RFP: SEWERAGE SYSTEM DESIGN BOND

The City of Fairmont ("City") is seeking proposals from financial institutions for the purchase of **$4,000,000** in aggregate principal amount of tax-exempt Bond Anticipation Notes (the "Notes") to finance the design of additions, betterments and improvements to the City's existing sanitary sewerage collection and treatment system and other pre-construction activities related thereto (collectively, the "Project") (the existing public sanitary sewerage collection and treatment system of the City and any further additions, betterments and improvements thereto (including such additions, betterments and improvements designed by the Project) are herein called the "System").

The Notes will be issued by the City. The City shall, from the Surplus Revenues of the System, pay the interest on the Notes. The Notes shall bear interest based on the outstanding principal amount of the Notes. Interest on the Notes shall be paid monthly.

Basic terms of the financing

• Issuer: City of Fairmont
• Principal Amount: **$4,000,000**
• Principal Advances: Advances of principal on the Notes shall be made over the initial 36 months of the Term.
• Term: Four (4) years; prepayment in whole or in part at any time permitted without penalty.
• Interest: Please provide a quote with simple interest at a tax-exempt bank-qualified rate. Must be quoted as a fixed rate (non-adjustable) for the Term. Payments will be made monthly and consist of interest only on principal advanced. For purposes of the interest rate quotation, assume that the closing will occur within sixty (60) days of the due date for the responses to this request for proposals.
• Source of Payment/Security: Interest payments on the Notes will be payable from, and secured by Surplus Revenues of the System to be paid by the City. The principal of the Notes shall be paid in full with the proceeds of one or more Sewer Revenue Bonds issued by the City for the purpose of permanently financing the costs of the Project on, or prior to, the maturity date of the Notes. The principal of and interest on the Notes are NOT secured by the Net Revenues of the System or any other revenues of the City.
• Tax Status of Interest on Notes: Federal and West Virginia tax-exempt. The Notes will be "bank qualified" pursuant to Section 265(b)(3) of the Internal Revenue Code.
• Bond Counsel and Legal Opinion: Steptoe & Johnson PLLC, Charleston, West Virginia will draft the Notes and all ordinances, resolutions, certificates, and other documents, and if all necessary conditions are satisfied, will deliver their unqualified approving opinion regarding the validity, and tax-exempt and bank-qualified status of the Notes.
• Bank Expenses: Please provide in your response a not to exceed amount for each expense, if any, which the City will be required to pay in connection with the Bank's purchase of the Notes, specifically including, but not limited to, fees of Purchaser's Counsel.

If you wish to submit a proposal for purchase of the Notes, please submit it **in writing by 11:00 a.m. on November 25, 2026**, at the Fairmont Wastewater Treatment Plant, 901 Howard Avenue, Fairmont, West Virginia 26554, Attn: Lara Vanfosson (email: lvanfosson@fairmontwv.gov). Please also email a copy of your proposal to John Stump.

Additional financial information regarding the System may be obtained from Lara Vanfosson, Utility Controller, City of Fairmont, at 304.366.6211 (email: lvanfosson@fairmontwv.gov). Additional information regarding the structure of the financing may be obtained from John Stump, Steptoe & Johnson PLLC, Bond Counsel, at 304.549.8196 (email: john.stump@steptoe-johnson.com). Upon request, the City will provide to any interested lender copies of its most recent audited financial statements, the current budget for the System and the ordinance enacted by City Council authorizing the issuance of the Notes.

The City will pay all fees and expenses of bond counsel and any other counsel engaged by the City. The City reserves the right to reject any and all proposals or parts thereof. The City has no liability for any expenses of institutions related to the submission of a response to the Request for Proposals.