The Vendor is required to provide for registrar and paying agent services to the state.
- All outstanding bonds are, and it is anticipated that all future bonds will be, book entry only, with the depository trust company (DTC), or other depository that may be desired by the market.
- As registrar and transfer agent, the provider shall authenticate the bonds, after communication by the state with the provider on the issuance of new bonds, including the preliminary official statement, which will be deemed notification to the provider of a pending new issue, and general terms/structure.
- The provider shall establish DTC, or its nominee, as the sole registered bondholder and participate in the bond closing, including authorizing the release of the bonds to DTC.
- On each payment date, the provider shall initiate the reverse wire transfer from the state’s account.
- The provider shall initiate the reverse wire no later than 9:30 am on each payment date to ensure same-day payment can be made to DTC in a timely manner.
- The provider shall remit to DTC full amounts due in a timely manner on the payment date. 
- By 1:00 pm on each payment date, the provider shall provide a detailed confirmation report to the state of all amounts transmitted to DTC.
- Periodically, the state may acquire bonds for cancellation. 
- The provider shall cancel the acquired bonds.
- The provider shall perform tax reporting as may be required by the internal revenue service.
- The state may request escrow services where, pursuant to an escrow agreement, the provider will hold funds and investments irrevocably pledged to the payment of designated bonds.
- Take all steps, including, but not limited to, securing appropriate guarantees of bondholders’ signatures on forms or assignments and authenticating newly issued bonds, necessary to affect transfers of bonds by bondholders.
- Upon receipt of funds from the state for payment of interest upon bonds, the provider shall pay to bondholders whose names are included on the list kept pursuant to subsection 1 above such as may become due on the bonds.
- The provider shall deliver to the state monthly reports and an annual consolidated report, as of June 30 of each year, of account for all amounts received by the provider, cash balances, paid bonds and interest coupons, and will make available for review by the state at the offices of the provider all records, ledgers, and books of account maintained for such bonds and coupons.
- Contract Period/Term: 3 years
- Questions/Inquires Deadline: June 25, 2025