3.1. Minimum Requirements H-GAC will only accept proposals from financial institutions which meet all of the following: A. Must be registered/qualified to do business in the State of Texas and provide a copy of such registration/application to H-GAC with the response submission. B. Must have a minimum of five (5) years’ experience providing services of the type described in the scope of services. Respondent must provide an affirmative statement and/or documentary proof of such experience with the response submission. C. Must have a Long-term Senior Debt rating no lower than the lowest “A” category (A3 from Moody’s; A- from S&P; A- from Fitch) from at least two of the three rating agencies stated, for a minimum amount of $1 million up to the entire amount of $10 million. 3.2. Provide a Line of Credit A. Establish a revolving line of credit in the amount of $10,000,000, with an option to adjust based on need, financial strength, and consent from H-GAC's governing Board. B. Offer a competitive interest rate, either fixed or variable with clearly defined terms. C. Structure a flexible repayment plan that aligns with H-GAC’s cash flow cycles. 3.3. Terms and Conditions A. Define collateral requirements, if applicable. B. Specify any fees, including origination fees, administrative costs and penalties for early repayment, or other conditions. C. Outline reporting documentation requirements. D. Allow for electronic funds transfers and online account management. 3.4. Loan Administration and Customer Service A. Assign a dedicated representative to assist with loan administration. B. Provide customer support for inquiries, transactions and reporting. C. Ensure transparency in billing, interest accrual, and repayment schedules. 3.5. Compliance and Legal Considerations A. Ensure compliance with federal, state and local regulations applicable to public sector borrowing. B. Provide required disclosures and documentation.
