Financial Advisor Services

The Missouri Department of Transportation (MoDOT) and Missouri Highways and Transportation Commission (MHTC) are seeking a qualified financial advisory firm to provide comprehensive financial services through a competitive Request for Proposal (RFP). The primary objective is to secure a financial advisor to assist with bond issuances, debt management, credit rating strategies, and ongoing financial advisory services across their transportation financing operations. Specific services include advising on municipal bond markets, structuring debt instruments, preparing offering documents, and navigating complex financial mechanisms such as TIFIA financing and public-private partnerships. The RFP requires firms to provide detailed pricing, including fixed rates for bond issuances under new and existing indentures, and hourly rates for general financial advisory services. Proposals will be evaluated across four key criteria: transportation financial advisory expertise of assigned personnel (30 points), firm experience and proposed services (30 points), cost/fees/expenses (30 points), and proposal quality/clarity (10 points). Critical dates include a proposal submission deadline of August 13, 2024, at 2:00 PM CDT, potential interviews from August 26-30, 2024, and an anticipated contract award on October 2, 2024, with an effective contract date of November 1, 2024.

The RFP actively encourages participation from Minority Business Enterprises (MBE) and Women Business Enterprises (WBE), with specific participation targets of 10% MBE and 5% WBE through subcontractors, suppliers, joint ventures, or other arrangements. Prospective firms must be registered with the Securities and Exchange Commission and Municipal Securities Regulatory Board, and comply with all applicable laws and regulations. The initial contract term is three years, with options for two additional one-year renewal periods. While no specific budget range is explicitly stated, the RFP indicates that the successful firm will work with MHTC's existing debt structure, which includes Amendment 3 bonds, GARVEE bonds, and State Appropriations Mega Projects bonds. Notably, the selected financial advisor will be prohibited from serving as an underwriter on any MHTC-related financing, ensuring a clear separation of advisory and underwriting roles. Firms must also maintain specified insurance coverages, including general liability ($4 million), automobile liability ($4 million), and workers' compensation insurance.