Palm Beach Sets Firm Pool

Triple-A Palm Beach County plans to establish what is believed to be its first underwriting pool of qualified investment banking firms to serve as senior managers and co-managers for negotiated bond sales and other financial transactions.

In the past, county commissioners have recommended underwriters for the syndicate on each sale.

The county is seeking proposals from underwriting firms, which are due Nov. 15. The request for proposals is posted at www.pbcgov.com/purchasing.

According to the RFP, the county’s capital improvement program currently anticipates bonding for various projects in the amounts of $37 million in fiscal 2011, $79.6 million in 2012, and $177.7 million in 2013.

A selection committee will recommend the new pool Nov. 22. It is expected to be confirmed by the County Commission on Dec. 21.

The new pool will work for the county from Jan. 3, 2011, until Jan. 2, 2014.

For reprint and licensing requests for this article, click here.
MORE FROM BOND BUYER