Bond Underwriting Services

The Vendor is required to provide bond underwriting services for each bond issuance, the city will select a lead underwriter from the pool and, as appropriate, designate additional underwriting participants depending on the type, scale, and market conditions of the financing.
- The City also periodically issues Lease Revenue Bonds (“LRB”) and other financings to support capital projects and long term infrastructure needs.
- The services required by the City include, but may not be limited to, the following:
•    Attend and participate in meetings and conference calls related to the financing.
•    Provide ongoing information to the city regarding market conditions, investor demand, and transaction status.
•    Review and comment on all documents related to the financing, including preliminary and final official statements, resolutions, indenture/trust agreements, escrow agreements, and related materials.
•    Assist in preparing presentations to the city council, finance committee, rating agencies and investors, as appropriate.
•    Identify, evaluate, and explain the benefits and risks of alternative financing structures.
•    Work with the financing team to analyze, develop, and execute a financing strategy that accounts for existing structural parameters, legal requirements, and current market conditions.
•    Assist the city in assessing the benefits of credit enhancement, reserve fund strategies, and other structural features.
•    Advise the city regarding the timing, sizing, and structure of each financing.
•    Assist in the development of bond security features and credit considerations.
•    Provide insight into investor preferences and credit considerations relevant to district and LRB transactions.
•    Develop and implement a marketing plan designed to achieve the most favorable terms for the bonds.
•    Structure, schedule, and lead the marketing and sale of the bonds.
•    Market the bonds in a manner designed to achieve the lowest possible borrowing cost.
•    Underwrite the bonds, as necessary, at appropriate market yields.
•    Provide assistance in closing the bonds, including coordination with the financing team and dissemination of required documentation.
•    Perform other duties as requested by the city that are customary for municipal bond underwriters.