Issuer and Bond Disclosure Counsel Services

The Kansas Department of Transportation (KDOT) is issuing a competitive Request for Proposal for Issuer and Bond Disclosure Counsel Services to support legal and advisory matters related to bond issuance and debt restructuring activities. The primary services include drafting Official Statements in preliminary and final form, Final Remarketing Memorandums, continuing disclosure agreements, and other transaction documents necessary for bond issuances under the Kansas Comprehensive Highway Program, Kansas Comprehensive Transportation Program, Transportation Works for Kansas Program, and the Eisenhower Legacy Transportation Program. New money bond transactions are anticipated to range between $200 million and $400 million annually, with the State expecting to issue approximately $200 to $400 million in principal amount for Fiscal Years 2027 and 2028. Qualified bidders must include at least one member licensed to practice law in Kansas with substantial experience in large-scale municipal and state tax-exempt financing and must have served as principal Issuer and Bond Disclosure Counsel for at least three separate issues with an aggregate principal amount exceeding $100 million each within the last three years. The contract period runs from June 1, 2026, through May 31, 2031 (five years), and the Request for Proposal was posted on February 11, 2026, with a closing date of March 24, 2026, at 2:00 PM CST. Vendors must submit questions requesting clarification via email in Microsoft Word format to Procurement Officer Grant L Askew by close of business on Tuesday, March 3rd, 2026, and vendors not initially invited to participate must notify the Procurement Officer of their intent to bid at least 24 hours prior to the closing date and time.

Compensation is structured on a tiered fee basis calculated per $1,000 of bonds issued, with rates varying by principal amount in four tiers: the first $50 million, the next $50 million, the next $150 million, and any remaining balance above $250 million. Reimbursable expenses include photocopying, express mail, long-distance telephone calls, travel expenses at state reimbursement rates, and Attorney General's approval costs, while non-transaction services are billed on an all-inclusive hourly rate basis subject to prior authorization and fee estimate approval by the Secretary. If a financing does not close, the State will not pay counsel fees but will reimburse authorized and reasonable expenses. Bidders may claim eligibility for State bidder preference programs, including the Certified Business Bidder Preference Category or the Disabled Veteran Owned Business Category, if applicable. All bidders must obtain a current Tax Clearance Certificate from the Kansas Department of Revenue prior to submission, submit supporting documentation including completed Boycott of Israel, Sexual Harassment, and Immigration Reform and Control forms, accept the State of Kansas terms and conditions, agree to electronic funds transfer (EFT) payment, and certify compliance with the Immigration Reform and Control Act of 1986. The Procurement Negotiation Committee will make the award and may request selected bidders to appear for negotiations and submit revised proposals.