RFP605CO18002064_Sep_30_24_solicitation_doc.pdf

Solicitation Number: RFP605CO18002064

Financial Advisor Services

MODOT Request for Proposal (RFPR)

MoDOT - Dept of Transportation

April 17, 2018 - May 23, 2018

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General Header Information

RFP605CO18002064

No. RFP605CO18002064 Title: Financial Advisor Services Start Date: April 17, 2018 at 10:30:00 AM CDT End Date: May 23, 2018 at 3:00:00 PM CDT Vendor Q&A Start Date:

Vendor Q&A End Date:

Estimated Total Value:

Who can respond to this bid? : All Vendors Description: The Request For Proposal (RFP) seeks responses from qualified firms to provide Financial Advisor Services.

ATTENTION VENDORS: You must be a registered MissouriBUYS vendor to review all terms and conditions of this solicitation. Visit https://missouribuys.mo.gov/registration.html to obtain full access.

Delivery Terms: Free On Board Destination Payment Terms: Net 30 Days Contact Information: MoDOT - Dept of Transportation

Leann Kottwitz 830 MoDOT Drive Jefferson City MO, 65109 United States Tel: 573-751-3685 Fax:

Leann.Kottwitz@modot.mo.gov

Contact Details: If you have any questions, please contact:

Leann Kottwitz 830 MoDOT Drive Jefferson City MO, 65109 United States Tel: 573-751-3685 Fax:

Leann.Kottwitz@modot.mo.gov

Selected Categories:

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RFP605CO18002064

NOTICE

Vendor Responsibility

The vendor is solely responsible for ensuring timely submission of their solicitation response, whether submitting an online response or a hard copy response. Failure to allow adequate time prior to the solicitation end date to complete and submit a response to a solicitation, particularly in the event technical support assistance is required, places the vendor and their response at risk of not being accepted on time.

The State of Missouri's Privacy Policy can be accessed here.

MODOT Section Numbering

Section Numbering All section numbering contained in this solicitation is for the convenience of reference only and is not intended to define or limit the scope of any provision of this solicitation and may not be sequential.

http://www.mo.gov/privacy-policy/

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Solicitation Requirements:

RFP605CO18002064

MoDOT Instructions for Submitting a Response

Instructions for Submitting a Response

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The Missouri Department of Transportation is now posting all of its bid solicitation documents on the new

MissouriBUYS Bid Board (https://www.missouribuys.mo.gov). MissouriBUYS is the State of Missouri’s web-based statewide eProcurement system which is powered by WebProcure, through our partner, Perfect

Commerce.

For all bid solicitations, vendors now have the option of submitting their solicitation response either as an electronic response or as a hard copy response. As a means to save vendors the expense of submitting a hard copy response and to provide vendors both the ease and the timeliness of responding from a computer, vendors are encouraged to submit an electronic response. Both methods of submission are explained briefly below and in more detail in the step-by-step instructions provided at https://missouribuys.mo.gov/pdfs/how_to_respond_to_a_solicitation.pdf.

Notice: The vendor is solely responsible for ensuring timely submission of their solicitation response, whether submitting an online response or a hard copy response. Failure to allow adequate time prior to the solicitation end date to complete and submit a response to a solicitation, particularly in the event technical support assistance is required, places the vendor and their response at risk of not being accepted on time.

• ELECTRONIC RESPONSES: To respond electronically to a solicitation, the vendor must first register with MissouriBUYS by going to the MissouriBUYS Home Page (https://missouribuys.mo.gov), clicking the

“Register” button at the top of the page, and completing the Vendor Registration. Once registered the vendor should log back into MissouriBUYS and edit their profile by selecting the organizational contact(s) that should receive an automated confirmation of the vendor’s electronic bid responses successfully submitted to the state.

To respond electronically to a solicitation, the vendor must login to MissouriBUYS, locate the desired solicitation on the Bid Board, and, at a minimum, the vendor must read and accept the Original Solicitation

Documents and complete pricing and any other identified requirements. In addition, the vendor should download and save all of the Original Solicitation Documents on their computer so that they can prepare their response to these documents. Vendors should upload their completed response to these downloaded documents (including exhibits, forms, and other information concerning the solicitation) as an attachment to the electronic solicitation response. Step-by-step instructions for how a registered vendor responds to a solicitation electronically are available on the MissouriBUYS system at:

https://missouribuys.mo.gov/pdfs/how_to_respond_to_a_solicitation.pdf.

Vendors are encouraged to submit their entire proposal electronically; however in lieu of attaching exhibits, forms, pricing, etc. to the electronic solicitation response, a vendor may submit the exhibits, forms, pricing, etc. through mail or courier service. However, any such submission must be received prior to the solicitation’s specified end date and time. Be sure to include the solicitation/opportunity (OPP) number, company name, and a contact name on any hard copy solicitation response documents submitted through mail or courier service.

In the event a registered vendor electronically submits a solicitation response and also mails hard copy documents that are not identical, the vendor should explain which response is valid for the state's consideration. In the absence of such explanation, the state reserves the right to evaluate and award the response which serves its best interest.

https://www.missouribuys.mo.gov https://missouribuys.mo.gov/pdfs/how_to_respond_to_a_solicitation.pdf https://missouribuys.mo.gov https://missouribuys.mo.gov/pdfs/how_to_respond_to_a_solicitation.pdf

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Addendum Document: If an addendum document is subsequently issued, please follow these steps to accept the addendum document(s).

