1976-691-R - Laserfiche WebLink

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Honorable Mayor and City Counsil City of Batesville Independence County, Arkansas r `I Gentlemen: In connection with the authorization, issuance and sale of the City's proposed issue of Water and Sewer Construction Revenue Bonds, we respectfully submit the following proposal for your consideration: 1. We will cooperate with you incalculating and determining the proper maturity schedule and redemption provisions for the proposed bonds and other details relative to the security provisions and financial aspects of this issue. 2. We will submit a maturity schedule on the contemplated issue and a plan in- cluding other terms and conditions such as options on prior payment, which will, in our opinion, result in the issuance of the bonds under terms and conditions most advantageous to the City of Batesville with a minimum effective interest rate. 3. We will employ a recognized municipal bond counsel to prepare the necessary ordinances and/or resolutions. 4. The City will promptly adopt all necessary ordinances and/or resolutions per- taining to the issuance and sale of the bonds in such forms as are satisfactory to the retained municipal bond counsel and will take such other steps as such counsel may require to enable them to render an unqualified opinion upon the legality of the authorization., issuance, and sale of the bonds. 5. We will advise the City of Batesville of current market conditions, forthcoming bond issues and other general information and economic data which might nor- mally be expected to influence interest rates or bidding conditions so that a favorable date for the sale of the bonds may be set. 6. We will recommend the form, amounts, maturities and types of bonds to be issued in order that the bonds will be acceptable to the prospective purchasers, and issued to the best financial interest of the City of Batesville, including advising with the bond attorney in his preparation of the official Notice of Sale, as to conversion limitations and other restrictions. 7. We will conduct a public sale of the Water and Sewer Construction Revenue Bonds on the date set by the City of Batesville. 8. For our services described above, as fiscal agent, the City of Batesville agrees to pay us a fee of r 1(1� % of the issue prior to conversion. Out of this fee, we agree to pay the following expenses: (1) Printing of Bonds; (2) Approving opinion of the retaining bond counsel; and, (3) Publication costs of ordinance and notices.