RP040_24 Inv.pdf

August 13, 2024

REQUEST FOR PROPOSAL

RP040-24

The Gwinnett County Board of Commissioners is soliciting competitive sealed proposals from qualified consultants for the Provision of Financial Advisory Services on a Multi-Year Contract for the Department of Financial Services.

Proposals must be returned in a sealed container marked on the outside with the Request for Proposal number and Company Name. Proposals will be received until 2:50 P.M. local time on September 12, 2024 at the Gwinnett County Financial Services

- Purchasing Division – 2nd Floor, 75 Langley Drive, Lawrenceville, Georgia 30046. Any proposal received after this date and time will not be accepted. Proposals will be publicly opened and only names of submitting consultants will be read at 3:00 P.M. A list of consultants submitting proposals will be available the following business day on our website www.gwinnettcounty.com.

A pre-proposal conference is scheduled for 10:00 A.M. local time on August 22, 2024. All consultants are urged to attend. To access, dial 408-418-9388, and enter Access Code 2345 439 8410##. Questions regarding proposals should be directed to Casey Beauston at casey.beauston@gwinnettcounty.com, or by calling 770-822-7995, no later than 3:00 p.m. on August 23, 2024. Proposals are legal and binding upon the proposer when submitted. One unbound single sided original, four (4) bound copies, and one (1) electronic copy on a flash drive should be submitted.

Successful consultant(s) will be required to meet insurance requirements. The Insurance Company should be authorized to do business in Georgia by the Georgia Insurance Department and must have an A.M. Best rating of A-5 or higher.

Gwinnett County does not discriminate on the basis of disability in the admission or access to its programs or activities. Any requests for reasonable accommodations required by individuals to fully participate in any open meeting, program or activity of Gwinnett County Government should be directed to the ADA Coordinator at the Gwinnett County Justice and Administration Center, 770-822-8165.

The written proposal documents supersede any verbal or written prior communications between the parties.

Selection criteria are outlined in the request for proposal documents. Gwinnett County reserves the right to reject any or all proposals to waive technicalities and to make an award deemed in its best interest.

Award notification will be posted after award on the County website, www.gwinnettcounty.com, and consultants submitting a proposal will be notified via email.

We look forward to your proposal and appreciate your interest in Gwinnett County.

Casey Beauston Purchasing Associate II

The following pages should be returned as part of your proposal: Cost Proposal (Separate Sealed Envelope), Pages 60-61 Consultant Information, Page 62 References, Pages 63 Contractor Affidavit & Agreement, Page 64 Code of Ethics Affidavit, Page 65 http://www.gwinnettcounty.com/ mailto:casey.beauston@gwinnettcounty.com http://www.gwinnettcounty.com/

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INTRODUCTION

Gwinnett County (the County) intends to award a multi-year contract for the provision of financial advisory services. The services to be performed under this Agreement shall commence upon award by the Board of Commissioners. The initial term of this Agreement shall be through December 31, 2025. This contract will terminate immediately and absolutely at such time as appropriated and otherwise unobligated funds are no longer available to satisfy the obligations of the County under the contract. In addition, the County has the sole right to terminate this contract absolutely and without further obligation on its part at the close of the calendar year in which it was executed and at the close of each succeeding calendar year for which it may be renewed. The contract shall automatically renew unless positive action is taken by the County to terminate the contract for a total lifetime Agreement term of five (5) years upon the same terms and conditions.

Gwinnett County, Georgia requests proposals from qualified Consultants to provide Financial Advisory Services to the Gwinnett Department of Financial Services on behalf of Gwinnett County Board of Commissioners (hereinafter called “The County”). The County intends to enter into a contract with a qualified entity to provide financial advisory services in connection with various financing transactions and programs and to act as the County’s “municipal advisor” as contemplated by the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) and the Securities and Exchange Commission’s Rule 15bA-1 (the “Municipal Advisor Rule”). The Financial Advisor will be retained to assist the County in developing and implementing strategies to meet its long-term financial needs. Assignments will be made on a task order basis; that is, to serve as financial advisor to complete a particular transaction or to work on discreet projects related to debt management or other financial matters.

BACKGROUND

Gwinnett County is located within the metropolitan Atlanta area. The County has been one of the fastest growing counties in the United States during the last 30 years. With nearly 1,000,000 residents, Gwinnett is the 2nd largest county in Georgia.

The County is governed by an independently elected five-member Board of Commissioners elected for four-year terms. The County is divided into four districts, each of which is represented by one Commissioner elected from within its boundaries. The Chairman or Chairwoman is elected on a county-wide basis. The County Commission employs a County Administrator who is responsible for operational matters of the County in accordance with the policies of the Board of County Commissioners.

When adopted, the 2024 Budget, including all operating and capital funds, was approximately $1.8 billion. The Operating Budget was $1.97 billion, and the Capital Budget was approximately $561 million. The five-year Capital Plan was $2.53 billion. The County government provides traditional county services, such as road construction and maintenance and court-related functions, as well as typical municipal services such as police, fire, emergency medical, recreation, and water and sewer. Private firms provide sanitation services through franchise agreements.

