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Home My WebLink AboutC2016-194 - 2/16/2016 - Approved • TfLf.NONt TaLt.NONE- 210-130.4000 3e1411-1131 210.130-4001 VV set•eet•e22o W• affal INVESTMENT BANKERS exy .... sas.2411vide traria yet a.,aeue• ,�..•.i wiac Avr February 16,2016 City of Corpus Christi,Texas 1201 Leopard Corpus Christi,TX 78401 Re: Up to S18,140,037* City of Corpus Christi, Texas Combination Tax and Limited Pledge Revenue Certificates of Obligation,Series 2016A tiiitiitititittitblit.6emsiitttittttttbuntittttttttttttttitttii0144.4iititii 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. Tom. 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. puttee. 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$18,140,037' City of Corpus Christi, Texas Combination Tax and Limited Pledge Revenue Certificates of Obligation, Series 2016A. 3. raggEggigg. The fee will be based on the size of the issue,and computed on the attached schedule,Exhibit A. The he will be due end 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 Condition. 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 Bands 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. Preliminary,subject to change. 2016-194 Continued ... 2/16/16 M2016-021 M. E.Allison & Co. Inc. INDEXED W.. . INVESTMENT BANKER! February 16,2016 City of Corpus Christi,Texas 1201 Leopard Re: Up to 518,140,037* City of Corpus Christi, Texas Combination Tax and Limited Pledge Revenue Certificates of Obligation,Series 2016A 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 r/0 / Aut . 'zed Representative ACCEPTED on behalf of the City of Corpus Christi, Texas the day of ,2016. Authorized Official Apprrvtii as to torn 'Preliminary,subject to change j- �n Li93 `all a AU IHUKi«. �':��irtt City Attorney l\ r Attorney :Y COU 4CII.._...... �• AAT ST REBECCA HUERTA '•� CITY SECRETARY SECRET R 11111 INVtSTMtNT BANlICRS EXHIBIT A FINANCIAL ADVISORY FEE SCHEDULE GENERAL OBLIGATION BONDS And Not ItIsEelbaa Magill S S 250,000 $7,500 plus$20.00 per$1,000 for all over 5150,000 250,000 350,000 $9,500 plus S10.00 per S1,000 for all over S250,000 350,000 500,000 $10,500 plus$8.00 per$1,000 for all over$350,000 500,000 700,000 511,700 plus$7.00 per 51,000 fbr all over$500,000 700,000 1,000,000 $13,100 plus$6.00 per S1,000 for all over$700,000 1,000,000 1,500,000 S14,900 plus 55.00 per 51,000 for all over$1,000,000 1400,000 5,000,000 S17,400 plus$3.00 per$1,000 for all over S1,500,000 5,000,000 10,000,000 S27,900 plus$1.65 per$1,000 for all over$5,000,000 10,000,000 20,000,000 $36,150 plus SLIM per S1,000 for all over S10,000,000 20,000,000 No Limit S46,150 plus$0.85 per S1,000 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 aro Revenue Bonds or Combination Tax and Revenue Certificates of Obligation, Reticnding 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%. • CERTIFICATE OF INTERESTED PARTIES FORM 1295 1 of 1 Complete Nos.1-4 and 6 if there are interested parties. OFFICE USE ONLY Complete Nos.1,2,3,5,and 6 if there are no interested parties. CERTIFICATION OF FILING 1 Name of business entity filing form,and the city,state and country of the business entity's place Certificate Number: of business. 2016-53583 M. E.Allison&Co., Inc. San Antonio,TX United States Date Filed: 2 Name of governmental entity or state agency that is a party to the contract for which the form is 05/11/2016 being filed. City of Corpus Christi,TX Date Ackn wledged: VH2-\1 3 Provide the identification number used by the governmental entity or state agency to track or identify the c ntrac,and provide a description of the services,goods,or other property to be provided under the contract. Corpus Christi 2016 CO-FA Financial Advisory Services Nature of interest 4 Name of Interested Party City,State,Country(place of business) (check applicable) Controlling I Intermediary Seal,Mark San Antonio,TX United States X Allison, Christopher San Antonio,TX United States X Allison Jr.,Al San Antonio,TX United States X 5 Check only if there is NO Interested Party. o 6 AFFIDAVIT I swear,or affirm,under penalty of perjury,that the above disclosure is true and correct. PATRICIA A PARKS / / Notary Public,Stot•of Tixos My Commission Expires V, Decomb.f 14. 2014 S.: ature of authorized agent of contracting business entity AFFIX NOTARY STAMP/SEAL ABOVE M n/� Sworn to and subscribed before me,by the said 1 ' LARI( ,this the I day of ,,`Ffc 20 14:, ,to certify which,witness my hand and seal of office. —semJLL C i T 61:: 41a-42.S C1"51':ct— rn r4n A .17 name of officer administering oath Title of officer administering oath Signature of offministering oath Printed n c 7‘1 4 7 Version V1.0.1021 Forms provided by Texas Ethics Commission www.ethics.state.tx.us