Bond Underwriter Services

RFQ
NOTICE
Kirkwood School District
Request for Qualifications
Bond Underwriter Services
Issue Date: June, 2026
RETURN RESPONSE NO LATER THAN:
Monday, July 20, 2026 @ 12:00 PM, CDT
RETURN RESPONSE AND ADDENDA TO:
Kirkwood School District
ATTN: Mr. Scott Cook
Assistant Superintendent of Finance and Operations
1099 Milwaukee Street, Suite 260
Kirkwood, MO 63122
TABLE OF CONTENTS
Certification Form Part II: Instructions to Respondents
Qualifications
Part I: Introduction and Process Submitting a Response
1) Purpose Felony Conviction Notification
2) District Overview and Debt Information Federal Work Authorization Program
3) Scope of Services (E-Verify) Addendum
4) Timeline for Process Federal work Authorization Program
5) Selection Criteria Affidavit
6) Review Process
Part III: General Conditions-Responses and
Subsequent Contracts
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School District Request for
Qualifications Bond Underwriter
Services
CERTIFICATION FORM
The Kirkwood School District will accept separate sealed proposals for the services of a Bond
Underwriter as described in the attached request. Qualified organizations (Respondents) are
required to submit four (4) physical copies, and one (1) digital copy of a proposal as described
herein.
PROPOSALS SHALL BE LABELED AND ADDRESSED AS FOLLOWS:
SEALED PROPOSAL-BOND UNDERWRITER
Kirkwood School District
ATTN: Mr. Scott Cook
Assistant Superintendent of Finance and Operations
1099 Milwaukee Street, Suite 260
Kirkwood, MO 63122
PROPOSALS MUST BE RECEIVED BY:
Monday, July 20, 2026 @ 12:00 PM, CDT
The Respondent hereby declares understanding, agreement and certification of compliance to
provide the items and/or services, in accordance with all terms and conditions, requirements and
specifications of the original Request for Qualifications (RFQ) and as modified by any addenda
thereto. Respondent is required to complete, sign and return this form with the proposal.
SIGNATURE REQUIRED
Authorized Signature Date
Printed Name Title
Company Name
Mailing Address
City, State, Zip
Mobile Phone #: E-Mail Address
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PART I: INTRODUCTION AND PROCESS
1. PURPOSE
The Kirkwood School District (District) is soliciting proposals for a partner in performing Bond
Underwriting Services. Specifications, terms, and conditions are included within this document.
Upon an award, a contract for three (3) years will be issued and the District may choose to renew
the agreement based upon satisfactory performance. Services will include but not be limited to
structuring and planning, market analysis and pricing, documentation and compliance, investor
relations and marketing, market conditions and timing, capital commitment and bond sale, and post
issuance support. Companies interested in performing Bond Underwriter services for the District
are invited to submit proposals. The timeline supports a recommendation to the Board of Education
on August 11, 2026.
2. DISTRICT OVERVIEW AND DEBT INFORMATION
The Kirkwood School District is an award-winning district with a bond rating of AA+ by Moody's
Investor Services. The Kirkwood School District, one of the oldest in St. Louis County, serves students
in Kirkwood, Des Peres, Glendale, Warson Woods, Frontenac, Huntleigh, Town and Country, Oakland,
and a small part of Sunset Hills, Missouri. The District consists of 9 student campuses (Kirkwood High
School, 2 Middle Schools, 5 Elementary Schools, and an Early Childhood Center).
After a period of enrollment growth between 2014 and 2023, the District has transitioned into a period
of contraction, experiencing a 4.49% decline over the last three years to a current level of 5,612. This
trend is expected to continue into the 2026-27 school year, with a projected decrease of 283 students
bringing total enrollment to 5,329.
However, the District continues to experience local Assessed Valuation Growth as seen in the table
below:
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The current outstanding general obligation debt of the District is $51,700,500 and is serviced by a $0.27
debt service levy. The amortization schedule is included below:
Due to growth in Assessed Valuation, the District has the opportunity to evaluate the status of its debt
service levy and is seeking a partner to serve as a consultant to determine the best path forward, as well
as planning for and managing a bond issue in the near future.
3. SCOPE OF SERVICES
The selected firm will provide the following services to the District including, but not limited to:
Structuring and Planning:
A. Propose structuring alternatives and innovations that minimize the cost of capital while
maintaining future financing flexibility.
B. Prepare detailed schedules based on alternative structures to provide the District with
various financing options.
C. Adhere to the District's financing schedules and calendar of events to ensure timely
execution of all tasks.
