Description
The City of Salem is seeking proposals for Independent Registered Municipal Advisor (IRMA) services to assist the Finance Department in financial analysis, structure, and placement of debt-financed projects. The selected IRMA will provide services including advising on general market conditions, reviewing existing revenue sources, and assisting in acquiring financing for capital projects. The contract term will be for 10 years, with an initial term of 1 year and 9 optional 1-year extensions. Proposers must meet minimum qualifications, including being an IRMA as defined by the SEC, registered in the State of Oregon, and having experience in municipal advisory services.
• The IRMA will serve solely the interests of the City of Salem and/or the Urban Renewal Agency of the City of Salem.
• The IRMA will assist in the preparation and circulation of requests for proposals to potential purchasers of bonds or other debt obligations.
• The IRMA will meet with council/board members, bond counsel, and others as appropriate to review financing options and discuss potential financing arrangements.
• The IRMA will represent the City or URA in meetings with underwriters, bond counsel, or other entities associated with the City or URA debt.
• The IRMA will prepare credit profiles and assist in making presentations to rating agencies, bond insurance companies, financial institutions, and investors.