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79-082
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79-082
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1/3/2012 12:33:54 PM
Creation date
6/26/2003 10:46:50 AM
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City Clerk
Doc Type
Resolution
Doc #
79-82
Date
6/4/1979
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o <br /> <br />Take such other steps as appear advisable to encourage strong competi- <br />tive bidding for the bonds. <br /> <br />10. During the entire course of employment hereunder, Consultant shall be <br /> available at reasonable times for consultation and advice relating to the <br />financial aspects of the contemplated improvement program. <br /> <br />11. Assist and coordinate with City's staff and affected departments, in- <br /> cluding data processing, in formulating procedures and in the preparation <br />of a manual describing such procedures to be followed in administering assess- <br />ments and servicing assessment bonds. <br /> <br />Payment for Services: <br /> <br />12. <br /> <br />For the services to be rendered hereunder City agrees to pay Consultant <br />the following fees at the times and subject to the conditions specified: <br /> <br />a. For each sale of bonds, a sum equal to one and one-half <br /> percent (1½%) of the first $1,000,000 of the acquisition and <br />construction costs, plus one percent (1%) of the second $1,000,000 <br />of acquisition and construction costs and one-half percent (½%) of <br />the balance of the acquisition and construction costs over $2,000,000. <br /> <br />b. It is agreed and understood that the acquisition and construc- <br /> tion costs referred to in Paragraph 12a, above, shall be as <br />defined in the final engineer's report. <br /> <br />c. Fees becoming due under Paragraph 12a, above, are payable <br /> only upon, and subject to, receipt by City of the proceeds <br />from sale of securities. <br /> <br />Other Considerations: <br /> <br />13. Consultant is employed hereunder to render a professional service within <br /> the scope of its training and experience as a municipal financing consult- <br />ant and any payments made to it are compensation solely for such service and <br />advice. Outside of its normal office overhead and traveling costs to and from <br />its San Francisco and Los Angeles offices and City to perform the serv- <br />ices contracted for, Consultant is not responsible for and shall not be held <br />liable for any other expense or expenditure of any kind, including the follow- <br />ing: <br /> <br />Any and all legal or engineering expense of any kind what- <br />ever. <br /> <br />bo <br /> <br />Any and all expense in connection with hearings, proceed- <br />ings and due issuance of bonds. <br /> <br />c. Any printing, advertising, publicity, etc., of such material <br /> or data as City may wish to have prepared in connec- <br />tion with Consultant's services herein provided for, except those <br />specifically excluded herein. <br /> <br />14. Nothing herein contained shall prevent Consultant from carrying on <br /> its usual business activities, including the performance of other <br />additional services for City, should it so desire such additional serv- <br />ices, nor from performing similar services for other cities, districts or pub- <br />lic entitles. <br /> <br /> <br />
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