Florida Governmental Ut¡lity Authority - FGUA

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2. Prepare a historical operating results analysis and debt compliance evaluation for ail years of Consolidated System ownership by the FGUA (Fiscal Years 2010 fpartial year] and 2011, which will require completion of the Comprehensive Annual Financial Report for such Fiscal Year). 3. Evaluate the Consolidated System revenue requirements on a stand-alone basis and the sufficiency of the rate revenues to meet such requirements to determine the amount of rate adjustment needed to support the issuance of permanent debt for the system; the Mad Hatter System rates should not support the needed increase in Consolidated System rates as a result of the permanent fìnancing. This will also require tlle attendance of meetings with the System Manager and the FGUA acquisition team to discuss results and develop financing strategies. 4. Attend i) a customer meeting to present the rates to affected ratepayers (separate meeting from the Mad Hatter customer meeting) and ii) the FGUA Board public meeting for the presentation of the recommended Rate Resolution. PRMG will assist the System Manager in the preparation of such resolution (physical preparation will be responsibility of the System Manager, PRMG will review resolution language and rate descriptions and provide input to such language). 5. Provide the Consolidated System disclosure in the bond feasibility reporl in same detail as the Mad Hatter System and develop combined financial operation statements since the two systems will be considered as a single enterprise fund for accounting, operation, management, and rate covenant compliance (materially increases the complexity of preparation of the bond feasibility report). B. Project Cost for Amendment No. I Based on the scope of services required to issue permanent fìnancing for the Consolidated System, which is planned to be a part of the bond financing for the Mad Hatter System acquisition, the contract budget for Amendment No.PRMGIl-01 is $18,500; reference AttachmentA for billing rates. This request by the FGUA for additional services to be performed by PRMG represents the first amendment to Work Authorization No. PRMG I I -01 . A summary of the current and amended contract budget is summarized below: Initial Contract Amount - PRMGI l-01 Amendment No. I Total Adjusted Contract Amount Amount $90,000 18.500 $l_r8J00 AII work performed by PRMG pursuant to this Work Authorization will be "at risk" and the total contract amount attributed to the Mad Hatter System ($90,000) will only be paid upon a successful acquisition of the Mad Hatter System, including the issuance of bonds, by the FGUA. The Amendment No. I portion ($18,500) of the Work Authorization should be paid only upon successful completion of a consolidated refinancing transaction. To the K:\DC\l 109-45\Coresp\Work Auth I l-01 siù, Anendmenl I (Fina.l) .\
extent that a refinancing for only the existing consolidated System is to occur, the parlies agree to renegotiate the amount of service-s to be paid for the financial analyses and pieparation of tne bond feasibility report relative to such financing' C. Schedule Time of completion estimated to complete the bond feasibility report shall be on or about April 30, 20\2 andis dependent on thã availabiliry of information provided by the FGUA and the overall financinþ schedule associated wiih ttre issuance of utility revenue bonds insupportoftheacquisit-ionoftheMadHatterSystembytheFGUA. D. NoticelProject Manager of Consultant TheprojectmanagerforPRMGwillbeRobertJ.Ori,President,andallnoticesand correspondence shall be addressed to Robert J' Ori' fu'4-Ð.,^- Consultant Name: Robert J. Ori, President PRMG Address: 341 N. Maitland Ave' Suite 300 Maitland, FL 32751 FGUA Name: Lea Ann Thomas, Chair Ceftification that Sufficient Funds are Available: David Dilena, CPA Chief Financial Officer John Pelham General Counsel Dated this - day of -,2012' Kì\DC\I lo9-45\Coñesp\Work Aulh I l-01 Ñlh Amendment I (Final) -3 -
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Florida Governmental Ut¡lity Authority - FGUA

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