Municipal Advisory Services

The County of Riverside Purchasing & Fleet Services Department, on behalf of the Executive Office, is seeking proposals from duly qualified institutions to provide municipal advisory services on items as set forth in Tab E “Scope of Services”. The County of Riverside (COUNTY) was organized in 1893 from territory in San Bernardino and San Diego Counties and encompasses 7,177 square miles. The COUNTY is bordered on the north by San Bernardino County, on the east by the State of Arizona, on the south by San Diego and Imperial counties and on the west by Orange and San Bernardino counties. The COUNTY is the fourth largest (by area) in the State and stretches from the Arizona border to within 20 miles of the Pacific Ocean. There are 28 incorporated cities in the COUNTY. According to the State Department of Finance, Demographic Research Unit, the COUNTY’s population was estimated at 2,442,378 as of January 1, 2024, representing an approximately 0.6% increase over the County’s population estimated as of January 1, 2023. The COUNTY is a general law county divided into five supervisorial districts on the basis of registered voters and population. The COUNTY is governed by a five-member Board of Supervisors, elected by district, serving staggered four-year terms. The Chair of the Board is elected by the Board members. COUNTY administration includes appointed and elected officials, boards, commissions and committees which assist the Board of Supervisors. The COUNTY provides a wide range of services to residents, including police and fire protection, medical and health services, education, library services, and public assistance programs. Some municipal services are provided by the COUNTY on a contract basis to incorporated cities within its boundaries. These services are designed to allow cities to contract for municipal services such as police and fire protection without incurring the cost of creating city departments and facilities. Services are provided to the cities by the COUNTY at cost by the County. Three distinct geographical areas characterize the COUNTY: the western valley area, the higher elevations of the mountains, and the deserts. The western valley, which included the San Jacinto Mountains and the Cleveland National Forest, experience the mild climate typical of Southern California. The eastern desert areas experience warmer and dryer weather conditions. As of June 30, 2024, the COUNTY had $425,000,000 outstanding in Tax and Revenue Anticipation Notes, $123,075,000 in Teeter Plan Obligation Notes, $670,785,000 in Pension Obligation Bonds, $603,454,234 in Lease Revenue Bonds, and, $95,230,000 in Community Facilities Districts/Assessment District Bonds. The Successor Agency to the Redevelopment Agency of the County of Riverside had $536,436,222 in outstanding bonds, and, the Inland Empire Tobacco Securitization Authority had $3,673,705,000 in outstanding bonds. The COUNTY has no authorized and unissued general obligation debt. The COUNTY reserves the right, dependent on the needs of the Executive Office, to award multiple bidders.