HomeMy WebLinkAbout1190 A RESOLUTION of the City of Bremerton, Washington,
retaining counsel for certain services in con-
nection with the authorization, issuance and
sale of general obligation bonds of the city.
W~EA~, the City of Bremerton, Washington, is contemplating
the authorization, issuance and sale of its unlimited tax levy general
obligation bonds in the principal sum of $220,000 for the purpose of
providing funds to pay the cost of certain capital improvements to its
parks and playgrounds, and is also contemplating the issuance and sale
of like bonds in the princi~al sum of $55~000 to acquire park sites~
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, Starin & Ellis, 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 $220,000 of bonds and for opinion as to the validity
thereof, $650
b. For drawing all proceedings for the authorization, issuance
and sale of said $55,000 of bonds and for opinion as to the validity
thereof, 325
c. If both bond propositions carry and said bonds
are combined and sold as one issue, the above $975 shall be
reduced to $875
d. If the proposition on the $220,000 of bonds
fails to carry, 150
e. If the proposition on the $55,000 of bonds
fails to carry, 100
f. If both bond propositions fail to carry, 200
g. All out-of-pocket expenses incurred in the
performance of said services.
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 authorization, issuance and
sale of said bonds.
PASSED and APPROVED by the City Council o[ the City of
Bremerton, Washington, signed by the Mayor, and attested by the
City Clerk in authentication of such passage, this 19th day of
September, 1962.
Mayor
City Clerk