RFQ updated as of 12/21/2023
Introduction
The Industrial Development Authority of the County of St. Louis, Missouri (the “IDA”) is authorized under the provisions of Chapter 349 of the Missouri Revised Statutes to purchase, construct, extend, and improve certain projects and to issue revenue bonds for the purpose of providing funds to finance or refinance the costs of such projects. The IDA is provided staff by the St. Louis Economic Development Partnership.
The IDA issues this Request for Qualifications (the “RFQ”) for qualified legal professional services firms to serve as issuer’s counsel for the issuance of revenue bonds on an as needed basis (the “Services”). In general, the issuer’s counsel will draft various corporate resolutions and review various financing documents. It is anticipated that the IDA will identify a short list of qualified firms to provide the Services on an as needed basis for up to a three-year period, ending January 2027.
See the full RFQ here.
Scope of Services
The Services to be furnished pursuant to this RFQ shall include, but are not limited to, the following:
- Drafting the Inducement Resolution and final Bond Issuance Resolution for approval by the IDA board (occasionally, bond counsel may prepare these documents);
- Reviewing the financing documents to ensure that the structure is consistent with the terms approved by the IDA board and the general policies and procedures of IDA; and
- Providing the following items on behalf of the IDA at closing:
- A closing certificate, to include: articles of incorporation, bylaws, list of the IDA officers, certificate of good standing in the State of Missouri, resolution authorizing the issuance of the bonds, notice of meeting of the board of directors, and an excerpt of minutes from the meeting of the board of directors approving the financing;
- Blanket DTC Letter of Representations;
- Facsimile signature certificates;
- Form 8038-G (providing the IRS with information required for the issuance of tax-exempt bonds and to monitor those requirements);
- Missouri Department of Economic Development’s Industrial Development Corporation’s Annual Activity Report (Form IDC-R);
- Evidence of filing of bond information on the Missouri Accountability Portal; and
- As appropriate, the Articles of Merger of the IDA with the respective municipality where the project is located.
While the above is a general summary of the Services, specific requirements may differ depending upon the project.
The successful firm must carry professional malpractice insurance coverage with limits of at least $1,000,000/$1,000,000. Any attorney designated to provide the Services from the successful firm must be a member in good standing of the Missouri Bar.
Submission of Responses
Qualification submittals will be accepted throughout the 2023-2024 calendar years. However, to ensure your firm is considered, please submit your firm’s qualifications as soon as possible. The initial review of qualifications for inclusion on the Qualified List will begin after Thursday, December 21, 2023, at 3 PM CT.
Schedule
RFQ Newspaper Advertisement Thursday, November 30, 2023
Submission of Qualifications by Thursday, December 21, 2023
Electronic submissions should be in PDF format and sent by email to [email protected].
Industrial Development Authority
c/o St. Louis Economic Development Partnership
Attn: Missy DeMarco
120 S. Central Ave., Suite 200
St. Louis, Missouri 63105
(314) 615-7663