The Maryland State Treasurer’s Office (the “Office”), which is issuing this Invitation For Bids (“IFB”), is requesting bids for financing, on a consolidated basis, the acquisition by agencies (the “Agencies”) of the State of Maryland (the “Lessee” or the “State”) of certain equipment under a tax-exempt lease-purchase financing arrangement (the “Lease”, also referred to herein as the “Contract”). The successful bidder (the “Lessor” or “Contractor”) will provide financing for $802,594.16 in new equipment purchases (the “Equipment”). The financing is expected to close January 17, 2018 (the “Financing date”). The financing shall be provided as described in Section III of this Invitation for Bids (“IFB”).
Procurement Officer: Anne Jewell
The sole point of contact for purposes of this procurement is the Procurement Officer. The Procurement Officer may designate others to act on her behalf. The Office may change the Procurement Officer or change the limits of her authority at its discretion. Prospective bidders who have received this document from a source other than the Issuing Office should immediately contact the Issuing Office and provide their name, mailing and email address so that any amendments to the IFB and other communications may be sent to them.
This IFB is also available on the State Treasurer’s website in PDF format at https://www.treasurer.state.md.us by clicking on “Procurement Information” and then “IFB for January 2018 Tax-Exempt Equipment Lease-Purchase Financing,” and on the State of Maryland’s eMaryland Marketplace at https://emaryland.buyspeed.com/bso.
Bids are due by 11:00 a.m. ET on 12/27/2017
Louisiana voters Saturday chose Covington businessman John Schroder to be the state’s treasurer for the next two years. He defeated Derrick Edwards 56% to 44% with just over 300,000 total votes cast.
The election was prompted by John N. Kennedy’s election to the U.S. Senate — Treasurer-elect Schroder was elected to complete the last two years in Kennedy’s term.
Schroder is an entrepreneur from Covington. As a state legislator he helped found the “House Fiscal Budget Hawks.” The ‘Budget Hawks’ are a group of legislators committed to ending wasteful government spending, balancing the budget and ending the practice of using one-time money on recurring expenses.
John is a vocal opponent to increasing taxes on Louisiana taxpayers and has been one of several leaders pushing for a streamlined budgeting process and the overhaul of the entire tax system for Louisiana.
John is a graduate of East Jefferson High School, Southeastern Louisiana University, and a Veteran of the United States Army. He is a small businessman, real estate agent, and developer. John has been married to Ellie Daigle Schroder for 31 years. They are the proud parents of two successful children, Brittany and John Michael.
WASHINGTON, D.C. – The National Association of State Treasurers (NAST) released the following statement today in response to the tax reform bill passed by the U.S. House of Representatives and its impact on infrastructure investments.
“State and local governments finance more than three-quarters of all U.S. infrastructure projects— primarily through tax-exempt municipal bonds— so NAST is pleased to see the House pass a tax reform bill that protects this important financial tool,” said NAST president and Oklahoma State Treasurer Ken Miller. “We are concerned, however, that changing the treatment of private activity bonds, advance refunding bonds, and tax credit bonds will have a negative impact on overall infrastructure spending. As the Senate finalizes their tax reform bill, we urge them to maintain the current treatment of these bonds to ensure the country is fully prepared to finance the Administration’s ambitious infrastructure plan in the year ahead.”
Earlier this month, NAST highlighted that the House tax reform bill preserved several other measures that state treasurers have worked diligently to advance, including popular retirement savings options and higher education benefits. To learn more, click here.
WASHINGTON, D.C. – The National Association of State Treasurers (NAST) released the following statement today in response to an amendment to the House tax reform bill, which would allow people to transfer funds from 529 college savings plans to Achieving a Better Life Experience (ABLE) accounts.
“Tax-free savings accounts such as 529 college savings plans and ABLE accounts help millions of Americans save for significant life expenses, so we applaud the House for streamlining these important financial tools,” said NAST President and Oklahoma State Treasurer Ken Miller. “Congress established ABLE accounts in 2014 to afford individuals living with disabilities the same saving opportunities that all Americans have through 529 college savings programs. Since then, state treasurers have worked diligently to implement, administer and expand ABLE accounts to ease financial strains for families across the country. We are pleased that this new amendment would allow Americans to seamlessly transfer funds from 529 plans to ABLE accounts, and we look forward to working with the House and Senate to ensure the final bill includes this beneficial measure.”
