Agmt19 Willliam Euphrat Municipal Finance, Inc.

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Exhibit B Regulatory Disclosures Required of Municipal Advisors Pursuant to Municipal Securities Rulemaking Board ("MSRB") Rules following web address: htti)://www.msrb.org/Rules-and- I nterpretations/MSRB-Rules/General/Rule-G-10-10-13-2017.aspx?tab=oi. 9. The MSRB web address is hftp://www.msrb.org. 10.A municipal advisor must, at or prior to the inception of a municipal advisory relationship, provide the client with a document making full and fair disclosure of all material conflicts of interest, including disclosure of: a. any actual or potential conflicts of interest of which it is aware after reasonable inquiry that might impair its ability either to render unbiased and competent advice to or on behalf of the client or to fulfill its fiduciary duty to the client, as applicable. If a municipal advisor concludes that it has no material conflicts of interest, the municipal advisor must provide written documentation to the client to that effect; William Euphrat Municipal Finance, Inc., is not aware of any such conflict of interest. b. any affiliate of the municipal advisor that provides any advice, service, or product to or on behalf of the client that is directly or indirectly related to the municipal advisory activities to be performed by the disclosing municipal advisor; William Euphrat Municipal Finance, Inc., does not have any affiliates. c. any payments made by the municipal advisor directly or indirectly to obtain or retain the client's municipal advisory business; William Euphrat Municipal Finance, Inc., has not made any payments to retain the City of Redwood City's business. d. any payments received by the municipal advisor from third parties to enlist the municipal advisor's recommendation to the client of its services, any municipal securities transaction or any municipal financial product; The only payments to be received by William Euphrat Municipal Finance, Inc., relating to this engagement are the fees to be paid by the City of Redwood City. e. any fee -splitting arrangements involving the municipal advisor and any provider of investments or services to the client; William Euphrat Municipal Finance, Inc., will not participate in fees earned by other parties on any work related to this engagement. f. any conflicts of interest that may arise from the use of the form of compensation under consideration or selected by the client for the municipal advisory activities to be performed; William Euphrat Municipal Finance, Inc., has proposed hourly compensation. This form of compensation provides the firm Page 12 of 15 REV: 02-11-19 DZ ATTY/AGR.2019.036/SVCW Wastewater Revenue Notes 2019A Municipal Advisor - Willainn Euphrat