1. If you have not accepted the original solicitation document go to the Overview page, find the section titled, Original Solicitation Documents, review the solicitation document(s) then click on the box under

Select, and then click on the Accept button.

2. To accept the addendum document, on the Overview page find the section titled Addendum Document, review the addendum document(s) then click on the box under Select, and then click on the Accept button.

Note: If you submitted an electronic response prior to the addendum date and time, you should review your solicitation response to ensure that it is still valid by taking into consideration the revisions addressed in the addendum document. If a revision is needed to your solicitation response and/or to indicate your acceptance of the addendum document, you will need to retract your response and re-submit your response by following these steps:

1. Log into MissouriBUYS.

2. Select the Solicitations tab.

3. Select View Current Solicitations.

4. Select My List.

5. Select the correct Opportunity Number (Opportunity No); the Overview page will display.

6. Click on Review Response from the navigation bar.

7. Click on Retract if your response needs to be revised.

8. A message will come up asking, “Are you sure you want to retract the Bid”. Click on Continue to confirm.

9. Click on Respond and revise as applicable.

10. Click on Review Response from the navigation bar and then click on Submit to submit your response.

• HARD COPY RESPONSES: Be sure to include the solicitation/opportunity (OPP) number, company name, and a contact name on any hard copy solicitation response documents.

1. MODOT RFP STANDARD PROPOSAL PROVISIONS

1.1. Standard Provisions

The solicitation for the procurement of services referenced therein, is being issued under, and governed by, the provisions of Title 7 Missouri Department of Transportation, Division 10 Missouri Highways and

Transportation Commission, Chapter 11 Procurement of Supplies, of the Code of State Regulations. The

Missouri Highways and Transportation Commission (MHTC/Commission), acting by and through its operating arm, the Missouri Department of Transportation (MoDOT), draws the Offerors attention to said 7

CSR 10-11 for all the provisions governing solicitation and receipt of proposals and the award of the contract pursuant to this solicitation.

1.2. Standard Provisions

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All proposals must be submitted by a responsible officer or employee of the firm. Obligations assumed by such submission must be fulfilled.

1.3. Standard Provisions

MHTC reserves the right to reject any and all proposals for any reason whatsoever. Time is of the essence for responding to the RFP within the submission deadlines.

2. MODOT RFP PROPOSAL CERTIFICATION

2.1. Proposal Certification

The Offeror shall provide a fee proposal to MHTC in accordance with the terms of this Request for Proposal

(RFP). All services shall be performed at the fees offered and in accordance with the terms of this RFP.

2.2. Proposal Certification

By submission of the proposal, each Offeror, and in the case of a joint proposal, each party thereto as to its own organization, under penalty of perjury, certifies to the best of its knowledge and belief:

2.2.1. The prices in this proposal have been arrived at independently without collusion, consultation, communication or agreement for the purpose of restricting competition, as to any matter relating to such prices with any other Offeror or any competitor.

2.2.2. Unless otherwise required by law, the proposed prices have not been knowingly disclosed by the

Offeror prior the opening, directly or indirectly, to any other Offeror or to any competitor.

2.2.3. No attempt has been made or will be made by the Offeror to induce any other person, partnership or corporation to submit or not to submit a proposal for the purpose of restricting competition.

2.2.4. The Offeror certifies this proposal is made without any connection with any other person, firm, organization or business entity making a proposal for the same purpose, and is in all respects fair and without collusion or fraud, and that no elected official or other member, officer or employee or person whose salary is payable in whole or in part from the MHTC/MoDOT is directly or indirectly interested therein, or in any portion of the profits thereof.

3. MODOT RFP GENERAL DESCRIPTION AND BACKGROUND

3.1. General Description

This document constitutes a RFP from prospective qualified Offerors to provide to the MHTC, as set forth in this RFP. It is the intent of this RFP to have the successful Offeror enter into an Agreement with MHTC

(hereinafter Resulting Agreement), to supply said services as outlined herein.

3.2. Background

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Background: The MHTC is created by Article IV, Section 29 of the Missouri Constitution which, together with Chapters 226 and 227 of the Revised Statutes of Missouri (RSMo), as amended, grant the MHTC authority over MoDOT and the state highway system, as well as all other transportation programs and facilities as provided by law, including aviation, railroads, mass transportation, ports and waterborne commerce. Article IV, Sections 29 through 34 of the Missouri Constitution together with the statutes referenced above authorize the MHTC to issue state road bonds to finance or refinance the construction or reconstruction of the state highway system. The MHTC’s Debt Management Policy provides the parameters related to debt issuances and debt coverage requirements (see Form 1).

MoDOT’s state revenues consist of highway user taxes and fees and are pledged for repayment of Senior, First, Second and Third Lien bonds. The MHTC also has issued Grant Anticipation Revenue Vehicles

(GARVEE) bonds, with the MHTC’s reimbursement of federal-aid highway moneys pledged as the primary revenue stream for repayment of the GARVEE bonds, but such obligations are also secured with the remainder of highway user taxes and fees not needed for other debt. Form 2 provides a summary of the

MHTC’s lien structure.

