Township Council Meeting — Packet

(b) Any and all work performed pursuant to this Agreement shall be performed to acceptable practices, and standards within the industry and to the satisfaction of the Township. 2. CONSIDERATION The Township shall compensate the Professional as follows for issuance of debt: • Bond Issuance: $9,500.00 plus $0.50 per $1,000.00 issued (minimum of $13,500) • Note Issuance: $1,000.00 plus $0.25 per $1,000.00 issued (An additional fee of $2,000.00 applies when notes are sold with a Preliminary Official Statement) Hourly rates for specialized consulting services not related to the issuance of debt, billable quarterly in arrears: • Managing Director $195.00/hour • Associate/Analyst $145.00/hour 3. PAYMENT Payment shall be made by the Township within thirty (30) days of the receipt and approval of itemized bills and vouchers. No payments may be made in advance of services pursuant to N.J.S.A. 40A:5-16. 4. NOT-TO EXCEED AMOUNT Total compensation under this Agreement shall not exceed $75,000.00 (the “Not-toExceed Amount”) without a further written encumbrance and additional authorization by resolution of the Township Council. 5. TERM The term of this agreement shall be from January 1, 2026, through December 31, 2026, unless earlier terminated in accordance with the provisions set forth in Section 16, below. 2