HomeMy WebLinkAboutRESOLUTIONS - 01011992 - 1992-421 RESOLUTION NO.
RESOLUTION APPROVING AGREEMENT
FOR FINANCIAL ADVISORY SERVICES
ASSESSMENT DISTRICT NO. 1992-1
MRACK ROAD IMPROVEMENTS CAMINO TASSAJARA AREA
The Board of Supervisors of the County of Contra Costa
resolves:
This Board approves that certain agreement between the
COUNTY OF CONTRA COSTA, and LIBERTY PUBLIC FINANCIAL ADVISORS
for financial consulting services for Assessment District No.
1992-1, Mrack Road Improvements Camino Tassajara 'Area, County of
Contra Costa, California, dated June 16, 1992, on file with the
Clerk of the Board of Supervisors.
The Chairman of the Board is authorized to 'sign the
agreement and the Clerk of the Board' is authorized to attest its
execution
I HEREBY 'CERTIFY that the ;foregoing resolution was duly-
and regularly adopted by the Board of Supervisors of the County
of Contra Costa, State of California', at the regular meeting
thereof, held on the 16th day of June, 1992.
ATTEST:
PHIL BATCHELOR,, Clerk of the
Board of Supervisors and
County' Administrator
By kal�
RESOLUTION NO. 92/421
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AGREEMENT FOR FINANCIAL ADVISORY SERVICES
ASSESSMENTDISTRICT NO. 1992-1 {MRACK ROAD IMPROVEMENTS}
This is an agreement for financial advisory services between
the COUNTY OF CONTRA COSTA, a political subdivision of the State of
California;, referred to as Client, and LIBERTY PUBLIC FINANCIAL
ADVISORS, Pleasanton, California, referred to as Financial Advisor.
1 . Client retains Financial Advisor as ';financing consultant
to perform the fallowing consulting services relating to Assessment::
District No. 1992-1 (Mrack Road Improvement's) , County of Contra
Costa, State of California .'
(a) present the potential alternatives in financing, the
proposed ';project
('b) conduct due; diligence by reviewing all existing
information regarding' outstanding debt, bond covenants,:
prior debt repayment', and appropriate ordinances or
resolutions, including the engineering, architectural,
planning, legal and financial 'info'rmation regarding the
project
(c) assist in the selection of other financing team members
as requested, including the trustee, printer, and
underwriter.
(d) recommend a reserve fund, capitalized interest, and costa
of issuance.
(e) recommend specific terms for the securities including
maturity schedules, call features, refunding protection,
and others.
(f) prepare a set of financing documents and prepare an
official' statement for use in the marketing of the bonds .
(g) recommend the timing of the marketing of the bond issue
based on the conditions in the market .'
(h) recommend to the issuer which method of sale should be
chosen to market the bonds.
(i); in' a competitive sale, prepare and distribute notice of
sale of bonds and official statement to prospective
bidders.
(7)' review bids and. recommend which ''bid from a qualified
bidder' produces the lowest net interest costs.
(k) or in a negotiated sale, recommend an ```underwriter (s) , and
supervise the underwriter (s) >' as bonds are being marketed,
getting information as to actual method of sales.
(1) review recent and comparable market interest' rates and
recommend whether interest rates and other terms ;in the
final bond 'purchase' contract are competitive.
(m)` and in either type of sale, aid in the closing
preparations and attend< the 'closing.
,;,
2 . The services of Financial Advisor under this
agreement shall not include the following;
(a): Underwriting the bond issue.
3. In consideration of the services: set forth in
paragraph 1, Client shall pay to Financial Advisor the following
fees and costs•
(a)" The fee of 'Financial Advisor shall be a fixed fee as set
forth in the engineer' s ;report as finally' approved under
Section 10312 of the Streets and Highways Code.
(b) The fee of ''Financial Advisor shall be the amount of;
1)' $10, 000 .00' if the assessments are confirmed at
$1 .00 to 999, 999 . 99, or
2) $15, 000 .00' if the assessments are confirmed at
$1, 000, 000 . 00 to 1, 999, 999. 99, or
3)' $20, OOO.00 if the assessments are confirmed at
$2, 000, 000.00 to 2, 999, 999.99, or
4) ' $30, 000 .00 if the assessments are confirmed at
$3.. 0001000.00 to 3 999,!,999.>>99, or
5) $40,000.00 if the assessments are confirmed at
$4, 00€1, 000.00 to 4, 999, 999.99, or
6)' $50, 000.00 if the assessments are confirmed at
$5, 000,000 .00 to 5, 999, 999.99, or
7) $55, 000 .00 if the assessments are confirmed at
$6, 000, 000'.00 or more.
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(c') Costs shall be reimbursed to Financial Advisor as
follows:
1) Cost of printing and distribution of the official
statement', notice to bidders, and other official
documents;..
2) Costs of Federal Express or similar delivery'
service
The cost of other services for whichFinancial Adviser makes
arrangements under this agreement (such as Underwriter' s
Discount, Official Statement printing costs) 'shall be billed
to the Client and shall be paid by Client directly to the
payee.
(d) Payment by Client: of the financial advisory fee is
contingent upon the sale of bonds representingunpaid
assessments in the district . If for any reason-, bonds
are not sold, `',Financial Advisor shall be paid nv fee.
Both the fee and costs are payable upon :,delivery of the
bonds
4 Financial Advisor certifies that it has no interest,
either direct or contingent, in any property or contract arising
from or affected by the assessment district, except as Financial
Advisor under this agreement Financial Advisor does not represent
any owner of property within the 'proposed`boundaries of this
assessment district,' and has not received a fee from any source for
services connected with the project.'
DATED: ` -' , 1992
CONTRA COSTA COUNTY, a political
subdivision of the State of California
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Chairman of the Board of Supervisors
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ATTEST
By
Clerk of Pe Uard of S erv' jars
LIBERTY :PUBLIC FINANCIAL ADVISORS
f`
ze.t,_
By
Nadine MC inney ee
By `
Charles A. Lee