HomeMy WebLinkAboutTHOMSON MCKINNONSECURITIES, INC - 1985-01-27 r
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AN AWw"WWC#� WMa10 TYU CITY or EEG ON Spa► W
PaR a. 11003130,
THIES AGREEM ' is Made and eixtered into this �_ day
of , 198.r , by and between the CITY OF
HUNTINOT011 SUCH, a municipal corporation of the State of
California, hereinafter referred to as "CITY, " and the firm of
THOKSON MCKINNON SECURITIES, INC. , a Delaware corporation,
hereinafter referred to an "THOMSON. "
in order to implement the financing and structuring of the
Multi-Family HouEing Revenue Song programs, hereinafter referred
to as "PROGRAM, " the CITY requires the advice and assistance of
en investment banking service, including, but not limited to,
underwriting rerviees ; and
The CITY has determined that THOMSON is qualified by
training rind experience to perform the investment banking and
underwriting services, and THOMSON is willing to provid:.- such
investrenL banking and, underwriting services ; and
The public inrereat, economy and general welfare will be
served by this Agreement;
NOW$ THERSFOPX, it is agr?ed by CITY and THOMSON as
f o].1t�r tr
1. DUTIES OF THOMSON
THORkV shall do, carry out and perform all of the
foiiowi.ng Invastment banking servicea, including, but not
I invited to, performing u1nde�.rwriting services, in connection with
the PROORAM, as follows :
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a) Performance_ of Underwriting _Services
The PROGRAM shall require capital
financing, including, but not limited to,. those requiring the
issuance of tax-exempt securities by the CITY, THOMSON will aid
in the implementation of the PROGRAM by performing the function
of managing underwriter in the issuance of multi-family housing
revenue bonds to service the residents of the City of Huntington
Beach.
Lid Consultations and Meetings with CITY
THOMSON shall be available to the CITY for
advice and consultation with regard to the developing of policy,
progra T.a or procedures to implozent any housing programs the
CITY wishes to purave. Additionally, upon reasonable notice,
THOMSON agrees to att::nd any meetinga at the request of CITY, in
the City of Huntington Beach,, or elsewhere as directed, with
respect to the CITY' S revenn6 bond programs .
c] Investigations anti Studies
THOMSON agrees 4o work with CITY, its staff,
legal counsel, bond counsel, the Developer and other officexs,
agents or employees as appropriate in order to mare
inwesti.gat,.ona and studies rz'ating to the f i.nanci.nq of
PROJECwL'. The respective investigations and studiev are to
provide information that will an ist in the marketing and
placement of the PROGRAM bonds and ,shall includes
1. A thorouq,h revi.ew of the lagal basis and
proposed means of undertaking the financing.
2 .
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2. walu ation of alternative methods for
achieving the housing goals of CITY.
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3, aseview of studies an . to the economic
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background of CITY as it may relate to any
specified financing or to the PROGRAM in
general.
4. Ratimates of financial and related expenses.
S. Review and analysis of any other pertinent
studies as they may affect the PROGRAM.
d) Securities issuance Requirements
THOMSON working together with CITY, its statffr
legal counsel, bond counsolr the Developer and other appropriate
officers, agents or employees , will coordinate the activities
leading to the issuance of securities including the followings
1. Aesist bond counsel in the prLeps.ration of
any financing documents including
indentures, p�.edge and assignment
agreements and other financing agreements
and documents.
2. Assist in the preparation of preliminary
and final official statements for the
marketing of any securities .
3 . Review t► a farm of the securities to bo
printed.
3 .
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{ 4. Assist in the pee►paration of the required
lihsncial schedules to assurer a sound basis
for the financing, such as debt s6rrvice
wequi.r*mrents and cash flow analy*is.
S, . Arrange for • and assure -investments #or the
securities prccieds that .insure feasibility
and liquidity.
G. Anti*t in the p_ eparatf on of the
..application for and presentation to the
appropriate bond rating agencies in a
manner to achieve the beet possible
securities rating for the securities.
2 . MARKETING OF THE SECURITIES
11MOM$ON shall arrange for pre-sale presentations of
the proposed securities to institutional investors, mutual
funds, bank:, prospectiv6 associated underwriters, band dealerL
and rating agencies to develop a national interest and
understanding of the proposed securities. When determined
appropriate, THOMSON will arrange zeecings with specific:
potential investors in the secvri•ties and arrange for site
visits, sooting* with CITY official and other efforts to
effectuate tte placement of all aRcurities with these
Investors. When determined subject to the teams of a mutually
satisfactory definitive purchase agreement and after receiving
ar investment grade rating (S&P - HHb Or Mx4y' s Ras) and
approval by THOMSON' S Buy Otai ttee, IMOM809 i as managing
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1'°�' '` .. : .�F±' e• •yew
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erwriteawr will agree to purchase all the bonds as principal
&W will prepare sales points memoranda Which detail the salient
features of they securities ' for distribution to all THOMSON
branch offices avid to all meauberi-. of tha underwriting syndicaio
to be formed for the sale of the securities. Additionally, as
aranagirg underwriter, THOMSON may conduct pro-sale meetings in
the State of Now York, the City of Huntington Beach, and other
locations as may be deemed appropriate to stimulate investor
intarearst in the securities and to assure the broadest possible
distribution of the securities.
THOMSON shall be responsible for coorlinaxtinq
meetings with and presentations to the major securities rating
agencies in order to obtain the best possible credit rating for
the securities and tbx3s, assure a lower Coal of financing to tha
CITY.
3 . SALE OF SECURITIES
After pre-sale marketing efforts are complete,
THW4SON will work with the CITY to determine the most effective
method of coupleting the financing at the beat interest: cost to
the CITY; and THOMSON will :
a) Based upon an evaluation of market conditions,
recommend the appropriate time for the marketing
of securities .
b) Advises as to the type c.f structure that will be
best accepted by the market with respect to
maturities, redemption features, couponing and
re-offering pricers .
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a) Assist in the drafting of the appropriate public
f . ,
notice* for the sale of the Securities in
con junation with the CITY and its counsel.
d3 Coordinate, at the request of CITY, s curiti+es
printing, prospectus printing, securities
signing, appointment of the Trustee, preparation
and signing of the purchase contract, closing
arrangements and delivery of the securities.
e) Prepare the purchase contract to be used in the
sale of securities.
4. MODIFICATION AND AMENDMENT OF AGREEMENT
This Agreement may be modified, altered or amended
only by mutual written agreement between the CITY and THOMSON.
S. OPTTON TO RENEW
CITY at its sole option may elect '•o renew this
Agreement through the ending date of this Agreement, upon: the
conditions herein contained, by ?written notice to THOMSON, prior
to the ending date of this Agreement .
6. PERIOD OF AGIZ EMENT
This Agreement is fear a period of two (2) yews
commencing with the date herein, and ending two (2 ) years
following such date herein contained, excepting the election of
the options provided for under Sections 5 and 11 herein.
7. COMMATIOR
rot the serviceti THOMSON shall render as contained in
this Agreement, THOHBOU shall be considered fully paid hereunder
6.
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upon the payment to THOMSON of the agreed upon underwriting
opcoad which shall be paid only if TH0148M act• as managing
lssdeX*Vit*r. eased -upon current market conditions, we would
osti*at& our underwriting discount to be in the range of
two-to-three percent (2-3%) of the issues size assuming a bond
rating of "A" or better froiu one or more of the National bond
rating services. Shall be agreed to in the Purchase Agreement,
but, shall not exceed three percent ( 3%) of the Tissue.
B. ORLIGATT058 OF CITY
CITY shall provide THOMSON with copies of pertinent
documents within its control without charge and shall marste CITY
employees available to assist THOMSON in rendering of its
services .
