Bond Counsel and Disclosure Services

The vendor required to provide bond counsel and disclosure services in connection with the authorization, issuance, sale, and delivery of bonds, notes, and other debt instruments for agency.
- Bond counsel
1. Legal review and advice
•    Examine applicable federal and state law and legal issues relating to the structure and issuance of central debt obligations.
•    Advise central on all legal and tax issues affecting the financing, including compliance with federal tax and securities.
•    Advise central on the application of federal and state securities laws to bond issuance, portfolio management, and secondary market disclosure, including opinions on exemption from registration with the sec and state regulators.
2. Document preparation and review
•    Prepare and review all necessary documentation for the authorization, issuance, sale, and delivery of the bonds or other debt instruments.
•    Draft and review resolutions, ordinances, notices, certificates, and other authorizing documents as required.
3. Opinions
•    Render an objective legal opinion that the bonds or other debt obligations are valid and binding obligations of central, and that the interest is exempt from federal and state income tax, if applicable.
•    Provide any other opinions necessary to complete the transaction.
4. Coordination and consultation
•    Consult with central staff, financial advisors, underwriters, and other parties to the transaction prior to the issuance of the bonds.
•    Participate in meetings with central as requested.
5. Disclosure and compliance
•    Assist in the preparation and review of sections of the preliminary official statement and final official statement relating to legal matters, tax status, and disclosure.
•    Advise central on continuing compliance with federal and state tax, securities, and other applicable laws, including arbitrage and continuing disclosure requirements.
•    Advise on central disclosure practices and provide ongoing advice concerning timing and adequacy of disclosure.
6. Closing and post-issuance
•    Prepare and file all applicable filings as required by federal and state law.
•    Prepare closing documents and certificates and assist with the closing and delivery of the bonds.
•    Provide ongoing legal support and advice for existing bonds or notes as requested by central.
7. Other related services
•    Undertake such additional duties as deemed necessary to render the required legal opinions and to ensure the successful completion of each bond issue.
- Disclosure counsel
1. Disclosure document preparation and review
•    Assist in the preparation and review of specified sections of the preliminary official statement and the final official statement for central bond offerings.
•    Ensure that all disclosure documents accurately reflect legal matters, tax status, and other required information.
•    Understand that disclosure counsel will not be expected to independently verify other data contained in the official statement, and the official statement may so state.
2. Legal advice on securities law compliance
•    Advise central on the application of federal and state securities laws to bond issuance, portfolio management, and secondary market disclosure. 
•    Issue opinions concerning exemption of central securities from registration with the country securities and exchange commission and with state securities regulators, as applicable. 
•    Provide ongoing advice concerning the timing and adequacy of disclosure, including compliance with continuing disclosure requirements. 
•    Advise with respect to exemption from registration of trust indentures. 
•    Advise on central disclosure practices and provide ongoing guidance to ensure compliance with all applicable laws and regulations.
- Budget: $30 million

- Contract Period/Term: 1 year
- Questions/Inquires Deadline: January 14, 2026