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HomeMy WebLinkAbout188-25 RESOLUTION Page 1 113 West Mountain Street Fayetteville, AR 72701 (479) 575-8323 Resolution: 188-25 File Number: 2025-1282 A RESOLUTION TO APPROVE A ONE-YEAR CONTRACT WITH KUTAK ROCK, LLP PURSUANT TO RFQ 25-06 FOR BOND COUNSEL SERVICES AS NEEDED WITH FOUR ONE-YEAR RENEWAL OPTIONS WHEREAS, Kutak Rock, LLP has provided excellent bond counsel services for various bonds issued by the City of Fayetteville for the last several years; and WHEREAS, a City selection committee reviewed applications from three potential bond counsel firms prior to selecting Kutak Rock, LLP as bond counsel subject to City Council approval. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves the selection of Kutak Rock, LLP as the City’s Bond Counsel pursuant to RFQ 25-06 and authorizes Mayor Rawn to sign a one year contract with Kutak Rock, LLP to serve as the City’s Bond Counsel with four one year renewal options. PASSED and APPROVED on August 19, 2025 Approved: _______________________________ Molly Rawn, Mayor Attest: _______________________________ Kara Paxton, City Clerk Treasurer Mailing address: 113 W. Mountain Street Fayetteville, AR 72701 www.fayetteville-ar.gov CITY COUNCIL MEMO 2025-1282 MEETING OF AUGUST 19, 2025 TO: Mayor Rawn and City Council THRU: Steven Dotson, Chief Financial Officer FROM: Amanda Beilfuss, Procurement Director SUBJECT: Approval of a Contract for Bond Counsel Services RECOMMENDATION: Staff recommends approval of a five-year contract with Kutak Rock LLP, through RFQ 25-06, to provide bond counsel services as needed for the City during the bond issuance process. BACKGROUND: The City issues bonds to provide funding for City Council-approved projects. Due to the complexity and nature of bond issues, the City has a need to acquire third-party legal services in connection with the bond issuance process. DISCUSSION: The City advertised RFQ 25-06, Bond Counsel on March 30, 2025. A total of three (3) firms responded. After meeting on May 27, 2025, the selection committee voted Kutak Rock LLP as the top-ranking firm according to the selection criteria presented in the request for qualifications. The City presents the engagement letter provided by Kutak Rock LLP for consideration. BUDGET/STAFF IMPACT: The cost of bond counsel services is payable from the proceeds of the successful sale of the City’s bonds. ATTACHMENTS: 3. Staff Review Form, 4. Fayetteville Bond Counsel 2025-29 Engagement Letter, 5. RFQ 25- 06, Appendix A - City Issued RFQ, 6. RFQ 25-06, Appendix B - Kutak Rock's Submittal Page 1 City of Fayetteville, Arkansas Legislation Text 113 West Mountain Street Fayetteville, AR 72701 (479) 575-8323 File #: 2025-1282 A RESOLUTION TO APPROVE A ONE-YEAR CONTRACT WITH KUTAK ROCK, LLP PURSUANT TO RFQ 25-06 FOR BOND COUNSEL SERVICES AS NEEDED WITH FOUR ONE-YEAR RENEWAL OPTIONS WHEREAS, Kutak Rock, LLP has provided excellent bond counsel services for various bonds issued by the City of Fayetteville for the last several years; and WHEREAS, a City selection committee reviewed applications from three potential bond counsel firms prior to selecting Kutak Rock, LLP as bond counsel subject to City Council approval. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves the selection of Kutak Rock, LLP as the City’s Bond Counsel pursuant to RFQ 25-06 and authorizes Mayor Rawn to sign a one year contract with Kutak Rock, LLP to serve as the City’s Bond Counsel with four one year renewal options. City of Fayetteville Staff Review Form 2025-1282 Item ID 8/19/2025 City Council Meeting Date - Agenda Item Only N/A for Non-Agenda Item Amanda Beilfuss 7/23/2025 PURCHASING (160) Submitted By Submitted Date Division / Department Action Recommendation: Staff recommends approval of a five-year contract with Kutak Rock LLP, through RFQ 25-06, to provide bond counsel services as needed for the City during the bond issuance process. Budget Impact: N/A N/A Account Number Fund N/A N/A Project Number Project Title Budgeted Item?No Total Amended Budget $- Expenses (Actual+Encum)$- Available Budget $- Does item have a direct cost?No Item Cost $- Is a Budget Adjustment attached?No Budget Adjustment $- Remaining Budget $- V20221130 Purchase Order Number:Previous Ordinance or Resolution # Change Order Number:Approval Date: Original Contract Number: Comments: KUTAKROCK Kutak Rock LLP 124 West Capitol Avenue, Suite 2000, Little Rock, AR 72201-3740 office 501.975.3000 Gordon M. Wilbourn 501.975.3101 gordon.wilbourn@kutakrock.com July 15, 2025 Honorable Molly Rawn City of Fayetteville, Arkansas 113 W. Mountain Fayetteville, AR 72701 Re:City of Fayetteville, Arkansas — 2025-26 Bond Counsel Services Dear Mayor Rawn: The purpose of this engagement letter is to set forth certain matters concerning the services we would expect to perform as bond counsel to the City of Fayetteville, Arkansas (the "City") in connection with its financings and refinancings of various capital improvements and equipment purchases during the calendar years 2025 and 2026 (the "Projects"). We understand that the Projects may be financed utilizing various structures and revenue sources, including, but not limited to, general obligation bonds and notes, utility or other special revenue bonds and notes, sales and use tax bonds, advertising and promotion tax bonds, loans from State of Arkansas revolving loan funds, and lease/purchase arrangements. SCOPE OF ENGAGEMENT (a)Where the issuance of the City's bonds or notes ("Bonds") occurs in connection with this engagement, we would serve as bond counsel ("Bond Counsel") to the City and would expect to perform the following duties for each such issuance: (1)Subject to the completion of proceedings to our satisfaction, render our legal opinion (the "Bond Opinion") regarding the validity and binding effect of the Bonds, the source of payment and security for the Bonds, and the excludability of interest on the Bonds from gross income for federal and Arkansas income tax purposes, where appropriate; (2)Prepare and review resolutions, ordinances, documents and certificates necessary or appropriate to the authorization, issuance and delivery of the Bonds, coordinate the authorization and execution of such resolutions, ordinances, documents and certificates, and review enabling legislation; (3)Assist the City and any underwriter of the Bonds in seeking from other governmental authorities such approvals, permissions and exemptions as we determine are 4899-2668-4501.1 KUTAKROCK Honorable Molly Rawn July 15, 2025 Page 2 necessary or appropriate in connection with the authorization, issuance and delivery of the Bonds; (4)Review legal issues relating to the structure of the Bond issue; (5)Review certified proceedings; (6)Undertake such additional duties as are necessary to render our Bond Opinion; (7)Assist the City in presenting information to bond rating organizations and providers of credit enhancement relating to legal issues affecting the issuance of the Bonds; and (8)Draft the continuing disclosure undertaking of the City. In addition to the customary duties of Bond Counsel set forth above, we understand that we may additionally be asked to (i) draft the Bond Purchase Agreement between the City and the underwriter(s) with respect to the Bonds and (ii) assist the City in preparing the official statement or other offering document (the "Official Statement") with respect to the Bonds, and, subject to the satisfactory completion of our review, provide to the City written advice that, in the course of our participation, no information has come to our attention which leads us to believe that the Official Statement, as of its date (except for the financial statements, other statistical data, feasibility reports and statements of trends and forecasts, and information concerning any credit enhancer and The Depository Trust Company, contained in the Official Statement and its appendices, as to which we will express no belief), contains any untrue statement of material fact or omits to state any material fact necessary to make the statements in the Official Statement, in light of the circumstances under which they were, not misleading. Although it is permissible for Bond Counsel to undertake the activities described in this paragraph, they are often perfoiiiied by counsel to the underwriter. Each Bond Opinion will be addressed to the City and will be delivered by us on the date that an issue of Bonds is exchanged for the purchase price thereof (the "Closing"). Each Bond Opinion will be based on facts and law existing as of its date. In rendering our Bond Opinion, we will rely upon the certified proceedings and other certifications of public officials and other persons furnished to us and we will assume continuing compliance by the City with applicable laws relating to the Bonds. During the course of this engagement, we will rely on the City to provide us with complete and timely information on all developments pertaining to any aspect of each issue of Bonds and their security. 4899-2668-4501.1 KUTAKROCK Honorable Molly Rawn July 15, 2025 Page 3 (b)Where a Project is to be financed through a lease/purchase agreement ("Lease/Purchase Agreement"), we would serve as Bond Counsel to the City in connection with each such Lease/Purchase Agreement and would expect to perform the same or similar duties as those set forth above in connection with the issuance of Bonds, modified as necessary to meet the requirements of the particular leasing program; and (c)Where a Project is to be financed with the proceeds of any sales and use tax or an advertising and promotion tax, whether or not in connection with the issuance of Bonds, we would serve as special counsel to the City with respect to election matters, and would expect to prepare or assist in the preparation of all resolutions, ordinances, ballots and other materials for such election and, upon request, to attend all public meetings relating to such election. Our duties in this engagement are limited to those expressly set forth above. Among other things, our duties will not include, unless otherwise specifically engaged for such purpose: (I)Preparing requests for tax rulings from the Internal Revenue Service, or no action letters from the Securities and Exchange Commission; (II)Drafting state constitutional or legislative amendments; (III)Pursuing test cases or other litigation; (IV)Making any investigation or expressing any view as to the creditworthiness of the City or the Bonds; (V)Representing the City in Internal Revenue Service examinations or inquiries, or Securities and Exchange Commission investigations; or (VI)Except as set forth in (c) above, addressing any other matter not specifically set forth above that is not required to render our Bond Opinion. ATTORNEY-CLIENT RELATIONSHIP Upon execution of this engagement letter, the City will be our client and an attorney-client relationship will exist between us. We assume that all other parties in connection with the issuance of any Bonds or the entry into any Lease/Purchase Agreements will understand that in those transactions we represent only the City, we are not counsel to any other party, and we are not acting as an intermediary among the parties. Our services as counsel to the City are limited to those contracted for herein, and the City's execution of this engagement letter will constitute an acknowledgment of those limitations. Our representation of the City will not affect, however, our responsibility to render objective Bond Opinions where required in connection with this engagement. 4899-26684501.1 KUTAKROCK Honorable Molly Rawn July 15, 2025 Page 4 CONFLICTS During the course of any Bond and lease/purchase financings referenced above, our fiuiii will likely be representing the underwriter(s) of the Bonds or the lessor(s) under Lease/Purchase Agreements in separate unrelated matters. We do not believe such representations, if they occur, will adversely affect our ability to represent you as provided in this letter because such matters will be sufficiently different from the issuance of the Bonds or the entry into the Lease/Purchase Agreement so as to make such representations not adverse to our representation of you. Execution of this letter will signify the City's consent to our representation of said underwriter(s) and lessor(s) consistent with the circumstances described in this paragraph. FEES (a)In connection with each issue of Bonds as described above, we propose Bond Counsel fees as set forth in the following table: Principal Amount Bond Counsel Fee Up to $5,000,000 $35,000 $5,000,001 — $10,000,000 $40,000 $10,000,001 - $15,000,000 $50,000 $15,000,001 - $20,000,000 $60,000 $20,000,001 - $30,000,000 $70,000 $30,000,001 and above $80,000 In the event we are asked to undertake additional duties traditionally performed by underwriter's counsel (including the preparation of the Bond Purchase Agreement and Official Statement), we propose an additional fee of $10,000 in connection with each such issue under $30,000,000 in principal amount and $20,000 in connection with each such issue over $30,000,000 in principal amount. (b)In connection with each Lease/Purchase Agreement as described above, we propose Bond Counsel fees as set forth in the following table: Principal Amount Bond Counsel Fee Up to $5,000,000 $17,500 $5,000,001 — $10,000,000 $20,000 $10,000,001 - $15,000,000 $22,500 $15,000,001 - $20,000,000 $25,000 $20,000,001 - $30,000,000 $30,000 $30,000,001 and above $35,000 4899-2668-4501.1 KUTAKROCK Honorable Molly Rawn July 15, 2025 Page 5 (c)For serving the City as special counsel with respect to election matters as described above, we propose a fee based upon a flat hourly rate of $300 per hour for all attorneys of the firm who perform legal services in connection with such engagement. In addition, with respect to each representation of the City described above, we will expect to be reimbursed for certain out-of-pocket client charges made or incurred on your behalf, such as travel costs, photocopying, deliveries, filing fees, computer-assisted research and other out-of- pocket expenses. We understand and agree that our fees with respect to Bonds and Lease/Purchase Agreements will be paid at the time of Closing of each such financing. If the financing is not consummated, we understand that we will not be paid for time expended on your behalf but will be reimbursed for client charges made or incurred on your behalf. Our fees with respect to election matters will be billed on a monthly basis and are payable irrespective of the submission of questions to the voters or the ultimate approval of questions submitted. If the foregoing terms are acceptable to you, please so indicate by returning the enclosed copy of this engagement letter signed by an appropriate officer, retaining the original for your files. We look forward to working with you. KUTAK ROCK LLP B Accepted and Approved: CITY OF FAYETTEVILLE, ARKANSAS By: Title: Molly Rawn, Mayor Dated: 4899-2668-4501.1 August 19, 2025 City of Fayetteville, AR  RFQ 25‐06, Bond Counsel  Page 1 of 17  City of Fayetteville, Arkansas  Purchasing Division – Room 306  113 W. Mountain  Fayetteville, AR 72701  Phone: 479.575.8256  TDD (Telecommunication Device for the Deaf): 479.521.1316  RFQ 25‐06, Bond Counsel  DEADLINE: Thursday, April 25, 2025 before 2:00 PM, local time  PROCUREMENT DIRECTOR: Amanda Beilfuss, abeilfuss@fayetteville‐ar.gov DATE OF ISSUE AND ADVERTISEMENT: 03/30/2025  REQUEST FOR QUALIFICATION  RFQ 25‐06, Bond Counsel  Late qualifications will not be accepted.  RFQ’s shall be submitted through the City’s third‐party  electronic bidding platform or by submitting a sealed physical proposal to the City of Fayetteville,  Purchasing Division at the below location.   City of Fayetteville  Purchasing Division – Room 306  113 West Mountain Street  Fayetteville, AR 72701  All proposals shall be submitted in accordance with the attached City of Fayetteville specifications  and documents attached hereto.  Each Proposer is required to fill in every blank and shall supply  all information requested; failure to do so may be used as basis of rejection.   The undersigned hereby offers to furnish & deliver the articles or services as specified, at the prices & terms  stated herein, and in strict accordance with the specifications and general conditions of bidding, all of which are  made a part of this offer. This offer is not subject to withdrawal unless upon mutual written agreement by the  Proposer/Bidder and City Procurement Director.  RFQ (REQUEST FOR QUALIFICATIONS) Ap p e n d i x A RF Q 2 5 - 0 6 , B o n d C o u n s e l Cit y I s s u e d R F Q City of Fayetteville, AR  RFQ 25‐06, Bond Counsel  Page 2 of 17  City of Fayetteville  RFQ 25‐06, Bond Counsel  Advertisement    City of Fayetteville, Arkansas   Request for Statements of Qualification  RFQ 25‐06, Bond Counsel    The City of Fayetteville is accepting statements of qualifications from firms capable of providing bond counsel  legal services for one (1) year with four (4) one‐year renewal options, giving a possible contract term of five (5)  years.     To be considered, statements of qualification shall be received electronically through the City of Fayetteville,  Purchasing Division’s online bidding platform by Thursday, April 24, 2025 before 2:00 PM, local time.    The solicitation RFQ & addendums can be downloaded from the City’s web site at http://fayetteville‐ar.gov/bids.   All questions regarding the RFQ process should be directed to Amanda Beilfuss at abeilfuss@fayetteville‐ar.gov  or (479) 575‐8220.    Firms submitting a statement of qualification shall be qualified to do business and licensed in accordance with all  applicable laws of the state and local governments where the project is located. Proposers shall have a current,  valid registration with the Arkansas Secretary of State at time of RFQ deadline OR be able to provide proof of  registration before recommendation of award to Fayetteville City Council.    