Since 1997, the County has maintained a triple-AAA credit rating from all three rating agencies.

All financial actions of the County are entered into with the purpose of ensuring and sustaining the long-term financial integrity of the County, maintaining the highest possible credit ratings, and preserving and enhancing the quality of life, safety and welfare of its residents. A greater understanding of the County’s overall operations and financial condition may be obtained from its most recent annual audited financial statements for the year ending December 31, 2023, as well as the monthly unaudited financial reports. Financial reporting information can be found at:

http://www.gwinnettcounty.com/portal/gwinnett/Departments/FinancialServices/Accounting http://www.gwinnettcounty.com/portal/gwinnett/Departments/FinancialServices/Accounting

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The County’s most recent budget can be found at:

2024 Budget - Complete Document (gwinnettcounty.com)

In previous years, the County and its associated Authorities and Agencies have issued general obligation bonds, tax anticipation notes, Water and Sewerage Authority revenue bonds, Development Authority revenue bonds, and Urban Redevelopment Agency revenue bonds. The County also has a successful pay-as-you go Special Purpose Local Option Sales tax (SPLOST) program. The County may also seek ad hoc requests for the assistance of the Financial Advisor for guidance with financial planning. The principal function of the Financial Advisor will be to provide independent advice that serves solely the interests of the County in accordance with the fiduciary duties of a municipal advisor under Dodd-Frank and the Municipal Advisor Rule.

The following is a general list of anticipated transactions and types of services to be provided:

A. Services

1) Policy or Procedural Advice (such as state or federal legislative interpretation)

2) Market Condition or Other Research on Rates or Structures

3) Investor Relations, Publications, and Reports

4) Review/Analysis, as a requested (such as a review of information used in negotiations, fiscal/economic impact, feasibility study, economic development)

5) Topical presentations (policy analysis or white paper reports), as requested, to appointed or elected officials

6) Other services of a similar nature and scope

B. Transactions

1) General Obligation bond issues

2) Revenue Bond issues

3) Refunding Bond Issues

4) Special Tax/Development District Bond Issues

5) Lease Revenue Bond Issues

6) Lease Transaction

7) Other Financing Transactions (such as economic development related financing, short-term borrowing, private placements, etc.)

SCOPE OF SERVICES

The scope of services to be provided by the financial advisor may include one or more of the following services for each financing project or task to be performed.

a) Policy guidance and procedural advice – assist the County in its overall approach to the subject financing, making recommendations on policy and procedures to follow to minimize risk, maximize services to citizens, and ensure prudent fiscal management;

b) Development of a financing plan delineating the purpose of the financing, its structure, and including recommendations on the method of sale, ratings, bond sizing, insurance, etc.

c) Implement competitive financings, including production of preliminary and final official statements, and publication and distribution of sale documents;

d) Advise the County in negotiated financings, including production and distribution of Requests for Qualifications (RFQs) and Requests for Proposals (RFPs), production of preliminary and final offering memorandum, advising on issue pricing, discussions with underwriters, and publication and distribution of sale documents;

e) Develop or assist in the development of presentations and communications to bond rating agencies;

f) Develop and implement investor relations program and marketing plan for any financing the County should pursue;

https://www.gwinnettcounty.com/static/departments/boc/pdf/2024-Budget/gwinnett-county-2024-budget-complete-document.pdf https://www.gwinnettcounty.com/static/departments/boc/pdf/2024-Budget/gwinnett-county-2024-budget-complete-document.pdf

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g) Provide advice and input on the timing of County debt issues, especially regarding other major state and local debt issues that may coincide or compete with County sales as well as the timing of significant market activity which may impact the success of County sales;

h) Monitor interest rate levels, and assist and advise the County on refunding opportunities;

i) Assist and advise the County in the review of Federal and State legislation impacting the

County’s financing programs;

j) Assist the County on special projects relating to debt issuance and financial matters;

k) Assist the County on special projects related to fiscal and economic impact analysis, feasibility studies, and/or special tax structures;

l) Assist the County on special projects related to economic/business development.

Examples of the types of detailed activities are listed below.

General Financial Planning

1. Consultation, as needed, with the County and its financial staff regarding various financing options or problems.

2. As requested by the County, provide directly, or through third parties as agreed upon with the

County: review of the County’s investment portfolios with the objective of establishing overall strategies, performance goals and risk factors; consulting with County staff or external fund managers relative to the foregoing; providing general financial consulting services for banking, cash management, debt management, long term investments, evaluation of retirement or pension systems, etc.

3. Quarterly review of existing debt structure and financial resources of the County to determine the desirability of refinancing existing debt.

