acknowledgement of the addenda must be declared in the proposal in Exhibit D.

Failure of the Proposer to receive addenda shall not relieve the Proposer from any obligation under its proposal as submitted. The Proposer shall identify and list in its proposal all addenda received and included in its proposal. The Proposer’s failure to identify and list in its proposal all addenda received and included in its proposal may be asserted by the District as a basis for determining a proposal as non-responsive.

4.11 Interpretation of Documents

If any person contemplating submitting a proposal for the services proposed herein is in doubt as to the true meaning of any part of the proposal documents, or finds discrepancies in, or omissions from the documents, he/she may submit to the District a written request for an interpretation of correction thereof. The person submitting the request will be responsible for its prompt delivery. Any interpretation or correction of the proposal documents will be made only by addendum duly issued and a copy of such addendum will be mailed or delivered to each person receiving a set of the proposal documents. No person is authorized to make any oral interpretation of any provision in the proposal documents to any Proposer, and no Proposer is authorized to rely on any such unauthorized oral interpretation.

4.12 Withdrawal/Proposal Irrevocable for one hundred eighty (180) Days

A Proposer may withdraw its proposal at any time prior to the proposal opening date of April 10, 2026 by sending the District a request in writing from the same person who signed the submitted proposal. As of the deadline for submittal, any proposal received by the District and not withdrawn becomes an irrevocable offer available for acceptance by the District immediately and for one hundred eighty (180) days thereafter. The Proposer is responsible for the accuracy of the proposal submitted, and no allowance will be made for errors or price increases that the Proposer later alleges are retroactively applicable.

4.13 Exemption from Disclosure

Proposals will remain confidential in their entirety until the evaluation and analysis process is complete and a recommendation of an award has been approved by the LACCD Board of Trustees. Proposals regarding specific cases or matters and performance under the contract shall be bound by the privileges for attorney-client communication and/or attorney work product. All proposals submitted will become the property of the LACCD.

The Proposer must identify, in writing, all copyrighted material, trade secrets, or other proprietary information that the preparer claims are exempt from disclosure under the Public Records Act (California Government Code Section 6250 et seq.). Any Proposer claiming such an exemption must also state in the proposal that “the provider agrees to indemnify and hold harmless the Los Angeles Community College District, its Board of Trustees, Los Angeles Valley College, Los Angeles City College, East Los Angeles College, Los Angeles Harbor College, Los Angeles Mission College, Pierce College, Los Angeles Southwest College, Los Angeles Trade-Technical College, West Los Angeles College, and its officers, employees and agents, from any claims, liability, or damages against, and to defend any action brought against above said entities for their refusal to disclose such material, trade secrets, or other proprietary information by any party." Failure of a proposal to include such a statement will be deemed a waiver of any exemption from disclosure under the California Public Records Act. A blanket statement that all contents of the proposal are confidential or proprietary will not be honored by the District.

The Proposer’s identification of a document as “proprietary” or “confidential” does not automatically confer exclusion from disclosure under the California Public Records Act.

4.14 Pre-Contractual Expenses

Pre-contractual expenses are defined as any expenses incurred by the Proposer to:

(1) Prepare its proposal in response to this RFP; (2) Submit that proposal to District;

(3) Negotiate with District on any matters related to this RFP, including a possible contract; and (4) Engage in any other activity prior to the effective date of award, if any, of a contract resulting from this RFP. The District shall not, under any circumstance, be liable for any pre-contractual expenses incurred by Proposers. All expenses including, but not limited to, pre-contractual expenses incurred by the Proposer in preparing the proposal shall be borne and paid for solely by the Proposer and shall not be included in their offers.

4.15 Immaterial Defect in Proposal

The District may waive any immaterial deviation or defect in a proposal. The District’s waiver shall in no way modify the RFP documents or excuse the Proposer from full compliance with the RFP if awarded the contract.

4.16 Oral Communications

Any oral communication by the District Contact Person or his/her designee regarding this RFP is not binding and shall in no way modify the RFP or the obligations of the District, Proposer and/or Contractor.

4.17 RFP as Part of Final Contract

At the District’s discretion, the content of this RFP may be incorporated into the final contract.

4.18 Proposed Contract

The Proposer(s) selected for contract award through this RFP shall be required to enter into a written agreement with the District. The Standard Agreement for professional services presented in Exhibit H of this RFP is the contract proposed for execution. It may be modified to incorporate other pertinent terms and conditions set forth in this RFP, including those added by addendum, and to reflect the Proposer's offer or the outcome of contract negotiations, if any.

Exceptions and requested changes to the terms and conditions of the Standard Agreement, or the Proposer's inability or unwillingness to comply with any of the provisions of the Standard Agreement, must be declared in the proposal and will be considered as part of the proposal evaluation process.

