RES 82267 - Laserfiche WebLink

(b) (c) (d) The "project cost" shall be deemed to include estimated construction cost, estimated or actual payment for the acquisition of existing improvements and real property, payments to other public agencies or utilities, capacity charges, and contingency amounts. The "project cost" shall be deemed to exclude engineering, legal, right-of-way and other consulting or professional fees, inspection fees, bond printing costs, allowance for selling improvement bonds at a discount, and any other incidental expenses of the project. The legal-fee shall be an amount equal to three percent (3%) of that portion of project cost not exceeding $1 million, plus two percent (2%) of that portion of project cost exceeding $1 million but not exceeding $2 million, plus one percent (1%) of that portion of project cost exceeding $2 million. The fee shall not be less than $1,500. Costs shall be reimbursed to Bond Counsel as follows: 1) The cost of transportation, meals and lodging. 2) The cost of preparing auditor's record, if required: 7 cents per assessment for each year of the bond issue, with a minimum of $30.00. ' 3) The cost of long distance telephone calls: at billed cost. 4) The cost of photocopying: 10 cents per sheet. The cost of other services for which Bond Counsel makes arrangements under this agreement (such as bond printing costs) shall be billed to the Client and shall be paid by Client directly to the payee. Payment by Client of the legal fee is contingent upon the levy of assessments and the sale and delivery of improvement bonds representing unpaid assessments in the assessment district. If for any reason, assessments are not confirmed and bonds delivered, Bond Counsel shall be paid no legal fee. Both the legal fee and costs are payable upon delivery of the bonds. 4. Bond Counsel certifies that it has no interest, 3