FINANCING AGREEMENT
(M. A. C. Form C-3, Rev. Standard Form o) Agreement between Municipal Subdivision and
Municipal Bond Dealer Covering the Financing of Public Improvements through the Issuance and
Sale of Bonds. Form approved by the Municipal Advisory Council of Texas for the use of Mem-
bers Only.)
Dale- i~~~~~~ ~ _
To. THE HONORABLE COUNTY JUDGE & C S5IONERSt COURT
KER.R COUNTY
KERRVILLE, TEXAS
Gentlemen:
1. We understand that the construction of certain public improvements is contemplated by your
County in connection with which it is expected bonds for the following purpose (s)
will be issued and sold in the approximate amount (s) indicated:
Counthouse construction, equipment, improvement and addition. The amount
of the bond issue to be approximately $Q00,000
2. By this proposal we offer our professional services and facilities to assist you in the authorization, issu-
ance, sale and delivery of the foregoing bonds, it being understood that we are to be compensated in the follow-
ing manner:
a. The sale and delivery to us of the bonds at a price of par per $1,000 bond plus accrued
interest and at a rate or rates to be mutually acceptable to your Count~r_
and ourselves. Or, if for any reason it shall not be possible to agree upon an effective rate of interest
which is mutually acceptable, then we are to be compensated by:
b. The paytr~-at of a cash fee to be competed as follows:
The fee is to be the minimum fee as prescribed by the Municipal Advisory
Council of Texas as outlined in the booklet setting out the minimum
fees and standards of performance, a copy of such booklet is hereto
attached,
3. The services which we agree to render under this contract shall consist of the following:
a. To make a detailed study of the resources which may be pledged to secure payment of the bonds and
on the basis of such study to recommend for your approval a plan of financing complete as to maturi-
ties, options of prior payment and other relevant factors, all of which shall, in our opinion, be as
advantageous as possible to your Counter consistent with a minimum effective
interest rate.
b. Under the direction and legal advice of a firm of recognized municipal bond attorneys to be retained
by you and whose fees will be paid by us, we will assist you in and supervise the steps necessary to
be taken in the bond election, the legal issuance of the bonds and the final delivery of the bonds to
the purchaser. In this connection it is understood that you have retained, or will retain, the firm of
Dumas, Huguenin & Boothman, Kirby Building, Dallas, Texas _
whose legal services shall also include rendition of an unqualified approving opinion as to the legality
of the bonds.
c. At such time as it shall be decided to order a bond election, we will assemble and transmit to the bond
attorneys such data as may be required in the preparation of the necessary petitions, orders, resolu-
tions, notices and certificates; and upon preparation thereof, will submit such documents to your gov-
erning body for appropriate action.
d. We will procure and deliver to such official as you may designate such sets of election supplies, includ-
ing ballots (but excluding voting machines and voting booths) as are required for each polling place.
e. We will place an order for the printing of the bonds on lithographed borders and pay the cost of
such printng.
f. We will pay the necessary expenses in obtaining the approving opinion of the Attorney General of the
State of Texas and the registration of the lionds by the Comptroller of Public Accounts, and the
delivery of the bonds to the purchaser at a bank in Austin, Texas.
M.A.C. Form C-3, Rev.
g. If the bonds are eligible under Texas law for purchase by the State Board of Education, to assist in
the preparation and timely submission of an Application for Waiver to said Board.
4. We agree to direct and coordinate the entire program of financing herein coutemplated and to assume
and pay all expenses above enumerated. It is specifically understood and agreed, however, that this obligation on
our part shall not cover payment of any local election expenses (except that we shall furnish election supplies to
the extent hereinabove provided) ; nor shall it cover the cost of publication of notices in newspapers, or other
publication costs, or the expenses of any litigation.
5. It is contemplated by this contract that the determination of interest rate as provided by sub-paragraph 2a
shall be accomplished at a time or times mutually convenient, and shall be approached in absolute good faith on
the part of all concerned. It is understood and agreed, however, that in the interest of a consummation of the
financing program within a reasonable time that the _- ),5th day following the date of the bond
election is hereby designated as the deadline for reaching an agreement as to interest rate, and that if, by such
date, a mutually acceptable effective rate of interest has not been agreed upon, then we shall proceed under the
alternative provided by sub-paragraph 26 hereof.
6. In the event it shall become necessary to proceed under sub-paragraph 2b hereof under the circumstances
outlined in paragraph 5, foregoing, then in addition to all of the services herein before enumerated it is under-
stood and agreed that we will prepare an Official Notice of Sale, a Bidding form and an Official Statement, or
Prospectus, containing financial data and other information of the nature and to the extent ordinarily required by
municipal bond dealers in bidding on bonds of this type, all of which we are to furnish in a sufficient number
of copies to permit mailing to a list of prospective bidders which we also agree to provide. The fee due us under
sub-paragraph 2b shall become due and payable simultaneously with delivery of the bonds to the purchaser.
7. In the event the bond election contemplated by this proposal should fail, then the fee due us shall be
however, should the same or similar proposition (s) again be submitted at an election held within 18 .~
months from date hereof, then at our option the agreement covered by this contract shall apply to any bonds
authorized at such election.
8. This agreement shall be terminated by the delivery to the purchaser, whether ourselves or others, of the
bonds covered hereby. or by the lapse of 12 _months from date of your acceptance hereof, which-
ever shall first occur; however, if the bonds have not been so delivered within the period specified, this agree-
ment may be extended by mutual consent.
9. This proposal is submitted in triplicate originals. When accepted by you it will constitute the entire
agreement between your County and the undersigned for the purposes and considerations
herein specified. Your acceptance will be indicated by the signature of your ~Q ~n y TUdge ,
attested b}' your _Cottnty Clerk. _, nn all copies and returning two executed copies to us,
Respectfully submitted,
M, E, ALLISON & CO„ IN~s%sZC~sQ
By ~~~ _ G
Authorized Represenfaf ive
ACCEPTANCE
ACCEPTED pursuant to Order adopted by the Cgmtnissioners t Court
of
Kerr County _ on this the___~~ day
- 19__6_.
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Title _Cottntt~--Clerk _ __ _ _ -
(SEAL)
M.A.C. Form Cd, Rev.
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