Loading...
HomeMy WebLinkAboutC2010-136 - 4/27/2010 - Approved7ELEPNpNE AREA CODE g10 p30•A000 ~ Spa., ~~. INVESTMENT BANKERS 95d ~~ ~~ ~~ ~sca~~ ~,~ ~a~ra ~varca, ~lsaca~ 78.109- 78.9 April 9, 2010 City of Carpus Christi, Texas 1201 Leopard Corpus Christi, TX 78441 Re: Approximately 55,500,0011" City of Corpus Christi, Texas Combination Tax and Surplus Airport Revenue Certificates of Qbligation, Taxable Series 2010 In regard to serving as the City's financial advisor and consultant, we submit the following proposal or agreement far your approval and acceptance. 1. Term. This Agreement shall be terminated by the delivery to the Purchaser of all the securities described above, whether delivered all at one time or in installments. It may be extended for an additional period by mutual agreement in writing. This agreement may be terminated at any time by either of us by giving thirty (30) days written notice to the other party. 2. Duties. The duties and responsibilities to be performed under this agreement include consulting and advising the City in the development and implementation of a financing plan for the issuance and sale of approximately $5,500,000 Combination Tax and Surplus Airport Revenue Certificates of Obligation, Taxable Series 2010. 3. Compensation. The fee will be based on the size of the issue, and computed an the attached schedule, Exhibit A. The fee will be due and payable from the proceeds of the Revenue and Refunding Sands. We would expect to be reimbursed far actual out-of- pocket expenses far telephone, photocopies, facsimile transmissions, printing, computer, if any, and travel incurred in connection with ratings, municipal bond insurance or Closing of such financing(s). 4. Suecial Conditions. In addition to the terms and obligations herein contained, this proposal and agreement is subject to the following special conditions: (a) M. E. Allison & Co., Inc. will incur and pay on behalf of the City the approved expenses in relation to the issuance of the Certificates and will submit said expenses for reimbursement at Closing. Approved expenses will include, but not be limited to, printing, shipping and posting of Official Statement, printing of Sands, and trove! expenses in relation thereto, Bond sale advertisements, municipal bond insurance premiums, Attorney General's fees, etc. M. E. Allison & Ca. zvio-1~6 MZ014-49 to ch Q4127J1D Continued ... T~LECOPIER AREA CdOE 210 Y3C•tGCI 1NDE~D ~G. C~. G~ ~ t4a,. ~~rc. ~ NVESTMENT BAkICEfiS Apri19, 2010 City of Corpus Christi, Texas 12~ 1 Leopard Re: Approximately $5,50a,00fl~ City of Corpus Christi, Texas Combination Tax and Surplus Airport Revenue Certificates of Obligation, Taxable Series 2010 Page 2 [b} The City will pay Bond Attorney, Rating Agency fees and Paying AgentlRegistrar directly or will direct M. E. Allison & Co., Inc, to pay these fees an behalf of the City from the cost of issuance proceeds subsequent to the closing of the bond transaction, [c} The City will at all times remain responsible far all foes incurred on behalf of the City in relation to the proposed hand issue. in the event the contemplated issue is not completed, the City will not awe the financial advisory fee to M. E. Allison & Co., Inc., but the City will remain responsible for al! expenses incurred by the Firm on behalf of the City as well as al{ direct expenses of the City including Bond Attorney and Rating Agency fees. S. This proposal is submitted in duplicate originals. When accepted by the City, it will constitute the entire agreement between the City and the undersigned for the purpose and considerations herein specified. Your acceptance will be indicated by proper signatures of your authorized officers or representatives on both copies and the returning of one executed copy to us. Respectfully submitted, M. E. ALLISON & CO., INC. By Au orize epresentative A~ EPTED on behalf of the City of Corpus Christi, Texas the ~ r day of 2010. T/iG..-~ A orized Official ity of Corpus Christi, Texas ATTEST: vtu~ ~ ~ ~ City Secretary 4tx-~_~ ~uao~o r~~~.~~~FlUtc~~L~ ~- c~r~~~ ~~ ~ I ~ o 4Ff!i7F7~tt•. Preliminary, subject to change. 1 INVESTMETlT BANKERS EXHIBIT A FINANCIAL ADVISURY FEE SCHEDULE GENERAL OBLIGATION SANDS And Not More than Mare than $ $ 25D,000 $7,500 plus $20.00 per $1,OD0 far all aver $150,000 25D,DD0 350,000 $9,500 plus $ l O.DD per $1,04D for ail over $254,044 350,ODD 500,404 $14,50D plus $8.04 per $1,000 for all over $35D,400 500,000 700,000 $11,700 plus $7.00 per $1,004 far all over $50D,ODD 70D,040 1,000,000 $13,100 plus $5.00 per $1,04D for all aver $700,OOD 1,OOD,000 1,SDD,000 $14,400 plus $5.00 per $1,000 for afl aver $1,000,000 1,500,OOD 5,000,000 $17,400 plus $3.04 per $1,000 for all over $1,500,000 5,004,OOD 10,000,OOD $27,900 plus $1.65 per $1,404 for Ali over $5,000,440 l0,ODD,D00 20,000,000 $36,150 plus $1.00 per $1,000 for all over $10,000,400 20,400,000 No Limit $46, l50 plus $0.85 per $1,000 for all over $20,QOO,DDD REVENUE BONDS AND COMBINATION TAX & REVENUE CERTIFICATES OF QBLIGATION In the event the Bonds to be issued are Revenue Bonds or Combination Tax and Revenue Certificates of obligation, Refunding or Lease Purchase, the fee shall be the amount computed from the above schedule, plus 25%.