HomeMy WebLinkAboutRES 0868RT HF 7-22-54 3
RESOLUTION NO. 868
ASOLUTION of the �ity of Renton, Washington,
etaining counsel or certain work in connection
with the Cssuanc an sale of general obligation
bonds of the city.
WHEREAS, the City of Renton, Washington, is contemplating
the acquisition, construction and installation of the following im-
provements: (1) construction of a bridge over the Cedar River at
Williams Street; (2) construction of a swimming pool with all nec-
essary facilities in Liberty Park; (3) acquisition and installation
of mercury vapor street lights, traffic control signal lights and the
improvement of Park Street from First Avenue North and Bronson Way to
Fourth Avenue North by widening and paving the same; and
WHEREAS, in order to pay the cost of each of said improve-
ments the city is contemplating the issuance and sale of its unlimited
tax levy general obligation bonds in the sumsof $110,000, x$100,000 and
x$117,000 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 the issu-
ance 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 necessaryfor said election,
the issuance and sale of said bonds if all three issues are combined
as one, and for their opinion as to the validity of said bonds, $1,000.
B. For the services set forth in A above except if one
bond proposition fails to carry, $ 750•
.C. For the services set forth in A above but in the
event two bond propositions fail to carry, $ 500.
D. In the event all of said propositions fail to carry,
for services rendered up to the time of the election, $ 300.
E. In the event all of said propositions carry but the
bonds of one or more issues are sold separately, the fee fixed in
A above, plus $100 additional for each 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 per-
formance of said services, and to furnish them at their office in
Seattle 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 July 27, 1954.
ATTEST:
City Clerk
2.
CITY OF RENTON, WA INGTON
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