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sendice which will produce the best possible credit rating attainable by the City; <br /> <br /> o indicate the procedural requirements to authorize and issue recommended short-term <br /> and/or long-term debt instruments; <br /> <br /> o estimate the impact of annual debt service requirements on City revenues, fees or other <br /> sources that are pledged to pay debt service. <br /> <br /> (5) Meet and confer with City Council, City staff and architect/engineering consulatnts to <br /> evaluate initial findings, conclusions and recommendations contained in the Preliminary <br /> Financing Plan Report. Develop such additional information as may be required to <br /> prepare the Recommended Financing Plan Report. <br /> <br /> (6) Complete the Recommended Financing Plan Report for presentation to the City Council. <br /> Appear at up to three meetings of City Council to discuss details of the Recommended <br /> Financing Plan and provide additional inputs as may be needed by City Council in its <br /> deliberations. <br /> <br />Securities Marketin.q Services <br /> <br /> The type and amount of tax-exempt securities, if any, that may be issued by the City to <br />finance CIP Projects cannot be determined at this time. <br /> <br /> In the event the issuance of such securities is required to finance all or a portion of the <br />City's CIP Projects, Consultant will assist the City in the sale of its securities by competitive sealed <br />bids or negotiation with underwriters. <br /> <br /> Selection of Method of Sale <br /> <br /> The City's objective is obtaining needed funds at the lowest possible borrowing cost <br />achievable under prevailing conditions in the tax- exempt bond market. <br /> <br /> Consultant's experience indicates this objective is achieved most often through the <br />competitive sale of securities on a sealed bid basis. Consultant recognizes however, some <br />circumstances may make it advisable for the City to sell its securities at a negotiated sale. <br />Accordingly, the method of sale of the City's securities will be evaluated on a case-by-case basis. <br />In this connection, Consultant will assist the City in evaluating the factors which have a major <br />bearing on the selection of securities sale alternatives, including, but not,limited to: <br /> <br /> o timing:.,~l the City's need for funds to complete CIP Projects as scheduled; <br /> <br /> o issue size, credit quality, rating and credit enhancements; <br /> <br /> o sensitivity of the issue to interest rate changes that may render CIP Projects infeasible; <br /> and, <br /> <br /> o volatile market conditions that require flexibility is structuring terms of the issue to match <br /> investors' preferences with the City's objective to incur the lowest borrowinng costs. <br /> <br /> -3- <br /> <br /> <br />