HomeMy WebLinkAboutAgr 2018-05-23 (NBS Government Finance Group) 1
N BS"
helping communities
fund tomorrow
32605 Temecula Parkway, Suite 100
Temecula, CA 92592 MECEIVEID
Toll free: 800.676.7516
nbsgov.com
MAY 3 0 2019
TOWN TOW!OF Tisul C)N
May 23, 2018
Ms. Heidi Bigall
Director of Administrative Services
Town of Tiburon
1505 Tiburon Blvd
Tiburon, CA 94920
Dear Heidi,
Enclosed please find one (1) executed copy of the agreement. Please retain for your records and remit
the fully executed copy at your earliest convenience to my attention at the email address below,there
is no need to send back an original copy.
contracts@absgov.com
Please contact me with any questions at(800) 676-7516 or the email referenced above. We look
forward to working with you on this project!
Si, erely,
A a da Mit hell
Contract Administrator
helping communities fund tomorrow
CONSULTING AGREEMENT
This Consulting Agreement(Agreement) is made as of the V) Pkday of May , 2018, by
and between NBS GOVERNMENT FINANCE GROUP, a California corporation, dba "NBS"
("Consultant"),
and TOWN OF TIBURON ("Client").
RECITALS
A. The Client desires to obtain certain consulting services for 1915 Act Assessment
District (AD)Administration Services.
B. The Client desires to engage Consultant as an independent contractor to perform such
services on the terms and conditions set forth herein.
In consideration of the foregoing and of the mutual promises set forth herein, and
intending to be legally bound, the parties hereto agree as follows:
AGREEMENT
1. Services. Consultant shall perform the scope of services described in Exhibit A,which is
attached hereto and incorporated herein by reference ("Services"). Any other services required or
requested by Client shall be subject to mutual agreement of the parties and may be subject to
additional scope of work and fee negotiations.
2. Term.The term of this Agreement shall commence when agreement is fully executed.
3. Compensation. Compensation to be paid by Client to Consultant shall be in accordance
with the schedule set forth in Exhibit B,which is attached hereto and incorporated herein by reference.
Client and Consultant recognize that the scope of the project may change from that defined in Exhibit A
and that significant changes in the scope of services will require renegotiation of fees.
4. Expenses. Except certain billable expenses as set forth in Exhibit B, Consultant will be
responsible for all of its expenses incurred in performing the Services hereunder.
5. Qualifications of Consultant. Client has relied upon the professional training and ability
of Consultant to perform Services hereunder as a material inducement to enter into this Agreement.
Consultant shall therefore provide properly skilled professional and technical personnel to perform all
Services under this Agreement. All work performed by Consultant under this Agreement shall be in
accordance with applicable legal requirements and shall meet the standard of quality ordinarily to be
expected of competent professionals in Consultant's field of expertise.
6. Independent Contractor Status.The relationship of Consultant and Client hereunder is
an independent contractor relationship and nothing in this Agreement shall be construed to create any
other relationship. No agent, employee, or representative of Consultant shall be deemed to be an
agent, employee,or representative of Client for any purpose. Consultant agrees that neither it nor any
of its employees, is entitled to the rights or benefits afforded to Client's employees, including disability
or unemployment insurance, workers' compensation, medical insurance, sick leave, or any other
employment benefit. Consultant is responsible for providing, at its own expense, disability,
unemployment, workers' compensation, training, permits, and licenses for its employees. Consultant
Town of Tiburon
1915 Act AD Administration 1
does not have, nor shall it hold itself out as having, any right, power or authority to create any contract
or obligation, either express or implied, on behalf of, in the name of, or binding Client.
7. Income Taxes. Consultant is responsible for paying when due all federal, state and
local income taxes, incurred as a result of the compensation paid by Client to Consultant for Services
under this Agreement. Consultant agrees to indemnify Client for any claims, costs, losses,fees,
penalties, interest, or damages suffered by Client resulting from Consultant's failure to comply with this
provision.