9. PRIOR AUTHORIZATION
THOMSON, In performing the servicez U ssted in
Secs ions 1, 2 and 3 of this Agreerent, shall work unc'er the
direction and control of the CITY, and shall not render any
additional zervices than those specified in this Agreement
J,. without ',be advance concurrence of thfi CITY.
10. INDEPENDENT CONTRACTOR
It is further un6ersgtood and agreed that TH071SON is,
and shall be, acting at all tines as an independent contractor
herein and not as employees of CITY. THOMSON shall iiecure at
their expense, and be ressporiaible for any and ail te,ayment of
taws* tax, social s: purity, state disahili+::� insurance
penration, Unemployment ^ompenivat:on and pay&ol.l deluctions
for THOMSON ' S officers, agents and employees and all businasa
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licenses, ff atiy, in connection sfitb the services to be
perform d hereunder.
11 . CANCELLATION OF AGRZZMM
This Agreement may be terminated by CITY without
cause upon, the giving of thirty (30) days notice in writing to
THOMSON. Upon such cancellation all files and documents shall
"become the pr+Werty or' CITTY. Upon any termination ,such files
and coduments shall be delivered to CITY.
12 . INDSMIPICATION, DLR SE AND HOLD HARMLESS
THOMSON rshall defend, indemnify and held harmless
CITY, its officers, agents and employees, from and against any
and all liability, judgments, damages, costs, losses, claims,
including Workers ' Compensation claims, and expenses resulting
from or connected with THOMSON' negligence or other tortious
conduct in the performance of this Agreement .
13 . WO KS ' COMPENSATION
THOMSON shall comply with all of the provisions of
the Workers ' Compensation Insurance and Safety Acts of the State
of california, the applicable provisions of Divisions 4 and 5 of
the California Labor Code and all amendments thereto; and all
similar state or federal acts or laws applicable; and shell
irAoxni fy, defend and hold harmless CITY from and r.gai.nst all
claims, denaads, payments, suite, actions, proceedings and
judgments of every nature and description, Including attorneys '
fees and casts, presented, brought or recovered against CITY,
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ice` r on acco�lni: ,of any �.ia"liability under. any of said acts which
Say be incurr*4 by reason of euy work to be performed by TH014 SON
I %mdler this Agreement.
IN WIT-US$ 1d RROV► , the partl an hereto have caused these
presentnt to be signad by their duly authorized officers as of
the day, month and: year first above written*
:. . THOMSON MCKINNON# INC. , CITY OFF 1E U 'TINCTON REACH,
A Dal a co ration a municipal corporation
o n C. Aut , - �•I -
A!a a ing Director ayor
t• By �.
Berns A--President
'.
V e-Prereident
ATTEST: APPROVED AS TO FORM:
Ry t
City Clerk for City A torn
REVIE AND APPRO Dr I�ITIATED AND APPR ED:
CIty A n. etra or Deputy Director
.if Redevelopment
Ajp s mf
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�6' .'.' IiftlPMrsrllyertitlwlRrw: 0ITIFICATE OF INSU9, PACE ' Approved as so Furs/:
*ej ifill won in a.� is" TC7 Mail llvttol/, City Attorlrlty
�' (y ��..IInI+R�'ISfi
"' f• CITY OF HUNTINGTON BEACH. CALIFORNIA
` Mtwrliird re EwrrW CA'MME fir: ;
` to IMsM Mwmllprr" ' "#"'1 A MUNICIPAL CORPORATION
Tlli1 N 10 awlft ow the pllioiaa of itmeosae t: w:;sW below hlw11 L"n iawad to**inwfW by ft UtWW i*wW and an in two
*W 11 *A" poArliae tern Ws"" car dnrrgrrl in wlah a w~*m w411 effm this aertirirats,vile limran"wnpoy"pea
Mr /0 A* pr* rllwj"m IsaMtin, by nw,to( ty of Hwnf'inpw Bomb F. O. Son 711,rointimpon Soo h, WiforrI4 SMIr". ALL
10M Ii11 W, aE COWLITED, ANY OCLETION ON CHANGE IN THIS FORM 914ALL BE AIGNIED AND DATED BY AN
' A111T1+11 RIZII P 11I6PHEWNTATIVE OF TM INJURANCE COMPANY AND MIST BE AMIROVEP 1 THE CITY
t`r AT TORIMII:Y.
} i11Mre 41 Islwred �hawsaazY llt:Ki»nn Securities, Inc.
Adult o lei Intel t!tf It Mt"cl Fla sc ..stay Yo:: Ng% York
LMIa1fI l"of%Wk or OWedow to be periloMW �R.. ._,.,.
of 0"ft opnakm
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POLICY DATES LIMITS OF LIAOILITY NAME OF COMKOYY
POLICIES"0 POWE FOLiCY NO. 11"ective Expiration In ThouMnds 10001 11NS.)
timillAt. LIABILITY
r
l 1 CO&O"CMENSIve FORM ��,......�.� CSL
I &*Kfi IISE5-OPERATIONS Each Occuranse
t r EXPLOSION AND
COI-LAM 04AswRD
! ( UNDERGROUND HAIAND (SEE A'I"S,'ACH D)
I I FRODUCT:4 COMPL.KTED
OPERAtIONS HAZARD
1 ! CCWTOI ACTUAL
114SURANCEi
I SADAOFOAM
PROPERTY DAMAGE
! i IhIdEPifNdENT
CONTRACTOkS
( 1 PERSONAL INJURY
AUTOMMII E LIABILITY
1 I COMPREHENSIVE FORM
i I owNED CSL
I HIRED
Each Occurance
{ { NON-OWNED
EXCESS ', •ABILITY
1 i UMBRELLA FOR'-
OTHER THAN #
UMBRELLA FOPM
WORKERS COMFEmSAYION '
aril
(SEE ATTAC D)
EMPI.01ERS' LIABILITY �.1 1 `' a �; •�'; (M 1 ! i l ! �l C"' �r;l
Additional Insured Endarnmenu:
The insurer agrees that the City of Huntington B"ch and its City Council, and/or all City Council &ppc4nted groups, committees,
eommiss:ans, boards and .+.ny other City Council appointed body,and/or elective and appointive officers,servants or employees of the
City of Huntington Beach, when acting as such ale additional insureds hereunder,for the acts of the insurod,and such insurance snail
be primary to any insuranwe o.`the City of Huntington Beach,as their irtwest may appear.
Date ..__. ,--- AUTHORIZED REPRESENTATIVE:OF INSURANCE COMPANY
1"UFANCE Ct r!:v
Nine Addrews .�.. �.. ..�� �.
Addr m _
City Ckv
Telephone
HOLD KARMLESS AGREEMENT
(tp be oxrauted by Insured)
The irm"W i„ ; Weas to protect, drirnd, It damnify, sari, and hold harrNvu the City of liuntin,Aon 43wh its
officers, ape m, and ar+ployws Mpinri any liability, lass, do", cost, or expenaa by reason of any and all liability, sui+.r, claims,
tkmanus, jw*wnts and causes of action y inwrod, his rrnpioyees, agents or any subcontrltctor or by any third llarty .yrWng
out of or it conuquance of th• nerfocma f I �r,rFt rations or activity for which this Cartificete of insurance is furnished.
V) Soh Pr,vriwoftmp . 121 P'erttl wd P 1A Jon ( (state) r ...�,
HOLD HARMLESS SIGNED: ny 1
(AN nrwm"be Iwir,ted eM ty-W ay 1"W" ; JohrL A itli
►weer eawti Mrs I44.) -'
If Corpmatk,i, TWO Otikers Faust sign, or prasrrlt viklence carf a'�Ithorizeflon to bind C�Ir Y
�, poi.'3'iOn. .
