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<br />preparation and printing of the prospectus and printing of the appropriate <br /> <br />bonds and coupons, the Financial Advisor is to be paid within thirty (30) <br /> <br />days after completion of the sale and procurement of funds a fee of one per <br /> <br />cent (1.0%) of the principal amount of the bonds sold. <br /> <br />For example, if the amount of the issue is $213,000 (consolidate all <br /> <br />se~er issues), the fee (including preparation of a prospectus, bond printing, <br /> <br />advertising and arrangements for reinvestment of funds and the establishment <br /> <br />of the escro~ account) ~ill be $2,130. The legal fees in connection with <br /> <br />the offering ~ill be paid (to the bond attorney providing the (Opinion on the <br /> <br />bonds) by the Municipality and are not included in the one per cent (1%) fee <br /> <br />of the Financial Advisor. <br /> <br />9. It is understood and agreed that you will reserve the right to reject <br /> <br />any and all bids as offered at public sale. It is also understood that in <br /> <br />the event the sale is unsuccessful, the Municipality ~i1l pay the expenses <br /> <br />incurred in connection ~ith the offering (cost of preparing a prospectus, <br /> <br />advertising, etc.) and estimated at approximately $450, <br /> <br />Respectfully submitted, <br /> <br />ROBERT D. MILNE & ASSOCIATES <br /> <br />~ )). <br />B; t: L_L~';-- j (I{ltr( <br /> <br />The above and foregoing is hereby accepted by the undersigned duly qualified <br /> <br />officers for and on behalf of the <br />this ;l ~ - day of <br /> <br />VILLAGE OF ELK RIVER, MINNESOTA <br />~~~??I /,,--- <br /> <br />, 19 r:;~? . <br /> <br />~'-I <br />,.-~ ,/~ - <br />By(/ "_/Y;:.t!!!/7~' ) <br />L 1/' =-0"1?7/~tt/ <br />/~C1',. ~_ tlfivA <br /> <br />By <br /> <br />-3- <br />