As of February 1, 2018, debt outstanding and credit ratings on outstanding MHTC debt are as follows:

Please see Form 3 - Debt outstanding and credit ratings table.

The Third Lien bonds and $460,510,000 of the GARVEE Lien bonds are Build America Bonds (BABs). No additional Senior Lien Bonds can be issued as the lien is closed.

The MHTC maintains a pre-qualified pool of investment banking firms authorized to provide debt underwriting services for negotiated bond sales. The MHTC has also completed and is open to utilizing competitive bond sales.

New debt capacity will be influenced by future new or additional revenues authorized to be pledged for such debt by the Missouri legislature and Missouri voters and the amortization of existing debt obligations.

Offerors should refer to the MHTC’s Debt Management Policy for the current requirements related to the

MHTC’s debt coverage, debt issuance and options to take advantage of low interest rates prior to the current refunding date; although, such Debt Management Policy may be amended by the MHTC in its sole discretion.

The MHTC maintains a close working relationship with the following affiliated entities and these entities may need financial advice on issues impacting them from time to time:

•Missouri Department of Transportation and Missouri State Highway Patrol’s Medical and Life Insurance

Plan (Medical and Life Plan) - The Medical and Life Plan is a self-insured medical and life insurance plan covering all enrolled employees and retirees of MoDOT and the Missouri State Highway Patrol (MSHP), as well as enrolled spouses and dependents of the subscribers;

•Missouri Department of Transportation and Missouri State Highway Patrol’s Self Insurance Plan (Self Insurance Plan) - The Self Insurance Plan is a self-insured plan covering all risk exposures related to property damage, fleet liability, general liability and workers’ compensation for MoDOT and the MSHP;

•Missouri Department of Transportation and Highway Patrol Employees’ Retirement System (MPERS) -

MPERS is the retirement system which covers MoDOT and MSHP employees; and

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•Missouri Transportation Finance Corporation (MTFC) - The MTFC is a not-for-profit corporation which focuses on funding Missouri highway and transportation projects by offering financing options such as low interest direct loans to private and public entities.

3.3. Contract Period

The Contract Period for the performance of the services described in this RFP is from the date of the fully executed Resulting Agreement through three (3) years. The successful Offeror shall perform any and all the services listed herein as often as requested by MHTC for the entire duration of the Contract Period as defined herein at the Guaranteed-Not-To-Exceed Prices submitted by the successful Offeror in response to this RFP.

3.4. Renewal Period

The contract shall not bind, not purport to bind, the MHTC for any contractual commitment in excess of the original contract period. The Commission shall have the right, at its sole option, to extend the contract for two (2) additional one (1) year periods or any portion thereof. In the event that the Commission exercises its options to extend the contract, such extension must be accomplished by a formal contract amendment approved and signed by representatives of the Contractor and Commission, respectively, each of whom being duly authorized to execute the contract amendment on behalf of the Contractor and Commission, respectively.

3.5. Schedule of Events

Below is the schedule that will be followed. Unless otherwise specified, the time of day will be 7:30 a.m. to 4:00 p.m. Central Time. MHTC reserves the right at its sole discretion to expand this schedule, as deemed necessary, without any notification except for the deadline date for submitting a proposal.

3.5.1. April 17, 2018 - Issuance of RFP

3.5.2 May 1, 2018 at 10:00 AM - Deadline for Offerors to submit written questions and requests for clarification to the RFP Contact. Please submit questions to Leann.Kottwitz@modot.mo.gov.

3.5.3. May 9, 2018 - Issuance of Amendment with resolution to any questions submitted.

3.5.4. May 23, 2018 at 2:00 PM- Deadline for submission of proposals and scheduled public reading of firm names of proposals received.

3.5.5. June 11 - June 15, 2018 - Interview Conference with Offerors in Jefferson City (if needed).

3.5.6. August 1, 2018 - MHTC to Review & Finalize Contract Award.

3.5.7. November 1, 2018 - Effective Date of Contract.

4. MODOT RFP SCOPE OF WORK AND SPECIFIC SERVICES

4.1 Scope of Work

mailto:Leann.Kottwitz@modot.mo.gov

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The Offeror shall provide financial advisory services to assist the MHTC, MoDOT, and at the direction of the

MHTC or MoDOT, any of the MHTC’s affiliated entities, in determining the optimal financing mechanisms for their on-going operations, including meeting the guidelines of the MHTC’s Debt Management Policy in regard to state road bond transactions. In addition, the Offeror shall provide other financial advisory services as needed.