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Market Analysis and Pricing:
D. Prepare pricing memos, discuss current marketing conditions, compile market
comparables, and prepare preliminary pricing scales.
E. If applicable, establish syndicate rules, syndicate price views, and marketing
compensation strategies.
F. Provide supporting documentation to the District regarding the reasonableness of rates
and comparable issues in the market concurrent with the Bonds.
Documentation and Compliance:
G. Assist in the drafting and review of all relevant documents required for the bond issuance
process.
H. Ensure all documentation complies with federal, state, and local laws and regulations.
Investor Relations and Marketing:
I. Identify the market and potential investors most likely to purchase the securities at rates
most favorable to the District.
J. Lead the marketing and distribution efforts to ensure broad and effective dissemination of
the bonds.
K. Conduct bond sale conference calls to engage with potential investors and stakeholders.
Market Conditions and Timing:
L. Continuously assess market conditions and investor demand to determine their impact on
the economics and optimal timing of the District's financing.
M. Provide regular updates and recommendations to the District on the best times to enter
the market.
Capital Commitment and Bond Sale:
N. Commit capital as necessary to maintain the lowest possible interest rates for the District.
O. Execute a bond purchase agreement ensuring all terms are favorable and in the best
interest of the District.
P. Conduct all activities related to the marketing and underwriting of the bonds, performing
functions customary to the position of senior managing underwriter.
Q. Capital Commitment (if necessary): Strategically commit capital to stabilize pricing and
ensure the lowest possible interest rates for the District.
Post-Issuance Support:
R. Provide a post-pricing analysis, including details on pricing, orders, allotments, and
designations.
S. Assist in the coordination of services provided by other agents in the sale process.
T. Support the District in the closing and settlement process, ensuring all steps are
completed accurately and efficiently.
U. Offer any additional assistance necessary to complete the transaction and ensure ongoing
compliance and reporting.
Additional Services:
V. Contribute opinions and expertise on general transaction structure and credit-related
matters.
W. Assist the District in any other steps necessary to complete the transaction, providing
continuous support and expert advice throughout the bond issuance process.
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X. Be available to assist the District with any unforeseen challenges or steps needed to
complete a successful bond issuance.
Y. Offer valuable insights throughout the entire process, extending beyond just structuring
and selling the bonds.
4. TIMELINE FOR PROCESS
The timeline listed below is the District's estimation of time required to complete the
process. All efforts shall be made to abide by this schedule; however, changes may occur
if necessary.
Request for Qualifications Issued June 23, 2026
Bidder Questions due to District By July 1, 2026
Response to Questions July 9, 2026
Proposals Due July 20, 2026
Interviews, if applicable July 30 & August 3, 2026
Recommendation to Board August 11, 2026
Notice to Proceed August 12, 2026
5. SELECTION CRITERIA
All proposals will be evaluated using the following criteria:
1) The company's prior experience in providing similar services to Missouri school districts
including the total districts served, a listing of Missouri school districts with 4,000
students or greater.
2) Districts currently being represented as manager of underwriting.
3) Key personnel who will be assigned to the District, qualifications and experience.
4) Project approach, identification of unique opportunities and issues, and process for
communication with District staff.
6. REVIEW PROCESS
Following the submittal deadline, the selection team shall evaluate the proposals. Firms will be
evaluated according to their response to the Request for Qualifications. The team will determine
if any company(s) may be invited to provide a presentation to the team.
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PART II: INSTRUCTIONS TO RESPONDENTS
1. QUALIFICATIONS
In addition to the signed Certification Form, the following information shall be included in a
proposal:
A. Basic Company Information: An executive summary of company profile:
1) Name of company(s)
2) Contact person (phone, e-mail, etc.)
3) Direct mailing address
B. Company Experience Profile
The company's prior experience in providing similar services to Missouri school districts and the
districts served.
1) A listing of Missouri school districts 4,000 students or greater.
2) Current districts being represented for underwriter services.
C. Company Personnel Profile
Manager(s) of Underwriting Services to be assigned to District
1) Credentials
2) Prior experience in providing similar services to Missouri school districts including the
districts served, a listing of Missouri school districts 4,000 students or greater.
3) Current districts being represented for underwriter services as managing director.
Support personnel overview
D. District References - List district, city, state, person's name, position, and phone number
E. Assessment of District Debt
Describe the project approach, identification of unique opportunities and issues, and process for
communication with District staff.
