SLED Opportunity · KANSAS · CITY OF LAWRENCE
AI Summary
The City of Lawrence, Kansas seeks proposals for Municipal Advisory and Investment Advisory services including bond market evaluation, debt management, investment strategy, and fund management. Proposals may be for one or both service categories. The contract will be awarded based on responsiveness and evaluation criteria.
The City is seeking the services of a qualified Municipal Advisor to provide municipal advisory services including but not limited to evaluating bond markets, debt management, maintaining credit ratings, modeling funding for large construction projects, long-term strategic financial planning, and managing bond issuance for the City. The City is also seeking an Investment Manager that will provide investment management services for its funds. Services will include analyzing and advising the City Manager, Finance Director, and/ or the City Commission regarding investment strategy, reallocation of assets, investment performance, customizing benchmarks to assess fund performance, establishing strategic asset allocation, developing investment policies, and adherence to Kansas Statutes on investment of public funds. Respondents may submit proposals for Municipal Advisory services, Investment Advisory services, or for both service categories.
Selection Process
The contract shall be awarded in whole or in part to the proposer who made the most responsive and responsible offer or to the proposer whose proposal is determined to be the most advantageous to the City taking into consideration all the evaluation factors set forth in this document. No other factors or criteria shall be used in the evaluation.
Oral interviews may be arranged at the discretion of the evaluation team to assist in making the final selection.
If negotiations with the most qualified proposer are unsuccessful for any reason, the City will terminate negotiations formally and in writing with such firm and proceed to negotiate with the next most qualified firm until an agreement is reached.
Section 1. The City of Lawrence expects to have under consideration from time to time the authorization and issuance of indebtedness in amounts and forms which cannot presently be determined and, in connection with the authorization, sale, issuance and delivery of such indebtedness, the City desires to retain a Financial Advisor.
Section 2. The City desires to obtain the professional services of Advisor to advise the City regarding the execution, issuance and sale of certain evidences of indebtedness or debt obligations that may be authorized and issued or otherwise created or assumed by the City (hereinafter referred to collectively as the "Issuer Obligations") from time to time during the period in which this Contract shall be effective.
Section 3. Advisor represents and warrants to City that Advisor has the professional licenses, certificates, knowledge, expertise and experience to provide the services set forth in this Contract. Advisor is willing to provide its professional services and facilities as Financial Advisor in connection with all programs of financing as may be considered and authorized by City during the period in which this Contract shall be effective.
Section 4. The City desires to obtain the professional services of Advisor to advise the City regarding the investment of City financial resources including but not limited to portfolio management, safety and security of principal investment, appropriate liquidity of funds, improvement of investment capabilities, operational efficiency and information regarding the portfolio and maximize incremental returns on idle balances from time to time during the period in which this Contract shall be effective.
Please use the See What Changed link to view all the changes made by this addendum.
Please use the See What Changed link to view all the changes made by this addendum.
The demonstrated competence, ability, capacity and skill of the project team to perform the contract or provide the services;
The price which the firm proposes to charge, including whether the price is fair, reasonable and competitive.
The price which the firm proposes to charge, including whether the price is fair, reasonable and competitive.
Upload your cost proposal here.
The cost proposal must be submitted separately. Failing to separate cost from the rest of the proposal documents could result in the submittal not being considered.
Provide a cover letter indicating your firm’s understanding of the requirements relating to this proposal. The letter must be brief and formal from the proposer that provides information regarding the firm’s interest in and ability to perform the requirements of this RFP. A person who is authorized by the organization to enter into an agreement with the City of Lawrence will sign the letter.
Please include all contact information.
Bidder submits this proposal in accordance with the terms, conditions, and requirements stated herein. The Bidder hereby certifies it does not have any substantial conflict of interest sufficient to influence the bidding process on this proposal. A conflict of substantial interest is one which a reasonable person would think would compromise the open competitive bid process.
