HomeMy WebLinkAboutC2016-236 - 6/21/2016 - Approved TELEPHONE: TELEPHONE:
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June 3,2016
City of Corpus Christi,Texas
1201 Leopard
Corpus Christi,TX 78401
Re: Up to $85,000,000* City of Corpus Christi, Texas Utility System Revenue
Refunding Bonds,Series 2016
*******************************************************************************
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. 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 $85,000,000* City of Corpus Christi,
Texas Utility System Revenue Refunding Bonds,Series 2016.
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.
2016-236
6/21/16 o change.
M2016-069
Continued ...
M.E.Allison& Co.,Inc.
INDEXED
INVESTMENT BANKERS
June 3,2016
City of Corpus Christi,Texas
1201 Leopard
Re: Up to$85,000,000 City of Corpus Christi, Texas Utility System Revenue Refunding
Bonds,Series 2016
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 // /
l
Auth•rized Representative
ACCEPTED on behalf of the City of Corpus Christi, Texas the :�/ day of
4,�., �, ,2016.
ATTEST: Authorized
REBECCA HUERTA Official
CITY SECRETARY
Approved as to form:
*Preliminary,subjectqAUTHORIztt
to change. � r(�� �/
H T 1 o: By 1)4 uw`��
Assistant City Attorney
!Y MUNCH... .. ... For City Attorney
SECRFTAP 40
V V¢., Jc.
INVESTMENT BANKERS
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%.
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. 2016-65712
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 06/03/2016
being filed.
City of Corpus Christi,TX Date Ackowledged:,,A,i
..� : /RO\l� ''U
3 Provide the identification number used by the governmental entity or state agency to track or identify the contract,and provide a
description of the services,goods,or other property to be provided under the contract.
Corpus Christi 2016 UR-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. ❑
6 AFFIDAVIT I swear,or affirm,under penalty of perjury,that the above disclosure is true and correct.
�,�• PATRICIA A PARES
:......
E;; Way Public.Sfote of Texas
My Commission Expires
D•cemb•r 16, 2016 gnature of authorized agent ontracting business entity
AFFIX NOTARY STAMP/SEAL ABOVE
Sworn to and subscribed before me,by the said I ' 14 S1 4.SEA_ ,this the 34.t, day of , r F
20 1 ,to certify which,witness my hand and seal of office.
o �� �gTt,CA'ft i -• 132.1ZS 0(6is-+__ (r IAnAe.E P._
Signature of officer administering oath Printed name of officer administering oath Title of officer administering oath
it)7fc1 X71-`7
Forms provided by Texas Ethics Commission www.ethics.state.tx.us Version V1.0.1021