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2002-08-23 Proposed Right of Way Ordinance Memo
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2002-08-23 Proposed Right of Way Ordinance Memo
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<br />Bond Sales <br /> <br />. Prepare, cause to be printed, and distribute the Official statement and Bid Fonn to <br />prospective bidders. <br />. Cause to be published the Official Notice of Sale ifrequired by law. <br />. Recommend whether the issue should secure a bond rating. If the issue is to be rated, <br />prepare and furnish to the rating agencies the information they require to evaluate the issue <br />and provide their rating. Serve as the City's representative to the rating agencies. <br />. Directly contact underwriters most likely to serve as syndicate managers to assure that <br />bidding interest is established. <br />. Assist the City in receiving the bids, compute the accuracy of the bids received and <br />recommed to the City the most favorable bid for award. <br />. Coordiuate with bond counsel the preparation of required contracts and resolutions. <br /> <br />Post Sale Support <br /> <br />. Coordiuate 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 transaction. <br />. Assist, as requested by the City, with the investment of bond issue proceeds. <br /> <br />Investment Assistance: <br /> <br />Should the City desire to invest the proceeds from the issuance of the Debt issuance or any other funds of <br />the City through JM in its capacity as broker, JM shall, at all times, transact such investments as principal. <br /> <br />COMPENSA nON <br /> <br />For the proposed sale by the City in 2002 of its approximate $635,000 General Obligation Improvement <br />Bonds of2002 (the "Bonds"), JM's fee shall be lump sum of$8,750.00. The fee due to JM shall be <br />payable by the City upon the closing of the Bonds. <br /> <br />JM agrees to pay the fullowing expenses from its fee: <br /> <br />. The cost of distributing the Official statements, if any. <br />. Out-of-pocket expenses such as travel, long distance phone, and copy costs. <br />. Production and distribution of material to rating agencies and lor bond insurance <br />companies. <br />. Preparation of the bond transcript. <br /> <br />The City agrees to pay for all other expenses related to the processing of the bond issue including, <br />but not limited to, the following: <br /> <br />. Engineering and/or architectural fees. <br />. Publication oflegal notices <br />. Bond counsel and local attorney fees. <br />. The cost of printing Official Statements. <br /> <br />Page 2 <br />
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