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Awarded contract·Barnegat Township·New Jersey

Bond Counsel

Won by Gluckwalth LLP$45kSingle Award
Contract source

Awarded vendors

  • Gluckwalth LLP

Description

This agreement is a fixed‑price/fee contract between Barnegat Township (NJ) and Gluckwalth LLP for comprehensive municipal bond‑counsel services. Gluckwalth LLP will prepare and review bond ordinances, draft resolutions, coordinate bond‑sale documentation, attend bond sales, provide regulatory advice (federal arbitrage, SEC Rule 15c2‑12), and deliver post‑issuance tax‑compliance procedures. Fees are structured as a $3,500 base plus $1 per $1,000 of bonds issued, $400‑$600 per ordinance, and hourly rates ranging from $80 to $275 for additional work. The contract runs for one year from the (unspecified) effective date and contains extensive non‑discrimination and affirmative‑action reporting obligations. No competitive bidding, award, or renewal language is present, indicating a sole‑source, single‑award arrangement. • Scope covers full lifecycle of municipal bond issuance (ordinance, sale, closing, post‑issuance compliance). • Fee schedule combines flat fees, per‑bond fees, and hourly rates, with a $12,500 fee for refunding‑bond escrow services. • Vendor must comply with NJ non‑discrimination statutes and report to the township’s Affirmative Action Office.

Attached files

Key dates

Duration
1 year

Last updated

Details

Award type
Single Award
Procurement
Sole Source
Industry
Legal Services
NAICS
541110

Contract value

$45,000

The agreement does not state a total dollar amount. Estimating based on typical municipal bond‑counsel fees: a base $3,500 fee plus $1 per $1,000 of bonds. Assuming Barnegat issues a modest $10 million bond, the per‑bond fee would be $10,000, totaling $13,500. Adding likely ordinance work ($400‑$600), a refunding‑bond escrow fee ($12,500), and a handful of hourly‑rate services (e.g., 20 hours at $225 = $4,500), the annual spend would be roughly $30,000‑$50,000. A conservative ball‑park estimate of $45,000 is reasonable for budgeting purposes.

AI estimate from the award documents

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