HomeMy WebLinkAboutRES 1064 �
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RESOLUTION NO. ����
A RESOLUTION of the City of Renton, Washington,
ret�ining counsel for certain services in
connection with the authorization, issuance
and sale of general obligation bonds of the
city.
WHEREAS, the City of itenton, Washington, has adopted
an ordinance authorizing the issuance and sale of its unlimited
tax levy general obligation bonds for the following purposes
and in the following amounts:
A. Arterial street improvement bonds, $1, 300,000
B. Burnett Street improvement bonds, $120,000
C. Traffic signal system bonds, $3.00,000
and
WHER�AS, th� Constitution and laws of the State of Wash-
ingston r�quire that the questions of whether or not such bonds
may be issued and sold for such purposes must be submitted to
the qualified electors of the city for their ratification or
rejection; and .
WHEREAS, it is deemed necessary and to the best inter�sts
of the city that bond counsel ski].led in such matters be retained i
to draw the ordinances, no�ices and other documents necessary for
the authorization, issuance and saie of said bonds (said counsel I
have already dsawn the above-mentioned election ordinance) and
to give their opinion as to the validity thereof at the time of
their sale or sales;
NOW, THEREFORE, BE IT RESOLVED by the Council of the City �
of Renton, Washington, as follows:
That Preston, Thorgrimson & xorowitz, attorneys at law of
Seattle, Washington, be and they are hereby retained to perform
the services above set forth and as compensation therefor the
city agrees to pay them as follows:
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A. For drawing all procee dings for the authorization,
issuance and sale o� sa3d $1,300,000 of bonds and for opinion
as to the validity thereof, $1,750
B. For drawing all proceedings for the authoriza-
t�.on, issuance and sale of said $120,000 oE bonds and
for opinion as. to the validity thereof $425
C. For drawing all proceedings for the authoriza-
tion, issuance and saZe of said $100,000 of bonds arid
for opinion as to the validity thereof $400
D. If the propositions for the bonds mentioned �
�.n subparagraphs B and C immediately above carry and
said bonds are combined arid sold as one issue, the above
$825 shall be reduced to $750 I
E. If any of said propositions fail to carry, for
each proposition not carrying $100
F. zf a13. propositions fail to carry $250
In addition to the above, the city agrees to reimburse said
counsel for any out-of-pocket expenses which they may incur in
the performance of the above-meMtioned services and to furnish '
said counsel at their office in Seattle, Washington, with a r
complete certified transcript of all proceedings taken in
the matter of the issuance of said bonds.
PASSED by the Council of the City of Renton, Washington,
and approved by its Mayor at a regular meeting of said Council I
he�d this 27th .day of September, 1964. �I
CITY/OF�.RENTON,, WA �NGTON
By i .��� ,i.�„���,,,�� �
A�TES : Mayor
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�oved as t� f o •
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' `' C ity Attorney �
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