RFQ 2025-Q04 Bond Underwriting Services - General Obligation Bonds

Hidalgo County is seeking to establish a pre-qualified pool of investment banking firms to provide bond underwriting services for General Obligation Bonds through Request for Qualifications (RFQ) 2025-Q04. The procurement aims to select firms capable of providing comprehensive underwriting services for county bond issuances, excluding public improvement district revenue bonds. Interested firms must submit detailed proposals demonstrating their municipal sales capabilities, capital positions, and specific experience with Texas county bond underwriting from January 1, 2021, through December 31, 2023. The evaluation criteria will focus on three key areas: Experience of the Company (45 points), Capacity to Perform (45 points), and Disciplinary History (10 points). Proposals are due on December 20, 2024, at 10:00 a.m. CT, with questions from potential bidders required to be submitted by December 9, 2024. Firms must provide a Standing Letter from the Attorney General's Office, comprehensive firm identification documentation, and detailed responses to nine specific underwriting questionnaire items, including transaction history, creative financing examples, and references from Texas clients.

The RFQ demonstrates a commitment to inclusivity by emphasizing historically underutilized businesses (HUBs) and requiring extensive federal compliance documentation. Firms must verify they are not debarred or suspended through SAM.gov and maintain active registration status. The current pre-qualified pool includes 20 financial institutions, ranging from global investment banks like Citigroup Global Markets, JP Morgan, and Morgan Stanley to regional institutions such as Frost Bank, UMB Bank, and specialized municipal finance firms like Estrada Hinojosa & Company and Siebert Williams & Shank Co., LLC. While no specific contract values are predetermined, the county reserves the right to remove firms from the pool at any time and may market future financings through competitive sale. Firms must maintain specific insurance requirements, including $1 million in automobile liability and $2 million in commercial general liability coverage. The initial contract term begins in January 2025, with potential for ongoing engagement through individual Bond Purchase Agreements subject to Commissioners Court approval.