Trustee - Laserfiche WebLink

Home Browse Search

3. Provide the following fee information: Initial Fee: $5,500. This fee include the following: Acceptance Fee- $1,000, first year Annual Administration Fee-$2,000, Trustee Counsel Fee- $2,000, and out of pocket expenses- $500. Includes review and negotiation of the Indenture/Resolution and all relevant financing documents supporting the issuance of the bonds; communication and coordination with Bond Counsel, Trustee's Counsel, investors and any other necessary members of the financing party; establishment of Registrar and Paying Agent records, authentication and delivery of the bonds and attendance at closing. Annual Administration Fee: $2,000.* This annual fee is payable annually in advance. It covers the normal administration of the issues, including maintenance of records, and other Trustee, Registrar and Paying Agent duties. Transaction Charges: (All included in annual administration fee above) 1. Payment of Principal- No Charge 2. Payment of Interest-No Charge 3. Transfer of Securities- No Charge 4. Wire Transfers- No charge Legal Fees: $2,000 (cap) The Law Offices of Michele G. Gangnes would serve as Chase's legal counsel for the subject contract. Michele Gangnes was formerly a partner in two major Pacific Northwest law firms, Kan Tuttle Campbell and Riddell, Williams, Bullitt & Walkinshaw (now Graham & James/Riddell Williams, LLP). Now specializing in representation of corporate fiduciaries, Michele has been continuously listed in the Red Book since 1988 as nationally recognized bond counsel, on a sole basis. The fee stated above for Trustee counsel review of documents for the Closing. We do not expect to contact legal counsel during the administration of the bond issue. Should our need for professional services arise, the fee would be determined at that time. Investment Transaction- No Charge Out of Pocket Expenses: Direct expenses (legal expenses, travel, and hiring of other professional services) will be charged at the actual cost thereof. Indirect expenses such as stationery items, checks, envelopes, etc., and disbursements such as postage and telephone will be charged at 4% of the annual administration fee. Account Set-Up- Not Applicable *Tlie Annual Administration fee will be waived during the construction period if the funds are invested in Chase Vista Funds, Cash Escrow, or a managed portfolio. Information on these investment options is included as Attachment C.