1444 RES CITY COUNCIL ON 27TH DAY OF MAY 1970 AUTHORIZED PARTICIPATION IN COUNTY-WIDE OR REGIONAL WATER POLLUTION ABATEMENT STUDY

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h. In the event you are unable to obtain an agreement from a local financial institution to purchase the warrants issued to the contractor at p:~ for 6% warrants and further agree release th e warrants to you for refundino, if you so elect, we agree to find a financial institution, corporation or in- dividual who will agree to so purchase the warrants and agree to their refunding. 3. We agree to direct and coor6inate the entire program of financing herein camtemplated and to assume ar.:: pay the 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; nor shall it cover the cost of publication of notices in newspapers, or other publication costs, or the expenses of any litigation. 4. As consideration for the services rendered by us and as reimbursement for the expenses which we are to incur, it is understood and agreed that your City is to pay and we are to accept a cash fee to be computed as follows: $4,000 as a retainer fee payable upon execution of tnis agree- ment and additionally, as warrants are delivered to the con- tractor, a sum equal to 2% of the par amount of the warrants delivered. In the event the City decides to issue refunding bonds for the warrants a separate fee will be due us equal to the fee set out on Page 11 of the enclosed pamphlet "Standards of Performance and Recoir,r.iended Minimum Fees" as adopted by the Municipal Advisory Council of Texas with revisions of April 1, 1970, based on the par value of the refunding bonds so issued. 5. It is further understood anci agreed that we reserve the right to bid upon the refunding bonds should the City decide to offer sucn bonds for sale. 6. This agreement shall be terminated by the delivery to the purchaser of the warrants or refunding bonds covered hereby, or by the elapse of 24 months fram date of your acceptance hereof, whichever snall first occur; however, if the warrants and/or refunding bonds have not been so delivered within the period specified, this agreement may be extended by mutual consent. 7. This proposal is submitted in triplicate originals. When accepted by you it will constitute the entire agreement between your City and the undersigned for the purpose and considerations herein specified. Your acceptance will be indicated by the signature of your Mayor,'attested by your City Clerk, on all copies and re- turning two executed copies to us. Respect=ully submitted, ROWLES, WINSTON & CO., INC. 402 rair Foundation Building Tyler, Texas 75701 B Authorized Representative A C C E P T A N C E ACCEPTED pursuant to resolution adopted by ti.e City Council of the City of Paris, Texas, on this the 13th day of ,,~'Septeniber ) 19 71 ie: liayor, City of Paris, Texas ATTEST:, , > - r . , Title: City Clerk, City of Paris, iexas (SEAL)