1979-12-05 Regular Meeting - Laserfiche WebLink

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• Page 2 of these bonds by the Attorney General, the registration by the Comptroller of Public Accounts and delivery to the purchaser at a bank in Austin, Texas. It is agreed and understood that all bonds be sold on competitive bids and that the undersigned, nor any of its associates, shall have any interest, directly or in- directly, in the sale of any bonds by the City, excepting the fees provided in this con- tract. When bonds are ready for sale then in those issues which total $500, 000 or more a printed prospectus shall be prepared and mailed to investment bankers in the United States dealing in municipal securities. This prospectus shall contain, in suffi- cient detail, terms and conditions under which bids will be taken, bid forms, complete financial statement and adequate general information on the City. If less than $500, 000 of bonds are to be offered for sale, then substantially this same information shall be prepared in xerographic form, or some similar method, and submitted to prospective bidders. For and in consideration of our services and as reimbursement for expenses which we will have paid on behalf of the City, the City agrees to pay us a cash fee on all new issues or refundings, this fee to be in the following amounts: (a) 3% of the first fifty thousand dollars ($50, 000) of Bonds; 2% of the next two hundred thousand dollars ($200, 000) of Bonds; 1-1/2% of the principal amount of Bonds over two hundred fifty thousand ($250, 000) (b) In addition thereto, the City agrees to pay us a cash retainer of five hundred dollars ($500. 00) per year, this retainer to be paid out of current funds and to • become due and payable on September 1 of each year.