Independent Registered Municipal Advisor

Post InformationPosted At:Mon, Apr 8, 2024 3:09 PMSealed Bid Process:Yes (Bids Sealed / Pricing Sealed)Private Bid:NoOverviewSummaryThe City of Pasadena is seeking the services of a qualified Independent Registered Municipal Advisor professional firm (“IRMA”) to act as an independent financial advisor and economic market expert, provide advice and assist on debt issuance, structuring, timing of issuance, call provision options, rating matters, and on existing and proposed financial arrangements. The IRMA shall be registered with the Securities and Exchange Commission (“SEC”) and the Municipal Securities Rule Rulemaking Board as required under Section 975 of Title IX of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”).BackgroundThe City consistently receives international recognition for the Rose Parade and Rose Bowl events and has achieved significant success in blending urban amenities with suburban neighborhoods. Engineering, finance and health care

comprise the primary industry sectors. In addition, the academic and research pursuits of the California Institute of Technology, the Jet Propulsion Laboratory and the Art Center College of Design bring a unique combination of resources to the City. The City’s Downtown continues to serve as the corporate and entertainment center for the San Gabriel Valley’s 1.8 million residents.The City of Pasadena Finance Department is in charge of financings City-wide including financings of its various associated affiliated agencies. These agencies include, but are not limited to, the Rose Bowl Operating Company, Pasadena Center Operating Company and the Pasadena Community Access Corporation.The City of Pasadena has a AAA long term rating by S&P and AA+ by Fitch rating agency. The City of Pasadena has a Council-adopted debt policy. The City’s latest Annual Comprehensive Financial Report and Adopted Budget can be found on the City’s website at the links below:https://www.cityofpasadena.net/finance/financial-statements/#comprehensive-annual-financial-https://www.cityofpasadena.net/finance/operating-budgets/adopted-budget-2024/ TimelineRelease Project Date:April 8, 2024Question Submission Deadline:April 18, 2024, 3:00pmProposal Submission Deadline:May 1, 2024, 3:00pm