Sound Transit Biddingo #QQ 0108-23

Sound Transit Awards Arbitrage Rebate Services Contract to BLX Group LLC

Sound Transit has awarded a contract for Arbitrage Rebate Services to BLX Group LLC to ensure compliance with IRS regulations for tax-exempt debt and bond investments. - Government Buyer: Central Puget Sound Transit Authority (Sound Transit), Contracts Specialist: Nicolas Carrillo - OEMs/Vendors: - BLX Group LLC (awardee) - Arbitrage Compliance Specialists, Inc. (unsuccessful bidder) - Products/Services Requested: - Arbitrage Base Reports (including calculation of rebate amounts due to IRS, bond yield and investment yield calculations, IRS Form 8038-T preparation, review of closing documents, pre-issuance planning, yield reduction payment calculations, penalty in lieu or rebate amounts, review for exceptions, commingled funds, refunding issues, transferred proceeds, overpayment calculations, and legal/CPA opinions) - Additional report elements: Spending Exception Compliance Analysis, Variable Rate Issue, Transferred Proceeds Analysis, Commingled Funds Analysis, Yield Restriction Analysis, Final/Fifth Year Report Computation - Consulting services: Representation in IRS inquiries, ongoing consultation on bond issues and arbitrage requirements, and support from roles such as Managing Director, Associate Director, Manager, Analyst/Consultant, and Tax Partner/Tax Attorney - Notable Requirements: - Adherence to US Treasury Regulations for arbitrage compliance - Commitment to diversity, equal employment opportunity, and data security compliance - Pricing is unit-based for reports and hourly for consulting services - Contract Term: Five years, with an option to extend for an additional five years

Description

Central Puget Sound Transit Authority (Sound Transit) is requesting proposals for Arbitrage Rebate Services. The selected consultant shall provide an Arbitrage Base Report and additional report elements as requested, including related services such as representation in the event of an IRS inquiry and bond issue development. The contract term is five years with an option to extend for an additional five years. The scope includes calculating rebate amounts, bond yields, investment yields, preparing IRS forms, reviewing closing documents, pre-issuance planning, and providing legal or CPA opinions on arbitrage calculations.

View original listing