Disclosures Concerning the Underwriters’ Compensation. The underwriters will be compensated by a fee and/or an underwriting discount that will be set forth in the certificate purchase agreement to be negotiated and entered into in connection with the issuance of the COPs. Payment or receipt of the underwriting fee or discount will be contingent on the closing of the transaction and the amount of the fee or discount may be based, in whole or in part, on a percentage of the principal amount of the COPs. While this form of compensation is customary in the municipal securities market, it presents a conflict of interest since the underwriters may have an incentive to 2 When we refer to potential material conflicts throughout this letter, we refer to ones that are reasonably likely to mature into actual material conflicts during the course of the transaction, which is the standard required by MSRB Rule G-17. 3 Under federal securities law, an issuer of securities has the primary responsibility for disclosure to investors. The review of the official statement by the underwriters is solely for purposes of satisfying the underwriters’ obligations under the federal securities laws and such review should not be construed by an issuer as a guarantee of the accuracy or completeness of the information in the official statement. recommend to the Issuer a transaction that is unnecessary or to recommend that the size of the transaction be larger than is necessary.
Disclosures Concerning the Underwriters’ Compensation. The underwriters will be compensated by a fee and/or an underwriting discount that will be set forth in the bond purchase agreement to be negotiated and entered into in connection with the issuance of any municipal securities. Payment or receipt of the underwriting fee or discount will be contingent on the closing of the transaction and the amount of the fee or discount may be based, in whole or in part, on a percentage of the principal amount of the municipal securities. While this form of compensation is customary in the municipal securities market, it presents a conflict of interest since the underwriters may have an incentive to recommend to the School District a transaction that is unnecessary or to recommend that the size of the transaction be larger than is necessary.
Disclosures Concerning the Underwriters’ Compensation. The underwriters will be compensated by a fee and/or an underwriting discount that will be set forth in the bond purchase agreement to be negotiated and entered into in connection with the issuance of any municipal securities. Payment or receipt of the underwriting fee or discount will be contingent on the closing of the transaction and the amount of the fee or discount may be based, in whole or in part, on a percentage of the principal amount of the municipal securities. While this form of compensation is customary in the municipal securities market, it presents a conflict of interest since the underwriters may have an incentive to recommend to the County a transaction that is unnecessary or to recommend that the size of the transaction be larger than is necessary. WODA XXXXXX COMPANIES, INC. CONTRACT AND GROUND LEASE FOLLOW MEMORANDUM OF AGREEMENT DARE COUNTY This Memorandum of Agreement (“MOA”) is entered into by and between Dare County (“County”) and Woda Xxxxxx Companies, Inc. (“WCC”), and is effective on the date it is executed by the County (the “Effective Date”) in order to memorialize certain understandings and agreements between the County and WCC (each a “Party” and collectively the “Parties”) with respect to the development, construction, and operation of not less than 100 units of affordable housing in Dare County (the “Development”).