4. Annual data on rating agency medians and annual list of triple-AAA counties.

5. Advice on proposed and actual changes in tax laws, IRS and U.S. Treasury requirements related to tax-exempt and tax credit bonds (including direct-pay bonds such as Build America Bonds), as well as changes in the financial markets that would require action by the County.

a. Alert County to any events related to bond covenants, continuing disclosure, or market disruption that would warrant action by the County.

b. Should the County have variable rate debt in its portfolio, quarterly valuations of swaps outstanding and an annual report of the risks associated with the swaps. At this time, the County has no variable rate debt.

6. If required, work with County staff and bond counsel to coordinate all actions required for defeasance of any bond issue, including advice about filing material event notices.

7. Assist in the pricing and securing of tax anticipation notes as necessary based upon the

County’s cash flow needs.

8. As requested by the County, provide research and analysis assistance as requested in connection with economic development opportunities, special taxing districts, potential operational cost saving opportunities, public-private partnerships, special state/federal grant, loan or financing opportunities, special projects, etc.

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Debt Issuance Related

9. Periodically evaluate financing options and advise staff as to the most beneficial method available among alternatives. Examples might include lease vs. purchase analysis or analysis related to economic development projects.

10. Assist County in creation of calendar of events supportive of an issue and assist with the preparation of Official Statements for bond issues in conjunction with bond counsel and County staff.

11. Arrangement for the widest possible distribution of Official Statements to bond underwriters and investors.

12. Assistance in the timely marketing of bond issues, derivative products, notes, certificates of participation, etc.

13. Assistance in determining the best bid received on a competitive sale.

14. Assistance in preparation for bond closing.

15. Advice on terms and features of bonds and on timing and marketing of bond issues.

16. Assistance with the preparation of cash flow forecasts for proposed bond issues addressing debt service requirements and sources of funding.

Investment Related

17. Assistance in the selection of investment banking firms, when required.

18. Serve on Investment Committee in an advisory capacity, as needed, lend expertise related to financial markets and economic outlook, provide recommendations to meet Gwinnett County investment needs.

19. Advice on the investment of bond proceeds in accordance with applicable laws, when needed.

20. Assistance in compliance with arbitrage rebate requirements. Arranging for arbitrage calculations, along with the preparation of federal reports and forms; or reviewing arbitrage calculations completed by County staff or others.

Other

21. Assistance in selecting trustees, escrow agents, paying agents, and other financial intermediaries, as necessary.

22. Coordination of applications for future credit ratings in order to maintain the highest possible credit rating. Preparation of applications for bond insurance as applicable, liquidity provider, line of credit, or other credit enhancement devices, as needed. Analysis of savings which will result from the use of recommended credit enhancement devices.

23. Attendance at County Commission meetings or Authority meetings with staff, as requested.

24. Assistance in preparation for audits, IRS examinations, SEC investigations, court proceedings, or other legal or regulatory matters; representing the County as requested in such matters.

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25. Develop and deliver informational presentations for the Board of Commissioners as requested including detailed analysis of the given subject and recommended actions as appropriate.

GENERAL QUALIFICATIONS

Consultant should have served as a Financial Advisor to jurisdictions comparable to Gwinnett County, Georgia, in size and complexity of their debt program (issues and related financings).

Consultant should be experienced in the types of municipal financing transactions contemplated in this Proposal. Consultants should also have staff available to perform work in a timely manner, according to the County’s frequently moving schedules and targets.

Consultant must be currently registered with both the Security and Exchange Commission (SEC) and Municipal Securities Rulemaking Board (MSRB) as a Municipal Advisor and provide with its response a Certificate of Current Municipal Advisor Registration from the MSRB. Consultant must disclose firm’s current ownership structure, including beneficial owners, and other affiliated regulated business, as well as any individual who may have securities licenses or Municipal Advisor registrations held with other entities

TECHNICAL PROPOSAL FORMAT

Proposals should be prepared in the standard format described below, in order to facilitate comparison and evaluation. Failure to follow the format or to address an area adequately may cause the proposal to be deemed unresponsive and excluded from consideration. Any proposed deviations from the requested scope of services must be noted and fully explained.

The proposer’s response should be limited to direct answers to the questions below. Proposers are required to answer all the following questions and requests for information. Additionally, proposers should not exceed the maximum response length for each question. All quantitative material should include complete assumptions and be supported by detailed schedules evidencing all calculations and results.

Responses to the questions should be clear and concise. Where appropriate, statistical information should be shown in a tabular format, and textual information in bullet form. If possible, summarize key information or points for each question at the beginning of answers.

Cover Letter:

Consultant shall prepare and submit a cover letter for transmittal addressing General Qualifications.

(Limit response to 4 pages.)

• Provide the following information:

Name of Proposer Name and title of the person or persons who will manage the engagement Mailing address Telephone, Fax numbers and Email address of Proposer

• Address the organization of your firm, the location of offices, and how resources can be put to work for the County.

