(1) No service provider or underwriter shall be selected by the Governing Board except pursuant to a solicitation document, a review of the responses to the solicitation document by a selection committee, and a report to the Governing Board by the selection committee, except upon the unanimous vote of the Governing Board members present at a meeting of the Governing Board providing that an exception is required because delay would cause substantial harm to the State.
    (2) Each solicitation document for a service provider or underwriter shall include, but shall not be limited to, the following applicable provisions:
    (a) Each service provider or underwriter shall provide information on the outcome of any litigation or administrative proceeding, during the two years prior to the date of the solicitation document, adverse to the service provider or underwriter in any matter related to the professional activities of the service provider or underwriter;
    (b) Each underwriter shall certify that their selection would not violate Florida Statutes § 215.684, which prohibits the state from selecting certain underwriters;
    (c) Each underwriter shall provide an estimate of the amounts for each component of the gross underwriting spread;
    (d) Contain a statement that the Governing Board retains the discretion to decide not to sell the bonds to the selected underwriter or to terminate the selection of the underwriter without cause and without penalty and that the selection of an underwriter does not assure that the bonds will ultimately be sold to the underwriter;
    (e) Provide that the Division reserves the right to conduct any investigation of the qualifications of any service provider or underwriter that it deems appropriate;
    (f) Provide that the Division reserves the right to negotiate modifications to any of the items proposed in the responses to the solicitation, request additional information from any service provider or underwriter, reject any or all responses, or waive any irregularities in the responses;
    (g) Provide that the Division may consider a response which does not include all requested information as non-responsive and may reject such response;
    (h) Inform the service providers or underwriters that any information submitted in response to the solicitation document is considered a public record pursuant to Florida Statutes Chapter 119, and is available for public inspection.
Rulemaking Authority Florida Statutes § 215.62(5). Law Implemented 215.64(5), 215.68(5) FS. History-New 12-3-91, Formerly 13K-6.005.