Bidder or any person associated with the Bidder in the capacity of owner, partner, director, office, principal, manager, auditor, manager or any position involving the administration of federal, state or local funds:
Are not currently suspended, debarred, voluntarily excluded or disqualified from bidding by any federal, state or local agency;
Have not been suspended, debarred, voluntarily excluded or disqualified from bidding by any federal, state or local agency within the past three years;
Do not have a proposed debarment pending;
Within the past three years have not been convicted or had a criminal or civil judgement rendered against them by a court of competent jurisdiction in any matter involving fraud, anti-trust violations, theft, official misconduct, or other offenses indicating a lack of business integrity or business honesty; and
Are not currently indicted or otherwise criminally or civilly charged by federal, state or local government with fraud, anti-trust violations, theft, official misconduct, or other offenses indicating
a lack of business integrity or business honesty; and
Have not had one or more federal, state or local government contracts terminated for cause or default within the past three years.
A detailed response for any item in which the vendor has a positive answer must be included in “Exceptions to the Bid, if any” and may be marked confidential.
Bidder certifies the above information is true and correct to the best of their knowledge. They also certify they hold authority to contract with the City of Lawrence Kansas.
Provide references with contact information from five (5) municipalities for which your company has provided services.
Provide a list of 5 current projects in which your company is involved. Please describe the services provided.
Disclose and describe all sources of income received in connection with investment advisory services, either direct or indirect, including what third parties will you receive compensation from, including, but limited to commissions, 12(b)(1)fees, referral fees, etc.
Is your business registered to do business in the State of Kansas? This process allows companies formed in other states to legally transact business in the State of Kansas.
If you are not currently registered, please see https://sos.ks.gov/forms/business_services/FA.pdf for more information.
The Business Entity ID is NOT the same as a TIN, FEIN or SSN.
Enter your Kansas Business Entity Number here.
Upload a current copy of your W-9 here.
Was the length of the initial contract term? State number of years both in numerical and written or 'until completion'
Will there be a Pre-Bid Meeting?
Do you want to use OpenGov's Electronic Pricing Table or have the vendors upload a Cost Proposal sheet?
What are you purchasing?
Q (No subject): Would the City consider moving work related to the debt management policy and the special assessment policy to Part I so this work can be priced with other Financial Planning services?
A: Yes, the City would be willing to consider moving the debt management policy and special assessment policy work from their current placement into Part I of the scope. We are open to discussing this adjustment during the contract award process.
Q (No subject): Would the City consider moving work related to economic development to a new Part IV so it can be priced separately?
A: The City would be willing to consider moving certain economic development related work into a new Part IV for separate pricing; however, this would apply only to project‑specific analysis performed in response to developer applications or requests. General advisory services and routine counsel related to economic development strategy, policy, or ongoing discussions would remain within the existing monthly scope.
Q (No subject): Would the City consider moving work related to continuing disclosure to a new Part V so it can be priced separately?
A: No, continuing disclosure will remain in the original scope listing.
Q (No subject): Given the value of continuity to the City and the investment necessary to respond to the RFP, would the City consider a multi-year award, or a one-year award with multiple one-year extensions at the discretion of the City?
A: Yes
Q (No subject): Would the City consider revising the Cost Proposal section of the RFP to allow separate pricing approaches (either retainer or per transaction) for each of the following: Financial Planning, Debt Management, Economic Development, Continuing Disclosure, and Investment Management?
A: The City would be willing to consider moving certain economic development related work into a new Part IV for separate pricing; however, this would apply only to project‑specific analysis performed in response to developer applications or requests. The remaining scopes and routine counsel related to the items noted in the question would remain within the existing monthly scope.
Q (No subject): Part II, Debt Management, #2 references printing of the preliminary official statement. Is electronic distribution of the POS acceptable?
A: Yes
Q (No subject): Was Part II, Debt Management, #7 included accidentally? Does the City anticipate receiving good faith checks?
A: The reference to "checks" in Part II, Debt Management, #7 was not included accidentally. The statement was intended to reference wire transfers, not physical checks. The City does not anticipate receiving good faith checks.
