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<br /> <br />• <br />L <br />(2) On all new issues or refunding of optional bands, <br />o <br />the City mill pay me a cash fee f three per cent <br />(3yb) of the first $50,00 of bonds; two parr cent <br />(2~) of the next $200,000 of bonds; and one and one- <br />half per cent {1-1/2~) of the principal amount of <br />bvnd,s over $250,000; these fees to apply to each <br />separate issue of bonds. <br />(3) A cash arurual retainer fee of Ten Dollars 010.00) <br />per year, this fee to be paid out of current income <br />each yeax. <br />The fees listed above are to be payable only when a refunding <br />• has been completed; or, in the case of new borrowings, where bonds have <br />been issued, delivered and paid for. <br />It is agreed and understood that should the City far any reason <br />be unable to make final delivery an any issue of Bonds or Warrants, ox to <br />complete any refunding, then the City shall not be obligated to me far any <br />fee, and az~y expenses which I will have incurred shall accrue solely to me. <br />This contract shall remain in full force and effect for a period <br />of five (5) years Pram its dote; or, should any issue of any kind then can- <br />templated be in the process of being completed, then this contrast shall <br />e~etend beyond the Pive years until all transactions have beef oompleted, <br />~, <br />Re tted, <br />~2~/.G~ <br />L, BfP6wn, Jr. <br />ACCEPTED by vote of the City Council aP the City of La Farts, <br />Taxae, this the day of 195. <br />mayor <br />City of La Porte, Texas <br />ATTEST: <br />City Clerk <br />