In our capacity as Financial Advisor to Surry County, Virginia (the “County”), Davenport & Company LLC (“Davenport”) is issuing this Request for Proposals (the “RFP”) on behalf of the County to solicit proposals for interim financing in the form of a Tax-Exempt Lease Revenue Financing (the “2025 Financing”). The 2025 Financing is to be issued by the County in an amount up to $3,000,000 or $5,000,000*. The 2025 Financing is intended to provide interim funding for the initial costs related to the planning, design, and construction of the County’s YMCA recreational facility; and pay the costs of issuance associated with the 2025 Financing. The 2025 Financing will not carry the general obligation pledge of the County or any other political subdivision of the Commonwealth of Virginia. Payments on the 2025 Financing will be subject to annual appropriation by the County Board of Supervisors. This RFP contemplates either full funding at closing or a draw-down/advancement facility. The County expects to redeem this interim financing on or before its stated maturity. The County reserves the right to reject any or all proposals, to waive irregularities in any proposal, and to negotiate with any proposing institution. Requests for additional information should be directed to Davenport per the contact information contained herein.
