Senior Managing Underwriting Services

The Rhode Island Turnpike and Bridge Authority has issued a Request for Proposal to select a qualified firm to provide Senior Managing Underwriter services for the upcoming Motor Fuel Tax Refunding Revenue Bonds, Series 2026 A. The solicitation, posted on November 12, 2025, emphasizes experience in transportation bond underwriting, distribution capabilities, key personnel qualifications, and Rhode Island-specific project experience, with evaluation weights of up to 25% for distribution and firm experience, 20% for key personnel and local experience, and 10% for proposed fees. Proposals are due by December 3, 2025, at 2:00 pm EDT, with an anticipated contract award around mid-January 2026. The bonds are expected to be sold via negotiated public offering, with Taft & McSally LLP serving as Bond Counsel. The procurement process involves strict compliance and certification requirements, including disclosures related to political contributions, ownership by major state decision-makers, and potential conflicts of interest. Offerors must certify that their proposals are truthful and complete, and they must disclose any political contributions exceeding $250 within the past two years or ownership interests by state officials. The submission must adhere to a 10-page limit (excluding covers, resumes, and appendices), formatted in 12-point font, and delivered electronically through designated channels. The process prohibits direct contact with RITBA staff outside official communication channels, and all submitted materials become public records unless properly redacted for trade secrets or confidential information. While the solicitation does not specify a formal FAR-based contract clause structure, it includes detailed instructions on proposal content, evaluation criteria, and special contractual requirements such as key personnel interviews and conflict of interest mitigation. The scope of work centers on providing underwriting services for Rhode Island’s transportation bonds, with performance expected to align with bond issuance timelines and related financial activities within the state. The contract size is estimated between $500,000 and $2,000,000, reflecting the scale of the bond issuance and underwriting services required.