• Demonstrate the advisor’s understanding of the issuer’s financial situation, including ideas on how Gwinnett County should approach financing issues such as bond structures, credit rating strategies, and investor marketing strategies;

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• Demonstrate the advisor’s knowledge of local political, economic, legal, or other issues that may affect the County’s financial plan;

• Of the services listed in the Scope of Services, indicate which ones, if any, your firm would be unable to provide. If there is another service that your firm could provide instead, please elaborate;

• Joint proposals are not accepted, however, the contract for Financial Advisory Services allows for the selected consultant to utilize subcontractors, as needed. Proposals need to be submitted by the consultant who would hold the contract with the County for services. If plans to subcontract portions of the required services are included, please provide detail on such plans;

• Disclosure of any affiliation or relationship with any broker-dealer;

• Disclosure of any finder’s fees, fee splitting, payments to consultants, or other contractual arrangements of the firm that could present a real or perceived conflict of interest;

• Disclosure of any pending investigation of the firm or enforcement or disciplinary actions taken within the past three years by the SEC or other regulatory bodies;

• Analytic capability of the Advisor and assigned individuals to the County’s program;

• The availability of ongoing training and educational services that could be provided to the

County and related costs;

• Amounts and types of insurance carried, including the deductible amount, to cover errors and omissions, improper judgments, or negligence;

Provide an attachment of recent representative example of a municipality’s official statement in which your firm acted as Financial Advisor.

Tab A – Staff Experience Assigned to Gwinnett County – 45 Points

1. Financial Advisory Team (Limit response to 4 pages)

Provide the names, backgrounds, office locations, and phone numbers of individuals who will be assigned to this engagement on a full-time basis. Describe the professional backgrounds of these and only these individuals, particularly their experience in the State of Georgia. Clearly indicate each individual’s responsibilities during the engagement. Resumes may be included as an Appendix to the proposal response.

2. Technical and Analytical Support (Limit response to 2 pages)

Discuss and provide specific information concerning the in-house technical support, computer modeling, and financing analysis capabilities, which the proposer will provide to the County.

Detail the background and experience of technical staff. If technical support and analysis is to be provided by a firm other than the Proposers through a subcontracting arrangement, identify that firm and its relationship to the Proposer and its experience and resources to provide such services.

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3. Locale and Access to the County (Limit response to 1 page) Describe the logistics of the Proposer’s accessibility to the County in terms of geographic location of the individuals with primary responsibility for the client relationship with the County, and the travel time and restrictions, if any, to be on site, at the County. In addition, indicate how travel cost and time will be billed, i.e., from the point of origin or as if the Proposer were situated in the County.

4. Financial and Statistical Background of the Proposer (Limit response to 1 page)

Prepare tabulation presentations for the following as of the date when such information is most recently available:

1) Longevity as a municipal financial advisor

2) Number of employees and number of whom are professional staff

3) Description of ownership structure and business dealings of parent companies, if any

Most recent financial statement may be included as an Appendix to the proposal response.

5. Experience as a Financial Advisor in Georgia (Limit response to 4 pages)

Briefly discuss relevant experience of the Proposer and the experience of the specific persons who would be assigned to work with the County based on their financial advisory experience in Georgia. Also provide evidence of specific experience related to public finance projects including but not limited to local government borrowing, economic development or redevelopment projects, and strategic financial advising. In tabular form, provide a listing aggregated by type of security, e.g. bonds (new money and refunding), COPs, bank loans, community and special assessment districts, etc., enumerating the aggregate dollar amount and number of each type of tax-exempt and taxable security issued by Georgia state and local governmental issues for which the Proposer has acted as a financial advisor since January 1, 2020. Clearly distinguish for each security types the dollar amount and number of transactions which were competitive and negotiated. Provide types of securities and names of clients. An appendix to the proposal response may be included if necessary.

In particular, discuss relevant experience with economic development financing and public-private partnerships. Lastly, identify defaulted issues for which the Proposer has acted as financial advisor, and provide an explanation of such default.

6. Experience as Financial Advisor Nationally (Limit response to 4 pages)

Briefly discuss relevant experience of the Proposer and the experience of the specific persons who would be assigned to work with the County based on their financial advisory experience nationally. Also provide evidence of specific experience related to public finance projects including but not limited to local government borrowing, economic development or redevelopment projects, and strategic financial advising. In tabular form, provide a listing aggregated by type of security, e.g. bonds (new money and refunding), COPs, bank loans, community and special assessment districts, etc., enumerating the aggregate dollar amount and number of each type of tax-exempt and taxable security issued by Georgia state and local governmental issues for which the Proposer has acted as a financial advisor since January 1, 2020. Clearly distinguish for each security types the dollar amount and number of transactions which were competitive and negotiated. Provide types of securities and names of clients. An appendix to the proposal response may be included if necessary.

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In particular, discuss relevant experience with economic development financing and public-private partnerships. Lastly, identify defaulted issues for which the Proposer has acted as financial advisor, and provide an explanation of such default.

