Upcoming Purchases & Bid Solicitations Upcoming Purchases and Bid Solicitations STATEMENT OF QUALIFICATIONS -- INVESTMENT BANKING SERVICES: UNDERWRITER FIXED RATE BONDS

I. INTRODUCTION

The Delaware River Port Authority (“Authority”) owns and operates four (4) major bridge crossings over the Delaware River between Pennsylvania and New Jersey in the Philadelphia area, including: the Betsy Ross Bridge (between Philadelphia, Pennsylvania and Pennsauken, New Jersey); the Benjamin Franklin Bridge (between Philadelphia, Pennsylvania and Camden, New Jersey); the Walt Whitman Bridge (between Philadelphia, Pennsylvania and Gloucester City, New Jersey); and the Commodore Barry Bridge (between Chester, Pennsylvania and Bridgeport, New Jersey).The Authority also owns and operates, through its operating subsidiary, Port Authority Transit Corporation (“PATCO”), the PATCO High Speed Line which runs from Lindenwold, New Jersey to Philadelphia, Pennsylvania.

Associated with each bridge and the PATCO facilities are numerous office buildings, maintenance shops and garages, and other buildings and structures.

As of March 31, 2023, there is $933,935,000 principal amount of Revenue Bonds outstanding under the 1998 Revenue Bond Indenture. All of the Authority’s Revenue Bonds issued under and pursuant to the 1998 Indenture are equally and ratably secured and payable by a pledge of and security interest in the Authority’s Net Revenues, including tolls and charges for the use of the bridges. All of the Authority’s outstanding Revenue Bonds are fixed rate obligations. The Authority has no variable rate Revenue Bonds or swap agreements.

As of March 31, 2023, there is $53,305,000 in principal amount of Port District Project Refunding Bonds, Series 2022 outstanding under the Port District Project Bonds Indenture of Trust dated December 1, 2022. The 2022 Port District Project Bonds are general corporate obligations of the Authority and are not secured by a lien or charge on or pledge of any revenues, including the Authority’s Net Revenues, or other assets of the Authority. The 2022 Port District Project Bonds are fixed rate obligations and are non-callable. are

Additional information regarding the Authority and its operations can be obtained by reviewing the annual reports available on the Authority’s website (www.drpa.org, “About, Financial Information, Annual Reports”).
II. PURPOSE AND INTENT

The Authority hereby invites interested professional firms to submit a Statement of Qualifications (“SOQ”) for Investment Banking Services: Underwriter Fixed Rate Bonds Project (the “Project”). This public advertisement constitutes the Authority’s formal solicitation to determine the interest of qualified firms in the aforementioned project.
III. TERM OF ENGAGEMENT

It is expected that the term of engagement for the Project will be approximately three (3) with an option to renew at the Authority’s sole discretion for two (2) additional years, which shall commence as of the date of execution of an Agreement following the RFP process.

IV. REQUESTED INFORMATION

The SOQ shall describe the following:

• Cover Letter. Please include the full legal name and business address of the Respondent (not to exceed two pages).
• Acknowledgements. The return of the RFQ cover sheet and all addenda acknowledgements signed and completed as required.
• Contact Information. Provide the name and address of the firm; the name, telephone number, fax number, and e-mail address of (i) the principal professionals to be assigned to the Authority and (ii) the individual(s) responsible for the preparation of the response to this RFQ.
• Brief Description of Firm and Capabilities. Provide a brief history and description of your firm and its capabilities. Describe the retail & institutional bond distribution capabilities. Include in the description the number of retail offices and retail accounts located in both Pennsylvania and New Jersey. Include a statement of the total capital, net capital and minimum excess net capital as of December 31, 2021 and December 31, 2022.
• Minimum Submission Qualifications (for Underwriters). Please list the qualifying transaction(s) required under Section III. B. Include a description of the issues pertinent to these transactions that are relevant to the Authority. Please provide: name of issuer, par amount, maturity, rating, credit enhancement, security information and any related derivatives (limit of two pages).
• Authority Issues. Please discuss the Respondent’s assessment of the most critical issues for the Authority to consider relating to the issuance of potential new money or refunding Revenue Bond issues in the next 24 months (limit one page).
• Staffing Levels. Detail the staffing level of your firm including principals and associates to be dedicated to this engagement. Please provide brief résumés of the individuals detailed in Staffing Levels above. Indicate the role of each individual in serving the Authority.
• Office Location. The location of Respondent’s office, if other than the vendor’s main office, at which the Respondent proposes to perform services required under this RFQ.
• References. Provide three (3) references (which can be contacted during the RFQ process) indicating the governmental entity name, contact person, his/her title and address and telephone number for whom you have provided similar services over the past two years.
• Conflicts. Describe any existing or potential conflicts of interest your firm might have, or which reasonably might arise, due to your involvement with the Authority.
• Regulatory Compliance. Indicate whether the firm is in compliance with applicable regulations and the nature of any non-compliance, including the SEC, MSRB and banking regulators.
• Material Adverse Litigation. If the Respondent or any principal therein has been engaged as a defendant in any litigation involving a sum of $100,000 or more and/or has been subject to any professional disciplinary action over the last three (3) years, the Respondent must provide a description of the litigation and/or disciplinary action, and if applicable, present status of said action (s).
• Investigations. Please provide a brief summary of any ongoing investigations or administrative proceedings involving the Respondent, its directors, officers and principals and any individuals employed by the Respondent that relate to the performance of the Respondent in the underwriting, or remarketing, of securities or the provision of derivatives. Include in the response any investigations or proceedings by federal or state authorities.

