South Pasadena Planet bids #CM26-03

Municipal Advisory Services for Water Debt Refunding – City of South Pasadena

The City of South Pasadena's Finance Department is seeking proposals for professional municipal advisory services to support a potential refunding of its 2016 Water Revenue Refunding Bonds. - Government Buyer: - City of South Pasadena, Finance Department - Procurement Contracts Administrator: Joan M. Powe - Scope of Services: - Municipal advisory services for evaluating and potentially executing a bond refunding - Market assessment and feasibility analysis to determine if refunding will achieve present value savings for Water Fund ratepayers - Structuring the transaction and coordinating the financing team (bond counsel, underwriter, fiscal consultant, and possibly a bond rating agency) - Reviewing transaction documents, monitoring market conditions, and providing rate timing advice - Supporting the City through closing and post-closing activities - Coordination with City staff and governing bodies - Requirements: - Advisor must be registered with the SEC and MSRB - Must act as a fiduciary to the City and cannot serve as underwriter for the transaction - Compensation is contingency-based, payable only upon successful closing of the refunding - No specific OEMs, product vendors, or part numbers are mentioned, as this is a professional services solicitation

Description

The City of South Pasadena is seeking proposals from qualified municipal advisors to provide advisory services for a potential refunding of the City's 2016 Water Revenue Refunding Bonds. The services include evaluating market conditions, confirming the feasibility and financial benefits of the refunding, and assisting in executing the refunding if approved by the City Council. The goal is to achieve meaningful present value savings for Water Fund ratepayers. The selected advisor must be registered with the SEC and MSRB and act as the City's fiduciary throughout the engagement.

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