The vendor required to provide bond counsel, disclosure and other counsel services for include:
- Bond counsel
• Provide the city with legal advice and assistance on matters pertaining to the issuance and sale of city bonds;
• Prepare and review documents necessary or appropriate for the authorization, issuance, sale, and delivery of city bonds including but not limited to the ordinance, indenture, leases, disclosure document, closing documents, etc., as applicable;
• Review legal issues relating to methods of structuring financings, payments, bond terms, potential cost savings techniques, and other legal matters relating to issuance of bonds;
• Assist the city in communicating with bond rating organizations and credit enhancement providers as such communication relates to legal issues affecting the issuance of the city bonds;
• Work with other members of the city’s bond financing team including, but not limited to, financial advisors, underwriters, trustees and other legal counsels to manage the transaction and schedule;
• Participate as necessary in finance team meetings and conference calls;
• Assist in a smooth transition to another bond counsel at the conclusion of the engagement, if any, resulting;
• Advise the city on areas of industry-specific knowledge, new strategies and initiatives to enhance outcome and lower cost;
• Make the city aware of all relevant legal and regulatory developments;
• Render all necessary standard legal opinions for bonds or opinions associated with the issuance of commercial paper;
• Provide sophisticated legal advice on federal tax matters;
• Assist with presentations to rating agencies, market participants, and others;
• Manage the process of pre-closing and closing a transaction;
• Assist disclosure counsel, if any, with the preparation of disclosure and continuing disclosure documents and processes, as needed;
• Advise on debt management, investment, and other policies, as needed;
• Review and analyze the allocation of bond proceeds associated with each bond transaction;
• Integrate legal requirements into overall bond and debt transaction timetable and monitor compliance;
• Provide advice regarding and assist in the preparation of responses to any inquiry and or audits by any regulatory agency, including, but not limited to the internal revenue service; s
• The city, attend on-site meetings on matters concerning financial techniques, bond issues, and other applicable legal issues;
• Comply with and interpret the requirements of the internal revenue code related to the issuance of bonds and notes by the city and ongoing matters related to the city’s outstanding bonds;
• Assist the city in post issuance compliance requirements and review the post issuance compliance policy and procedures, and;
• Provide other legal opinions, services, or advice as may be required.
- Disclosure counsel
• Provide annual training session regarding disclosure and continuing disclosure responsibilities, regulations, industry standards and best practices to city staff responsible for and involved in providing information for disclosure documents and continuing disclosure compliance and develop framework and schedule for gathering and updating information timely and efficiently; (training manual and handbook is to be provided and periodically updated as necessary.)
• Provide updates on changes to rules, regulations, guidance, standards and industry practices related to disclosure and continuing disclosure requirements;
• Draft disclosure documents that meet best practices and industry standards, comply with securities laws and serve as a model for future issuances;
• Draft pos and OS and continuing disclosure agreements, as required;
• Review bond documents for the purpose of proper disclosure;
• Review additional materials that affect the disclosure document (i.e., websites, marketing materials, annual and quarterly reports, new programs, etc.);
• Assist the city, in conjunction with the financial advisor, in preparing for due diligence meetings and calls;
• Render disclosure opinions for all city bonds, as applicable;
• Review existing continuing disclosure agreement and perform research regarding compliance with rule 15c2-12, and;
• Draft and review all mandatory or voluntary continuing disclosure filings and assist the city and dissemination agent in timely posting to EMMA and as may otherwise be required.
- Contract Period/Term: 3 years
- Questions/Inquires Deadline: January 5, 2026