4.19 Exceptions/Deviations

Any exceptions to, deviations from, or inability to comply with the requirements set forth in this RFP, or the terms and conditions contained in the Professional Services Agreement, must be declared in writing in Exhibit D within the proposal; and failure to do so will prevent Proposer from asserting its inability to comply with the terms or conditions later

on. Such exceptions or deviations must be segregated as a separate element of the proposal under Exhibit E - "Exceptions and Deviations to Standard Form Agreement." The District will make a good faith effort to consider contractual issues identified by providers and District requires all proposing providers to similarly make a good faith effort to comply with the District’s sample agreement terms and conditions.

Proposals that mandate the use of provider standard services contract, rather than utilizing the District’s standard services contract will result in that provider’s proposal being judged non-responsive and these proposals will be rejected.

Proposals that reject the following integral provisions of the District's contract terms and conditions will be treated as a rejection of the District's contract and these proposals will be rejected.

Section 5 - Term of Agreement Section 12 - Family Educational Rights Privacy Act (FERPA) Section 13 - Waiver of Damages; Indemnity Section 18 - Non-Discrimination Section 19 - Requirements for Federally Funded Contracts Section 23 - Governing Law Section 34 - Board Authorization

Exceptions or deviations which are in conflict with the District's terms and conditions may render the proposal non-responsive. In the event that exceptions and deviations to the Professional Services Agreement are requested after the contract has been awarded, the District may deem the proposal non-responsive and may disqualify the proposal at its discretion.

4.20 No Commitment to Award

Issuance of this RFP and receipt of proposals does not commit District to award a contract. District expressly reserves the right to postpone proposal opening for its own convenience, to accept or reject any or all proposals received in response to this RFP, to negotiate with more than one provider concurrently, or to cancel all or part of this RFP.

4.21 No Agreement Until Signed

No agreement with the District is effective until both parties have signed a contract and the District’s Board of Trustees has authorized the contract.

4.22 News Releases

News releases pertaining to any award resulting from this RFP may not be made without the prior written approval of the District.

4.23 Use of District Employee’s Names

The successful Proposer must agree not to use the names, office phone numbers, email addresses, and/or addresses of District employees for any purpose not directly related to this RFP.

4.24 Adjustments to Contract

All adjustments shall be proposed in writing by the District for approval prior to becoming effective. All required contract amendment(s) shall be issued by the District.

4.25 Contractor Evaluation

Contractors (and its subcontractors, if applicable) will be evaluated periodically regarding their performance.

4.26 Termination or Cancellation

The District reserves the right to terminate any contract awarded through this RFP by providing thirty (30) days’ written notice to the Contractor.

4.27 Protests of an Award

Any Proposer that has provided a proposal to the District may protest the solicitation or award of a contract for violations of “DISTRICT’S” procurement policies or of laws and regulations governing “DISTRICT’S” procurement activities, provided the proposer has complied with PP-04-09, Bid Protest and Appeals.

In order to be considered, all protests must be in writing and filed with and received by District, not more than five (5) business days following the date of issuance of the District’s Notice of Intent to Award with the contact below. Protests received by District after this date will be returned to the sender.

The protest letter must state the basis for the protest and the remedy sought and should be addressed to:

Director of Business Services or designee Los Angeles Community College District 770 Wilshire Blvd, 6th Floor Los Angeles, CA 90017

Failure to timely file the proposal protest shall constitute grounds for the District to deny the proposal protest without further consideration of the grounds stated therein.

4.28 Other District Rights

The rights, powers, and discretion expressly conferred upon the District under the RFP Documents are not intended to be exclusive but are cumulative and in addition to, and not a substitute for, every other right, power, or discretion existing or available to the District under the RFP Documents or Applicable Laws.

5. PROPOSAL FORMAT AND CONTENT

5.1. General

The proposal should provide a straightforward, concise description of the proposer’s ability to satisfy the requirements of this RFP. Emphasis should be placed on conformance to the RFP instructions, on responsiveness to the RFP requirements, and on completeness and clarity of the proposal’s content.

This RFP and the selected proposal response will become a part of any Agreement that is executed as a result of this RFP between the District and the Contractor. Any proposal attachments, documents, letters, and materials submitted by the proposer shall be binding and may be included as part of any final Agreement.

Each provider submitting a proposal must follow the instructions contained in this RFP in preparing and submitting its proposal. The proposing provider is advised to thoroughly read and follow all instructions. A proposal must contain all of the information in the order and format indicated below. All terms and conditions set forth in this RFP will be deemed to be incorporated by reference in their entirety into any response submitted by your provider.

