Municipal Advisor Services RFP

Description

The Santa Barbara County Association of Governments (SBCAG) is the Metropolitan Planning Organization (MPO) and Regional Transportation Planning Agency for Santa Barbara County. SBCAG’s member agencies include the County of Santa Barbara and all eight incorporated cities within the county.  SBCAG distributes local, state, and federal transportation funds and acts as a forum for addressing regional and multi-jurisdictional issues. SBCAG is committed to planning, funding and delivering transportation projects for the region. SBCAG is also committed to providing information to the public about its projects, plans and activities, ensuring public participation and fostering public understanding of its functions.SBCAG also serves as the Local Transportation Authority for Santa Barbara County and is responsible for administering Santa Barbara County’s voter approved transportation sales tax measure, Measure A. Measure A was approved by voters in 2008 and is estimated to provide $1.05 billion in estimated local sales tax revenue for transportation projects in Santa Barbara County from 2010 to 2040.Anticipated Borrowing ("Project")SBCAG invites proposals from qualified and independent Municipal Advisory firms to provide on-call advisory services related to debt planning and execution, including the refunding of SBCAG's existing Transportation Infrastructure Finance and Innovation Act (TIFIA) loan.The selected firm will act as SBCAG's fiduciary advisor, per applicable U.S. Securities and Exchange Commision (SEC) and Municipal Securities Rulemaking Board (MSRB) rules, and must demonstrate experience with California transportation agencies, sales tax revenue financings, and federal credit program refundings (including TIFIA). SBCAG anticipates a near-term transaction to refund its TIFIA loan contingent upon estimated net present value savings of at least 3%.