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Sale of Securities <br /> <br /> To implement the sale of City's securities by competitive bid or through negotiaition, <br />Consultant will provide the following financial advisory services: <br /> <br /> o recommend specific structural and security features of the issue which will produce the <br /> best possible credit rating consistent with the City's resources to service the debt; <br /> <br /> o assist the City Attorney and bond counsel in the preparation of required legal documents; <br /> <br /> o prepare the text of Preliminary and Final Official Statements for distribution to purchasers <br /> of the securities; <br /> <br /> o assist the City in obtaining, evaluating and final selection of underwriter(s) proposals for <br /> underwriting services; <br /> <br /> o assist the City in the development of comprehensive information materials for direct <br /> presentation to credit rating agencies, bond insurers, or letter of credit banks; <br /> <br /> o evaulate the cost effectiveness of obtaining bond insurance or other types of credit <br /> enhancements versus issuance of the securities without credit enhancement; <br /> <br /> o vedfy the accuracy of bids tendered at .a public sale, calculate net interest costs, and <br /> recommend award or rejection of bids. <br /> <br /> o assist the City in negotiating the sale of securities to underwriters. Advise the City <br /> regarding specific provisions of the underwriter's Purchase Contract including proposed <br /> underwdter's discount, interest rates, maturity schedule and redemption features, costs of <br /> issuance and other expenses proposed to be borne by the City, and terms for the City's <br /> delivery of securities and receipt of proceeds. <br /> <br /> o coordinate delivery of the securities and the receipt of proceeds with the City, purchaser(s) <br /> of the securities, bond counsel, underwriter's counsel (negotiated sale), bank trustee and <br /> credit enhancer, if any. <br /> <br />Consultant's Compensation <br /> <br /> A. For Financing Planning Services outlined above, Consultant will be paid a fee at the rate <br />of $125 per hour with the total fee not to exceed $10,000 without prior authorization by the City. <br />Consultant's fee will be payable within thirty days of monthly billings submitted by the Consultant <br />with a written statement of activities completed during the month. <br /> <br /> Consultant will be reimbursed for the cost of reproducing and binding a suitable number <br />of copies of the Recommended Financing Plan desired by the City. <br /> <br /> B. At this time, it cannot be determined whether securities will be issued by the City, or <br />other public entity on behalf of the City, to finance any of the City's CIP Projects. In the event <br /> <br /> -4- <br /> <br /> <br />