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IW.NEW VOW KAZA NEW VOW,N Y. rA'X)A ?�482- 3M
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Februlry 1, 1985
Mr . Btc,�;)hen V. Kohler
Sbnior Community Development Specialist
City o:* Huntington Beach
2000 Main Street
P.O. Box 190
Huntington Beach, California 92648
Dear Mr. Kohler,
This letter serves as confirmation that John C. Auth is a
senior officer of Thomson McKinnon Securities Inc . As a 3enior
officer, he is authorized to commit the firm' s capital to underwriti�
tax-exempt bonds and to commit the firm to serve in t1he capacity
of remarketing agent. _
�I ry/tru Y Yours-V
IC..L �
ge Mahon
D,•e�...,i L
Senior ice LdEii,_
nbe�'of the Board 'of Directors -. .
EEM./df
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RENCNAEhI MIUTUr�.l. CASUALTY C MPANV
A ERICAN 1�rOTORiSTS► INSURANCE COMPANY �p�p
ltKM MANUFACTURERS MUTUAL INSURANCE COMPANY �
FERAL. KEMP ER INSURANCE COMPANY
;. WORKMEN'S COMPENSATNON AND EMPLOYERS' LIABILITY POLICY mon-assessable
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CO1�'1�'ANY' t` , ' • : entitied to vote.either•3ir won ; by.proxy a+:any and all
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t The eomipa" arwea vAth thu husm4 named In the &&trades tnttodtt a part Itertwa,(, irl consideration of tit* psyrnent 0 the ptesnlum
shard io tWhw oft upon doe stint!' iomis Vt the declarations and subjecll to this limits of liability, eaclsusimis, catditkinto and other tetnns t►f s
Hiles vWxy:
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lr4StlttlNC ACUEEMEM
L Csm tip A—WarttnoWs ta:) tray all expenses itKtttred by Cite comtasnr, all cents faxed
w wcairtKt site insuretd is any such ptuceeding or suit attd all interest
To {ray promptly Mitt due all eompetttwtlolt and other Iacfit:►sls accruing after entry of judgment until the catatatirty lids Paid or
regtdrrd 4 Ilse k9lorrol by the worlomen's totropeasation law. Ictiticred car detstisioed lot snags such part t:f such juvttrrsent as dues
B+»>IttssphaiJldrs' Lllabfltly tint e.tMd the li:tit of the cnnrpany's liability therms;COWWAW i
(d) reimburstr the Insured for ali reasonable ertpenfics, odhcr ►
To pay on behalf of Use insurrd all sst:taa which the isisurerl than loss of cariihogq, incurred at th! conilaany's request.
shall lonome lettally oWitfated to lvty as damages Wca►ttte of Npilily
injury by accident ter disease, resultilix '*:'lie antuunis incurred under this insuring ak•ecawnt, txccVt
irtclt�tdiftg death at any finer _
therefrom, settic.tntnts of claims and suits, sire payable by the Company in
(a) sustained in fifty Uniteil States of America, its territrries or addifiran to lire aritotantn payable under coverage A or Ilse appli-
trttasttesskatos. eat Canada by any employee of the• iiisurtwd arising Slut rabic limit of Iiahiiity under coverage II.
of and in the course of*Isis emrloymcmt by file insare:t either in 111. Definitions
iiswealings in a slate designatled fit Item 3 trf flit Plrclanilitiotx nr'itu
t4wralkints neeenary or intitlentat thereto, t•r (a) Work""n'ss C"Pensation Law.Tits unrjualified term "work•
(bl sustained rvlaile lcrtotrtxarily t•ruttiirlt IIle t'ttitt•rl Stall., (►f rnett's compelism; is law" means Ilse workmen s corn -•ensation lay.
Atnerica� its territories err turssessions. ur Canada Ise any ettsl►iryce or workers' comi,{nation law and an yy occulational disease law of
of liar insurvd who its a cilrsen t►r resident of lire United Statem tK a slate designates- in lirr► 3 of :he tdeedarations. but does not in-
Canada arising trot of and in the course of his enililuystient b) rite chide those pprovisiant of any such law which provide non-oc-upa-
insurted in tonrec6on with operations in a state tictiigiiateii its tonal disability benefits.
firm 3 of the tkelarativnt; f►tat Il►ib itisiurance sliv!, trot amity :o Eli) State. T hr ::ard "slats:" means any-State ear Territory of
an:• snit br+x*ht in tx any judgtaent rendered by any court•outside the Unitcd Stat.s of Atnetiea and :ht District of Columbia.
Ilse United Notes of America, its territories or ix►y:c:+stcrss, or
Canada or to an avticut on such judgment a•laerev.•r biwight. (e) Bodily injury by Atcident; !tidily Injury by Djtm e. The
ct+rs.ratctioss of di:case is taut an accident within the meaning hE the
word "accit!en!" in the term "Bodily injury by accident" anti only
11 Viefener, Sattimmm. Satpplotalenta,ry irsyments s;taclt disease ..s results :iirccily front a bodily injury try accident
is i5 l
fnchuled within the term "Isc-dily> o injury by accident." The terns
Asrespe•res sire iasurastcr affsatdes! by rlie other Icris►� of this f
"f►cHlily injury by disease inclw enl}• ush rliarasc a:t not
tstyiis�y the eomt:arty sisal.,: incltulcrl within the tertn "bodily injury by accitlent."
(a) defend any proceeding against the hutir:d seeking :such 1d) Assault and Battery. ;Lftidcr :ovcragc 11, assault and battery
benefts and any suit against file insurer! a1eging .4ucL injitry and ~half fie tteeined an accident unless committed by or at fire dirr:ctiutt
scekif.g damages on account thereof, even if such procce.link or -if flit insured.
suit is groundless, false or frauduk mt, but the company may :stake
such invesugation, a.Wiatioti and settlement of any ciaint or suit
as it deems expedient. IV. Application of Palley
(b) iay all premiums on bonds to release attaclimenis for an This policy applies only !o injury (1) by accident occurring
j amount not in txetm of flit applicable limit of liability of !leis during the 1►olicy period, or (2) Ly diseasr eat►sed or aggravated
palmy, %I.1 premiums en appeal bonds required in any such defended by exposure of w1ilich the last day of file last exposure, in Mr.
proceed;m or suit, but without any obligation to apply for or employment of the insured, to conditions causing the disease �
i furnish any such bonds; occurs Juring the policy period. T
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EXCLUSIONS
r
i This policl, does not apply: (d) ustdcr coverage 11, (1) to pt!-•;tive or rxcniplary dartsages
pit account of bodily injury to or death of any employet employed
(a) under tmrtratirs A and H. to operations conducted at or in violation of law, or (2) with respcet to any employee cmployeil
from any tworklilatee not described in Item 1 or 4 of fLe declara• its violation of law wills flit knowledge or acqui-,tenet of file
lions if the insured has, tinder the workmen's cum;ensation law, insured or any executive officer thereof; ems•
} other insurance for such operations or is a gtsali5ed self-im-mer (e) under coverage I1, to hoJily in11tiry : y disc-se ur,Irsb pricer
to t•strty•rix mouths after the cnJ of Ilse policy period written � 1
!
claim is made or suit is broultht against tilt insured for damages(!�) under coverages A and il, unless reyuir.d by law or le. (cause of such injury .r death resulting therefrom;
serihed in the declaratic►tis, to domestic employment or to farm
or agricultural employment; (f) under enverawe 11, to any obligation for which file insurcd �.
or any carrier as his insurer may be held liable under the work- `
(c) imiler cov:ragc B, to liability asst►s»cd by the insured under mest's comliensation or ocruralional disease law of a :tare desig. •f
E any contract of agreement, but the exclusion does not apply to a nattil in Item 3 of the declarations, any other workmen's com-
e warranty tiaat work perfanywd by or on behalf of Ilse insured will liens-ition or occupational disease law, any uuemplo7inent cm.
i be done in a rrorknoWike manner; psnsation or disability benefits law, or under any sinular law.