8. Insurance Requirements. Consultant, at its own cost and expense,shall procure and
maintain, for the duration of this Agreement, commercial general liability insurance (said insurance
shall have a limit for each occurrence of at least Two Million Dollars ($2,000,000), and Four Million
Dollars$4,000,000 aggregate) naming Town of Tiburon as additional insureds, in connection with
Consultant's activities, officers, employees, officials, agents, officers, staff and Board members),
workers'compensation insurance and employer's liability insurance as required by the State of
California (said insurance shall not be less than One Million Dollars($1,000,000) per accident or
disease),and professional errors and omissions liability insurance (said insurance shall cover
Consultant's performance under this Agreement with a limit of liability of at least Two Million Dollars
($2,000,000)for any one claim and aggregate), and automobile insurance with a limit of at least One
Million Dollars ($1,000,000). Prior to commencement of the Services,Consultant shall deliver to Client
a Certificate of Insurance evidencing compliance with this paragraph.The certificate shall stipulate that
advance written notice of cancellation of the required policy shall be given to the Client by any and all
insurance companies.
9. Client's Responsibilities. The Client shall furnish Consultant with any pertinent
information that is available to Client and applicable to the Services. The Client shall designate a
person to act with authority on its behalf in respect to the Services. The Client shall promptly respond
to Consultant's requests for reviews and approvals of its work, and to its requests for decisions related
to the Services. Client understands and agrees that Consultant is entitled to rely on all information,
data and documents (collectively, "Information") supplied to Consultant by Client or any of its agents,
contractors or proxies or obtained by Consultant from other usual and customary sources including
other government sources or proxies as being accurate and correct and Consultant will have no
obligation to confirm that such Information is correct and that Consultant will have no liability to Client
or any third party if such Information is not correct.
10. Indemnification. Consultant shall defend, indemnify and hold harmless Client, its
officers, employees, officials and agents from and against all claims, demands, losses, liabilities, costs
and expenses, including reasonable attorneys'fees, (collectively"Liabilities") arising out of or resulting
from the negligence or willful misconduct of Consultant or a breach by Consultant of its obligations
under this Agreement, except to the extent such Liabilities are caused by the negligence or willful
misconduct of Client. Consultant will not be liable to the Client or anyone who may claim any right due
to a relationship with Client, for any acts or omissions in the performance of Services under this
Agreement, unless those acts or omissions are due to the negligence or willful misconduct of
Consultant. Except in the case of Consultant's negligence, willful misconduct or breach of its obligations
under this Agreement, Client shall defend, indemnify and hold harmless Consultant, its officers,
directors, shareholders, employees and agents from and against all Liabilities to the extent that such
Liabilities arise out of Consultant performing Services pursuant to the terms of this Agreement,
including, without limitation, any Liabilities arising as a result of Client or any of its agents or
Town of Tiburon
_,,`' 1915 Act AD Administration 2
contractors supplying incorrect Information or documentation to Consultant.The provisions of this
Section 10 shall survive termination of this Agreement.
11. Limitation of Liabilities.Client hereby agrees that to the fullest extent permitted by law,
Consultant's total liability to Client for any and all injuries, claims losses, expenses or damages
whatsoever arising out of or in any way related to Consultant's Services under this Agreement from any
cause or causes, including but not limited to Consultant's negligence,errors, omissions or breach of
contract (hereafter"Client claims") shall not exceed the total sum paid on behalf of or to Consultant by
Consultant's insurers in settlement or satisfaction of Client claims under the terms and conditions of
Consultant's insurance policies applicable thereto.The provisions of this Section 11 shall survive
termination of this Agreement.
12. Equal Opportunity Employment. Consultant represents that it is an equal opportunity
employer and it shall not discriminate against any subcontractor,employee or applicant for
employment because of race, religion, color, national origin, disability,ancestry,sex,gender identity,
sexual orientation,or age. Such non-discrimination shall include, but not be limited to, all activities
related to initial employment, upgrading, demotion,transfer, recruitment or recruitment advertising,
layoff or termination.
