INTRODUCTION
The Bay County Board of County Commissioners (County) is seeking proposals for the purpose of providing Financial Advisor services to the County. The Financial Advisor will assist the County in developing, implementing, and maintaining strategies to meet its capital financing needs.
The Financial Advisor must be able to provide a full scope of financial advisory services, demonstrate experience in preparing and marketing a bond issue, and serve as a consultant and advisor in the implementation of capital improvement programs and in the conduct of business transactions with financial institutions. The required services include, but are not limited to, the following:
A. Review and report quarterly (at a minimum) existing debt structure and financial resources to determine available borrowing capacity and refinancing options. If savings opportunities from refinancing arise before the next scheduled quarterly report, the Financial Advisor shall notify the County immediately.
B. Recommend appropriate financial structure for proposed projects, including analysis of term length, repayment schedules, fixed versus variable interest rates, callable features and leasing options, if applicable.
C. Prepare cash flow forecasts for proposed issues, addressing debt service requirements, funding sources, and alignment with project timelines.
D. Analyze revenue trends and forecasts to support long-range financial planning and capital improvement program development.
E. Conduct economic and financial impact assessments of major projects or development proposals, including cost-benefit analysis and long-term fiscal implications.
F. Provide strategic advice on terms, features, timing and marketing of issues, interest rate environment, and market demand.
G. Evaluate the financial impact of legislative changes at the state or federal level that could affect the County’s revenue base or borrowing capacity.
H. Advise on benefits of negotiated versus competitive bid sales for each issue. Assist in communications and negotiations with designated underwriter and legal counsel.
I. Assist the County in preparation of an official statement in conjunction with bond and disclosure counsel and County staff.
J. Arrange for the widest possible distribution of the official statement to bond underwriters and potential investors.
K. Consult with County staff as needed regarding various financing options or concerns.
L. Assist the County in obtaining the highest possible credit ranking.
M. Assist with bid opening or negotiated sale with underwriter, as applicable, to advise on bond market conditions, verify the accuracy of proposals received, and prepare a formal recommendation on the preferred offer.
N. Assist with bond closings and coordinate printing, signing, and delivery of bonds.
O. Assist in selecting paying agents and other financial intermediaries as necessary.
P. Advise the County on proposed and actual changes in tax laws and financial market developments that could affect County bond financing plans.
Q. Attend County Commission meetings and other scheduled County meetings as requested, with reasonable advance notice.
R. Ensure all services are performed in compliance with GFOA best practices, applicable Florida Statutes (including the Sunshine Law and public records requirements), SEC regulations, and MSRB rules.
S. Provide expert testimony at validation hearings.
T. Disclose any potential conflicts of interest in writing, including current or prior relationships with underwriters, lenders, financial institutions, or any party involved in the County’s financing activities that may affect the impartiality of recommendations.
U. Participate in periodic performance evaluations with County staff to assess the effectiveness of advisory services and adherence to project timelines and goals.
V. Protect the integrity and security of all County data during handling, storage, and transmission. While recognizing that financial documents may be subject to public records disclosure under Florida law, the Financial Advisor shall implement reasonable cybersecurity measures to prevent unauthorized access, alteration, or destruction of County data.
PROPOSAL DEADLINE/DELIVERY
ELECTRONIC OR SEALED PROPOSALS for RFP NO: 26-21 Financial Advisor Services will be received by the BOARD OF COUNTY COMMISSIONERS OF BAY COUNTY, FLORIDA at the Purchasing Department, 840 West 11th Street, Suite 2500, Panama City, Florida 32401 up until 2:00 PM (CDT) Wednesday, February 25, 2026. Proposals will be publicly opened immediately following the deadline. It is the sole responsibility of the Respondent to ensure that the Proposal is received on time.
Each Proposal shall be delivered to the Board of County Commissioners Purchasing Department, at 840 W. 11th Street, Suite 2500, Panama City, Florida 32401, no later than the Proposal deadline.
Proposals for this solicitation may be submitted either electronically via OpenGov OR by paper, sealed and delivered to the Board of County Commissioners Purchasing Department, at 840 W. 11th Street, Suite 2500, Panama City, Florida 32401.
Special Accommodation: Any person requiring a special accommodation at a Pre-Proposal Conference or Proposal opening because of a disability should call the Purchasing Department at (850) 248-8270 at least five (5) workdays prior to the Submittal opening. For Hearing Impaired, Dial 1-800-955-8771 (TOO), and 1-800-955-8770 (Voice).
SOLICITATION DOCUMENTS
Electronic versions of the solicitation documents are available via OpenGov Procurement https://procurement.opengov.com/portal/baycountyfl
Bid documents, plans, blueprints, or other materials may also be obtained by contacting the Bay County Purchasing Department, , 840 West 11th Street, Suite 2500, Panama City, FL 32401, (850) 248-8270.
For those projects with separate plans, blueprints, or other materials that cannot be accessed through the internet, the Purchasing Department will make a good faith effort to ensure that all registered proposer (those who have been registered as receiving a solicitation package) receive the documents.