HomeMy WebLinkAboutPSA - Crowe Horwath LLP - Eddy St. Phase IIr? r� 'I'� -. - .. -.-�
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STATEMENT OF WORK
to that certain Master Services Agreement dated as of July 1, 2016
Between the City of South Bend, Indiana ("City" or "Client")
and Crowe Horwath LLP ("Crowe")
Taxable Economic Development Revenue Bonds, Series 2017 (Continued)
Assumptions/Client Responsibilities
Client will provide financial data as requested by a data request.
Ill. Management Representative
James Mueller,.Executive Director
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IV. Fees and Expenses
The total fee for this project is a fixed fee of $50,000 plus out-of-pocket expenses. Services
requested which are outside the scope of services listed herein will be described and quoted
separately.
Should there be any problems or unforeseen circumstances, we will notify the City's management
and come to a mutual understanding of whether any additional fees will be involved before
continuing. Crowe will be acting in an individual capacity while performing services for the City and
will not, unless otherwise indicated, be acting as agents, employees, partners, joint ventures or
associates of the City.
Out-of-pocket expenses paid by Crowe are billed to the client at cost. These expenses generally
include, but are not limited to, communication, printing (including printing of the Official Statement),
binding, electronic marketing, electronic bidding expense, evaluation software and travel expenses
incurred on behalf of the City.
Should the project terminate prior to the issuance of the Bonds, we will invoice the City for the time
and out-of-pocket expenses through the date of project termination. Otherwise, our fees can be paid
from Bond proceeds at closing.
Invoices that are not paid within 30 days of receipt are subject to a monthly interest charge of one
percent (1.0%) per month or the highest interest rate allowed by law, whichever is less, which we may
elect to waive at our sole discretion, plus costs of collection including reasonable attorneys' fees.
V. Crowe Horwath Subcontractors to be used to complete Services
Crowe Horwath LLP will not be using any subcontractors.
VI. Disclosure of Conflicts of Interest and Other Information
Pursuant to MSRB Rule G-42, if any known material conflicts of interest based on the exercise of
reasonable diligence by Crowe are determined, Crowe will provide a written statement to the City to
that effect. As of the date of this SOW, Crowe is not aware of any material conflicts of interest.
The firm is "nationally recognized" in matters relating to tax-exempt bond issues and has experience
in advising governmental issuers on the financial aspects involved with the issuance of tax-exempt
bonds. The firm is registered with the Municipal Securities Rulemaking Board and the Securities and
Exchange Commission (SEC) as a Municipal Advisor.
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