Q (No subject): The Expenses section references travel outside of Texas. Is it correct that this reference was intended to be Kansas?
A: Yes
Q (No subject): At the top of page 8 the RFP refers to the potentiality of an election occurring. Does the City anticipate a referendum on any upcoming issues even though the state of Kansas does not require it?
A: The language referencing the possibility of an election was included as standard precautionary language. The City does not anticipate holding any voluntary referendums on upcoming issues at this time.
Q (No subject): What is the current size and structure of the City's investment portfolio?
A: Our portfolio reporting can be found on our website: https://lawrenceks.gov/finance/Investments/
Q (No subject): Our legal department informed us that we have a small but workable issue with regard to your requirement to provide SAM.gov registration information. Our firm qualifies for an exemption from SAM.gov registration for the following reasons. SAM.gov registration is only required when: • The service provider received 80% or more of its annual gross revenue from federal funds in the preceding fiscal year. Our firm did not receive 80% or more of its annual gross revenue from federal funds in the preceding fiscal year. • In the preceding fiscal year, the service provider received $25 million in gross revenue from federal funds. Our firm did not receive $25 million in gross revenue from federal funds in the preceding fiscal year. Other clients have concurred in this assessment. Given this information, would you be able to confirm that we will not be required to obtain a SAM.gov registration for this engagement?
A: Sam.gov registration is not required since only local municipal funds are being used.
Q (No subject): Who is the custodian of your securities?
A: Charles Schwab
Q (No subject): Do you receive any monthly reports (like a custodial statement) in addition to the monthly report you receive from your current investment advisor? If so, could we see a current statement?
A: Our investment reports can be found on our website located here: https://lawrenceks.gov/finance/Investments/
Q (No subject): Is the one-year contract life renewable or do you plan on bidding out every year?
A: The one-year contract is intended to be renewable, and we do not anticipate rebidding the contract on an annual basis.
Q (No subject): Does the City want discretionary or non-discretionary asset management for the various portfolios?
A: Non-discretionary
Q (No subject): Can the City provide us with a copy of its investment policy and tell us if the policy has any investment concentration limits?
A: Our investment policy can be found on our website here: https://assets.lawrenceks.gov/finance/Policies/Investment-Policy.pdf
Q (No subject): What type of cash flow modeling and reporting is currently being generated by the City and/or its financial services providers?
A: Our investment reports as prepared by our financial advisor can be found on our website located here: https://lawrenceks.gov/finance/Investments/
Q (No subject): What benchmark is the City currently using for investments with maturities longer than one year?
A: Due to the current duration of the portfolio, we are using the 90 Day Treasury as our primary benchmark
Q (No subject): Beyond the services described in the RFP, are there any strategic financial priorities or challenges the City would like the selected advisor to help address over the next several years?
A: The City is particularly interested in strategic advisory support related to economic development and long-term growth. This includes evaluating and structuring financing tools to support business expansion, redevelopment, and public-private partnerships. Additionally, the City seeks guidance on the financial planning and implications associated with the annexation of new property, including infrastructure funding, service delivery impacts, and long-term fiscal sustainability.
Q (No subject): Will the City retain separate consultants for economic development modeling or feasibility studies?
A: The City does not currently retain separate consultants for economic development modeling or feasibility studies. However, the City may choose to do so in the future as necessary for specialized projects or during periods of high economic development activity.
Q (No subject): The RFP includes both municipal advisory and investment advisory services. Is the City intending to award these services to one firm or potentially to separate firms?
A: The City reserves the right to award municipal advisory and investment advisory services to a single firm or to separate firms, based on what is determined to be in the City’s best interest following evaluation of the proposals.
Q (No subject): The Evaluation of Submittals includes criteria to evaluate the approach and understanding of scope for Municipal Advisor and investment strategy and philosophy, performance and risk management, and reporting and compliance for Investment Management, but the bid submission requirements do not include a section to respond to these topics. Is there an additional section available for respondents to include information about how they will meet the Scope of Work?
A: Yes, a section has been added to provide for a space for responses.
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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