Financial advisor

Mackinac County is seeking a qualified financial advisor to provide comprehensive debt management services through a competitive Request for Proposal (RFP) process. The county is procuring an independent financial advisory firm to serve as its Financial Advisor on Debt Financing Projects for a five-year contract period, anticipated to begin on or about June 1, 2024. The selected contractor will be responsible for analyzing and making recommendations regarding the size, structure, and specific terms of debt management, including preparing financing plans, cash flow schedules, participating in working group meetings, assisting with underwriter selection, preparing official statements, supporting credit rating negotiations, and managing sale processes. Key procurement dates include a proposal deadline of Tuesday, April 23, 2024 at 11:00 AM, with questions due by Thursday, April 11, 2024 at 9:00 AM. The evaluation process will comprehensively review proposals based on qualifications, experience, understanding of specifications, available resources, adherence to requirements, cost, and references.

While no specific set-aside designations or enterprise restrictions are explicitly mentioned in the documentation, the RFP indicates that respondents should provide detailed fee structures, including a base fee, fee per $1,000 of par value, and fee structures for different types of bond issues. The county operates with an approximately $303 million budget and maintains an AA rating from Standard and Poor's, historically issuing around $12 million in delinquent tax anticipation notes annually and averaging one bond issue per year. Potential bidders will need to demonstrate extensive experience in municipal financial advisory services, with a comprehensive understanding of debt management strategies and the ability to provide independent financial advice. The attached W-9 form suggests that the winning contractor will be required to complete standard tax documentation for payment processing. While a specific contract value is not explicitly stated, the complexity of services and the county's financial scale suggest a potentially significant engagement for the selected financial advisory firm.