AgdaPkt 2000-12-18 - Laserfiche WebLink

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�'�� WILLIAM EUPHRAT MUNICIPAL FINANCE, INC. QIygS7'MENT BANKING � CAPITAL MARKEf CONSULTII�IG 3100 CcaY S�Er • Sa�v FR,a►rrcisCO • C,�,�owvrA • 94115-1626 . _ — 'r — , . i�� l ; Te�ee�orrs: (415) 929-1564 • Fncsu�n..E: (415) 929-1440 - ' � NOV 14 2000 � November 7, 2000 ;��;, � ,- . Mr. Brian Ponty -- Director of Finance & Financial Planning City of Redwood City � 1017 Middlefield Road Redwood City, CA 94063 Dear Brian, � I am pleased that you have retained William Euphrat Municipal Finance, Inc. to assist the City of Redwood City (the "City") negotiate financial terms in connection with the development of a childcare facility on City-owned land in Redwood Shores. I am writing to confirm the terms under which we will provide our services. We agree to advise the City regarding fmancial matters relating to the proposed transaction. We shall perform such duties as are necessary for the careful review of this proposed transaction and make appropriate recommendations. Among other duties which we are qualified to perform, our duties will include attending meetings as requested or as is appropriate; proposing appropriate financial consideration by the developer to the City; assisting staff negotiate business terms in connection with a site lease and long-term loan � agreement; assisting City staff present the terms of the transaction to the City Council for its consideration; and, assisting staff document and implement the transaction. In the performance of our duties we shall prepare such financial analyses and written memoranda or reports as we deem appropriate or aze requested by staff. I believe that we both understand that our services to you will be consultative in nature. Our analyses and recommendations will be developed mutually with you and will be strongly dependent upon your cooperation, your input and information that you will supply. Because we are acting as independent contractors and not as your agent, you will retain control over, and responsibility for; all decisions. As compensation for our services you agree to pay William Euphrat Municipal Finance, Inc. at our hourly rate of $175 for services rendered in connecrion with this engagement, subject to a maximum charge of $15,000. You agree to pay our fee for professional services and reimburse our expenses regardless of whether the City completes a successful transaction for this project. We will advise you if our billings approach the maximum proposed herein. At such time, if you deem our services are still required, you agree to amend this agreement to increase the maximum allowable charge hereunder. In connection with the performance of our duties, it may be necessary for us to incur expenses on your behalf for items such as travel, meals, photocopying, messenger and delivery services, telephone calls and similar such expenses. You agree to reimburse us for such actual expenses. We shall bill you from time-to-time for services rendered and expenses incurred.