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Request for Qualifications for Bond Counsel

Request for Qualifications for Bond Counsel 2025

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The document is a Request for Qualifications (RFQ) issued by the County of El Paso, Texas, seeking proposals from qualified law firms to provide bond counsel services. It outlines the purpose, background, and requirements for submission, including qualifications needed, ethical standards, and the selection process. The RFQ emphasizes the importance of experience in bond counsel services for Texas counties and details the expected scope of work related to various types of bond sales. Additionally, it includes guidelines for proposal submissions, evaluation criteria, and legal compliance.

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Who selects bond counsel?

Issuers should select bond counsel on the basis of merit using a competitive process and review those relationships periodically. Note: This Best Practice (BP) is one of a group of five relating to the sale of bonds.

What does it mean when a lawyer asks for a bond?

A bond is a formal written agreement where a person agrees to do something (such as appear in court) or stop doing something (such as committing a crime). If the person doesnt comply with the agreement, he/she (or a surety, also called a bondsman) then forfeits the money paid for the bond.

What is the role of the bond counsel?

Bond Counsels primary function in a public finance transaction is to provide a legal opinion with respect to the validity of the Bonds and other subjects, particularly the federal and state tax treatment of Interest on the Bonds.

Is bond counsel necessary?

In the case of tax-exempt bonds, the bond counsel will also play a role in protecting the investor from any potential issues that might convert the tax-exempt bonds into taxable bonds in the future due to non-compliance with tax regulations.

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