TRANSMITTAL LETTER FOR BOARD MEETING OF DECEMBER 19, 2019
COMMITTEE ON PROCUREMENT
Mr. Brian A. Perkovich, Executive Director
Title
Authority to Advertise Contract 20-RFP-04 Professional Underwriting Services for District Bond Sales for a five-year period.
Body
Dear Sir:
Request for Proposal (“RFP”) 20-RFP-04 documents have been prepared for Professional Underwriting Services for District Bond Sales, at the request of the Treasury Department. The purpose of this RFP is to identify qualified underwriting firms as eligible to provide underwriting services for the District’s bond financing programs for the next five years.
The District issues bonds to finance construction projects identified in the District’s Capital Improvements Program and to pay the costs of issuance of the bonds. A list of eligible underwriting firms will be created through this RFP; Senior Managing Underwriters and Co-Managing Underwriters will be selected from this list on a sale-by-sale basis. Firms will be recommended from this list to provide services for any bond sales that occur during this period based upon its ranking on the list, the specific requirements of the bond sale, and the District’s requirements for Minority-/Women-/Veteran-Owned Business Enterprise participation goals. The Board of Commissioners will be asked to approve the appointment of all firms for each bond sale. The District may extend the life of the eligible list for a period of up to one (1) year at the conclusion of the five-year period with Board approval.
The cost of underwriting services is determined based upon each bond sale amount and is paid directly from bond sale proceeds; therefore, no cost estimate is available, and no purchase order will be executed for these underwriting services.
A bid deposit is not required for this RFP.
The District will use its best effort to award underwriting services related to its bond sales to a minimum of 30% Minority-owned Business Enterprises (MBE) and/or Women-owned Business Enterprises (WBE), and 3% Veteran-owned Business Enterprises (VBE). Appendix A does not apply as there are no subcontracting opportunities. Work is awarded directly by the District to each underwriting firm appointed to participate in the bond sale.
The tentative schedule for this contract is as follows:
Advertise January 8, 2020
Proposals Received February 21, 2020
Eligible List Published June 4, 2020
In view of the foregoing, it is recommended that the Director of Procurement and Materials Management be authorized to advertise Contract 20-RFP-04.
Requested, Mary Ann Boyle, Treasurer, MAB:WS:st
Recommended, Darlene A LoCascio, Director of Procurement and Materials Management
Respectfully Submitted, Barbara J. McGowan, Chairman Committee on Procurement
Disposition of this agenda item will be documented in the Official Regular Board Meeting Minutes of the Board of Commissioners for December 19, 2019