7. Proposer’s Pending Litigation (Should limit response to 2 pages, but permissible to exceed) Identify fully the extent to which the Proposer or any of its individual partners or employees are the subject of any ongoing securities investigation (including investigations undertaken by the SEC, state blue-sky commissions, the U.S. Department of Justice and the Internal Revenue Service pursuant to IRC Section 6700), are a party to any securities litigation or arbitration, or are the subject of a subpoena in connection with a municipal securities investigation, including any investigations involving auction rate securities and bid-rigging. Include any such investigations which concluded in an enforcement or disciplinary action ordered or imposed in the last three years and a description of those actions. Also, indicate whether the Proposer has ever filed for bankruptcy and describe the circumstances.

8. Conflict of Interest (Limit response to 1 page)

Describe any actual or possible conflict of interest which may result from the Proposer acting as financial advisor to the County, including current or expected engagements with authorities, agencies or other corporate or governmental bodies in the County or the State of Georgia and engagements with political consultants or lobbyists. Describe the current status and timing of any announced mergers with, or acquisitions of, any other firm that could impact the firm’s acting as the County’s Financial Advisor.

9. MSRB Compliance Provide a statement to certify that the Proposer currently is in compliance with MSRB rules G- 37 and G-38, if applicable. For purposes of this Proposal, officials of the issuer include the elected officials who serve on the Board of Commissioners of Gwinnett County or on the boards of any of the County’s Authorities.

Tab B – Understanding of Debt Markets – 10 Points Describe firm’s ability to structure and price financings. Explain the processes used to determine market timing, maturity, structure, ratings, and credit enhancements. Also describe firm’s recommended refunding methodology and criteria. (Limit response to 3 pages)

Tab C – Quality of Work – 15 Points

1. Case Study (Limit response to 3 pages)

Develop a case study based on the County’s outstanding (or projected debt) or general fiscal condition, in which the Proposer is to discuss a specific situation where a recommended action would improve or enhance the County’s debt management, fiscal management, or credit.

Describe the situation and the basis for recommending the improvement, explain the strategy for implementing the solution, and discuss the benefits and/or attendant risks.

2. Innovative Problem Solving (Limit response to 4 pages)

Provide at least one, and not more than three, examples of financing or financing management advice given to a client who, in the opinion of the Proposer, represents innovative problem solving initiated by the Proposer, or is otherwise of particular note.

Tab D – References – 10 Points Provide three references from prior or existing financial advisory engagements with governmental bodies, which are comparable with the County (i.e., population base, operating and capital budget, debt outstanding, credit rating, and a similar political and geographic environment). Use the enclosed References sheet (page 18).

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Pricing – (Submit in a Separate Envelope) -20 Points Use the enclosed Cost Schedule.

SELECTION PROCESS

The proposals will be reviewed by a selection committee composed of County personnel. Using the Proposal Evaluation Criteria that follow, the Committee will evaluate all responsive technical proposals, and score and rank them accordingly.

Part 1 Points A Staff Experience Assigned to Gwinnett County 45 B Understanding of Debt Markets 10 C Quality of Work 15 D References 10

Subtotal 80 Part 2

E Cost (Submitted in a separate sealed envelope) 20 Subtotal 100

Part 3 F Optional Interview 10

TOTAL 110

Part 1: Evaluation Committee will evaluate responses according to the criteria as described above, and score and rank the proposals. Proposals will be evaluated by section based on the responsiveness to the requirements of this RFP and the evaluation criteria outlined above. The Technical Proposals will be evaluated in order to select the consultant(s) which rate(s) highest according to the criteria elaborated above (Part 1, A-D). The Evaluation Committee may shortlist the highest-ranking consultant(s). Gwinnett County reserves the right to reject any or all proposals, in whole or in part; to negotiate changes in the scope of services; and to waive any technicalities as deemed in its best interest.

Part 2: The shortlisted consultants’ Cost Proposals will then be opened, scored, and the results will be combined with the results of Part 1 scoring. After this scoring, a number of the highest-ranking consultants may again be shortlisted at the discretion of the Evaluation Committee.

Part 3: At the discretion of the Evaluation Committee, a presentation may be scheduled to provide a brief explanation of the consultant’s services and how the consultant proposes to provide this service for the County. If interviews are necessary, details on the scoring criteria for interviews will be provided along with notification of the scheduled interview. All presentations/interviews will be the sole responsibility of the proposing consultant(s) and at no cost to Gwinnett County.

The County may negotiate terms of the contract with the finalist(s). Gwinnett County reserves the right to reject any or all proposals, in whole or in part, to negotiate changes in the scope of services and to waive any technicalities as deemed in its best interest. The County may negotiate terms of the contract with the finalist(s). The County reserves the right to request clarification and additional information from proposing consultants if such information is needed to assist in the evaluation process.

If an agreement with the highest-ranked consultant cannot be reached, Gwinnett may then negotiate with the second-ranked consultant, and so on, until a satisfactory agreement has been reached.

