Item 23 - Pension Debt Refinancing Update and Underwriter Selection

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(9)CITY OF SANTA ANA • CalPERS Valuation Reports — as of June 30, 2019 o Safety https://www.calpers.ca.gov/docs/actuarial-reports/2019/santa-ana-city- safety-2019. pdf o Miscellaneous https://www.calpers.ca.gov/docs/actuarial-reports/2019/santa-ana-city- miscel laneous-2019. pdf Pension Bond Refinancing Staff Report (EXHIBIT A) X. SELECTION PROCEDURES & CRITERIA A. The City will establish a proposal review committee (committee), consisting of Finance staff designated by the Executive Director of Finance and Management Services. The review committee will evaluate proposals based on the response to the RFP, which includes adherence to outlined directions and format, and the City evaluation criteria set forth above. B. Proposers will be ranked by the committee based on the following criteria: CATEGORY VALUE Experience of Firm and Personnel Experience on similar financings in California and nationally. 15 Relevant qualifications of key personnel assigned to this financing. Firm Experience with recent issuance of Pension Obligation Bonds 20 Distribution capabilities 25 Structuring of transaction ideas / Analysis of Transaction / related Marketing Plan for 30 sale of debt Proposed Fees - Cost of delivering specified services is consistent with industry standards. 10 - Expected overhead costs for the awarded entity as they apply to management of the contract TOTAL POSSIBLE SCORE 100 C. A final score will be calculated for each submitted proposal and used to rank Proposers. The City is under no obligation to accept any proposal and reserves the right to negotiate with respondents as to fees and terms. The City may reject proposals at its sole discretion. If a proposal fails to satisfy any requirements outlined in this RFP, it may be considered non -responsive and the proposal may be rejected. RFP No. 21-025 Underwriting Services for Pension Refinancing Bonds Page 12 of 24