4.2 Specific Services

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The Offerors agree to perform specific services within the above stated scope of work to include, but not limited to the following:

•Knowledge of the municipal bond markets and experience with tax-exempt, BABs and GARVEE bond issuances;

•Financial advisory services available on bond issues related to an original financing project such as:

•Advisement on the management of the Commission's debt program;

•Advisement on bond market conditions and timing of the sale of debt instruments;

•Advisement and assistance in determining the term of amortization, call provision and other factors relevant to marketing the debt;

•Preparation of the Preliminary Official Statement, the Official Statement, the Notice of Sale and other related documents;

•Arrangement for printing and distribution of the Preliminary Official Statement, the Official Statement, the Notice of Sale and other related documents for posting on the internet;

•Advisement and assistance in obtaining the best possible ratings from the major credit rating agencies and attendance at any presentation to the credit rating agencies;

•Attendance at sale closing and all other meetings and conferences as deemed necessary by MoDOT staff;

•Arrangement for electronic bidding on competitive sales;

•Advisement and assistance in the selection of a trustee, paying agent/registrar and escrow verification agent;

•Preparation of arbitrage rebate analysis; and

•Any other services necessary in connection with a debt issuance;

•Ongoing financial advisory services such as:

•Assistance with credit rating agency presentation updates;

•Analysis of new financing techniques, methodologies and trends;

•Assistance and advisement on debt management policies;

•Advisement on any proposed use of debt;

•Advisement on best practices of transportation financing;

•Preparation, analysis and advisement on proposed debt scenarios;

•Assistance with secondary market disclosure requirements; and

•Assistance with RFP preparations and proposal evaluations for any services related to financing;

•Other financial advisory services for potential issues such as:

•Transportation Infrastructure Finance and Innovation Act (TIFIA) financing;

•Public-Private Partnership opportunities;

•Evaluation and advisement on alternative and/or innovative financing mechanisms;

•Retirement Benefits;

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•Other Post-Employment Benefits; and

•Any other issues that may have a financial impact to on-going operations; and

•Acknowledgement that the Offeror and Offeror’s personnel shall be prohibited from serving as an underwriter on any MHTC related financing.

5. MODOT RFP REQUIRED ELEMENTS OF PROPOSAL AND

SUBMISSION

5.1. Required Elements of Proposal

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Each Offeror shall provide a cover letter signed by an authorized firm representative stating he/she has read and understands all of the terms and conditions of doing business with MHTC in response to this request for proposal. The proposal must be divided into sections corresponding to the list of elements described below.

5.1.1. Experience - The proposal must clearly identify the Offeror’s experience in offering the services requested in this RFP during the past five (5) years.

5.1.1.1. The description should include a list of the government agencies including, but not limited to, any other state department of transportation agencies with which the Offeror has served as or is currently serving as a financial advisor.

5.1.1.2. Provide a summary of bond issuances with which the Offeror has served as a financial advisor indicating the name of the issuer, date of issuance, type of issuance (i.e., tax-exempt, BABs, GARVEE, etc.), amount of issuance, credit rating assigned to the issuance (if applicable), and any other pertinent information.

5.1.1.3. Describe any distinguishing attributes and/or processes of the Offeror used to challenge the bond underwriters to assure that your clients receive the lowest True Interest Cost (TIC) on bond issuances.

5.1.1.4. Include experiences and approaches the Offeror has with alternative funding and procurement methods such as TIFIA, Public Private Partnerships, Design-Build Finance procurement methods and other innovative finance / procurement used on very large projects (greater than $200 million).

5.1.1.5. Discuss the Offeror’s experience necessary to assist issuers with either competitive or negotiated municipal bond sales. Additionally, describe the Offeror’s access to sources of current market information to assist in pricing for both negotiated and competitive sales.

5.1.1.6. Demonstrate the Offeror’s understanding of the MHTC’s current debt and financial situation.

5.1.2. Personnel - The proposal must indicate the name, location, telephone number and e-mail address of the primary contact person(s) for the Offeror. In addition, provide the name, location, telephone number and e-mail address of any other personnel which will be assigned to this contract. Information presented in this section should be in a resume style format and highlight the experience and qualifications of all personnel which will be assigned to servicing this contract. The Offeror must furnish a complete listing of each sub-

Offeror, if any, and complete contact information for such sub-Offeror.

5.1.3. Sample of Proposed Services - Given the MHTC’s debt capacity, the Offeror must include in its proposal their suggestions on the MHTC’s best financing options for funding $1 billion of projects starting in

Fiscal Year 2021 with a construction period of five consecutive fiscal year’s thereafter.

5.1.4. Legal Proceedings - The proposal must provide a summary of any pending and final legal proceedings and/or disciplinary events involving the Offeror within the last three (3) years related to the types of services addressed in this RFP.

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5.1.5. Compliance – The proposal must provide a statement acknowledging the Offeror is in compliance with all Municipal Securities Regulatory Board (MSRB) rules involving municipal securities transactions and in regard to advising state governments and its executive branch departments. The Offeror must also state that it is in lawful compliance with all of the campaign contribution limitations, restrictions, reporting requirements and other campaign-related provisions of any state and federal securities laws, as well as all

Missouri laws and regulations regarding campaign contributions, including, but not limited to, section

226.136, RSMo; and that it will stay in compliance with all such state and federal securities laws and campaign contribution provisions during the duration of the Agreement.

5.1.6. Insurance - Provide a summary of insurance coverage / bonding carried by the Offeror that would be relevant to the services requested under this RFP.

5.1.7. References - The proposal must include the name, title, organization, address and telephone number of at least three clients in which the Offeror has served as a financial advisor within the past five (5) years.

5.1.8. Overall Clarity and Quality of Proposal - The proposals will be evaluated based on the adequacy of the Offerors response in addressing each of the Required Elements of the Proposal listed above as well as any other evaluation methods referenced in this RFP.

