SECOND AMENDMENT TO
MASTER PROFESSIONAL CONSULTANT SERVICES AGREEMENT
CSG ADVISORS INCORPORATED
Financial Advisory Services Panel (RFP No. 1757)
This SECOND AMENDMENT TO MASTER PROFESSIONAL CONSULTANT SERVICES AGREEMENT ("Second Amendment"), is made and entered into this 24 thday of May, 2022 ("Effective Date"), by and between the CITY OF RIVERSIDE, a California charter city and municipal corporation ("City"), and CSG ADVISORS INCORPORATED, a Delaware corporation authorized to do business in California (Consultant"), at One Post Street, Suite 575, San Francisco, CA 94104, in accordance with the following facts:
RECITALS
WHEREAS, the City and Consultant entered into a Master Professional Consultant Services Agreement for Financial Advisory Services Panel (RFP No. 1757), on or about June 5, 2018 ("Master Agreement"); and
WHEREAS, the City and Consultant entered into a First Amendment to Master Professional Consultant Services Agreement on or about May 13, 2021 ("First Amendment"); and WHEREAS, the City desires to have Consultant continue providing the services referenced in that Master Agreement; and
WHEREAS, the City and Consultant desire to amend the Master Agreement to extend the term of the Agreement for one additional year, to end June 30, 2023.
NOW, THEREFORE, in consideration of the foregoing recitals, which are incorporated herein to the Master Agreement, the parties hereto mutually agree to the following:
1. • Section 2, "Term," is hereby amended to extend the term of the Master Agreement for one additional year, to end June 30, 2023.
3. Section 3, "Compensation/Payment," is hereby amended to include the attached Exhibit B-2 which includes the rates for Year 5 beginning on July 1, 2022 (Fiscal Year 2022- 2023).
1 All other terms and conditions of the Master Agreement and First Amendment between the parties which are not inconsistent with the terms of this Second Amendment shall remain in full force and effect as if fully set forth herein.
IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to Master Professional Consultant Services Agreement to be duly executed the day and year first above written.
CITY OF RIVERSIDE, CSG ADVISORS INCORPORATED,
a California charter city and municipal a Delaware corporation authorized to do corporatio business in California
By: By:
City Manager Its: President
AND
Attest:
Donesia Gause By:_(
City Clerk Its: Secretary
Certified as to Availability of Funds:
By:
Chief Figancial Officer
Approved as to Form:
By:_
Sonior Deputy City Attorney
18-0389.2 RBK 3/24/2022
EXHIBIT B-2
COMPENSATION/PAYMENT
1. Consulting Work Not Directly Applicable to a Bond Transaction. CSG will typically agree with City staff, most often in writing, whether particular work would be done hourly or at a negotiated fixed cost. This typically depends on whether on-going consultation of a particular matter will require significant time commitment, technical analysis, memorandum, or specialized work product. In such cases, we typically confirm negotiated cost arrangements with City staff in writing with a fee letter containing a scope of work or an agreement that is less formal if deemed appropriate by City staff. In some cases, when a particular financing is pending or expected, compensation for such additional work may be paid from bond proceeds, but this is usually determined on a case-by-case basis. Hourly fees for CSG personnel are as follows:
Title CSG Personnel Hourly Rate
Chairman Gene Slater $325
Principal Scott Smith $300
Vice President As needed $275
Senior Associate As needed $200
Administrative As needed $70
CSG's rates are adjusted upward 3% annually at the beginning of each calendar year beginning January 1, 2022.
[CONTINUED ON FOLLOWING PAGE.J
•
2. Bond Transaction Work. CSG would work on a contingent fixed fee schedule for each series of bonds for the following types of bond financings once the City has decided on a particular plan of finance. CSG does not track hours for fixed fee assignments. CSG does not charge for follow-up administrative support post-bond issuance. The fee schedule below Financing Type Bond Size Fees*
Tax Allocation Bonds, Under $10 million $22,500
Utility Revenue, Lease | $10 million to under $20 million $28,500 Revenue Bonds and $20 million to under $30 million $34,500 Certificates of $30 million to under $40million $39,500 Participation: $40 million to under $50 million $42,500 Above $50 million To be negotiated
Assessment or Facily distic payabi at formationy miy
Community Facility $10-15,000*
Districts:
Plus: by issue size (payable at bond closing):
$24,500
$10 million to under $25 million $30,500
$25 million to under $35 million $35,500
$35 million to under $50 million $41,500
Above $50 million To be negotiated
* Assumes formation is completed within one
year of initiation of work. Beyond one year,
Competitive Sale Additional $7,500-12,000 if bonds are sold competitively depending on bond size and complexity.
3. Expenses. CSG would be reimbursed for transportation, meals, lodging, messenger delivery, long-distance telephone and fax, and document production and reproduction at cost.