05/19/1981 AgreementWilliam R.Mou_qh & Co.
OLD PORT COVE JOE B. WISE
1212 D U.S. HIGHWAY ONE
VICE PRESIDENT
P.O. BOX 14095 RAYMOND V. CONDON
NORTH PALM BEACH, FLORIDA 33408 VICE PRESIDENT
(305) 626-3911 JUDY M. STUBECK
REPRESENTATIVE
AGREEMENT BETWEEN MONROE COUNTY AND WILLIAM R. HOUGH & CO.
RELATIVE TO THE ELECTION BY MONROE COUNTY
TO OFFER AT PUBLIC SALE
$2,000,000 IMPROVEMENT REVENUE BONDS, SERIES 1981
WTTNESTETH
THIS AGREEMENT entered into this 19 th day of May
1981 by and between Monroe County, Florida and William R. Hough & Co.
WHEREAS Monroe County, Florida (hereinafter referred to as "the
County") and William R. Hough & Co. (hereinafter referred to as
"Hough") have previously entered into an agreement dated the 25th
day of October, 1977 (the "Agreement") which Agreement relates to the
services to be rendered by Hough to the County with respect to the
financing of certain capital projects by the County; and
WHEREAS pursuant to the Agreement, the County has adopted a
resolution providing for the construction of capital improvements,
which improvements are more particularly described as the Marathon
Library, the Harry arris Park and the acquisition of a school board
building presently owned by the Monroe County School Board (the
"Project); and
WHEREAS the County has authorized the issuance of $2,000,000
Improvement Revenue Bonds, Series 1981 (the "Bonds") to pay for the
cost of the Project; and
WHEREAS pursuant to the terms of the Agreement, Hough has
provided, as of this date, the services required by the Agreement
relative to the financing of the Project; and
WHEREAS the County has elected, in accordance with the Agreement,
to sell the Bonds at public sale; and
WHEREAS in light of the County's election to offer the Bonds
at public sale, the parties hereto desire to set forth and describe
their rights and duties relative to the issuance of the Bonds, and
the financing of the Project.
STATE, COUNTY AND MUNICIPAL BONDS
William R. HSugh & Co.
Page Two
NOW, THEREFORE, in accordance with the foregoing and subject
to the terms and conditions hereinafter set forth, the County and
Hough do hereby agree as follows:
1. Pursuant to the Agreement, the County elects to
sell the Bonds at public sale.
2. Hough shall perform all services customarily provided
to public bodies issuing bonds through public sale,
and shall comply with the terms of the Agreement
relative to the services to be performed by Hough
whenever the County elects to offer Bonds at
public sale.
3. Upon delivery and payment for the Bonds, Hough shall
be paid a fee by the County in accordance with
Schedule "A" attached hereto and made a part hereof.
4. The County shall pay, from bond proceeds, all expenses
of issuance, including but not confined to, bond
counsel fee and expenses, local counsel fee and
expenses, validation costs, costs of preparation,
printing and distribution of the Official Statement,
bond printing costs, rating fee(s), advertising and
bid computation charges, signing and closing costs
and, if applicable, MBIA or AMBAC insurance premium.
5. Other than as set forth in this Agreement, the terms
and provisions of the Agreement shall remain in full
force and effect and shall be binding upon the
parties hereto until the Agreement is terminated or
modified.
IN WITNESS WHEREOF the parties hereto have set their hand and
seal the day and year first above written.
SIGNED, SEALED AND DELIVERED
IN THE PRESENCE OF:
ATTEST:
By:
WILLIAM R,4 HOUGH & CO.
I e e0
, Vice Pres,
ROE COUNTY, FLORIDA
EXHIBIT A
Recommended Schedule of Standard
Minimum Fees for Financial Consulting Contracts
The following schedule of standard minimum fees
is recommended by the Chartered Municipal
Financial Consultants of the Florida Security Dealers
Association and is considered to be appropriate
for all bond issues except general obligation bonds,
for which the recommended fee is 80010 of the
standard schedule and pari passu revenue bonds for
which the recommended fee is 70% of the standard
schedule. It is assumed that the issuer will pay all
direct expenses in connection with the financing.
Amount
Of Bonds
Amount
Of Fee
Fee Per $1,000
For Next $100A00
Par Value
Amount
Of Bonds
Amount
Of Fee
Fee Per $1,000
For Next $100,000
Per Value
$ 500,000
$ 7,500.00
$12.500
$2,800,000
$21,837.50
$4.000
600,000
8,750.00
11.250
2,900,000
22,237.50
3.875
700,000
9,875.00
10.000
3,000,000
22,625.00
3.750
800,000
10,875.00
8.750
3,100,000
23,000.00
3.625
900,000
11.750.00
7.500
3,200,000
23,362.50
3.500
1,000,000
12,500.00
6.250
3,300,000
23.712.50
3.375
1,100,000
13,125.00
6.125
3.400,000
24,050.00
3.250
1,200,000
13,737.50
6.000
3,500,000
24.375.00
3.125
1,300,000
14,337.50
5.875
3,600,000
24,687.50
3.000
1,400,000
14,925.00
5.750
3.700,000
24,987.50
2.875
1,500,000
15,500.00
5.625
3,800,000
25,275.00
2.750
1,600,000
16,062.50
5.500
3,900,000
25,550.00
2.625
1,700,000
16,612.50
5.375
4,000,000
25,812.50
2.500
1,800.000
17,150.00
5.250
4,100,000
26,062.50
2.375
0,900,000
17,675.00
5.125
4,200,000
26.300.00
2.250
2,000,000
18,187.50
5.000
4,300,000
26,525.00
2.125
2,100,000
18,687.50
4.875
4,400,000
26,737.50
2.000
2,200,000
19,175.00
4.750
4,500,000
26,937.50
1.875
2,300,000
19,650.00
4.625
4,600,000
27,125.00
1.750
2,400,000
20,112.50
4.500
4,700,000
27,300.00
1.625
2,500,000
20,562.50
4.375
4,800,000
27,462.50
1.500
2,600,000
21.000.00
4.250
4,900,000
27,612.50
1.375
2,700,000
21,425.00
4.125
5,000,000
27,750.00
All over $5,000.000
subject to negotiation.