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1. Proposal shall include a statement outlining your concurrence or concerns with any and all provisions as contained in this RFP.
<br />BofA Securities, Inc. does not object to any of the provisions contained in this RFP.
<br />i. A general description of the firm, including structure, size, number of employees, relevantfinancing experience, and any past or contemplated changes
<br />in ownership. Additionally, the following shall be included:
<br />Provide a list in tabular form with a grand total, of all Pension Obligation Bond transactions in which the firm has served as senior manager since
<br />January 2010, specifically identifying staff members involved and their roles.
<br />Provide a list in tabular form with a grand total, of all Pension Obligation Bond transactions in which the firm has served as co -manager since January
<br />2010, specifically identifying staff members involved and their roles.
<br />Firm Overview. Bank of America Corporation ("Bank of America" or "BAC") is a C Corporation with over 200,000
<br />employees globally and offers a full range of banking, investing, asset management and other financial and risk
<br />management products and services. Bank of America is a global leader in wealth management, corporate and
<br />investment banking and trading across a broad range of asset classes — serving individuals, small and middle
<br />market businesses, large corporations and institutions (including our municipal clients) around the world.
<br />BANKOFAMERICA���/ BofASECURITIES���� MERRILL SS BAN KOFAMERICA
<br />���/
<br />A BANK OF AMERICA COMPANY PRIVATE BANK
<br />BofA Securities is the brand name for the institutional businesses conducted through the broker -dealer BofA
<br />Securities, Inc. ("BofA Securities" or "BofA"), which houses a suite of investment banking and underwriting
<br />services for municipal issuers. Commercial bank services are provided by our affiliate, Bank of America, N.A.
<br />("BANA"). BofA is the successor entity for the institutional business of Merrill Lynch, Pierce, Fenner & Smith
<br />Incorporated ("Merrill"), which was incorporated in 1958 and was a municipal broker -dealer for approximately
<br />60 years. Through Merrill, BofA continues to operate its retail wealth management business, which has over
<br />17,000 retail financial advisors and client balances of approximately $3 trillion.
<br />Municipal Market Leadership and Unique Combination of Expertise. BofA has ranked as the #1 underwriter of
<br />municipal bond issues nationally in each of the last nine years. Since 2010, BofA has senior managed over $629
<br />billion in par across 5,464 issues. Our financing experience nationally and within California covers a broad and
<br />geographically diverse range of agencies with a multitude of various capital programs. BofA is well suited to
<br />serve the City's financing needs as evidenced by the following:
<br />■ Premier Taxable Financing Capabilities. BofA is the leading underwriter of taxable municipal bonds
<br />nationally, having brought to market $78 billion in par across 725 issues nationally since 2010. Additionally,
<br />BofA coordinates all taxable municipal credits from our municipal syndicate desk in close cooperation with
<br />our high-grade corporate salesforce, bringing the global reach of the BofA franchise to the City's benefit.
<br />• Pension Financing Expertise. BofA is a leader in
<br />pension obligation financings both nationally and
<br />SELECT BofA TEAM'S PENSION
<br />OBLIGATION CLIENTS
<br />within California. Since 2010, BofA has senior-
<br />City of Fresno, CA
<br />City of Riverside, CA
<br />managed $3.4 billion of pension -related financings
<br />City of Manhattan Beach, CA
<br />Riverside County, CA
<br />City of Long Beach, CA
<br />Sacramento County, CA
<br />nationally — of which $1.0 billion was for California
<br />City of Kalamazoo, MI
<br />San Bernardino County, CA
<br />issuers. Our recent senior -managed POB experience
<br />Commonwealth of Puerto Rico
<br />Oakland County, MI
<br />includes financings for the State of Illinois ($800
<br />Detroit Retirement System Fund
<br />San Diego County, CA
<br />Fresno County, CA
<br />Sonoma County, CA
<br />million 2020 Pension GO Bonds) as well as for the
<br />Kern County, CA
<br />State of Alaska
<br />cities of Riverside ($432 million 2020 POBs), Azusa
<br />Los Angeles County, CA
<br />State of Connecticut
<br />G
<br />($70 million 2020 POBs), Gardena $101 million
<br />) (
<br />Merced County, CA
<br />Monmouth County, NJ
<br />State of Kansas
<br />State of New Jersey
<br />2020 POBs), El Cajon ($147 million 2021 POBs), and
<br />City of Pasadena, CA
<br />State of Wisconsin
<br />Downey ($114 million 2021 POBs). In addition, we
<br />currently are serving as senior manager on pending POB financings for the cities of Manhattan Beach and El
<br />Cajon (second tranche).
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