Awarded vendors
- Cumberland Securities Company, Inc.
Description
The City of Johnson City is seeking a qualified municipal‑financial‑advisor to provide comprehensive debt‑management, bond‑sale, and related fiduciary services for its $222 million combined general‑obligation and proprietary‑fund debt portfolio. The advisor will maintain the city’s long‑range financial plan, develop debt‑limit policies, assist in structuring and marketing bond issuances, prepare documentation, evaluate underwriter bids, and represent the city at rating‑agency interviews and public hearings. Compensation will be negotiated on a retainer or fee‑for‑service basis after award, and the contract runs for an initial three‑year term with two optional one‑year extensions.
• Scope includes debt‑policy advice, bond‑sale support, and presentation at public hearings.
• Requires extensive insurance coverage, conflict‑of‑interest disclosures, and compliance with Tennessee statutes and MSRB fiduciary rules.
• Open competition attracted at least two qualified firms; Cumberland Securities Company, Inc. was selected as the awardee.