72CITY OF MOSES LAKE
RESOLUTION NO.__72
A RESOLUTION of the City of Moses Lake
employing fflm.P. Harper & Son & Company of Seattle,
Washington to perform certain services in connection
with the issuance and sale of certain Local Improve
ment District bonds to be used to finance certain
improvements to the City including pavements,street
curbings and sidewalks,and for the payment thereof.
WHEREAS,the City of Moses Lake,Washington is desirous of making certain
additions and betterments to the pavements,street curbings and sidewalks of
said City which are to be paid for by the issuance and sale of appropriate Local
Improvement District bonds; and
Council
WHEREAS,it has been determined by the City/o&W^s^/that it is to the
best interest of the City of Moses Lake that a person or firm skilled in such
matters be employed to assist and advise the City in establishment of the financ
ing program to be followed in order to assure the sale of the L. I. D. bonds and
warrants at a price satisfactory to the City; and
WHEREAS, it Is deemed to be to the best interests of the City that it employ
7fm.P. Harper & Son & Company of Seattle,Washington as such expert advisors to
analyze the situation and prepare a study showing the financial programsavailable
to the City and,based upon its experience in the municipal bond business,to
advise and recommend the program which appears to be the most economical,feasible
and advantageous to the City; and
WHEREAS, attorneys familiar with such proceedings should be employed to render
an opinion approving the proceedings and the issuance of the L. I. D. warrants
and bonds.
Council
NOW THEREFORE,BE IT RESOLVED by the oMU^M^Jof the City of Moses Lake,
r'.'ashington as follows:
SECTION 1;That Wm.P.Harper & Son &Company of Seattle,Washington be,and
they are,hereby employed to have someone from its Municipal Department be subject
to call to attend such Committee meetings or Council meetings,or meetings with the
Consulting Engineer for the City,to advise feasible methods of financing said L.I.Ds,
to prepare suitable report and to advise the Council or Committee in connection with
its negotiations of sale of the bonds.
SECTION 2;That Wm.P.Harper & Son &Company shall employ,at their expense,
attorneys familiar Y/ith L.I.D.warrants and bonds,who are satisfactory to the City
of Moses Lake and who shall review such proceedings as are prepared in connection with
the issuance and sale of warrants and bonds and render a legal opinion,available at
the time of delivery of the warrants and bonds.
SECTION 3;That Wm.P.Harper & Son &Company of Seattle,Washington shall be
paid from funds received from the financing,a fee of 156 of the par value of the
warrants issued,provided that if for any reason the City Council shall abandon such
financing,then Wm.P.Harper &Son &Company shall be entitled to receive only the
amount of its out-of-pocket expenses which shall be approved by the City of Moses Lake.
/r Passed by the City Council April 8,1952
and approved by its Mayor.ClTpQ^-MOS^LAKE,WASHINGTON
ATTESTXj/^^^JJU z^U^-JA^
Clerk
6 Mayor
The terms of the above Resolution are agreeable to and are hereby accepted by:
WM.P.HARPER &SON &COMPANY
By .''/tt&^s,\----
DATED:fyfaj I '-^