► C014DI TIONIS
(Unless otherwise noted, conditions apply to all Coverages.)
11. lfitftaimu• The premium bases .nd -ates for the classifications When used as a prrmium basis. "remuneration" tiw4ns the
r of operatiwts dtscribed ip the declarations are as stated thertin enli-e resumicration, computed in accordance with the sranssals in
and W ttloottrliftea;ons two sv described are those ap licable in use by file cuml►any, earned during flit �raliey period by (ti) all
atca(chile* with the snantw a in urn by the company. This policy execelive officers anti outer enrsloyrts of the itssurel engaged in :
j is iastacd `!y the ttpswrpangg shad accepted by the insured --vita the olaerati,its coverer) by !Isis pricy, atoll (b) any other person M.
Ft
te"Wel that U any ehttn a in elasssillcations, twigs or ratin ftarming work which mayy rendrr lite company► Habit smite thistns is der ketettwtea appiic�tbte tar the policy alder nay Tarr rtgu• policy for injury to or death of such person rn aecrartdanrte willsng this i�ttaoraate a• trsu�e of any amendtnetrls affecting Ill: tilt wtxkinells compensatio" law. "Remuneratim" sliali not grclud.a
Iris prtwiodkd by the War•I imm's eompcnA:io±s law, such tiodlige Cite rentunerati m of any pperrson within divirtiort (Is) foretroing• if
with the cfec:jfnr date them; shall be s!att`d in an thdorsement the 'nst.red maaintoins evidence satisfactory !o the ox-mpany that r
is4a'-1 'o lttarsat a Pool trf WS polity. the payr►tcnt of compesisatoti land wi►er benefts under such taw to
• 3aCxt1 thins i •�•:
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MAN K&MIARM TIISR, R1fT1" 11f:MafMS Ali 11t1091Ullt1111`A
1bk h fist a 1tMs/ltls MI wtii ttt1111461 w111w its si COMP011*j ottivatises Page Arl1111t:ji taelursigllatl-
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CONDITIONS{(0mlinuerct)
i
rt taleh Iwruwk its ftVu!ed by other valid anal collectible inaurarice or S. Notice of Injury. Wilen an injury fwctirx Written notice slila,l
i Ir>r aNty Mhcr uutlertaltinlil ap{!raved b} li►t l;ovcrunienfai age;lcy Ire yis,ctl by or s►ti IMIAlf of flit nlstircil Its tilt company or sin
nit jafiisfKctiew lberteof, of its atittwrired YAKcnts as soon as {aattica!li., Such notice sitar,
contain parliculals suRieiens to itfcntifv the illsureol atilt also rea-
1f the alrclaratintls flrovitk ft;r adjuAllie•nt of (►rrtilitlin on outer soliabty libminal,le information resltectutl; the tittle• place• ant. fir-
thaa ail ant:itall l4sill, the itisured Sliall leay Or tlejx).sit lirt►nium cunlst:ltives Ili Slit injury. Ilse nand•% avid ;addresses [lf tl;t injured
to file coltipatty 11pon list ineeptioti of this l;alicv atilt Ihrreaher an.l of avwitable wilnvsses.
ialttim premiwins &hall be computed ill accordance with the roan- r
pals ill ti� by the co►t►i►auty anti paid by the insured protiIjolly after �• Notice v, Claim or :Sills. f i claim is made or suit ctr other
tit
the end of cacti inlert-A s;prcified in the Itvlaralimm The ticl►ttsil prucc•c•tlilig is i►rc►llglrf al;ains! till ilnnlrrei, till instifrd sh
{►reilll•lill shall ire feiaitletl by flit• Cep111pwiv 11111il Irrillinatioll of pint diairiv iRlrt%ar►t fit► list' Cttlllitally T%'cry dvill111i1, Ili,tice- nminmlx it+►fity and trectitet) to the filial prennutit arljusttncnt.
l.r olht'r process rcecirrtl by hint or Ili, represcntali►'r.
The in%ered shall maintain recall!% of tilt, info• elation necv%%art. 7• Assistance and Ccr Aeration Of the insured. "fill i istirrd 511;1!.1
ce,►►l►crttc with tllr ton111alty and, upon Ilse ct,nlpanv < request,
for i►rrn►iont eomputallion oil the h.ircs stated in the ticclaratI0114'' i,hall rerfe-itil 1►t•ariti►;1• atilt trials atilt r11;111 assist ;it cficcfilig %title-
anit shall send toS lief► of such records to the company at lire call
of the rralic uietits, srcnrink atilt l;it,•ink rt•i+stare. obt.liuinw t�,r attc•ltdanee of
Y lxrlotl and at Stich linits during Ihr Iic,licy perinll tt'itt,r..arx alnd in the conihict of suits or prctcrceiiogs. The insaleli
as the conttratiy may direct. If ihr insured fleas wit f trnisle t,•cor& %Intl) not, cxerfil .11 lair •p+rti cost, vulunt:lril)• ln;lke any Ila}•meni,
of tllr rennineration of Tprrsonti within division (b) of Ihr defiuiiit►ii y,sunlc .My ,•,11ligaticr► or incur ally cx1►eti%c other than for such
cif :emuneratiun foregoltik, the re•nrtincration of sticb persons sh;11) i;noicdiatc ilirdi:al antl otl.cl services at I1►e time of inittry as are
lot cctnl'-wied in accorelxitce ►v,tll the imtivials ill u:c by tlic rct(ui►t•d Iry the workmen's eosulwnsatiull 1atw.
c. company.
�. S. Stalutoty Provisions. Coverage A. 'rise conivanv shaft he di•
The premitit-a :.tale& in the declaratenns is an estimated fire- rectly and primarily lial►ie it) ,tiny person vittitlell to the 1►cflefils of
' ol.%mt only. Upon trrnlination %,f this i►olicy. the earned fremitint the woIklllrll's Ctiml)cit sat loll la+, holler this policy. Tlic obligations
shall be corni►•rled :it accordance twitlt Ihr ones, rates, ratio;- plan: of Ilse colellianv ilia)• be enforced F,y sneb person, or for ills bench!
pre•I:inins atilt nliniontn premiums applicable to this insurance, in 1,v ;Lily :►;ei,cy authorizers by law. wbetlscr alraillst till- cow. laity
accordance with Cite nianuals in tl%v ls,' the cottipai,v. U the t-anw : ;,lont or joints}• %%ills tile_ instirril. It:utkrulitty or inanlvelicy nI the
Ili-rivititn ,fine. c.7n11:•:;ct. tr<eecds lite lircntiunt pre�•ioasly paid. flit• insured or of tilt- instired's r::Iatc, fir ;ttiy elriauil of the itisured.
r insilr.el abets I►Ay file excels In the company; if Ic:r, the• ctillip u►}' shall tint relive;v the Cwtillatly of ally of 'Is oMigatiuns under cov•
%hall return to lite injured the micarmil po► .inn paid Ity if,*.. rral;e A.
itiaured, All premiums snail lie fully earned Mitthcr any twork-
"11:11'» colniwnsutiol, 1A , or ally Bart lhcscnf, is or shall tic ticclarcil Ac lwtt+cen Ilse einpluyce atiil the cn►nprny, nc.ti.e: <•r knrnwl-
invalid or unco nstituticeriA. rtlgc of the injury flit VIC part of the ir,sure(f shall lic notice or
knowledge. as tfic case tilay be. rite flu: part .:f the coini)anv; the
Latta; Terin Policy. If this policy is written for a period losiger juri:cdietiur of the instited, for Ili,: i►urposes of the workmen's
than oric year. Ali the i:rovisions of this policy shall apply rcpa• cr.111I)C114-m ill law. slsall lot juriseilctioll of the company and file
ra►cly to cacti consecutive twelve nionths period, or, if the first company shall in all tlliligs i►c bound ;iy atilt -.Illljcct to the find-
or last consecutive treriwl is less than twelve srontlts, to Such ings. jtidgtucntr, awArds, tltcrets, order% or decisions rendered
lac:i. 1 of less plan twelve cnnnths, ir the saint manner as if a against the insurcil in tile loan atilt niamier prcvilled by such law
1 sel►ara!e policy had been written for each consecutive periu(i. The and within the tern►. limitations and provisions of this l►uliry not
Carved primimn (or cacti ,ttieh period shall be computed as pro. inconsistent With Stich IAIV.