To learn more about NAST’s federal policy positions, click here.
North Carolina Retirement Systems, Raleigh, launched an initiative to handle passive investing in equities, Treasurer Dale Folwell said on a press call Tuesday.
“We are one of the few treasurers in the U.S. that does not have in-house index capabilities,” Mr. Folwell said on the call.
The switch is the result of an initiative started under his predecessor, Janet Cowell, and former Chief Investment Officer Kevin SigRist, who resigned in July. The state treasurer is the sole trustee of the $93.9 billion pension fund.
The internal index program will start with $50 million in cash and $50 million reallocated from Piedmont Investment Advisers, which helped North Carolina make the change. That represents a “slight reduction” in Piedmont’s North Carolina allocation, Mr. Folwell said. It will follow the Russell 2000 index.
Piedmont still has $3.63 billion in passive indexing funds for the pension fund. The rest is managed by BlackRock (BLK), which has $9 billion in U.S. equities and $8 billion in non-U.S. equities.
The ultimate goal is to manage about $12.5 billion in U.S. passive equities in-house, which represents about 30% of the pension fund’s equity holdings and 12% of the overall portfolio.
“This time next year we will be reporting that all of our indexing will be done in-house,” Mr. Folwell said on the call. “As we go further into next year … international passive strategies seems to be a natural place to go next.”
The current plan is to bring all U.S. funds in-house within two years, and then consider the non-U.S. ones in year three, he said.
“This is just an extension of what we’ve been saying all year, which is reducing complexity and improving transparency. In dollar terms we’re going to save fees,” he said, adding that it also allows a little more control over where assets are invested.
The program will be overseen by Rhonda M. Smith, director of the equities program.
WASHINGTON, D.C. – The National Association of State Treasurers (NAST) released the following statement today responding to specific sections of the tax reform bill introduced by the U.S. House of Representatives Committee on Ways and Means. The legislation proposes to keep municipal bonds tax-exempt, retain popular retirement savings options, and preserve higher education benefits such as 529 College Savings Plans.
“While we are still reviewing the details, the tax reform legislation released today appears to maintain several bipartisan-supported programs that state treasurers have worked tirelessly to advance,” said NAST President and Oklahoma State Treasurer Ken Miller. “Specifically, NAST is encouraged to see the Committee retain the tax-exempt status of municipal bonds. State and local governments have used this funding mechanism for more than a century as a low-cost, viable way to finance bridges, roads, schools, hospitals and other services that improve the quality of life for all Americans. We are reviewing the bill’s impact on other bonds, including private activity bonds, advance refunding bonds, and tax credit bonds. We are also glad to see the Committee preserve higher education benefits, such as 529 College Savings Plans, and popular retirement savings options that help Americans continue to save for their future. The maintenance of these important programs will directly benefit our constituents and strengthen our country’s economy for years to come.”
“For more than forty years, NAST has advocated for bipartisan measures that improve our nation’s infrastructure, help families save for college, and enhance state pension plans. We hope that the Committee recognizes the value of these initiatives and will actively support their continuation,” added Vermont State Treasurer and incoming NAST President Beth Pearce. “NAST looks forward to working with the House and Senate in the days and weeks ahead to ensure that the final bill protects these important measures.”
To learn more about NAST’s federal policy positions, click here.
This brochure is your guide to NAST in 2018 with information on all of our conferences, membership benefits and information and more.
NAST is excited to share with you our conference brochure for 2018 including all sponsorship opportunities. Thank you to our Corporate Affiliate firms for their feedback on our sponsorship program. Based off that feedback, we are also excited to share our new sponsorship package promotion with you. Firms who sponsor at any level for all three conferences will receive one complimentary registration to a conference of their choice and receive logo recognition as a 2018 Conferences Sponsor on the NAST website, conference slides, and the membership and conference brochures. Please provide us with your sponsorship commitment by January 15, 2018 to participate in this offer!
We hope you will consider supporting NAST conferences by purchasing a sponsorship and enjoying the valuable benefits! Please contact Emma at firstname.lastname@example.org if you are interested in becoming a sponsor. Thank you for your support of NAST!