H. Include a brief rationale describing why your company should be selected by the District.
I. Specify and be prepared to show proof of the level and type(s) of insurance carried to cover
errors and omissions, improper judgment, or negligence.
J. Felony Conviction Notification Form
K. Federal Work Authorization Program (E-Verify) Addendum
L. Federal Work Authorization Program Affidavit
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2. SUBMITTING A RESPONSE
The response shall follow the outline above and be concise. Failure to follow instructions may
nullify the response from consideration. To be considered for selection, respondents should clearly
limit responses to the specific criteria in the order listed. No joint responses will be accepted by
the District.
The deadline for submitting the response shall be in accordance with the notice. Proposals received
after this date and time will not be considered. Telephone, facsimile, electronic or electronic
modification of proposals will not be considered. The District is not responsible for lateness or
non-delivery by the United States Postal Service or other carrier to the District. The time and date
recorded by the District shall be the official time of receipt.
Questions regarding this RFQ should be directed to Mr. Scott Cook, Asst. Superintendent of
Finance & Operations. Please email Mr. Cook at scott.cook@kirkwoodschools.org with questions
by July 1, 2026. Communication with Board of Education members and/or other District staff to
influence the outcome of the RFQ selection process is prohibited and will result in rejection of the
company's proposal.
Page 8

FELONY CONVICTION NOTIFICATION
The person or business entity that enters into an agreement with this school district must give
advance notice to the District if the person or an owner or operator of the business entity has been
convicted of a felony. The notice must include a general description of the conduct resulting in the
conviction of a felony.
The district may terminate this agreement with a person or business entity if the District determines
that the person or business entity failed to give notice by the next preceding subsection, or
misrepresented the conduct resulting in the conviction. The District will compensate the person or
business entity for services performed before the termination of the agreement".
By submitting this offer and signing this certificate, this bidder:
Certifies that the owner/operator has not been convicted of a felony, except as indicated on a
separate attachment to this offer, and
Certifies that no employee who will enter school buildings or potentially have contact with
school children has been convicted of any felony or a misdemeanor involving violence or
sexual contact or sexual abuse. It shall be the duty of the vendor to conduct the appropriate
background checks on its employees and the vendor agrees to share this information with the
District upon request.
Vendor Name:
Vendor Address:
Vendor E-mail Address:
Vendor Telephone: Fax Number:
Authorized Company Official's Name:
(Printed)
Signature of Company Official:
Date:
Page 9

FEDERAL WORK AUTHORIZATION PROGRAM ("E-VERIFY") ADDENDUM
Pursuant to Missouri Revised Statute 285.530, all business entities awarded any contract
in excess of five thousand dollars ($5,000) with a Missouri public school district must, as a
condition to the award of any such contract, be enrolled and participate in a federal work
authorization program with respect to the employees working in connection with the contracted
services being provided, or to be provided, to the District (to the extent allowed by E-Verify). In
addition, the business entity must affirm the same through sworn affidavit and provision of
documentation. In addition, the business entity must sign an affidavit that it does not knowingly
employ any person who is an unauthorized alien in connection with the services being provided,
or to be provided, to the District.
Accordingly, your company:
a) Agrees to have an authorized person execute the attached "Federal Work
Authorization Program Affidavit" attached hereto as Exhibit A and deliver the same to the
District prior to or contemporaneously with the execution of its contract with the District;
b) Affirms it is enrolled in the "E-Verify" (formerly known as "Basic Pilot") work
authorization program of the United States, and are participating in E-Verify with respect to your
employees working in connection with the services being provided (to the extent allowed by
E-Verify), or to be provided, by your company to the District;
c) Affirms that it is not knowingly employing any person who is an unauthorized
alien in connection with the services being provided, or to be provided, by your company to the
District;
d) Affirms you will notify the District if you cease participation in E-Verify, or if
there is any action, claim or complaint made against you alleging any violation of Missouri
Revised Statute 285.530, or any regulations issued thereto;
e) Agrees to provide documentation of your participation in E-Verify to the District prior to
or contemporaneously with the execution of its contract with the District (or at any time
thereafter upon request by the District), by providing to the District an E-Verify screen print-out
(or equivalent documentation) confirming your participation in E-Verify;
f) Agrees to comply with any state or federal regulations or rules that may be issued
subsequent to this addendum that relate to Missouri Revised Statute 285.530; and
g) Agrees that any failure by your company to abide by the requirements a) through
f) above will be considered a material breach of your contract with the District.
By: (signature)
Printed Name and Title:
For and on behalf of: (company name)
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