13. Attorneys' Fees. In the event of any action or other proceeding, including arbitration or
other non-judicial proceedings, arising from, in, under or concerning this Agreement and any
amendment thereof, including, without limiting the generality of the foregoing, any claimed breach
hereof,the prevailing party in such action or proceeding shall be entitled to recover from the other
party in such action or proceeding, such sum as the court shall fix as reasonable attorneys'fees
incurred by such prevailing party.
14. Compliance with Law. In connection with the services rendered hereunder, Consultant
agrees to abide by all federal, state, and local laws, ordinances and regulations.
15. Entire Agreement; Amendment. This Agreement, including the Exhibits attached
hereto, constitutes the final, complete and exclusive statement of the terms of the agreement between
Client and Consultant with respect to the transactions contemplated hereby and supersedes all prior
and contemporaneous agreements, arrangements or understandings between them with respect
thereto. This Agreement may not be amended, modified or changed except by instruments in writing
signed by all of the parties hereto.
16. Nonwaiver. No failure or neglect of either party hereto in any instance to exercise any
right, power or privilege hereunder or under law shall constitute a waiver of any other right, power or
privilege or of the same right, power or privilege in any other instance. All waivers by either party
hereto must be contained in a written instrument signed by the party to be charged.
17. Controlling Law;Jurisdiction.This Agreement shall be construed and enforced in
accordance with the laws of the State of California without reference to its choice of law provisions.
The parties hereto hereby irrevocably waive any objection, including,without limitation, any objection
to the laying of venue or based on Forum Non Conveniens, which it may now or hereafter have to the
bringing of any action or proceeding in the manner, or in any of the jurisdictions, provided herein.
18. Counterparts.This Agreement may be executed in any number of counterparts and
each such counterpart hereof shall be deemed to be an original instrument, but all such counterparts
together shall constitute but one agreement.
Town of Tiburon
_; 1915 Act AD Administration 3
19. Further Assurances. The parties shall at their own cost and expense execute and
deliver such further documents and instruments and shall take such other actions as may be reasonably
required or appropriate to carry out the intent and purposes of this Agreement.
20. Successors and Assigns. Consultant and Client each binds itself, its partners, its
successors, legal representatives and assigns to the other party of this Agreement and to the partners,
successors, legal representatives and assigns of such other party in respect of all covenants and
agreements contained herein.
21. Notices. All notices, requests, demands, and other communications required to or
permitted to be given under this Agreement shall be in writing and shall be conclusively deemed to
have been duly given (a) when hand delivered to the other party; or(b) when received when sent by e-
mail or facsimile at the address and number set forth below(provided, however,that the receiving
party confirms receipt of such notice by e-mail,facsimile or any other method permitted hereunder,
and that any notice given by e-mail or facsimile shall be deemed received on the next business day if
such notice is received after 5:00 p.m. (recipient's time) or on a non-business day);or(c)three business
days after the same have been deposited in a United States post office with first class or certified mail
return receipt requested postage prepaid and addressed to the parties as set forth below; or(d)the
next business day after same has been deposited with a reputable overnight delivery service
reasonably known by the parties (such as FedEx, DHL WorldWide Express, California Overnight, USPS
Priority Mail Express, etc.), postage prepaid, addressed to the parties as set forth below with next-
business-day delivery guaranteed, provided that the sending party receives a confirmation of delivery
from the delivery service provider.
If to Consultant:
NBS Government Finance Group
Attention: Michael Rentner, Chief Executive Officer
32605 Temecula Parkway,Suite 100
Temecula,CA 92592
Telephone: (951) 296-1997
Fax No.: (951) 296-1998
E-Mail: mrentner@nbsgov.com
If to Client:
Town of Tiburon
Attention: Heidi Bigall, Director of Administrative Services
1505 Tiburon Blvd.
Tiburon, CA 94920
Telephone: (415 )435 -7378
Fax: (415 )435 -2438
Email: hbigall@townoftiburon.org
22. References and Titles. All references in this Agreement to Articles,Sections,
Subsections and other subdivisions refer to corresponding Articles, Sections,Subsections and other
subdivisions of this Agreement unless expressly provided otherwise. Titles appearing at the beginning
of any subdivision are for convenience only and do not constitute any part of such subdivision and shall
be disregarded in construing the language contained in such subdivision. The words this Agreement,
this instrument, herein, hereof, hereby, hereunder, and words of similar import refer to this Agreement
Town of Tiburon
1915 Act AD Administration 4
as a whole and not to any particular subdivision unless expressly so limited. Pronouns in masculine,
feminine and neuter genders shall be construed to include any other gender, and words in the singular
form shall be construed to include the plural and vice versa, unless the context otherwise requires.
23. Time. Time is of the essence.
24. No Third Party Beneficiaries. Nothing contained in this Agreement is intended to and
nothing contained herein shall be interpreted to confer on any party the rights of a third party
beneficiary and this Agreement shall be for the sole benefit of the parties hereto.
25. Severability. If any term, covenant,condition or provision of this Agreement, or the
application thereof to any person or circumstances is held by a court of competent jurisdiction to be
invalid,void or unenforceable, the remaining provisions will, nevertheless, continue in full force and
effect without being impaired or invalidated in any way.
26. Language. The language of this Agreement shall be construed as a whole and in
accordance with the fair meaning of the language used. The language of this Agreement shall not be
strictly construed against either party based upon the fact that either party drafted or was principally
responsible for drafting this Agreement or any specific term or condition hereof.
27. Termination. This Agreement may be terminated by either party by giving thirty(30)
business days written notice to the other party of its intent to terminate this Agreement. Upon
termination, Consultant shall be entitled to compensation for services performed up to the effective
date of termination and Client shall be entitled to all work performed to that date.
IN WITNESS WHEREOF, Client and Consultant have executed this Agreement on the day and
year first above written.
CONSULTANT CLIENT
NBS GOVERNMENT FINANCE GROUP, TOWN OF TIBURON
a California c� ion, dba N
a
By: a�Z& _ _.. By: ,
Name: Michael Rentner Name: '
Title: Chief Executive Officer Title: _
Date: �� Date: 4'z
Attachments:
Exhibit A: Consultant Scope of Services
Exhibit B: Compensation for Services
AP7PV,,.
ORIM
TOWN ATTORNEY
TOWN OF TIBURON
Town of Tiburon
1915 Act AD Administration 5
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CONSULTANT SCOPE OF SERVICES
1915 ACT ASSESSMENT DISTRICT(AD)ADMINISTRATION
KICK-OFF MEETING, PROJECT SCHEDULE. NBS will meet with Client staff, legal counsel and other
interested parties to:
* Establish lines ofcommunication
• Clarify the specific project goals und criteria that will meet the Client's preference.
• Identify and resolve any special circumstances that may be involved in the administration
of the districts
w Develop project schedules to meet legal requirements and provide for effective interaction
ofall involved parties
~ Establish meeting dates consistent with schedule to achieve project milestones
DATA COLLECTION. NBSwill gather and review data relevant tothe administration ofthe district. Data
will be obtained from various sources, including Client records,Assessor's parcel maps, and County
Assessor information and establish a database for the assessment district.
POLICY REVIEW. N8Svvi|| review policies and procedures that have been established by the Client for
compliance with the governing documents and law.These policies will be incorporated into our service
tothe Client.
COST RECOVERY. N85xvi|| identify all costs associated with the administration ofthe Assessment
District and recover those costs through the levy process usoutlined in §8682 and 68682.1 of the
California Streets and Highways Code.These costs may include, but not be limited to
Registrar/Transfe'/PeyingAgent fees,Arbitrage Rebate calculation fees, bank fees, and expenses of the
Client and its consultants related to the administration of the district.
FUND ANALYSIS. NB3will determine the balance requirements and acquire the current cash balances
for the district. We will make recommendations to ensure that the flow of funds and fund balances are
in compliance with bond documents. Cash flow analysis will also be performed to determine any levy
shortfall orsurplus.