The City of Fayetteville reserves the right to reject any or all statements of qualifications and to waive irregularities  therein, and all Proposers shall agree that such rejection shall be without liability on the part of the City of  Fayetteville for any damage or claim brought by any Proposer because of such rejections, nor shall the Proposers  seek any recourse of any kind against the City of Fayetteville because of such rejections.  The filing of any Proposal  in response to this invitation shall constitute an agreement of the Proposer to these conditions.                    City of Fayetteville  By: Amanda Beilfuss, Procurement Director  P: 479.575.8220 abeilfuss@fayetteville‐ar.gov   TDD (Telecommunications Device for the Deaf): (479) 521‐1316  Date of advertisement: 03/30/2025  This publication was paid for by the Purchasing Division of the City of Fayetteville, Arkansas.   Amount paid: $150.72  Ap p e n d i x A RF Q 25 - 0 6 , Bo n d Co u n s e l Cit y Iss u e d RF Q City of Fayetteville, AR  RFQ 25‐06, Bond Counsel  Page 3 of 17  City of Fayetteville  RFQ 25‐06, Bond Counsel  SECTION A: General Terms & Conditions     1. SUBMISSION OF A STATEMENT OF QUALIFICATION SHALL INCLUDE:  Each proposal shall contain the following at a minimum.  Proposer must also address detailed requirements  as specified in the Scope of Work.    a. A written narrative describing the method or manner in which the Proposer proposes to satisfy  requirements of this RFQ. The term Proposer shall be in reference to a firm or individual responding to  this solicitation. The term proposal is used in these documents as equal to statement of qualification.       b. A description of the Proposer’s experience in providing the same or similar services as outlined in the RFQ.   This description should include the names of the person(s) who will provide the services, their  qualifications, and the years of experience in performing this type of work.  Also, include the reference  information requested in this RFQ.    c. Statement should be no more than twenty‐five (25) pages; single sided, standard, readable, print on  standard 8.5x11 documents.  Proposers shall also submit a three (3) page (maximum) executive summary.   The following items will not count toward the twenty‐five‐page limitation: appendix, cover sheet, 3‐page  executive summary, resumes (resumes shall be no more than 1 page per person), and forms provided by  the City for completion.    i. Submitting and responding to this RFQ:  Proposals shall be prepared simply and economically,  providing a straightforward, concise description of its ability to meet the requirements for the  project. Fancy bindings, colored displays, and promotional material are not required. Emphasis  should be on completeness and clarity of content. All documents physically submitted should be  typewritten on standard 8 ½” x 11” white pages and bound in one volume. Exceptions would be  schematics, exhibits, one‐page resumes, and City required forms. Limit proposal to twenty‐five  (25) pages or less, excluding one‐page team resumes, references, and forms required by the City  for completion.  All proposals shall be sealed upon delivery to the City of Fayetteville.      1. Option 1 –Electronic Submittal (strongly encouraged): Proposers can go to  www.fayetteville‐ar.gov/bids and follow the prompts to submit a proposal within the  electronic bidding platform.  If a proposal is submitted electronically, a physical submission  is not necessary.  All Proposers must register in order to be able to submit.  There is no fee  for registration.    2. Option 2 – Physical Submittal: All Proposers shall submit one (1) original copy of their  proposal as well as one (1) electronic copy on a properly labeled USB or other electronic  media device. The electronic copy submitted shall be contained into one single electronic  file and shall be identical to the hard copies provided. The use of Adobe PDF documents is  strongly recommended. Files contained on an USB or electronic media shall not be  restricted against saving or printing. Electronic copies shall not be submitted via e‐mail to  City employees by the Proposer and shall be provided to the City in a sealed manner. FedEx,  Ap p e n d i x A RF Q 25 - 0 6 , Bo n d Co u n s e l Cit y Iss u e d RF Q City of Fayetteville, AR  RFQ 25‐06, Bond Counsel  Page 4 of 17  UPS, USPS, or other packages should be clearly marked with the RFQ number on the  outside of the mailing package.    d. Proposals will be reviewed following the stated deadline, as shown on the cover sheet of this  document.  Only the names of Proposer’s will be available after the deadline until a contract has been  awarded by the Fayetteville City Council.  All interested parties understand proposal documents will  not be available until after a valid contract has been executed.    e. Proposers shall submit a statement of qualification based on documentation published by the  Fayetteville Purchasing Division.    f. Proposals must follow the format of the RFQ.  Proposers should structure their responses to follow  the sequence of the RFQ, if provided.    g. Proposers shall have experience in work of the same or similar nature and must provide references  that will satisfy the City of Fayetteville.  Proposer shall furnish a reference list of clients for whom they  have performed similar services and must provide information as requested in this document.    h. Proposer is advised that exceptions to any of the terms contained in this RFQ or the attached service  agreement must be identified in its response to the RFQ.  Failure to do so may lead the City to declare  any such term non‐negotiable.  Proposer’s desire to take exception to a non‐negotiable term will not  disqualify it from consideration for award.    i. Local time shall be defined as the time in Fayetteville, Arkansas on the due date of the deadline.   Documents shall be received before the deadline time as shown by the atomic clock located in the  Purchasing Division Office or electronic clock located in the City’s third‐party bidding software.    2. WRITTEN REQUESTS FOR INTERPRETATIONS OR CLARIFICATION:  No oral interpretations will be made to any firms as to the meaning of specifications or any other contract  documents.  All questions pertaining to the terms and conditions or scope of work of this proposal must be  sent in writing via e‐mail to the Purchasing Department.  Responses to questions may be handled as an  addendum if the response would provide clarification to the requirements of the proposal.  All such addenda  shall become part of the contract documents.  The City will not be responsible for any other explanation or  interpretation of the proposed RFQ made or given prior to the award of the contract.    3. RIGHTS OF CITY OF FAYETTEVILLE IN REQUEST FOR PROPOSAL PROCESS:   In addition to all other rights of the City of Fayetteville, under state law, the City specifically reserves the right  to the following:    a. The City of Fayetteville reserves the right to rank firms and negotiate with the highest‐ranking firm.   Negotiation with an individual Proposer does not require negotiation with others.     b. The City of Fayetteville reserves the right to select the proposal it believes will serve the best interest of  the City.    c. The City of Fayetteville reserves the right to accept or reject any or all proposals.  Ap p e n d i x A RF Q 25 - 0 6 , Bo n d Co u n s e l Cit y Iss u e d RF Q City of Fayetteville, AR  RFQ 25‐06, Bond Counsel  Page 5 of 17  d. The City of Fayetteville reserves the right to cancel the entire request for proposal.    e. The City of Fayetteville reserves the right to remedy or waive technical or immaterial errors in the  request for proposal or in proposals submitted.    f. The City of Fayetteville reserves the right to request any necessary clarifications, additional  information or proposal data without changing the terms of the proposal.    g. The City of Fayetteville reserves the right to make selection of the Proposer to perform the services  required on the basis of the original proposals without negotiation.    4. EVALUATION CRITERIA:  The evaluation criterion defines the factors that will be used by the selection committee to evaluate and score  responsive, responsible and qualified proposals.  Proposers shall include sufficient information to allow the  selection committee to thoroughly evaluate and score proposals.  Each proposal submitted shall be evaluated  and ranked by a selection committee.  The contract will be awarded to the most qualified Proposer, per the  evaluation criteria listed in this RFQ.  Proposers are not guaranteed to be ranked.    5. COSTS INCURRED BY PROPOSERS:  All expenses involved with the preparation and submission of proposals to the City, or any work performed in  connection therewith, shall be borne solely by the Proposer(s).  No payment will be made for any responses  received, or for any other effort required of, or made by, the Proposer(s) prior to contract commencement.    6. ORAL PRESENTATION:  An oral presentation and/or interview may be requested of any firm, at the selection committee’s discretion.    7. CONFLICT OF INTEREST:  a. The Proposer represents that it presently has no interest and shall acquire no interest, either direct or  indirect, which would conflict in any manner with the performance or services required hereunder, as  provided in City of Fayetteville Code Section 34.26 titled “Limited Authority of City Employee to Provide  Services to the City”.    b. The Proposer shall promptly notify Amanda Beilfuss, City Procurement Director, in writing, of all potential  conflicts of interest for any prospective business association, interest, or other circumstance which may  influence or appear to influence the Proposer’s judgment or quality of services being provided.  Such  written notification shall identify the prospective business association, interest or circumstance, the  nature of which the Proposer may undertake and request an opinion to the City as to whether the  association, interest or circumstance would, in the opinion of the City, constitute a conflict of interest if  entered into by the Proposer.  The City agrees to communicate with the Proposer its opinion via e‐mail or  first‐class mail within thirty days of receipt of notification.    8. WITHDRAWAL OF PROPOSAL:  A proposal may be withdrawn prior to the time set for the proposal submittal based on a written request  from an authorized representative of the firm; however, a proposal shall not be withdrawn after the time set  for the proposal.    Ap p e n d i x A RF Q 25 - 0 6 , Bo n d Co u n s e l Cit y Iss u e d RF Q City of Fayetteville, AR  RFQ 25‐06, Bond Counsel  Page 6 of 17  9. LATE PROPOSAL OR MODIFICATIONS:  a. Proposal and modifications received after the time set for the proposal submittal shall not be considered.   Modifications in writing received prior to the deadline will be accepted.  The City will not be responsible  for misdirected bids.  Proposers refer to their submission status in the online bidding portal or call the  Purchasing Division at (479) 575‐8220 to ensure receipt of their submittal documents prior to opening  time and date listed.    b. The time set for the deadline shall be local time for Fayetteville, AR on the date listed.  All proposals shall  be received in the Purchasing Division BEFORE the deadline stated.      10. CONSTITUTIONAL, STATE, AND FEDERAL COMPLIANCE REQUIREMENTS:  The laws of the State of Arkansas apply to any purchase made under this request for proposal.  Proposers  shall comply with all constitutional, state, and federal directives, orders and laws as applicable to this proposal  and subsequent contract(s) including but not limited to Equal Employment Opportunity (EEO), Disadvantaged  Business Enterprises (DBE), & OSHA as applicable to this contract.    11. COLLUSION:  The Proposer, by affixing his or her signature to this proposal, agrees to the following: “Proposer certifies that  their proposal is made without previous understanding, agreement, or connection with any person, firm or  corporation making a proposal for the same item(s) and/or services and is in all respects fair, without outside  control, collusion, fraud, or otherwise illegal action.”    12. RIGHT TO AUDIT, FOIA, AND JURISDICITON:  a. The City of Fayetteville reserves the privilege of auditing a Contractor’s records as such records related to  purchases between the City and said Contractor.    b. Freedom of Information Act: City contracts and documents prepared while performing City contractual  work are subject to the Arkansas Freedom of Information Act.  If a Freedom of Information Act request is  presented to the City of Fayetteville, the (contractor) will do everything possible to provide the documents  in a prompt and timely manner as prescribed in the Arkansas Freedom of Information Act (A.C.A. §25‐19‐ 101 et. seq.).  Only legally authorized photocopying costs pursuant to the FOIA may be assessed for this  compliance.  c. Legal jurisdiction to resolve any disputes shall be Arkansas with Arkansas law applying to the case.    13. CITY INDEMNIFICATION:  The successful Proposer(s) agrees to indemnify the City and hold it harmless from and against all claims,  liability, loss, damage or expense, including but not limited to counsel fees, arising from or by reason of any  actual or claimed trademark, patent or copyright infringement or litigation based thereon, with respect to the  services or any part thereof covered by this order, and such obligation shall survive acceptance of the services  and payment thereof by the City.    14. VARIANCE FROM STANDARD TERMS & CONDITIONS:  All standard terms and conditions stated in this request for proposal apply to this contract except as  specifically stated in the subsequent sections of this document, which take precedence, and should be fully  understood by Proposers prior to submitting a proposal on this requirement.  Ap p e n d i x A RF Q 25 - 0 6 , Bo n d Co u n s e l Cit y Iss u e d RF Q City of Fayetteville, AR  RFQ 25‐06, Bond Counsel  Page 7 of 17  15. ADA REQUIREMENT FOR PUBLIC NOTICES & TRANSLATION:  Persons with disabilities requiring reasonable accommodation to participate in this proceeding/event, should  call 479.521.1316 (telecommunications device for the deaf), no later than seven days prior to the deadline.   Persons needing translation of this document shall contact the City of Fayetteville, Purchasing Division,  immediately.    16. CERTIFICATE OF INSURANCE:  The successful bidder shall provide a Certificate of Insurance in accordance with the following guidelines, prior  to commencement of any work: $1,000,000 Commercial Liability, Statutory Worker’s Compensation, and  General Automotive, if applicable. SUCH CERTIFICATE SHALL LIST THE CITY OF FAYETTEVILLE AS AN  ADDITIONAL INSURED. LISTING THE CITY OF FAYETTEVILLE AS A CERTIFICATE HOLDER ONLY IS NOT AN  ACCEPTABLE SUBSTITUTE. CERTIFICATE OF INSURANCE MUST INCLUDE THE ENDORSEMENT SHOWING THE  CITY OF FAYETTEVILLE LISTED AS AN ADDITIONAL INSURED. Insurance shall remain valid, when applicable,  throughout project/contract completion.    17. PAYMENTS AND INVOICING:  The Proposer must specify in their proposal the exact company name and address which must be the same  as invoices submitted for payment as a result of award of this RFQ.  Further, the successful Proposer is  responsible for immediately notifying the Purchasing Division of any company name change, which would  cause invoicing to change from the name used at the time of the original RFQ.  Payment will be made within  thirty days of invoice received.  The City of Fayetteville is very credit worthy and will not pay any interest or  penalty for untimely payments.  Payments can be processed through Proposer’s acceptance of Visa at no  additional costs to the City for expedited payment processing.  The City will not agree to allow any increase  in hourly rates by the contract without PRIOR Fayetteville City Council approval.    18. CANCELLATION:  a. The City reserves the right to cancel this contract without cause by giving thirty (30) days prior notice to  the Contractor in writing of the intention to cancel or with cause if at any time the Contractor fails to fulfill  or abide by any of the terms or conditions specified.    b. Failure of the contractor to comply with any of the provisions of the contract shall be considered a  material breach of contract and shall be cause for immediate termination of the contract at the discretion  of the City of Fayetteville.    c. In addition to all other legal remedies available to the City of Fayetteville, the City reserves the right to  cancel and obtain from another source, any items and/or services which have not been delivered within  the period of time from the date of order as determined by the City of Fayetteville.      d. In the event sufficient budgeted funds are not available for a new fiscal period, the City shall notify the  Contractor of such occurrence and contract shall terminate of the last day of the current fiscal period  without penalty or expense to the City.    19. ASSIGNMENT, SUBCONTRACTING, CORPORATE ACQUISITIONS AND/OR MERGERS:  a. The Contractor shall perform this contract.  No assignment of subcontracting shall be allowed without  prior written consent of the City.  If a Proposer intends to subcontract a portion of this work, the Proposer  shall disclose such intent in the proposal submitted as a result of this RFQ.    Ap p e n d i x A RF Q 25 - 0 6 , Bo n d Co u n s e l Cit y Iss u e d RF Q City of Fayetteville, AR  RFQ 25‐06, Bond Counsel  Page 8 of 17  b. In the event of a corporate acquisition and/or merger, the Contractor shall provide written notice to the  City within thirty (30) calendar days of Contractor’s notice of such action or upon the occurrence of said  action, whichever occurs first.      20. NON‐EXCLUSIVE CONTRACT:  Award of this RFQ shall impose no obligation on the City to utilize the Contractor for all work of this type,  which may develop during the contract period.  This is not an exclusive contract.  The City specifically reserves  the right to concurrently contract with other law firms for similar work if it deems such an action to be in the  City’s best interest.  