GENERAL CONDITIONS

To Receive A Copy of this RFP:

Contact:Joel Cracchiolo

Title: Business Manager

Phone #: (636)-271-1400

E-mail:

RETURN PROPOSAL NO LATER THAN:Wednesday, September 10, 2014at 1:00 p.m., CST

RETURN PROPOSAL AND ANY ADDENDA TO:

Meramec Valley School District

ATTN:Joel Cracchiolo, Business Manager

126 N Payne Street

Pacific, Missouri63069

The Proposer hereby declares understanding, agreement and certification of compliance to provide the items and/or services, at the prices quoted, in accordance with all terms and conditions, requirements and specifications of the original Request for Proposal (RFP) and as modified by any addenda thereto. All proposals must be complete and properly executed by the vendor and received by the date and time noted above to be considered.

Wentzville R-IV School DistrictPage 1

Independent Financial Advisor – District Bond Issues & Debt

DISTRICT BACKGROUND

The Meramec Valley R-III School District has determined that a Financial Advisor may be needed to monitor the proper time to call, refinance, or refund outstanding bonds, and to serve as Financial Advisor for any new issue bonds that may be appropriate during the next three to five years.

This document is a formal Request for Proposal (RFP) for soliciting fee proposals for a Financial Advisor for a minimum of three (3) years with the option for a yearly extension up to two additional years.

GENERAL INFORMATION

  1. MVR-III reserves the right to reject any or all proposals and to waive informalities or irregularities in any proposal. In consideration for the District’s review and evaluation of its proposal, the vendor waives and releases any claims against the District arising from any rejection of any or all proposals, including any claim for costs incurred by the vendor in preparation and presentation of proposals submitted in response to this RFP. In addition, the vendor waives the costs of providing additional information as requested.
  2. All proposals and vendor conduct shall be in accordance with all applicable local, state and federal laws and regulations.
  3. It is expected that all products and services being proposed in the RFP are under the direct ownership and/or supervision of the vendor submitting a proposal. The vendor agrees not to assign or sublet any or all of the contract unless it has written permission from the WSD. If accepted by the WSD, the vendor assumes all responsibility for the secondary vendor and comply with the WSD RFP requirements.
  4. Proposals are not to include sales tax.
  5. MVR-III accepts no responsibility for any error in the vendor’s responses. The vendors are liable for all errors or omissions contained in their responses.
  6. At any time before the time and date set for submittal of proposals, a vendor may submit a modification of a proposal previously submitted in the same form and manner as the original proposal.
  7. Proposals may be withdrawn by written notice, which must be received prior to the exact hour and date specified for the receipt of proposals. A proposal may also be withdrawn in person by the vendor, provided their identity is made known and they sign a receipt for the proposal, but only if made prior to the hour and date specified for the receipt of proposals.
  8. All proposals submitted shall be a firm proposal for a minimum of sixty (60) days after the proposal closing date. The District may request the vendor to grant an extension of the proposal effective period.
  9. MVR-III reserves the right to cancel or reissue the RFP at any time, or extend the date and time for submitting proposals.
  10. Proposals, modifications and withdrawals of proposals received after the exact hour and date specified will not be considered. Late proposals, modification and withdrawals will be returned unopened.
  11. MVR-III shall assume no responsibility for delay in the U.S. Postal Service or any other mail services resulting in a proposal arriving late.The vendor is responsible to insure their proposal has been received and sign for in accordance with the exact hour and date.
  12. Properly received proposals will be opened and reviewed at a later date. A final proposal tabulation will be available after the Board of Education has awarded the contract. All proposals submitted become the property of the MVR-III and are a matter of public record after the Board of Education has awarded the contract.
  13. MVR-III reserves the right to make an award without further discussion of the response(s) submitted.
  14. MVR-III has the right to waive any informality or irregularity in any proposal(s) received and to accept the proposal(s) which, in its judgment, is in the best interest of the District. MVR-III may choose to not award any contract after the process of the RFP. If an award of contract is made, MVR-III and the vendor will sign a Notice to Proceed with mutual terms, conditions and specifications agreed upon.
  15. By submitting a proposal, the vendor certifies they have not, either directly or indirectly, entered into any agreement, participated in any collusion or otherwise taken any action in restraint of the free competitive process. If MVR-III determines that collusion has occurred, none of the proposals for the participating vendors will be considered.
  16. MVR-III determination will be final.A tentative presentation date for approval to the MVR-III Board of Education is recommendation for at the September 17, 2014 Board Meeting. The District and the awarded vendor will work out a detailed project schedule that is mutually agreed upon and ultimately approved by the District.
  17. The selected vendor is expected to enter into a contract with MVR-III based upon the vendor’s response to this RFP and the terms and conditions of the RFP. Failure to complete contract negotiations will result in disqualification. A contract shall be signed and valid before any monies, products or services are exchanged. In the event of a disqualification the next vendor in succession will be given an opportunity at contract negotiations.
  18. MVR-III may conduct investigations, as it deems necessary to assist in the evaluation of any proposal. This will be to establish the qualification, financial stability and the ability for the vendor to comply with their stated proposal.
  19. By submitting a RFP, the vendor insures that no gratuities were offered or given to any person, officer or agent of MVR-III.
  20. The vendor will note any and all relationships that might be a conflict of interest and shall include such information with their proposal submitted.
  21. All factors will be considered in evaluating each RFP including, but not limited to; price, references in the school industry, past performances, prior experience or history with the Meramec Valley R-III School District, the degree in which all RFP requirements are met or exceed the requirements and other reasonable criteria.
  22. The Meramec Valley R-III School District shall have the right to terminate its contract should the firm fail to fulfill, in a timely and proper manner, the obligations agreed to by the firm. A written notice will be given of termination by the Meramec Valley R-III School District. In this event, the firm shall be entitled to just and equitable compensation for any satisfactory work completed.