ANNUAL ASSESSMENT LEVY. NBS will calculate the annual assessment levy for each parcel in the
district and submit the amount for each parcel tothe County inthe format and medium (i.e.tape,
diskette) required by the Coun1yAuditor'Contro||er.
RESUBMISSION OFREJECTS. N8Swill research the status ofany parcels rejected bythe County Auditor'
Cuntro||er, andnesubnnitmorrecteddataforcn||ectinnontheCountyTaxRo||. Anyperce|sthatarenot
accepted by the County for collection will be invoiced directly,with payment directed to the Client.
MAINTAIN ASSESSMENT DISTRICT DATA. NBS will annually track all parcel changes to ensure that all
changes are documented. Historical parcel change and assessment apportionment data will be
maintained byN8S.
ANNUAL REPORT. NBSxvi|| provide a comprehensive Annual Report that will show a detailed listing of
the amounts submitted to the County or directly billed for collection, details of delinquent
assessments,fund analysis, paid off parcels and release of liens, all bond oa|| activity, and assessed
valuation information.
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Town ofTibumn
�������D����/ z9z5Act AnAdministration 6
DELINQUENCY MONITORING. NBS will provide the Client with a comprehensive list of delinquencies
after each installment becomes due. This report will show delinquency percentage as well as a detailed
list of each delinquent parcel.
PREPAYMENT CALCULATION/AMORTIZATION SCHEDULE. NBS will provide assessment prepayment
calculations and amortization schedules to interested parties.The requester will pay the cost of this
service; however,there will be no charge to the Client or property owners.
BOND CALLS. NBS will prepare the spread of principal to be called within maturities for all bond calls
and coordinate the call with the Paying Agent/Trustee.
RELEASE OF LIENS. NBS will prepare all documents required to release the liens of parcels that have
prepaid the assessment.
NOTICE OF SPECIAL ASSESSMENT. NBS will provide a "Notice of Special Assessment" disclosure notice
to requesting parties as required by§53754 of the Government Code of the State of California.The fee
of any Notice of Special Assessment shall be paid by the party requesting the disclosure notice.
TOLL-FREE PHONE NUMBER. NBS will provide a toll-free phone number for use by the Client, other
interested parties and all property owners. Our staff will be available to answer questions regarding the
formation and ongoing collection of assessments for the district. Bilingual staff is available for Spanish-
speaking property owners.
COUNTY ASSESSOR REPORTING. NBS will work with the County Assessor to aid in complying with the
requirements of Revenue &Taxation Code 163.This includes providing data such as parcel number,
original assessment and current principal balance to the County Assessor.
CONTINUING DISCLOSURE(OPTIONAL)
In accordance with the Continuing Disclosure Certificate of the Bonds, NBS will support with the annual
disclosure filing requirements of the SEC Continuing Disclosure Rule 15c2-12. Specifically, NBS will
perform the following:
DOCUMENT REVIEW. NBS will review pertinent documents of the Bonds, including the Official
Statement and Continuing Disclosure Certificate.We will identify material such as the Comprehensive
Annual Financial Report and/or other operating data that the Client has agreed to provide in the
Continuing Disclosure Certificate.
DATA COLLECTION. NBS will collect the annual financial information and operating data that the Client
has agreed to provide to the Electronic Municipal Market Access system, or EMMA.
REPORT PREPARATION. NBS will prepare the Annual Disclosure Report as required in the Disclosure
Certificate.
ANNUAL DISSEMINATION. NBS will disseminate the Annual Disclosure Report including Client
Financials to EMMA and any SID, and post to our website to allow public access free of charge.
SIGNIFICANT EVENTS. NBS will prepare and disseminate a "Notice of Significant Events", as listed on
the Continuing Disclosure Certificate, to EMMA, as required in the certificate. Action will commence
upon notification by the Client of the occurrence of any of the events.
