HomeMy Public PortalAboutResolution 29-92 Approving an agreement for bond counsel services and authorizing the mayor and city clerk to execute the same RESOLUTION NO. 29-92
A RESOLUTION OF THE CITY OF MCCALL, VALLEY COUNTY, IDAHO, APPROVING
AN AGREEMENT FOR BOND COUNSEL SERVICES AND AUTHORIZING THE MAYOR
AND CITY CLERK TO EXECUTE THE SAME
WHEREAS, the City of McCall, Valley County, Idaho (the
"City") , has determined to create a local improvement district and
to issue its local improvement district bonds for certain street
improvements and costs incidental thereto; and
WHEREAS, the City is desirous of retaining Michael C. Moore of
the law firm of Davis Wright Tremaine, of Boise, Idaho, as bond
counsel to the City for services in connection with the creation of
said local improvement district and the issuance, sale, and
delivery of bonds.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF MCCALL, IDAHO, as follows:
Section 1: The Agreement for Bond Counsel Services between
the City and Michael C. Moore of Davis Wright Tremaine, of Boise,
Idaho, a copy of which agreement is annexed hereto and by reference
made a part hereof, be, and the same is hereby, approved, and the
Mayor and City Clerk are hereby authorized and directed to execute
the same on behalf of the City.
Section 2: This Resolution shall take effect and be in force
from and after its passage and approval.
DATED this 9th day of July, 1992.
CITY OF MCALL
Valley County, Idaho
By
'.
Mayor
ATTEST:
City Clerk
AGREEMENT FOR BOND COUNSEL SERVICES
THIS AGREEMENT, made this 9th day of July, 1992, between the
City of McCall, Valley County, Idaho (the "City") , and Michael C.
Moore of the law firm of Davis Wright Tremaine, 702 W. Idaho
Street, Suite 700, Boise, Idaho 83702 ("Bond Counsel") .
Section 1: PURPOSE OF EMPLOYMENT
The City hereby employs Bond Counsel to perform and render
legal assistance and advice relative to the formation of,
confirmation of assessments for, and the authorization, issuance,
sale, and delivery of bonds (the "Bonds") to finance the improve-
ments within, proposed Local Improvement District No. 1 ("L.I.D.
No. 1") of the City for certain street improvements.
Section 2: BOND COUNSEL SERVICES
Bond Counsel shall render the following legal services:
(a) Advise the City concerning the legal requirements
applicable to the creation of L.I.D. No. 1 and the levy
of assessments to pay for the costs and expenses of the
acquisitions and improvements therein.
(b) Advise the City concerning the legal requirements
applicable to the issuance and sale of the Bonds.
(c) Provide representation of Bond Counsel, when requested by
the City, at all meetings and hearings held by the City
in connection with the creation of L.I.D. No. 1, the levy
of assessments, and the issuance and sale of the Bonds.
(d) Prepare all ordinances, resolutions, notices, and any
other legal documents necessary for the proper conduct of
proceedings for the creation of L.I.D. No. 1, the levy of
assessments therein, and for the authorization, issuance,
sale, and delivery of the Bonds.
(e) Advise with respect to the giving of statutory notices of
hearing and the conducting of such hearings as are
required by law.
(f) Provide such legal guidance and assistance, supervision,
and consultation, including advice with respect to
applicable federal income tax laws and federal securities
laws, and conduct such proceedings and provide such
opinions as may be appropriate.
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(g) Supervise the printing and delivery of the Bonds to the
purchaser and prepare all necessary closing documents.
(h) Assemble and examine a transcript concerning all
proceedings taken in connection with the issuance and
sale of the Bonds.
(i) Upon completion of the proceedings to Bond Counsel's
satisfaction, provide its legal opinion approving in all
regards the legality of all proceedings had for the
creation of L.I.D. No. 1, the validity and enforceability.
of assessments levied upon the real property within
L.I.D. No. 1, and the authorization and issuance of the
Bonds, and opining that interest on the Bonds is excluded
from gross income for purposes of federal and State of
Idaho income taxation (except for certain corporations) .
Section 3 : COMPENSATION
For rendering the services set forth in Section 2 hereof, Bond
Counsel shall receive from the District compensation in the amount
of Five Thousand and 00/100 Dollars ($5, 000.00) . Said compensation
shall be paid solely from the proceeds of such Bonds, when
available, and shall be due following delivery of the Bonds.
Bond Counsel shall also be reimbursed for direct out-of-pocket
expenses, including necessary travel and lodging expenses incurred
in attending meetings conducted by the District or other meetings
relating to the Bond proceedings, as well as long distance
telephone, special messenger or air courier service, and
photocopying expenses incurred in performance of its duties
hereunder.
In the event the Bonds are not issued, sold, and delivered,
Bond Counsel will be reimbursed only at the hourly rate normally
charged by Bond Counsel for services actually rendered, and for
direct out-of-pocket expenses incurred.
Section 4: ADDITIONAL SERVICES
Services in addition to Bond Counsel responsibilities provided
for in Section 2 above may be performed by Bond Counsel upon
specific direction of the City. For such additional services,
including, but not limited to, any litigation services, Bond
Counsel shall be compensated separately, and shall account and bill
for such services separately at the hourly rate normally charged by
Bond Counsel for the service of the attorneys performing such
work.
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IN WITNESS WHEREOF, the parties hereto have executed this
contract the day and year first above written.
CITY OF MCCALL
Valley County, Idaho
—gig OF 44
By
Mayor
ATTEST:
bAr
ASRAP:Sai-7.P
City Cler
DAVIS WRIGHT TREMAINE
By ,/ �-��w/
Michael C. Moore
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