Request For Proposals for Financial Advisory Services February 17, 2021
Notice is hereby given, that Wasatch Fire District is requesting proposals from qualified firms to provide financial advisory services to Wasatch Fire District pertaining to any and all bond transactions or other financings over the terms of the contract.
This RFP is effective February 17, 2021 and final proposals are due by Wednesday March 3, 2021 no later than 12:00 pm mountain time. It is anticipated that the selection process will take less than five business days to complete. If you have any questions, please contact Kristen at firstname.lastname@example.org or 435-940-9636 (email preferred).
- Purpose. The purpose of this Request for Proposal (RFP), including attachments, is to solicit proposals from qualified firms to enable Wasatch Fire District (WFD) to select a financial advisory service pertaining to any and all bond or similar transactions. This RFP is part of a competitive procurement process which is intended to serve the best interests of the District and the citizens it serves. It also provides each qualified firm responding to this RFP with a fair opportunity for its services to be considered. WFD anticipates entering into a relationship with the successful respondent, the firm selected will be expected to provide financial advisory services to WFD over the term of the contract.
- Scope. This RFP explains WFD’s requirements and requests information regarding the products, prices, and expected delivery schedule that your company can provide to satisfy WFD’s need for financial advisory services. This RFP does not constitute an offer to contract, but rather seeks to establish a common framework within which an agreement may be reached with the successful respondent. The financial advisor shall provide advice and assistance regarding the fiscal and other matters that are preliminary to the incurrence of deb (bonds) by the District, provide advice and assistance on the structuring/ issuance/ method of sale/ notes/loans and other forms of debt being considered by the District. The financial advisor shall also provide information on current methods available for financing the construction of facilities, provide information about fixed income market conditions/interest rates/ and revenues available as well as other bond market and financial information requested by the District. Other duties of the financial advisor may be: provide advice on placement of debt including acting as an information agent for the District in communications with prospective purchasers of bonds/notes/loans, prepared detailed numerical analysis of cost savings and benefits, extend services as necessary to insure that all projects are brought to a successful conclusion on behalf of the District in a professional manner, and engage in any services as assigned or negotiated.
- Company Overview. WFD is a Fire Protection Special Service District located in Wasatch County, Utah. WFD provides for all fire protection, suppression and inspection services for all citizens and properties located within the boundaries of Wasatch County, Utah as well as EMS and Hazmat services. WFD was created by Wasatch County, but operates as a separate entity. WFD operates from a General Fund using property taxes collected by Wasatch County. WFD also has 3 additional funds: 1) an impact fee fund, the impact fees are collected by the district, 2) a Capital Project fund, and 3) Reserve fund, to handle employee cash outs upon retirement.
1. Legal Status. This RFP does not constitute, and should not be interpreted as, a legal contract between WFD and any bidder. The submission of a proposal to WFD, and subsequent evaluation of that proposal by WFD, does not constitute any kind of legal contract, even if all the required functions and features stated in the RFP are fully met.
- Role of RFP. WFD reserves the right to accept or reject any and all proposals, and to waive any formality or technicality in any proposal, and to enter into discussions and/or negotiations with more than one qualified supplier at the same time.
- RFP Costs. Any and all expenses incurred by a bidder in connection with its proposal and any interviews, presentations, discussions, or negotiations related thereto shall be borne solely by bidder. All submittals shall be the property of WFD.
- WFD reserves the right to revise the RFP document prior to the date set for receipt of proposals. WFD will announce any such revisions, which shall become part of the RFP. WFD will furnish copies of any addendum to all prospective bidders who have timely indicated in a Proposal Response Letter that they will submit a proposal.
- Before submitting a proposal, bidder should ascertain all of the project conditions and requirements. Failure to take this precaution will not release the successful bidder from performing the work in strict compliance with the terms of the contract. If, in the judgment of bidder, any item in this document is unclear or ambiguous, bidder understands and agrees that it has an affirmative duty to ask questions and request clarification. Bidder should contact Kristen at email@example.com or (435) 940-9636 for clarification of any aspects of the RFP.
- Submission Format and Time Frame.
Proposals must be submitted as two separate documents: a Quality Proposal (with no pricing information), and a Price Proposal.
- Your proposal can be mailed to:
Wasatch Fire District
10420 N. Jordanelle Blvd.
Heber City, Utah 84032
**if the Proposal Documents are submitted by mail they must be submitted in sealed format
Or emailed to:
- The proposal must be received by Wednesday March 3, 2021 no later than 12:00 p.m.
` No oral or telephone bids will be considered. It is the responsibility of the bidder to see that its proposal is received by the stated proposal due date. Any proposal received after the stated due date may be rejected. Any request for an extension to the deadline must be made in writing, submitted 48 hours prior to the proposal due date, stating the reason for the requested extension. Any extension granted shall be solely at the discretion of WFD. If WFD grants an extension to one bidder, WFD shall extend the same extension to all bidders. All submissions must be in English, and all prices in US Dollars. Responses should be as precise as possible. Supporting information expanding upon specific responses may be provided, in the form of an addendum to the main submission. Bidders are invited to identify the strengths and attributes of their company, product, strategy, or vision that best qualifies them to meet this RFP. WFD reserves the right to reject any responses that fail to comply with the stated format.
- Invoice Payment Terms. WFD requires payment terms of net 30, and those terms will be considered accepted by the bidder unless specifically addressed in bidder’s response to the RFP.
- Proposals will be evaluated and ranked by WFD. Upon completion of WFD’s evaluation, each bidder will be informed of the status of its response. At bidder’s sole expense, bidder may be asked to attend a meeting in Heber City (or via zoom) to answer specific questions regarding its proposal, provide a presentation, and demonstrate its product and services.
- Bid criteria will be based on: past experience in providing similar services, availability, price, and vendor reputation and stability.
Bidders Response Criteria
Proposals should be submitted in two separate files: a Quality Proposal and a Price Proposal
Quality Proposals should address the following issues:
- Financial Stability. Provide your company’s profile (e.g., annual report detailing background, financial reports, management experience and tenure, profitability, etc.) or provide web link.
- Company Locations. Indicate your company’s locations that would be able to provide on going support services to WFD
- Advisory Function. Identify how your company proposes to perform WFD’s financial advisory needs. Describe your experience in providing such services.
- Safety. WFD is committed to safety. That includes the safety of employees, vendors, contractors and the general public. The successful bidder must commit to adhering and upholding the highest safety standards.
- References. Each bidder shall provide a list of four major customers/users or alliance relationships, including contact individuals, company names, addresses, and phone numbers.
- Conflict of Interest– A statement indicating whether the responder has any potential conflict of interest that would affect the ability to fairly represent the District. If there are conflicts of interest the respondent shall provide the names of the individuals or entities involved, the nature of the conflict and the steps the responder will take to avoid conflicts
- Effective Management of WFD’s Account. Give detailed information concerning your ability to provide the following:
- A dedicated account manager to respond to questions etc.
- Understanding of the intent and implications of the Dodd-Frank Wall Street Reform and Consumer Protection Act as it pertains to the bond industry.
As noted above, the Price Proposal must be submitted as a separate file.
- Pricing. The Price Proposal must set forth the prices Bidder will charge for the financial advisory services to be provided hereunder.