Municipal Advisor

The State of Utah Division of Purchasing is conducting a Request for Statements of Qualifications (RFSQ) to retain a Municipal Advisor firm for a 5-year contract through the State Treasurer's Professional Services unit. The procurement, conducted under Utah Procurement Code 63G-6a Part 15, seeks a qualified firm to provide comprehensive financial advisory services for bond issuances across multiple state agencies, including the Governor's Office of Management and Budget, Department of Facilities Construction and Maintenance, and Legislative Fiscal Analyst's Office. Key deliverables include preparing cash flow analyses, monitoring refunding opportunities, assisting with bond issuances, supporting interactions with credit rating agencies, and providing expert advice on financing techniques. The evaluation will be based on four primary criteria: Firm Safety, Soundness & Regulatory Compliance (20%), Personnel (40%), Firm's Experience (40%), and References (10%), with a total possible score of 1000 points. The solicitation was posted on September 23, 2025, with responses due by October 14, 2025, and vendors are explicitly instructed not to include pricing in their qualifications submission.

The procurement does not specify explicit set-aside designations or restrictions for disadvantaged enterprises. The selected Municipal Advisor will be prohibited from having employees simultaneously serve as advisors to charter schools and must work across various state financing authorities, including the State Bonding Commission, State Building Ownership Authority, and Utah Charter School Finance Authority. While specific budget ranges are not detailed, the procurement process is structured to select the highest-ranked vendor and negotiate fair and reasonable compensation. If the top-ranked vendor cannot agree on contract requirements, the state may proceed with negotiations with the next highest-ranked vendor. The contract will require the selected firm to demonstrate extensive experience in public finance, debt structuring, bond sales, disclosure management, and investor relations, with a focus on understanding Utah's governmental financial landscape. The successful vendor will be required to sign a contract within 90 days of award and may be subject to background checks and additional assessments.