Bond Counsel Services

The City of Newark, New Jersey is seeking Bond Counsel Services through a Request for Qualifications (RFQ) for its Law Department. The procurement aims to establish a pool of attorneys who will provide specialized legal representation for bond and financial matters on an as-needed basis. Deliverables include representation at municipal council and Local Finance Board meetings, preparation of bond-related documents, and quarterly Key Performance Indicator reporting. Potential service providers must submit electronic qualifications through the city's e-Procurement Portal by 10:15 am on Wednesday, October 11, 2023, with no late submissions accepted. Evaluation criteria will focus on factors such as experience, reputation, knowledge of city departments, government experience, availability, and commitment to diversity. The contract term will be one year from the Notice to Proceed, with a comprehensive compensation structure that includes tiered fees for bond sales, ranging from $3,500 plus per-thousand-dollar rates, and specific charges for ordinance preparation and temporary financing.

The RFQ does not explicitly outline specific set-aside designations for disadvantaged enterprises, though the evaluation criteria suggest a commitment to diversity. Attorneys will be compensated at $150 per hour for standard services, with legal assistants billed at $100 per hour, and a blended rate of $300 per hour for attorneys and $100 per hour for assistants on Redevelopment Area Bond projects. The City of Newark reserves the right to select one or more firms based on the most advantageous qualifications. While no specific budget range is provided, the multi-tiered fee structure indicates potential significant financial opportunities for selected bond counsel. The procurement process emphasizes transparency, requiring respondents to declare participating principals and affirm submissions are made without collusion or fraud, with the city maintaining the right to modify, suspend, or terminate the procurement process at its sole discretion.