It shall be the policy of the Corporation to publicly announce its requirements for architectural, engineering and consulting services, in accordance with R.I. Gen. Laws § 37-2-65.
Prequalification of Contractors
Architects, engineers and consultants seeking to do business with the Corporation shall submit to the Corporation at least once every three (3) years a statement of qualifications and performance data which shall include, but not be limited to the following:
1. The name of the firm and the location of all of its offices, specifically indicating the principal place of business;
2. The age of the firm and its average number of employees over the past five years;
3. The education, training, and qualifications of the firm's members and key employees;
4. The experience of the firm, reflecting technical capabilities and project experience; and
5. Such other pertinent information as requested by the Executive Director.
B. The Executive Director shall review such submissions and may in his/her discretion, along with a member of the Board of Directors, conduct interviews with members of those architectural, engineering and consulting firms that submitted statements of qualifications. Based on the review of such submissions and interviews, if any, the Executive Director shall develop therefrom a tentative prequalified list. The Executive Director shall present such architects, engineers and consultants who have submitted a statement of qualifications to the Corporation's Board of Directors for approval. On the Board of Director's review and approval of such tentative prequalified list (including any revisions thereto made by the Board of Directors), such tentative list shall become the solicitation mailing list contemplated by R.I. Gen. Laws § 37-2-25.
Public Announcement of Needed Architectural, Engineering or Consultant Services
The Corporation shall give public notice of the need for architectural, engineering or consultant services which are reasonably estimated to exceed twenty thousand dollars ($20,000) in accordance with the requirements of R.I. Gen. Laws § 37-2-65.
A. A solicitation shall be prepared which describes the Corporation's requirements and sets forth the evaluation criteria. It shall be distributed to persons on the solicitation mailing list and interested persons pursuant to R.I. Gen. Laws § 37-2-66(a).
B. The solicitation shall describe the criteria to be used in evaluating the statements of qualification and performance data and in the selection of firms. Criteria shall include, but are not limited to the criteria described in R.I. Gen. Laws §§ 37-2-66(1) through (4).
C. For services reasonably estimated to exceed twenty thousand dollars ($20,000), a bidder's conference may be held in accordance with R.I. Gen. Laws § 37-2-66(b). The scope of work shall be discussed and further defined at such conference, in accordance with R.I. Gen. Laws § 37-2-66(c).
Evaluation of Statements of Qualifications and Performance Data
The Corporation shall evaluate all statements, including but not limited to statements of qualifications and performance data in accordance with R.I. Gen. Laws § 37-2-67
1. The Corporation may waive informalities in any statements and statements of qualification and performance data.
Final Selection of Contractors
A. For each contract to be awarded, the Corporation shall select no more than three (3) firms (or two (2) if only two (2) apply) in accordance with R.I. Gen. Laws § 37-2-68(a).
B. The Corporation shall negotiate with the highest qualified firm for a contract for architectural, engineering or consultant services in accordance with R.I. Gen. Laws § 37-2-68(b).
Contracts Not Exceeding $20,000.
For every contract for architectural, engineering, and consulting services, the fees for which are not reasonably expected to exceed twenty thousand dollars ($20,000), the Executive Director shall be responsible for the final selection of the architectural, engineering and/or consulting firm. For every contract for architectural, engineering, and consulting services, the fees for which are not reasonably expected to exceed twenty thousand dollars ($20,000), the Executive Director shall notify the Board of Directors of his/her selection. The Executive Director shall use the criteria set forth in § 1.2.4(B) of this Part in making such determinations. Each determination shall be justified in writing.
Method of Structuring and Underwriting Bond Issues.
A. In general, the Corporation will attempt to structure and underwrite a bond issue that will produce the lowest possible interest cost to the borrowing institution while protecting the interests of the Corporation. The Corporation will have the sole authority to determine the structure of each of its bond issues. Because of the complexity of most of the Corporation's bond issues, the Corporation will select its underwriter(s) for a particular bond issue based on a competitive negotiation procedure described in § 1.2.8(B) of this Part below, unless the Corporation determines that a competitive sealed bid procedure, described in § 1.2.8(C) of this Part below is feasible. Any underwriter selected by the Corporation for a particular bond issue shall be required to engage legal counsel that is included in the most current edition of the Bond Buyer's Municipal Marketplace (the "Red Book.")
After the receipt by the Corporation of an application for financing, the following actions will be taken:
a. The Executive Director, in consultation with the Financial Advisor to the Corporation, Counsel to the Corporation and a representative of the borrowing institution, shall prepare a Request for Proposals ("RFP");
b. The Executive Director shall determine the time period of the RFP process;
c. The Executive Director will send the RFP to all firms on the Corporation's solicitation mailing list of underwriters, compiled in accordance with § 1.2.2 of this Part;
d. An Underwriters' RFP Review Committee ("Review Committee") will review all of the RFP's received in response to the Corporation's solicitation. The Review Committee will consist of the Executive Director, Financial Advisor to the Corporation, and a representative from the borrowing institution;
The Review Committee shall evaluate:
(1) Statements submitted in response to the RFP;
(2) Statements of qualifications and performance data, if their submission is required. The Review Committee may also evaluate the proposing firms' most recent statement of qualifications;
(3) Prior experience the Corporation or the borrowing institution has had with the proposing firm;
(4) Anticipated underwriters' discount;
f. The Review Committee may then select an appropriate number of proposing firms to interview to provide such further information to the Review Committee as it may require;
g. After the Review Committee has reviewed all its required information, it will submit a recommendation to the Board of Directors of the Corporation, along with the reasons for its recommendation, as to what firm(s) and in what capacity, should be awarded the underwriting contract;
h. The Board of Directors shall review the recommendation of the Review Committee, and may request additional information from the Committee or from the proposing firms. Based on its review, the Board of Directors shall select the underwriter(s) to proceed with a particular bond issue.
Competitive Sealed Bid Solicitation.
If the Corporation determines that a competitive sealed bid is feasible and practicable, then the Corporation shall direct that the following actions be taken:
That the Executive Director, Counsel to the Corporation, Financial Advisor to the Corporation and Bond Counsel negotiate with the borrowing institution the pertinent terms of the bond issue. After the pertinent terms have been negotiated, the Corporation shall direct:
(1) Bond Counsel to prepare a Preliminary Official Statement describing all the details of the bond issue, conforming to the Corporation's policies regarding offering statements as well as appropriate federal and state regulations governing the sale of securities and a Notice of Competitive Bid;
(2) the Executive Director to publish the Notice of Competitive Bid in the Providence Journal and such other publication as he/she deems appropriate. The Notice of Competitive Bid shall state the details of the bid, the criteria for the award of the bid, and such other information as the Executive Director deems appropriate;
(3) the Executive Director will distribute the Notice of Competitive Bid to all firms on the Corporation's solicitation mailing list of underwriters, compiled in accordance with § 1.2.2 of this Part.
b. Award of Competitive Bid. The Corporation shall award the underwriting contract to the lowest bid interest, cost or the lowest evaluated or responsive bid price. In general, the Corporation will award the bonds to the firm offering the lowest True Interest Cost on the bonds. The Financial Advisor to the Corporation will verify the True Interest Cost calculation of each of the bidders. The Corporation may select another method of awarding the bonds, provided such a method does not violate the Corporation's general policy as to the award of underwriting contracts and that the method of award is described in the Notice of Competitive Bid.
c. In the event a protest is filed in a timely manner under this Section, the Corporation shall not proceed further with the solicitation or award which is the subject of the protest until it has issued a decision on the protest, or determined that continuation of the procurement is necessary to protect a substantial interest of the Corporation.