5.2. Submission of Proposals

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5.2.1. Electronic Proposal Format - If a registered vendor is responding electronically through the

MissouriBUYS System website, in addition to completing the on-line pricing, the registered vendor should submit completed exhibits, forms, and other information concerning the proposal as an attachment to the electronic proposal. The registered vendor is instructed to review the RFP submission provisions carefully to ensure they are providing all required pricing, including applicable renewal pricing. Instructions on how a registered vendor responds to a bid on-line are available on the MissouriBUYS System website at:

https://missouribuys.mo.gov/bidboard.html.

In the event that the vendor is an agency of state government or other such political subdivision which is prohibited by law or court decision from complying with certain provisions of an RFP, such vendor may submit a proposal which contains a list of statutory limitations and identification of those prohibitive clauses.

The vendor should include a complete list of statutory references and citations for each provision of the

RFP, which is affected by this paragraph. The statutory limitations and prohibitive clauses may (1) be requested to be clarified in writing or (2) be accepted without further clarification if the statutory limitations and prohibitive clauses are deemed acceptable. If MHTC determines clarification of the statutory limitations and prohibitive clauses is necessary, the clarification will be conducted in order to agree to language that reflects the intent and compliance of such law and/or court order and the RFP.

5.2.1.1. The exhibits, forms, and Pricing Page(s) provided herein can be saved into a word processing document, completed by a registered vendor, and then sent as an attachment to the electronic submission.

Other information requested or required may be sent as an attachment. Additional instructions for submitting electronic attachments are on the MissouriBUYS System website. Be sure to include the solicitation/opportunity (OPP) number, company name, and a contact name on any electronic attachments.

Electronic copies of the proposal and electronic attachments should be searchable.

5.2.1.2. In addition, a registered vendor may submit the exhibits, forms, Pricing Page(s), etc., through mail or courier service. However, any such submission must be received prior to the specified end date and time.

5.2.1.3. If a registered vendor submits an electronic and hard copy proposal response and if such responses are not identical, the vendor should explain which response is valid. MHTC will consider the response with the terms most favorable to MHTC.

5.2.2. Hard Copy Proposal Format - If the vendor is submitting a proposal via the mail or a courier service or is hand delivering the proposal, the vendor should include completed exhibits, forms, and other information concerning the proposal (including completed Pricing Page(s) with the proposal. The vendor is instructed to review the RFP submission provisions carefully to ensure they are providing all required pricing, including applicable renewal pricing.

5.2.2.1. The proposal should be page numbered and the signed page one from the original RFP and all signed addendums should be placed at the beginning of the proposal.

5.2.2.2. The vendor should include one (1) original proposal. The front cover of the original proposal should be labeled original.

https://missouribuys.mo.gov/bidboard.html

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5.2.2.3. In addition, the vendor should include one (1) complete electronic copy of their proposal in

Microsoft compatible format on password protected flash drives. The electronic copy should be in a searchable format to facilitate the evaluation process. The vendor should be sure to provide the password so MoDOT can access the documents. The vendor should ensure all media is identical to the vendors hardcopy original proposal. In case of a discrepancy, the original hardcopy proposal document shall govern.

Electronic copies of the proposal and electronic attachments should be searchable.

5.2.3. Signatures - Any form containing a signature line in this RFP and any amendments, pricing pages, etc., must be manually signed and returned as part of the proposal.

5.2.4. Pricing - The Offeror is required to specify the pricing associated with this RFP as a firm fixed price.

The successful Offeror will be responsible for performing all services listed in this RFP at the prices submitted. MHTC will not be liable for any charges beyond those detailed in the proposal.

5.2.4.1. MHTC shall not make any payment to the successful Offeror in advance of the services rendered by the successful Offeror.

5.2.4.2. Each Offeror is responsible for its own expense in preparing, delivering or presenting a proposal, and for subsequent interviews or negotiations with MHTC, if any, as provided for in this RFP.

5.2.5. Proposal Life - The Offerors must include a statement in the proposal that indicates the length of time during which MHTC may rely on all proposal commitments. All proposals made in response to this RFP and quoted pricing must remain in effect for a period of not less than 90 days after the date for proposal submission. Any proposal accepted by MHTC for the purpose of contract negotiations shall remain valid until superseded by a contract or until rejected by MHTC.

5.2.6. Submission of All Information Required -The Offerors must respond to this RFP by submitting all the information required herein for its proposal to be evaluated and considered for award. Failure to submit all the required information shall be deemed sufficient cause for disqualification of a proposal from consideration.

5.2.7. Public Inspection -The Offerors are hereby advised that all proposals and the information contained in or related thereto are subject to Missouri Open Records Act and after contract award and execution of the

Resulting Agreement shall be open to public inspection and may be viewed and copied by any member of the public; therefore, MHTC does not assume any responsibility whatsoever in the event that such information is used or copied by individual persons or organizations.

5.2.7.1. Offerors claiming a statutory exception to the Missouri Open Records Act must clearly identify any confidential documents. The Offeror must also specify which statutory exception provision applies. MHTC reserves the right to make determinations of confidentiality. If MHTC does not agree that the information designated is confidential under one of the disclosure exceptions to the Missouri Open Records Act, it may either reject the proposal or discuss its interpretation of the allowable exceptions with the Offeror. If agreement can be reached, the proposal will be considered. If agreement cannot be reached, MHTC will remove the proposal from consideration for award and return the proposal to the Offeror.

