Legal Documents of Dandridge

As needed, the town may select professionals to assist in its debt issuance and administration processes. In selecting professionals, consideration should be given with respect to:

1. Relevant experience with municipal government issuers and the public sector;
2. Indication that the firm has a broadly based background and is therefore capable of balancing the town's overall needs for continuity and innovation in capital planning and debt financing;
3. Experience and demonstrated success as indicated by its experience;
4. The firm's professional reputation;
5. Professional qualifications and experience of principal employees; and

6. The estimated costs, but price should not be the sole determining factor.

   The town shall require all professionals engaged in the process of issuing debt to clearly disclose all compensation and consideration received related to services provided in the debt issuance process by both the town and the lender or conduit issuer, if any. This includes "soft" costs or compensations in lieu of direct payments.

7. Counsel. The town shall enter into an engagement letter agreement with each lawyer or law firm representing the town in a debt transaction. No engagement letter is required for any lawyer who is an employee of the town or lawyer or law firm which is under a general appointment or contract to serve as counsel to the town. The town does not need an engagement letter with counsel not representing the town, such as underwriters' counsel.
8. Financial advisor. The town shall enter into a written agreement with each person or firm serving as financial advisor for debt management and transactions. (Ord. #11/12-08, Nov. 2011)