vidtd by Lontlition 1 of this pe•licy, subject, except as otherwise
i pravidet) in the man+.lass in use ill• the cnrrpatiy with respect to All of tl►c provisions o! the tvorkuirn s tnm(>"rtisalion tarn shall
e foviticati ill
a operations for trhich this poke} ith r t s a per lie and remain ,a part of thi► policy as full}• and completely as i.
a written lscrein, sit far as tliep apply to cornpenfation and other
capita prrrrium bAsir, to tilt followiriK provisiora: l• ,
� fpcnetits provided 11y this !.r Icy ar.el to s,1ce131 taxes, payments
(a) 'f'Ise premiurt rates for [lie first cunctcutivt period assail ;,r tnlo security or oilier special funds, atilt a5sesslrlenls requireel of
iliose stated in the declarations and those applicable for rtich of levied against callycnsatir:n insuranet carriers under such law.
prrinil ill acciod3nre with the mauu.ils in list by Ihr company; The insurccl sliall reimburse the company for any payinrnls
required of the company tinder the workmen's coinlrrnsa!lon law,
fill The preini ita I;accs. classifications of operations. rate, in excrss of th►_ t,rnefttr< mgtilarly provided by suels law, solely
ratitig plans• 1►rt,itir•:Ii% aid tnininlum prorniiulns for each such Ilrtd:ISC Of injury to (a) any entployce by reason of the serious atilt
sulrsrdurnt ptriocl %Mall t.+e I'lose app'ieable for !full► period ill wilful liii%conduct of the instirerf, or (li) any trnplo)•,te eniployrll by
acc`�rrll?1lCC r:ilh Il:tt ma,ns11,15 in use by the company. tl:e hisured in violation of law ,rith tllc f,nowledge or acquiescence
of the insurccl cir any cxccti!ivc officer Ilierrof.
:t. t itnership or joi.L Vtn!tt.-e ss Insure! If the hisiirrtl is a
partnership or joint venture. t:t,cls Ittsuristilce as is af;ortled it)- this Nothing licrein shall relieve the insureel of file obligations
i fwlicy alrl►lics to each partner or lncinber therrof as an inr,ured inlltnscil upon tilt insured by the other terms of this policy.
0111y Wilir Ice is mling within tilt scope of l:is duties :�; rIicll t)• Limits of Liability, Coverage 11. Thr jords "(farmiges because
p;crtner or ricr:iber' 'A Ilodily injury by accident or disease, including death at any tinic
4. InavoKtlean renal Jwviit. [Ise (.tympany and any rating authority i'c'stiltini; ihcrefrorn," i,. eoveralie 11 include darnzgcs for care and
having jurisdict an by t;�� shall each be permitted but not nhiiFlated It), u( services aril c;amal;c± or which tile insured is liable by
i to insltc;t at :.113 rrascniat+lt nitric flu wntl.pplaees, ol►eratiotis, ilia- reason of suits or chins brought against tilt. insurtd by others flee
In
«ax -j• - iaenl .,k ,retch l,,,• Iili% policy. Neither tilt rigid IwAilyrtcot-crinjt rytlsustamedarnages obyined from cnip oyees of ttiltfhers bccausc of such
insured arising out of
to mak.- ;,,,,pee;_;ry n:I. f;sr Inak►n; th,treof nor aay repore thtrcon
+hall left ititute an utitic:lakirtic on !vhal'i of o; for Cie I'tnefit of aticl ill the course of their emplo nir.nt. Tilt limit of liability staled
• the ;nsurej (It ulitris, to drtrrmine or warrant that such work• ill file drclarati.nns for coverage IS is the lotatl limit of the company's
r' P1ac,tts, a,Ett r;tinta, t'';:hinef,y or equipment arc ftafc nr Ilcalthfui, liability for all danial;es hccause of botfiiv injury bar accident. in-
c•r art is esm plaice �:'ith arty lxw, rule or regulation. tlucling dratfl al zny time tr;ulling therefrom, sustained by tme cr
•` 7'ue cot Pit more crnployr.es ilt any orte accident. The limit of iiability stilted in
{ors? and any ratin„ authority t:avilag 1111isdictiorl by ttsc declarations for coverage Ii is the total limit of the company's
tali slsait e,clt ►r licrrnitttd to ex;_;t ;int and isvelit tile insurctl's liability for all dam>wg.ts l)tcsuittc of bodily injury by disease, In-
k Wit re tzc Moil all o6al !tel�cr, rlisl,url;ernetsts, ioucherc, rolttr:cis, cluilitig dcAlli at and crate resulting theref.orn, sustained by one or
Wit rep�+rss xn:3 .a,1.! c�t;ttr lxpt ks, thxUrritnls slid records of an)- and more enlployccr of tilt insured in operations in any one state desig-
et'Yy acrid et Ili rr,l;t,onaNble time dclitte the ocriit•y i►criod And any tilted in stem 3 of the dcctarations or in operations necessary or
f tta:.rls>,t,'►1 tl,ctc+t: ,teals within Ihrce yews all�r termination of Ibis itncidtntal thereto,
c*.lp+�licy- as 1s,r 1t•.r,v 1a110w fix lend to show gar verify the amount
wt rrisa,t►ntr•w;iri� w :,attar rrrnli•Jrn h,t+tis, al Mile to tilt subject Thr inchWon herein of mart than err insured shall not r+pel&tt`.
+rr ()It!•ir insuras.s,e, to incriasc the limitt of the romlrany'st liability,
•
• 'bv tltuihlM f luf4slr ;thlwlitrrt.�) '•�.'
till. A41k% tAgsbW CemplolItl►. CovtraFt 11, No aetirm shall lie rlurina tilt i4111'ey lwr;ctd flee insereci shall rule and writle" Mice ;s
against the roust, 1lidess, an a con,101orl p•ecerknt thereon, the �fall Ito the comma►►y within Ihirty tlalrs seder title slate of such
islkired shall have fully consplictl with all Ilse Irrrns of this Mtlicy. 111•aill. Ihili 1M+liry Shall CIK'er tPIC insnrrrl's Iczal rrltterc•nfutfve a+1
ow tulltil flit, ILMcatnt col list in.sitcd's obligatiinl to i'ay shall llPft't• ils.nsrrd; provided that 11411kc of canrelation adilrr••irr! In flit in.
iteln Anall deterfro4wo tillter ay judKowil againta the insurrrl x0rr itrirrrl nanir+l in the dt•elaraticNlx and nailed or deli+•rred. �Ifirr
Mead 113tt1 or by written agreement .rf the in%ureft the c4pillwo such i1ratlt. tit file adtirrs•s t-ht.N•n in this Policy *hall lie sufficient
rand the company. notice notice In eifect cancrlatitri of this lirilicy.