In the case of multiple‐phase contracts, this provision shall apply separately to each item.    21. LOBBYING:  Lobbying of selection committee members, City of Fayetteville employees, or elected officials regarding  request for proposals, request for qualifications, bids or contracts, during the pendency of bid protest, by the  bidder/proposer/protestor or any member of the bidder’s/proposer’s/protestor’s staff, and agent of the  bidder/proposer/protestor, or any person employed by any legal entity affiliated with or representing an  organization that is responding to the request for proposal, request for qualification, bid or contract, or has a  pending bid protest is strictly prohibited either upon advertisement or on a date established by the City of  Fayetteville and shall be prohibited until either an award is final or the protest is finally resolved by the City  of Fayetteville; provided, however, nothing herein shall prohibit a prospective/bidder/proposer from  contacting the Purchasing Division to address situations such as clarification and/or questions related to the  procurement process.  For purposes of this provision lobbying activities shall include but not be limited to,  influencing or attempting to influence action or non‐action in connection with any request for proposal,  request for qualification, bid or contract through direct or indirect oral or written communication or an  attempt to obtain goodwill of persons and/or entities specified in this provision.  Such actions may cause any  request for proposal, request for qualification, bid or contract to be rejected.    22. ADDITIONAL REQUIREMENTS:  The City reserves the right to request additional services relating to this RFQ from the Proposer.  When  approved by the City as an amendment to the contract and authorized in writing prior to work, the Contractor  shall provide such additional requirements as may become necessary.    23. SERVICES AGREEMENT:  A written agreement, in substantially the form attached, incorporating the RFQ and the successful proposal  will be prepared by the City, signed by the successful Proposer and presented to the City of Fayetteville for  approval and signature of the Mayor.    24. INTEGRITY OF REQUEST FOR QUALIFICATION (RFQ) DOCUMENTS:  Proposers shall use the original RFQ form(s) provided by the Purchasing Division and enter information only  in the spaces where a response is requested.  Proposers may use an attachment as an addendum to the RFQ  form(s) if sufficient space is not available on the original form for the Proposer to enter a complete response.   Any modifications or alterations to the original RFQ documents by the Proposer, whether intentional or  otherwise, will constitute grounds for rejection of such RFQ response.  Any such modifications or alterations  a Proposer wishes to propose shall be clearly stated in the Proposer’s RFQ response and presented in the  form of an addendum to the original RFQ documents.      Ap p e n d i x A RF Q 25 - 0 6 , Bo n d Co u n s e l Cit y Iss u e d RF Q City of Fayetteville, AR  RFQ 25‐06, Bond Counsel  Page 9 of 17  25. OTHER GENERAL CONDITIONS:  a. Proposers must provide the City with their proposals signed by an employee having legal authority to  submit proposals on behalf of the Proposer.  The entire cost of preparing and providing responses shall  be borne by the Proposer.    b. The City reserves the right to request any additional information it deems necessary from any or all  Proposers after the submission deadline.     c. This solicitation is not to be construed as an offer, a contract, or a commitment of any kind; nor does it  commit the City to pay for any costs incurred by Proposer in preparation.  It shall be clearly understood  that any costs incurred by the Proposer in responding to this request for proposal is at the Proposer's own  risk and expense as a cost of doing business.  The City of Fayetteville shall not be liable for reimbursement  to the Proposer for any expense so incurred, regardless of whether or not the proposal is accepted.    d. If products, components, or services other than those described in this bid document are proposed, the  Proposer must include complete descriptive literature for each.  All requests for additional information  must be received within five working days following the request.    e. Any uncertainties shall be brought to the attention to Amanda Beilfuss immediately via telephone  (479.575.8220) or e‐mail (abeilfuss@fayetteville‐ar.gov).  It is the intent and goal of the City of Fayetteville  Purchasing Division to provide documents providing a clear and accurate understanding of the scope of  work to be completed and/or goods to be provided.  We encourage all interested parties to ask questions  to enable all Proposers to be on equal terms.    f. No oral interpretation or clarifications will be given as to the meaning of any part of this request for  qualification.  All questions, clarifications, and requests, together with answers, if any, will be provided to  all firms via written addendum.  Names of firms submitting any questions, clarifications, or requests will  not be disclosed until after a contract is in place.    g. At the discretion of the City, one or more firms may be asked for more detailed information before final  ranking of the firms, which may also include oral interviews.    h. Any information provided herein is intended to assist the Proposer in the preparation of proposals  necessary to properly respond to this RFQ. The RFQ is designed to provide qualified Proposers with  sufficient, basic information to submit proposals meeting minimum specifications and/or test  requirements but is not intended to limit a RFQ’s content or to exclude any relevant or essential data.    i. Proposers irrevocably consent that any legal action or proceeding against it under, arising out of or in any  manner relating to this Contract shall be controlled by Arkansas law.  Proposer hereby expressly and  irrevocably waives any claim or defense in any said action or proceeding based on any alleged lack of  jurisdiction or improper venue or any similar basis.    j. The successful Proposer shall not assign the whole or any part of this Contract or any monies due or to  become due hereunder without written consent of City of Fayetteville.  In case the successful Proposer  assigns all or any part of any monies due or to become due under this Contract, the Instrument of  assignment shall contain a clause substantially to the effect that it is agreed that the right of the assignee in  Ap p e n d i x A RF Q 25 - 0 6 , Bo n d Co u n s e l Cit y Iss u e d RF Q City of Fayetteville, AR  RFQ 25‐06, Bond Counsel  Page 10 of 17  and to any monies due or to become due to the successful Proposer shall be subject to prior liens of all  persons, firms, and corporations for services rendered or materials supplied for the performance of the  services called for in this contract.    k. The successful Proposer's attention is directed to the fact that all applicable Federal and State laws,  municipal ordinances, and the rules and regulations of all authorities having jurisdiction over the services  shall apply to the contract throughout, and they will be deemed to be included in the contract as though  written out in full herein.  The successful Proposer shall keep himself/herself fully informed of all laws,  ordinances and regulations of the Federal, State, and municipal governments or authorities in any manner  affecting those engaged or employed in providing these services or in any way affecting the conduct of the  services and of all orders and decrees of bodies or tribunals having any jurisdiction or authority over same.   If any discrepancy or inconsistency should be discovered in these Contract Documents or in the  specifications herein referred to, in relation to any such law, ordinance, regulation, order or decree, s/he  shall herewith report the same in writing to the City of Fayetteville.                                          CONTINUES ON NEXT PAGE  Ap p e n d i x A RF Q 25 - 0 6 , Bo n d Co u n s e l Cit y Iss u e d RF Q City of Fayetteville, AR  RFQ 25‐06, Bond Counsel  Page 11 of 17  City of Fayetteville  RFQ 25‐06, Bond Counsel  SECTION B: Scope of Services and General Information    1. COMMUNITY OVERVIEW:  The City of Fayetteville, Arkansas, County Seat of Washington County is located in the northwest corner of  Arkansas.  It is a city of the first class in the State of Arkansas with an approximate population of 100,000  citizens and a regional population base of over 550,000.  Fayetteville is home to the principal campus of the  University of Arkansas, which has contributed to higher education in the area for over 100 years.    2. CAPITAL FINANCIAL PLANNING:  The northwest Arkansas region has witnessed explosive growth and development over the past twenty‐five  (25) years.  This growth has heavily taxed infrastructure capacity of Fayetteville and its neighboring  communities.  The City of Fayetteville develops on a biennial basis a Five‐Year Capital Improvements Program  (CIP).  The City’s philosophy concerning the use of the CIP is that it should be considered as a financial planning  tool that lists the City’s capital improvement projects, places the projects in a priority order, and schedules  the projects for funding and implementation.  The City has historically funded the CIP primarily on a pay‐as‐ you‐go basis.  However, for major construction projects such as water and sewer system improvements, road  projects, trail projects and building projects, Sales and Use Tax bonds and revenue bonds have been issued.  The City has also issued Amendment 78 bonds for short term obligations.    3. CURRENT BOND ISSUES:  In 2019, a referendum was passed by the voters of Fayetteville that authorized the issuance of $226 million  of Sales and Use Tax Capital Bonds. In the ordinance passed by the City Council for these bonds, Kutak Rock,  LLP was engaged as bond counsel and Stephens, Inc. was engaged as underwriter for the issue.     4. FUTURE BOND ISSUES:  The City is currently evaluating a potential future bond issue.    5. INTENT:  All submitted proposals received will be maintained on file through the end of 2026. The City intends to select  a primary counsel for the entire term of the request and reserves the right to select other firms if specialized  qualifications are needed.      6. SCOPE OF WORK:    In serving as bond counsel to the City, the selected firm will be expected to perform said scope of services.   Also, all statements shall indicate compliance with the following requested Scope of Work:  a. Communicate with members of City staff as necessary to assist in planning the financing and  structuring of the designated bond issuance.  b. Opine that the issuer is duly created and validly existing as the body of the State of Arkansas with  authority to adopt legislation relating to the issuance of bonds and has the legal authority to issue  bonds.    Ap p e n d i x A RF Q 25 - 0 6 , Bo n d Co u n s e l Cit y Iss u e d RF Q City of Fayetteville, AR  RFQ 25‐06, Bond Counsel  Page 12 of 17  c. Review documents prepared by other counsels that may be involved in the financing team and express  an opinion on said bonds as requested.    d. Prepare trust indentures, bond ordinances and/or resolutions, arbitrage certificate, notices of sale,  tax certificates, and other related legal documents.    e. Assist in various aspects of preparing the preliminary and final Official Statements or any other related  disclosure documents to be distributed in connection with the sale of bonds.    f. Issue interim and final approving opinions, as required, concerning matters of legality and tax  exemption under federal and state securities laws.    g. Advise and assist in planning the procedures and documentation necessary for utilizing the bond  proceeds for the proposed project(s).    h. Advise and assist in planning for the sale of bonds.    i. Attend City Council meetings to answer questions and provide presentations and updates on matters  of concern to the legislative body.    j. Supervise the printing and delivery of the bonds.    k. Prepare any required legal research, correspondence, and preparation of memoranda or other  documents related to the issuance of the bonds or the planning and construction of the project as  required.    7. OTHER WORK IF NEEDED:  a. Prepare documentation necessary to allow for local interim financing pending issuance of the  definitive bonds, if required due to market conditions.    b. Assist with and prepare for rating agency hearings including attendance at meetings and follow‐up on  any detailed information requested.    8. STATEMENT OF QUALIFICATION SUBMITTAL:    Statements of qualification shall not include any pricing information.  Price will be negotiated with the firm  recommended most qualified by the selection committee and shall not be included in any firm’s response or  statement of qualification.  In responding to this request for statement of qualifications, firms should include  the following information in addition to other requested information and pertinent company information  related to the selection criteria:  a. Statements should be prepared simply and economically, providing a straightforward, concise  description its ability to meet the requirements for the project.  Fancy bindings, colored displays, and  promotional material are not required.  Emphasis should be on completeness and clarity of content.  All documents should be typewritten on standard 8 ½” x 11” white pages and bound in one volume.   Exceptions would be schematics, exhibits, or other information necessary to facilitate the City of  Ap p e n d i x A RF Q 25 - 0 6 , Bo n d Co u n s e l Cit y Iss u e d RF Q City of Fayetteville, AR  RFQ 25‐06, Bond Counsel  Page 13 of 17  Fayetteville’s ability to accurately evaluate the proposal.  Limit proposal to twenty‐five (25) pages or  less, excluding one‐page team resumes and City required forms and requested items.    b. Resumes of all key persons from the firm who are expected to be involved in the scope of work as  outlined above.  Resumes should be limited to one (1) page.  i. Experience with different municipal debt structure types and amounts of debt;  ii. Knowledge of federal and state tax and disclosure laws and regulations as they pertain to  municipal debt;  iii. Experience in drafting legal documents relating to municipal debt issuance;  iv. Position title, company tenure, experience, other relative information    c. A client reference list for which similar work has been performed within the past five (5) years.    d. Include any other information that might be helpful to assist the City in understanding the firm’s  unique qualifications to perform bond counsel services for the City of Fayetteville.    e. Company:  i. Experience: Proposer shall provide a detailed description of similar city and/or county projects  or contracts that currently use the proposed system, completed and/or presently provided  during the past five (5) years.  Provide complete contact information, name, address, phone  and emails for all references.    ii. Company Principals:  Provide a brief biographic overview of the Company’s key principals.  iii. Capabilities:  Proposer shall provide a description of limitations relative to facilities, staff  personnel, on‐going projects/ contracts, etc.  Specifically, provide statement of qualification  what priority will be placed on this project.  iv. Company Organization:   1. Primary Business:  Proposers shall describe company’s primary business interest and/or  operations including organization and affiliations.  Include the magnitude of your  operation as it relates to this project.  2. Company History:  Provide pertinent company historical information that will  demonstrate your capability to successfully accomplish this project.    9. CONTRACT FORMATION:  If the negotiation produces mutual agreement, the draft contract as a part of this package will be constructed  and forwarded to the Fayetteville City Council for approval. If negotiations with the highest‐ranking Proposer  fail, negotiations shall be initiated with the next highest‐ranking Proposer until an agreement is reached.  The  City reserves the right to reject all offers and end the process without executing a contract.       10. TERM OF CONTRACT:  Ap p e n d i x A RF Q 25 - 0 6 , Bo n d Co u n s e l Cit y Iss u e d RF Q City of Fayetteville, AR  RFQ 25‐06, Bond Counsel  Page 14 of 17  The initial term of the contract shall be for a period of one (1) year, starting with the date approved by the  Fayetteville City Council.  The contract shall be renewable by mutual consent, at a mutually agreed fee for work  assigned on an annual basis thereafter for four (4) additional years, for a total contract term of five (5) years.  In  the event of termination, claims for compensation owed the consultant by the City shall be limited to verifiable  services rendered.  The City reserves the right not to use the “primary” contract solely.  The City reserves the  right to contract with any firm responding to this request, based on specific project needs and experience  needed.    11. DEMONSTRATION & ORAL PRESENTATION:   a. Following the evaluation of the proposals, the Selection Committee may request that the top‐ranking  firms make an oral presentation or be interviewed.  If presentations are necessary, they will take place  in Fayetteville, Arkansas.  Notices will be sent by the Purchasing Division.  b. A demonstration of the system may be required before a final decision is made.  The Purchasing  Division will schedule all demonstrations.    12. SELECTION CRITERIA:  The evaluation criterion below defines the factors which will be used by the selection  committee to evaluate and score responsive, responsible and qualified proposals.  The evaluation factors are  as follows:   30 Points – Specialized experience and technical competence of the firm with respect to the type  of professional services required.     25 Points – Capacity and capability of the firm to perform the work in question including  specialized services, within the time limitations fixed for the completion of the project.     