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r � � <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 />