Request for Proposals for Credit Facilities to Support LIPA's Variable Rate Debt
Issuance Date - August 2, 2011
Update: August 19, 2011 - Answers to questions received (PDF)
The Long Island Power Authority (“Authority”) hereby solicits proposals from financial institutions (hereinafter referred to as “firms”) in response to this Request For Proposals (“RFP”) to provide credit facilities to support the Authority’s variable rate debt. LIPA may select one or more firms to provide for all or portions of LIPA’s credit facilities requirements.
RFP Downloads
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- Cover Letter (PDF)
- Request for Proposals for Credit Facilities to Support LIPA's Variable Rate Debt (PDF) | Word Format
- Exhibit A: Reimbursement Agreement (PDF) | Word Format
- Exhibit B: Appendix A - LIPA Standard Clauses (New York State Required Terms and Conditions) can be found within RFP
- Exhibit C: State of New York Vendor Responsibility Questionnaire | Instructions - Word Format
- Exhibit D: Estimated Amortization (PDF)
- LIPA CP Program Reimbursement Agreement dated May 1, 2003 (PDF- 8MB)
- LIPA Electric System General Revenue Bond Resolution Adopted May 13, 1998 (PDF- 16MB)
- LIPA Seventh Supplemental General Bond Resolution Series 2003D-O Bonds (PDF)
- LIPA Electric System General Subordinated Revenue Bond Resolution adopted May 20, 1998 (PDF)
- LIPA First Supplemental Subordinate Bond Resolution Series 1 through 6 adopted May 20, 1998 (PDF)
- LIPA Third Subordinate Bond Resolution CP Notes Adopted December 12, 2000 (PDF)
Calendar of Events
The schedule of key dates in this RFP is as follows:
- RFP Issuance...........................................................................August 2, 2011
- Deadline for submission of Questions ..............................August 12, 2011
- Submission of Notice of Intent to Propose.........................August 19, 2011
- Proposal Due Date .................................................................August 25, 2011 - by 3:00PM
- Interviews (if desired) .............................................................TBD
Questions
Any questions regarding this RFP should be submitted in writing and faxed to Mr. Stephen Clark, Executive Director of Finance at (516) 222-9137 on or before August 12, 2011. Responses to any questions received will be posted on LIPA’s website at www.lipower.org as they are received. No other communication of questions and answers will be made.
Notice of Intent
Firms interested in submitting a proposal in response to this RFP should fax a Notice of Intent to Propose to the attention of Mr. Stephen Clark, Executive Director of Finance at (516) 222-9137 on or before August 19, 2011. Such notice should contain the Proposer’s name, address, phone number, e-mail address, contact person, and the scope(s) of services that will be proposed. Submission of a Notice of Intent is not a pre-requisite for submitting a proposal.
Submission of Proposals
Four (4) copies of your proposal and a CD ROM of your proposal in either Microsoft Word or PDF format are due no later than 3:00 p.m. EDT on Thursday, August 25, 2011 in a sealed package or packages. LIPA will not consider proposals received after this deadline. All proposals should be delivered to:
- Long Island Power Authority
333 Earle Ovington Boulevard, Suite 403
Uniondale, NY 11553
Attention: Stephen Clark, Executive Director of Finance
Proposals received after the Proposal Due Date will not be considered, nor will faxed or e-mailed proposals, whenever received. Failure to submit a proposal on time will not be waived by the Authority under any circumstances (e.g., traffic conditions, mail or courier failure, etc.).
The Authority may conduct interviews of those proposers found to be the most qualified to provide the required services. If interviews are conducted, the Proposers selected for an interview will be notified in advance of the interview date(s).
Communication During RFP Process
Other than as provided for in this RFP, any contact with the Authority’s Board members, staff or Authority consultants during the pendency of this RFP may be grounds for disqualification from the RFP process.
Pursuant to State Finance Law sections 139-j and 139-k, this RFP includes and imposes certain restrictions on communications between the Authority and Proposers during the procurement process. A Proposer is restricted from making contacts (i.e., an oral, written or electronic communications which a reasonable person would infer as an attempt to unduly influence the award, denial, or amendment of a contract) from issuance of the RFP through final award and approval of the resulting Procurement Contract by the Authority and the Office of the State Comptroller (“restricted period”) to any Authority staff or Trustee (or consultants) other than as designated herein, unless it is a contact that is included among certain statutory exemptions as set forth in State Finance Law sections 139-j(3) (a). The Authority’s designated staff for this RFP, as of the date hereof, is Herb Hogue, Vice President and Chief Financial Officer, (516) 719-9821; Stephen Clark, Executive Director of Finance, (516) 719-8637; Michael Standridge, Director of Corporate Contracts and Procurement, (516) 719-8620; William Funk, Contract Specialist, (516) 719-9235; from the Authority’s bond counsel, Hawkins Delafield & Wood, Bruce Van Dusen, (212) 820-9307; and from the Authority’s financial advisor, Public Financial Management, Gene Devlin, (914) 921-2849, Michael Mace, (704) 541-8339 and Carolyn Bruch (215) 557-1461.
Please use Michael Standridge as the primary point of contact. Authority staff and Trustees (and consultants) are also required to obtain certain information when contacted during the restricted period and make a determination of the responsibility of the Proposer pursuant to statutory provisions. Certain findings of non-responsibility can result in rejection for contract award, and in the event of two findings within a four (4) year period, the Proposer is debarred from obtaining governmental Procurement Contracts. Further information about these requirements can be found in the Authority’s Guidelines Regarding Procurement Lobbying which is posted on the Authority’s web site for this RFP.
LIPA will not provide reimbursement for any costs or expenses incurred in connection with this RFP, including the costs of preparing and submitting a response, providing any additional information or attending an interview. All material that is submitted in response to this RFP will become the sole property of LIPA. LIPA expressly reserves the right to utilize any and all ideas submitted in the responses received unless covered by legal patent or proprietary rights which must be clearly noted in the response submitted in response to the RFP. See also RFP Section V.C.2.
Contract Period
The Authority is seeking proposals for credit facilities and other credit arrangements (e.g., direct purchases) for periods extending from a minimum of two (2) years and of up to five (5) years, with provisions that would allow LIPA, in its sole discretion, to terminate at any time, upon written notice.