5.2.7.2. MHTC will not consider prices to be confidential information.

5.2.7.3. The Offeror must submit its proposal based on the conditions contained in this paragraph without reservations.

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5.2.8. Clarification of Requirements - It shall be the Offerors responsibility to ask questions, request changes or clarification, or otherwise advise MHTC/MoDOT if any language, specifications or requirements of the RFP appear to be ambiguous, contradictory, and/or arbitrary, or appear to inadvertently restrict or limit the requirements stated in the RFP to a single source.

5.2.8.1. Any and all communication from Offerors regarding specifications, requirements, competitive proposal, etc., must be directed to the RFP Contact listed herein, unless the RFP specifically refers the

Offerors to another contact. Such communication shall be received by the date noted in the Schedule of

Events.

5.2.8.2. Every attempt will be made to ensure that the Offeror receives an adequate and prompt response.

However, in order to maintain a fair and equitable proposal process, all Offerors will be advised, via the issuance of an addendum to the RFP, of any relevant or pertinent information related to the procurement.

Therefore, Offerors are advised that unless specified elsewhere in the RFP, any questions received after the listed date may not be answered.

5.2.9. After an initial screening of the written proposals, any, or all of the Offerors submitting a proposal in response to this RFP may be required to give an oral presentation of their proposal. Additional technical information may be requested for clarification purposes, but in no way to change the original written proposal submitted. MHTC reserves the right, in its sole discretion, to decide to conduct interviews with any or all of the Offerors. MHTC reserves the right, in its sole discretion, to determine the interview method, format and location. If an interview is conducted, it is preferred that the interviewed Offerors personnel to be assigned to the work, as well as key representatives, be present at and participate in the interview.

5.2.10. Official Position of MHTC Offerors are cautioned that the only official position of the MHTC and

MoDOT is that which is issued by MHTC in the RFP or an amendment thereto. No other means of communication, whether oral or written, shall be construed as a formal or official response or statement.

6. MODOT RFP EVALUATION FACTORS AND PROCESS

6.1. Evaluation Factors

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The following factors shall be considered in the evaluation of the proposals:

6.1.1. Evaluation Factors - Any agreement for services resulting from this RFP shall be awarded to the

Offeror providing the best proposal to MHTC. After determining responsiveness, proposals will be evaluated in accordance with the following factors:

6.1.1.1. Transportation financial advisory expertise of assigned personnel - 30 Maximum Points

6.1.1.2. Transportation financial advisory experience of the firm and proposed offered services - 30

Maximum Points

6.1.1.3. Cost, Fees and Expenses - 30 Maximum Points

6.1.1.4. Quality and clarity of the proposal -10 Maximum Points

6.1.2. Historic Information- The MHTC reserves the right to consider historic information and facts, whether gained from the Offeror's proposal, presentations or interviews as applicable, references, or other sources, including but not limited to the listed subcontractors, in the evaluation process.

6.1.3. Responsibility to Submit Information - Each Offeror is cautioned that it is the Offeror's sole responsibility to submit information related to the evaluation factors and that the MHTC's representative is under no obligation to solicit such information if it is not included with the Offeror's proposal. Failure of the

Offeror to submit such information may cause an adverse impact on the evaluation of the Offeror's proposal.

6.2. Proposal Review/ Evaluation

MHTC will select a group of individuals to comprise the proposal review team. MHTC may, in its sole discretion, form a subgroup of the proposal review team, consisting of one or more team members, to comprise a separate proposal evaluation team that would be responsible for evaluating proposals with regard to compliance with RFP requirements. All evaluation team members will use the evaluation criteria stated above and present the evaluations to the review team for further action in the proposal evaluation and contract award process. If MHTC opts to not create a separate subgroup proposal evaluation team, the proposal review team shall also act as the proposal evaluation team.

7. MODOT RFP TERMS AND CONDITIONS

7.1. Agreement Components

The Resulting Agreement between MHTC and the successful Offeror shall incorporate by reference as its components the following: the RFP and any written amendments thereto and the proposal submitted by the successful Offeror in response to the RFP. In case of a conflict between or inconsistency in the terms contained in the RFP and the proposal submitted by the Offeror in response to the RFP, the terms of the

RFP shall govern. In the event of a conflict between or inconsistency in the terms of the RFP and the

Resulting Agreement, the terms of the Resulting Agreement shall govern. MHTC reserves the right, in its sole discretion, to clarify any relationship in writing and such written clarification shall govern in case of any conflict with or inconsistency in the applicable requirements stated in the RFP and the successful Offeror's proposal.

