Minnesota Management & Budget

Notice of a Request for Proposal for Underwriting Services related to the issuance of State Appropriation Bonds used to finance the public sector share of a Professional Football Stadium by the State of Minnesota The Department of Management and Budget is seeking proposals from financial institutions to provide underwriting services related to the issuance of bonds to secure up to approximately $498,000,000 in net proceeds to (i) provide financing of a portion of the costs of acquisition, construction, improving and equipping of the stadium project (the Project) of the Minnesota Sports Facilities Authority (the Authority) as provided by Minnesota Statutes, Chapter 473J, to be located in the City of Minneapolis, Minnesota, and (ii) to fund the payment of capitalized interest on such bonds and the payment of issuance costs relating to such bonds. The purpose of this procurement is to solicit proposals to establish a pool of firms to serve as qualified senior managing underwriters and/or co-managing underwriters in connection with the issuance of fixed rate appropriation bonds of the State. From the responses received from this Request for Proposal (RFP), the State will create a pool of underwriters to assist with one or more of these transactions as or if needed to fund the Project through June 30, 2017.
An electronic copy of the Request for Proposal is available on the MMB website of http://www.mmb.state.mn.us/ or by contacting Jessica Cameron Mitchell of Public Financial Management, Inc., the States financial advisor for this transaction at cameronj@pfm.com .

NOTE: Details concerning submission requirements, including due dates are included in the Request for Proposal. No other personnel other than Ms. Mitchell are authorized to discuss the project with responder before the submittal of the RFP Response.

Upon issuance of the Request for Proposal for the Underwriting pool, until notification of the results of the RFP process, proposers should only direct questions to Ms. Mitchell at PFM.

Deadline for submission of the RFP Response is no later than 4:30 PM, CDT Wednesday, October 9, 2013. By the issuance of this Request for Proposal (RFP), the State is not obligating itself to issue the appropriation bonds or to complete a negotiated bond transaction as contemplated in this notice. The State reserves the right to cancel this solicitation. All expenses incurred in responding to this notice are solely the responsibility of the responder.