MS HB1148

State Bond Commission, Mississippi Development Bank, and Mississippi Business Finance Corporation must select bond counsel through competitive request for proposals process based on lowest and best proposal.

Evaluation factors for proposals include law firm history, staff qualifications and licenses, performance on similar contracts, pending lawsuits or investigations, and other relevant information deemed necessary by the issuer.

Request for proposals must provide public notice for at least 10 working days through newspapers, websites, and trade publications; proposals opened publicly and recorded for inspection.

Section 31-17-5 amended to require bond counsel requests for general obligation or revenue bond issues be issued per this competitive process, with selected counsel names and payment amounts posted on Department of Finance and Administration and State Treasurer websites.

Effective date: July 1, 2018.