Ohio Seeks FAs for New Technology Services

CHICAGO — Financial advisers interested in working with Ohio on the financing of $60 million for new information technology services have until next Wednesday to submit proposals. The Office of Budget and Management and the Ohio Office of Information Technology are seeking a firm to advise the state on financing the $45 million to $55 million acquisition of a tax collection and audit software system, and the $10 million to $15 million enhancement of a resource-planning software system.“We anticipate making a selection prior to the Christmas holiday,” said Kurt Kauffman, state debt manager for the budget office. The state is considering a number of options for financing the technology services, including direct payments to vendors, lease purchase agreements with vendors, tax-exempt leasing arrangements offered through financial institutions, and the issuance of certificates of participation.The selected firm is banned from serving as underwriter on the transaction, and the fee will be negotiated after selection but total compensation will be limited to no more than 0.20% of the amount financed, according to the RFQ.