1960-5840RESOLUTION NO. 5840
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ANAHEIM EMPLOYING O'NELVENY MYERS OF
433 SOUTH SPRING STREET, LOS ANGELES, CALI-
FORNIA TO DRAFT ALL ORDINANCES, RESOLUTIONS,
NOTICES AND OTHER DOCUMENTS REQUIRED IN THE
BOND PROCEEDINGS, TO SUPERVISE THE PROCEED-
INGS, EXAMINE THE PROCEEDINGS STEP BY STEP AS
TAKEN, AND TO ISSUE AN APPROVING OPINION TO
THE PURCHASER OF THE .BONDS IN A SPECIAL ELECTION
TO BE CALLED TO SUBMIT TO THE VOTERS PROPOSALS
FOR THE ISSUANCE OF BONDS IN THE AMOUNT OF
$12,000,000.
WHEREAS, the City Council does find and determine
that public interest and necessity require the raising of funds
for much needed public improvements for the City of Anaheim;
and
WHEREAS, the City Council does find and determine
that public interest and necessity require the calling of a
special election for the purpose of submitting to the voters
of the City of Anaheim proposals for the issuance of general
obligation bonds in the sum of $12,000,000 to obtain the neces-
sary funds to construct certain public improvements as outlined
in Resolution No. 5839; and
WHEREAS, the City Council does find that the Law Firm
of OtMelveny Myers, Bond Attorneys, should be employed to
prepare all necessary documents and to assist the City in con-
ducting said special election and to furnish an approving
opinion of the bond proceedings to any prospective purchaser
of the bonds;
NOW, THEREFORE, BE IT RESOLVED by the City Council
of the City of Anaheim that the Law Firm of Otl'ielveny Myers
of 033 South Spring Street, Los Angeles, California, be, and
they are hereby, employed to draft all ordinances, resolutions,
notices and other documents required in the bond election
proposed to be called by Resolution No. 5839, adopted by the
City Council on February 23, 1960, and to generally supervise
the proceedings, examine the proceedings step by step as taken,
and to issue an approving opinion to the purchaser of the bonds.
BE IT FURTHER RESOLVED that for these services they
shall receive 2 /l0ths of to of the amount of said bonds issued
below $1,000,000, 1 /10th of 1% on bonds issued in excess of
$1,000,000 but below $5,000,000, and 120th of 1% of the bonds
issued in excess of $5,000,000. That said bonds shall be
combined into one issue of municipal improvement bonds and sold
in not more than four sales. That the above fees shall then be
computed on the gross amount of the combined issues and one -third
thereof shall be payable upon the canvass of the election returns
and a prorata proportion of the remainder following the sale of
the bonds or a portion thereof. Should any proposition fail at
the election, the fee of said attorneys for all services in
connection with that proposition shall be $100. Should any of
the above bond issues not be sold with the rest, the fee for
that issue shall be computed separately under the above schedule.
Should the combined bond issues be sold in more than four sales,
there shall be an additional fee of $600 on each excess sale.
BE IT FURTHER RESOLVED that said attorneys shall be
reimbursed for out of pocket expenses, such as telephone,
telegraph, travel and the like, which shall be billed to the
City from time to time.
THE FOREGOING RESOLUTION is approved and signed by me
this 23rd day of February, 1960.
ATTEST:
(CL K QFE CQ�FA1 Ain
STATE OF CALIFORNIA
COUNTY OF ORANGE ss.
CITY OF ANAHEIM
I, DENE M. WILLIAMS, City Clerk of the City of Anaheim,
do hereby certify that the foregoing resolution was introduced
and adopted at a regular meeting provided by law, of the City
Council of the City of Anaheim, held on the 23rd day of February,
1960, by the following vote of the members thereof:
AYES: COUNCILMEN: Coons, Fry, Pearson, Thompson and
Schutte.
NOES: COUNC ILNEN None.
ABSENT: COUNCILMEN: None.
AND I FURTHER CERTIFY that the Mayor of the City of
Anaheim approved and signed said resolution on the 23rd day of
February, 1960.
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the official seal of the City of Anaheim this 23rd day
of February, 1960.
(SEAL)
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