25 Points – Past record of performance of the firm with respect to such factors as quality of work  and ability to meet schedules and deadlines.     20 Points – Firm’s proximity to and familiarity with the area in which the project is located.    ****NOTE: Fees shall NOT be included with any statement of qualification. Price shall not be a considered a  factor used to select a vendor. Price and fees will not be considered until the negotiating process and will not  be a factor in the award of any proposed contract.  In the event the City is not able to negotiate a successful  contract with the selected vendor, the City reserves the right to cease negotiations with such selected vendor  and proceed on to the next selected vendor.                        Ap p e n d i x A RF Q 25 - 0 6 , Bo n d Co u n s e l Cit y Iss u e d RF Q City of Fayetteville, AR  RFQ 25‐06, Bond Counsel  Page 15 of 17  City of Fayetteville  RFQ 25‐06, Bond Counsel  SECTION C: Signature Submittal    1.  DISCLOSURE INFORMATION  a. Proposer must disclose any possible conflict of interest with the City of Fayetteville, including, but not  limited to, any relationship with any City of Fayetteville employee.  Proposer response must disclose if a  known relationship exists between any principal or employee of your firm and any City of Fayetteville  employee or elected City of Fayetteville official.    i. If, to your knowledge, no relationship exists, this should also be stated in your response.  Failure  to disclose such a relationship may result in cancellation of a purchase and/or contract as a result  of your response.  This form must be completed and returned in order for your bid/proposal to be  eligible for consideration.      PLEASE CHECK ONE OF THE FOLLOWING TWO OPTIONS, AS IT APPROPRIATELY APPLIES TO YOUR FIRM:    ___________1) NO KNOWN RELATIONSHIP EXISTS    ___________2) RELATIONSHIP EXISTS (Please explain): _______________________________________  ___________________________________________________________________________________  ___________________________________________________________________________________    b. I certify that; as an officer of this organization, or per the attached letter of authorization, am duly  authorized to certify the information provided herein is accurate and true; and my organization shall  comply with all State and Federal Equal Opportunity and Non‐Discrimination requirements and conditions  of employment.    c. Proposer agrees that they shall have a current, valid registration with the Arkansas Secretary of State at  time of RFQ deadline OR be able to provide proof of registration before recommendation of award to  Fayetteville City Council.    d. Pursuant Arkansas Code Annotated §25‐1‐503, the Contractor agrees and certifies that they do not  currently boycott Israel and will not boycott Israel during any time in which they are entering into, or while  in contract, with any public entity as defined in §25‐1‐503.  If at any time during contract the contractor  decides to boycott Israel, the contractor must notify the contracted public entity in writing.    e. Pursuant Arkansas Code Annotated §25‐1‐1002, the Contractor agrees and certifies that they do not  currently boycott Energy, Fossil Fuel, Firearms, and Ammunition Industries during any time in which they  are entering into, or while in contract, with any public entity as defined in §25‐1‐1002. If at any time during  the contract the contractor decides to boycott Energy, Fossil Fuel, Firearms, and/or Ammunition  Industries, the contractor must notify the contracted public entity in writing.  Ap p e n d i x A RF Q 25 - 0 6 , Bo n d Co u n s e l Cit y Iss u e d RF Q City of Fayetteville, AR  RFQ 25‐06, Bond Counsel  Page 16 of 17  2. PRIMARY CONTACT INFORMATION  At the discretion of the City, one or more firms may be asked for more detailed information before final  ranking of the firms, which may also include oral interviews. NOTE: Each Proposer shall submit to the City a  primary contact name, e‐mail address, and phone number (preferably a cell phone number) where the City  selection committee can call for clarification or interview via telephone.     Corporate Name of Firm: ___________________________________________________________________    Primary Contact: ____________________________ Title of Primary Contact: _________________________    Phone#1 (cell preferred): ____________________________Phone#2: ______________________________    E‐Mail Address: __________________________________________________________________________      3.  ACKNOWLEDGEMENT OF ADDENDA  Acknowledge receipt of addenda for this invitation to bid, request for proposal, or request for qualification  by signing and dating below.  All addendums are hereby made a part of the bid or RFQ documents to the same  extent as though it were originally included therein. Proposers/Bidders should indicate their receipt of same  in the appropriate blank listed herein. Failure to do so may subject Contractor to disqualification.     ADDENDUM NO. SIGNATURE AND PRINTED NAME DATE ACKNOWLEDGED                                      4. DEBARMENT CERTIFICATION:    a. As an interested party on this project, you are required to provide debarment/suspension certification  indicating compliance with the below Federal Executive Order.  Certification can be done by completing  and signing this form.      b. Federal Executive Order (E.O.) 12549 “Debarment and Suspension“ requires that all contractors receiving  individual awards, using federal funds, and all sub‐recipients certify that the organization and its principals  are not debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded by any  Federal department or agency from doing business with the Federal Government.    c. Signature certifies that neither you nor your principal is presently debarred, suspended, proposed for  debarment, declared ineligible, or voluntarily excluded from participation in this transaction by any  federal department or agency.        Ap p e n d i x A RF Q 25 - 0 6 , Bo n d Co u n s e l Cit y Iss u e d RF Q City of Fayetteville, AR  RFQ 25‐06, Bond Counsel  Page 17 of 17  5. SIGNATURE SUBMITTAL     NAME OF COMPANY: _____________________________________________________________________    PHYSICAL ADDRESS: ______________________________________________________________________    MAILING ADDRESS: _______________________________________________________________________    TAX ID #: __________________________ AR. SECRETARY OF STATE FILING #: ________________________    PHONE: _________________________________________ FAX: ___________________________________    E‐MAIL: ________________________________________________________________________________    By submitting your response, you certify that you are authorized to represent and bind your company :    SIGNATURE: _____________________________________________________________________________    PRINTED NAME: _________________________________________________________________________    TITLE: _______________________________________ DATE: _____________________________________                                 END OF RFQ DOCUMENT    Ap p e n d i x A RF Q 25 - 0 6 , Bo n d Co u n s e l Cit y Iss u e d RF Q RFQ 25-06 Kutak Rock LLP Supplier Response Event Information Number:RFQ 25-06 Title:Bond Counsel Type:Request for Qualifications Issue Date:3/30/2025 Deadline:4/24/2025 02:00 PM (CT) Notes:The City of Fayetteville is accepting statements of qualifications from firms capable of providing bond counsel legal services for one (1) year with four (4) one-year renewal options, giving a possible contract term of five (5) years. Any questions regarding this RFP shall be directed to Amanda Beilfuss, City of Fayetteville Procurement Director at abeilfuss@fayetteville-ar.gov or (479) 575-8220. Contact Information Contact:Amanda Beilfuss Address:Purchasing Room 306 City Hall 113 West Mountain Street - Room 306 Fayetteville, AR 72701 Email:abeilfuss@fayetteville-ar.gov Vendor: Kutak Rock LLP RFQ 25-06Page 1 of 2 pages Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Kutak Rock LLP Information Address:124 West Capitol Avenue Suite 2000 Little Rock, AR 72201 Phone:(501) 975-3000 By submitting your response, you certify that you are authorized to represent and bind your company. Lauren Rucker lauren.rucker@kutakrock.com Signature Email Submitted at 4/24/2025 10:48:43 AM (CT) Requested Attachments RFQ 25-06, Bond Counsel Kutak Rock Responds to City of Fayetteville RFQ 25-06.pdf Please attach the signed and completed RFQ form, located in the 'Attachments' tab, along with statement of qualifications. Bid Attributes 1 Check Yes or No: Pursuant Arkansas Code Annotated §25-1-503, the Contractor agrees and certifies that they do not currently boycott Israel and will not boycott Israel during any time in which they are entering into, or while in contract, with any public entity as defined in §25-1-503. If at any time during contract the contractor decides to boycott Israel, the contractor must notify the contracted public entity in writing. Yes, I agree No, I don't agree 2 Check Yes or No: Pursuant Arkansas Code Annotated §25-1-1002, the Contractor agrees and certifies that they do not currently boycott Energy, Fossil Fuel, Firearms, and Ammunition Industries during any time in which they are entering into, or while in contract, with any public entity as defined in §25-1-1002. If at any time during the contract the contractor decides to boycott Energy, Fossil Fuel, Firearms, and/or Ammunition Industries, the contractor must notify the contracted public entity in writing. Yes, I agree No, I don't agree 3 Addendum Acknowledgement By selecting "I agree", you acknowledge that you have read all addendum(s) that have been issued for this solicitation, if applicable. I agree Vendor: Kutak Rock LLP RFQ 25-06Page 2 of 2 pages Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services City of Fayetteville April 24, 2025 kutakrock.com Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Kutak Rock LLP 124 West Capitol Avenue, Suite 2000 Little Rock, Arkansas 72201 office 501.975.3000 Gordon M. Wilbourn 501.975.3101 gordon.wilbourn@kutakrock.com April 24, 2025 Via Portal Amanda Beilfuss Procurement Director City of Fayetteville 113 West Mountain Street, Room 306 Fayetteville, Arkansas 72701 abeilfuss@fayetteville‐ar.gov Re: Qualifications to Provide Bond Counsel Services Dear Ms. Beilfuss, Kutak Rock is pleased to submit the enclosed statement of qualifications to the City of Fayetteville (the “City”) to provide bond counsel services to the City for one (1) year with four (4) one-year renewal options, giving a possible contract term of five (5) years. We have attempted to provide sufficient detail in our proposal to enable you to evaluate our qualifications for engagement. Kutak Rock is a national law firm that specializes in state and local government financing. Widely recognized for creativity, the firm has been recognized as one of the most active bond counsel firms in the nation, based on dollar volume of financings, in annual industry rankings in every year since such statistics became available in the mid-1980s. For 2024, Kutak Rock was again ranked the number one bond counsel in the nation, based on number of financings completed in the role. Our extraordinary dedication to client service has often caused us to seek out innovative approaches in the tax and bond structuring arenas in order to achieve the financing goals of our clients. As a result of our willingness to look at new and different ways to satisfy client needs, the firm has often participated in transactions selected by Institutional Investor and The Bond Buyer as their “Deals of the Year.” As our qualifications statement explains, Kutak Rock has substantial experience providing legal services to Arkansas governmental entities in a variety of bond financings. In recent years the firm has provided bond counsel services to the City of Fayetteville in connection with water and sewer, streets, trails, public safety, public parking, library and parks improvements and other capital improvement projects. We have also served as bond counsel to such entities as the Arkansas Development Finance Authorit y, the City of Little Rock, the City of North Little Rock, the City of Conway, the Pulaski County Public Facilities Board, Board, the City of Siloam Springs Public Facilities Board, the City of Mountain Home, the City of Clarksville, the City of Pine Bluff, the City of Pine Bluff, Arkansas Convention Center and Hotel Public Facilities Board, the City of Texarkana, North Arkansas College, Southeast Arkansas College, Washington County, Baxter County, Boone County, Johnson County, Phillips County, Saline County and Van Buren County, among others. Kutak Rock also has substantial experience serving as bond counsel to municipal governments outside Arkansas. For example, we currently serve as bond counsel to the City and County of Denver, the City of Los Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Angeles, the City of Omaha, the City of Boulder and Boulder County, Colorado, among a number of others. In some of these engagements we handle all financings for the governmental entity, and in others we serve for only discrete programs. These engagements have provided the firm with a vast store of experience to draw on when acting as bond counsel to cities and counties. Providing outstanding service to clients is our firm’s paramount objective. Our commitment to service results from our core attitudes and culture and from our experience and expertise. We understand and emphasize the importance of being available, responsive and efficient, and we are extremely proud of our efforts in assisting our clients in achieving their goals and objectives, particularly when such efforts require the creation of innovative financing techniques. Thank you for the opportunity to present the firm’s qualifications. If you should have any questions about our proposal or about the firm, please contact me at 501.975.3101 or gordon.wilbourn@kutakrock.com. Sincerely, Gordon M. Wilbourn Enclosure Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services Table of Contents | kutakrock.com Table of Contents Introduction ......................................................................................................................................................... 1 Executive Summary .............................................................................................................................................. 2 Statement of Qualifications ................................................................................................................................. 4 B. Résumés of Key Personnel .............................................................................................................. 4 C. Client References............................................................................................................................. 5 D. Other Information ........................................................................................................................... 6 E. Qualifications of Firm ...................................................................................................................... 8 i. Experience ................................................................................................................... 8 ii. Company Principals ................................................................................................... 18 iii. Capabilities ................................................................................................................ 19 iv. Company Organization ............................................................................................. 21 1. Primary Business ................................................................................................ 21 2. Company History ................................................................................................ 22 Appendix A: Signature Submittal Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 1 | kutakrock.com Introduction Kutak Rock LLP is a national firm of more than 550 lawyers with offices in Atlanta, Chicago, Denver, Fayetteville, Irvine, Kansas City, Los Angeles, Little Rock, Minneapolis, Omaha, Philadelphia, Richmond, Rogers, Scottsdale, Spokane, Springfield, Tallahassee, Washington, D.C. and Wichita. The firm serves local, regional and national clients in a multidisciplinary practice. We encourage our attorneys to take advantage of the national resources and broad range of expertise the firm offers in order to provide the best legal services possible to our clients. Founded as a three-lawyer practice in 1965, the firm has risen to prominence through its dedication to service and its ability to create innovative solutions to satisfy clients’ needs. Kutak Rock’s expansion to cities across the country, paralleling the firm’s growth in reputation, demonstrates the entrepreneurial spirit that is the firm’s hallmark. The firm has represented hundreds of state and local governmental units, every major investment banking firm in the United States, a substantial number of Fortune 500 corporations, major European, Asian and domestic money center banks, insurance companies, national real estate investors and developers, major national franchising enterprises and numerous other financial institutions and businesses. Providing outstanding service to clients is Kutak Rock’s paramount objective. The firm is committed to establishing and maintaining mutually beneficial professional relationships by providing timely, innovative, high-quality legal services responsive to the needs of its clients. This proposal, submitted in response a Request for Qualifications from the City of Fayetteville (the “City”), contains Kutak Rock’s qualifications to provide bond counsel services to the City for one (1) year with four (4) one-year renewal options, giving a possible contract term of five (5) years. The proposal addresses each of the City’s information requests in sequence. Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 2 | kutakrock.com Executive Summary Kutak Rock is pleased to have this opportunity to submit our qualifications to serve as bond counsel to the City of Fayetteville. The attached proposal contains our credentials for serving as bond counsel for various types of financings and identifies attorneys in the firm who are qualified to provide the requested services. Kutak Rock is a nationally recognized public finance law firm with offices in 19 cities, including offices in Little Rock, Fayetteville and Rogers, Arkansas. Attorneys based in the Little Rock office would be responsible for providing most of the bond counsel services to the City. In Arkansas, the firm has served as bond counsel, special tax counsel, underwriter’s counsel, disclosure counsel and credit enhancer’s counsel in financings for a wide variety of municipal and state projects. Firm records show that Kutak Rock has provided services in more than 600 Arkansas bond issues with an aggregate principal amount exceeding $20 billion. Kutak Rock served as bond counsel in more than 340 of such financings aggregating more than $9.5 billion. In recent years the firm has served as bond counsel to a number of Arkansas municipal entities in connection with their public financings. Such issuers include the City of Fayetteville, the City of Little Rock, the City of North Little Rock, the City of Conway, the City of Clarksville, the City of Pine Bluff, the City of Texarkana, the City of Mountain Home, the City of Lowell, the City of Rison and the City of Tontitown, among many others. We have been pleased to serve as bond counsel to the City since 2000. In connection with the City’s Sales and Use Tax Capital Improvement Bond program, the firm has served as bond counsel to the City for nine new- money issues and two refundings aggregating $279.7 million and $196.4 million, respectively. In addition, we note that Gordon Wilbourn, the partner proposed to serve as the lead attorney for the City’s financings, has served as lead bond counsel to the City for a total of 27 issues since 1999 with an aggregate principal amount exceeding $660 million. Kutak Rock has participated in more than 375 tax-backed revenue bond issues having a total principal amount of more than $18 billion, having served as bond counsel for sales tax revenue bond issues of the Cities of Fayetteville, Conway and Clarksville, Arkansas, the Los Angeles County Metropolitan Transportation Authority, the State of Illinois, the Cities of Boulder and Colorado Springs, Colorado and the Cities of Wichita and Overland Park, Kansas, among many others. The firm has also accrued significant experience providing legal services to municipal issuers of debt to finance water and sewer system projects. In the last five years alone, Kutak Rock has provided legal services in more than 230 bond issues for water and sewer facilities having an aggregate principal amount exceeding $7.9 billion for issuers large and small—for states and major metropolitan areas as well as townships and villages. Kutak Rock has taken part as bond counsel, underwriter’s counsel or special tax counsel or in miscellaneous other roles in more than 600 financings involving tax anticipation notes (TANs), tax and revenue anticipation notes (TRANs), commercial paper and similar short-term financing instruments. These transactions, completed for state and local governments in 38 states and the District of Columbia, have an aggregate principal amount in excess of $60.9 billion. We have been gratified to serve as bond counsel to the City and to various other Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 3 | kutakrock.com Arkansas cities and counties in connection with numerous short-term general obligation (Amendment 78) and special revenue (Amendment 65) financings. The attorneys we propose to provide services to the City are highly experienced lawyers with expertise in Arkansas state law and in sales and use tax and revenue bond financings, water and wastewater finance and general obligation bonds, as well as financings with industrial development or economic development authorities, community development authorities and regional jail authorities. Gordon Wilbourn, who would coordinate matters with the City, has many years’ experience as bond counsel to Arkansas municipalities. Our local Arkansas lawyers are backed up by a group of more than 130 public finance lawyers nationwide whose expertise is readily available to assist with any unusual issue that may arise in connection with a City financing. The firm has a nine-member Internal Revenue Code Section 103 (tax-exempt public finance) Tax Department that works as a well-coordinated unit, sharing viewpoints on tax issues and coming to a consensus on difficult questions. Matters related to arbitrage are a major area of their expertise. The firm maintains a separate subsidiary that prepares arbitrage rebate calculations for scores of issuer clients. We respectfully submit our widely ranging experience in governmental finance, our thorough understanding of federal and state securities laws and our overall expertise in tax-exempt bond finance as Kutak Rock’s primary qualifications to serve as bond counsel to the City. Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 4 | kutakrock.com Statement of Qualifications B. Résumés of Key Personnel Resumes of all key persons from the firm who are expected to be involved in the scope of work as outlined above. Resumes should be limited to one (1) page. i. Experience with different municipal debt structure types and amounts of debt; ii. Knowledge of federal and state tax and disclosure laws and regulations as they pertain to municipal debt; iii. Experience in drafting legal documents relating to municipal debt issuance; iv. Position title, company tenure, experience, other relative information Should Kutak Rock be appointed bond counsel to the City, the firm would assign Gordon M. Wilbourn, Jacob B. Hill and Larry L. Carlile to the engagement with the City. Mr. Wilbourn would serve as the lead attorney for the engagement, coordinate the participation of other members of the working group and act as the principal contact person at the firm for City officials. Mr. Hill would assist Mr. Wilbourn with legal research and document preparation. Mr. Carlile, one of the firm’s public finance tax practitioners, would conduct the tax analysis and prepare all necessary tax opinions. Brief résumés of members of this group follow. Gordon M. Wilbourn, a partner of Kutak Rock, practices in the firm’s Little Rock office. Until early 1998 Mr. Wilbourn was a partner in the Rose Law Firm in Little Rock, conducting a transactional practice in the areas of public finance and corporate finance. He has more than 35 years of experience serving as bond counsel and underwriter’s counsel in a variety of public finance transactions that include water and sewer, general obligation, utility revenue, sales and use tax, tax increment, special assessment, hospital, higher education, multifamily, exempt facility and industrial development issues. Mr. Wilbourn has significant experience in all phases of the financing process, from providing legal advice on financing structures and techniques through the final preparation of bond transaction documents. He has led the firm’s bond counsel representation of the City of Fayetteville since 1999. In addition, he has served as disclosure counsel to multiple Arkansas municipalities and counties. In addition to Fayetteville, Mr. Wilbourn has served as bond counsel on numerous financings for such issuers as the Cities of Little Rock, Conway, Texarkana, Clarksville, Lowell and Mountain Home, among others. In addition, he has participated as bond counsel or underwriter’s counsel for various types of bonds issued by the Arkansas Development Finance Authority. Mr. Wilbourn earned a B.S.B.A. in accounting from the University of Arkansas at Fayetteville in 1983, an M.B.A. from Southern Methodist University in 1984 and a J.D. from the University of Arkansas School of Law in 1987. He is admitted to practice in Arkansas and is a member of the National Association of Bond Lawyers. Jacob B. Hill is a public finance associate in the firm’s Little Rock office. He assists clients in a variety of public finance matters. Mr. Hill received a B.B.A from the University of Arkansas in 2019 and a J.D. from the University of Arkansas, Little Rock School of Law in 2023. He is admitted to practice in Arkansas. Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 5 | kutakrock.com Larry L. Carlile, a partner in the firm’s Denver office, concentrates his practice in Section 103 tax issues and has particular expertise in matters related to arbitrage and refundings. Mr. Carlile has more than 45 years’ experience in computer-based financial analysis and the legal structuring of numerous types of public financings, including major infrastructure projects; water utility issues; single-family and multifamily housing issues; higher education financings; public electric power issues; hospital financings; industrial development and pollution control issues; equipment and other asset pool financings; and a wide variety of other municipal facilities financings. He has provided the tax analysis for numerous Arkansas bond issues. In addition, he has been an active participant in numerous seminars and lecture programs in public finance and tax. Mr. Carlile is a former Chairman of the Task Force on Arbitrage Rebate Rules for the Tax-Exempt Financing Committee of the ABA Section of Taxation and a former Chairman of the Arbitrage/Tax Seminar of the National Association of Bond Lawyers. He is a former vice chair of NABL’s General Tax Committee and a former chair of the Housing Finance Task Force within the ABA Tax Section, Committee on Tax-exempt Finance, and in the latter position was responsible for preparing recommendations to the IRS for regulatory changes affecting housing finance. Mr. Carlile received a B.S., with highest honors, from the University of Kansas in 1970 and a J.D. in 1975 from the University of Chicago. He joined Kutak Rock in 1975 and is admitted to practice in Colorado. C. Client References A client reference list for which similar work has been performed within the past five (5) years. Following is a representative list of cities, counties and municipal financing authorities for which Kutak Rock serves as bond counsel in either an ongoing capacity or in discrete transactions. o City of Fayetteville, Arkansas o City of Conway, Arkansas o City of Little Rock, Arkansas o City of Mountain Home, Arkansas o City of Clarksville, Arkansas o City of Pine Bluff, Arkansas o City of Blytheville, Arkansas o City of Rison, Arkansas o The Industrial Development Authority of the County of Maricopa, Arizona o City of Bakersfield, California o City and County of San Francisco, California o City of Long Beach, California o City of Los Angeles, California o Department of Airports of the City of Los Angeles o Los Angeles County Metropolitan Transportation Authority o Los Angeles Harbor Department o Port of Long Beach, California o San Diego County Regional Airport Authority o City of Aurora, Colorado o City of Boulder, Colorado o City of Colorado Springs, Colorado Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 6 | kutakrock.com o City and County of Denver, Colorado o County of Boulder, Colorado o Pueblo County, Colorado o Urban Residential Finance Authority of the City of Atlanta, Georgia o Bloomington-Normal Airport Authority of McLean County, Illinois o City of Chicago, Illinois o Cook County, Illinois o City of Gardner, Kansas o City of Lenexa, Kansas o City of Overland Park, Kansas o City of Shawnee, Kansas o City of Spring Hill, Kansas o Johnson County, Kansas o Pottawatomie County, Kansas o Water District No. 1 of Johnson County, Kansas o Public Energy Authority of Kentucky o Housing Opportunities Commission of Montgomery County, Maryland o Minneapolis-St. Paul Metropolitan Airports Commission o City of Kansas City, Missouri o Airport Authority of the City of Omaha o City of Lincoln, Nebraska o City of Omaha, Nebraska o City of Tecumseh, Nebraska o City of Valley, Nebraska o Washington County, Nebraska o Omaha Public Power District o Hamilton County, Tennessee o City of Hampton, Virginia o City of Virginia Beach, Virginia o City of Spokane, Washington o City of Janesville, Wisconsin o City of Madison, Wisconsin D. Other Information Include any other information that might be helpful to assist the City in understanding the firm’s unique qualifications to perform bond counsel services for the City of Fayetteville. Information about Kutak Rock’s public finance practice, including its tax and disclosure expertise, is included in our response to section E below. Following is further information about various firm practice areas which are peripheral to a traditional bond counsel practice. While a number of these specialties may be inapplicable to the City’s immediate contemplated financings, others may be particularly relevant. Arbitrage Rebate. In order to assist trustees and issuers to comply with arbitrage rebate requirements, Kutak Rock and its affiliate, Kutak Rock Arbitrage Consulting LLC, have assembled a team of tax attorneys, accountants, financial analysts and other professionals to prepare rebate calculations and deliver opinions. From a mechanical standpoint, Kutak Rock Arbitrage Consulting LLC’s rebate determination involves a demanding accounting process. From monthly statements provided by the trustee or issuer, the firm will Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 7 | kutakrock.com establish the consolidated investment activity for a particular tax-exempt issue. This process requires a complete understanding of the financial aspects of the transaction and comprehensive review of the underlying legal documents. The process may be reviewed by bond counsel or special tax counsel other than Kutak Rock. Any underpayment of arbitrage rebate adversely impacts not only the taxability of the issuer’s bonds but also the issuer’s future cash flow. The federal government has revised the rebate rules no fewer than five times since 1986. Taking advantage of benefits permitted by arcane rules in such calculations can often save issuers hundreds of thousands of dollars. Our arbitrage rebate professionals regularly review rebate calculations performed by others on behalf of our issuer clients, often resulting in significant reductions in the rebate obligations calculated by such other professionals. This group also has the capacity to perform standard yield calculations and is often called upon to do so in complex transactions such as advance refundings, where complex transferred-proceeds algorithms are dictated by the federal tax laws. Audits. Kutak Rock has extensive experience in compliance with tax, disclosure and document matters. The firm is regularly retained to represent issuers—and other parties—in tax audits, including bond audits. A Kutak Rock partner in the Washington, D.C. office was formerly an IRS enforcement agent, and the firm regularly calls on his expertise in IRS procedural matters to resolve issues on a quick procedural basis to avoid time-consuming (and costly) resolutions on the merits. Blue Sky. An important adjunct to the public finance practice is the firm’s national Blue Sky Department. Blue Sky regulations exist in each of the 50 states, and compliance with these widely varying laws is an essential component to virtually every transaction involving the registration, offering and sale of securities. Although preempted by federal legislation in many instances, in some cases notice filings and payment of filing fees may still be required by certain states, depending on the type of security being issued. Real Estate. Kutak Rock also draws on its expertise in related areas of finance when acting as bond counsel. For instance, the firm’s national real estate practice has more than 65 lawyers actively engaged in the practice of commercial real estate lending, real estate and related aspects of bankruptcy and commercial law. Attorneys practicing in these areas provide service for a full spectrum of commercial activities in all 50 states. Clients of this practice area represent all segments of the real estate lending and development industry, including banks, insurance companies, pension funds, credit enhancers, construction contractors, developers, financial institutions, investors, investment advisors, investment bankers, lenders, lessors and lessees, mortgage conduits, property managers, publicly owned real estate funds and real estate investment trusts (REITs). This extensive experience can be most useful when our clients are developing new multifamily housing programs or need to address real estate issues that arise from time to time. SEC Regulatory Practice. In the disclosure/SEC area the firm has an extensive technical and litigation practice. On the technical side, the firm regularly deals with questions involving disclosure and SEC-related matters; in fact, over the last 20 years the firm has acted as underwriter’s counsel on more municipal bond financings than any other law firm in the country. Moreover, the firm has an active SEC underwriter/issuer litigation defense practice, headed by attorneys who previously worked for the SEC. As part of its proactive practice, the firm Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 8 | kutakrock.com also prepared and distributed to its municipal issuer clients a summary of the SEC’s position and several suggested simple procedures an issuer can implement to address the SEC’s concerns. Securitization. The firm’s vast experience in both the municipal bond and taxable securitization areas gives it a unique perspective on the national bond and structured finance/securitization markets. This is underscored by the firm’s extensive practice of working with underwriters, particularly on new products. For example, the firm was counsel on the first floating rate bonds, the first floaters/inverse floaters and the first floaters issued without a liquidity provider. Securities Laws. The firm is nationally recognized for its experience in bond-related federal securities laws, as well as federal and state tax laws. In the last 35 years