Bond Counsel (RFP)

The bond counsel shall: a. Provide legal services on general public finance matters, i. E. Preparation of bond ordinances, etc. B. Provide legal services in connection with the issuance of short-term obligations, as set forth in section d below. C. Provide legal services in connection with the issuance of long-term obligations, as set forth in section d below. D. With respect to the issuance of short-term obligations (“notes”) and longterm obligations (“bonds”), bond counsel will undertake the following tasks, as applicable and appropriate. A. Meet with city officials, including its counsel, auditor and others, as often as necessary for the issuance of the bonds or notes and items related thereto. B. Review or draft all authorizing and operative financial documents necessary to effectuate the transaction. In developing a financing plan, bond counsel will give advice with respect to tax law, securities law and state law consequences and will review the proposed use of the proceeds of the bonds or notes to ensure compliance with the provisions of the internal revenue code and the regulations promulgated thereunder. D. Prepare all applications and filings and appear before the appropriate state agencies, if necessary, in connection with the sale of the bonds or notes. E. After the sale of the bonds or notes, bond counsel will prepare and arrange for the preparation of the bonds or notes for execution, will prepare and oversee the execution of the necessary closing certifications and will establish a time and place for delivery of the bonds or notes to the purchaser. Bond counsel will attend the closing with appropriate city officials, at which time the bonds or notes will be delivered, payment will be made for the bonds or notes and bond counsel will issue a written legal opinion based on facts and laws existing as of said date that: 1. The bonds or notes are legal, valid and binding obligations of the city enforceable in accordance with the terms thereof; and 2. Subject to certain limitations which may be expressed in the opinion, the interest on the bonds or notes will be: (i) excluded from gross income for federal income tax purposes; and (ii) exempt from new jersey income tax. In rendering opinions, bond counsel will rely upon the certified proceedings and other certifications of city officials and other persons furnished to us without undertaking to verify the same by independent investigation. F. Bond counsel does not advocate the interests of the city or any other party in the transaction. Bond counsel assumes that the city will be represented by its counsel and other parties to the transaction will retain such counsel as they deem necessary and appropriate to represent their interest. G. Provide legal services related to the activities of the city’s redevelopment entity.