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STONE & YOUNGBERG <br /> MEMBERS: PACIFIC STOCK EXCHANGE <br /> <br /> June 3, 1986 <br /> <br /> City Council <br /> City of Pleasanton <br /> City Hall <br /> P.O. Box 520 <br /> P1 easanton, Cal i forni a 94566-0802 <br /> <br /> Re: Underwriters Agreement for <br /> Val 1 ey Avenue Extensi on <br /> Assessment Di strict 1986-1 <br /> <br /> Dear Council Members: <br /> <br /> This letter will serve as an agreement between the City of Pleasanton <br /> {"the City") and Stone & Youngberg ("the Underwriter") to serve as Underwriter <br /> to the City until the parties enter into an actual Purchase Contract regarding <br /> the negotiated sale of improvement bonds in an amount estimated at <br /> approximately $4,000,000 for the above-named project to be issued by the City <br /> pursuant to the Improvement Bond Act of 1915 ("the "Bonds" ). <br /> <br /> You have informed us that the City intends to issue the Bonds to provide <br /> funds for financing the construction of various public improvements and for <br /> this purpose requires the services of the Underwriter to render advice as to <br /> the structure of the financing and to enter into a Purchase Contract that is <br /> agreeable to both parties. <br /> <br /> As Underwriter, we will use our best efforts to bring the Bonds to market <br /> at reasonable rates under then existing conditions. The Underwriter agrees to <br /> undertake the below listed services and functions. <br /> <br />A. Structurin9 the Financin9 <br /> <br /> 1. The Underwriter will work with the City to create the most feasible <br /> and efficient structure and marketing of the Bonds. <br /> <br /> 2. The Underwriter W_ill work with the City's bond counsel and any <br /> special consultants in recommending specific terms and conditions <br /> affecting the Bonds. <br /> <br /> 3. The Underwriter will prepare an offering memorandum (preliminary and <br /> final versions,-respectively) for sale of the Bonds. Although it <br /> will be the responsibility of the Underwriter to prepare the <br /> <br /> ONE CALIFORNIA STREET · SAN FRANCISCO, CALIFORNIA 94111 · (415) 981-1314 <br /> <br /> <br />