Town of Tiburon
1915 Act AD Administration 7
DELINQUENCY MANAGEMENT(OPTIONAL)
NBS will develop a comprehensive delinquency management program which includes a discussion and
interpretation of the issuer's foreclosure covenant together with a review of the existing policies and
procedures of the Client.This service can be provided as part of overall annual administration or as a
stand-alone service. When deemed as the appropriate course of action, NBS will perform the
following.
DELINQUENCY REPORTS. NBS will provide the Client with an updated list of delinquencies prior to
sending any of the below letters. This report will also detail each district's percentage of delinquencies,
as well as a detailed list of each delinquent parcel.
REMINDER LETTER. At the Client's direction, send a reminder letter to the property owner of each
delinquent parcel for the December 10th installment. The purpose of the letter is to inform and
educate the property owner of their obligation to pay assessments.
DEMAND LETTER.At the Client's direction,send a demand letter to the property owner of each
delinquent parcel for the April 10th installment. This letter will be mailed to any property owner who
remains delinquent for both installments or who is delinquent for April 10th only. The purpose of this
letter is to further educate the property owner and advise them of a potential foreclosure.
LIENHOLDER LETTER. At the Client's direction, send a demand letter to the lienholders of loan-
defaulted parcels where a Notice of Default has been filed, notifying them of the special tax/
assessment delinquency and the loss of their lien position when judicial foreclosure occurs. The
purpose of this letter is to educate the lienholders and to spur quick payment of delinquencies in order
to protect their interest in the property.
LIENHOLDER RESEARCH. At the Client's direction, perform detailed search of public records to identify
lienholders on non-loan-defaulted parcels. The purpose of this is to allow further communication from
the Client to educate the lienholders and to spur quick payment of delinquencies in order to protect
their interest in the property.
FORECLOSURE LETTER.This type of letter is typically sent after the installments for a parcel have been
removed from the tax roll. The letter delineates what amount must be paid directly to the Client to
forestall the turnover of documents to the foreclosure attorney.
TAX ROLL REMOVAL AND NOTICE. NBS will provide the information required to remove parcels from
the tax roll and coordinate with the County Auditor Controller to verify the removal. This step is in
preparation of turning the parcels over for foreclosure. Once removed from the tax roll,each property
owner will receive one final foreclosure letter indicating the amount due and payment instructions.
NBS will file the Notice of Intent to Remove Delinquent Installments and remove such Notice upon
payment of the delinquency.
PAYMENT PLANS. At the Client's discretion, NBS will offer payment plans to property owners in lieu of
turning parcels over to the Client's foreclosure counsel.
SUBSEQUENT FORECLOSURE SERVICES. NBS will prepare and deliver all information to the Client's
foreclosure counsel. We will also continue to supply the Client's counsel with additional information
throughout the foreclosure process. We will continue to respond to property owner and Client staff
Town of Tiburon
1915 Act AD Administration 8
phone calls regarding the status of all cases, and will coordinate and audit status reports on a bi-
monthly basis from the Client's foreclosure counsel.
TOLL-FREE PRONE NUMBER. NBS will provide a toll-free phone number for use by the Client, other
interested parties and all property owners. Our staff will be available to answer questions regarding
the formation and ongoing collection of assessments/special taxes for the districts. Bilingual staff is
available for Spanish-speaking property owners.
ARBITRAGE REBATE(OPTIONAL)
To assist in compliance with the IRS Code and U.S.Treasury Regulations, NBS will provide the following
services, at the fees quoted,through the firm of Bond Logistix, LLC("BLX"),the premiere firm for the
provision of these services. The following outlines the specific services provided relating to arbitrage
rebate calculation and consulting services.
DOCUMENT REVIEW. Pertinent documents of the issue will be reviewed including the Official
Statement,Trust Indenture,Tax Certificate, and IRS form 8038-G to determine whether the issue is
subject to the rebate requirement and identify what general and/or elective exceptions are available to
the issue.
BOND YIELD. Sources and uses of all proceeds will be identified to determine how the rebate
requirement applies to each fund. Produce a debt service schedule for the issue and calculate and/or
verify the bond yield.
