FINANCIAL ADVISOR REQUEST FOR PROPOSALS

To provide advice and professional recommendations to the City of Los Fresnos for any capital financing or refinancing as may be necessary, including, but not limited to, the Texas Water Development Board’s Drinking Water State Revolving Fund (DWSRF) and Clean Water State Revolving Fund (CWSRF).

A. INTENT OF PROPOSAL

The City of Los Fresnos is soliciting Request for Proposals (RFP) and Statement of Qualifications from interested qualified professionals to provide: strategic financial planning; analysis of market conditions; recommended investments of bond proceeds; and provide recommendations to the City for any financing or capital projects or refinancing of current debt.  The City reserves the right to accept or reject any or all proposals for any reason it finds to be in the best interest of the City of Los Fresnos.

This contract is subject to the Environmental Protection Agency's (EPA) Disadvantaged Business Enterprise (DBE) Program, which includes EPA-approved fair share goals toward procurement of Minority and Women-owned Business Enterprise (M/WBE) businesses. EPA rules require that applicants and prime contractors make a good faith effort to award a fair share of contracts, subcontracts, and procurements to M/WBEs through demonstration of the six affirmative steps. For more details of the DBE Program and the current, applicable fair share goals, please visit www.twdb.texas.gov/dbe.

B. SCOPE OF SERVICES

The services to be provided by the Financial Advisor shall include, but are not limited to, the following:

• Direction and coordination of all programs of financing
• Advise the City of current bond market conditions
• Recommend method of sale of debt instruments
• Advise publications of forthcoming sales
• Arrange for repots of independent consultants
• Recommend as to the advisability of obtaining credit ratings and coordinate preparation and submission of information to rating agency
• Assist staff at advertised sale with receipt, tabulation, and comparison of bids and advise as to best bid
• Coordinate efforts for delivery of debt instruments and preparation and verification of closing figures
• Maintain liaison with Bond Counsel in preparation of all legal documents
• Counsel in selection of paying agent/registrar
• Print all debt instruments
• Deliver schedule of annual debt requirements on debt instruments
• Attend meetings as requested
• Advise of changes in Federal and State laws and regulations
• Advise on investment of funds as requested
• Advise and assist in exercising any call and/or refunding
• Advise and assist in the development of long-range financing plan
• Provide all financing planning services as requested
• Testify in litigation as requested
• Make recommendation on matters of credit enhancement

 C.  STATEMENT OF QUALIFICATIONS

The Proposer shall provide a description of the history and background of the firm, identification of the services currently being provided to municipalities in Texas and other information relevant to the provision of Financial Advisory services.  The Proposer shall be a Registered Broker/Dealer with the Securities Exchange Commission (SEC) and a member of the National Association of Securities Dealers (NASD).  The following information shall be included in your proposal:

1. General information about the firm.
   • Name, address and phone number of the firm.
   • History of the firm
   • List name and titles of officers of the firm who are directly responsible for financial advisory services.
   • Information pertaining to the firm's compliance with licensing and other requirements of the Securities Exchange Commission, the National Association of Securities Dealers and the Municipal Securities Rule Making Board.
2. ​​​​​​​​​​​​​​References.
   • List of three (3) references to those listed in # 1 above.
3. Identify personnel to be assigned responsibility for administering the account (provide resume and location for the individual representatives that the firm will assign to the account).
4. List the experience of the individuals assigned to the account with the Texas Water Development Board’s Drinking Water State Revolving Fund (DWSRF) and Clean Water State Revolving Fund (CWSRF) and placement of debt instruments with the Board.  Please list the work performed, including the dollar amount of the debt issue or other financing. Please include the names, addresses, and phone numbers of contact persons.
5. Additional services - describe any other service or experiences of the firm which you deem beneficial in acting as Financial Advisor to the City.
6. Fees, expenses and compensation.
   • Provide the firm's Financial Advisory fee schedule for professional services and describe the basis on which the fees are calculated.  Details of any alternate method of compensation such as hourly fees or annual retainers your firm would consider.
   • List all expenses pertaining to an issue that will be reimbursable by the City.  Example:  bond printing, bond counsel. official statement printing, bond election expenses, bond ratings and related expenses, etc.
7. Attached a copy of financial advisory services contract proposed by your firm.

D. RECEIPT OF PROPOSALS

If your firm is interested in being considered as Financial Advisor for the City of Los Fresnos, proposals must be received no later than 4:00 p.m. on October 19, 2022, at the office of the City Manager, 520 E. Ocean Blvd., City of Los Fresnos Texas 78566.  Four (4) copies of the proposal must be sealed and clearly marked on the face of the shipping material "FINANCIAL ADVISOR" RFP.

SELECTION CRITERIA

SUMMARY

The following criteria will be used as a basis for the selection of the Financial Advisor:

EXPERIENCE OF PERSONNEL                                                                             35 POINTS

To assess the background and experience of the personnel in working with South Texas Public Finance Entities.

TEAM MEMBERS                                                                                                    30 POINTS

To identify the personnel, the firm proposes to commit on a day-to-day- basis and evaluate the specific qualifications of these individuals.

REFERENCES                                                                                                          20 POINTS

To demonstrate client satisfaction and the candidate's familiarity with municipal issues.

FINANCIAL CONDITION                                                                                       15 POINTS

To demonstrate the firm's financial condition.

TOTAL:                                                                                                                      100 POINTS