The Vendor is required to provide underwriter(s) will assist the city in planning, structuring, marketing, and executing future debt issuances.
1. Transaction planning and advisory support
• Provide ongoing information regarding market conditions, investor demand, and transaction timing considerations.
• Advise the city on the optimal timing, sizing, and structure of each financing.
• Identify, evaluate, and explain the benefits and risks of alternative financing structures.
• Assist in assessing the benefits of credit enhancement, reserve fund strategies, and other structural features.
• Provide insight into investor preferences and credit considerations relevant to the city’s financing types.
2. Document review and due diligence
• Review and comment on all financing documents, including preliminary and final official statements, resolutions, indentures and trust agreements, escrow agreements, and related materials.
• Participate in due diligence calls and meetings with the financing team.
• Assist in preparing disclosure materials and ensuring compliance with applicable federal securities laws.
3. Rating agency and investor outreach
• Assist in preparing materials and participating in presentations to rating agencies, investors, the city council, and other stakeholders.
• Provide analysis and recommendations to support the city in achieving the strongest possible credit profile.
4. Structuring, marketing, and sale
• Work with the financing team to develop and execute a financing strategy that reflects legal requirements, existing structural parameters, and current market conditions.
• Develop 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 at appropriate market yields.
5. Closing and post-sale support
• Coordinate with the financing team to complete all closing requirements and ensure timely delivery of funds.
• Provide post-pricing analysis, including order flow, investor participation, and pricing relative to benchmarks.
• Perform other customary underwriting duties as requested by the city.
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