Exempt-IFA- Investment Manager- FY27

The Illinois Finance Authority is announcing its award of investment management services to Mainstreet Investment Advisors under the IFA exemption from the Illinois Procurement Code for financial services related to bond issuance; this is a notice of award, not a solicitation, with a posting date of July 7, 2026 and a due date of July 21, 2026 that applies only to document receipt or acknowledgment processes.

The IFA exemption from competitive bidding applies to contracts for legal and financial services entered into in connection with bond issuance, removing this procurement from standard Illinois Procurement Code requirements. The scope is investment management services under a contract term of twelve months beginning August 1, 2026.

A Basic Ordering Agreement (BOA) over $50,000 is the contracting vehicle. The related Fifth Third Wealth Advisors BOA—posted as a reference document—shows comparable pooled fixed income investment management services at an annual contract value of $95,000, calculated at 5 basis points on aggregated market value of assets under management, with monthly invoicing of $7,916.67. The Illinois Finance Authority's Chicago office at 160 N. LaSalle Street, Suite S-1000 serves as billing and accounts payable recipient. Funding is from locally held fiscal year 2024 budget funds with no federal involvement.

Standard Illinois certifications apply, including general commercial liability insurance of $1,000,000 per occurrence with $2,000,000 annual aggregate, auto liability insurance of $1,000,000 per occurrence, and workers' compensation insurance as required by law. All work products are deemed work for hire with exclusive ownership vesting in the State of Illinois. The State reserves the right to terminate for convenience with thirty days' notice and retains sovereign immunity; contract disputes are filed exclusively with the Illinois Court of Claims.