CC 2018-03-13_12a Supplemental No. 1MEMORANDUM
TO: CITY COUNCIL
FROM: DEBBIE MALICOAT, DIRECTOR OF ADMINISTRATIVE SERVICES
SUBJECT: SUPPLEMENTAL INFORMATION
AGENDA ITEM 12 a. -MARCH 13, 2018 CITY COUNCIL/SUCCESSOR
AGENCY MEETING
CONSIDERATION OF REFUNDING 2007 TAX ALLOCATION BONDS
DATE: March 12, 2018
It has come to Staff's attention that some of the costs reflected on Attachment 1
inadvertently contained incorrect amounts. Attached is an updated Attachment 1 with
the incorrect information shown in strike through and corrected amounts shown in
underline. These costs have been verified by the City's consultant assisting with the
bond refunding.
ATTACHMENT 1 ·REVISED
The Total Estimated Cost of Issuance, which is subject to change when bonds are
priced, is estimated at $315,414. All fees are payable solely from proceeds of the
refunding.
Service Provider Amount Percent of Est.
Issuance Fee
Bond Counsel -Quint & Thimmig LLP $45,000 14.27%
Disclosure Counsel -Quint & Thimmig LLP $30,000 9.51% .
Municipal Advisor -Wulff, Hansen & Co. $45,000 14.27%
Fiscal Consultant -Urban Futures $13,000 4.12%
~ntinuing Disclosure Consultant -Urban
tures $g,9ggg 22500 0.79%
Rating Agency $25,000 7.93%
Admin Fee (City) $25,000 7.93%
rrustee/Escrow -Wells Fargo $0,0ggg 52500 1.74%
rerification Agent -Grant Thornton $g,9ggg 22500 0.79%
r-1iscellaneous $6,aQQQ 62500 2.06%
Underwriter -Brandis Tallman $33,095 10.49%
Municipal Bond Insurance -TBD $66,461 21.07%
Reserve Fund Insurance -TBD $15,858 5.03%
Total Estimate $315,414 100.0%