EXCESS EARNINGS CALCULATION. Trust statements and/or Client accounting records will be utilized to
create a cash flow report for each fund. These reports will be used to identify all investment activity
and interest earnings attributable to the funds. Calculate the arbitrage earnings on investment of funds
subject to rebate and determine the issuer's net rebate and/or penalty liability.
INVESTMENT YIELD CALCULATION. The investment yield will be calculated for each fund as a "reality
check" to reaffirm the accuracy of the cash flow report. This measure not only ensures the accuracy of
the report but also is a useful tool when analyzing investment opportunities.
SUMMARY. A report will be prepared that summarizes the rebate liability of the issue, identifies the
methodology employed, computational assumptions,conclusions, and any recommended changes in
record keeping and investment policies. Analyze all transactions and explore every legally permissible
avenue to minimize the rebate liability. Identify outstanding proceeds subject to the rebate
requirement, and identify the instruments and yields of the investment vehicles utilized by each fund.
FILING REQUIREMENT. NBS will coordinate the preparation and filing of the IRS form 8038-T with the
payment as required.
REVIEW. NBS will review the rebate report with Client staff and discuss the policies and procedures as
they relate to the rebate requirement to ensure compliance with treasury regulations. The review will
also be used to determine the necessity of any future calculations.
APPORTIONMENTS(OPTIONAL)
Town of Tiburon
4 1915 Act AD Administration 9
Parts 10 and 10.5 of the Streets and Highways Code detail the methodology and procedure that the
Client must follow in apportioning the assessment lien on parcels that are reconfigured and/or
subdivided. With our experience in district formation and the development of methods of assessment,
we are able to ensure that apportionments are properly performed.
Assuming proceeding under the preferred procedure of Part 10.5, NBS will perform the following:
APPLICATION FORMS. NBS will provide apportionment application forms and instructions to the
Client's Engineering representative for inclusion as a condition of approval for subdivision within an
assessment district.
SEGREGATION. NBS will apportion the special assessment according to the method of spread as
described in the engineer's report.
NOTICE OF APPORTIONMENT. NBS will prepare a notice of apportionment and send it via certified mail
to the issuing underwriter, as required.
ASSESSMENT DIAGRAM. NBS will prepare an amended assessment diagram and notice. The diagram
and notice will be filed and recorded with the County Recorder.
AMORTIZATION SCHEDULE. NBS will prepare an amortization schedule for each newly created
assessment type.
APPORTIONMENT REPORT. NBS will prepare and submit to the City an Apportionment Report showing
the finalized apportionment and the amended assessment diagram.
In the event proceedings are undertaken under Part 10,the following additional items are required:
RESOLUTIONS. NBS will prepare the required resolutions to order the amended assessment,the
amended assessment diagram, notices to the property owner, and fix the amount of costs to perform
the apportionment.
PUBLIC MEETINGS. NBS will be available to attend any public meetings required to complete the
apportionment.
Town of Tiburon
1915 Act AD Administration 10
EXHIBIT B
COMPENSATION FOR SERVICES
1915 ACT AD ADMINISTRATION
AD 2017-2 Virginia Undergrounding District(22 parcels)*..................................................................$2,750
AD 2017-1 Hawthorne Undergrounding District (120 parcels)*..........................................................$4,000
Estimated Expenses per district(1).........................................................................................................$500
(*)—Billing starts for AD 2017-2 on June 1,2018 and April 1,2019 for AD 2017-1
(1)See description of expenses below
In addition, if any one-time support is needed for the debt placement/bond issuance, NBS can provide
that additional support for an agreed upon fee at that time.
