HomeMy WebLinkAbout0325 ResolutionRESOLUTION NO. o+�
A RESOLUTION of the City of Pasco, Wash-
ington, employing Blyth & Co., Pacific Northwest
Company, and Wm. P. Harper & Son & Company of
Seattle, Washington, to perform certain services
in connection with the issuance and sale of
Water & Sewer Revenue Bonds and to establish
the charges for payment thereof.
WHEREAS, the City of Pasco, Washington, is desirous of con-
structing certain additions and betterments to the water system and
constructing a sewage treatment plant of said city, which are to be
paid for by the issuance and sale of Water and Sewer Revenue Bonds; and
WHEREAS, it has been determined by the City Council that it
is to the best interests of the City of Pasco that persons or firms
skilled in such matters be employed to assist and advise the City in
the establishment of the financing plan to be followed in order to insure
the sale of the Revenue Bonds at the most advantageous price possible;
and
WHEREAS, it is deemed to be to the best interests of the City
that it employ Blyth & Co., Pacific Northwest Company, and Wm. P• Harper
& Son & Company of Seattle, Washington, (hereinafter referred to as "The
Companies") as such expert advisors to analyze the situation and prepare
a study showing the financial plans available to the City, and based upon
their experience in the municipal bond business, to recommend a plan
which appears to be the most economical, feasible and advantageous to
the City;
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of
Pasco, Washington, as follows:
SECTION I: That "The Companies" be and they are hereby
employed to make a study of the Water and Sewer Department in connection
01
with the immediate sale of. approximately $400,000 Water and Sewe
Revenue Bonds and submit suitable reports to the Council, with recom-
mendations, so that the most desirable plan of financing, may be selected,
which study and report shall include the following:
A. Analysis of the historical operating records of
the Water and Sewer Department;
B. Presentation of financial plans for providing
the necessary funds for the water and sewer system improvements with
consideration given for the future financing requirements. of the combined
systems;
C. Preparation of detailed financing plans for the
Revenue Bonds incorporating the desires of the City Council, with detailed
data of maturity schedules, bond features and covenants for the bonds to
be sold;
D.. Preparation of a report summarizing the above
data suitable for distribution to potential bond buyers.
SECTION -II: That "The Companies" shall be paid the sum
of $900.00 for the services performed pertaining hereto, which fee shall
be payable at the time of delivery of the bonds, at which time this
employment shall be considered complete. .
ATTEST: C
N
V iGi iL
DATED://1w/t,
The terms of the above Resolution areagreeable to and are hereby accepted.
DATED: /✓�� /,3
- 2 -
BLITH & CO.,
PACIFIC NOR.THdEST COMPANY
WM. P. HARPER & SON & COMPANY
By: WM. P. HARPER & SON & COMPANY
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