RFP No. 267033 Independent Registered Municipal Advisor

The City of Salem, Oregon is soliciting proposals through RFP No. 267033 for an Independent Registered Municipal Advisor (IRMA) to provide comprehensive municipal advisory services to the City's Finance Department and the Urban Renewal Agency. The scope of services encompasses debt issuance analysis, financing options evaluation, bond structuring and sales process assistance, coordination with bond counsel and underwriters, management of competitive and negotiated sale processes, and ongoing debt compliance and regulatory guidance. Key deliverables include market condition analysis, financing recommendations, bond issuance support, and debt management advisory services for local and regional government financing activities. Proposers must be registered IRMAs with all necessary Oregon licenses, current Municipal Securities Rulemaking Board Rule G37 filings, and documented experience as primary municipal advisor to at least ten local or regional government issuers within the past five years, with lead staff possessing a minimum of five years' experience in Oregon. Evaluation criteria are weighted as follows: cover letter (5 points), organization and qualifications (30 points), fee proposal (30 points), references (25 points), and appendices (10 points). Fee proposals should detail hourly rates by position type with Consumer Price Index-tied cost escalators for Portland-Salem and per-issuance rates for three placement types and sizes ranging from $10 million to $100 million. Proposals must be submitted electronically via Equity Hub's Bid Locker by May 1, 2026, at 4:00 PM local time, with no late submissions accepted. The initial contract term begins July 1, 2026, for one year with nine optional one-year renewals for a potential ten-year total duration.

The RFP does not identify specific set-asides or disadvantaged enterprise restrictions, though all successful proposers must comply with Oregon tax laws, pay equity requirements, workers' compensation obligations, and non-discrimination policies. Proposers must carry $2,000,000 in commercial general liability insurance and $2,000,000 in Errors and Omissions insurance. No incumbent vendor or existing contractor is identified in the procurement documents. The City of Salem maintains an annual budget of $849 million with a $201 million capital improvement budget and holds an Aa2 bond rating from Moody's, providing context for the scale and financial standing of the contracting entity. Specific award values or estimated contract values are not disclosed in the RFP; pricing will be evaluated competitively based on submitted fee proposals and other evaluation criteria.