Request For Proposals (“RFP”) For Underwriters

PROPOSALS DUE JULY 28, 2025

Request For Proposals (“RFP”) For Underwriters

PROPOSALS DUE _JULY 28 2025___

The City of Fishers (“City”), Hamilton County, Indiana has strategically focused for the past fifteen (15) years on building a City where residents work, live, and play. The City’s development efforts have focused on entrepreneurship, creating a variety of living options that meet the ever-changing demands for all ages of life, and providing amenities that allow residents easy access without large drive times while also attracting visitors to the City. While the City has grown its population, private investment, and visitors, the City remains dedicated to providing spaces where residents can gather, interact, and enjoy physical and recreational activities. Accordingly, the City has designed and is constructing a world-class indoor, multi-generational community center that serves all residents, including, without limitation, providing spaces and programs for residents of all ages and those living with disabilities.

On January 23, 2024, the City approved a Public-Private Agreement for The Design, Build, and Transfer of the City’s Community Center (as amended, the “BOT”). This RFP solicits proposals from Underwriting Firms/Banks (“Firm”) to provide underwriting services to the City for an upcoming bond issuance related to the Community Center.

The City is anticipating issuing bonds, in one or more series, for the purpose of providing funds to (i) purchase the Community Center pursuant to the terms of the BOT and (ii) pay the costs of issuance.

If your firm is interested in serving as underwriter of this bond, please submit a written proposal in electronic format by five (5) p.m. local time on July 28, 2025 responding to the below items.

1. Relevant experience of the firm and individuals assigned to the issue, including both investment banking and underwriting personnel, particularly as it relates to (i) Indiana underwriting experience and (ii) experience with transactions between $ Fifty (50) million and $ Seventy-five (75) million. Please include contact information for three (3) references for comparable transactions, preferably in Indiana.
2. A description of the firm’s retail and institutional distribution capabilities, including Indiana retail. Please also describe the expected mix of investor participation based upon the current market environment.
3. Recommended a proposed structure of the bond issuance, such as whether the financing should use a Bond Anticipation Note  or a standard bond product based on the current market, most advantageous term for the bond between a fifteen (15) year term and maximum of a twenty five (25) year term, whether principal should be repaid on a level or escalating basis, etc.
4. A description of the firm’s approach/strategy to pricing and its willingness/ability to purchase unsold bonds after the order period ends. Please include any instances where the firm took a material amount of unsold bonds into inventory during 2024 or 2025.
5. Indicative pricing scales based on the market as of the close of business on _June 30 2025. Additionally, provide commentary on couponing structure in the current rate environment.
6. A proposed fee to underwrite the bond, including a line-item of all components of the fee. Please note that fee will be just one of the factors considered in the selection process.
7. Any other information the firm believes would be helpful to the City in considering the firm’s qualifications.

The City reserves the right to request additional information from the proposers and reserves the right to reject all proposals and to waive any irregularity or informality. The City reserves the right to conduct interviews as part of the evaluation process but is not required to do so. Respondents selected for an interview will be notified of the specific time, place, and procedure for the interviews, if applicable. The City will select the proposer that best meets the needs of the City based upon a variety of factors.

Questions concerning this RFP should be submitted via email no later than July 28 2025 by 5:00 pm to controllersofficegeneralemail@fishers.in.us. Answers to questions deemed appropriate for response by the City, in its sole discretion, will be distributed by publication on the City’s website and will constitute addenda to this RFP.  The City may rephrase questions as it deems appropriate and may consolidate similar questions.  No oral requests will be considered.  No requests for additional information or clarification to any person other than the e-mail address provided above will be considered.  Failure to abide by this requirement may result in disqualification from the procurement process. Please note that neither questions nor responses will be deemed confidential.

The City’s most recent Annual Comprehensive Report for the year ended December 31, 2023, can be found at https://fishersin.gov/departments/financial-transparency/.

NOTE: The City reserves all right to amend the information in this RFP. The City may terminate discussions with any or all interested parties at any time. Information in this request is considered preliminary, subject to change, and may be withdrawn at any time. The City reserves rights to waive defects, irregularities, or informalities and it may accept, use, or reject any part of any response at its discretion. No information to the City pursuant to this Request shall be treated as confidential or proprietary, as it may be used by the City at any time for any purpose. The City may postpone the date responses are to be submitted or take any other action that it deems to be in its best interest. The City is not responsible for and will not pay for any costs associated with your submission.

Proposals in response to this RFP shall be submitted by or before July 28 2025 to controllersofficegeneralemail@fishers.in.us. Proposals submitted after July 28  2025 at 5:00 p.m. EST will not be considered.