CEFA01-25 - Municipal Advisor for Bond Sale and Related Services

Background
The California Educational Facilities Authority (CEFA) is seeking proposals from qualified firms for municipal advisory services related to the bond sale process. CEFA serves as a conduit issuer of tax-exempt bonds for non-profit higher educational facilities and assists with various programs. The goal of this RFP is to establish up to two contracts for these advisory services, focusing on providing expertise in tax-exempt bond issuances and equipment financings.

Work Details
The selected firm(s) will provide a wide range of municipal advisory services including:

1) Assisting CEFA in reviewing underwriter spread components and costs;
2) Evaluating financing structures and making recommendations;
3) Providing independent market comparables;
4) Participating in pre-pricing discussions;
5) Reviewing pricing of securities in escrow funds;
6) Assisting with bond allocations;
7) Preparing post-sale evaluations;
8) Reviewing CEFA's outstanding bond portfolio for potential refundings;
9) Marketing strategies to increase CEFA's business;
10) Adhering to conflict of interest laws; and
11) Being available for consultations during business hours.

Additional projects may include analysis on tax-exempt debt markets, training CEFA staff, creating new financing programs, and conducting comprehensive studies on fees paid by issuers.

Period of Performance
The contract term is anticipated to be three years, starting from July 1, 2025, or upon approval by the Department of General Services. The fiscal years covered will end on June 30, 2026, June 30, 2027, and June 30, 2028.

Place of Performance
Services will primarily be performed at the California Educational Facilities Authority office located at 901 P Street, Room 313, Sacramento, CA.

Bidder Requirements
Firms must be on the State Treasurer’s Office Municipal Advisor Pool list at the proposal due date. They must have an established office in California and be qualified to do business in the state. Additionally, firms must have at least two years of experience as a municipal advisor to a statewide issuer of bonds and must not provide underwriting or investment banking services. Firms must also be registered as a Municipal Advisor with both the Municipal Securities Rulemaking Board and the Securities and Exchange Commission.