Failure to comply with the rules/format set forth herein may result in rejection of the RFP response.

All proposals received and any information contained therein, are subject to disclosure in accordance with the California Education Code. Interested providers must respond to all of the questions listed below.

5.2. Required Components of the Proposal

5.2.1. Required Format of Proposals

In order to adequately compare and evaluate proposals objectively, all proposals must be submitted in accordance with the format below.

Failure to comply with the rules / format set forth herein may result in rejection of the RFP

In your proposal, please respond to each question by repeating the question at the top of the section and referring to the question by the numbers used in this RFP.

Proposals are to be submitted in 8 1/2” x 11” size, typed in a font size no less than 12 and submitted in paper form, single-sided, bound with a simple method of fastening.

Lengthy narrative is discouraged; presentations should be brief and concise and not include extraneous or unnecessarily elaborate promotional material.

Sections should be separated by labeled tabs and organized in accordance with subject matter sequence as set forth below. Each page of the Proposal must be numbered in a manner so as to be uniquely identified. Proposals must be clear, concise and well organized.

Supplemental technical information, product literature, and other supporting materials that further explain or demonstrate Provider's capabilities may also be included as addenda to a submitted proposal.

Proposers should use the following outline in organizing the contents of their proposals.

(See details in Section 5.2.2)

Cover Page Transmittal Letter Table of Contents Specifications of Scope of Services Conflict of Interest References Appendices

Appendix A - Supporting Documents Appendix B - Authorization to Contract Appendix C - Mandatory Documents to be Submitted in Response Appendix D - Additional Information

Sections should be separated by labeled tabs.

Failure to comply with the rules / format set forth herein may result in rejection of the RFP

5.2.2. Required Content of Proposals

This section prescribes the mandatory format for the development and presentation of a proposal. Each potential contractor must adhere to these requirements and submit all the following documents and data.

1. Cover Page

A cover page with the Proposer’s name, the title, “RFP 26-03: BOND UNDERWRITER SERVICES (UNDERWRITER POOL)” and submission due date and time. The Proposer should provide the corporate number issued by the California Secretary of State. (Please see 4.7 Authorization to Do Business.)

2. Transmittal Letter

The transmittal letter shall briefly summarize the potential contractor’s ability to perform the services specified in the RFP. The letter shall also state the potential contractor’s willingness to perform the work outlined in the RFP and to enter into a formal contract with the District. The letter of transmittal must, at a minimum, contain the following:

Identification of the offering vendor(s), including name, address email address and telephone number;

An acknowledgement of RFP addendum and/or addenda, if any;

During the evaluation process, District staff may have questions about a proposal. Each potential contractor shall make available a representative for answering specific questions, either orally or in writing, including: name, title, address, telephone number and email address of contact person during period of proposal evaluation

A statement that the proposal shall remain valid for a period of not less than

180 days from the due date for submittal.

Identification of any information contained in the proposal which the proposer deems to be, and establishes as, confidential or proprietary and wishes to be withheld from disclosure to others under the California Public Records Act

A blanket statement that all contents of the proposal are confidential or proprietary will not be honored by the District.

Signature of a person authorized to bind the offering provider to the terms of the proposal.

Name and address of operating provider, names of owners or principals of provider. Also includes a completed W-9.

3. Table of Contents

Immediately following the transmittal letter, include a complete table of contents with page references for the principal sections for materials included in the proposal.

4. Response to Specifications and Scope of Services

A. Proposals and Related Experience

This section should establish the ability of the proposer to satisfactorily perform the required work by reasons of: demonstrated competence in the services to be provided;

nature and relevance of similar work recently completed for other clients; record of meeting schedules and deadlines on other projects; competitive advantages over other firms in the same industry; strength and stability as a business concern; and supportive client references.

Specifically include:

Background information about your firm, including date of founding, legal form (sole proprietorship, partnership, corporation/state of incorporation), number and location of offices, principal lines of business, number of employees and other pertinent data. Disclose any conditions (e.g., bankruptcy or other financial problems, pending litigation, planned office closures, impending merger) that may affect your firm’s ability to perform contractually.

Certify that the firm and its principals are not debarred, suspended, or otherwise declared ineligible to contract by any federal, state, or local public agency, or declare and explain any such status.

General Requirements

1. Provide a brief description and overview of your firm, including type of organization, years in business, business focus, organizational structure as it relates to municipal investment banking, underwriting and sales and trading, location of headquarters and presence in California, and location of sales and trading in California. Describe any agreements, joint ventures and/or affiliations insofar as they relate to distribution of primary municipal bond offerings to investors at original offering prices; describe the firm’s institutional and retail sales capabilities; and describe your capabilities in marketing and distribution of both tax-exempt and taxable debt.

