HomeMy WebLinkAbout2005-192 Contract - Western Financial
WESTERN
FINJ\NCIAI..
GROIJP
June 24, 2005
Lee Tuneberg
Finance Director
City of Ashland
20 E. Main Street
Ashland, OR 97520
Dear Lee,
For the upcoming City of Ashland, General Obligation Refunding Obligations, Series 2005, which would
refund a portion of the GO Bonds, Series 1997 and GO Bonds, Series 2000, our services will include:
· Perform all numerical analyses of refunding scenarios and assist the City with evaluating options
. Oversee the preparation of the preliminary and final official statements
· Submit preliminary and final refunding plans to Oregon State Treasury on behalf the City.
· Contact insurance and rating agency
· Review all documents such as resolutions, disclosure documents, and closing documents
. Contact potential bidders for the bonds
. Evaluate bids and manage the sale of the bonds
· Manage all aspects of the financing process including financing calendar, term sheet, coordinate
efforts of other professionals
. Solicit bids for other professional services as necessary
We would propose to bill at an hourly rate of $160, or a 11at fee of $10,000. In consideration for the fees
contracted herein, we will exercise our best efforts on your behalf and will not be a purchaser of the
refunding bonds.
We will submit a bill for our fees, expenses and any third party expenses we incur at the end of the
financing. The POS and OS will be done by our subcontractor, NW Resources, and the estimated cost for
the POS/OS would be bill ed separately and would not exceed $3,500. In the event of a delayed financing,
we will defer our bill until the refunding occurs. Howevl~r, if the sale is delayed or cancelled, the City
may have to pay for actual expenses incurred. The expenses are expected to include a $200 fee: paid to
Oregon State Treasury required as part of the preliminary advance refunding plan, and approximately
$200 for the overlapping debt report.
PMB#172, 333 S. State Street, Suite V, Lake Oswego, OR 97034
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Thank you for the opportunity to work on this financing. Please sign below to acknowledge that this
letter constitutes a binding contract between the City and Western Financial Group.
Sincerely,
J<j~G-O~ rJ~
Kieu-Oanh Nguyen
Accepted by:
~~
Lee Tuneberg, Fmance Dt ctor
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CITY REf GORDER'S COpy
CITY OF
ASHLAND I
20 E MAIN ST. .
ASHLAND, OR 97520
(541) 488-5300
Page 1 / 1
DATE
8/30/2005
I [
PO NUMBER
06255
VENDOR: 005310
WESTERN FINANCIAL GROUP
PMB #172
333 S. STATE STREET, SUITE V
LAKE OSWEGO, OR 97034
SHIP TO: Ashland Finance Deartment
(541) 488-5300
20 E MAIN STREET
ASHLAND, OR 97520
FOB Point:
Terms: Net
Req. Del. Date:
Speciallnst:
Req. No.:
Dept.: ADMINISTRATIVE SEHVICES
Contact: Lee Tuneberq
Confirming? No
Ext. Price
Descrition
,IHI9J.9I\REY.!9ED PVRCIjASE ORDER
:Codldmati 'f;~Bo"aMiW!()05-2()()6
Per~!tciched contract
'200~r~~'"
.Not.;~2v,~~S~~;g..~.10, 09Q",
l-IoLJnYfate$'~60 . ,.
Estimated cost for POS/OS done by
subcbntractor.NWResoUrc~s. to be
billed separately, not to exceed $3,500.
15~000. 00
BILL TO: Account Payable
20 EAST MAIN ST
541-552-2028
ASHLAND OR 97520
SUBTOTAL
TAX
IFREIGHT
TOTAL
15 000.00
0.00
0.00
15,000.00
.
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A5tf(.1 ~~rized Signature
VENDOR COPY