I. Purpose

The Town of Troy is seeking proposals from qualified firms to provide municipal financial advisory services, including but not limited to debt issuance support and long-term financial planning.  One contract will be awarded for all the services outlined below. The initial contract term will be for fiscal years 2025-2029, with an option for a five-year extension upon mutual agreement.

II. Background

The Town of Troy has never borrowed funds to support municipal projects.  With upcoming potential projects including Road construction, Fire Sub-Station Construction, Town Hall Expansion and Renovation, and a Public Works building expansion, the Town foresees the likelihood borrowing funds.

A qualified municipal financial advisor is sought to assist in maintaining the Town with debt issuance support and enhancing long-range planning efforts.

III. Scope of Services

Debt Issuance and Ongoing Municipal Advisory Services

• Assist with planning, timing, and structuring of debt issues.
• Prepare or assist in preparing Preliminary and Final Official Statements.
• Coordinate bond rating presentations.
• Conduct bond sale and closing activities.
• Support the Town in meeting continuing disclosure requirements, including filing through EMMA.

Financial Planning and Debt Management

• Develop long-term debt service projections and key financial indicators.
• Analyze financing alternatives for capital projects.
• Provide policy guidance on municipal debt capacity and affordability.
• Arbitrage Monitoring and Compliance
• Monitoring Debt Refinancing Opportunities

IV. Proposal Content and Format

Limit proposals to 20 pages. Each proposal should include:

1. Transmittal Information Firm’s name, address, contact information. Statement of understanding and commitment.
2. Personnel Experience Names, roles, certifications, and relevant experience of key staff.
3. Firm Qualifications Background and experience. Approach to financial modeling and assumption communication. Description of objectivity and independence in advisory services.
4. References Three municipal references from similar communities with contact details.
5. Cost Proposal Include a detailed cost sheet (see Attachment A).
6. Contract and Insurance Provide a sample contract and certificate of insurance.

 

V. Selection Criteria

Proposals will be evaluated based on:

1. Quality and responsiveness. (20%)
2. Experience and qualifications. (25%)
3. Understanding the Town’s needs. (10%)
4. Approach to providing objective financial advice. (20%)
5. Cost. (25%)

 

VI. Submission Instructions

Submit one (1) digital copy and nine (9) hard copies of your proposal by July 14^th, 2025 to:

David Carlson, Administrator

Town of Troy

654 Glover Road

Hudson, WI 54016

[email protected]

 

1. Timeline For Submission Review and Award.

The following is the anticipated schedule for the RFP process. The Town reserves the right to adjust the timeline as necessary. Questions may be asked anytime between June 20^th and July 7^th.

 

Milestone	Date
RFP Release Date	June 20th, 2025
Proposal Submission Deadline	July 7th, 2025
Evaluation of Proposals	July 7th – July 14th
Town Board Review and Potential Selection	July 17th
Interviews with Finalists (If Desired by Town)	Week of July 21
Contract Start Date	September 1st, 2025

 

1. General Conditions
   • The Town reserves the right to reject any or all proposals and to waive informalities or technicalities.
   • The Consultant must comply with all applicable federal, state, and local laws including nondiscrimination provisions.
   • All costs associated with the preparation and submission of the proposal shall be borne solely by the respondent.
   • Any contract resulting from this RFP will be subject to Town Board approval.

 

Attachment A

NOTE:             The proposer guarantees these rates until _____________.

Please complete the table that applies to your proposal: Be sure to indicate if the fee is:

1. Included in Financial Advisor Fee
2. Direct billed from third party, not part of this bid
3. Is a separate estimated or fixed cost
4. Estimated or Firm Fix Cost

 

Description of Items	Fee	Description of Terms
Financial Advisor Fees
Bond Insurance Credit Enhancement if needed
Bond Rating Agency Fees
Bond Rating Travel Costs
Printing and Distribution
Out-of-Pocket costs such as meeting attendance, conference calls, postage, etc.
Closing documents compilation and distribution
Funds delivery
Ongoing monitoring for refunding opportunities
Continuing disclosure
Post closure calls with questions
Arbitrage rebate calculations and filing guidance
Other – please describe
Total

 

Please elaborate on how your fee would change if staged financing is done, such as bond/note anticipation notes, issues over multiple calendar years to take advantage of bank qualified rates, etc.