CONTINUING DISCLOSURE (OPTIONAL)
AnnualReport Fee..............................................................................................................................................$TBD
Significant Event Fee...............................................................................................hourly or$250 per event
Dissemination Services
Report Dissemination (per recipient) $25
Significant Event Dissemination (per recipient)........................................................................................$25
DELINQUENCY MANAGEMENT(OPTIONAL)
ReminderLetters(1) .................................................................................................................................$15
DemandLetters (1)......................................................................................................................................30
LienholderLetters (1, 2)..............................................................................................................................40
Lienholder Research (Notice of Default Not Filed) ..............................................................................Hourly
ForeclosureLetters......................................................................................................................................50
PaymentPlan Administration ...................................................................................................................300
TaxRoll Removal (3,4)................................................................................................................................75
Removal of the Notice of Intent to Remove Delinquent Installments (4) ..................................................25
Subsequent Foreclosure Fees(4)..............................................................................................................100
All fees are based on a per parcel/per district basis, except as noted below.
1. This fee will be recovered as part of the next levy.
2. Letter is sent to lienholders where public Notice of Default has been filed. Fee reduced to$20
when sent jointly with Demand or Foreclosure Letter to same parcel.
3. This fee includes filing of the "Notice of Intent to Remove Delinquent
Installments" but does not include County fees for removal from the
tax roll.
4. This fee is per parcel/per district/per year from the initiation of the foreclosure.
Town of Tiburon
1915 Act AD Administration 11
ARBITRAGE REBATE (OPTIONAL)
BASE FEES
CommitmentFee:....................................................................................................................................$SOU
ReportFee (per report):.........................................................................................................................2,250
ADDITIONAL SERVICE FEES
Computation Periods inExcess of1OMonths (per year):............................................................ $SOO'1,000
Commingled Funds Analysis(as appropriate):.-------------------------- 50O-1,UOO
Transferred Proceeds Analysis(as approphate):........................................................................... S00-1,OOO
VariableRate Issues: ...................................................................................................................... 500-1,0}O
APPORTIONMENTS(OPTIONAL)
Apportionments will be performed upon request and paid for by the requesting party at our then
current fee structure, as shown below. NBSvviU apportion the assessment according tothe original
method of spread, prepare the amended assessment diagram, and record the notice of apportionment
and amended diagram per Parts 10 and 10.5 of the Streets and Highways Code.
PART 10.5
Apportionment Fee (Four parcels or|exx): .............................................................................................$95O
Apportionment Fee (Five ormore parce|o\:.........................................................................................$1,8U0
(plus$3Sper parcel)
Recording Fee keadlL--------------------------------------$4O
PART 1Q(IN ADDITION TO FEES SHOWN ASPART 1CL6ABOVE)
Resolutions:.............................................................................................................................................$3OO
ANNUAL FEE INCREASES
Cost of living increases may be applied to the Administration and Disclosure services listed above on
October 1each year, beginning with October 1, 20J0. The COLA would bethe actual cost ofliving
increase based on the U.S. Department of Labor, Bureau of Labor Statistics, Consumer Price Index for
all urban consumers for the Northern California counties.
EXPENSES
Customary out-of-pocket expenses will be billed to the Client at actual cost to NBS. These expenses
may include, but not be limited to, mailing fulfillment, postage, reproduction,telephone,travel, meals
and various third-party charges for data, maps, and recording fees.
ADDITIONAL SERVICES
The following table shows our current hourly rates. Additional services authorized bythe Client but not
included in the scope of services will be billed at this rate or the then applicable hourly rate.
��0��.���
Town ofTibumn
��\����0����' z9z5Act AnAdministration 12
Director $205 i
Associate Director $190
Senior Consultant/Engineer/Manager $ 160 {
3
i Consultant $140 i
Analyst € _ $120 i
I Clerical/Support € $ 95
€, ....
PERMS
Administration and Disclosure services will be invoiced at the beginning of each quarter. Expenses will
be itemized and included in the next regular invoice. Fees for all other services will be invoiced upon
completion of the task. If the project is prematurely terminated by either party, NBS shall receive
payment for work completed. Payment shall be made within 30 days of submittal of an invoice. If
payment is not received within 90 days simple interest will begin to accrue at the rate of 1.5% per
month. Either party can cancel administration contracts with 30 days written notice.
Town of Tiburon
1915 Act AD Administration 13