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SCOPE APPENDIX to <br /> Engagement Letter dated: January 25, 2024 <br /> Between the City of Hugo, Minnesota and <br /> Baker Tilly US, LLP <br /> <br /> <br />(Scopev20230309) Page SA - 8 | 18 <br /> <br />RE: Municipal Advisory Services - Debt Issuance, Arbitrage, Continuing Disclosure <br /> <br />DATE: January 25, 2024 <br /> <br />This Scope Appendix is attached by reference to the above-named engagement letter (the Engagement <br />Letter) between the City of Hugo, Minnesota (the Client) and Baker Tilly US, LLP and relates to services to <br />be provided by Baker Tilly Municipal Advisors, LLC. <br /> <br />SCOPE OF WORK <br /> <br />Baker Tilly Municipal Advisors, LLC (BTMA) will perform the following services: <br /> <br />A. General Municipal Advisory Services <br /> <br />Unless otherwise agreed to by the parties, in connection with any request for services relative to any <br />financial topic, new project concept planning or other financially related topic or project (each referred <br />to herein as a Project), BTMA shall perform the following services, as applicable: 1. Provide general financial advice relative to a Project. 2. Survey the resources available to determine the financial feasibility of a Project. 3. Assist in the development of a plan including alternative approaches for a particular Project that <br />may be available and appropriate for such Project. 4. Assist the Client in selecting an approach for a Project. 5. Advise the Client generally on current market conditions, financial impacts of federal, state or other <br />laws, and other general information and economic data that might be relevant to a Project. 6. Assist Client, as requested, in identifying other professional services that may be necessary to a <br />Project. 7. Assist Client in coordinating the activities of the working group for a Project as needed. 8. Assist with the review of documents provided that are relevant to the development of a plan and <br />alternative approaches for a Project. 9. Assist the Client with other components of a Project as requested and agreed upon. <br /> <br />B. Securities Issuance <br /> <br />Unless otherwise agreed to by the parties, in connection with any request for services relative to any <br />debt issuance including modifying or refunding of a prior issuance or other financings (each referred to <br />herein as a “Transaction”), BTMA shall perform the following services, as applicable: 1. Develop a preliminary estimate of project costs and provide a financial feasibility to assist the Client <br />in its determination of what type of financing is most suitable to meet the needs of the Client for the <br />particular issuance (“Debt Obligation”). 2. Assist the Client in determination of an appropriate method of sale for the Debt Obligation (e.g. <br />competitive, negotiated, private placement.) 3. Provide for the Client’s consideration an amount, the security, maturity structure, call provisions, <br />estimated pricing, and other terms and conditions of the Debt Obligation. 4. Advise the Client on current market conditions, financial impacts of federal, state or other laws, and <br />other general information and economic data that might normally be expected to influence the <br />ability to borrow or interest rates of the Debt Obligation.