Prior to the authorization, issuance, and subsequent validation of bonds issued under this article, the issuing authority shall have secured the legal services of a competent practicing attorney or firm of attorneys. However, in no instance shall the attorney’s fees paid for the issuance or refunding of such bonds exceed the following amounts, to-wit:
On all such bond issues the attorney’s fees shall not exceed one percent (1%) of the first one million dollars ($1,000,000.00); one-half percent (1/2%) of all over one million dollars ($1,000,000.00) and not more than two million dollars ($2,000,000.00); and one-fourth percent (1/4%) of all amounts in excess of two million dollars ($2,000,000.00).