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I <br /> <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br />I <br />I <br />I <br />I <br />I <br />i <br />I <br />I <br />I <br />I <br /> <br />2. Issuance Costs. The fee shown in Appendix A does not <br />cover out-of-pocket issuance costs such as cost of <br />printing and distributing the Official Statement, <br />publication costs, legal fees, rating fees, travel <br />expenses associated with rating reviews and marketing, <br />printing of bonds and closing costs outside the State of <br />Minnesota, and any other expenses necessarily incurred <br />for the issue. At the request of the Client, the <br />Consultant may pay some or all of these individual <br />out-of-pocket issuance costs and submit a summary billing <br />to the Client for reimbursement. <br /> <br />3. ~ayment Due. The Consultant's fee and any <br />reimbursement for out-of-pocket issuance costs shall be <br />due and payable upon receipt of the proceeds of the <br />issue. <br /> <br />4. Special Provisions. Fees due under Section II.A. <br />assume successful issuance of bonds. When this does not <br />occur, the following provisions shall prevail: <br /> <br />a. In the event no bid or offer is received or <br />accepted, or an award made, or through no fault of <br />the Consultant, delivery does not occur, the <br />Consultant shall be compensated for 80% of the full <br />fee due. If thereafter the issue is pursued or a <br />delivery completed, the Consultant shall be <br />compensated for the remaining 20% of the fee, but no <br />further fee unless additional work is necessary to <br />complete the sale. <br /> <br />b. Should a decision be made to not proceed or debt <br />is not issued after planning work has been performed, <br />the Consultant shall be compensated based on the <br />hourly rates shown in Appendix B. A project and <br />issue shall be considered to have been cancelled <br />whenever no affirmative action has been taken for a <br />period of one year or such lesser time when an <br />official action is taken to cancel the proposed <br />project and issue. <br /> <br />B. Additional Services. For the performance of services <br />described in Section I.D., the Consultant shall be <br />compensated on the basis of a fee determined by mutual <br />agreement between the Client and the Consultant. <br /> <br />1. Client authorization to proceed with services <br />described in Section I.D. may be accompanied with a <br />provision establishing a maximum fee or lump sum fee <br />mutually agreeable to the Client and the Consultant. <br /> <br />-6- <br /> <br /> <br />