7.2. MHTC's Representative

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MoDOT's Financial Services Director is designated as MHTC's representative with authority to act on behalf of the MHTC for the purpose of administering the Resulting Agreement. MHTCs representative may designate by written notice other persons having the authority to act on behalf of MHTC in furtherance of the performance of the Resulting Agreement. The Offeror shall fully coordinate its activities with the designated representative and shall consult the MHTC representative regarding any problem arising out of the provision of the services to the MHTC pursuant to this RFP and the Resulting Agreement. As the work of the successful Offeror progresses, advice and information on matters covered by the Resulting Agreement shall be made available by the successful Offeror to the designated representative throughout the effective period of the Agreement. MHTC reserves the right to limit the authority of Buyer of Record and MHTCs representative provided herein as it deems necessary in its sole discretion at any time and from time to time throughout the duration of the RFP process and the Contract Period.

7.3. Assignment

The successful Offeror shall not assign, transfer, or delegate any interest in the services to be provided under this RFP and the Resulting Agreement without the prior written consent of the MHTC representative.

The successful Offeror may at its own expense employ clerical or technical assistance in the performance of the services under this RFP and the Resulting Agreement, such clerical and technical assistance provider being as fully bound as the Offeror to all confidentiality and work product provisions of this RFP and the

Resulting Agreement.

7.4. Amendments

Any change in the Resulting Agreement, whether by modification or supplementation, must be accomplished by a formal contract amendment approved and signed by representatives of the Successful Offeror and

Commission, respectively, each of whom being duly authorized to execute the contract amendment on behalf of the Successful Offeror and Commission, respectively.

7.5. Disputes

Disputes Under the RFP and Resulting Agreement: The MHTC representative and/or Buyer of Record, as applicable, will decide all questions which may arise as to the quality, quantity, and acceptability of any

Offerors proposals submitted in response to this RFP, and of the services under this RFP and the Resulting

Agreement performed by the successful Offeror and as to the rate of progress of the services; all questions which may arise as to the interpretation of the services to be performed under this RFP and the Resulting

Agreement; all questions as to the acceptable fulfillment of the Resulting Agreement on the part of the successful Offeror; the proper compensation for performance or breach of the Resulting Agreement; and all claims of any character whatsoever in connection with or growing out of the services to be performed or performed by the successful Offeror, whether claims under this RFP and the Resulting Agreement or otherwise. The decision of the MHTC representative and/or Buyer of Record, as applicable, shall be conclusive, binding, and incontestable.

7.6. Successors and Assigns

The Commission and the Offerors agree that this RFP and, as applicable, the Resulting Agreement as well as all agreements entered into under the provisions of this RFP, shall be binding upon the parties thereto and their successors and assigns.

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7.7. Sole Beneficiary

The Resulting Agreement will be made for the sole benefit of the parties thereto and nothing in this RFP or the Resulting Agreement shall be construed to give any rights or benefits to anyone other than the

Commission and the successful Offeror.

7.8. Cancellation of Resulting Agreement

MHTC may cancel the Resulting Agreement at any time by providing the successful Offeror with a written notice of cancellation. Should the Commission exercise its right to cancel the Resulting Agreement, cancellation will become effective upon the date specified in the notice of cancellation.

7.9. Bankruptcy

Upon filing for any bankruptcy or insolvency proceeding by or against any Offeror or assignee, whether voluntarily, or upon the appointment of a receiver for the benefit of creditors, Commission reserves the right and sole discretion to reject the Offerors proposal, or, as applicable, either cancel the Resulting Agreement or affirm the Resulting Agreement and hold the successful Offeror responsible for damages.

7.10. Status of Independent Contractor

The successful Offeror represents itself to be an independent contractor offering such services to the general public and shall not represent itself or its employees to be an employee of MHTC or MoDOT.

Therefore, the successful Offeror shall assume all legal and financial responsibility for taxes, FICA, employee fringe benefits, workers compensation, employee insurance, minimum wage requirements, overtime, or other such benefits or obligations.

7.11. Subcontractor

Any Offerors proposal must identify all subcontractors, if any, and outline the contractual relationship between the Offeror and each subcontractor. Either a copy of the executed subcontract or a letter of agreement over the official signature of the firms involved must accompany each proposal. MHTC must approve the successful Offerors subcontracting any portion of the services to be provided under the

Agreement. The successful Offeror is responsible for the performance of any obligations that may result from this RFP and the Agreement and shall not be relieved by the non-performance of any subcontractor.

7.12. MBE/WBE Participation Encouraged

Minority Participation Encouraged: Offerors are encouraged to obtain minority business enterprise

(MBE) and women business enterprise (WBE) participation in this work through the use of subcontractors, suppliers, joint ventures, or other arrangements that afford meaningful participation for M/WBEs (i.e. 10% MBE and 5% WBE participation).

7.12.1. Affirmative Action Program: Offerors are encouraged to submit copies of their existing affirmative action programs, if any. Offerors are also encouraged to directly hire minorities and women as direct employees of the Offerors.

7.12.2. Offerors Responsibility Unconditional: Regardless of which persons or firms, if any, that the successful Offeror may use as subcontractors or suppliers of goods or services for the services to be provided, the successful Offeror ultimately remains responsible and liable to MHTC for the complete, accurate, and professional quality/performance of these services.

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7.13. Nondiscrimination

The Offerors shall comply with all state and federal statutes applicable to the Offerors relating to nondiscrimination, including, but not limited to, Chapter 213, RSMo; Title VI and Title VII of Civil Rights Act of 1964 as amended (42 U.S.C. Sections 2000d and 2000e, et seq.); and with any provision of the

Americans with Disabilities Act (42 U.S.C. Section 12101, et seq).

