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Home My WebLink AboutC2014-320 - 6/17/2014 - Approved TELEPHONE TELEPHONE: FAX FAX 210-930-4000 361 -861-11 31 210-930-4001 e.��'li �!_i'��GriL6lAmr Gr Vri.� �'12d. 361 -861-9220 INVESTMENT BANKERS 950 ppade M BGnA/r..492 ,...1,. � . J z 4.VLC Jwud1.% ct6/,5 /70/ �ea zi 78209/8.f/ 7r fie ' ✓ice 7801,3707 December 1,2014 City of Corpus Christi,Texas 1201 Leopard Corpus Christi,TX 78401 Re: Up to $155,000,000 City of Corpus Christi, Texas Utility System Junior Lien Revenue Improvement Bonds, Series 2015A and Up to $155,000,000 Variable Rate Junior Lien Revenue Improvement Bonds, Series 2015B (Mary Rhodes Pipeline,Phase II Projects) ******************************************************************************* In regard to serving as the City's financial advisor and consultant, we submit the following proposal or agreement for your approval and acceptance. I. 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 up to $155,000,000* City of Corpus Christi, Texas Utility System Junior Lien Revenue Improvement Bonds, Series 2015A and up to $155,000,000 Variable Rate Junior Lien Revenue Improvement Bonds, Series 2015B (Mary Rhodes Pipeline, Phase II Projects). 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 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 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 will include, but not 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. 2014-320 6/17/14 ;hange. Continued ... M2014-078 M.E.Allison & Co., Inc. INDEXED ra., � . INVESTMENT BANKERS December 1,2014 City of Corpus Christi,Texas 1201 Leopard Re: Up to $155,000,000 City of Corpus Christi, Texas Utility System Junior Lien Revenue Improvement Bonds, Series 2015A and Up to $155,000,000 Taxable Junior Lien Revenue Improvement Bonds, Series 2015B (Mary Rhodes Pipeline, Phase II Projects) Page 2 (b) The City will pay Bond Attorney, Rating Agency fees and Paying Agent/Registrar directly or will direct M. E. Allison & Co., Inc. to pay these 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 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 dr' Autho zed Representative UP D on behalf of the City of Corpus Chri •- day of �UP el,M '12.. ,2014. Auth -0Tal ATTEST: IMUS u' PIC° 64` .11 City Secretary � 1 OOOOOOO IPS rr.RCTAQY *Preliminary,subject to change. TELEPHONE: TELEPHONE 210-930-4000 ( 361 -861-1131 FAX FAX 210-930-4001 W, „L. 361 -881-9220 INVESTMENT BANKERS iso &IV Ma eGnAC Y',� 7920.9faf> W . 7840/J7O7 EXHIBIT A FINANCIAL ADVISORY FEE SCHEDULE GENERAL OBLIGATION BONDS And Not More than More than $ $ 250,000 $7,500 plus$20.00 per$1,000 for all over$150,000 250,000 350,000 $9,500 plus$10.00 per$1,000 for all over$250,000 350,000 500,000 $10,500 plus$8.00 per$1,000 for all over$350,000 500,000 700,000 $11,700 plus$7.00 per$1,000 for all over$500,000 700,000 1,000,000 $13,100 plus$6.00 per$1,000 for all over$700,000 1,000,000 1,500,000 $14,900 plus$5.00 per$1,000 for all over$1,000,000 1,500,000 5,000,000 $17,400 plus$3.00 per$1,000 for all over$1,500,000 5,000,000 10,000,000 $27,900 plus$1.65 per$1,000 for all over$5,000,000 10,000,000 20,000,000 $36,150 plus$1.00 per$1,000 for all over$10,000,000 20,000,000 No Limit $46,150 plus$0.85 per$1,000 for all over$20,000,000 REVENUE BONDS, COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, REFUNDING BONDS, OBLIGATIONS USING A REVENUE SOURCE AS REPAYMENT, DIRECT SUBSIDY OBLIGATIONS OR LEASE PURCHASE In the event the Bonds to be issued are Revenue Bonds or Combination Tax and Revenue Certificates of Obligation, Refunding Bonds, Obligations using a revenue source as repayment, Direct Subsidy Obligations or Lease Purchase,the fee shall be the amount computed from the above schedule,plus 25%.