Laserfiche WebLink
engineer's report as finally approved under Section <br /> 10312 of the Streets and Highways Code. <br /> <br />(b) The legal fee shall be an amount equal to two and <br /> one-half percent (2-1/~%) of that portion of the <br /> amount assessed not exceeding $1 million, plus one <br /> percent (1%) of that portion of the amount assessed <br /> exceeding $1 million, but not to exceed <br /> $10,000,000.00r plus one-half percent (1/2%) of that <br /> portion of the amount assessed exceeding <br /> $10,000,000.00, but not to exceed $20,000,000.00, <br /> plus one-quarter percent (1/4%) of that portion of <br /> the amount assessed exceeding $20,000,000.00. If <br /> improvement bonds are issued in more than one series, <br /> Bond Counsel shall receive a fee of $15,000.00 for <br /> each issue after the first, in addition to the <br /> percentage fee state~q above. <br /> <br />(c) Costs shall be reimbursed to Bond Counsel as follows: <br /> <br /> 1) The cost of transportation, meals and <br /> lodging. <br /> <br /> 2) The cost of preparing auditor's record, if <br /> required: 7 cents per assessment for each year <br /> of the bond issue, with a minimum of $30.00. <br /> <br /> 3) The cost of long distance telephone calls: at <br /> billed cost. <br /> <br /> 4) The cost of photocopying: 10 cents per sheet. <br /> <br /> The cost of other services for which Bond Counsel makes <br /> arrangements under this agreement (such as bond printing <br /> costs) shall be billed to the Client and shall be paid by <br /> Client directlv to the payee. <br /> <br />(d) Payment of Bond Counsel's compensation hereunder <br /> shall be made to Bond Counsel at the time of delivery. <br /> to the purchaser of the bonds to be issued and sold <br /> in the assessment proceedings or as soon thereafter <br /> as practicable. It is understood that bonds issued <br /> in connection with this agreement may consist of more <br /> than one issue; therefore, the compensation <br /> calculated in accordance with Paragraph 3(b) shall be <br /> calculated on the basi~ of the cumulative total of <br /> bonds issued, less compensation previously paid to <br /> Bond Counsel pursuant to this agreement. It is <br /> understood and agreed that Bond Counsel's <br /> compensation for all services rendered-pursuant to <br /> this agreement shall be paid solely from the proceeds <br /> of the assessments to be levied and bonds issued and <br /> sold pursuant to said assessment proceedings, and <br /> that City shall not be obligated otherwise therefor. <br /> <br /> <br />