RES 81123 - Laserfiche WebLink

(b) The legal fee shall be an amount equal to three percent (3%) of that portion of project cost not exceeding $1 million, plus two percent (2%) of that portion of project cost exceeding $1 million but not exceeding $2 million, plus one percent (1%) of that portion of project cost exceeding $2 million. The fee shall not be less than $1,500. (c) Costs shall be reimbursed to Bond Counsel as follows: 1) The cost of trahsportation. 2) The cost Of preparing auditor's record, if required: 7 cents per assessment for each year of the bond issue, with a minimum of $30.00. 3) The cost of long distance telephone calls: at billed cost. 4) The cost of photocopying: 10 cents per sheet. The cost of other services for which Bond Counsel makes arrangements under this agreement (such as bond printing costs) shall be billed to the City and shall be paid by City directly to the payee. (d) Payment by City of the legal fee is contingent upon the levy of assessments and the sale and delivery of improvement bonds representing unpaid assessments in the assessment district. If for any reason, assessments are not confirmed and bonds delivered, Bond Counsel shall be paid no legal fee. Both the legal fee and costs are payable upon delivery of the bonds. 4. Bond Counsel certifies'tha't it has no interest, either direct or contingent, in any property or contract arising from or affected bL~ the assessment district, except as Bond Co~nsel under this agreement. Bond Counsel does not represent any owner of property within the proposed boundaries of this assessment district, and has not received a fee from any source for services connected with the project. Dated: April 28, 1981. -3-