Terms of Use

Version 1 · November 3, 2026 · AMKO RateWorks, LLC

These terms are written to be read. They cover the AMKO RateWorks website, the portal at amkorateworks.com/app, the document reader, and the reports the portal produces (together, the Service). By requesting access, signing in with an access code, or using the Service, you accept them on behalf of the city, district or organization you work for (you, or the City).

1. Who we are

The Service is provided by AMKO RateWorks, LLC, part of the AMKO family of companies with AMKO Advisors, LLC, AMKO Bond Services and AMKO Capital. AMKO Advisors, LLC is a registered municipal advisor. The Service itself is software and general information, not advice; section 5 says what that means.

2. Access codes

We give the City an access code. The code is the City's account: your model, documents and reports live behind it, and one person can be signed in with it at a time. You decide who in your organization may use it and you are responsible for what they do with it. Do not share the code outside your organization. Tell us at once if you think the code has been lost or seen by someone who should not have it, and we will replace it.

3. Your documents and your model

The audits, budgets, ordinances, billing reports and loan documents you upload stay yours. You give us permission to process them only to provide the Service to you. Specifically:

• The reader uses AI to find figures in your documents. It is the one place the Service uses AI. Every figure it finds is shown to you with the page it came from, and nothing enters your model until you confirm it. Everything after that, the calculations, the forecasts, the rate design, the budget and the reports, is fixed arithmetic and fixed wording.
• The pages you upload go to the reader's service for the read only. They are not used to train any model, and they are deleted there within 30 days.
• Your documents are not stored on the RateWorks server. What is stored is your model: the figures you applied, your inputs and your settings, kept under your access code with a short history of saved versions so we can restore one for you.
• AMKO staff can open your model to build it, review it or help you, and that access is recorded. We do not share your model with anyone else without your permission, except as the law requires.
• We delete your model when you ask, and no later than twelve months after your subscription or trial ends.
• Your documents and your model may be public records under your state's law. That remains the City's responsibility, as it would for any record you keep.
• Upload only documents you have the right to upload, and avoid uploading pages that contain passwords, account numbers or personal information the figures do not need.

4. You confirm the figures

The Service works from what you confirm and what you enter. You are responsible for checking the figures on each review card against your documents before you apply them, and for the inputs you type. The results are only as good as those figures. The reports say which figures came from a document and which were typed, so a reader can check them.

5. What the Service is, and is not

The Service applies published rate-making methods, among them the AWWA M1 manual for water, the WEF Manual of Practice 27 for wastewater and the NARUC cost allocation manual for electric, to the figures you confirm. It is a tool for the City's staff, council and advisors. It is not legal, accounting, engineering or municipal advice, and using it does not create an advisory relationship with AMKO Advisors, LLC. Nothing in the Service is a recommendation about a municipal financial product or the issuance of municipal securities. Whether, when and how to borrow, and what rates to adopt, are the City's decisions, made with its own advisors. Where the City asks AMKO Advisors to review a model, a report or a financing, that review is a separate engagement under its own terms.

6. Trial and subscription

If we gave you access on a free trial, the trial runs for the period in the letter or email that came with your code, and there is no charge and no obligation at its end. After the trial, or from the start if you subscribed directly, the Service is an annual subscription at the fee we quoted you, billed in advance. Either side may end the subscription with thirty days' written notice; we refund the unused months if we end it, and we may end it without refund for non-payment or misuse. When your access ends you may export your model as a file at any time before it is deleted under section 3.

7. Using the Service properly

Use the Service lawfully and for the City's own utilities. Do not copy, resell, reverse engineer or probe the Service, and do not try to read another organization's model. We may suspend an access code that is being misused and will tell you why.

8. Availability and changes

We work to keep the Service available and backed up, but we do not promise it will never be interrupted. We improve the Service continually and may change how it works; we will not remove your ability to export your model. We may change these terms by posting a new version here with its date and telling you by email or in the portal; continued use after that is acceptance of the new version.

9. No warranty

The Service is provided as it is. We do not warrant that it is free of errors, that it will meet a particular requirement of a lender, auditor or regulator, or that any result, forecast or rate will be achieved. To the extent the law allows, we disclaim all other warranties, express or implied.

10. Limit on liability

To the extent the law allows, AMKO RateWorks, LLC's total liability to the City for anything arising from the Service is limited to the fees the City paid for the Service in the twelve months before the claim, and neither side is liable to the other for indirect or consequential loss. Nothing here limits liability for fraud or for anything that cannot be limited by law. If the law that governs a public entity does not allow a clause in these terms, that clause applies only to the extent it does.

11. Governing law

These terms are governed by the law of the State of North Dakota, and the courts of North Dakota have jurisdiction over any dispute about them.

12. Contact

Questions about these terms, your data or your model: info@amkorateworks.com.