Request for Proposals For Services of an Independent Financial Advisor

January 25, 2022

DEADLINE: February 24, 2022

Download the full Request for Proposals For Services of an Independent Financial Advisor PDF

The City of Salem (City) is seeking sealed proposals for the services of an Independent Financial Advisor using the competitive contracting procedure set forth in N.J.S.A. 40A:11-4.1 et seq. The City of Salem is seeking sealed proposals from qualified independent financial advisors to evaluate the City’s water and sewer systems and review, analyze and prepare a report as described below. The Independent Financial Advisor shall evaluate the City’s water and sewer systems and review, analyze and prepare a report on the following:

  1. the value of the systems;
  2. the short and long term impacts to rate-payers of the cash-flow structure of a proposed sale of the utilities; and
  3. provide an estimate as to the financial requirements necessary to address the emergent conditions identified by the City/City’s engineer as set forth in the Emergent Conditions Analysis prepared by Remington and Vernick and to operate and maintain the systems.

A copy of the Instructions, specifications and forms may be obtained from the City Clerk during business hours by contacting the City Clerk, Ben Angeli, at 17 New Market St., Salem New Jersey 08079, telephone 856-935-0372. Instructions, specifications and forms will also be posted on the City website at www.cityofsalemnj.gov.

All proposals shall be submitted using the specified forms and format and delivered to the City Clerk in a sealed envelope marked “Proposals for Independent Financial Advisor Evaluation” no later than Thursday February 24-2022 at 10:00 AM. when the proposals will be opened and read aloud at 17 New Market St., Salem New Jersey. Proposals sent by fax or email will not be accepted. Late proposals will not be accepted.

The City of Salem reserves the right to consider the proposals for sixty (60) days after the receipt thereof, and further reserves the right to reject any or all proposals either in whole or in part and also to waive any informality and make such awards or take action as may be in the best interest of the City of Salem. The award of the contract will be through the competitive contracting process.

The successful contractor shall be required to comply with the requirements of N.J.S.A. 10:5-31 et. seq., N.J.A.C. 17:27 (Affirmative Action), P.L. 1963. C150, and Americans with Disabilities Act of 1990 (42 U.S.C. 12101, et.seq.), N.J.S.A. 52:32-44 (Business Registration) and shall submit proof of the same.

Ben Angeli, Salem City Clerk