SCOPE OF WORK OF A FINANCIAL ADVISOR

The services required of the financial advisor will include, but not limited to the following:

  1. Review and analyze all outstanding bond issues. This should be done, at a minimum, on a quarterly basis. The analysis should be summarized in a detailed report and should indicate if it is financially beneficial to refund, refinance, call, repurchase, or otherwise alter the repayment schedule of all or any part of any outstanding issue.
  1. In the event that the District decides to refund, refinance, call, repurchase, or otherwise materially affect the outstanding issues, the Financial Advisor will be required to advise the District on the various structures and or methods available to achieve its goals.
  2. This would include, but not limited to, the following:
  3. Preparation of recommended maturity schedules and debt service projections that are cost effective and beneficial to the District.
  4. Advise and assist the District in evaluating the cost effectiveness of credit enhancement.
  5. Assist the District in obtaining the best possible rating from the various rating agencies, including attendance at any presentation to such agencies.
  6. Function as receiver and evaluator of all underwriting bids to determine the best bid, including verification of interest rates and other pertinent data.
  7. The Financial Advisor will be responsible for coordinating and supervising the work of all parties involved in the restructuring to ensure that the events are completed in a timely manner.
  8. The Financial Advisor will attend all meetings required by the District.
  9. The Financial Advisor will work jointly with bond counsel and underwriters to prepare, print and distribute any necessary documents. The cost of printing and distributing such documents must be included as part of the proposal.

PREPARATION AND SUBMITTAL OF PROPOSAL

  1. All proposal are due no later than Wednesday, September 10, 2014 at 1:00 p.m. CST in a sealed envelope.
  2. By submitting a proposal, the vendor understand the RFP requirements and their proposal is made in accordance. MVR-III in no case is responsible for any loss of unanticipated costs that may be suffered by the vendor as a result of not understanding the conditions pertaining to the RFP and contract.
  3. MVR-III shall not be responsible for any costs incurred by the firm in the preparation of the proposal.
  4. Any vendor submitting a proposal, who is in doubt as to the true meaning of any part of the proposal documents, or finds discrepancies in or omissions from the proposal documents, shall submit to Joel Cracchiolo, Business Manager a written request via email for interpretation or correction thereof. Such request shall be submitted and received no later than Friday, September 5, 2014 to interpretation or correction of the proposal documents will be made in an addendum to all vendors.
  5. Include signed E-Verify, Attachment A and a W-9.
  6. Three (3) complete copies shall be placed in a sealed envelope and mailed or hand delivered to:

Meramec Valley R-III School District

Attn: Joel Cracchiolo, Business Manager

126 N Payne Street

Pacific, MO 63069

  1. Proposals will be in a sealed envelope and must include all information requested in this RFP. No other form (oral, telephonic, fax or electronic) will be considered.
  1. The sealed envelope must have the vendor’s name, return address and the words “FINANCIAL ADVISOR RFP” on the outside of the envelope.
  2. At any time should MVR-III change, revise, delete, clarify, increase or decrease or otherwise modify the RFP, MVR-III will issue a written Addendum which can be mailed, emailed, faxed or delivered to all interested parties known.

