Redondo Beach Opengov #RFQ#2627-004

City of Redondo Beach seeks broker/dealers to invest Measure FP General Obligation Bond proceeds

The City of Redondo Beach is seeking qualified broker/dealers to invest proceeds from its $93,350,000 Measure FP General Obligation Bonds. - Government Buyer: - City of Redondo Beach, City Treasurer's Office - Purpose: - Invest bond proceeds to fund reconstruction of two fire stations and modernization of police facilities - Services Requested: - Broker/dealer investment services for bond proceeds - Compliance with City's Investment Policy - Completion of questionnaire and certification - Acknowledgment of regulatory requirements (FINRA registration, SEC Rule 15c3-1 compliance) - Unique Requirements: - No independent registered municipal advisor (IRMA) will be used - Broker/dealers must be added to the City's Approved List - Potential for ongoing portfolio rebalancing - No specific OEMs or vendors named; this is a prequalification for financial services providers

Description

The City of Redondo Beach is seeking responses from broker/dealers interested in investing the proceeds of its upcoming Measure FP General Obligation Bonds, a $93,350,000 bond measure approved in 2024 to fund reconstruction of fire stations and modernization of police facilities. Selected broker/dealers will be added to the City's Approved List and must certify understanding of the City's Investment Policy, which governs permissible investments for the bonds. The bonds are anticipated to be issued in early November 2026, with investments made via a competitive process aligned with the draw schedule. The City will not use an independent registered municipal advisor for this investment process.

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