RFP

INSTRUCTIONS TO PROPOSERS
Questions. Proposers may email questions directly related to this RFP to the contacts listed below but shall not otherwise contact any City of Fort Worth staff or elected officials during the RFP process. The City of Fort Worth may disqualify any vendor who makes site visits or contacts any staff or elected official of the City in violation of this policy.

The City will accept questions related to this RFP until 10:00 AM central time on Tuesday, January 21, 2025. All questions received by that time and the City’s responses will be posted to the City’s BondLink page and the Texas MAC homepage on Thursday, January 23, 2025.

Proposal Contacts. Please direct all questions regarding this RFP to:

• Alex Laufer, Debt Manager
  City of Fort Worth
  817-392-2268
  Alex.Laufer@fortworthtexas.gov
• Karlos Allen
  PFM Financial Advisors LLC
  713-848-6420
  allenka@pfm.com
• Esther Young
  Tijerina Financial Consulting
  214-974-8949
  eyoung@tfcma.com

Submission. Proposers shall submit their response via e-mail only to Alex.Laufer@fortworthtexas.gov, allenka@pfm.com, and eyoung@tfcma.com.

Responses must be received by 4:00 PM central time on Thursday, January 30, 2025 to be considered.

Proposals shall be limited to ten (10) pages or less, exclusive of a cover page, and typewritten in a font no smaller than 11 point. The proposal shall contain, at a minimum, responses to the items listed under the sections entitled “PROPOSAL REQUIREMENTS” and “REQUIRED DISCLOSURES.” Proposers may include any other information desired but should not exceed the ten-page limit.

The City reserves the right to waive formalities, irregularities, and defects in any or all proposals, except as otherwise required by law. The City reserves the right to: reject any or all proposals; to reject a portion of any or all proposals; to negotiate and execute or to not negotiate and execute a Pricing Agreement/Contract with any proposer; to solicit new or different proposals; and to alternatively issue the transactions described herein via competitive sale. The City reserves the right to negotiate and/or contract with one or more proposers for all or a portion of any proposal or proposed services.

PROPOSAL REQUIREMENTS.

1. State whether your firm desires to be considered as book-running senior manager or co-managing underwriter. If your firm is not selected as book-running senior manager, state if you are willing to serve as a co-manager.
2. Describe your firm’s classification as national/Wall Street, regional, or M/WBE. If your firm is certified as an M/WBE, please attach current certifications to your submission (these will not count against the three-page limit).
   1. In accordance with the City’s Business Equity Ordinance No. 25165-10-2021, as amended, the purpose of this Article is to remedy past underutilization and provide a fair and level playing field for Business Equity Firms and to encourage the participation of Business Equity Firms to contract with the City. The City has goals for the participation of Business Equity Firms (certified minority-owned business enterprises and/or women-owned business enterprises) in City contracts over $100,000.
3. Describe the amount of uncommitted capital available and the ability and willingness of the firm to purchase an entire offering of the City, if necessary, in the case of a firm underwriting.
4. Describe your participation in the last five (5) years in the City’s competitive bond sales.
5. Describe any investments your firm has made in the City and list any offices or personnel located within the City.
6. Describe your experience with the type of bond issues that are being offered.
7. Describe your structuring and pricing strategy for each of the proposed issues. Include a discussion of the type of investors you will target for these bond sales.
8. Discuss any thoughts on a debt service reserve fund for the bonds including but not limited to require by the market or credit rating, pricing of the bonds, change in potential investors, etc. The City evaluates the use of a debt service reserve funds funded by proceeds of bonds, available cash, or the purchase of a surety bond to the extent authorized by law. The desirability of using a reserve will be evaluated on a case-by-case basis.
9. Provide an indicative tax-exempt scale with takedowns by maturity, estimated TIC, and estimated average takedown for the proposed issue. The scale may be included as an appendix. For the issue, assume tax- exempt rates as of market close Tuesday, January 28, 2025; closing date of Thursday, February 27, 2025 for purposes of illustration; 30-year level debt service; 10-year par call in 2035; and “A1”/ “A+” ratings from Moody’s and Fitch, respectively.

REQUIRED DISCLOSURES.

1. Disclose any pending or completed investigations within the past five (5) years by the NASD, SEC, MSRB, or any other regulatory body regarding the conduct of your firm, employees, or the firm’s management.
2. Disclose any conflicts of interest, as stated in MSRB Rule G-17, including finder’s fees, fee splitting, or other contractual arrangements of the firm that could present a real or perceived conflict of interest. Disclose any relationship, contractual or otherwise, that your firm has with any individual, organization, or firm that may be a party to the City.
3. Discuss any changes within the past three (3) years in the management or ownership of your firm.
4. Discuss any anticipated mergers, transfers of organization ownership, management reorganization, or change in key personnel in the next twelve (12) months and how that could impact this project if awarded.
5. Confirm that your firm has filed a standing letter with the Texas Attorney General evidencing that it is compliant with Texas SB 13 and SB 19, each enacted into law in 2021, that the standing letter reflects the current compliance of the firm with SB 13 and SB 19, and that the firm is not aware of any circumstances which would cause the City not to be able to rely upon the representations made by the firm in its standing letter currently on file with the Texas Attorney General.