V. SOQ SUBMISSION AND DUE DATE

One (1) electronic copy of the written SOQ must be submitted, in PDF format, electronically via the Ariba Network no later than 2 pm EST on Tuesday, May 9, 2023.

LATE, FAXED, E-MAILED, AND/OR HARDCOPIES WILL NOT BE ACCEPTED. The Ariba submission requirement is mandatory and non-waivable.

In order to participate in this SOQ and receive an invitation to the solicitation event, please send a request, via e-mail, to the following Contracting Officer: Amy L. Ash at alash@drpa.org. If a response is not received within two (2) business days, please resend the request and copy to vendors@drpa.org on your e-mail.

In order to access the SOQ event, you must be registered on the Ariba Network and have completed the Authority's supplier registration questionnaire. If you have not already done so, you can register on the Ariba Network at any time. Registration is free, quick and easy. Please go to the DRPA Procurement website: http://www.drpa.org/procurement for registration instructions and additional information. For questions about the Ariba registration process or registration technical issues, please send an e-mail to vendors@drpa.org.

Firms should ensure that they can access and upload files in Ariba prior to the submission deadline. It is the respondent’s responsibility to ensure submission of its SOQ to the proper place at the proper time. Absent an emergency or unanticipated event that interrupts normal Authority processes so that SOQs cannot be received via Ariba by the exact time specified in the SOQ, the Authority will not extend the submission deadline for an interested firm due to its technical difficulties.

VI. SINGLE POINT OF CONTACT

The DRPA has established a Single Point of Contact for this SOQ. From the issue date of this advertisement, the Single Point of Contact shall be the Contracting Officer whose name and contact information appears below. Please refer all inquiries related to the SOQ to the Contracting Officer.

Any violation of this condition (excluding any Ariba supplier registration questions, which should be addressed by e-mailing vendors@drpa.org) may be cause for the Authority to reject the offending firm. Respondents agree not to distribute any part of their SOQ beyond the Authority’s Contract Administration Department. A Respondent that shares information contained in its SOQ with other Authority personnel may be disqualified and its SOQ may be rejected.

The Single Point of Contact for this Project is:

Amy L. Ash, Manager, Contract Administration
alash@drpa.org
856-968-2084

VII. EVALUATION OF SOQs

All SOQs will be reviewed to determine responsiveness. The Authority may reject non-responsive SOQs without evaluation but may waive minor non-compliance.

All SOQs will be reviewed by an Evaluation Committee who will make recommendations regarding which Respondents the Committee believes to be qualified. The evaluation team will evaluate and rank each SOQ considering the following factors; the order of factors should not be considered determinative of importance:

A. Understanding and Approach
B. Qualifications and Experience
C. Overall Completeness and Quality of SOQ
D. MBE/WBE Participation
E. Maintenance of a local office

The Authority will establish a short list of consultants to receive an RFP and to engage a consultant for this Project.

The final determination will be based on the Authority’s evaluation, in its sole judgment, of which SOQs best meet the needs of the Authority.

This SOQ does not commit the Authority to awarding a Contract. Respondents shall bear all costs incurred in the preparation of the SOQs and participating in the SOQ process. The Authority reserves the right to reject any and all SOQs, the right in its sole discretion to accept the SOQs it considers most favorable to the Authority’s interests, and the right to waive minor irregularities. The Authority further reserves the right to reject all SOQs and seek new SOQs when such procedure is reasonable and in the best interests of the Authority. In addition, the Authority may at any time revoke this SOQ in its sole discretion and without assuming any liability in connection with its issuance and/or revocation.

VIII. EQUAL OPPORTUNITY

The Delaware River Port Authority is firmly committed to providing full and equal business opportunities to all persons regardless of race, creed, color, religion, sex, sexual orientation, marital status, civil union and domestic partnership status, gender identity or expression, pregnancy, breast feeding, military services, veteran status, national origin, ancestry, age, non-job related disability, genetic information or testing results, income level, limited English proficiency (“LEP”) or other protected group characteristic. In that regard, the Authority will affirmatively assure that minority and female-owned business enterprises are afforded equal opportunities to submit bids and/or proposals for consideration for all purchases and contracts issued in connection with this Project. Prospective proposers should understand that the participation of certified MBEs and WBEs is a matter of great interest to the Authority.

DELAWARE RIVER PORT AUTHORITY

By Amy L. Ash
Manager, Contract Administration
Phone: 856-968-2084