Summary of Specifications:
Grand Traverse County is seeking proposals from qualified firms to provide bond counsel services for all County bond issues for a three (3) year period. Grand Traverse County has issued $945,000 in bonds over the last two years. Bonds include County projects as well as sewer and water projects on behalf of local units of government through the Board of Public Works. Bonds are sold for local units of government under the County’s full faith and credit and with the precondition of using the County’s bond counsel and financial consultant. The following specific tasks will be conducted for each County bond issue over the next three (3) years: Task 1: Resolution, Ordinance and Document Preparation Prepare all resolutions necessary for the bond issuance, including the bond issuance resolution, prepare all ordinances necessary for the bond issuance, project implementation, or for revenue imposition, and prepare all certificates, reports and other documents necessary for bond issuance, sale and delivery. Task 2: Local Assistance If required, attend all meetings of the County Board of Commissioners, BPW, and/or Building Authority and meetings of the county officers, as requested, in conjunction with the bond issuances, sale, and delivery. Provide a cost per meeting. Task 3: Insurance Procurement Assist the County in obtaining bond insurance, if such insurance is considered necessary. Task 4: Bond Issuance Assistance Assist the County in the following three areas: 1) Review of an Official Statement or other sales information prepared by the financial consultant; 2) Identify the most advantageous market conditions for bond sale; and 3) Cooperate with County officials and any financial advisor with regard to bond issuance, sale and delivery. Task 5: Legal Consultation Provide legal advice and consultation on all matters relating to bond authorization, issuance, sale and delivery. Provide such legal opinions as may be required, including bond opinion of the legal tax exempt status of the bonds. Task 6: Bond Sale Consult with County officials to determine the most advantageous way to sell the bonds either to the Michigan Municipal Bond Authority or directly to the public market. Task 7: Refunding issues: Consult with the County officials on an annual basis to review outstanding bond issues for possible refunding as market conditions warrant.
