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City Council <br />City of Pleasanton <br />July 19, 1988 <br />Page 2 <br /> <br /> printed and mailed, together with copies of the official <br /> notice of sale and basic legal documents, to a <br /> comprehensive list of prospective bidders. <br /> <br />4. Stone & Youngberg will represent the City at the bid <br /> opening for a public sale and will analyze the bids, <br /> identify the most favorable bid for the City, and make a <br /> recommendation as to award of the bid. We will act as the <br /> City's agent if bid negotiations are required. After the <br /> bid is awarded, we will prepare for the City an actual debt <br /> service table based on accepted interest rates. <br /> <br />COMPENSATION <br /> <br /> Stone & Youngberg is prepared to begin work at once on <br />behalf of the City based on a compensation schedule which would <br />be due and payable only upon the successful closing of the <br />financing. <br /> <br /> It is understood that the contingent fee for the Series B <br />Bond issue will be twenty-five thousand dollars ($25,000). <br />This amount will include all compensation due except those <br />amounts set forth in the following paragraph. <br /> <br /> In addition to the above compensation schedule, Stone & <br />Youngberg will be reimbursed by the City for any printing <br />expenses for the securities and Official Statements, any <br />mailing and shipping costs associated with the Official <br />Statements incurred on behalf of the City, Appraisal fees, the <br />California Debt Advisory fee, and any miscellaneous fees or <br />charges incurred in the process of structuring the financing <br />bringing it to a public sale. Such charges will be the <br />responsibility of the City and will not be contingent upon the <br />sale and delivery of the bonds. Any other expenses incurred by <br />Stone & Youngberg in their capacity of financial advisor to the <br />City shall be paid by Stone & Youngberg. <br /> <br />STONE & YOUNGBERG ALLOWED TO BID SECURITIES <br /> <br /> It is expressly understood and agreed between the City and <br />Stone & Youngberg, that Stone & Youngberg may submit a bid to <br />purchase all of the City's securities sold through a <br />competitive public sale. <br /> <br />CONCLUSION <br /> <br /> Stone & Youngberg appreciates the opportunity to serve as <br />financial adviser for the City. As a representative of Stone & <br />Youngberg, I look forward to working with you in meeting your <br />financing objectives. <br /> <br /> <br />