Agmt19 Willliam Euphrat Municipal Finance, Inc.

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11-111tllii3 Regulatory Disclosures Required of Municipal Advisors Pursuant to Municipal Securities Rulemaking Board ("MSRB") Rules with a financial incentive to bill hours that may be in excess of those that are necessary. g. any other engagements or relationships of the municipal advisor or any affiliate of the municipal advisor that might impair the advisor's 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; William Euphrat Municipal Finance, Inc., is not engaged as a municipal advisor to any member of SVCW other than the City of Redwood City and has no other engagements or relationships that might impair its ability either to render unbiased and competent advice to or on behalf of the City of Redwood City or to fulfill its fiduciary duty to the City of Redwood City. h. the amount and scope of coverage of professional liability insurance that the municipal advisor carries (e.g., coverage for errors and omissions, improper judgments, or negligence), deductible amounts, and any material limitations on such coverage, or a statement that the advisor does not carry any such coverage; and William Euphrat Municipal Finance, Inc., carries claims made and reported professional liability insurance. The policy has a $10,000 deductible and coverage of $1 million for each wrongful act with a $2 million policy aggregate. A bond consultant endorsement to the policy contains specific exclusions and is attached hereto. L any legal or disciplinary event that is (a) material to the client's evaluation of the municipal advisor or the integrity of its management or advisory personnel; (b) disclosed by the municipal advisor on the most recent Form MA filed with the Commission; or (c) disclosed by the municipal advisor on the most recent Form MA -1 filed with the Commission regarding any individual actually engaging in or reasonably expected to engage in municipal advisory activities in the course of the engagement. If a municipal advisor has disclosed a legal or disciplinary event on any form referenced in section (b) or (c) of this rule, the advisor must provide the client with a copy of the relevant sections of the form or forms. William Euphrat Municipal Finance, Inc., has not been subject to any legal or disciplinary events. Page 13 of 15 REV: 02-11-19 DZ ATTY/AGR.2019.036/SVCW Wastewater Revenue Notes 2019A Municipal Advisor - Willaim Euphrat