RES 51-01 COUNSEL FOR REVENUE AND BONDSaT HF 5-16-51 3
RESOLUTION NO. ~'
A RESOLUTION of the Town Council of the Town of Winslow,
Washington, employing counsel for certain services in
connection with the issuance and 8ale of water revenue
and ~eneral obligation bonds of the to~n.
WHEREAS, the Council of the Town of Wlnslow is contemplating the
submission to the qualified electors of the town of a proposition of
whether or not it should construct and install a water supply and dis-
trlbution system for the town and all of its inhabitants and, to pay
the co~t thereof, issue its ~eneral obligation bonds in the principal
sum of ~30,000 and its water revenue bonds in the principal sum of
~155,0o0; and
WHEREAS, if said proposition carries, it appears necessary that
the town immediately construct and install a portion of said system and,
to pay the cost thereof, that it issue and sell said general obligation
bonds and approximately ~100,000 of said water revenue bonds; and
WEEAS, it is deemed necessary and advisable that bond counsel
skilled in such matters be retained by the town to draw all the docu-
ments, ordinances, resolutions, and notices necessary for said election
and for the issuance of said bonds, and to deliver their legal opinions
as to the validity of s~id bonds to the purchasers thereof at the time
of their' sale;
NOW, THEREFORE, BE IT RYESOLVED by the Town Council of the Town of
Winslow, Washington, as follows:
That Preston, Thorgrlmson & Horowit~attomeys at law of Seattle,
Washington, be and they are hereby retained to perform the services
above set forth, and as compensation therefor the town a~rees to pay
them as follows:
A. For drawing all ordinances, resolutions, notices, and other
documents necessary for the above mentioned election and if the
election fails to carry or if the bonds cannot be sold, $300
B. If the election carries and in addition to the $300
provided in "A" above, for drawing all proceedings necessary
for the issuance of approximately $100,000 of said water revenue
bonds and for opinion as to validity of the same, $~00
C. If the election carries and in addition to the $300
provided in "A" above and the e~O0 provided in "B" above, for
drawing all the proceedings necessary for the issuance and sale
of S30,000 of general obligation bonds and for opinion as to
vs. lidity of the same, $200
D. In addition to the amounts provided for in "A", "B"
and "C" above, for drawinn all proceedings necessary for the
issuance and sale of the remaining ~55,000 of water revenue
bonds authorized and for opinion as to the validity of the
same, ~250.
(In the event this $55,000 of water revenue bonds i8
divided and issued in different amounts at different times,
8aid fee of $250 shall be proportioned accordingly.)
In addition to the above, the town agrees to reimburse said
counsel for any out-of-pocket expenses such as long distance telephone
tolls which they may incur in the performance of said services, and to
furnish said counsel at their office in Seattle, Washington, wi~h a
complete certified %ran~crip~ of all proeeeding~ taken in ~he ma~er
-- of the issuance of any and all of said bonds.
PASSED by the Counoll of the Town of Winelow, Washington, and
aperoved by its Mayor this __ day of May, 1951-
ATTEST:
Town
MayoP
I, , Clerk of the Town of Winslow,
WashZngton, do hereby certify that the foregoing is a true and correct
cooy of Resolution No. of said town, dul adopted by its Council
and aDDroved by its Mayor on the ~ day J~ 1951~
Town Clerk