Project Information

Bid Title

Request for Qualifications Bond Underwriting Services - Craig Sports Complex

Issuing Agency

City of Craig

Location

Colorado

Published Date

Dec 17, 2025

Closing Date

Jan 21, 2026

Government Level

State & Local

Status

Closed

Original Source

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Bid Documents

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Project Description

Description	Opening Date/Time	Closing Date/Time
Request for Qualifications Bond Underwriting Services - Craig Sports Complex	December 17, 2025 8:00 AM	January 21, 2026 2:30 PM

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City of Craig, Colorado

Request for Qualifications (RFQ)

Bond Underwriting Services for the Craig Sports Complex

I. Introduction

The City of Craig, Colorado (“City”) is requesting proposals from qualified firms specializing

in bond underwriting services to assist in the financial planning and modeling for the

proposed Craig Sports Complex. The selected firm will provide professional assistance as

the City prepares for a potential future tax initiative related to the financing of this project.

The City will select the firm that best meets its overall expectations and demonstrates the

highest level of experience and value in bond underwriting, specifically within the parks

and recreation sector.

II. Project Background

The City of Craig operates two outdoor seasonal pools that have long served as cornerstone

facilities for the Craig Parks & Recreation Department. The lap pool is approaching 50 years

of service, and the wave pool recently reached its 40th anniversary. These facilities

represent the most utilized services within the department, yet their age has led to

increasing maintenance challenges and escalating repair costs.

In 2022, the City completed a Feasibility Study that provided an in-depth assessment of the

existing pools and community recreational needs. Findings from that study revealed:

• Repair costs for the current pools were estimated at approximately $2 million just to

restore them to standard conditions.

• Community support existed for a year-round indoor aquatic facility.

• Broader community feedback identified a desire for indoor recreation space, including

pools and gymnasiums.

Following the feasibility study, the City engaged OLC (Ohlson Lavoie Corporation) to

complete Phase 1: Programming and Concept Planning and Phase 2: Schematic Design of

the proposed Craig Sports Complex. This facility has been identified as a top community

priority and is supported by long-range planning documents, including the 2019 Parks &

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Recreation Trails and Open Space Master Plan, which emphasized the need for year-round

recreation opportunities.

III. Scope of Services

The selected firm will provide the following services:

1. Assist the City in developing financial models for proposed financing options related to

the Craig Sports Complex with an agreement that all work product generated under any

contract, including models, presentations, data, and analyses, shall be the sole property of

the City.

2. Provide professional underwriting services for any future debt issuances, including

preparation, sale, and marketing of bonds.

3. Advise on market conditions, bond structures, and strategies for achieving the most

favorable financing outcomes.

4. Support the City in presentations, public communications, and community education

efforts related to financing.

5. Describe your firm’s approach to meeting performance expectations, including timely

communication, response times, alternative financing structures, and participation in public

meetings when requested.

IV. Proposal Requirements

Please limit your proposal to five (10) pages total, including the cover letter. Responses

should follow the order outlined below.

A. Colorado Experience

1. Describe your firm’s experience in underwriting parks and recreation bond issues in

Colorado or within proximity to Moffat County.

2. Provide a list of issues originating in Colorado since 2015 where your firm served as

underwriter, senior manager, or co-manager, including name of issuer, issue size, sale date,

description, and your firm’s role.

3. Describe previous experience serving communities constructing similar recreation

facilities.

4. Describe your firm’s public finance presence in Colorado, including number of employees,

office locations, and key professionals.

5. Describe your firm’s support of Colorado credits in the secondary market.

6. Summarize your firm’s sales and trading capabilities and approach.

7. Provide three applicable references.

8. Firms must agree to maintain confidentiality of sensitive information and coordinate with

the City regarding Colorado Open Records Act (CORA) requests.

B. Underwriting Expertise

1. Provide a fee schedule for underwriting any debt financing associated with the Craig

Sports Complex.

2. Include résumés for each professional assigned to the City’s financing, including Lead or

Co-Lead Banker, Quantitative Analyst, Underwriter/Syndicate Specialist, and

Research/Credit Rating Specialist.

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C. Unique Attributes

1. Describe any unique attributes or resources your firm brings to support the City of Craig’s

future financing and public engagement efforts.

2. Disclose any litigation, legal, or regulatory proceedings initiated against professionals

from your firm since January 1, 2015, related to municipal bond activities.

3. Provide any additional information that may assist the City in evaluating your firm’s

qualifications and suitability to serve as underwriter.

4. Provide a clear, itemized underwriting fee schedule, including all takedown components,

and identify any not-to-exceed pricing commitments.

V. Selection Process

The City will evaluate proposals based on the following criteria:

• Experience and qualifications of the firm and assigned personnel and no key personnel

proposed in the RFQ may be replaced without prior written approval by the City.

• Demonstrated success in similar municipal bond transactions.

• Understanding of Colorado’s municipal finance environment.

• Fee proposal and cost-effectiveness.

• Creativity, innovation, and value-added services.

VI. Submission Instructions

Deadline for Submission:

Submit Proposals To: Kathleen Carmody

City of Craig – City Clerk’s Office

300 West Fourth Street

Craig, CO 81625

Electronic submissions may be accepted via email at: kcarmody@cityofcraig.org

Late proposals will not be accepted.

VII. Questions

Questions or requests for clarification should be directed to:

Ryan Dennison, Parks & Recreation Director

Email: rdennison@cityofcraig.org

Phone: 970-826-2004

Katie Carmody, City Clerk/HR Director

Email: kcarmody@cityofcraig.org

Phone: 970-826-2008

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VIII. Anticipated Timeline

Distribution of Request for Proposals

December 17, 2025

Questions & Inquires

January 9, 2026

Response to Questions

January 14, 2026

*Response to questions will be posted on City website by end of business day.

Proposal Due Date

January 21, 2026, at 2:30 pm (MST)

Interviews with Selected Candidates

Week of January 26

Recommendation to City Council

February 10, 2026

X. General Conditions and Requirements

All proposals submitted to the City of Craig are subject to the following conditions:

• Public Record: Proposals are public records under the Colorado Public Records Act once

the review process or contract award concludes.

• Additional Information: The City may request clarification or additional information.

• Proposal Acceptance/Rejection: The City reserves the right to reject any or all proposals

or waive informalities.

• Right to Cancel/Amend: The City may amend or cancel this RFQ at any time.

• Debarment: Firms must certify they are not currently debarred from contracting with any

Colorado public agency.

• Limitation: This RFQ does not commit the City to award or pay for costs incurred in

proposal preparation.

• Modification of Scope: The City may modify the scope of services prior to award.

• Award: Selection may occur without discussion based on initial submittals.

• Coordination of Work: Communication and scheduling will be coordinated through the

City’s designated representative.

• Inspection: All deliverables are subject to review and approval by the City.

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Commodity Codes

• NAICS 236220Commercial and Institutional Building Construction
• NAICS 541330Engineering Services
• NAICS 541611Administrative Management and General Management Consulting Services

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