7.14. Executive Order

The Offerors shall comply with all the provisions of Executive Order 07-13, issued by the Honorable

Matt Blunt, Governor of Missouri, on the sixth (6th) day of March, 2007. This Executive Order, which promulgates the State of Missouris position to not tolerate persons who contract with the state engaging in or supporting illegal activities of employing individuals who are not eligible to work in the United States, is incorporated herein by reference and made a part of this Agreement.

7.14.1. Offerors Certification: By signing the proposal to this RFP, the Offeror hereby certifies that any employee of the Offeror assigned to perform services herein is eligible and authorized to work in the United

States in compliance with federal law.

7.14.2. Failure to Comply: In the event the Offeror fails to comply with the provisions of the Executive Order

07-13, or in the event the Commission has reasonable cause to believe that the Offeror has knowingly employed individuals who are not eligible to work in the United States in violation of federal law, the

Commission reserves the right to reject the Offerors proposal or, as applicable, impose such contract sanctions as it may determine to be appropriate, including but not limited to contract cancellation, termination or suspension in whole or in part or both.

7.14.3. Incorporation of Provisions: The successful Offeror shall include the provisions of this paragraph in every subcontract. The successful Offeror shall take such action with respect to any subcontract as the

Commission may direct as a means of enforcing such provisions, including sanctions for noncompliance.

7.15. Non-employment of Unauthorized Aliens

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Pursuant to Section 285.530, RSMo., no business entity or employer shall knowingly employ, hire for employment, or continue to employ an unauthorized alien to perform work within the State of Missouri. As a condition for the award of any contract or grant in excess of five thousand dollars by the State or by any political subdivision of the State to any Offeror, or for any Offeror receiving a state-administered or subsidized tax credit, tax abatement, or loan from the state, the Offeror shall:

7.15.1. Enrollment in Federal Work Authorization Program: By sworn affidavit and provision of documentation, affirm its enrollment and participation in a federal work authorization program with respect to the employees working in connection with the contracted services. E-Verify is an example of a federal work authorization program. The Offeror must affirm its enrollment and participation in the E-Verify federal work authorization program with respect to the employees proposed to work in connection with the services requested herein by providing acceptable enrollment and participation documentation consisting of completed copy of the E-Verify Memorandum of Understanding (MOU). For Offerors that are not already enrolled and participating in a federal work authorization program, E-Verify is available at http://www.dhs.gov/xprevprot/programs/gc_1185221678150.shtm.

7.15.2. Annual Worker Eligibility Affidavit: By sworn affidavit, affirm that it does not knowingly employ any person who is an unauthorized alien in connection with the contracted services. Offerors are required to complete and submit with their proposal the affidavit referenced herein, which is provided within this document and attached as Exhibit 1.

7.16. Proof of Lawful Presence for Sole Proprietorships and

Partnerships

If the Offeror is a sole proprietorship or partnership, pursuant to Section 208.009, RSMo., each sole proprietor and each general partner shall provide affirmative proof of lawful presence in the United States.

Such sole proprietorship or partnership is eligible for temporary public benefits upon submission by each sole proprietor and general partner of a sworn affidavit of his/her lawful presence on the United States until such lawful presence is affirmatively determined, or as otherwise provided by Section 208.009, RSMo. As applicable, Offerors are required to complete and submit with their proposals the copy of the affidavit referenced herein, which is provided within this document and attached as Exhibit 2.

7.17. Requirements to do Business in Missouri

Out-of-state Offerors must comply with the following requirements to do business in Missouri:

7.17.1. Registration with Secretary of State: The Offerors must be registered and maintain good standing with the Secretary of State of the State of Missouri, Missouri Department of Revenue, and other regulatory agencies, as may be required by law or regulations. Prior to execution of the Resulting Agreement, the successful Offeror shall submit to MHTC a copy of its current Authority Certificate from the Secretary of

State of the State of Missouri and/or a copy of its Certificate of No Tax Due from the Missouri Department of

Revenue.

7.17.2. Transient Employer Certificate: All out-of-state Offerors providing services within the State of

Missouri must provide a copy of their current Transient Employer Certificate issued from the Missouri

Department of Revenue. For assistance with obtaining a Transient Employer Certificate, please call the

Missouri Department of Revenue at (573) 751-0459.

http://www.dhs.gov/xprevprot/programs/gc_1185221678150.shtm

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7.18. Law of Missouri to Govern

This RFP and the Resulting Agreement shall be construed according to the laws of the State of Missouri.

The Offeror shall comply with all local, state, and federal laws and regulations relating to this RFP and, if applicable, the performance of the Agreement.

7.19. Venue

It is agreed by the parties that any action at law, suit in equity, or other judicial proceeding to enforce or construe this Agreement, or regarding its alleged breach, shall be instituted only in the Circuit Court of Cole

County, Missouri.

7.20. Ownership of Records

All documents, reports, exhibits, etc., produced by the Offerors at the direction of MHTCs representative and information supplied by MHTCs representative shall remain the property of MHTC.

7.21. Release to Public/Confidentiality

No material or reports prepared by the successful Offeror shall be released to the public without the prior consent of MHTCs representative.