HomeMy WebLinkAboutRES 0974DLH:l1h 8-14-58 3
RESOLUTION NO. % ✓ 4
A RESOLUTION of the City of Renton, Washington,
retaining counsel for certain work in connection
with the issuance and sale of general obligation
bonds of the city.
WHEREAS, the City of Renton, Washington, is contemplating (1)
the construction of a bridge over the Cedar River at Houser Way,and (2)
the construction of a bridge over the Cedar River at Wells Street; and
WHEREAS, in order to pay the cost of each of said improvements
the city is contemplating the issuance and sale of its unlimited tax
levy general obligation bonds in the sums of $1.0,000 and $110,000,
respectively; and
WHEREAS, the questions of whether or not said bonds may be
issued 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 advisable that bond
counsel skilled in such matters be retained to draw the ordinances,
notices and other documents necessary for said election and for the
issuance and sale of said bonds and to give their opinion as to the
validity of said bonds at the time of their sale;
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of
Renton, Washington, as follows:
That Preston, Thorgrimson & Horowitz, 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:
(a) For drawing all proceedings necessary for said
election, the issuance and sale of said bonds if both
issues are combined as one and for their opinion as to
the validity of said bonds, $700.00.
(b) For the services set forth in (a) in the event one
bDnd proposition fails to carry, $500.00.
(c) In the event both of said propositions fail to
carry,for services rendered up to the time of the election,
$250.00.
(d) In the event both of said propositions carry, but
the bonds are sold separately, the fee fixed in (a) above
plus $100.00 additional for the separate sale.
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 said services and to furnish them at their office in
Seattle, Washington, with a 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 and approved
by its Mayor at a regular Council meeting held on August 19, 1958•
ATT , T
X
City Clerk
OF IRENTTO/�, WASHINGTON
By �-�-
Mayor
2.