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HomeMy WebLinkAboutRES 2451 CITY OF RENTON, WASHINGTON RESOLUTION NO. 2451 A RESOLUTION of the City Council of the City of Renton, Washington, accepting the bid of SEATTLE NORTHWEST SECURITIES CORPORATION for $2 , 300, 000 par value of "Limited Tax General Obligation Bonds, 1982, " of the City; fixing the interest rates on those bonds ; and providing for the immediate printing, execution, delivery and sale of those bonds and the return to the unsuccessful private bidders of the checks deposited by them with their bids . WHEREAS , pursuant to Ordinance No. 3620 passed by the City Council of the City of Renton, Washington (the "City" ) , on April 12 , 1982 , Notice of Bond Sale calling for sealed bids for the purchase of $2, 300, 000 par value of "Limited Tax General Obligation Bonds, 19.82" (the "Bonds") , of the City was duly published as required by law; and WHEREAS , Two (2) bids were submitted and filed with the City Clerk in her office in the City Hall, 200 Mill Avenue South, Renton, Washington, prior to 11 : 00 a.m. , local time, on May 3 , 1982, copies of which bids are attached and made a part hereof by this reference; and WHEREAS , the City Council deems that the bid of Seattle Northwest Securities Corp. is the best bid received and that no better bid could be received for the Bonds and that it is for the best interest of the City that such bid be accepted; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, as follows : Section 1 . The bid submitted by Seattle_Northwest Securities Corp. of Seattle, WA for the purchase of the Bonds at a price of par (plus a premium of $ None ) , plus accrued interest from date of issuance to date of delivery of the Bonds, bearing the interest rates with respect to the bond maturities as shown on its bid attached to this resolution, is accepted; the interest rates on the Bonds are fixed in accordance with that bid; and the City Clerk is directed to have the Bonds printed and executed immediately. The Bonds shall thereupon be sold and delivered to the purchaser pursuant to its bid upon payment therefor at par (plus the premium bid) , plus accrued interest from the date of the Bonds to their date of delivery. In connection therewith, a certified copy of the transcript of proceedings pertaining to the issuance of the Bonds shall be furnished to Roberts & Shefelman (Roberts, Shef elman, Lawrence, Gay & Moch) so that their approving legal opinion may be obtained for delivery to the purchaser in compliance with the requirements of the Notice of Bond Sale and of the bid. The City Clerk is authorized to return to>. the unsuccessful bidders the checks deposited by them with their bids. The foregoing resolution was ADOPTED by the City Council of - 2 - ♦>Y the City of Renton, Washington, at a regular open public meeting thereof this 3rd day of May, 1982 . DELORES A. MEAD, Ci Clerk APPROVED by the Mayor this 3rd day of May, 1982 . BARBARA Y. S INPOCH, Mayor FORM APPROVED: City Attorney 3