Trustee Services 2026 Certificates of Participation Issuance

REQUEST FOR QUOTE
for
TRUSTEE
CITY OF CASPER, WYOMING
June 17, 2026
Overview
The City of Casper, Wyoming (the "City") is seeking fee quotes from financial institutions to
provide trustee services regarding the anticipated issuance of Certificates of Participation, Series
2026 (the "2026 COPs"). Proceeds of the 2026 COPs will be used to finance a project fund of
approximately $15 million to finance the renovation of an office building previously purchased by
the City to serve as the City's new Police Headquarters. The City has purchased the facility and
completed prior phases of construction with available City cash and expects to finance the last
portion of project costs to fund the final renovation of the building.
The 2026 COPs will be paid from base rental payments to be made by the City to the Trustee
pursuant to the terms of a lease of real property. The payment of base rentals will be subject to
annual budgetary appropriation by the City.
The City reserves the right to reject all responses, to negotiate with any prospective firm, and to
terminate the proposed financing at any time. If the 2026 COPs are not delivered for any reason,
the proposing firms will have no recourse against the City, its financial advisor, or any of their
affiliates, agents or representatives for any expenses, losses, damages, or liability incurred.
Anticipated Legal Structure of the Transaction
The City currently anticipates using a portion of the facility as the leased property for the 2026
COPs ("2026 Leased Property"). The City has hired Hathaway & Kunz to serve as Bond Counsel
for the 2026 COPs; they will be assisting the City along with the finance team to determine the
number of floors or portion of the Police Headquarters Facility that will be serving as the final 2026
Leased Property. The 2026 Leased Property will be leased by the City to the Trustee pursuant to a
Site Lease. The City will lease the Leased Property back from the Trustee under the terms of an
annually renewable Lease Purchase Agreement. Subject to annual appropriation, the City will make
annual Base Rental Payments to the Trustee under the terms of the Lease Agreement. The Trustee
will repay the 2026 COPs from the Base Rentals received from the City under the Lease Agreement.
The Site Lease will terminate upon the earlier of the full payment of the Lease Agreement, or upon
its expiration.
The Trustee will be acting solely in its capacity as trustee under an Indenture of Trust pursuant to
which the 2026 COPs will be executed and delivered. The Underwriter will purchase the 2026
COPs from the Trustee, and the Trustee will use the proceeds to prepay all rentals due to the City
under the Site Lease. The City will apply the funds received as prepaid rentals from the Trustee to
the eligible Project.
Neither the 2026 COPs nor the Lease Agreement will be a long-term debt or multiple fiscal year
obligation of the City for State law purposes. The Lease Agreement is renewable from fiscal year
to fiscal year by the act of appropriation of the rentals due under the Lease Agreement. The City's
obligation to make payments under the Lease Agreement will not extend beyond any fiscal year
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for which an appropriation has been made. Annually appropriated lease payments may be paid from
any available revenues of the City.
It is anticipated that the 2026 COPs will be issued via public offering in a negotiated sale with Piper
Sandler as the underwriter. The repayment term will likely be between 15 and 20 years; the City is
still working on finalizing the repayment term which will be definitively determined prior to
pricing.
City of Casper, Wyoming
Casper is physically situated in the center of Wyoming with a population of 59,038. Wyoming's
only other metropolitan area is Cheyenne, the state capital. Cheyenne is slightly larger than Casper
with a population of 65,132.
Heading south on Interstate 25 Casper is connected to Cheyenne and Denver (175 miles and 275
miles, respectively). Heading north on I-25 connects Casper to Billings (278 miles). Casper also
has direct air service to Denver via the Casper-Natrona County International Airport.
Casper is located in a prairie environment at the base of Casper Mountain. The North Platte River
runs through the entirety of the city. Three smaller towns - Mills, Evansville, and Bar Nunn - are
immediately adjacent to the City; those towns have a combined population of just over 10,000
people.
Additional information about the City may be found on the City's website at: Casper, WY.
Additional Information
Hilltop Securities Inc. is serving as the City's Municipal Advisor. Piper Sandler is serving as the
City's Underwriter. Hathaway & Kunz is serving as the City's Bond Counsel.
Submission of Proposals
Please limit your overall response to the items listed below to a maximum of 3 pages. The City
encourages each respondent to provide full and complete information to the extent that it may
directly apply to the proposed transaction, but encourages each respondent avoid the use of
repetitious or boilerplate language. Please submit your proposal via e-mail no later than 3:00
pm MT on July 6, 2026 to:
Jill Johnson City of Casper jjohnson@casperwy.gov
Mattie Prodanovic Hilltop Securities Inc. Mattie.Prodanovic@hilltopsecurities.com
Tentative Schedule of Events
June 17, 2026 Distribution of Request for Quotes
July 6 Proposals delivered to the City
July 8 Firm Selected
October 20 Projected sale of COPs
October 29 Projected closing of COPs
Any information requests, questions about the selection process or questions about the financing
should e-mailed to the City's Municipal Advisor (contact information provided above).
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REQUIRED RESPONSE ITEMS - 3 Pages Maximum
Please provide responses to these items in the general sequence presented. Responses may be
combined to economize on space or to improve clarity. The City discourages the use of boilerplate
language and exhibits and encourages each proposing firm to prioritize its responses within the
stated page limitation according to its sense of the relative importance of the information.
1. Please provide a brief overview of your firm and identify the personnel assigned to this
transaction.
2. Please provide your proposed fee structure for the 2026 COPs. Included in this response
please include the following.
a. Delineate in your fee the amounts that will be reoccurring on an annual basis versus
those that are due upon closing of the 2026 COPs;
b. Clearly include if you will charge an additional fee to manage the cost of issuance
fund for the 2026 COPs from which payment to vendors will be distributed; and
c. Describe any fees charged to the City for investment of amounts in the Project
Fund if that account is held by the Trustee.
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