Bond Counsel Service, Funding Year 2023

The City of East Orange is actively seeking professional Bond Counsel services for its Funding Year 2023 initiatives, as detailed in an initial advertisement published in the Newark Star Ledger on October 17, 2022. This Request for Qualifications (RFQ) aims to secure expert legal counsel to navigate the complexities associated with the issuance, management, and compliance of municipal bonds, which are crucial for financing public infrastructure projects and city operations. The comprehensive scope of work for the selected bond counsel includes providing legal advice on bond structures, drafting and reviewing all necessary legal documentation, performing due diligence, and representing the city in all bond-related transactions to ensure adherence to federal, state, and local regulations. This Addendum No. 1 specifically provides important clarifications to the original RFQ. Prospective contractors applying for this critical Bond Counsel role are mandated to possess and maintain robust professional liability insurance. The specified minimum limits for this insurance are set at $1,000,000.00 for each individual claim and a cumulative aggregate of $3,000,000.00 for each policy period. This strict requirement underscores the City of East Orange's commitment to mitigating risks and ensuring adequate protection against potential professional errors or omissions that could arise during the provision of legal services. The addendum does not introduce any requirements for specific licenses like NJ Public Works Contractor Registration, nor does it mention any mandatory pre-bid meetings or site visits, focusing solely on the insurance stipulations. All submissions for the Bond Counsel Service RFQ must strictly adhere to the established timeline. This Addendum No. 1 explicitly states that the RFQ Acceptance Date, which serves as the submission deadline, remains unaffected and is firmly scheduled for November 17, 2022. While a specific time is not provided, standard business hours typically apply. For any inquiries, questions, or concerns related to this solicitation, interested parties are directed to contact Racquel C. Ferguson at the City of East Orange's Division of Procurement. Ms. Ferguson can be reached directly via phone at (973) 266-5162. This document does not specify any requirements for bid security, performance bonds, or other financial guarantees.