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Request for bid for District Cash Flow Investment Management Services and
Reporting for construction bond proceeds up to $16,000,000

10:00 AM CENTRAL TIME ON MAY 31st, 2024

Submittal: Proposals should be sent via e-mail to Brian Breeden, Superintendent at breedenb@cleverbluejays.org
Please include "Proposal of Investment Services" in the subject line of the e-mail.
Please also include a "read receipt" in the e-mail submittal for verification that your e-mail has been received by the District. Also, please feel free to request verbal verification from the District.
Any questions or requests for additional information should be directed to Dr. Brian Breeden at (417) 743-4800.

Overview: The Clever R-V School District, Christian County, Missouri (the "District") is requesting qualifications or proposals from banks or investment management firms for the investment of bond proceeds due to the passage. The proceeds of the bonds will be used to construct certain improvement projects in the District. The District is looking for an investment option to maximize returns on available Project Fund, while also maintaining flexibility to meet construction draws as needed without penalty.

Project: An election was held by the Clever R-V School District, Christian County, Missouri, on April 4, 2024, on the following question: Shall the Clever R-V School District of Christian County, Missouri issue its general obligation bonds in the amount not to exceed $16,000,000 for the purpose of acquiring, constructing, renovating, improving and equipping school facilities, including, but not limited to (1) constructing, improving, furnishing and equipping additions to the EleMiddle campus and the High School, (2) making safety and security improvements to school facilities, and (3) acquiring title to school facilities and/or prepaying all or a portion of existing lease obligations? If this proposition is approved, the debt service levy of the District is estimated to remain unchanged at $1.2758 per one hundred dollars assessed valuation of real and personal property. Proceeds of the bonds will be held by the UMB Financial Corporation. The bonds are expected to be issued in the amount of approximately $16 Million. Raymond James & Associates is serving as Underwriter for the bonds and Gilmore & Bell, P.C. is serving as Special Tax Counsel.

Considerations for Investment Plan: The District anticipates that the closing of the bonds will occur on or about June 20th. The proceeds of the bonds will be available for immediate investment; however, the District is working with an architect on the scope and timing of the Project. The permanent plan for investing will be made upon identification of the construction draw schedule. As such, the District may invest the bond proceeds in a short-term liquid investment that can be rolled into the permanent plan for investing the proceeds once the construction draw schedule is identified. The current plans for construction anticipate a two-year construction period with approximately half of the bond proceeds being spent halfway through construction. Smaller construction draws will occur in the first few months and at the end of construction.

Allowable Investment Options: The proceeds of the bonds will be invested in accordance with Missouri statutes and must also comply with the definition of Eligible Investments in the Trust Indenture, which is the governing legal document for the bonds. The District desires to maximize investment earnings, but all investments must follow the rule of safety first, liquidity second, and yield third.

Information for Response:
Provide a brief background of the firm.
Describe your firm's registrations with, as well as management and/or oversight by, regulatory agencies.
Indicate which of your employees would be charged with servicing the District's account, including what their experience is with your firm and with bond proceed management, and what licenses and registrations are held by these individuals.
Provide your firm's current general liability and professional liability insurance coverage, listing carriers and coverage limits.
Provide at least three (3) references of Missouri school districts that you are currently or have provided bond proceeds management.
Itemize specific approved investments you will recommend providing a reasonable return while safeguarding the principal and maintaining construction draw flexibility.
Please detail the firm's competitive bidding process. Include in your explanation how local banks in the District might have the opportunity to bid on the investment of the bond proceeds.
Please detail the firm's process to help the District maintain adequate liquidity while maximizing our investment returns.
Please detail your process to help the District manage arbitrage before, during and at the completion of the project.
Identify the anticipated time needs that your firm would expect from District staff to aid in the investment management process.
Detail what other value-added services your firm could provide the District that might enhance investment performance or administrative efficiencies for the District.

The District reserves the right to cancel this RFP at any time, without penalty. Further, the District reserves the right to reject any and all proposals, to waive or decline to waive any informalities and minor irregularities in proposals received, to request clarification of a submitted proposal, to accept any portion of a proposal or all items proposed if deemed in the best interest of the District, and to negotiate changes in the scope of the work or services to be provided. The District reserves the right to select the vendor it deems to achieve the best outcome for the District so as to best serve the needs of the District.
The District is not liable for any costs incurred to submit a proposal in response to this RFP.
Posted 5/22/2024