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Insurance The selected Consultant will be responsible for providing evidence of insurance coverage as required in the Insurance Requirements and maintaining said insurance throughout the period of service.

Consultant’s Assumption and Expectation of the County The consultant selected will be expected to provide financial advisory services related to all existing short- and long-term borrowings currently in existence, as well as any proposed short and long-term borrowings, including bonded debt issues which may be proposed and issued from time to time during the period covered by this contract. The consultant will also be expected, as needed, to provide actionable suggestions related to the County’s long-term financial plan.

A list of the County’s currently issued and outstanding Bonds is included as Attachment A (pages 14-18).

A copy of 2023 CAFR Note 8 is included as Attachment B (pages 19-26).

A copy of the County’s Debt Management Policy is included as Attachment C (pages 27-59).

Additional Requirements Any prospective Advisor must make an affirmative statement to the effect that their retention, if selected, shall not result in a conflict of interest with any party, which may be affected by this program. This statement is included as part of the proposed contract. The Advisor will be precluded by the terms of the agreement from participating in as investment banker, swap counterparty, underwriter or in any manner other than as the Financial Advisor for bonds of the County. Alternatively, should any potential or existing conflict be known by a prospective advisor, said prospective Financial Advisor must specify the party with which the conflict exists or might arise, the nature of the conflict and whether the prospective Financial Advisor would or would not step aside or resign from that engagement or representation creating the conflict in favor of Gwinnett County.

This Proposal requires responding consultants and their subcontractors to state that to the best of their knowledge there are no circumstances that shall cause a conflict of interest in performing services for Gwinnett County. The successful consultant will be required to sign as a part of the terms and conditions of their being engaged by the County statements regarding conflict of interest and contingency fees.

The County reserves the right to request clarification of information submitted and to request additional information of one or more applicants. Proposals are to be considered an irrevocable offer, good for a period of 120 days from submission.

The County and the selected Financial Advisor shall enter into a formal agreement; substantially in the form of the attached Sample Contract. Any questions or objections regarding the agreement document must be addressed in the response to the Proposal. If there are no objections, an affirmative statement to this effect is required.

No reports, information, or data given to, or prepared by the consultant under contract shall be made available to any individual or organization by consultant without the prior written approval of the County.

The County reserves the right to reject all proposals, and to negotiate fees, conditions, or terms with the respondent submitting the overall best proposal.

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Cost Proposal Information In consideration of cost proposal, assume the following:

Bonds issued by the County will be sold on a competitive basis and are marketed via Notice of Sale (“NOS”), Preliminary Official Statement (“POS”), and Official Statement (“OS”). While the fee proposals will be evaluated under this proposal, the County may adjust the method of sale based upon market trends and the complexities of the offering.

From time-to-time, the County has used negotiated sales for refundings. The County’s preference is for a competitive sale; however, if the market conditions or the nature of the issue suggest better results with a negotiated sale, the County will work with the selected financial advisor to structure such an issue.

County staff and the County’s Bond and Disclosure Counsel actively participate in the preparation of the POS, NOS, and OS. Disclosure Counsel distributes documents for review, comment, and approval. Gwinnett County Department of Financial Services will distribute documents for review, comment, and approval within Gwinnett County and consolidate comments. Generally, Disclosure Counsel and Bond Counsel will handle all Word processing functions related to the bond documents.

The Financial Advisor will be responsible for providing guidance to the County and legal counsel in preparation of these documents particularly recommendation about the structure.

The Financial Advisor will be responsible for providing language for selections of the documents which a Financial Advisor would normally be expected to generate including, but not limited to, document summaries, summaries of sections describing the Bonds/Notes and redemption and registration matters.

The Financial Advisor will be responsible for electronic posting of the POS/NOS/OS using nationally recognized firms such as http://www.onlinemunis.com or www.i-dealprospectus.com and for the e-mailing of the documents to local firms who specially request to be included in the bidding process.

The Financial Advisor will be responsible for marketing the County’s transactions to prospective investors.

The Financial Advisor will be responsible for overseeing the bidding processing that may include hand-delivery, faxed delivery, and/or electronic delivery of the bids via the PARITY system or equivalent. Evaluation of the bids will take place immediately after the bid deadline and advice will be given the County’s Finance Director regarding the acceptance of the winning bid.

The Financial Advisor will be responsible for evaluating existing bonds for possible refunding opportunities and determining the size of the issue

General Requirements

A. Please submit one (1) unbound original (secured by binder clip or rubber band), four (4) complete and exact bound copies, and one (1) electronic copy on a flash drive of the original proposal. The Cost Proposal shall be submitted in a separate, sealed envelope inside the regular proposal submittal envelope or container. The separate, sealed envelope should be marked as “Cost Proposal.” Be sure to mark RP040-24 and the consultant’s name.

http://www.onlinemunis.com/ http://www.i-dealprospectus.com/

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B. The full cost for proposal preparation is to be borne by the proposing consultant.

