Agenda Packets - 1983/10/24 - Laserfiche WebLink

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From the point at which the City decides to proceed, we would suggest the following course of action; • Review with Bond Counsel the legal considerations. • Identify the City's objectives and secondary benefits to be derived from the various potential courses of action. • Tentatively structure the account/s identifying target investments. • Establish a definite timem line under which to complete the transaction. • Review (3) and (4) above with staff for their concurance. • Select an escrow agent/s. Work with City/Counsel/Agent to draft Escrow Agreement, particularly reinvestment clauses. • Arrange for cash flow verfication (if necessary). • Purchase Securities. • Arrange for delivery. • Monitor delivery. • Formally summarize the transaction for the City including a written report (oral presentation if desired). To perform the tasks of the financial advisor as summarized above, we would charge according to our standard hourly charges as presented elsewhere in this proposal. Our esti +a-Qt,+nBfeQ-JQr Ws—en=gm_Qnt is up_tg,_but not to exc d t 400. Due to her extensive experience in this area, Ms. Aho would be assigned as special project manager. In addition to our fee the City will incur other costs as well. These costs will include the escrow agent fee, counsel fees for preliminary opinion as to legality and preparation of escorw agreement, cash flow verification (if necessary), and, of course, the purchase price of the selected investments. _Expor[ enrP �n in causes tA— estimate these fees less the cost of the investments to fall within +no rwnno s We are prepared to begin work on the engagement within two weeks of council action and would report preliminary findings and recommendations to staff within an additional two week period. 0