10-01-03 La Porte Redevelopment Authority Meeting minutes

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~ 'JaBUarY 4, 2004 Page 3 liquidity facilities or enhancements or other special structuring techniques or devices to be employed in connection with the issuance of any series of the Bonds; and (6) After the closing of any series of the Bonds and upon specific request of the appropriate Authority officials and staff, providing assistance to the Authority concerning questions and issues that may arise prior to the maturity of each series of Bonds. For the Basic Service performed as Bond Counsel, our fee for a fixed rate transaction would be according to the following schedules, with such fee payable from bond proceeds and contingent upon the actual delivery ofthe Bonds: First Issue* A. For the first $15 million in principal of Bonds, an amount not to exceed $65,000, to be billed at standard hourly rates; B. an amount equal to 2% of the principal amount of such Bonds above such first $15,000,000 in principal. * The fee for a variable rate transaction would be the same as the foregoing, plus our standard hourly rates at a 10% discount for amounts in excess of the foregoing fees. Subsequent Issues: To be agreed to prior to the issuance of such Bonds depending on the size and complexity of the transaction. As Bond Counsel, AK will also be reimbursed for its reasonable and actual out-of-pocket expenses, such as the cost of reproduction of documents, out-of-town travel, long-distance telephone, telegraph, telex and similar expenses, deliveries, filing fees and all items paid for by AK on behalf of the Zone or the Authority and incurred in connection with the performance of all services hereunder. AK will provide invoices for legal services and out-of-pocket expenses hereunder. Payment of all fees and expenses as Bond Counsel will be made upon the issuance and delivery of the series of the Bonds in connection with which such services are performed. The fee and expenses for each series will be paid from the proceeds of the sale of such series or from other funds, as the Authority deems appropriate. The fee for any Additional Services provided by AK will be determined on an hourly rate basis, applying rates then charged by AK for the same or similar services performed by attorneys and paralegals of similar experience for other clients. As we have discussed, you are aware that AK represents many other governmental entities, companies and individuals. It is possible that during the time that we are representing you, some of our present or future clients will have disputes or transactions with you. In particular, as we have advised you, we represent the Port of Houston Authority of Harris County, HOU:2229311.4