Municipal Advisor Services for Water Debt Refunding

The City of South Pasadena, California, is seeking a municipal advisor to guide the government authority through a water debt refunding process. The agency aims to optimize its financial position by assessing current market interest rates and identifying projected refunding savings for its bonds. This initiative requires evaluating transaction structures, selecting between current or advance refunding, choosing between negotiated or competitive sales, and determining fixed-rate versus variable-rate options. The selected advisor must identify optimal call or settlement dates while navigating constraints within existing bond indentures, continuing disclosure agreements, and IRS tax certificates. The scope of work includes coordinating the financing team by soliciting and evaluating qualifications for both bond counsel and underwriters. The advisor will also develop transaction timelines, review key legal and financial documents to protect the city's interests, and monitor the market to advise on the optimal timing for pricing the bonds. Eligible bidders must be onshore organizations based entirely in the United States. The agency requires the advisor to perform all work offsite at the advisor's own office premises. The city has not disclosed a specific budget and is currently looking for proposals to establish pricing. Bidders must submit all questions regarding this opportunity no later than June 15, 2026.