Proposals should be signed in ink by a company official that has authorization to commit company resources.

C. Any proprietary information contained in the proposal should be indicated; however, a general indication that the entire contents, or a major portion, of the proposal is proprietary will not be honored. All consultants should be aware that this proposal and the responses thereto are subject to Georgia open records laws. All proposals received in response to this proposal will become the property of the County and will not be returned to respondents.

D. To be considered, each consultant must complete a response to this proposal. Responses cannot be faxed or emailed. Proposals submitted are not publicly available until after award. Proposals shall be submitted in a sealed envelope/package. Envelope/package shall be addressed to Gwinnett County Department of Financial Services, Purchasing Division, 2nd Floor, 75 Langley Drive, Lawrenceville, Georgia 30046 and shall be identified with the proposal number, date of opening, and company name on the outside.

E. By submitting a proposal, the consultant certifies that it has fully read and understands the proposal method and has full knowledge of the scope, nature, and quality of work to be performed. It is the responsibility of the proposing consultant to ensure that it has all applicable addenda prior to proposal submission. Addenda will be posted on the website www.gwinnettcounty.com. Receipt of addenda shall be acknowledged in the proposal on the appropriate form provided in the solicitation.

F. Individuals, firms, and businesses responding to this proposal may not initiate or continue any verbal or written communications regarding this solicitation with any County officer, elected official, employee, or other County representative between the date of the issuance of the solicitation and the date of the final contract award by the Investment Committee.

All communication must come through the listed Purchasing Associate.

G. The “Proposal Documents” of the organization selected will be incorporated into the service contract in their entirety.

H. Proposer should assume that the County will base its entire decision-making on the Proposal. The Consultant’s best terms, conditions, and pricing should be submitted as there are no plans or any guarantees that the County will seek additional information on and/or clarification of initial Proposals.

I. The selected consultant(s) will be responsible for providing evidence of the insurance coverage as required in this solicitation and shall maintain said insurance throughout the contract.

J. Any exceptions must be clearly stated in the submittal. The County will take into account any exceptions in its scoring and evaluation process and consultants are strongly encouraged to address and comply with the requirements included herein. Taking exceptions to the provisions and requirements of this proposal, as well as failure to address the items of this proposal, may result in a response receiving a substantially lower score.

http://www.gwinnettcounty.com/

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RP040-24 Attachment A

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RP040-24 Attachment B

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RP040-24 Attachment C

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FAILURE TO RETURN THIS PAGE AS PART OF YOUR PROPOSAL DOCUMENT MAY RESULT IN

REJECTION OF PROPOSAL.

COST PROPOSAL

(TO BE SUBMITTED IN A SEPARATELY SEALED ENVELOPE)

Company Name

1. Fixed Fees

Annual flat fee (to be billed quarterly) $_________________

This represents ___________ hours of work each quarter.

Note: The current contract is for approximately 6 hours of work per month (18 hours per quarter or 72 hours annually). If there is a reason that your firm would need more than this amount of time for advisory services, please indicate the amount of time and the reasons why.

2. Hourly Fees

County’s Position Description Proposer’s Position Description Hourly Rate

Managing Director

Senior Managing Consultant

Consultant

Analyst or Associate

Other Staff $

3. Transaction Fees (Bonds)

Issuance Amount Fees

Less than $50 million (Per 1,000 of bonds) $

Incremental over $50 million (Per 1,000 of bonds) $

Minimum Fee (Per Transaction) $

Surcharge for Competitive Sale, if any (per 1,000 of bonds) $

Surcharge for Refunding, if any (per 1,000 of bonds) $

Maximum fee $ Other transaction fees (such as a bank loan, private placement, TANs, etc.)

Spell out clearly

RP040-24 Page 61

FAILURE TO RETURN THIS PAGE AS PART OF YOUR PROPOSAL DOCUMENT MAY RESULT IN

REJECTION OF PROPOSAL.

COST PROPOSAL CONTINUED

(TO BE SUBMITTED IN A SEPARATELY SEALED ENVELOPE)

4. General Consulting Fees (to be authorized on an as-needed basis)

Financial Planning (Hourly Rate) $

Research of Financial Issues (Hourly Rate) $

5. Other Expenses (Debt Related or Reimbursement Related)

Provide detail on any other debt related and reimbursement expenses associated with your firm.

(Use separate sheet of paper.)

NOTE: Pricing for the total multi-year contract will be taken into consideration in determining award.

If a percentage increase/decrease for the automatic renewals will be a part of this proposal, please note this in the space provided below. Since pricing for the total multi-year contract will be taken into consideration in determining award, it is very important that you state a specific percentage for each of the renewal terms. The percentage must be stated as a specific number (2%, 3%, etc.) and not a range. If renewal pricing can’t be listed as a specific percentage, consultant must tie to a specific formula or list reason for increase (pass through increases, etc.). If consultant is willing to renew without any changes, please state that there will be a 0% percent increase/decrease.