REQUIRED COMPONENTS OF THE RFP

  1. The proposal should accurately state the services to be provided by the Financial Advisor. It may restate the services described in this RFP, modify the services described in this RFP, and/or add to the services described in this RFP based on experience and judgment of the Financial Advisor. The services described should be for three (3) years.
  2. The proposal should accurately state all qualifications for providing the required services and any experiences relevant to the required services. Please address the following areas:
  • Overall experience in serving as a Financial Advisor
  • Identify the engagement in connection with tax-exempt financing and advisory services rendered by your firm since January 1, 2013.
  • Cite your experience with regard to special elements of tax-exempt financings, including optional early redemption provisions (i.e., call provisions), arbitrage considerations, bond refunding, and forward contracts.
  1. The proposal should identify the individuals within your firm who would be responsible for this engagement, include job title and describe the qualifications and relevant experience of each person named. In addition, present an overview of your firm’s support/advisory resources, if any, related to public financing in such areas as debt structure, bond refinancing and refunding, and alternative financial strategies. Include the individual who would actively work with the Meramec Valley R-III School District’s account. Provide any additional information about the project team.
  2. The proposal can be based on an hourly rate, fixed fee or contingency basis, with a contingency basis being preferred by the District. However, if an hourly rate is proposed, please indicate your total estimate hours for this project. Likewise, if a fixed fee is proposed, please indicate an hourly rate for additional services, if required. The proposal may can have different price rates for different services. For example, a firm may propose one fee for assisting with the refinancing of an issue, and another fee for assisting with the calling of an issue. The proposal should address any out-of –pocket expenses to be reimbursed by the Meramec Valley R-III School District.
  3. The proposal should include a minimum of three references. All references must be current – two years or less. The Meramec Valley R-III School District reserves the right to contact additional references, which are known to the Meramec Valley R-III School District but may not have been provided in the proposal. References should include the company/schools, contact names and contact phone numbers.

(Must be included in sealed envelope)

FEDERAL WORK AUTHORIZATION PROGRAM (“E-VERIFY”) ADDENDUM

Pursuant to Missouri Revised Statute 285.530, all business entities awarded any contract in excess of five thousand dollars ($5,000) with a Missouri public school district must, as a condition to the award of any such contract, be enrolled and participate in a federal work authorization program with respect to the employees working in connection with the contracted services being provided, or to be provided, to the District (to the extent allowed by E-Verify). In addition, the business entity must affirm the same through sworn affidavit and provision of documentation. In addition, the business entity must sign an affidavit that it does not knowingly employ any person who is an unauthorized alien in connection with the services being provided, or to be provided, to the District.

Accordingly, your company:

a) Agrees to have an authorized person execute the attached “Federal Work Authorization Program Affidavit” attached hereto as Exhibit A and deliver the same to the District prior to or contemporaneously with the execution of its contract with the District;

b) Affirms it is enrolled in the “E-Verify” (formerly known as “Basic Pilot”) work authorization program of the United States, and are participating in E-Verify with respect to your employees working in connection with the services being provided (to the extent allowed by E-Verify), or to be provided, by your company to the District;

c) Affirms that it is not knowingly employing any person who is an unauthorized alien in connection with the services being provided, or to be provided, by your company to the District;

d) Affirms you will notify the District if you cease participation in E-Verify, or if there is any action, claim or complaint made against you alleging any violation of Missouri Revised Statute 285.530, or any regulations issued thereto;

e) Agrees to provide documentation of your participation in E-Verify to the District prior to or contemporaneously with the execution of its contract with the District (or at any time thereafter upon request by the District), by providing to the District an E-Verify screen print-out (or equivalent documentation) confirming your participation in E-Verify;

f) Agrees to comply with any state or federal regulations or rules that may be issued subsequent to this addendum that relate to Missouri Revised Statute 285.530; and

g) Agrees that any failure by your company to abide by the requirements a) through f) above will be considered a material breach of your contract with the District.

By: ______(signature)

Printed Name and Title: ______

For and on behalf of: ______(company name)

Independent Financial Advisor – District Bond Issues & Debt

(Must be included in sealed envelope)

EXHIBIT A

FEDERAL WORK AUTHORIZATION PROGRAM AFFIDAVIT

I, ______, being of legal age and having been duly sworn upon my oath, state the following facts are true:

1.I am more than twenty-one years of age; and have first-hand knowledge of the matters set forth herein.

2. I am employed by ______(hereinafter “Company”) and have authority to issue this affidavit on its behalf.

3.Company is enrolled in and participating in the United States E-Verify (formerly known as “Basic Pilot”) federal work authorization program with respect to Company’s employees working in connection with the services Company is providing to, or will provide to, the District, to the extent allowed by E-Verify.

4.Company does not knowingly employ any person who is an unauthorized alien in connection with the Services Company is providing to, or will provide to, the District.

FURTHER AFFIANT SAYETH NOT.

By: ______(individual signature)

For ______(company name)

Title: ______

Subscribed and sworn to before me on this _____ day of ______, 201___.

______

NOTARY PUBLIC

My commission expires:

REQUEST FOR PROPOSAL

Meramec Valley R-III School District

126 N Payne Street

Pacific, MO 63069

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Independent Financial Advisor

District Bond Issues & Debt

Detailed Proposal Information is available on District Website

Bid Closing Date: Wednesday, September 10, 2014

Bid Closing Time: 1:00 p.m. local time

MVR-III reserves the right to reject any or all proposals and to waive informalities or irregularities in any proposal.