Request approval to contract for Financial Advisory services for the issuance of certificates, bonds and other log-term debt instruments.

Approve contract to implement an Agreement between the Clay County School Board and Ford & Associates, Inc.

The fees’ based on the following schedule:

            $.95/$1,000     for the first                    $25,000,000

            $.80/$1,000     for the amount over       $25,000,000

            $.60/$1,000     for the amount over       $60,000,000

Fees subject to minimum fee of $20,000 per bond issue, plus out-of-pocket not-to-exceed $3,500.00.

For short-term debt, a fee of $6,500 per issue plus expenses not to exceed $1,500.00. For investment of Bond Proceeds and/or other construction monies a fee not to exceed 5 basis points per annum on the par amount of the investment, or such lesser fees as may be dictated by U.S. Treasury regulation.

Dr. George F. Copeland, C.P.A., Assistant Superintendent for Business Affairs

Data Source: Nancy Racine, Director of Purchasing, Accounts Payable and Materials Management