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EXHIBIT B - FINANCIAL ADVISORY COMPENSATION <br />For the services described, PFM's professional fees and expenses shall be paid as follows: <br />1. For services related to financial planning, policy development and financial analysis, PFM shall <br />receive hourly rates as listed below. Fees for support staff are included in the hourly rates for professionals. <br />Services will be billed monthly. <br />Experience Level Hourly Rate <br />Director/Managing Director $295 <br />Senior Managing Consultant $275 <br />Senior Analyst $225 <br />Analyst $195 <br />Associate $175 <br />2. For services related to the issuance of Bonds, PFM will be paid a fee in accordance with the <br />following schedule, based on a rate per $1,000 of financing, for each separate bond issue: <br />For financing up to $20 million: $1.50 per $1,000, with a $15,000 minimum <br />For financing up to $75 million: $30,000 plus $0.75 per $1,000 over $20 million <br />Reimbursable Expenses <br />In addition to fees for services, PFM will be reimbursed for necessary, reasonable, and documented out- <br />of-pocket expenses incurred, including travel, telephone conferencing service, overnight mail, and other <br />ordinary cost and any actual extraordinary cost for graphics, and printing which are incurred by PFM. <br />Appropriate documentation will be provided. <br />Other PFM Services <br />Other PFM Services described in Exhibit A will be subject to separate, mutually acceptable fee <br />structures and may require a separate contract with PFM or its affiliates. <br />Official Statements. The Advisor will coordinate and prepare bond official statements, with <br />compensation based on an additional fee which will depend on the estimated time involved in preparation of <br />the official statement. This cost is estimated at approximately $7,500 to $8,500, depending on complexity of <br />the transaction. Although the Advisor may prepare official statements, the City is primarily responsible for <br />the providing accurate and complete information for inclusion in the official statement, and will be <br />responsible for reviewing the official statement. <br />CA Revised 1.2013 Page 8 of 9 <br />46 <br />