Specifications include, but are not limited to: At those times when the County chooses to utilize the various types of financings available, the Underwriter(s) selected to an Underwriting Syndicate, either from the Underwriting Pool or selected by the County at its discretion, will be required to provide professional services and perform the duties normally expected of such firms, which are generally described below. A. Senior Manager The services to be provided by a Senior Managing Underwriter shall include, but not be limited to the following: 1. Assist in developing the structure and overall marketing strategy on a financing transaction to which the Underwriter(s) has been assigned along with the County, Financial Advisors, and Bond Counsel. 2. Manage the underwriting team assigned by the County and coordinate with the County, Financial Advisors, Bond Counsel, Rating Agencies, Trustees, and other professionals involved with the transaction. 3. Assist in the preparation of a Preliminary Official Statement and a Final Official Statement containing official data and other information of the nature and to the extent ordinarily required in the sale of obligations, all of which is to be furnished to prospective purchasers. 4. Advise the County of current bond market conditions, forthcoming and comparable bond issues, and other economic data and general information which might have an impact on interest rates or market(ing) conditions, so that the date for the sale of any obligations in the open market can be set at a time that is viewed to be the most favorable for the County. 5. Collect price views from Co-Managing Underwriters and coordinate conference calls and various other communications with the County and its Financial Advisors, including but not limited to market updates and pre-pricing calls. 6. Assist the County with the sale and delivery of bonds and/or certificates, or other debt instruments. 7. Prepare a post pricing book summarizing the market conditions, order, and allotments of bonds and terms of final sale. 8. Direct Underwriter’s Counsel on matters to comply with various policies and/or directives as prescribed by the County and with Financial Advisors, Bond Counsel, and others necessary to comply with federal, state and local requirements associated with various documents developed as part of any financing. 9. Provide the County and Financial Advisors with any other information deemed necessary, including post-pricing monitoring of trades, calculations associated with make-whole call provisions, and other related financial calculations as the County deems necessary. RFQ Event #1077 - Financial Underwriting Services Page 5 of 9 10. In the event a Co-Senior Manager is chosen it will be expected that both Senior Managers will work together in an effective and professional manner so that the transaction is viewed to be the most favorable for the County. B. Co-Managing Underwriter The services to be provided by a Co-Managing Underwriter shall include, but not be limited to the following: 1. Assist the Senior Managing Underwriter in providing the primary and secondary market support in the form of market orders based on the priority of orders for the County’s financing transaction. 2. Assist the Senior Managing Underwriter in providing analyses of market conditions and advise the County with regard to market timing and development of a marketing plan for the bonds. 3. Assist the County with the sale and delivery of bonds and/or certificates, or other debt instruments. C. Other Services Other services to be provided by the firms in the Financial Underwriting Pool include services related to the possible issuance of variable rate debt, commercial paper, and any other underwriting service.
