HomeMy WebLinkAboutC2010-142 - 5/11/2010 - Approvedr
TELEPHONE
AREA CDOE rlo
li30-4404
S~ Spa., ~~.
iNVE$TMEAIT BANKERS
Jcrnt ~xtoticca, Ju~a¢ 78.109- 9~.~9
Apri14, 2010
City of Corpus Christi, Texas
1201 Leopard
Carpus Christi, TX 78401
Re: Approximately $3,D00,00[I" City of Corpus Christi, Texas Combination Tax
and Limited Pledge Revenue Certificates of Obligation, Series ZO10
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. Dut'ses. 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 ^f approximately $3,000,000' Combination Tax
and Limited Pledge Revenue Certificates of Obligation, Series 2010.
3. Cnmpensatson. The fee will be based on the size of the issue, and computed on
the attached schedule, Exhibit A. The fee will be due and payable from the proceeds of
the Revenue and Refunding Bonds. We would expect to be reimbursed for actual out-of-
pocket expenses for telephone, photocopies, facsimile transmissions, printing, computer,
if any, and travel incurred in connection with ratings, municipal bond insurance or
Closing of such financings}.
4. Special 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 Ciry the
approved expenses in relation to the issuance of the Certificates and will submit
said expenses far reimbursement at Closing. Approved expenses will include,
but oat be limited to, printing, shipping and posting of Official Statement,
printing of Bonds, and travel expenses in relation thereto, Bond sale
advertisements, municipal bond insurance premiums, Attorney General's fees,
etc.
(b} The Ciry will pay Bond Attorney, Rating Agency fees and Paying
AgentlRegistrar directly or will direct M. E. Allison & Co., Inc. to pay these
2U10-1a2
M2010-1D6b change.
OSI111i0
M. E. AlI1S4I1 & CO.
Continued ...
TELECOPIER
AREA CEDE 2 t4
930•i0O 1
INDEXED
INVESTMENT BANFCERS
Apri19, 2b10
City of Carpus Christi, Texas
12a 1 Leopard
Re: Approximately $3,[}b0,dbb' City of Corpus Christi, Texas Combination Tax
and LimitQd Pledge Revenue Certificates of Uhligation, Series ZbIQ
Page 2
fees on 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 for all fees incurred on
behalf of the City in relation to the proposed bond issue. In the event the
contemplated issue is not completed, the City will not owe the financial advisory
fee to M. E. Allison & Co., Inc., but the City will remain responsible far all
expenses incurred by the Firm an behalf of the City as well as all direct
expenses of the City including Bond Attorney and Rating Agency fees.
5. 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 bath copies and the returning
of one executed copy to us.
Respectfully submitted,
M. E. ALLISON & CD., INC.
By
Au arixe Representative
ACCEPTED on behalf of the City of Corpus Christi, Texas the ~'~ day of
201b. ~
Au r' ed Official
C' of Corpus Christi, Texas
ATTEST:
City Secretary
~ ~ .~ 1 ~~ ~~rrwr:ltl~l~
~ ~aalvc~~ ~~1 ~~ D ..
~~ ~
Preliminary, subject to change.
INVESTMENT BANKERS
E~HISIT A
FINANCIAL ADVISURY FEE SCHEDllLE
GENERAL OBLIGATION BONDS
And Nat
More than More fhan
$ $ 25D,000
254,000 35D,000
350,000 500,000
500,000 70D,000
70D,000 1,ODU,000
1,D40,400 1,500,000
1,50D,000 S,ODD,000
s,ooo,DDD 1 o,D00,D4o
10,000,000 20,040,400
20,000,000 No Limit
$7,500 plus $20.00 per $1,440 for all over $150,000
$9,500 plus $1 D.D4 per $1,000 for all over $250,OD0
$10,500 plus $$.00 per $1,04D for all aver $350,000
$11,700 plus $7.04 per $1,000 for all over $500,000
$13,140 plus $6.00 per $1,000 for ali over $700,000
$14,90D plus $5.40 per $1,040 for all aver $1,000,000
$17,400 plus $3.04 per $1,000 for all over $1,500,DD0
$27,900 plus $1.65 per $1,000 for all over $5,000,000
$36,154 plus $1.04 per $1,000 far ail over $10,000,000
$46,150 plus $0.85 per $1,0[]0 for all over $20,000,000
REVENUE BLINDS AND COMBINATION TAX & REVENUE CERTIFICATES OF
OBLIGATION
In the event the Bonds to be issued are Revenue Bonds or Combination Tax and Revenue
Certificates of Obligation, Refunding ar Lease Purchase, the fee shall be the amount computed
from the above schedule, plus 25°/0.