Any rwrorin or clrganirafiNt sir the legal relirtsenlative Ihcrrof IL Canatlation. 'I'hi>i IM►licy may lie canceled ivy the insured by
;1 who has secured such jitrlKinettl sir written agreettient Ahall there• ntailinif to the tonlliany wtitlen nutict slating when lbrreafter llir
alter litentillerl to receiver antler this Iiisky to tits extent of the caticelation shall Ile effective. 'Psi6 policy tllsly be cancelcol I,y Ilse
insurance afforded by this paler. Nothing tontainetl in thin imlicy conil►any by mailing in Ilse insurrrl : ' the adr',ress shnM11 in l(his
shall give any person or organisalion any right to join tilt cons. Itot:ry w►lliell rn7ticr slating when nnf less than felt clays Ihrre 11'r
)tiny as a co-sle(endant in any act;r.n against flit insurrrl its dt•ter• such caricclation shall I►te effective. The mailing of nrnice as afc►fe-
h, hint Ilse insureds liability. t::titl shall 1►t Satftcirnt 11 MY Of twuicc. The efltetis•c date au+l Itctir
s of caneclatiolt !stated in the notice shall hircone file rrld of the ivillicy
liankruptcy or iussolvency of tier insuttd or of the insured s ltericod. Delivery of such written notice either by il►e iuisuited or Gy
estate shall ttot rtlicyc fire company of city of its obligations tm:ier Cite company shall :it: equivalent to inailing.
zot►trage 11.
If file insurctl cancels, antes for manitals in use b� the cool.
' il. Other It1aurance. If the insurers has tither itlKttrancc agaitlst a pally o1Ilrrsri%C lituville, rarurd prrillivin shall lie (11 caul lliftll ill
llw% cnvcced by this ixilicy, file company shall fool lit liable its file sccordauce w•itlt the custimixty short rztr table .aril prr►rc•11nre ant]
iasttretl Itercuedrr for a urvater prellortinll of such So-4 than lite t3) still Icss than ►he ntillium m 1ircttti►nn al^Ne I in the declarali+rll..
allmlirit which t+•0111+1 have Itrcti payable tinder this ;Niolicy, bad nit If tilt, enitcpauy c:uicela, earncil liremitim shall lot,: cumoutell pro
r.ilar olhcr insura
nce existed, (►ears to the suin of sasil arttounf atilt ra I. I'rei hills adlustnicill nlsy its made at the tinir callcrlatiun is
Ilse sltttounls sv:rich would have been payable under each oibrr cRccicil anti, if not then nsalle, shall hr ttiade As sot►n As practicable
itolicy applicable to such toss. hall each stick po'.ic)' heeu the only after cancclatioil becomes cffcclive. '1'be company's cbrrk cif tilt•
l►c+liey so applicable• chrci: of ;Is tclirescn talk c mailed or delivered as aforesaid shall
Ix. Subs• atiom lu the event of xn lic a sufficient tenticr of ally tcfund of lircnlitim dice 14, the iu'.ured.
'f +o'[ Y Pay'%ssrstt untlrr this pstlic}•,
1J the coiupany shall be subt •:;•.reel to a.11 rights of recovery lbrrcfnr Wlevo the inatrance under the worknien's compensation law
of the vistired anti any pert, , entitled to flit benefits of this policy Iuay ilea be allcelctl except in accurl:Alicc with steel► law, fllia
againwt any r►crsrw.t or orgi ,tz:ctinn, and the iusnrrd .hall execute cr.mlitii►li sit lar as it aatplies In flit iu•urtiire tenticr ti,k polity
1 anti deliver instruments witt paprrs and tit) wlit:;ter e:-e k necec- with respect to such law, t amended to cc.nfornt Its Stich law.
! sary to srcum such righter ]'tic ioturctf shall do sniping after IovK
Its prejudice such rights. 16. Terms of Policy Conformed to Statute. Co crake A. Terills of
this l,nlicy which are in cttutlict with the tir+tvisituss of ill(- work-
13. ChangCL MAL.. -,.a y •twcut nr knowledge posscssed by :tit%- tnt•tt's cotitpctisatinu law' arc lterehy attirlided to ctmf,irnl Ill such
agcIlt or fly an;: ntlirr ,.;1 .ern shall not cfl'ect'.•t waiver or a changi- law.
in an•• part of this 1, -tvy or rwtnll rite compa;t: front aksertitig nny t
i;;;ht tenticr the iv cns t,f thin l,ulicy; nor shall the ietrll't of this: 17. Declarations. It} accclitatice of this Iri►lic)• lite insyrol astrevs
t (lilies• let• Il'aived or c:llat►gctl, except 1)y cnilorsvilloll i'slit•tl ill f,►ttn that sill 'Iall'IltCl►t+ Ill the deelar. -,it, me Iles al;rel'lllt'tllti at►d fro►•
a (tart of this policy. te-,oitationi. that tlik policy is in reli.itice upttri the troll' of
.tics: tt•lltr%ctltatni iti :uses 111311 116% 11"licy ellibi►ilie. all .1►;tt•t•111t•ttts 1
14. ,Assignment. AssiRnmrni of interest timir.r this policy shall suit cxiaing hcttvcrn hiu►•.clf anti tl.c c.inslt:lny or our (if its ;Igt*llls TV-
hind the compatty uutit its cotiscut is cndar:ril bcrenu. if, hmvcvcr, I.lting to this insimincc.
i As resp:ets tilt company previkwsly designated, the following cilrrelwive provi-iittn f•,rntc a hart of this police:
i Mutual Policy Cunditious, tUMRtRMMS MUTUAL Ati11101CAa 0444urACTURtRs
cASUAM COhirAwt MUTUAL INSURANCI COWANIF
i 'I his is a rerhrlual mutual corporation awticil fly oriel operatri) for the bencrit of its mctubers. Ti►is is a r.on-21Cses.able, partieipatilig
policy tinder 1►hfch the 117zrr1 of Dirrctors ill ill; discretiurl nla)• iletcruti is and pay unabsncbe.1 liremitim deposit rAinds (divitlends) Ito
the insured.
As respects the State of Texas. such provision is ameuiled its reAll as follows:
Mutuals—Mcfnbership anti Voting Not-cc, 'file in%ored is notified that by virtue of thin policy hr is a tnctilhcr of 11•c company So 'lcsig-
naffed, and too entitie+l to vote either at persors or h_t• proxy at any and all mvemigs of said c,rnp:iny. The annual Sfectiogs are bcl.l in
its licKur Office at ill.- plate anti tune stated an tilt front cover.
Mutuair—Participation Msttse Widwilit Contingent Liability. No Contili cill liability: This puliry is Tilt ilolic)•Ilnitfer is
a member of such company and ¢hall ptziicipate, to the extent and tilitit, the cotitlltions fixed ;,nil determ;ticil Ity iba hoard c.( Directors
Is in accordancz- with the provisions of law•. in flit tlistributioit of dividends so fixed anal ,h•Icritimed.
Llimiidtntrh. AMfRFCAN MOfonists Itt?taAt R1A1►tt
I46MAiNCt COMPAWi lJOURANCI COMPANt
The insured shell participate in the rarninpz of the company to such extent :still tipon sucls ,-oaditions as tha:1 be determined by the
1162-d of Directots of the coniparly in accoril7ncc with l.aa• anti as Made appliz—alilc to this polic) provided the insurctl shall have complied
with ;ill of the terns of this policy with respect to tilt paynirot of premium.
r As resf►ects flit Start of Texas, such provision is amended to read as follows:
17widtatd Ps'Tlwiafan—•I'stttiieiptting C 1omparslti. c named insurrrl shall be entitled to participate in a distribution rf the surplus of the
tonllsany. At dttermiucd by its Board of uirectors from time to time. after approval ill accordance %vith the pruvit•ions of ilie 'Texas lnsur.
ance Cade, c( 195:, al artirsided.
