Specifications include, but are not limited to: The University invites you to submit a proposal to be responsible for all duties and services necessary or advisable to facilitate the issuance of bonds, notes, and commercial paper including the possible refunding of bonds and escrow restructures of previously defeased bonds, if applicable, based on market opportunities. Evaluation of refunding opportunities presented to the System and developing management strategies for the conduct of the debt program requires a close working relationship with the Financial Advisor. Also, the Financial Advisor will be responsible for advising the System as related to arbitrage issues as well as performing necessary arbitrage calculations. The System requires, continuing disclosure monitoring and submissions, annual arbitrage rebate calculations on the applicable bond issues in order to monitor its potential liability. The selected Financial Advisor will perform the services as more fully described in Section V of the RFP.