2017.08.07 CC Packet - Laserfiche WebLink

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APPENDIX B OF AGREEMENT BETWEEN City of Hugo, Minnesota Springsted Incorporated Effective as of July 21, 2017 A. COMPENSATION FOR SERVICES RELATING TO CLIENT'S DEBT OBLIGATIONS 1. a. General obligation debt: Base fee of $7,500 for a bond issuance, plus $5 per $1,000 for the first $2,500,000 of bonds issued $1 per $1,000 for amounts over $2,500,000 of bonds issued b. The foregoing schedule shall include the Advisor's services through closing of a Debt Obligation. If the Advisor performs post -closing services relative to a Debt Obligation, it shall be compensated for such services at the hourly rates set out in paragraph B of this appendix. c. A single Debt Obligation with multiple financing plans is charged per plan with a discount of $4,000 per plan applied after the first plan. d. Non ad valorem supported debt and advance refunding shall be compensated at 1.25 times the fee set out in paragraph 1.a. above. e. Debt Obligations dependent on successful referenda shall be compensated at 1.10 times the fee set out in paragraph 1.a. above. f. In the event it is necessary for the Advisor to repeat Debt Obligation services because of events beyond the Advisor's control, the Advisor shall be compensated for such repetitive services at the hourly rates set out in the foregoing paragraph B. of this Appendix. The Advisor shall not be entitled to compensation under this section for failed referenda unless otherwise provided by agreement between the Client and the Advisor. g. The Advisor's fees shall be payable as follows: (i) For a Debt Obligation, fees shall be contingent upon closing of the Debt Obligation, except that if the Debt Obligation is awarded but cannot be closed by reason of an error, act or omission of the Client, the Advisor shall be paid the amount which it would have been due upon closing. (ii) If an issuance does not close for a reason that is beyond the control of the Client and without fault of the Client, then the Advisor shall be compensated at one-half the amount which would have been due upon closing. (iii) Fees for services provided in connection with a private placement are not contingent on the successful placement of the Debt Obligation. (iv) If a Client Debt Obligation is abandoned for any reason and the Advisor is without fault for such abandonment, the Advisor shall be paid a fee in the amount that would have been due if the Advisor's services to the point of abandonment had been charged at the hourly rate set out in paragraph B. herein however not more than the fee had the Debt Obligation been issued. A Debt Obligation shall be deemed abandoned upon notice by the Client to the Advisor of abandonment or whenever the Client has taken no action with respect to the Debt Obligation within one year, whichever occurs first. Delay in the issuance of Debt Obligations resulting from failed authorization I'm