As rc:Itect.: the Still,! of California, flit 'lutusl Policy Conditions and tl:c Dividends cullditien arc slipplesticlitcd by the following
paragraph:
li+stMk4pating Provitsiom 'The in.urted may jlarticipxte its %lie exrninl;s of the company reprcunted b • surplus accunitdated (mete prrmitirns
on California workr►stn's crnnpt:1116 011 x)bcies to lite Went autl ultoil the conditimis dcterntirtetr by the Boartl of Diteciors of the '
cor►ipany in accordance vviih law xftttr the expiration of ihr pokey period to wl-ich the divillcull is ap;ilicallle, p-ovitled that ito dividend
Shall be payshle hereunder unless tiler insured has complied will, tile ternis of Cite policy in resircct to tl:c pa)-rncut of premium. ;
IN WITNESS �Vl'11cREOh, 1S►e company dcsil;natcd an else DeclarationsI'al-C bas eallsell tb;, polic). to lit signed Ily its preAdcnt
ar:d Stcretal•Y, but this policy shall not be valid unless countersigned oil ti.c 11rclarmimis Page by a duly authutivA representative of
1111% Company.
ltlMwtdltll"S MlUTUAl CAStiattft C01w'AA►T iEdERrll XfMMId lt1ltllAMCt COMt'AMY
AMIRKAM MOTsli:tt7S jWWRANCti tC"O'MI'ANY
y AAl IMAM"ANUFACTUVIRS MUIVAI INSt1RANtCI COtAVAW
1
:fairr�f+�r /.—i i
. 1•eetKf.ryr frra�rrws
G K lt-3 "Ill 11110M ' 1+:CJli?11 " I rill twt+rwt Ili'W. .r
r
�y
13 �1w l> tttusl Anrerkm Motari*tr [3 Amer k , MomfwWren Ftfl ral Kcmp"
zi; tty campmry Inwrx ice Company A�trati lmwame Compwny Inswance Company Wcwk rs•Can A E a tr's Liability Policy Number 3CH 579 '01
99 ARAT'IONS
1.Mama of lnwt�fi THOMSON MC K INNON SECURITIES. INC. (SEE [MDT. #15) �
� �YR'.��Y1.�.1----- --- rr/rr.r...w........aw...w....v..n..�r...�l�.
(Numbtr—Sum City or post office --County --� State -- Zip Code) �� l
„ .. IJM1W N f W.-Y.OBK PLAZAS NEW YORKs MY 1 Oath
13IIWIVWU41 isartnershi !. . p � C:orparaitan � Other
L Utions—All workplaces of the Insu,vd at or from which Operations Covered by this Policy ire conduct
k"ted at the above Adaress unless Otherwise stated herein:
i
SEE SCHEDULE ATTACHED
2. Policy Period:
From: 3-1 " 12:01 A.M. Standard Time at the Address
To: 3- 5 of the insured as stated herein.
3. cover e A of this Policy applistt, to the V:ork rs' Compensation and any Occupational Disease Law of Ekchro the
ftrli+arrriR6 tttteA: AL* 0 AXe,CA 9, CO. O.C FL, t UA„t l D,,, I L,p l la.w KS. s,KY.O LA. s M D.. r. 4A* p
ids � ,tt .tMA„� t�,J.RIr'.Yor �a.Co �,C��C»ePA�R TN.�ilYarYZ"aslfdl.P�f: .r �`X.�,�:'�.
��1OM QF QPERAAJIQN.S Premium Basis Rates Estimated
Entries rn this item, except as specifically provided Code Estimated ec Annual
elsewhere in this Policy, d►� not nzcdify xny of the Number Annual of Remu- prcrniurn �
other provisiom of this Pplicy .. Remuneration aeration
SEE SCHEOLPLE 229p863.
EXPENSE CONSTANT 85 ,
KY . TAX ASSESS. 125
Minimum Premium � A. Total Estimated Annual Premium !i 2,13 148
If indicated below, Interim Adjustments of Premium shall be made: -
y (3 S:mi-Annuslly E] Quarterly Monthly Deposit I'remiu
S. Limit of Liability W Coverage O--Employer's Liability
00r 4 'fI» Sub;cct to a!I the terms xaf th taving f 'i hereto.
uni siS�rwd a CountersiSnat censed
Month 4 D'y 17 YearM i
cK 3-2 s-w soM 1 ED IN U.S.A.
r
r
+�; • „ r
1• `
UKOOK4 Rat A3rn! lCount+:�stputure Endorsemem-
i
r
it h�.��Out cc!�eite:rrturt o0 this errdorsen►er shall constitute cauntcrsigrrature the policy for the sty!a of .
the Annaal Pre nWm for tW State :s:
�t ►�1 1 Not j..ct to ,audit Total
S S �
Lt r.irx'►: Amount o. Coverage: Coverage Provided:
y CW ORNIAa NEW YORK# NY J. J4 TOWEY
COLORADO* NEW YARK j NY J., Jo TOWEY
CONNECTICUT# NEW YORKO N`f' .fie Jo TOWEY
IL.LINOISp LONG GROVE IL CORWIIN Me PRENTICE
�' NO IANAV I NO I ANAPL I , IN JOHN W. HANNON9 RJR
KANUS A,uPEKA# KS EUGENE KONZEM
L. iS!1N1A, NEW ORLEANS# LA ALBERT S• PAPPALAROO
MARYLAND# NEW Yokno NY J• Js TOWEY
MICHIG+AN NEW YOW%v NY Ja J. TOWEY
M I SSOUR I NEW YORiK, NY -j a J. TOWEY
NEW JERSlY. SUMMITe NJ GEORGE A. BACHMANNI
NEW T'ORK NY J. J e TOWEY
NORTH CA OL I NA. NEW YORK t NY J., J• TOWEY
OKLAN M e. ULAHOMA► OlTYa OK SMELLY H« GREEN
TENNESSEE, NEW YORK# NY J. J« TOWEY
UTAN NEW YOR1K* NY in Jb TOWLY
1 1IEP.M NT NEW YORK, NY J* Jr, TO►s EY
VIRGINIA#, NEW YOFtKR NY J, J* TOWEY ;
a WI SCONE I No NEW YORK# NY Jo J. TOWEY
i
Effeacdfve Dante: Unless or effective date Is entered below, this endorsernernt shalt be effective as of the beginning
of Oat pNky period stated In the declarations of the policy.
This endcrrsarrtent "I km a part of the polka► to which it Is attacirc'd. 1'he company providing the insuranev
arffomW by this polka► Is designated on the Declarations Page.
w r
� �.w.++.�ww�.�..r.....�s..www.w.� r....�..�......+....w.+..�w..... ram.....
Ptoducer No. 38 8284 L:ounter�ignetu c' certsed aes a Agent
T"OKSOK HC K I NNON SECUR I T 3 ES t INC.
P%OkY.hl►wober Endt Na Effective Nate
; :: .. ,,� Clr1 • 3 �U I -I -S r 'VOUNT' ERSIGI�EO ATli NEW YO'tJ�► .MY
,, ..l .• -: _.,.:..,.,,,,.�,�,,.,+r,,.;Y, :, .,,....,.,...�.,....• _ �..a...,.._...
