O-1997-2211 - Laserfiche WebLink

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Honorable Mayor and Ci1i...Council City of La Porte . La Porte, Texas ~~V Gentlemen: We agree to perform Financial Advisory Services for the City and in such capacity will provide the following services: 1. Advise with the City Council, Administration and any official committee to establish future requirements so that additional funds borrowed can be arranged to fit into an overall long range program. 2. Prepare projections of bond sales, assessed valuations and resultant estimated tax rates. In the case of Water & Sewer Revenue Bonds, we will prepare projections of required net revenues sufficient to amortize required debt and meet the necessary reserves and coverage requirements. Also we include cash flow projections of investment earnings on bond proceeds during construction and year end fund balanc~s. 3. Coordinate with the City Council, Administration and bond counsel for the proper calling and notice of bond election and canvassing the results thereof. . 4. When the City Council and Administration detennine to issue bonds we prepare detailed information on each separate issue recommending maturity schedules, optional provisions, interest rate variations allowable, date and time of sale and other terms and conditions to be contained in the bonds. 5. Prepare drafts of the Official Notice of Sale and Official Statement containing complete and thorough financial information, demographic and economic data describing the City. These documents will be presented for approval by the City Council and Administration. The Official Statement always includes extensive, current aerial photographs of the City's principal commercial and industrial establishments, residential developments and City facilities. 6. With approval of the City Council, we will take the Mayor, City Manager and Assistant City Manager/Finance for rating conferences with Moody's Investors Service, Inc. and Standard & Poor's Rating Group. Approximately 7 to 10 days prior to the rating interviews, we will furnish the agencies drafts of the Official Statement and Official Notice of Sale together with audits and budgets and other financial data describing the City and the bonds being offered. 7. Publish the Official Notice of Sale in the appropriate financial journals. Printed Notices of Sale and Official Statements are then mailed to all investment bankers, banks, and other investment houses dealing in municipal bonds throughout the United States, 8. Make submissions to all the insurance consortiums that msure Municipal Bonds for qualifications of the bonds for insurance. 9. Disseminate the rating announcements to all prospective bidders through direct mail and . . Wire services. 10. As we act solely as the City's agent, most bids will be delivered to our offices on the date of sale prior to the evening City Council meeting. We will deliver the bids for opening and review at the appointed time and place.