Contracts & Agreements_18-1971 - Laserfiche WebLink

Home Browse Search

4. Agency shall pay Bank fees for its services in accordzi.)ce with the following schedule. A. The opening fee for the acceptance of the account:, including the review of the Resolution and supportihhg documents; registration and delivery of the bonds; and the setting up of all required. records: $350.00 B. The annual administration fee for performing all the duties assigned to or imposed upon the Fiscal Agent in the Resolution; for investing funds; and for receiving and allocating the revenues: $500.00 .for the first $1,000,000 principal amount outstanding $250.00 per million on the next $4,000,000 principal amount outstanding The annual administration fee is based on the principal amount of bonds outstanding at the beginning of each billing year. The initial fee is: $625.00 C. The fee for paying bonds of $5,000 denomination and semi-annual coupons thereon:' for each bond $2.00 for each coupon .17 D. The fee for the destruction or cremation of bonds and coupons is included in our annual administration fee. E. The fee for bond registration services: for each registration $2.00 F. The fees to the Co --Paying Agents will be paid out of our fees in accord to the number of bonds and coupons paid by each of them. However, if the fee generated by the activity on any interest payment date does not reach a minimum of $25.00 for each of the Agents, the amount necessary to provide them with the stated minimum will. be added to your bill. G. The fee for the execution of documents to evidence release and closing of all accounts is included in our annual administration fee. II. The cost of normal out--of--pocket expenses such as stationery, postage and insurance, telephone and telegraph charges, etc. is included in our annual administration fee. Should a default occur requiring special action to be taken by the Trustee, a reasonable fee will be charged depending upon the amount and Nature ofthe service involved. The foregoing schedule is subject to renegotiation should conditions warrant. 5. Bank shall render a semi-annual statement as of February 1, and August 1, of each year for the amount of fees due Bank pursuant to this Agreement. Upon receipt of such statement, City shall pay Bank the amount -of such statement.