It is the goal of the Arkansas Development Finance Authority (“ADFA” or the “Authority”) to establish and support a professional selection policy to address the procedures for engaging the services of professionals in carrying out the primary business of ADFA, which is the issuance of debt instruments. These same procedures may be followed, as appropriate, in other settings where the services of professionals are engaged, but the focus of the procedures covered in this policy statement concerns the selection of underwriters, legal counsel and trustees typically engaged by ADFA in its bond and other finance projects. The primary objectives of the professional selection policy are:

The professional selection process is structured to encourage professionals to bring new and innovative ideas to the Authority, which result in new product development and opportunities for professionals. Through increased opportunities, professionals should be encouraged to use ADFA as issuer on future bond issues.

Any firm wishing to respond to an RFP or submit a proposal or statement of qualifications to ADFA for consideration, should submit their Equal Opportunity Policy to ADFA in accordance with Arkansas Act 2157 of 2005.

The President of the Authority is authorized to waive provisions set out in this RFP policy if there is a benefit to the Authority or the State of Arkansas to waive certain provisions. Any waivers approved by the President shall be reviewed by the Authority's Board and documented by the Authority.