•jtir lrl'•'•� ~ j'•il ., j`4*,`y, 1' '• t••.�•j•�• i,•1•' •1 ?.t^ •1/:. yLy ,.-•y •r:!•1�4, •n ..'•' r. •'1A. l ''y.� !�r+; t
r •`,r , ti' } �•«�:.. • �, , ... .•,w .''•j, •• %.f • f ; ' '••+y .��,.•0y• ~ 1�r.(• "!.• \�r. 'I'i`l',A.•I' • ! J.Y•r•4.. ytii'j,, r C�.� . .1i), . '.• . r ' • , •. �-1� .�'..�f,+.,r'• ). ••:i�14, „ ,. ..• � I•Lr..• .•'1• '�!j4yir•••. .•. '•'• :• '�
,, M,y ! ix•}�� ',,!�� .,f ti •�i' ' j.Y,•'I►• ,J�•j•' ,�^f!I'. .jrr_' r..'r.' L l�I,. ,�r� •►.r+•'�1,�����+'�!• ,• •<•p�':4 ,��•• � fir, r
•Y"�.. -.-i"1'+� ,.•....rrM.w•+
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WOItKcJW COMPENSATION AND 1E S 1'1PM" LIABILITY POLICY
AddNionW Insund �cirfstrit
In consk4mion cf Idol pmmlwn, it is unoerstood and agreed that toe obligations assumed by the C:ornparny under
the policy to which this endarseinent is attached) shall also appal► to the additional insured or insureds hereinafter
rMntied. WNW to the follawins conditions:
The Inw red named in Declaration 1 (her n called the lonsrtred) if constituted thft agent for the odditlonal insured
or insureds, and
(1) Any kN.Nke of canctliation give to, or received from the Insureu by the Company respecting the cancella-
tion of this policy shall be conclusive and Nnding upon the additional Insured, or insureds, and each of them,
Old i
(2) aril► return premium payable and any unabsorbed premium refund or dividend which may be declared ,
by the Company and allocated to this policy shall be paid to the insured, and
0) It is uoderstood dust the financial and operative control c..f the ?dditional Insured, or insureds, named
herein, are identkai with that of the Insured, or that the Insured and the additional Insureds named herein are
coinsureds in connection with We business operations covered.
A►DDiTONAL INSUREDS
LIL ON.,, .I+i' STM NT. SgR11CLSS, DIVISION OF THONSON- KCAINNON SE UR 1 T 1 ES. 8 NG
6j JL_�TfiLgj_Pk R0'ERTY CORPORATION
H ON M4 K,�Nl�ltS„N ASSET MINAO,9�ENT 114cit . ,
Effeoh►e Elate: Unless an effective date is entered below, this endorsement shrill be effei:tive► as of they beginning
f of the polite► period stated in the declarations of the policy.
this endorkn+ent Omit fan-n a part of the policy to walhkh it is attached. The corny%ny providing the !nsurartce
afforded by this policy is designated on the Decleratio s Page.
i
an lnskurrtd• Producer No.'s -�
T"ONSON HC KINNON SECURIT1ESr INC.
�olky MPG Enudt, No. E chive a7a:erw
-0 CM ,wI� I �i
i MA wwi+•�`�wM.wn■ +•'.+�w�lli-A�MaYw
*C+ompletim mmmary only wha" issued sabu quent to poky preparation.
�.'� • dt'!P y "1 tee,. J.
' .�.. , ••a .,. •. '6+� •��.: ' . , I'II�MtL�1► '.. t Y , .
I lA•'y. .•�•"f ' r� :l'�':' r .. - !7 . .• . . 'i. •1•\.� .._ l•. ..•"1�yw.-t •r.•.'�'.. ! •3=.l.;'�':. .{ 7,1 .iL
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•Y _ ,,.,�;;. Epp .,.t ry fit, •,;� � . .. �. �...� �-;-.... .•+...�...,.,�-.�,�•_.�
r .r. .. •i• yJtN' . �''r .�+a�r P1'�i�+'.�JM�"ry�w t�i '�I• '�w� ,,4rt„N r''.yy'1�.'+'1M�.�.. Si. r'.f..�' .. ..'J�'• '. '. ... ' {
1
fT,
• it
CiliY OF lIUOMNOTCN SEACiI
REQUEST FOR LEGAL SERVICES ca� city ty Ow��
�. 'Ink C11y A&MIR)WOO►
aolainrod I�Me►tAhi+ltal �.,
our,"
aw",f'', +.+..+.ter. �..�.• �.:�+.. ...r.._.+..
mt Melt sy t
�Jr�t�t+e?�1''ti' t?t l''� r`ir'j:i�t:ti tJ. KO',lsar �1f';1S?T'F=" ,'• r"(:'+'�'.Vr'it1t1�,?C'I!t
iilWRUCTIONS: File rupw In the Oty Aftmey'S Office u soon as poWble. print or tyre fnu noc"sary for City Attorney. Out-
11m brLfly rommm for tht re"eet.Attaolr all information and exhibits pertinent to the Subject,
Type of LegW SarWce 1•'equened:
lnsurer.Ge [ J Other — -- --LL
1
I ! Reealution I I Ovid: .__.
I I Cantrm/Agreemernt [ J Opinion _�.�.�.. .............�.�...
AN exhibits mun be attwhod,at this rrquest will tm returr.ed to you.
[ I ExtJbh3 Athtowi
1,
,'t L`t:r?<�'ti`,'' �){'Ciwi; fir?C' 31�t;tlPr�•Ill��? +,r.l; � rry.:t•�.,r:� r,-,Il,i +'f'•I'lif�l+'?,Lt':. ��fsI' r+•1•,n;t,t,f)r. �. �• 'ir'tttli' .
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tltf' i'ti1?1C.'�lt..`: {11 J lti': ,,•�r,tT;;e'! c,(` }?f.: l'f.`f,tfiJ'1' ! 11C �1?� lill�.`;lf'':: !:1
.'t:.;'P ) ir` t;i'13I?f'C c►r:.rti`ic:r.tr,r,� ,t!L t;,'.)+' proof tjr,1
illi tht:l othor t`r'r'tif jc°htr..s fui, ', c '-r' it�i.`1'rr ►; if�rl.
t , r .t,t./ e' �1� J~ �''•. '�-� Il ' ' .r {pi rrt i r�' 1 '1' i) 1 j Pt d
jir� 11'Jc ( 1' i (` feJt. :(: !�I� r( fir' I I" J;(ll �r�f !r �r�11•.t,'{� ".' r7 tr1
1 i y r.+t ' h i , .r .� r,f'll i r1'. i !( r! + - ri )t 1r (' 1r �) ('. t S� 1' 7-,
l +} f.,, I�2�;irr. !i'fa_ .Yr11' t.;1� 'lt ,1. t "c FI � r� C![sritl+? 1 `�1 �'' ►. fl � + �. rrtlr .lt
,
1
it for Caifma AatMr1, It+IN"'Or COWAN MX*M, w 00"YPINJOn Alft SiF,,Afiturv:
A onde t13AI'
Mo 12"/
REOUE T P,- R CITY COUNCIL ANION r
RBI 84-47
Date
Wbmftiad to: Honorable Mayor and City Council
Submi Chm-les W. Thompson, City Admin;str-a or
Pr"Wad by: 11ouglas N. lie Belle Deputy Director of RedeveIoprrien 4 4tT 00V ,
jv
INVESTMENT BANKING CONTRACT THOMSON M ON (� y
Cl yo '
5tatswant of issue, Recommendation, Analysis, Funding Source, Alte;nativ, i men:s.
STATEMENT OF ISSUE:
In formulating the tax-exempt financing for the Mols Corporation's Seabridge
apartment project, it is recommended that. the investment banking firm of ';'homson
McKinnon provide the underwriting services. Pursuant to this re coin mendation,
attached =s a ^ontract between the Cily of Huntington Beach and Thomson McKinnon
for the Council's considarat:on.
RECOMrrENDATIONt
Approve and authorize the City Clerk to execute the sttnehed contract for
underwriting services to be provided by 'Thomson McKiin, on.
ANALYSIS:
As the City's efforts to provide tax-exempt financing continue and the scheduling of
issues overlap, it may be necessary from tirne to time to employ the services of more
than ooe investment barking firm. Staff has reviewed the finan-�ial status and annual
report froin Thomson McKinnon and, in consultation with the developer and bond
counsel, has come to the conclusion that for this transaction the firm whose services
most nearly fit the needs of the project is Thomson McKinnon. Therefore. the
attached contract is recommended for approval.
FU'RD1NG S0UFC'E:
Costs paid from bond proceeds. One-half of one percent City issuance fee will hr.
assessed.
ALTERNATIVE ACTION:
Do not approve contract.
ATTACHMENT:
Contract
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