RFP 20-11 Financial Advisor Services

Agency: City of Evanston
State: Illinois
Type of Government: State & Local
NAICS Category:
  • 541611 - Administrative Management and General Management Consulting Services
Posted Date: Jan 23, 2020
Due Date: Feb 18, 2020
Solicitation No: *RFP-20-11-0-2020/jro
Bid Source: Please Login to View Page
Contact information: Please Login to View Page
Bid Documents: Please Login to View Page
Bid Identifier Status Broadcast Date Date Due Bid Name Addendum
*RFP-20-11-0-2020/jro Active 01/23/2020 02/18/2020 RFP 20-11 Financial Advisor Services

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CITY OF EVANSTON
REQUEST FOR PROPOSAL
NUMBER: 20-11
for
Financial Advisor Services
January 23, 2020
PROPOSAL DEADLINE:
2:00 P.M., February 18, 2020
Room 4200,
Lorraine H. Morton Civic Center,
2100 Ridge Avenue,
Evanston, Illinois 60201
SEALED PROPOSALS TO BE RETURNED TO:
CITY OF EVANSTON
PURCHASING DIVISION, ROOM 4200
LORRAINE H. MORTON CIVIC CENTER
2100 RIDGE AVENUE
EVANSTON, ILLINOIS 60201
PHONE (847)866-2935 * FAX (847)448-8128
1
Revised 10-14 (09-17)
TABLE OF CONTENTS
Notice to Proposers .................................................................................................3
1.0 Introduction......................................................................................................4
2.0 Scope of Services ...........................................................................................4
3.0 Insurance.........................................................................................................6
4.0 Submittal Requirements ..................................................................................7
5.0 Additional Submittal Requirements .................................................................8
6.0 M/W/EBE Goals..............................................................................................8
7.0 Evaluation Criteria ...........................................................................................8
8.0 Selection Process............................................................................................9
9.0 Proposed Schedule .........................................................................................10
10.0 Questions Regarding RFP...............................................................................10
11.0 General Terms and Conditions........................................................................10
Price/Costs Form.......................................................................................................15
Exhibit A Disclosure of Ownership Interests...........................................................16
Exhibit B Additional Information Sheet ...................................................................19
Exhibit C Conflict of Interest Form..........................................................................20
Exhibit D Acknowledgement of Understanding.......................................................21
Exhibit E Anti-Collusion Affidavit and Proposer’s Certification ...............................22
Exhibit F City of Evanston M/W/EBE Policy.......................................................23
Exhibit G M/W/EBE Participation Compliance Form .........................................24
Exhibit H M/W/EBE Participation Waiver Request.............................................25
Exhibit I Professional Services Agreement Acknowledgement...............................26
Exhibit I Professional Services Agreement.............................................................27
Exhibit J BID/Proposal Submittal Label .............................................................39
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Revised 10-14 (09-17)
CITY OF EVANSTON
NOTICE TO PROPOSERS
Sealed proposals will be received by the Purchasing Office in Room 4200, Lorraine H. Morton
Civic Center, 2100 Ridge Avenue, Evanston, Illinois 60201, until 2:00 P.M. local time on
February 18, 2020. Proposals shall cover the following:
Financial Advisor Services
RFP Number: 20-11
The City of Evanston’s Finance Division of the City Manager’s Office is seeking proposals from
experienced firms for Financial Advisor Services.
The above item shall conform to the RFP on file in the Purchasing Office. The document,
including all necessary plans and specifications, will be available in the Purchasing Office
on January 23, 2020. Parties interested in submitting a bid should contact the Purchasing
Office to receive a copy of the bid or see the City’s website at:
www.cityofevanston.org/business/bids-proposals/ or Demandstar at: www.demandstar.com.
The City (the City of Evanston) in accordance with the laws of the State of Illinois, hereby
notifies all firms that it will affirmatively ensure that the contract(s) entered into pursuant to this
notice will be awarded to the successful firm without discrimination on the grounds of race,
color, religion, sex, age, sexual orientation marital status, disability, familial status or national
origin. The City of Evanston reserves the right to reject any or all submittals or to accept the
submittal(s) deemed most advantageous to the City.
The Evanston City Council also reserves the right to award the contract to an Evanston firm if
that firm’s bid is within 5% of the low bid.
Each Proposer shall be required to submit with his/her proposal a Disclosure of Ownership
Interest Statement Form in accordance with Section 1-18-1 et seq. of the City Code. Failure to
