Municipal Advisor Services for Water Debt Refunding

The City of South Pasadena, California, is seeking a municipal advisor to guide the government authority through the process of water debt refunding. The agency needs to evaluate interest rate conditions, project refunding savings, and determine the most appropriate transaction structure for its bonds. This initiative aims to optimize the city's financial position by identifying the best timing, structure, and procurement methods for its water enterprise debt. The scope of work requires the selected advisor to conduct preliminary market assessments and feasibility analyses, including evaluating negotiated versus competitive sales and fixed versus variable rates. The advisor must coordinate the procurement of the financing team by soliciting and evaluating bids for both bond counsel and underwriters. Additionally, the advisor will manage the transaction timeline, review all official transaction documents to protect the city's financial interests, and provide ongoing market monitoring to advise on the optimal pricing timing. Eligible bidders must be onshore organizations located within the United States. The agency requires the selected advisor to perform all work offsite at the advisor's own office premises. The city has not disclosed a specific budget and is looking for proposals to determine the cost of these services. Bidders must submit all questions regarding this opportunity no later than June 15, 2026.