the firm has been in the forefront of determining the interplay between federal securities laws, particularly the registration provisions thereof and the new Rule 15c2-12 matters, and municipal bonds. For example, the firm obtained the initial SEC no-action letters on municipal bond insurance, on municipal bond participations, on market rate (80-20) multifamily financings and on FDIC/FSLIC-backed multifamily bonds. The firm was also intimately involved in the rule-making process for Rule 15c2-12 and has advised numerous clients on its application. E. Qualifications of Firm i. Experience Proposer shall provide a detailed description of similar city and/or county projects or contracts that currently use the proposed system, completed and/or presently provided during the past five (5) years. Provide complete contact information, name, address, phone and emails for all references. Public Finance Practice More than 130 Kutak Rock lawyers devote all or a major portion of their practice to the field of public finance and related aspects of law. The firm has served as bond counsel in more than 20,000 municipal bond issues in all 50 states, the District of Columbia, the Virgin Islands, Guam and Puerto Rico. No opinion of the firm with respect to the tax-exempt status of a bond issue has ever been the subject of any court action. The firm’s national prominence is attributable in part to the large number of subspecialties it maintains within the public finance field. These subspecialties run the gamut of tax-backed and revenue bond debt, including traditional general obligation bond issues, tax and revenue anticipation notes, municipal commercial paper, infrastructure financings (including water, sewer and electric bonds), clean water and drinking water revolving funds, higher education, health care and other 501(c)(3) conduit financings, special district and tax increment bonds, arena and convention center bonds, solid waste project financings, transportation financings (including airport, mass transit, port and toll road bonds), lease financings (including certificates of participation), single-family and multifamily housing bonds, student loan financings and a wide variety of municipal derivative products. To complement this expertise, Kutak Rock has a nine-member Section 103 Tax Department (including a former IRS official) specializing in federal tax exemption matters and a number of nationally recognized authorities in the application of the federal securities laws to public finance. The Tax Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 9 | kutakrock.com Department attorneys meet weekly via conference call to discuss current tax issues and developments as well as to share information obtained from regular interactions with Department of Treasury and IRS personnel. These tax attorneys also regularly handle IRS bond audits—over 300 to date. The National Public Finance Department is purposefully organized to match this breadth of expertise with the needs of a diverse client base. Consequently, the firm does not limit its practice focus to one particular role. The firm routinely serves as bond counsel, special tax counsel, issuer’s counsel, disclosure counsel, underwriter’s counsel, placement agent’s counsel, counsel to municipal bond insurance companies and to letter of credit banks and as borrower’s counsel in conduit financings. Kutak Rock attorneys also take pride in their willingness to work with our clients to develop new and inventive approaches to satisfy the needs of our clients. Rather than only being able to replicate what other firms have done before, the firm has gained a reputation for undertaking sophisticated transactions that involve the application of creative approaches to difficult financing problems. In the past 30 years the firm has provided legal services in many financings that Institutional Investor magazine and The Bond Buyer have recognized as public finance “Deals of the Year.” Most recently, the firm served as bond and underwriter’s counsel for the 2020 P3 Financings of the Year. Kutak Rock also served as bond counsel for the “ESG/Green Financing” of 2018-19, a large “green bond” financing of the Los Angeles County Metropolitan Transportation Authority. In addition to its highly active National Public Finance Department, the firm has a strong contingent of lawyers who work in real estate, bankruptcy, banking, securities laws, litigation and other areas. These practitioners are available to support public finance clients of the firm as needed. Leaders in Bond Counsel. Kutak Rock has been listed among the most active bond counsel firms in the nation in annual industry rankings since such statistics were first made available. Following are national rankings for the firm for recent years as compiled by LSEG Data & Analytics (formerly Refinitiv), the statistician for the public finance industry (rankings based on number of deals): National Bond Counsel Rankings Year Rank Number of Issues Dollar Total 2024 1 492 $28.81 billion 2023 1 386 $19.89 billion 2022 1 406 $19.19 billion 2021 2 523 $25.43 billion 2020 4 499 $17.24 billion Issuers for which the firm has served as bond counsel include traditional political bodies such as states, counties, cities and school districts, as well as numerous special-purpose financing authorities such as public power districts, institutions of higher education, state housing finance agencies and student loan agencies. Underwriter’s Counsel Experience. Kutak Rock has acted as underwriter’s counsel for every major national and most regional investment banking firms. With respect to the variety and quantity of financings, in recent years the firm’s experience in the role of underwriter’s counsel has been Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 10 | kutakrock.com unmatched by any law firm. In fact, statistics show that for the period 1992 through 2023 (cumulatively over the term) Kutak Rock served as underwriter’s counsel in a larger number of public finance issues than any other firm in the country. Following are LSEG Data & Analytics’ national rankings (based on deal total) for Kutak Rock as underwriter’s counsel for recent years: National Underwriter’s Counsel Rankings Year Rank Number of Issues Dollar Total 2024 2 212 $16.73 billion 2023 1 180 $12.40 billion 2022 1 215 $9.27 billion 2021 1 300 $14.21 billion 2020 1 293 $14.28 billion Tax Expertise. An excellent indicator of the firm’s tax expertise is the number and quality of the bond structures developed by the firm’s tax lawyers. Kutak Rock developed the current floating rate tender bond program, convinced the IRS that a swap contract should be integrated with a floating rate bond issue with a resulting fixed “yield,” developed a contingent interest structure in which the contractor for a major toll road received contingent interest, and developed numerous refunding techniques replicated by many bond counsel firms. Members of the Public Finance Tax Department frequently address client questions with regard to private use of bond-financed facilities. The depth and breadth of the group’s experience is an important resource for clients who face unpredictable challenges in attempting to make the best use possible of their facilities within the bounds of applicable tax law. The firm’s tax lawyers have obtained a number of positive rulings from the IRS on private use matters. Following are the rankings for Kutak Rock (based on deal total): National Special Tax Counsel Rankings Year Rank Number of Issues Dollar Total 2024 2 18 $1.27 billion 2023 5 8 $242 million 2022 6 3 $389 million 2021 10 2 $79 million 2020 8 8 $166 million Every week the members of the Kutak Rock Public Finance Tax Department convene by conference call to discuss current financings in which the firm is involved. Members of the department use this forum to raise unusual or difficult questions concerning the tax implications of ongoing transactions and to solicit the counsel of their colleagues. By concentrating the expertise of all the firm’s tax lawyers in this way, the essential elements of a transaction are more likely to become clarified, and a resolution of the issue is more likely to emerge. The firm’s use of a group dynamic has been a highly successful approach to resolve what often appear to be intractable problems. Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 11 | kutakrock.com The group approach also serves to keep the firm’s tax attorneys fully coordinated with respect to the firm’s articulated positions on tax questions that arise repeatedly. Nationally Renowned Disclosure Counsel. The firm’s public finance attorneys have also developed an extraordinary expertise in analyzing the SEC’s initiatives, such as the MCDC Initiative, the municipal advisor rules and Rules 15Ga-1 and 15Ga-2, the conduct of due diligence investigations, the evaluation of information for materiality, the preparation of disclosure documents and the development of disclosure policies and procedures as highly recommended (and effectively required) by the SEC. Following are the firm’s national disclosure counsel rankings (based on total number of deals) for recent years as compiled by LSEG Data & Analytics: National Disclosure Counsel Rankings Year Rank Number of Issues Dollar Total 2024 6 95 $6.77 billion 2023 5 91 $6.30 billion 2022 5 105 $9.09 billion 2021 5 140 $11.02 billion 2020 7 140 $5.05 billion As one of the nation’s most active firms in the municipal disclosure arena (as evidenced by the firm’s consistently high national ranking as disclosure counsel, noted above), Kutak Rock’s public finance attorneys have developed an ongoing familiarity with market and regulatory expectations and developments, expertise in the conduct of due diligence investigations, and experience in the evaluation of information for materiality and the SEC-recommended development of disclosure- related procedures and staff training. The firm regularly advises government officials concerning the preparation of disclosure documents for primary offerings and secondary market continuing disclosure filings, as well as the making of public and private statements relevant to disclosure during press conferences and presentations. Kutak Rock has a concrete, firmwide system in place to monitor and keep abreast of regulatory requirements so that our attorneys and our clients stay informed of regulatory disclosure requirements. Our broad market knowledge and penetration ensures that we can assist our clients to understand regulatory trends, learn quickly of specific developments and be aware of practical developments as they occur across the country. Clients include a few states where the firm has been specifically appointed as special disclosure counsel for their bond issues, other additional states where our role as bond counsel includes disclosure advice, numerous state agencies, counties, major metropolitan cities, small cities and towns, and numerous special districts. Kutak Rock regularly submits comments to the SEC and others regarding proposed rules and regulations affecting the municipal market. The firm has closely monitored the guidance of the SEC regarding municipal disclosure and has kept up to date with the SEC’s program of heightened scrutiny of municipal issuers. Most recently, the firm identified various issues, and outlined policy and procedural implementation suggestions, in response to the August 20, 2018 release of the amendments to Rule 15c2-12, which added two reportable events effective February 27, 2019. The Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 12 | kutakrock.com proposed amendments were in response to complaints by investors and analysts concerning the lack of information about private borrowings by issuers (such as bank lines of credit and leases) and about modifications of the terms or provisions of any type of financial obligation of an issuer. Based on our extensive experience with issuers of all sizes, we knew that the amendments, as proposed, would be very difficult for most issuers to comply with, and (we believed) were much broader than investors and analysts really required (for example, a lease of any size, even for an office copy machine, would have had to be reported). Kutak Rock submitted extensive comments to the SEC, and when the Final Amendments were published, they were curtailed in many respects. (Our firm’s comments were cited in 14 footnotes to the accompanying SEC commentary, far more than any other commenting law firm.) We then prepared written advice for our clients on both the steps they should follow to implement the new Amendments, as well as technical advice on the terms and nuances of the new Amendments. Kutak Rock was also intimately involved in the SEC’s preceding program, the MCDC Self-Reporting Initiative, assisting many issuers in analyzing whether—and how—to respond, and then representing seven (of the unlucky 72 selected issuers) in negotiating consent orders with the SEC. By virtue of these negotiations, the firm gained valuable insights about the SEC’s analysis of the disclosure rules—and both the important, and unimportant, issues. The role of disclosure counsel in an individual transaction versus an ongoing period of time comprised of related transactions is substantively different. In all transactions, whether the former or the latter, disclosure counsel assists the issuer in complying with securities laws and regulations. However, the role of disclosure counsel in an ongoing relationship extends beyond the transaction to assisting the issuer in implementing procedures, fulfilling secondary market continuing disclosure obligations and assuring itself that at all times, even between transactions, it is in compliance with applicable laws and regulations. In a transactional engagement, the role is akin to analyzing a snapshot of the issuer’s disclosure. In an ongoing relationship, the role is like watching a movie of the issuer’s disclosure with continuous footage. The role of disclosure counsel is especially important at a time when the SEC is expanding its scrutiny of municipal disclosure, as illustrated by recent enforcement actions and inquiries regarding pension disclosure, federal legislation, including the Dodd-Frank Act, rulemaking, such as the expansion of Rule 15c2-12, and statements by SEC staff in various forums to the effect that the SEC is expanding its authority over the municipal markets. While much of the existing authority the SEC and Municipal Securities Rulemaking Board (“MSRB”) have over the municipal market runs to underwriters and market participants other than bond issuers, it is important for bond issuers to keep abreast of such regulatory requirements, as they significantly impact bond issuance, and some regulatory requirements are, of course, passed on to bond issuers through contractual mechanisms in bond purchase contracts and elsewhere. Recent SEC actions against municipal officials and their financial advisors underscore the SEC’s intentions. Financing Examples As requested, we have chosen a few recent municipal issues for which we have served as bond counsel to discuss in detail. Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 13 | kutakrock.com o $38,785,000 City of Conway, Arkansas Restaurant Gross Receipts Tax Capital Improvement and Refunding Bonds, Series 2022 (firm’s role: bond counsel) The bonds captioned above (the “Series 2022 Bonds”) were issued by the City of Conway, Arkansas for the purpose of (i) refunding the City’s outstanding Restaurant Gross Receipts Tax Refunding Bonds, Series 2017, (ii) financing a community center and soccer fields, (iii) purchasing a municipal bond insurance policy, and (iv)) paying certain expenses in connection with the issuance of the Series 2022 Bonds. Gordon Wilbourn served as bond counsel. The refunded Series 2017 Bonds (on which Mr. Wilbourn also served as bond counsel) refinanced certain parks and trail improvements within the City of Conway. Contact: Mr. Tyler Winningham Finance Director City of Conway 1111 Main Street Conway, AR 72032 501-450-6101 tyler.winningham@conwayarkansas.gov o $12,715,000 City of Clarksville, Arkansas Sales and Use Tax Capital Improvement and Refunding Bonds, Series 2021 (firm’s role: bond counsel) The Series 2021 Bonds captioned above (the “Bonds”) refunded two series of prior bonds and financed the costs of various parks and recreation facilities and improvements. The Bonds pay interest semiannually and mature in the years 2022 through 2031. The Bonds are special obligations of the City payable from collections of separate three-quarters of one percent (0.75%) and one-quarter of one percent (0.25%) city sales and use taxes in accordance with Amendment 62 to the Constitution of the State of Arkansas and the Local Government Bond Act of 1985 (A.C.A. Sections 14-164-301 et seq.). Kutak Rock served as bond counsel for this financing, with Gordon Wilbourn acting as lead attorney. Contact: Mayor David Rieder City of Clarksville 205 Walnut Street Clarksville, AR 72830 479-754-6486 drieder@clarksvillear.gov o $10,000,000 City of Mountain Home, Arkansas Water and Sewer Revenue Improvement Bonds, Series 2022 (firm’s role: bond counsel) The Series 2022 Bonds captioned above (the “Bonds”) financed various improvements to the City’s wastewater system. The Bonds pay interest semiannually and mature in the years 2030 through 2042. The Bonds are special obligations of the City payable from utility revenue Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 14 | kutakrock.com collections. Kutak Rock served as bond counsel for this financing, with Gordon Wilbourn acting as lead attorney. Contact: Mayor Hillrey Adams City of Mountain Home 720 South Hickory Mountain Home, AR 72653 870-425-5116 mayor@cityofmountainhome.com o Not to exceed $18,000,000 City of Pine Bluff, Arkansas Convention Center and Hotel Public Facilities Board Advancing Promissory Note, Series 2025 (firm’s role: bond counsel) The Advancing Promissory Note captioned above (the “Note”) financed a portion of the costs of the construction and equipping of a hotel facility adjacent to the City of Pine Bluff Convention Center. The Note pays interest monthly and matures in the years 2025 through 2052. The Bond is a special obligation of the Public Facilities Board payable from hotel revenue collections. Kutak Rock served as bond counsel for this financing, with Gordon Wilbourn acting as lead attorney. Contact: Letrece Harris, Chair City of Pine Bluff, Arkansas Convention Center and Hotel Public Facilities Board One Convention Center Plaza Pine Bluff, AR 71601 870-717-7109 letreceharris@wholeroll.com o $72,355,000 City of Madison, Wisconsin General Obligation Promissory Notes, Series 2022-A; $20,160,000 City of Madison, Wisconsin Taxable General Obligation Promissory Notes, Series 2022-B; and $22,035,000 City of Madison, Wisconsin General Obligation Refunding Bonds, Series, 2022-C (firm’s role: bond counsel) Kutak Rock serves on an ongoing basis as bond counsel to the City of Madison, Wisconsin. In September 2022 we served as bond counsel to the City in connection with three contemporaneous general obligation issues. Proceeds of the Series 2022-A Promissory Notes will be used to finance capital projects for various City Departments. Proceeds of the Series 2022-B Promissory Notes will be used to finance various economic development and tax increment projects within the City. Proceeds of the Series 2022-C Bonds, along with other available funds of the City, will be used to refund (i) the January 1, 2023 through January 1, 2033 maturities of the City's Water Utility Revenue Bonds, Series 2012, dated December 19, 2012 and (ii) the January 1, 2023 through January 1, 2034 maturities of the City's Water Utility Revenue Bonds, Series 2013, dated December 18, 2013. Kutak Rock helped the City work through the issues that arise when taxable and tax-exempt bonds are issued contemporaneously. Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 15 | kutakrock.com Contact: Mr. Matt Robles Assistant City Attorney City of Madison 210 Martin Luther King, Jr. Boulevard City-County Building, Room 406 Madison, WI 53703 608-266-4511 mrobles@cityofmadison.com o $89,235,000 City of Omaha, Nebraska Various Purpose Bonds Series 2022 (firm’s role: bond counsel) $96, 350,000 City of Omaha, Nebraska Various Purpose and Refunding Bonds Series 2021 (firm’s role: bond counsel) $57,790,000 City of Omaha, Nebraska Various Purpose and Refunding Bonds Tax-Exempt Series 2020A and $69,830,000 City of Omaha, Nebraska General Obligation and Refunding Bonds Taxable Series 2020B (firm’s role: bond counsel) Kutak Rock has served as bond counsel to the City of Omaha, Nebraska since 1984. Proceeds of the Series 2022 bonds will be used to pay the costs of acquiring equipment and constructing improvements relating to streets and highways, public safety, public facilities, sewers, parks and recreation facilities and street improvements of the City. Proceeds of the Series 2021 bonds will be used to pay the costs of acquiring equipment and constructing improvements relating to streets and highways, public safety, public facilities, sewers, parks and recreation facilities and street improvements of the City and to currently refund certain outstanding indebtedness assumed by the City as a result of its annexations of three Douglas County, Nebraska sanitary and improvement districts. Proceeds of the Series 2020A bonds will be used to pay the costs of acquiring equipment and constructing improvements relating to streets and highways, public safety, public facilities, sewers, parks and recreation facilities and street improvements of the City and to currently refund certain outstanding indebtedness assumed by the City as a result of its annexations of fourteen Douglas County, Nebraska sanitary and improvement districts and certain outstanding general obligation debt previously issued by the City. Proceeds of the Series 2020B bonds will be used to (i) advance refund on a taxable basis certain outstanding indebtedness assumed by the City as a result of its annexations of twenty Douglas County, Nebraska sanitary and improvement districts and certain outstanding general obligation debt previously issued by the City and (ii) pay for certain costs associated with the installation of street and highway improvements at certain sites located within the City. Contact: Mr. Stephen Curtiss Finance Director City of Omaha Finance Department Suite 1004 Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 16 | kutakrock.com 1819 Farnam Street Omaha, NE 68183 402-444-5416 scurtiss@ci.omaha.ne.us o $72,200,000 The City of Lincoln, Nebraska Lincoln Electric System Revenue Bonds Series 2020A (firm’s role: bond counsel) $185,150,000 The City of Lincoln, Nebraska Lincoln Electric System Revenue Refunding Bonds Taxable Series 2020B (firm’s role: bond counsel) The Lincoln Electric System (“LES”) was formed in 1966. The LES service area covers approximately 200 square miles, of which approximately 94 square miles are within the limits of the City of Lincoln, Nebraska. LES serves approximately 125,504 residential customers and 17,114 commercial and industrial customers. The proceeds of the Series 2020B Bonds were used to fund a debt service reserve fund and to refund certain outstanding bonds. Kutak Rock participated as underwriter’s counsel for LES’s $277,315,000 Revenue and Refunding Bonds, Series 2012, an issue that refunded various outstanding bond issues and commercial paper notes. The firm subsequently assumed the role of bond counsel for LES’s subsequent $75,525,000 Revenue and Refunding Bonds, Series 2013, $167,800,000 Revenue and Refunding Bonds, Series 2015A, $116,645,000 Revenue and Refunding Bonds, Series 2016, $121,205,000 Lincoln Electric System Revenue Bonds, Series 2018, $72,200,0 00 Revenue Bonds Series 2020A, and $185,150,000 Revenue Refunding Bonds Taxable Series 2020B. The Series 2013 Bonds, Series 2015A Bonds, Series 2016 Bonds, Series 2018 Bonds and Series 2020B Bonds all refunded previous outstanding bonds and commercial paper notes. The Series 2018 Bonds and Series 2020A Bonds reimbursed prior capital expenditures. Contact: Ms. Emily Koenig Vice President and Chief Financial Officer Lincoln Electric System 9445 Rokeby Road Lincoln, NE 68526 402-473-3315 ekoenig@les.com o $6,000,000 City of Conway, Arkansas Electric Revenue Improvement Bonds, Tax-Exempt Series 2025 (firm’s role: bond counsel) The Series 2025 Bonds captioned above were issued by the City of Conway, Arkansas (the “City”) primarily to finance certain improvements to the City’s electric utility system. The Series 2025 Bonds are special obligations of the City payable from and secured by a pledge of the revenues of the City’s electric system. Gordon Wilbourn served as bond counsel. Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 17 | kutakrock.com Contact: Mr. Bret Carroll Chief Executive Officer Conway Corporation 650 Locust Street Conway, AR 72034 501-450-6030 bret.carroll@conwaycorp.com Arkansas Public Finance Experience Kutak Rock has played a significant role in the public finance industry in Arkansas for many years. The firm has provided legal services as bond counsel, special tax counsel, underwriter’s counsel, disclosure counsel and credit enhancer’s counsel in financings for a wide variety of projects on the local and state levels. In its history the firm has provided services in over 600 Arkansas bond issues having an aggregate principal amount exceeding $20 billion. We served as bond counsel in more than 340 of such financings aggregating more than $9.5 billion. Kutak Rock has served as bond counsel to a number of Arkansas governmental entities in connection with their public financings. Such issuers include the City of Fayetteville, the City of Little Rock, the City of North Little Rock, the City of Conway, the City of Clarksville, the City of Texarkana, the City of Mountain Home, the City of Lowell, the City of Pine Bluff, the City of Pine Bluff, Arkansas Convention Center and Hotel Public Facilities Board, the City of Tontitown, the Arkansas Development Finance Authority, the University of Arkansas, the Pulaski County Public Facilities Board, the Bentonville Housing Authority, North Arkansas College, Southeast Arkansas College, the Public Facilities Board of Benton County, the Saline County Public Facilities Board, the City of Siloam Springs Public Facilities Board, the City of Rogers Residential Housing Facilities Board, the Forrest City Public Health Facilities Board, Phillips County, Baxter County, Boone County, Saline County, Van Buren County and Washington County, among many others. The firm has also provided legal services as underwriter’s counsel, placement agent’s counsel or disclosure counsel in significant financings of the City of Little Rock, the City of North Little Rock, the Arkansas Student Loan Authority, Arkansas Children’s Hospital, Baptist Health, Conway Regional Medical Center, Central Arkansas Water, White River Medical Center, Washington Regional Medical Center and the Northwest Arkansas Regional Airport Authority. Bond issues for these entities provided financing for water, sewer and electric systems, streets and trails, higher education facilities, industrial development projects, airports, solid waste disposal facilities, government buildings, hospitals, a stadium, a residential care center and single-family and multifamily housing projects, among other types of facilities. The firm has served as bond counsel to the Cities of Fayetteville and Conway in connection with several short-term general obligation (Amendment 78) and special revenue (Amendment 65) financings. In addition, the firm has served as counsel to North Arkansas Regional Medical Center (a facility owned by Boone County) in connection with a number of short-term tax-exempt lease-purchase financings issued through the Arkansas Development Finance Authority. Kutak Rock has also served as bond counsel in an Amendment 78 financing completed for the City of Little Rock and as bond purchaser’s counsel for an Amendment 78 financing completed for the City of Hot Springs. Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 18 | kutakrock.com Experience With the City We note that Kutak Rock has served as bond counsel to the City since 2000. With respect to the City’s Sales and Use Tax Capital Improvement Bond program, the firm has served as bond counsel in nine such new money issuances aggregating $279.7 million. In addition, the firm has served as bond counsel in two refundings aggregating $196.4 million for the same project. All told, Gordon Wilbourn, the partner proposed to serve as the lead attorney for the City’s financings, has served as bond counsel to the City for a total of 27 issues since 2000 aggregating more than $660 million in principal amount. Kutak Rock’s long association with the City in connection with these transactions has given the firm a familiarity with the City’s procedures and goals that has proven beneficial when arranging its financings. As members of the City’s staff can attest, there have been a number of substantial and complex challenges over the last several years in the structuring and timing of the City’s bond issues so as to most efficiently achieve the City’s financing needs. We believe we have made valuable contributions as a member of the City’s financing team in this process. In addition, we have been responsive when post-issuance questions have arisen regarding arbitrage, rebate and other tax matters, bond trustee duties, document provisions, continuing disclosures issues, etc. The firm’s tax expertise, as noted above, has been critical in providing the correct response to many of these questions in as quick and efficient a manner as possible. ii. Company Principals Provide a brief biographic overview of the Company’s key principals. Following are brief biographical sketches of the Chair and Vice Chair of Kutak Rock: John L. Petr is Kutak Rock's Chair. Mr. Petr practices in the Omaha Public Finance Department and has represented issuers, credit enhancers, lenders and underwriters in connection with taxable and tax - exempt financings in the housing, military housing, higher education, electric energy and project finance sectors. He has worked as a member and leader of Kutak Rock attorney teams to address structuring and operational issues touching on a broad range of legal disciplines, including tax, real estate, securities regulation, bankruptcy, government contracting and environmental law. Mr. Petr received a bachelor’s degree, summa cum laude, from Washington University in St. Louis in 1984 and a law degree from the University of California at Berkeley School of Law in 1987. He is admitted to practice in Nebraska. Hilary A. Jackler serves as Vice Chair of Kutak Rock. Ms. Jackler advises federal agencies, state and local governments, and private entities on structuring, implementing, and financing public-private partnership (P3) projects, military base realignment and closure (BRAC) matters, and programmatic and regulatory development. She has supported federal, state, and local governmental clients to solicit, negotiate, implement, and terminate more than 25 P3 projects. By assisting clients to navigate the BRAC processes and negotiate and implement economic development conveyances and public benefit conveyances, Ms. Jackler has assisted governors’ offices, mayors’ offices, and other local redevelopment authorities to enable the redevelopment of over 5,000 acres at closed military installations. On behalf of P3 and BRAC clients, she has drafted RFPs, participated in selection Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 19 | kutakrock.com processes, and negotiated leases, concession agreements, development agreements, and other transaction documents. Ms. Jackler received a bachelor’s degree, cum laude, from the University of Maryland in 2003 and a law degree, magna cum laude, from the University of Maryland School of Law in 2006. She is admitted to practice in Maryland and the District of Columbia. iii. Capabilities Proposer shall provide a description of limitations relative to facilities, staff personnel, on‐going projects/ contracts, etc. Specifically, provide statement of qualification what priority will be placed on this project. Kutak Rock established a presence in Arkansas in 1989 when it opened its Little Rock office primarily to develop its public finance practice in the State. Over the years that office has grown to house 28 attorneys who conduct practices in public finance, corporate, real estate, healthcare, employment law and litigation. In addition, in 2001 the firm opened an office in Fayetteville to serve clients in northwest Arkansas. The Fayetteville office has also experienced significant growth and now has 15 lawyers who concentrate in corporate, healthcare, banking, real estate and litigation matters. Most recently, in February 2016 the firm opened an office in Rogers to facilitate services to a major corporate client. Kutak Rock’s offices in central and northwest Arkansas, offering the services of 59 attorneys, attest to the strong presence the firm has achieved in the State. The key to Kutak Rock’s success has been the firm’s persistent efforts to attract to the firm the most qualified and accomplished lawyers available. Over many years the firm has assembled a roster of attorneys who have the expertise the firm’s clients need in order to operate their organizations most successfully. Public finance clients of Kutak Rock often discover that the firm’s multidisciplinary character is invaluable to them when the need arises for legal services in areas other than traditional municipal finance. The services of specialists in areas such as real estate, bankruptcy, tax credits and general corporate law, for example, are available quickly through a communications lifeline that connects all attorneys of the firm—a highly sophisticated computer network that features universal document accessibility and e-mail. Using e-mail, for example, a Kutak Rock lawyer can simultaneously pose a question on an esoteric point of law to a select group, or all, of his or her colleagues across the country and receive feedback from attorneys who have encountered the question before. A client who engages the firm’s Little Rock office in effect engages the full apparatus of Kutak Rock’s national practice. While Kutak Rock brings national expertise to public finance engagements, the attorneys in the three Arkansas offices bring the added complement of first-hand working knowledge of Arkansas state laws and local practices, particularly those pertaining to bond financing. Moreover, our Arkansas lawyers are committed to Arkansas. Most of them attended law school in Arkansas and have lived in the state for their entire law careers. They are active in state and local causes, have intimate knowledge of the state legislative process, and have contacts within many agencies in the State’s executive branch. This Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 20 | kutakrock.com local knowledge, combined with a national expertise no other Arkansas firm can contribute, makes Kutak Rock the best-qualified public finance counsel firm in the State. Capacity to Provide Services. Kutak Rock’s Public Finance Department is organized on a national level to coordinate delivery of the best expertise to individual clients on a cost-effective basis and to ensure that the firm’s professional standards are maintained firmwide. The firm’s technology systems permit lawyers separated by significant distance to keep in close touch via telephone and e-mail and to access and share documents from any computer with an Internet connection. All engagements that Kutak Rock accepts are carried through to completion on terms acceptable to and approved by the firm’s clients. The City has the firm’s assurance that Gordon Wilbourn, the proposed lead attorney, would arrange his schedule to accommodate City officials as necessary. He would be available for consultation with City officials as required and would adhere to any timetable to which he would commit. We note that Mr. Wilbourn has provided bond counsel services to the City since 1999 and thus is accustomed to working with City officials and staff members. Our team concept ensures that there would be no disruption in accommodating the City’s schedule even if the City undertakes more than one financing simultaneously. Kutak Rock has the resources for extremely quick preparation of first drafts and efficient turnaround time. The firm’s depth of attorney ranks, large support staff and in-house support systems enable the firm to handle several matters at once with no diminution in the quality of services rendered. In addition, the availability of experienced colleagues to assist the responsible attorney on an emergency basis permits Kutak Rock to guarantee prompt service to clients. Kutak Rock built its reputation on the outstanding service it provides to clients, whether they are located across the street or across the country. Kutak Rock expects each attorney engaged in a client matter, including the lead partner, to be available at all times to the client. Attorneys take calls from clients directly and return missed calls as soon as practicable on the same business day. Most attorneys are available by smart phone and e-mail both during and after normal business hours. Attorneys also make an effort to be available as needed during vacations or other times they are not in the office or to provide sufficient and appropriate backup attorney support. We make a special effort to be responsive and accommodating in the event of rush or urgent situations. Callbacks on these types of requests will be made as soon as possible and generally within one hour. Technological Capabilities. A major factor in Kutak Rock’s success in the public finance industry has been the level of service the firm has traditionally afforded to clients. Firm lawyers strive to deliver services in accordance with the desires and needs of the client. Kutak Rock has the resources for extremely quick responsiveness to client requests and efficient turnaround time for legal document preparation. The firm’s depth of attorney ranks, large support staff and in-house support systems enable the firm to handle several matters at once with no diminution in the quality of services rendered. Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 21 | kutakrock.com Most of the firm’s attorneys travel with cell phones and tablets that afford access to office email. Such electronic devices permit clients access to attorneys at almost any time. Kutak Rock uses a web-based document management system that affords every member of the firm access to all unsecured documents in the firm’s document library. In addition, the document library is accessible to any firm member from any computer with an Internet connection. This system facilitates document sharing between offices and document transmission to and from clients, primarily through email attachment. The firm has also established extranets for many clients to provide for the secure exchange of information over the Internet as well as for case management purposes. Kutak Rock has on-site ability to prepare CD-ROM transcripts (sometimes in lieu of paper transcripts and sometimes in addition to them). The CDs can be made fully searchable and printable and, according to the manufacturer, are built to last 100 years. All computer support for the firm is provided by Kutak Rock’s in-house Information Technology Department. The IT Department has the ability to interface electronically with almost any computer system of a client or other outside party. Clients of the firm have access to ShareSpace to provide document access; extranets for document sharing; and use of an application that permits all conference call participants to view the same document. Kutak Rock has a document library containing thousands of document templates and examples that can be adapted for use for new matters. iv. Company Organization 1. Primary Business Proposers shall describe company’s primary business interest and/or operations including organization and affiliations. Include the magnitude of your operation as it relates to this project. Kutak Rock is a national law firm established on the principles of fairness and integrity, an unwavering commitment to our communities and dedication to an inclusive and engaged workplace. Founded in Omaha in 1965, the firm has grown to 19 offices in 14 states and the District of Columbia, providing broad nationwide coverage and relentless attention to client service. Kutak Rock’s offices are in Atlanta, Chicago, Denver, Fayetteville, Irvine, Kansas City, Los Angeles, Little Rock, Minneapolis, Omaha, Philadelphia, Richmond, Rogers, Scottsdale, Spokane, Springfield, Tallahassee, Washington, D.C. and Wichita. Our national footprint allows us to serve our clients wherever their legal needs arise, and our local market presence helps us understand their places in the business and civic communities we share. The firm is a limited liability partnership organized under the laws of the State of Nebraska. At present the firm has 347 partners who share ownership of the firm. The partners invest capital in the partnership at varying levels proportionate to their partnership interest. Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 22 | kutakrock.com Kutak Rock is organized into a number of Regional Offices, some of which include several smaller offices. A 14-member Executive Committee composed of senior partners is responsible for the day-to-day operation of the law firm. Each Regional Office elects its own advisory committee to manage itself. With 550+ attorneys, admitted to practice in 43 states and the District of Columbia, we work seamlessly across geography and time zones to provide the best and most responsive legal services possible to local, regional, and national clients in a multidisciplinary practice. Many of our attorneys are recognized industry leaders in their practices, allowing us to serve our clients across a panoply of subject-matter areas. From Fortune 500 corporations to state and local governmental units to financial institutions and businesses, our attorneys assist clients with virtually any legal matter or project, regardless of scope or scale. Kutak Rock also strongly believes in providing pro bono legal services and has committed firm resources to the representation of organizations and individuals in various areas of law for decades. We often partner with clients on pro bono efforts and strive to practice mindful communication with each. Kutak Rock has earned a reputation across the U.S. for providing excellent legal services in a practical, cost-conscious manner. Clients benefit from our collaborative approach, which allows attorneys located in high market cities to handle local representation, such as hearings, court appearances, and trials, while partnering with skilled and experienced attorneys in Middle America where rates are lower for time-intensive, tactical tasks. This model provides an ideal combination of rates and experience and delivers high-quality representation at a fair price. The firm strives to maintain the highest professional ethics in all its engagements. Robert Kutak, a founder of the firm, was in the forefront of the development of professional ethics for lawyers and in the 1980s was the driving force behind the development of the new Model Rules of Professional Conduct, which substantially rewrote the ethical provisions that had been in place for decades. In fact, the ABA Commission that authored the new ethics rules was referred to as the “Kutak Commission.” Kutak Rock’s website at kutakrock.com contains information on every area of law in which the firm conducts a practice as well as a profile and e-mail link for each attorney in the firm. 2. Company History Provide pertinent company historical information that will demonstrate your capability to successfully accomplish this project. We are known for our ability to assist our clients in understanding the unique federal, state and local laws and policies and tax issues that must be addressed to balance governmental and private sector needs into a successful transaction. Several of the firm’s transactions have been recognized as “Deals of the Year” by Institutional Investor and The Bond Buyer. In addition, Kutak Rock offers: Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 23 | kutakrock.com o A range of experience spanning the nation. Consistently ranked among the top 10 bond counsel firms in the United States, Kutak Rock has substantial experience providing services across the country in virtually every type of public financing and debt instrument in use in municipal financing. Kutak Rock’s broad exposure to the national public finance marketplace in a wide variety of capacities keeps us up to date with all innovations (and problems) in the industry when they occur. That range of experience gives us the expertise and depth to respond to the City’s legal needs when and as requested. o Bond expertise 130+ deep. Although we believe it serves the client best to concentrate the activity related to any one client in one or two attorneys to ensure they can have a thorough background on client activity, we regularly involve other public finance attorneys in the firm on matters for which they may have a particular expertise. There are over 130 public finance attorneys in the firm to assist with the City’s bond issues and provide support. o Resources beyond bond lawyers. The firm’s multidisciplinary practice provides our public finance clients with a range of expertise in many areas that frequently relate to bond issues. Kutak Rock attorneys have expertise in securities law, tax credits, banking, bankruptcy, environmental law, employee benefits and pension plan law, litigation and real estate, to name a few, which all interface with public finance on occasion. o Nationally recognized tax expertise. We have a nationally recognized group of nine public finance tax lawyers (including a former IRS official) who collaborate to arrive at a consensus on difficult tax issues. o Responsiveness. Kutak Rock has built its reputation on the extraordinary responsiveness of its attorneys. We place an emphasis on accessibility to our lawyers and open communications. Through frequent telephone contact, email messages and personal meetings, we are in constant touch with our clients, proactively identifying issues and opportunities that could affect our municipal clients. o Flexibility. Kutak Rock is flexible and routinely adapts its engagements to best serve our clients’ needs. The firm remains willing and capable of modifying its billing structures, reporting mechanisms, staffing arrangements and other procedures to meet your specific needs. We have tailored our billing, reporting and case management systems for many of our clients, and would work with the City to produce a successful and long-term relationship in the same manner. o Technology. The firm’s commitment to maintaining state-of-the-art technology and our own in-house Information Technology Department enhances each attorney’s ability to communicate with clients and protect proprietary information. The firm’s web-based document management system can also function as an extranet to provide clients with access to designated documents. Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services 24 | kutakrock.com o Client education. Kutak Rock has substantial experience conducting client seminars, roundtable discussions and workshops. The firm’s training opportunities for clients are unmatched by other law firms. We have provided hands-on and interactive programs for firm clients that have received high praise for their effectiveness. We expect to provide the same experience to the City. Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l Qualifications to Provide Bond Counsel Services kutakrock.com Appendix A: Signature Submittal Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l City of Fayetteville, AR  RFQ 25‐06, Bond Counsel  Page 15 of 17  City of Fayetteville  RFQ 25‐06, Bond Counsel  SECTION C: Signature Submittal  1.DISCLOSURE INFORMATION a.Proposer must disclose any possible conflict of interest with the City of Fayetteville, including, but not limited to, any relationship with any City of Fayetteville employee.  Proposer response must disclose if a known relationship exists between any principal or employee of your firm and any City of Fayetteville employee or elected City of Fayetteville official. i.If, to your knowledge, no relationship exists, this should also be stated in your response.  Failure to disclose such a relationship may result in cancellation of a purchase and/or contract as a result of your response.  This form must be completed and returned in order for your bid/proposal to be eligible for consideration. PLEASE CHECK ONE OF THE FOLLOWING TWO OPTIONS, AS IT APPROPRIATELY APPLIES TO YOUR FIRM:  ___________1) NO KNOWN RELATIONSHIP EXISTS  ___________2) RELATIONSHIP EXISTS (Please explain): _______________________________________  ___________________________________________________________________________________  ___________________________________________________________________________________  b.I certify that; as an officer of this organization, or per the attached letter of authorization, am duly authorized to certify the information provided herein is accurate and true; and my organization shall comply with all State and Federal Equal Opportunity and Non‐Discrimination requirements and conditions of employment. c.Proposer agrees that they shall have a current, valid registration with the Arkansas Secretary of State at time of RFQ deadline OR be able to provide proof of registration before recommendation of award to Fayetteville City Council. d.Pursuant Arkansas Code Annotated §25‐1‐503, the Contractor agrees and certifies that they do not currently boycott Israel and will not boycott Israel during any time in which they are entering into, or while in contract, with any public entity as defined in §25‐1‐503.  If at any time during contract the contractor decides to boycott Israel, the contractor must notify the contracted public entity in writing. e.Pursuant Arkansas Code Annotated §25‐1‐1002, the Contractor agrees and certifies that they do not currently boycott Energy, Fossil Fuel, Firearms, and Ammunition Industries during any time in which they are entering into, or while in contract, with any public entity as defined in §25‐1‐1002. If at any time during the contract the contractor decides to boycott Energy, Fossil Fuel, Firearms, and/or Ammunition Industries, the contractor must notify the contracted public entity in writing. X Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l City of Fayetteville, AR  RFQ 25‐06, Bond Counsel  Page 16 of 17  2.PRIMARY CONTACT INFORMATION At the discretion of the City, one or more firms may be asked for more detailed information before final ranking of the firms, which may also include oral interviews. NOTE: Each Proposer shall submit to the City a primary contact name, e‐mail address, and phone number (preferably a cell phone number) where the City selection committee can call for clarification or interview via telephone. Corporate Name of Firm: ___________________________________________________________________ Primary Contact: ____________________________ Title of Primary Contact: _________________________ Phone#1 (cell preferred): ____________________________Phone#2: ______________________________ E‐Mail Address: __________________________________________________________________________ 3.ACKNOWLEDGEMENT OF ADDENDA Acknowledge receipt of addenda for this invitation to bid, request for proposal, or request for qualification by signing and dating below.  All addendums are hereby made a part of the bid or RFQ documents to the same extent as though it were originally included therein. Proposers/Bidders should indicate their receipt of same in the appropriate blank listed herein. Failure to do so may subject Contractor to disqualification. ADDENDUM NO. SIGNATURE AND PRINTED NAME DATE ACKNOWLEDGED  4.DEBARMENT CERTIFICATION: a.As an interested party on this project, you are required to provide debarment/suspension certification indicating compliance with the below Federal Executive Order.  Certification can be done by completing and signing this form. b.Federal Executive Order (E.O.) 12549 “Debarment and Suspension“ requires that all contractors receiving individual awards, using federal funds, and all sub‐recipients certify that the organization and its principals are not debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded by any Federal department or agency from doing business with the Federal Government. c.Signature certifies that neither you nor your principal is presently debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded from participation in this transaction by any federal department or agency. Kutak Rock LLP Gordon M. Wilbourn Partner 501.975.3000501.975.3101 gordon.wilbourn@kutakrock.com Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l City of Fayetteville, AR  RFQ 25‐06, Bond Counsel  Page 17 of 17  5.SIGNATURE SUBMITTAL NAME OF COMPANY: _____________________________________________________________________ PHYSICAL ADDRESS: ______________________________________________________________________ MAILING ADDRESS: _______________________________________________________________________ TAX ID #: __________________________ AR. SECRETARY OF STATE FILING #: ________________________ PHONE: _________________________________________ FAX: ___________________________________ E‐MAIL: ________________________________________________________________________________ By submitting your response, you certify that you are authorized to represent and bind your company : SIGNATURE: _____________________________________________________________________________ PRINTED NAME: _________________________________________________________________________ TITLE: _______________________________________ DATE: _____________________________________ END OF RFQ DOCUMENT  Kutak Rock LLP 124 West Capitol Avenue, Suite 2000, Little Rock, Arkansas 72201-3740 124 West Capitol Avenue, Suite 2000, Little Rock, Arkansas 72201-3740 47-0597598 100178200 501.975.3000 501.975.3001 gordon.wilbourn@kutakrock.com Gordon M. Wilbourn Partner April 24, 2025 Ap p e n d i x B RF Q 25 - 0 6 , Bo n d Co u n s e l Ku t a k Ro c k ' s Su b m i t t a l