HomeMy WebLinkAboutC2012-429 - 1/17/2012 - NATEGEaknxE
AREA CODE 210
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I NVESTMENT BANKERS
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January 17, 2012
City of Corpus Christi, Texas
1201 Leopard
Corpus Christi, TX 78401
Re: Approximately $7,500,000 City of Corpus Christi, Texas Public Property
Finance Contractual Obligations, Series 2012
In regard to serving as the City's financial advisor and consultant, we submit the
following proposal or agreement for your approval and acceptance.
1. Terra 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. `Phis
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 $7,500,000 Public Property
Finance Contractual Obligations, Series 2012,
3. Compensation 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 Contractual Obligations. 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 financing(s).
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 City the
approved expenses in relation to the issuance of the Bonds and will submit said
expenses for reimbursement at Closing. Approved expenses wilt include, but
not be limited to, printing, shipping and posting of Official Statement, printing
of Certificates, and travel expenses in relation thereto, Bond sale advertisements,
municipal bond insurance premiums, Attorney General's fees, etc.
(b) The City will pay Bond Attorney, Bating Agency fees and Paying
Agent/Registrar directly or will direct M. E. Allison & Co., Inc. to pay these
fees on behalf of the City froth the cost of issuance proceeds subsequent to the
closing of the bond transaction.
2012 -429
1117112
M. E. Allison & Co. Inc.
Continued ...
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AREA CODE 210
030- 001
INDEXED
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5D � I � I
INVESTMENT BA NKERS
January 17, 2012
City of Corpus Christi, Texas
1201 Leopard
Re: Approximately $7,500,000 City of Corpus Christi, Texas Public Property
Finance Contractual Obligations, Series 2412
Page 2
(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 for all
expenses incurred by the Firm on 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 both copies and the returning
of one executed copy to us.
Respectfully submitted,
M. E. ALLISON & CO., INC.
By
Author' ed Representative
ACCEPTED on behalf of the City of Corpus Christi, Texas the 17` day of
IanUary___ , 2012.
Authorized Official .
City of Carpus Christi, Texas
ATTEST:
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City Secretary
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INVESTMENT BANKrRS
EXHIBIT A
FINANCIAL ADVISORY FEE SCHEDULE
GENERAL OBLIGATION BONDS
And Not
More than More than
$ $ 250,000
250,000 350,000
350,000
500,000
700,000
1,000,000
1,500,040
5,000,040
10,000,000
20,000,000
500,000
700,000
1,000,000
1,500,000
5,000,040
10,040,000
20,000,000
No Limit
$7,500 plus $20.00 per $1,000 for all over $150,000
$9,500 plus $10.00 per $1,000 for all over $250,000
$10,500 plus $8.00 per $1,000 for all over $350,000
$11,700 plus $7.00 per $1,000 for all over $500,000
$13,100 plus $6.00 per $1,400 for all over $700,000
$14,900 plus $5.00 per $1,000 for all over $1,000,000
$17,400 plus $3.00 per $1,000 for all over S 1,500,000
$27,900 plus $1.65 per $1,000 for all over $5,004,000
$36,150 plus $1.00 per $1,000 for all over $10,000,000
$46,150 plus $0.85 per $1,000 for al l over $20,000,000
REVENUE BONDS 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, Direct Pay Subsidy or Lease Purchase Obligations, the fee
shall be the amount computed from the above schedule, plus 25%.