RFQ - Ocean Sands Water and Sewer District Installment Financing Agreement
The Ocean Sands Water and Sewer District, a blended component unit of the County of Currituck, North Carolina desires to enter into an installment financing agreement pursuant to N.C.G.S. §160A-20 in the principal amount not to exceed $8,000,000 for the purpose of financing the cost of the project described below.
Two (2) copies of you proposal must be received by 2:00 p.m. on Thursday, August 17, 2017 at the offices of:
You may also submit your proposal via facsimile transmission at 252-232-2141 or via e-mail at Sandra.Hill@CurrituckCountyNC.gov . If you do not hand deliver, please call 252-232-2381 to confirm receipt prior to proposal deadline.
A. Pertinent Information
The Project consists of the construction of a new Ocean Sands Wastewater Treatment Plant and the demolition of the existing sewage treatment plant and all related appurtenances. (the "Project").
The County is currently rated Aa3 by Moody's Investors Service and AA by Standard & Poor's Ratings Service. The County's North Carolina Municipal Council Rating is 81.
The financing will be bank eligible under Section 265 of the Internal Revenue Code of 1986.
The County expects to obtain Local Government Commission approval of the installment financing agreement on October 3, 2017.
B. Contract Specifications
C. Submission of Proposal
Two copies of you proposal must be received by 2:00 p.m. on 17th of August, 2017 at the offices of Sandra Hill, Finance Director, County of Currituck, 153 Courthouse Rd, Ste 102, Currituck, NC 27929. You may also submit your proposal via facsimile transmission at 252-232-2141 or via e-mail at Sandra.Hill@CurrituckCountyNC.gov. If you do not hand deliver, please call 252-232-2381 to confirm receipt prior to proposal deadline.
Proposals must specify at a minimum the following information.
The Ocean Sands Water and Sewer District and the County reserve the right to request additional information from the bidders and reserves the right to reject all proposals and to waive any irregularity or informality. Although the selection will be based substantially on lowest total financing cost (including both interest cost and upfront fees and expenses), the County reserves the right to select the bidder that best meet the needs of the County.
If further information is needed or if you have any questions regarding this Request for Proposal, please contact Sandra Hill, Finance Director, 252-232-2381 or Sandra.Hill@CurrituckCountyNC.gov
Thank you in advance for your consideration of this proposal.