Title: Request for Information

Deadline: 6/16/2021 5:00 PM   (UTC-05:00) Eastern Time (US & Canada)

Status: Awarded

Quote Number: RFI

Description:

The Beaufort County School District (“District”) is inviting your firm to submit information to perform financial advisor services.  The District expressly reserves the right to select a firm that in their opinion will best serve the needs and interests of the District

Scope of Services

The BCSD invites all qualified firms to provide supplies, equipment and services for the Financial Advisor Services Contract, complying with the enclosed description and/or specifications and conditions for the Beaufort County School District. The following minimum requirements must be met to be considered for this engagement:

The District is desiring financial advisory services to determine, analyze, and recommend options               regarding a capital needs financing plan which is both financially sound and mindful of the impact      on the District’s taxpayers.

b)            The Provider shall evaluate capital funding alternatives, develop and recommend a financial plan                 including advice on debt structuring or restructuring.  It shall be the responsibility of the Provider               to continually monitor the market to determine when, and if, refinancing of existing debt is                favorable and advise the District of such determination.

c)            The Provider shall assist in the planning and structuring of bond issues and assist with obtaining required authorizations, including referenda, as well as assist the District’s bond counsel in              preparing the bond resolution for placement on the agenda of the Beaufort County Board of     Education, and the resolution authorizing the bond/tax anticipation notes.

d)            The Provider shall provide advice on method of sale and recommend timing of bonds.

e)            The Provider shall identify tasks, responsibilities, and dates for completing activities leading up to              debt origination and issuance.

f)             The Provider shall design a debt structure, provide advice on approach to ratings and conduct      rating presentations and follow-up.  The provider will assist in communicating with bond rating                agencies in an effort to maximize the district’s bond rating.

g)            The Provider shall assist the District’s bond counsel in the production of documents, including      preliminary and final official statements, printing of same, disclosure statements, bond sale documents and other relevant financing documents.

h)            The Provider shall assist the bond counsel, as needed, and review bond counsel’s legal opinion.

i)             The Provider shall conduct pre-marketing of bond issue, coordinate distribution of offering           documents to prospective bidders, evaluate bids including accuracy, and recommend award.

j)             The Provider shall assist with closing arrangements and provide advice related to compliance with                 arbitrage regulations.

k)            The Provider shall advise in the development of debt limits, debt service coverage ratios, reserve               funds or other debt policies, as needed.

l)             The Provider shall assist in procurement and negotiation of credit support mechanisms, as            needed, identify policy issues and direction(s) related to effective management of the District’s    capital improvement program.

m)          The Provider shall give advice on tax exempt lease/purchase transaction options or other such     financial matters as may be required by the District.

n)            The Provider shall provide guidance on arbitrage and rebate management as may be required by                the District.

o)            The Provider shall undertake assignments regarding debt financing including, but not limited to, budget, tax, cash management issues and related aspects of the District’s financial management         program as may be required by the District.

p)            The Provider shall manage communications to and from the County Auditor relating to the School’s District’s debt service millage requirements.         

q)            The Provider shall perform all other such duties and services customarily and usually performed by a financial advisor with respect to the services outlined in this Article or at the request of the             District.

r)             The District’s 2020-2021 comprehensive budget includes disbursements of $488,969,892               and a payroll for approximately 2,850 employees, including 1,770 teachers.

s)            Beaufort County voters approved a $344 million referendum in November 2019 and is in the process of determining further facility needs of its student population.  The District is anticipating a second referendum in 2023 with estimated capital needs of approximately $300 million, which includes new facilities and facilities renovations. 

Information Requested About Your Firm

The selected firm will be required to provide the following information:

·         A business or executive summary of the firm.

• Experience of the firm with financings of the issuer or comparable issuers, and financings of similar size, types and structures, including financings in the South Carolina.
• Relationships or activities that might present a conflict of interest for the issuer.

·         The firm’s number of years of relevant experience in financial advisory services.

• The name of the financial advisor who will specifically provide the services.  Resume(s) including relevant experience for each person to be assigned as a financial advisor should also be included.
• The names and addresses of Districts for which your firm successfully provided financial advisor services over the last five years that are believed to be comparable to the Beaufort County School District (minimum of 3).

The financial advisor individual/firm must provide assurance of legal certification and willingness of the selected candidate to assume the position and to accept the fee schedule negotiated.  The candidate selected will be expected to assume the position no later than July 1, 2021.

Documents:

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