Initial Term (1/1/25 – 12/31/25): Prices must remain firm throughout initial period.

Renewal Option 1 (1/1/26 – 12/31/26): % Increase/Decrease (Circle One) Renewal Option 2 (1/1/27 – 12/31/27): % Increase/Decrease (Circle One) Renewal Option 3 (1/1/28 – 12/31/28): % Increase/Decrease (Circle One) Renewal Option 4 (1/1/29 – 12/31/29): % Increase/Decrease (Circle One)

The services to be performed under this Agreement shall commence on upon award by the Board of Commissioners. The initial term of this Agreement shall be through December 31, 2025. This Agreement shall terminate absolutely and without further obligation on the part of the County at the close of the calendar year of execution and at the close of each succeeding calendar year of renewal, if renewed. This Agreement shall be automatically renewed upon the same terms and conditions unless the County terminates the Agreement on the day of the close of the calendar year in which it was executed or within sixty (60) days after the day of the close of the calendar year of execution or of each succeeding calendar year for which it may be renewed, for a total lifetime obligation of five (5) years. If applicable, title to any supplies, materials, equipment or other personal property shall remain in the vendor until fully paid for by the County. In addition, this Agreement will terminate immediately and absolutely when appropriated and otherwise unobligated funds are no longer available to satisfy the obligations of the County under the Agreement. Any obligation of the County hereunder is only for such sums payable during the calendar year of execution or each calendar year of renewal, if renewed.

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FAILURE TO RETURN THIS PAGE AS PART OF YOUR PROPOSAL DOCUMENT MAY RESULT IN REJECTION OF

PROPOSAL.

CONSULTANT INFORMATION

Please include this page as part of the Technical Response and NOT with the Cost Proposal

In compliance with the attached specifications, the undersigned acknowledges all requirements outlined in the Instructions for Vendors and all documents referred to therein, offers and agrees, if this proposal is accepted by the Board of Commissioners within one hundred twenty (120) days of the date of proposal opening, to furnish any or all of the items upon which prices are quoted, at the price set opposite each item, delivered to the designated point(s) within the time specified in the pricing response. By submission of this proposal, I understand that Gwinnett County uses Electronic Payments for remittance of goods and services. Vendors should select their preferred method of electronic payment upon notice of award. For more information on electronic payments, please refer to the Electronic Payment information in the Instructions for Vendors.

Legal Business Name

Address

Does your company currently have a location within Gwinnett County? Yes No

Representative Signature Printed Name

Telephone Number Fax Number

Email Address

Certification of Non-Collusion in Quote Preparation Signature Date

The undersigned acknowledges receipt of the following addenda, listed by number and date appearing on each:

Addendum No. Date Addendum No. Date

The County requires that all who enter into a contract for the physical performance of services with the County must satisfy O.C.G.A. § 13-10-91 and Rule 300-10-1-.02, in all manner, and such are conditions of the contract.

http://www.gwinnettcounty.com/portal/gwinnett/Departments/FinancialServices/Treasury/

RP040-24 Page 63

FAILURE TO RETURN THIS PAGE AS PART OF YOUR PROPOSAL DOCUMENT MAY RESULT IN REJECTION OF

PROPOSAL.

REFERENCES

Gwinnett County requests a minimum of three (3) references where work of a similar size and scope has been completed.

Note: References should be customized for each project, rather than submitting the same set of references for every project bid. The references listed should be of similar size and scope of the project being bid on. Do not submit a project list in lieu of this form.

1. LOCAL GOVERNMENT

BRIEF DESCRIPTION OF PROJECT

COMPLETION DATE

CONTACT PERSON

TELEPHONE FACSIMILE

E-MAIL ADDRESS

2. LOCAL GOVERNMENT

3. LOCAL GOVERNMENT

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RP040-24 Provision of Financial Advisory Services on a Multi-Year Contract

CONTRACTOR AFFIDAVIT AND AGREEMENT

(THIS FORM SHOULD BE FULLY COMPLETED AND RETURNED WITH YOUR SUBMITTAL)

By executing this affidavit, the undersigned contractor verifies its compliance with The Illegal Immigration

Reform Enhancements for 2013, stating affirmatively that the individual, firm, or corporation which is contracting with the Gwinnett County Board of Commissioners has registered with and is participating in a federal work authorization program* [any of the electronic verification of work authorization programs operated by the United States Department of Homeland Security or any equivalent federal work authorization program operated by the United States Department of Homeland Security] to verify information of newly hired employees, pursuant to the Immigration Reform and Control Act, in accordance with the applicability provisions and deadlines established therein.

The undersigned further agrees that, should it employ or contract with any subcontractor(s) in connection with the physical performance of services or the performance of labor pursuant to this contract with the Gwinnett County Board of Commissioners, contractor will secure from such subcontractor(s) similar verification of compliance with the Illegal Immigration Reform and Enforcement Act on the Subcontractor Affidavit provided in Rule 300-10-01-.08 or a substantially similar form.