Municipal advisor services for bond financing

The City of Burbank is requesting proposals for municipal advisor services to support bond financing for the New Central Library and Civic Center project, with proposals due November 16, 2026 at 4:00 p.m. PT via PlanetBids and written questions due November 2, 2026.

The City is undertaking a $188–$191 million capital project funded through existing cash, State of California Building Forward Grant funds (approximately $20 million with City match), Capital Improvement Plan funds, Library Development Impact Fees, federal appropriations, and approximately $150 million in Lease Revenue Bonds. The selected firm will provide independent financial advice on financing alternatives, debt structuring, market and credit analysis, and management of the financing process from planning through closing, plus three years of post-issuance support. Respondents must demonstrate significant municipal advisory experience with at least three comparable engagements completed within the past five years, including at least two for California public agencies.

The contract term is three years with two optional one-year renewals at the City's discretion, with service commencement anticipated for December 2026 or later. Proposals must include a fixed fee covering all initial bond issuance services and 36 months of post-issuance support, separately proposed hourly rates for additional authorized services, and an optional ongoing advisory retainer proposal. Proposals are limited to 30 single-sided pages in 10-point font or larger and remain valid for 120 days from the due date.

Evaluation weighs experience and past performance at 40 points, project team qualifications at 20 points, technical approach at 20 points, proposed price at 5 points, and optional interviews at 15 points. The evaluation period is scheduled for November 16–20, 2026, with interviews (if conducted) November 23–December 4, 2026 and Notice of Intent to Award targeted for December 7, 2026. The City holds an Aa1 credit rating from Moody's and currently carries no general City debt.