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Service Fees <br />February 28, 2012 <br />Page 2 <br />Our fee schedule applies to the aggregate amount of debt issued that day — not on an individual <br />series basis. <br />Revenue Bonds and Advance Refunding Bonds are billed at 1.25 times the above fee schedule. <br />Negotiated Sale -- Debt Issuance <br />If the City chooses to issue bonds through a direct purchase by Northland Securities, the <br />amount of the underwriting fee will be negotiated based on the terms of the issue. <br />Out -of- Pocket Expenses <br />Northland will not bill the City for any out of pocket expenses for debt issuance such as <br />transcript, travel, copying, mail /shipping, and official statement printing. <br />Continuing Disclosure Fees <br />Fees for Continuing Disclosure services are proposed at $1,000 set up plus $250 per issue. A <br />50% discount is applied if debt of a like security was issued in the calendar year. <br />Advisory Services <br />We are committed to establishing fair and manageable arrangements for consulting projects <br />billed on an hourly basis. For every project, we provide you with a description of work to be <br />performed and a cost of services. We will not bill for costs in excess of the stated amount unless <br />the City agrees to a revised scope of work and budget. We do not surprise you with <br />unexpected billing. We do not seek compensation for services not under contract. We <br />encourage you to call and not worry about "starting the meter ". <br />These projects are typically billed monthly at a rate of $160 per hour, Invoices will detail the <br />work performed, requested compensation for the period and show amounts previously billed <br />and amount remaining under the approved budget. This information allows you to monitor the <br />budget on each project. <br />Do not hesitate to contact me with any questions about our cost of services. <br />iticerely, <br />Rusty Fifield <br />Director of Public Finance /Senior Vice President <br />