submit such information may result in the disqualification of such proposal.
Jillian Ostman
Purchasing Specialist
3
Revised 10-14 (09-17)
CITY OF EVANSTON
Request for Proposal
1.0 INTRODUCTION
The City of Evanston is seeking the services of a Financial Advisor to assist in
general obligation and revenue debt issuances, major capital infrastructure project
analysis, and the development of financing alternatives for these projects. During the
duration of the contract, the City of Evanston anticipates financing $10-20 million per
year for annual capital maintenance and special projects.
The contract term desired is for a period of four (4) years with two (2) additional one
(1) -year options to renew.
Contact with City personnel in connection with this RFP shall not be made other
than as specified in this RFP. Unauthorized contact of any City personnel may be
cause for rejection of a proposal.
Prior to the submittal of a proposal, Proposers are advised to carefully examine
the contract documents
project scope and work tasks to be accomplished
specifications
submittal requirements
insurance requirements and required documentation
Proposers are advised to become thoroughly familiar with all conditions,
instructions and specifications governing this RFP. Proposals shall be made in
accordance with these instructions. Proposals shall be submitted on the forms
provided by the City
The City will not be liable in any way for any costs incurred by respondents in
replying to this Request for Proposal.
2.0 SCOPE OF SERVICES
Expected primary roles of Financial Advisor:
Serve as the City’s consultant on selected debt financing projects associated
with City capital and water utility system projects.
Provide independent financial advice on an as-needed basis and solely serve
the interests of the City.
Manage the debt financing process and negotiate key business points to
accomplish the City’s goals and objectives.
SERVICES TO BE PROVIDED
The City seeks to utilize the best combination of options available to adequately
address the needs of the City. The selected Financial Advisor will be required to
perform the following:
Develop a plan for the City’s annual financing needs with related schedules.
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Revised 10-14 (09-17)
Evaluate legal approaches permitting various financing structures and
methods with emphasis on creativity and innovation, in order to accomplish
the City's objectives. This will be done in conjunction with the City's finance
and legal staff.
Review all legal documents associated with debt financing or other related
matters.
Analyze and report on the advantages and disadvantages of proposed
financing options.
Evaluate the projected cash flow from revenue sources that may constitute
security for any obligation incurred.
Review existing revenue sharing agreements, tax rebate agreements and debt
commitments to determine potential impacts, if any, on proposed financing
and make appropriate recommendations to the City's financing team.
Work with the City's bond counsel and financing team in recommending size,
structure, specific terms and conditions of a debt issue. Present information
and recommend best method of sale as either competitive or negotiated.
Assist the City in selection of formation of financing team, including preparing
a list of services required of underwriter, trustee, verification agent, and other
professionals as needed for a debt issuance.
Advise the City's financing team on areas of specific industry knowledge which
may affect the financing and marketing of municipal debt.
Assist bond and underwriter counsel in preparing the text of the preliminary
and final official statements. Official statements will include a description of the
securities, the project, and pertinent financial and economic data. In the
preparation of such official statement, assist the City in ascertaining material
facts and circumstances regarding the project. The official statement will be
made available, together with copies of the official notice of sale and basic
legal documents, to a comprehensive list of prospective bidders.
Prepare credit profiles and assist City in making necessary presentations to
bond insurance companies and/or rating agencies.
Assist in representing the City at informational meetings if such meetings are
desired by underwriters or potential bidders.
Appear at no less than 2 Council meetings per debt issuance.
Assist in negotiations with bond insurers and/or letter of credit providers.
Manage competitive or negotiated sale process. Arrange for advertising and
pre-marketing of issue. Represent the City at the bid opening for a public sale
and analyze such bids, identify the most favorable bid, and make a
recommendation as to award of the bid. Act as the City's agent if bid
negotiations are required. After the bid is awarded, prepare an actual debt
service table based on accepted coupon rates. In the event of a negotiated
offering, assist the City in negotiating appropriate terms, reviewing spreads,
comparing deals, analyzing market levels, and clarifying syndicate roles with
selected underwriter.
Assist the City in closing the financing, which includes assistance in selecting
a bond printer and in advising the City on the investment of bond proceeds
prior to expending such proceeds.
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Revised 10-14 (09-17)

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