HomeMy WebLinkAbout1616 RESOLUTION NO. 1616
A RESOLUTION of the City of Bremerton, Washington,
retaining counsel for certain services in connection
with the issuance and sale of general obligation
bonds of the city.
WHEREAS, the City of Bremerton, Washington, is contemplating
the issuance and sale of its unlimited tax levy general
obligation bonds in the principal sum of $1,485,000.00 for
the purpose of providing costs of acquiring open-space park
area and comprehensive improvement of parks and recreation
facilities within the City of Bremerton; and
WHEREAS, the Constitution and laws of the State of
Washington require 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 interests
of the city that bond counsel skilled in such matters be
retained to draw the ordinances, notices and other documents
necessary for the authorization, issuance and sale of said
bonds and to give their opinion as to the validity thereof at
the time of their sale;
NOW, THEREFORE, THE CITY OF BREMERTON DOES RESOLVE:
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 for the authorization,
issuance and sale of said $1,485,000.00 of bonds, and for
opinion as to the validity thereof, $2,235
B. If the proposition fails to carry $0 $ ~--~'
C. All out-of-pocket expenses incurred in the
performance of the above services.
D. The fee of $2,235. only shall be paid if the bonds con-
templated are sold at one time. There shall be charged an additional
fee of $300.00 for each additional bond sale until the bonds are sold.
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In addition to the above, the city also agrees to
furnish said counsel 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 and APPROVED by the City Council of the City
of Bremerton, Washington, signed by the Mayor and attested by
the City Clerk in authentication of such passage this 20TH
day of September, 1974.
ATTEST:
G. C. YEADON, SR., City Clerk