HomeMy WebLinkAbout02771 - 1ST INTERSTATE BANK WWTP WASTEWATER TREATMENT PLANT CERTIFICATION PARTICIPATION First Interstate Bank 1st- Interstate Bank
of California ! WWTP Certif. of Particip.
r= Institutional Trust & 1989
First Investments Division AGREEMENT #2771
707 Wilshire Boulevard
Interstate Los Angeles, CA 90017 MO 4448, 9-20-89
Bank REVISION OF
JUNE 16, 1989
PROPOSAL
August 30, 1989
Mr. Tom Lockard
Stone & Youngberg
One California Street, 28th Floor
San Francisco, CA 94111
Re: CITY OF PALM SPRINGS
Refunding Certificates of Participation
1989 Wastewater Treatment Plant Project
$17 ,500 , 000
Dear Tom:
Thank you for the opportunity to submit our fee proposal to
act as Trustee, Registrar and Paying Agent on the above
referenced issue. Our fees for these services are as
follows:
Acceptance Fee $2 , 000
This one-time charge includes acceptance of the
account, review of the Trust Agreement and supporting
documents, liaison with agency officials, counsel and
underwriters and attendance at the closing by your
First Interstate Account Administrator.
First Interstate Bank will bill separately, at cost,
for legal fees incurred in this transaction.
Annual Administration Fee $5,000
In addition to the annual administration fee, during
the construction period there will be an additional
charge of $1, 500 per year.
Escrow Agent Fee $1,500
This fee will be charged annually during the life of
the escrow, as well as transaction charges as outlined
below in the Security Transactions paragraph.
At the closing, fees for the following services are due and
payable:
a) Acceptance Fee,,
b) Annual Administration Fee for the first year,
c) Charge for the original certificate issuance,
d) First Year Construction Period Fee, and
e) First Year Escrow Agent Fee.
Tom Lockard
August 30, 1989
Page Two
Thereafter, our Annual Administration Fee will be payable in
advance at the beginning of each annual period commencing with
the first anniversary of this Agreement.
Transaction Fees
Certificates Issued, Per Certificate $ 2 . 00
Registered Securityholder Accounts
Maintained, Per Account, Per Annum
(Includes Interest Checks Issued) $ 4. 00
Payment of Interest Coupons, Per Coupon $ 0. 25
Certificates Paid, Per Certificate $ 2 . 75
Security Transactions, Per Transaction $ 25. 00
Repurchase Agreements, Per Transaction $ 50 . 00
Checks Issued upon Requisition Against
Trust Accounts, Per Check $ 10. 00
Wire Transfer of Funds, Per Wire $ 25. 00
Letter of Credit Draws, Per Draw $100. 00
Redemption Processed, Per Redemption $250. 00
Out-of-Pocket, Expenses 50 of Annual Adlftinistrati on Fee
These expenses are those incurred by us on your behalf
to effectively service your account on a day-to-day
basis. They include: but are not limited to the
following items:
Postage, wire transfers, insurance, stationery,
express mail charges, and telephone.
A charge will be made to cover expenses incurred for
travel, lodging and meals to attend the closing for this
issue and or any other special meetings required.
Tom Lockard
August 30, 1989
Page Three
Legal and other expenses incurred while reviewing documents
in anticipation of closing will be the responsibility of the
issuer. In the event such issue does not come to market
those fees will be payable within 30 days of receipt of
billing.
These fees are based on the: standard responsibilities for
this type of issue. With further review of preliminary and
final documents, we reserve: the right to amend our fee
pricing.
The information contained in this proposal is confidential
and proprietary in nature. By receiving this proposal,
Stone & Youngberg agrees that none of its employees or agents
without the prior written consent of First Interstate Bank
will make accessible to any third party other than parties to
this issue, any part of this proposal or information in
connection with it. our quoted proposal pricing will remain
in effect for 60 days from the date of this letter and
extended thereafter at the option of First Interstate Bank.
Should we be selected as Trustee, Registrar and Paying Agent,
our acceptance is conditional upon our approval of the
appointing documents.
If you have any questions, please call me at 213/612-6609 .
Sincerely,
� V A����j�
Vicki J. Goebel ACCEPTED ON BEHALF OF
Institutional Trust Marketing THE CIT,YY , FF PALM SPRINGS
BY
VJG:el City Manager
ATTEST:
r
By �` _
u -City Clerk
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