Bond Underwriting Certificate Of Participation, Series 2026

The City and County of Broomfield, Colorado, is seeking underwriting services for a $70,000,000 bond issuance to fund a new Police building, with proposals due by June 30, 2025, at 3:00 pm through the BidNet system. The procurement is specifically for Certificates of Participation (COPs), Series 2026, aimed at addressing the city's rapid population growth and current police facility space constraints. The new police facility will include specialized spaces such as a tactical training room, community room, conference rooms, special enforcement team areas, an emergency operations center, and a shooting range. Qualified underwriters must demonstrate extensive experience with Colorado municipal bond issuances, particularly in Certificates of Participation. Evaluation criteria will focus on the firm's transaction experience, relevant expertise, alignment with the city's expectations, and ability to provide recommendations for credit rating strategies. The bonds are expected to be issued in January 2026, with Broomfield currently maintaining an Aa2 rating on existing Certificates of Participation. Proposing firms must submit a comprehensive proposal including an overview of underwriting experience, assigned personnel, credit rating recommendations, and a proposed fee structure.

The Request for Quote does not explicitly mention any set-aside designations or restrictions for disadvantaged enterprises. Broomfield reserves the right to reject all proposals and negotiate with prospective firms, with the understanding that if the bond issuance fails to close, proposing firms will have no recourse for incurred expenses or damages. The city currently has existing bond series from 2012 and 2017 with annual payments of $7.8M and $5.8M respectively, and maintains a Moody's rating of Aa1 for Sales Tax debt. The total procurement value is $70,000,000, with the expectation that the selected underwriter will provide comprehensive financial services for the bond issuance. No incumbent vendors are specifically mentioned in the documentation. The final engagement will be subject to mutual agreement between Broomfield and the selected underwriting firm, with a focus on securing optimal financial terms for the new police facility construction project.