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<br />15 <br /> <br />TUESDAY <br /> <br />MARCH 28. 1967 <br /> <br />",- <br /> <br />Corporation by J. A. Gustin & Associates under date of March 10, 1967. <br /> <br />In connection with the forthcoming offering for sale of the City's authorized <br /> <br />bonds and in connection with pertinent financial matters, Council unanimously <br /> <br />accepted the following proposal and offer of Wheat & Company, Inc., Richmond, <br /> <br />Virginia, to serve as the City's financial advisor and to assist the City <br /> <br />in the marketing of its bonds, for the period April 1, 1967 through December <br /> <br />31, 1967: <br /> <br />J. C. Wheat & Company agrees as follows: <br /> <br />1. We will act as your advisors on all financial and marketing <br />matters relating to the issuance and sale of municipal bonds. We <br />will be at your call for all matters pertaining to our specialty <br />throughout the year. <br /> <br />2. We will use our best efforts to obtain the highest possible <br />rating for the City from Moody1s Investors Service and Standard <br />& Poor's Corporation. <br /> <br />3. We will use our best efforts to stimulate interest in any bonds <br />that may be sold by preparing, assembling, editing and distributing <br />to underwriters and potential buyers, general information and <br />financial data about the City of Martinsville. <br /> <br />The City of Martinsville agrees as follows: <br /> <br />1. You will keep us fully informed on all matters relating to the <br />financial condition of the City and relating especially to any <br />proposed bond issue. <br /> <br />2. For our services as outlined above you will compensate us as <br />follows: <br /> <br />You will pay us an advisors' fee of $2 per $1,000 bond for <br />the first $2,000,000 bonds sold and $1 per $1,000 bond for <br />all bonds in excess of the first $2,000,000 sold, such fee <br />to be paid upon delivery of any bonds that may be sold. <br /> <br />3. You will pay all costs incident to the marketing of any bonds, <br />including legal fees, notice of the issue, printing the bonds and <br />and the cost of preparing and distributing general information and <br />financial data about the City of Martinsville. We will assume our <br />personal expenses such as transportation and hotel charges incident <br />to our duties as your financial advisors. <br />