HomeMy WebLinkAboutRES 0439 •s -. ,r ., �_
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RESOLUTI�N N0. a.: 3. g�
BE TT RESOLVE"D B� THP �IT� COUNCIL. OF THE CI"s'Y OF
RENT�N,
That the Ci ty Treasurer be an d he ie hereby authoriz.ed
and directed to ad�ertise and of�er for sale �10�,000.QQ bonds
of Rent�n Wate� F�ctension Bonds I93(�' , authorized under Ordinance
� 1
Na. 88� , approved. on the 4�h day of February, 1930.
In advertising s.aid bonds for sale the City Treasurer
shall give notice that s.ealed bids for th� purchase of said bonds
will. be received by �ffi at his office address specified therein
until the Sth day of �ay ,, 1930, at the hour of 5: P.�. , and will
be hy h'+:�t publicl� opened at said place. The n�tice shall state
f�hat the denominations of such bonds shall be �500.Q0, vsrhich
denomination is herel�y fixed therefor. The notice shall further
specify the ma�urity of said bonds and the place of payment and
datee of intere.st payment� and shall state tha� the maximum
authorized rate of intereat thereon is 6� per annum, payable
semi-annually.
T11e notiEe shall state th�t the bidders shall be rer
quired �� and shall aubmit separate bid� , said bids to be with�
3ut condition, interlination or erasure and accvmp�nied by
certified checks drawn up3n national banks �r �rust companies
in sums not less than 5� of the amounts of the re�pective bids.
Said notice shall s�dte the. che�ks will be returned if the bids
be nat accepted, �therwise t� be applied by the City of Renton�
upon said b�nds and if any bid be accepted and the bidder tnere-
af ter faile to comply with the terms of such 'oid, said deposit
shall be f�rfeited to the City of Rentan as and for liquidated
damages. Any check deposited shall he returnec� to the success-
ful bidder upon hi� dep�sit with the City Trea9urer of one or
more checka certified as above described for 5� af the par value
of the bonds awarded hi�rc.
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The notice shall state that the bvnds will be deliQered
in l�fe�s York City at the fiscal agency of the S�a�e of Washington
or in the �ity of Seattle, or at the office of �he City Treasurer
of the City of Renton, at the aption of th� purchaser, and that
na bid for mcre than the maximum rate of interest which said
�
bonda shall bear will be received, and that the right zs reserved�
by the Git;� of Renton to reject any an d all bids. The said
n�tice shall further state �hat �he said bonds shall be registered
as to principal cr as ta prineipal and interest at the option of
the purch�.eer.. The notice shall etate that tne bidder9 are re-
quired to l�id upon the rate of interest that tkie bonds sha11 bear.
Such notice shali be published in a t least �wo (2� issues of the
official paper of the City� of Renton, on the same ciay in each
week, that ie to say on Thuredayof each week, and two (2} issu�s
of the Daily J'ournal of Commerce, the first ad�rertisernent to be
at least fifteen (15� days before the date fixed for the
acceptance of said bids.
�n advertising the said bonda the City Treasure� shall
incZude such inf.armati�n pert�.ining to the said isRue of bonds
~ �s shall elearly explain the aame �o the intending purcnaser anc�
shall gi�re full information ae tv the desirability of waid bon ds.
The notice shall further st�te that no bid �hall be �rith-
drawn after the eame shall have been filed with the City Treasurer
unless permis�ion so to do is first obtained from the Gity Council..
A�proved this 15th�ay af k�ril 193Q.
passe�l this � � d$y of �i�ril, 1930.
I+dayor
City Clerk
Appro�red this ��'�day of
, 1930.
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