RFQ-603530-19/BJC will provide for qualified investment banking firms (Underwriters) to provide underwriter services for the County’s negotiated sale of municipal bonds and other financing transactions (“Obligations”) on a non-exclusive and as needed basis. The County’s goal in a negotiated bond sale is to select Underwriters that have the expertise that will result in a successful sale and obtain the lowest interest cost to the County. The Board usually selects three (3) to five (5) Firms to provide Investment Banking/Bond Underwriter Services on a case by case basis.
This Request for Qualifications (RFQ) was publicly advertised. The Evaluation Committee consisted of Joe Abel, Interim Deputy County Manager, Kent Cichon, Financial (Business) Administrator, and Timothy Jecks, Budget Division Manager. The qualification submittals were evaluated in consultation with Gary Akers, Financial Advisor to Seminole County. Consideration was given to the following:
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Experience & Qualifications of the Firm
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Marketing, Distribution, & Capacity of the Firm
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Experience & Qualifications of the Key Personnel
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References
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Litigation/Conflict of Interest
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Location of Firm
The RFQ's proposal responses are not due until June 18th (after agenda print) and will be distributed by June 20th. The award will remain in effect for a period of three (3) years. At the option of the parties, this Agreement may be renewed for three (3) additional one (1) year term.
The Evaluation Committee comments are included in the supporting documentation. Per the County's Administrative Code Section 22.5 (F) - Financial Policies - Debt, it is the County's policy to use competitive bidding, whenever possible, for all debt issued by the County to ensure the most efficient methods of financing are utilized by the County resulting in the lowest total cost of borrowing. A negotiated sale process for debt can be utilized for those conditions cited in Section 22.5 (F) Subsection (2)(c).