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C - 21 City of Pleasanton Operating Budget • FY 2023/24 - FY 2024/25 APPENDIX C The Director of Finance or designee may use the Request for Proposal (RFP) process to select various Financing Team Members. Below is a brief description of the main Financing Team, along with their functions, and the mandated frequency of soliciting RFP’s. The typical Debt Financing Team consists of: Financial Advisor: • Assists with capital planning and long-term financial planning • Coordinates the financing and debt issuance process • Helps evaluate underwriter proposals and provides financial analysis and recommendations • Assists with the securing of other professional services and other members of the financing team • Monitors and evaluates market conditions for opportunities to issue debt at low interest rates • Works with the City and Underwriter to develop investor outreach and market approach • Manages competitive bid process • Ensures negotiated prices are “fair” and reasonable in the marketplace Requests for Proposals for Financial Advisors should be done on a periodic basis not to exceed ten (10) years but is subject to review after four years. Bond Counsel: • Prepare an approving legal opinion • Provide expert and objective legal opinion and advice • Prepare and review documents necessary to authorize, issue sale and delivery of the bonds, as well as coordination of the authorization and execution of closing documents • Review legal issues relating to the structure of the bond issue • Prepare election proceedings or pursue validation proceedings if necessary • Review or prepare those sections of the official statement that relate to the Bonds, financing documents, bond counsel opinion, and tax exemption • Assist the City in presenting information to bond rating organizations and credit enhancement providers relating to legal issues affecting the issuance of the Bonds • Review or prepare the Notice of Sale of Bond Purchase Contract for the Bonds and review or draft the continuing disclosure undertaking of the City • Post-issuance advice for bond covenant compliance Requests for Proposals for Bond Counsel should be done on a periodic basis not to exceed ten (10) years but is subject to review after four years. Underwriter: • Provide the City with market knowledge • Assist with credit analysis and preparation • Premarketing of the Bonds • Pricing and Sale of Bonds • Trading of the Bonds Underwriter services should be solicited through a Request for Proposal (RFP) for every bond issue, or by developing a pool of pre-qualified underwriters from which to select.