Active SLED Opportunity · CALIFORNIA · CITY OF CHULA VISTA
AI Summary
City of Chula Vista seeks to prequalify firms for municipal underwriting services for lease revenue bonds. Services include transaction planning, document review, investor outreach, marketing, sale, and post-sale support. Only prequalified firms may submit SOQs for future projects.
City of Chula Vista (“City”) is seeking to prequalify firms to submit SOQs for municipal underwriting services (the “Project”). Only respondents that have been prequalified by the City in response to this Request for Qualifications (“RFQ”) will be eligible to submit SOQs in response to the City’s subsequent Request for SOQs (“RFP”) for future Projects.Respondents to this RFQ shall submit a fully completed and sealed Statement of Qualifications (“SOQ”), using the City’s standard prequalification submittal template for professional services. Pre-Bid Meeting Information: No Online Q&A: Yes Location Information: Department: Purchasing Address: 276 Fourth AvenueChula Vista, California91910 County: San Diego Other Details: Scope of Work (SOW) for Underwriting ServicesThe selected underwriter(s) will assist the City in planning, structuring, marketing, and executing future debt issuances. The scope of services includes, but is not limited to, the following:A. Transaction Planning and Advisory Support• Provide ongoing information regarding market conditions, investor demand, and transaction timing considerations.• Advise the City on the optimal timing, sizing, and structure of each financing.• Identify, evaluate, and explain the benefits and risks of alternative financing structures.• Assist in assessing the benefits of credit enhancement, reserve fund strategies, and other structural features.• Provide insight into investor preferences and credit considerations relevant to the City’s financing types.B. Document Review and Due Diligence• Review and comment on all financing documents, including preliminary and final official statements, resolutions, indentures/trust agreements, escrow agreements, and related materials.• Participate in due diligence calls and meetings with the financing team.• Assist in preparing disclosure materials and ensuring compliance with applicable federal securities laws.C. Rating Agency and Investor Outreach• Assist in preparing materials and participating in presentations to rating agencies, investors, the City Council, and other stakeholders.• Provide analysis and recommendations to support the City in achieving the strongest possible credit profile.D. Structuring, Marketing, and Sale• Work with the financing team to develop and execute a financing strategy that reflects legal requirements, existing structural parameters, and current market conditions.• Develop a marketing plan designed to achieve the most favorable terms for the bonds.• Structure, schedule, and lead the marketing and sale of the bonds.• Market the bonds in a manner designed to achieve the lowest possible borrowing cost.• Underwrite the bonds at appropriate market yields.E. Closing and Post Sale Support• Coordinate with the financing team to complete all closing requirements and ensure timely delivery of funds.• Provide post pricing analysis, including order flow, investor participation, and pricing relative to benchmarks.• Perform other customary underwriting duties as requested by the City.F. LRB/COP Specific Requirements• Provide analysis of General Fund credit considerations, including budgetary trends, reserves, and long term liabilities.• Assist in evaluating lease leaseback structures, essentiality considerations, and abatement risk.• Provide insight into investor preferences for LRB/COP credits and strategies to broaden investor participation.The above list is not meant to constitute an exhaustive list of duties. A firm selected may be called upon to provide other services not identified here in connection with a particular transaction.In addition, the City expects the firm, as part of their responsibilities to investors under the Federal Securities Laws, to conduct such review as is necessary to attain a reasonable basis for belief in the accuracy and completeness of the key representations in the Official Statement.
SLED stands for State, Local, and Education. These are solicitations issued by state governments, counties, cities, school districts, utilities, and higher education institutions — as opposed to federal agencies.
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