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RES1139 � , { ,, x . � �. a � ...,. � :i_ � ., _ . , . • � C S`.�`.i QF �t;��"r3t ON, WASHINGTON RESOI�U'i'ION N0. �/� �f / A R�SOL��'I'IOI�� accepting the bid of Grande & Co . , Inc , of Sea'�tle, , Washington, for warrants and borids of Local Improve- ment �istrict Iso. 2�8. WHEREAS, pursuant to Ordinance Nfl . �9�+3, passed by the City Council and approved by 'the Mayor on March 5, 1952, notice af warran� and bond sale for local improvement warrants and bonds of Local Impravement District No. 2�8 was published inviting sealed proposals to be received at the office of the I City Clerk in the City Hall, Renton, Wash3.ngton, until 8.00 �'I o'clack p.m. (PST) on the 26th day of March, 1962; and I WHEREAS, three bids were submitted and filed with �he , City Clerk prior �0 8.00 o 'clock p.m. (PST} on said date, and were publicly opened by the Cit� Clerk and considered by �he City Council at a regular meeting thereof then held in the Council Chambers, said bids being as follaws. (I) By Grande & Co. , Inc . , a price of par for the I warrants and 100.09� of par f'or the bonds, plus aecrued in�er- est from the date of issue to the date of delivery, with the ^ warrants and bonds to bear interest a� a rate of �.�0� per annum, the bid representing a n.et effective interest rate of �+.38p, the City to furnish at its expense the warrants and printed bonds together with the approving legal opinion of Weter, Roberts 8c Shefelman, municipal bond counsel of Seattle; �� (2) By Southw�ck, Campbell, Waterman Co. , for �he warrants at a price af par, and Por the bonds a price of par plus a premium of $0.12 for each $100.00 par value thereof, with al1 warrants and bonds to bear interest at �he rate of �-.70°0; and � � , � . , _ ,� } � ..., t -j . . * F ' � (;;; A=y ���a_,=����:�r�'_c� IncarForatec� a price of par for taz�r ����a^r�.�r�L� a��d t� t�r:�_�;� c�f �100.05 for each $100.00 par value �z' l�onas, plus acc_��;?e�� :.+.rft�rest, with all bonds and warrants ta bear interest a� �h� :���te of �e85�, said �id representing a net effective interest rate of �.$�70; and � �EAS, said bids were referred to the committee of the City Gouncil for review and recammen,dation and said. cflmmit�ee has recommended that the bid of Grande & Co., Inc. be accep�ed since said bid appears to be the best bid received and it is f'or the bes� zn�erests of '�he City and the property �.n said Local Improvement 33istric� No. 2�8 that it be accep�ed, NOtnT, THEREFORE, I BE TT RE�OLVE�3 BY THE T+�IAYOR AND CIZ`Y COUNCIL OF THE CITY OF RENTON, WA�HINGTON, tha� the bid of Grande & Co. , Inc . of S�attle, Washington, for the purchase of all of the legally issued warrants and b�nds for Local Improvement l�istrict No . 2�8, in the estima�ed maximum amount of �182,973.72, at a price of par for the warrants and a price of 140.09a of par, plus accrued interest from the date. of issue to the date of delivery for the bonds, with al3 warrants and bonds ta bear interest a� the rate of �-.�0� per annum, is hereby accepted, and �he interest ra'ce on such warrants and bonds is hereby fixed in accordance with said bid. The vrarrants and bonds, when issued, shall therefore be sold and delivered �o Grande & Co, , Ine . , pursuant to their bid, upon paymen� theref'or as specified in said bid. ADOPTE� by the Ci�y Cauncil and AP�ROVED by the -2- s • ,� � .� L � , �. , . � � , I�Za4roi� a�' tn�� Cit� a�' Ken�c�n, Washington, at a regular meeting �hex�eo� th� 2nc� dav of '�pril, 1962 . � .. � �,� �t/ J ,--.�'��^/'"""! ! i�/fil//./P..�i'���� �' Mayor ` ATTEST: � City Clerk ' � �PPROVED AS TO FORM: I ,' � `' /// ! Ci�y Attorn�y -3-