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Compensation- Exhibit B Juran & Moody believes that a simple fee schedule is advantageous to both the client and us. With minor exceptions, the services performed by financial advisors ultimately relate to fu- ture bond issues. The bond issue fee is simple to understand, but one must use care in comparing our fees to those of our competitors. It is important to know what is included in the fee and what is not. For example, our fee includes 125 printed Official Statements and we do not charge for out -of- pocked expenses. Based on the City's Request, Juran & Moody will perform all requested services, including bond issue services, as part of our fee for bond issue services as hereinafter set forth, except for any special studies for which we would negotiate an agreed upon maximum fee before work commences. INCLUDED IN THE FEE Juran & Moody agrees to pay the following expenses from our fee: • Preparation of the Official Statement. • 125 printed Official Statements • Publication of the Notice of Bond Sale in local and regional newspapers • Distribution of the Official Statements • Fees for various debt certificates • Out -of- pocket expenses, such as travel, long distance telephone, meals and overnight accommodations, subject to successful closing of transaction • Production and distribution of materials to bond insurers NOT INCLUDED IN THE FEE The City agrees to pay for all other expenses of financing, including but not limited to: • Bond printing • Bond registration and paying agency fees • Engineering and/or architectural fees • Bond counsel and local attorney fees • Rating services and /or bond insurance fees • Accounting and other related fees • Travel expenses to New York City, if necessary, related to the bond rating process FEE SCHEDULE - PUBLIC SALES We propose the following schedule of fees for general obligation bond sales occurring in 1991 and 1992. Thereafter, either Juran & Moody or the City may request amendments to the schedule. Should agreement not be reached, either party may then terminate the contract. Our fee is payable within thirty (30) days of a bond closing. If for any reason a sale closing does not occur, then no fee is payable. It is also understood that either party may cancel any agreement with 30 days written notice. Juran & Moody, Inc. Page 17