Request for Proposals for Swap Advisory Services

Sacramento County (the “County”) is seeking proposals from swap advisory firms to provide swap advisory services for the County’s outstanding swap agreements for the 2008 Pension Obligation Bonds (POBs) and the 2007B Water Agency Revenue Bonds all of which are indexed to the Secured Overnight Financing Rate (SOFR). The County’s financing team is currently comprised of PFM Financial Advisors LLC (“PFM”) as Municipal Advisor, Orrick as Bond Counsel, and Stradling Yocca Carlson & Rauth, P.C. as Disclosure Counsel. The County is intending to award a contract for a four-year term, with an option to extend the contract for an additional one year. The County is looking to have advisory services for any ongoing needs related to the County’s existing swap agreements, rate validation services, and advisory services as it relates to analysis around any potential future variable rate/swap agreements. The County is also considering including swap valuation services and GASB 53 and GASB 72 compliance reporting services for the County’s interest rate swaps as a potential second phase of any resulting contract.