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2013-01-15_HRA_Agenda_Packet
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2013-01-15_HRA_Agenda_Packet
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Last modified
7/19/2013 3:21:07 PM
Creation date
2/21/2013 11:00:14 AM
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Commission/Committee
Commission/Authority Name
Housing Redevelopment Authority
Commission/Committee - Document Type
Agenda/Packet
Commission/Committee - Meeting Date
1/15/2013
Commission/Committee - Meeting Type
Regular
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(v)the sufficiency of assets available to pay for the services. <br />The fee must not be based primarily on a percentage of the amount of bonds or <br />obligations sold.” <br />Thus,our fees are subject to determination in light of the criteria of Section 481.21 as the <br />actual bond structures are determined. However, we generally determine our hourly rates based <br />on the criteria of Section 481.21. <br />We performbond counsel services for the Authority at an hourly rate of $305for attorneys <br />and $130for paralegals. We would bill the Authority for services after delivery of the bonds to the <br />purchasers. If the bonds were not successfully delivered for any reason, we would bill only <br />expenses. On revenue bonds(which would be the most typical bonds issued by the Authority), we <br />normally negotiate a total fee amount with the issuer (and borrower, in the case of conduit bonds). <br />We also bill the issuer for actual and necessary expenses which, on routine issues, seldom exceed <br />$200. <br /> <br />
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