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<br />DISCLOSURE COUNCIL FOR LAND ACQUISITION BOND ISSUE
<br />The Board reviewed the letter of May 17, 1995:
<br />3414... /.9a l'Y,-Y Yww
<br />✓`- /9ot1 'vs -?9ee
<br />Re: Disclosure Counsel for Land Acquisition Bonds
<br />Dear Joe:
<br />In.accordance with our telephone conversation this morning
<br />understand that the County is interested in retaining our firm as
<br />disclosure counsel in connection with the above bond issue, the
<br />size of which will range between $10,000,000 and $26,000,000. We
<br />propose that our fee (which includes cut -of -pocket expenses) for
<br />serving as disclosure counsel in connection with this issue be
<br />based upon the hourly rates of the attorneys and legal assistants
<br />assigned to this matter, but that such fee not exceed $10,000.
<br />We propose that our scope of sen•ices for serving as
<br />disclosure counsel be as follows:
<br />I. Preparation of preliminary and final official statements.
<br />2. Conduct of diligence of review necessary in order to
<br />render an opinion to the County regardi
<br />Official statement. ng the accuracy of the
<br />If. the bonds are sold after July 3, 1995, the new SEC
<br />continuing disclosure rules will be applicable, and the County will
<br />be required to covenant with future bondholders to make continuing
<br />disclosure of the type set forth in the rules, which .includes
<br />filing with each national repository, annual reports updating
<br />information in the official statement, and the filing of notices of
<br />material events, as they occur. We will be happy r_c discuss this
<br />additional responsibility it more detail with vo.j -
<br />at -our
<br />convenience, and are available to assist the County -with
<br />compliance, for a fee mutually agreeable between the County and our
<br />firm, if you so desire.
<br />If you have any questions, please call me.
<br />57
<br />May 23, 1995
<br />ver- trul yours,
<br />Ju o Freeman, Jr.
<br />'BOOK P1�
<br />G
<br />4•�KrA
<br />p - X � /
<br />May 17, 1995
<br />Mr. Joe Baird
<br />Director, Office
<br />of Management and Budget
<br />Indian River County
<br />1840,25th Street
<br />Vero Beach, Florida 32960
<br />3414... /.9a l'Y,-Y Yww
<br />✓`- /9ot1 'vs -?9ee
<br />Re: Disclosure Counsel for Land Acquisition Bonds
<br />Dear Joe:
<br />In.accordance with our telephone conversation this morning
<br />understand that the County is interested in retaining our firm as
<br />disclosure counsel in connection with the above bond issue, the
<br />size of which will range between $10,000,000 and $26,000,000. We
<br />propose that our fee (which includes cut -of -pocket expenses) for
<br />serving as disclosure counsel in connection with this issue be
<br />based upon the hourly rates of the attorneys and legal assistants
<br />assigned to this matter, but that such fee not exceed $10,000.
<br />We propose that our scope of sen•ices for serving as
<br />disclosure counsel be as follows:
<br />I. Preparation of preliminary and final official statements.
<br />2. Conduct of diligence of review necessary in order to
<br />render an opinion to the County regardi
<br />Official statement. ng the accuracy of the
<br />If. the bonds are sold after July 3, 1995, the new SEC
<br />continuing disclosure rules will be applicable, and the County will
<br />be required to covenant with future bondholders to make continuing
<br />disclosure of the type set forth in the rules, which .includes
<br />filing with each national repository, annual reports updating
<br />information in the official statement, and the filing of notices of
<br />material events, as they occur. We will be happy r_c discuss this
<br />additional responsibility it more detail with vo.j -
<br />at -our
<br />convenience, and are available to assist the County -with
<br />compliance, for a fee mutually agreeable between the County and our
<br />firm, if you so desire.
<br />If you have any questions, please call me.
<br />57
<br />May 23, 1995
<br />ver- trul yours,
<br />Ju o Freeman, Jr.
<br />'BOOK P1�
<br />
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