Western Illinois University
Announcement of a Sole Source Purchase
Vendor: Standard & Poor's, New York, NY
Amount: An estimated $27,500
An estimated start date of 2/16/2012 through 6/30/2012, 5 months
The University award process may be delayed up to thirty days as this award goes through a state approval process.
First published Wednesday, January 18, 2012
The University awarded a contract for Financial Rating Services to Standard & Poor's, New York, NY, for an estimated $27,500.
The University is seeking to obtain a financial rating in order to access the bond market and reduce borrowing costs.
This purchase is only economically available from a single source because the
University's previous issues are rated by Standard & Poor's. Therefore the University has to pay an annual surveillance fee to Standard & Poor's for the life of those issues. If another rating agency were chosen, the University would be required to pay an annual surveillance fee to the other rating agency as well as to Standard & Poor's because of the other outstanding debt issues.
For additional information, contact:
A public hearing will be held at which interested parties may testify for or against
the sole source determination as described in this notice. The purpose of the hearing
is to receive information from the public in a reasonable manner. Formal rules of
evidence will not apply.
The hearing panel will produce minutes of the hearing and may record it in order
to aid in the production of the minutes. Interested parties wishing to comment
for or against the determination may do so in writing or in person. If you wish
to testify, prior registration is requested to ensure adequate time is allowed for all parties.
February 8, 2012
401 S Spring Street
Date, time, and location are
subject to change. It is the responsibility of potential
participants to confirm these details prior to attendance.
February 7, 2012
Written comments may be submitted in lieu of or in addition to oral testimony.
All such comments shall be considered public record and open to review by the
Written comments must be received no later than
February 7, 2012.
Any party who wishes to testify must register in advance to guarantee an opportunity
to testify. Individuals who have not registered in advance may be heard, time
permitting, at the discretion of the Hearing Officer. An individual will be
heard only once on a particular item.
Proceedings from the meeting will be available for download following the hearing date.
This transaction is subject to the State Board of Elections registration and certification requirements of Public Act 095-0971.
The State of Illinois has a policy to encourage prospective vendors to hire
qualified veterans, minorities, females, persons with disabilities and ex-offenders.