2. Summarize your firm’s experience in underwriting tax-exempt and taxable municipal bond issued since January 1, 2018 with an emphasis on general obligation bonds for California community colleges, other educational institutions and governmental entities. Provide separate lists distinguishing between your role as book-running senior manager, co-senior manager, and co-manager including sale date, issuer, tax status of bonds, par amount, issuer rating, underwriter discount and amount of capital your firm committed to underwrite unsold balances. Please include a full transaction list as an appendix that includes summary totals for the number of transactions and the total par amount of bonds issued in the body of the response.

3. Identify the members of your team to be assigned to LACCD and their office location, including the key investment banking personnel and the underwriter who is expected to lead the pricing, and the role of each. Provide a brief resume for each, including experience with California community college bonds.

4. Given the complexity of the District’s capital program, there are several decisions

LACCD must make prior to an issuance of bonds including par amount and frequency.

Given current market and political conditions, what are the strategic challenges for the District.

5. LACCD’s debt policy sets a minimum threshold of three percent (3%) net present value savings for a refunding. Please include in your response additional criteria, if any, that you would recommend in considering both current and taxable advance refunding.

6. Please provide in your response any suggestions you may have relative to the

District’s current rating strategy. Do you see actions that are within the District’s control that would secure an upgrade from Standard & Poor’s and Moody’s? Do you think obtaining a Fitch special revenue rating would produce lower interest rates or provide any other advantage? Please do not contact the rating agencies directly in connection with this question.

7. Please provide any other recommendations you have relating to the LACCD’s debt program. Pleas qualify your ideas and recommendation(s) with references to current market conditions, technical indicators, market timing, interest rate projections, and anticipated levels of sector participation.

8. Please provide two (2) case studies that represent a community college district with similar character in rating and economics to LACCD’s and its current , including the members of the team.

9. Provide client/issuer references for similar issuers, preferably individuals who have worked directly with the proposed primary contact(s). Indicate name and title of the individual, issuer, email and phone number.

10. LACCD anticipates appointing more than one firm to each bond sale. Please provide recommendations on composition of a syndicate, liability, and syndicate rules for an estimated $300 million tax-exempt financing as well as $50 million taxable financing.

11. Provide pricing expectations for a $300 million tax-exempt general obligation bond issue, amortized assuming level debt service over 25 years, assuming market conditions as of close on April 30, 2026. Include coupons, yields, serial/term structure and spreads to MMD. The estimated scale and any supporting data for the price rationale you wish to include (such as comparable sales) may be included as an appendix.

12. Please provide (in the attachments as Appendix D) an indicative underwriting spread, broken down by average takedown, expenses and management fee, if any.

Identify takedown by maturity of tax-exempt and taxable bonds and provide a detail of expenses for an estimated $300 million tax-exempt financing (Measure LA) as well as $150 million tax-exempt and $50 million taxable financing (Measure CC). Note that the District’s bond and disclosure counsel will prepare the official statement and render a 10b-5 opinion to the underwriters.

13. State your firm’s capital position (Total Capital, Equity Capital, Net Capital and

Excess Net Capital) as of its most recent report. Based on that capital, what is your capability to underwrite? Please provide your most recent FOCUS Report.

14. Indicate whether your firm or any personnel proposed to work for the District have been investigated or been subject to disciplinary action by FINRA, the SEC, or any other federal or State regulatory body over the past five years. If so, provide a description of such investigation or disciplinary action including the results of any investigation or disciplinary action (this disclosure may be included as an appendix).

15. The Los Angeles Community College District (“District”) is committed to promoting economic opportunity within its service area and throughout the State of California while ensuring compliance with applicable laws governing public procurement. The District encourages participation by firms that demonstrate a meaningful presence within the District’s service area and a commitment to community engagement.

This solicitation does not establish a geographic preference unless otherwise authorized by law however, information provided pursuant to this Section may be considered as part of the District’s overall evaluation consistent with applicable statutes and District policy.

Proposers are requested to provide the following information:

a. The location(s) of the firm’s principal office and any offices located within:

The District’s service area;

Southern California; and/or The State of California.

The United States

b. A description of the firm’s capacity to provide timely, responsive professional services to the District, including:

Proximity of key personnel;

Availability for in-person meetings;

Familiarity with local public agencies and regulatory requirements.

Information regarding local presence will be considered only to the extent it relates to service capability, responsiveness, and overall value to the District.

16. The District values firms that demonstrate active and sustained involvement in the communities they serve. Proposers shall describe:

a. Participation in charitable, educational, workforce development, or scholarship programs within the District’s service…