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2011-02-23 CC Packet
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2011-02-23 CC Packet
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* Assist the City in receiving the bids, compute the accuracy of the bids received, and <br /> recommend to the City the most favorable bid for award. <br /> * Coordinate with bond counsel the preparation of required contracts and resolutions. <br /> Post Sale Support <br /> * Coordinate the bond issue closing including making all arrangements for bond printing, <br /> registration, and delivery. <br /> * Furnish to the City a complete transcript of the h�ansaction. <br /> * Assist, as requested by the City, with the investment of bond issue proceeds. <br /> Investment Assistance: <br /> Should the City desire to invest the proceeds from the Debt issuance or any other funds of the City <br /> through NSI in its capacity as a broker, NSI shall, at all times, transact such investments as <br /> principal. <br /> COMPENSATION <br /> For the proposed sale by the City of its approximate $2,755,000 General Obligation Improvement <br /> Refunding Bonds, Series 2011A, (the "Bonds"), NSI's fee shall be a lump sum of $13,400. The <br /> fee due to NSI shall be payable by the City upon the closing of the Bonds. <br /> NSI agrees to pay the following expenses from its fee: <br /> * Out-of-pocket expenses such as travel, long distance phone, and copy costs. <br /> * Production and distribution of material to rating agencies and/or bond insurance <br /> companies. <br /> * Preparation of the bond transcript. <br /> The City agrees to pay for all other expenses related to the processing of the bond issue(s) <br /> including, but not limited to, the following: <br /> * Engineering and/or architectural fees. <br /> * Publication of legal notices. <br /> * Bond counsel and local attorney fees. <br /> * Fees for various debt certificates. <br /> * The cost of printing Official Statements, if any. <br /> " City staff expenses. <br /> * Airfare and lodging expenses of one NSI official and City officials when and if <br /> traveling for rating agency presentations. <br /> * Rating agency fees, if any. <br /> " Bond insurance fees, if any. <br /> * Accounting and other related fees. <br /> It is expressly understood that there is no obligation on the part of the City under the terms of this <br /> Agreement to issue the Bonds, If the Bonds aze not issued, NSI agrees to pay its own expenses <br /> and receive no fee for any services it has rendered. <br /> Page 2 <br /> 66 <br />
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