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6.3.C. - Page 4 <br /> since staff does not have the expertise to perform these functions. Obtaining proposals <br /> from other firms will delay the issuance of refunding bonds by up to two months without <br /> any guarantee that staff will be able to identify firms that can provide comparable <br /> services at less cost. <br /> FISCAL IMPACT <br /> Each of the firms has proposed fees and the reimbursement of expenses on a <br /> contingent basis. If for any reason the proposed refunding bonds are not sold, the City <br /> will have no out-of-pocket expenses associated with the services provided by these <br /> firms. <br /> The cost for each member of the financing team is as follows: <br /> Water Revenue Bonds <br /> William Euphrat Municipal Finance, Inc, financial advisor $ 45,000 <br /> Nossaman LLC, bond counsel $ 48,000 <br /> Quint & Thimmig, disclosure counsel $ 40,000 <br /> Total $133,000 <br /> Lease Revenue Bonds <br /> Nossaman LLC, bond counsel $ 37,000 <br /> Quint & Thimmig, disclosure counsel $ 25,000 <br /> William Euphrat Municipal Finance, Inc., financial advisor $ 35,000 <br /> Total $ 97,000 <br /> The general fund will not be liable for any of these expenses. All expenses associated <br /> with the refunding will be paid from the proceeds of the refunding bonds. <br /> ENVIRONMENTAL REVIEW <br /> Not a project under the California Environmental Quality Act. <br /> ����`t--- <br /> BRIAN PONTY <br /> FINANCE DIRECTOR <br /> �� <br /> ROBERT B. BELL <br /> CITY MANAGER <br />