Specifications include, but are not limited to:. The selected lead underwriter will work closely with the MSU administration, its financial advisor, bond counsel and disclosure counsel, from time-to-time as requested, to evaluate and structure new and, if appropriate, refunding issues for the benefit of MSU. While providing structuring input, the lead underwriter will keep MSU administration informed as to current bond market conditions including interest rate trends and generally advise MSU administration on optimal timing of potential issuances. Once a bond issue is imminent, the selected lead underwriter will be expected to participate as a working group member to prepare any and all necessary rating agency and bond insurance credit assessment and presentations, review and comment on all necessary legal documents including supplemental bond indenture(s), official statement(s) and authorizing resolution(s) of the Board of Regents. The selected lead underwriter will prepare and execute a marketing and distribution plan for the subject bond issue with the objective of MSU obtaining the lowest financing costs available in the determined timeframe of issuance. Reasonably maximizing distribution of MSU bonds to Montana residents is also an identified objective. At the time of marketing and pricing, the lead underwriter is expected to make a firm offer to purchase all the offered bonds under the terms and conditions set forth in the official statement at the most advantageous prices possible for MSU. Subsequent to acceptance of this offer by MSU, the lead underwriter will continue working with the working group to conclude the issuance process including paying for and taking delivery of the issued bonds on the date of closing as mutually agreed upon. During periods when no bond issuances are being evaluated or executed, the lead underwriter is expected to be both available upon request and proactive in advising MSU on current and forecasted market conditions, changes and trends in higher education finance, and identification and explanation of creative and innovative financing techniques and methods that may be beneficial to MSU. The lead underwriter is anticipated to become a cooperating and contributing team member for relative to the ongoing management and oversight of MSU’s outstanding indebtedness and opportunities to improve such. Between transactions, the contractor will provide services including but not necessarily limited to the following: Collaborating with the University’s Financial Advisor, assist with development and annual review of basic policies/plans. Review of University short and long term goals. Meeting with University leadership quarterly to review variable rate debt and the overall funding environment. Capital Plan Debt Policy. Risk Tolerance Policy. Develop and maintain annual credit summaries. Maintain record of rating history. Catalogue positive and negative features. Provide analytical comparison of peers. Maintain and pursue a rating strategy.
