Specifications include, but are not limited to:. The State seeks independent financial advisory services to serve the sole interests of the Issuers. Joint proposals from two or more firms will be considered. The selected firm or firms are precluded from acting as an underwriter or agent on any financing arranged by the Issuers. The firm or firms will agree that the contract may be terminated at any time with or without cause. The State’s financial advisors will be expected to assist the Issuers in structuring a debt portfolio with the lowest cost of capital possible within the confines of State and federal law and will provide support for ongoing debt management. Assistance and support includes, but is not limited to the following: 1. Examine, evaluate and formulate fiscally sound and flexible financing programs that take in to consideration the Issuer’s objectives, existing debt structures, timing of capital projects, tax regulations, and the climate in the capital markets. In addition, consider the effective utilization of operating reserves, state appropriations, federal funds and subsidies and other resources available to the Issuers. 2. Assist in the preparation of special studies, including review of debt capacity and the formulation of related debt policies.
