Capital Improvement Funding

The Tohopekaliga Water Authority, a special-purpose governmental entity in Osceola County, Florida, is soliciting sealed term sheets from financial institutions for a direct placement loan to finance capital improvements to its water system. The Authority seeks financing of up to $190 million through the issuance of a Tohopekaliga Utility System Revenue Note, Series 2026A, with proceeds to fund various water system capital improvement projects and associated costs of issuance. Qualified financial institutions must submit complete term sheets that include proposed interest rates, rate lock periods, repayment structures, fees, collateral and security requirements, covenants, and conditions precedent, along with evidence of credit approval, capital adequacy confirmation, ratings information, audited financial statements, and proof of good standing. The Note will mature on October 1, 2029, is anticipated to be refinanced by an EPA-funded WIFIA loan or system funds prior to maturity, and will be issued as a non-bank tax-exempt obligation secured by a lien and pledge of the Authority's Pledged Revenues on parity with outstanding Authority bonds and notes. The Authority's deadline for written questions is January 21, 2026, at 12:00 p.m., with sealed proposals due electronically through the Bonfire portal on January 29, 2026, at 2:00 p.m.; the Authority anticipates awarding the loan on or before March 25, 2026, with funding expected by April 1, 2026, and all commitments remain binding until March 24, 2026.

All responding financial institutions must comply with extensive eligibility and compliance requirements established by the Tohopekaliga Water Authority. Vendors must complete and submit multiple notarized certifications and affidavits, including proof of E-Verify registration and use compliance under Florida Statutes Section 448.095, affidavits of non-collusion and non-interest of Authority employees, anti-human trafficking certifications, drug-free workplace compliance forms, and attestations confirming they are not on Florida's convicted vendor list, the Scrutinized Companies that Boycott Israel List, or the Scrutinized Companies with Activities in Sudan or Iran Terrorism Sectors Lists. For contracts exceeding $1,000,000, responding institutions must further certify they do not conduct business operations in Cuba or Syria and are not controlled by entities from Foreign Countries of Concern, including China, Russia, Iran, North Korea, Cuba, Venezuela, and Syria. The solicitation does not designate set-asides for disadvantaged enterprises or specify particular organizational types as restricted or preferred; however, the Authority reserves the right to immediately terminate contracts and pursue all available legal remedies for any false certifications, subsequent placement on restricted vendor lists, or violations of eligibility requirements. The borrower shall pay all costs and expenses incurred by the purchaser in connection with document preparation, review, administration, and enforcement, with legal fees estimated at a specified amount plus disbursements.