Financial Advisor Services

The Arkansas Natural Resources Commission (ANRC) is seeking a financial advisor to provide comprehensive services for its G.O. Bond Program through a competitive Request for Proposal (RFP). The solicitation, with contract opportunity ID 680110021b027ac80303d156, requires a qualified Municipal Advisor registered with the U.S. Securities and Exchange Commission and the Municipal Securities Rulemaking Board who maintains a physical office in Arkansas. Prospective contractors must demonstrate a minimum of five years of experience as an underwriter and carry professional liability insurance of at least $7.5 million. The financial advisor will be responsible for critical bond program activities including bond registrar selection, creating bond issuance schedules, preparing official statements, conducting market analyses, and providing ongoing financial advisory services for Water, Waste Disposal, and Pollution Abatement Facilities G.O. Bond Program. The evaluation process will utilize a comprehensive point system across four subsections: Experience (25 points), Solution (25 points), Risk (20 points), and Interview (30 points), totaling 1,000 possible points. Proposals are due by May 9, 2025, at 3:00 PM Central Time, with an anticipated contract start date in July 2025, and the contract will have an initial three-year term with potential for up to four additional one-year renewals.

The RFP demonstrates a commitment to inclusive procurement by incorporating provisions for small and diverse businesses, with specific references to minority and women-owned business designations. Contractors must complete a comprehensive Contract and Grant Disclosure form, which requires detailed reporting of relationships with state government personnel, including ownership interests, positions of control, and familial connections to government officials. Subcontractor agreements must also adhere to strict disclosure requirements, with documentation to be submitted within 10 days of agreement execution. The solicitation includes mandatory state policy certifications, requiring contractors to confirm they do not boycott Israel, knowingly employ illegal immigrants, boycott specific industries, or employ scrutinized companies. While a specific contract value is not explicitly stated, the pricing sheet provides a framework for fee calculations based on bond amounts, with rates structured for bonds under $10 million, between $10-20 million, between $20-30 million, and over $30 million. The competitive nature of the procurement and the comprehensive evaluation process suggest the state is seeking a high-quality, cost-effective financial advisory service for its bond program.