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MARSHALL COUNTY BOARD OF PUBLIC UTILITIES624 W. Commerce StreetLewisburg, TN 37091REQUEST FOR QUALIFICATIONSFor Independent Financial AdvisorTo Management and the BoardIssue Date: February 25, 2020 Submission Deadline: March 17, 2020Overview of the Required Professional ServicesMarshall County Board of Public Utilities (“MCPU”) is needing the assistance of an independent financial advisor. This independent advisor will be needed to assist MCPU with setting the appropriate rates and charges for its water services to its customers. This advisor will also be required to assist with developing a financial forecast for MCPU. The financial forecast is needed to project future water revenues along with operational costs of the current water system and the costs associated with the necessary capital costs required to support, maintain, and build additional plant needs to meet the water demands of its current customers and additional new customers to be added with future projected growth. This professional financial advisor may also be asked to assist MCPU with determining the financial impacts of any future acquisitions of other water systems that could be presented to the Board. MCPU is looking for an independent financial advisor that is knowledgeable with and has experience working with water utilities. They should be familiar with and have experience working with the AWWA M-1 Manual, Principles of Water Rates, Fees and Charges. This manual represents the guidelines established by AWWA and used to prescribe the proper methodology in setting rates for water systems. This advisor should also have experience in developing financial forecasts and assisting water systems and other utilities with making financial projections. MCBPU currently serves approximately 4300 service connections or just over 10,000 residents of Marshall County. MCBPU operates and maintains around 400 miles of water transmission line, 5 tanks and 5 pumping stations. It is our goal to provide the residents of Marshall County with the safest, most reliable source of drinking water at the most reasonable cost possible. MCPU is looking to obtain assistance from a professional financial advisor. This project includes assistance with determining MCPU’s cost of service and developing retail rates, fees and charges that generate the necessary revenue requirements of the water system. This would include assisting MCPU with reviewing the financial impacts of future capital projects, including debt-service, and how those decisions would impact the future revenue requirements. Requests Made for Needed Qualifications ProcessEnquiries-All enquiries related to the RFQ are to be directed, in writing, to Tommy Whaley, General Manager, MCPU. The address used to make enquiries is 624 W. Commerce St., Lewisburg, TN, 37091.Closing Date for Submissions-Complete hard copies and one electronic copy of each response is requested to be received before 4:00 p.m., on March 17, 2020 at the address of MCPU (624 W. Commerce St., Lewisburg, TN 37091). Responses must not be sent by facsimile. Responses and their envelopes should be clearly marked, “RFQ- Financial Advisory Services”, and include the name and address of the respondent. Qualifications Review Committee for MCPU-The Qualifications Review Committee for MCPU that will review the responses for the RFQ will include Tommy Whaley, General Manager, for MCPU, and appointed Board Members.Review Process and Selection Criteria-The Qualifications Review Committee for MCPU will check and review responses to this RFQ against the requirements and mandatory experience needed to provide the professional services for this project. Responses not meeting the mandatory and required experience will not be considered for review. Should MCPU decide to take a Requirement for Proposals (Pricing) after the review of qualifications, all qualified respondents will receive such. If during this Qualifications Review Process, MCPU and its management determines they have a respondent that meets their needs/requirements for this project, above the other respondents, they can use this qualifications process to make their selection. As such, it is imperative that each respondent to this RFQ, reflect the depth of knowledge, experience and qualifications that will meet the professional and advisory needs for MCPU with this project. This includes referrals (within the water utilities industry) that can support experience with similar projects.Signed Responses-Responses from those interested in submitting to this RFQ must be properly signed and executed by a proper principal of the respondent that can commit to this project should the respondent be selected by MCPU. Acceptance of Responses-This RFQ process and the acceptance of such responses is not a binding requirement to this project by MCPU. All responses will be assessed in light of the qualifications and professional experience required of this project. Should MCPU and the Qualifications Review Committee decide to do so, they will set interviews with different qualified respondents in order to inquire for further background on those respondents. 3)Defined Professional ServicesMCPU is in need of the assistance of an independent financial advisor. The management of MCPU anticipates the needs of their current water system and its customers, its future growth needs/demands, and its capital project requirements will create additional funding and revenue requirements along with strategic financial planning. Knowing such, MCPU and its management team require the services of an independent financial advisor. That professional advisor should possess the following experience and knowledge:Professional assistance with Cost of Service analysis for water utilities;Professional knowledge and experience in designing rates, fees and charges under the guidance of the AWWA M-1 Manual;Professional experience and knowledge in developing and working with financial forecasts used to project the financial needs and revenue requirements to meet the future costs and funding needs of a growing water system;Professional assistance and experience with the valuation of and potential financial impacts of potentially acquiring other water systems;Professional assistance in determining debt financings and options related to the future funding needed by MCPU;Providing professional accounting, financial and rate impacts advice for the management team of MCPU. Evaluation CriteriaThe criteria to be used by the Qualifications Review Committee of MCPU will include the following: Years of experience in providing professional financial advice to the water utilities industry;Depth of experience and knowledge working with cost of service and rate design assistance for water utilities, specifically working with the AWWA M-1 Manual;Experience of professional team proposed to assist MCPU;Proven capacity and history to deliver project requirements on time and as required by the client; Referrals from other water utility clients, specifically as it relates to the required professional financial services needed for this project; Referrals from other water utilities professionals;Awards or industry recognition for work/commitment to the water utilities industry. Submission RequirementsThe respondent’s submission to this RFQ should include:Statement of interest. This statement of interest should detail their understanding of the professional financial advisory services being requested by MCPU and to meet the needs to complete the project as explained in this RFQ. Proposed professional team. This should include a resume outlining the respondent’s experience in working with the water utilities industry; the team members’that are proposed to work on the project, and similar work with other water utilities. Conflicts of InterestThe respondent should disclose any known conflicts of interest, if any, in writing to the Qualifications Review Committee. The Committee will consider the nature of the respondent’s responsibilities and the degree of potential or apparent conflict in deciding the course of action that the respondent needs to take to remedy the potential or stated conflict of interest. ................
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