Industrial Development Certificate of Resolutions Agreement to Issue Bonds

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" l;.. r--'.>o~.' e e BUTLER, BINION, RICE, COOK M KNAPP A PAR.TNER.SHIP INCLUDINC PR.OFESSIONAL COR.PORATfONS ATTORNEYS AT LAW ESPER.SON BUILDINCS 1747 PENNSYLVANIA AVENUE, N. W. WASHINCTON,D.C.20006 (202) 466 -6900 HOUSTON, TEXAS 77002 OF COUNSEL (713) 237-3111 LUIS J. CREEL, JR. MEXICO CITY TELEX 775532--TWX 8813CS28 CABLE: LERION October 13, 1982 Mr. Knox W. Askins Knox W. Askins, J.D., P.C. 702 W. Fairmont Parkway P. O. Box 1218 La Porte, Texas 77571 Dear Mr. Askins: I am writing to express the interest of this firm in representing prospective users of industrial development bonds in La Porte, Texas. We have an extensive practice in the industrial development bond area and are in the Daily Bond Buyer I s "Red Book", which list nationally recognized bond counsel. Our bond practice presently includes representation of both users and purchasers of industrial development bonds, and during the past year we have represented eleven different users of bonds. Because of our expertise in the bond area, we would propose to represent users from the preliminary planning stage of the financing (during which period we could assist in structuring the financing) through the closing. We would prefer to base our fees upon the actual number of hours worked on any transaction. We would, however, consider the following fee schedule: $5,000 for financings of $500,000 or less, $6,000 for financings of $l,OOO,OOO or less and $7,000 for financings of $l,OOO,OOO or less, such amount to increase by $1,000 for each additional $1,000,000 of bonds issued. For your information in considering the alternative of basing fees on hours worked, recent fees calculated on that basis averaged $ 5,700. The lawyer in this firm who has developed our bond practice and who would represent the users of bonds discussed in