HomeMy WebLinkAboutCC RESO 10,553RESOLUTION NO. 10',:553
RESOLUTION EMPLOYING SPECIAL BOND COUNSEL
BE IT RESOLVED by the City Council of the City of
National City that JAMES WARREN BEEBE, a Law Corporation, with
offices at Suite 2190 Crocker Bank Plaza, 611 West Sixth Street,
Los Angeles, California 90017, be employed as special bond
counsel to render legal services to the City of National City
in connection with a pending municipal election, and a possible
senior citizens retirement home project.
BE IT FURTHER RESOLVED that the terms and conditions
of the employment of JAMES WARREN BEEBE, a Law Corporation,
shall be as stated in letters of employment by said corporation,
addressed to the National City City Council, dated January 14,
1972, copies of which are attached to this resolution and
marked Exhibit "A" and Exhibit "B" the originals of which .are
on file in the office of the City Clerk.
PASSED AND ADOPTED this 18th day of January, 1972.
ATTEST:
CITY CLERK
JAMES WARREN BEEBE
CL1F1ON E. REED
LAW OFFICES OF
JAMES WARREN BEEBE
A LAW CORPORATION
SUITE 2190 CROCKER SANK PLAZA
611 WEST SIXTH STREET
LOS ANGELES, CALIFORNIA 90017
January 14, 1972
Honorable City Council of the
City of National City
City Hall
National City, California
Gentlemen:
AREA COOE 213
TELEPHONE 680-1406
REFER TO FILE NO.
50,005-1
RECEIVED
JAN 1 l 1.72
CITY ATTORNEY
NATIC)IVAL CITY
• We have been avied by the City Attorney that
your Honorable Boy wishes to employ this firi as bond
counsel to render legal services in connection with the
authorization and issuance of general obligation bonds
of the City. We will be happy to accept such employment.
Our services will consist of the drafting of
all deou:tents required in the bond proceedings, the general
supervision of the proceedings step-by-step as taken, and
the issuance of our approving opinion to the purchaser of
the bonda.
acc
the
For these services our fee will be -c puted in
rdance with the amount of bonds issued according to
following chedule:
PrincipalAmount Pee
$250,000 to $1,000,000
$1,000,000 to $5,000,000
Over $5,000,000
$2 per thousand-
$2000 plus $1 per thousand
on excess over $1,000,000
$6000 plus 50 per thousand
on excess over $5,000,000
Arrangements have been made for the firm of
Mudge Rose Guthrie & Alexander, 20 Broad Street, New Y
New York, to render a joint approving opinion with our
firm, if such an opinion is necessary.
One-half of the above fee is payable following
the canvass of the election returns and a prorata portion
EXHIBIT "A"
LAW OFFICES OF
JAMES WARREN BEEBE
A LAW CORPORATION
Q
Honorable City Council of ti-:e -2- January 14, 1972
City of National City
of the remaining fee is payable following each sale. Should
the brads be sold in more than two sales, there will be an
additional fee on each excess sale o $200. Should the
proposition fail at the election our fee in connection with
the proposition will be one-half of the above fee, but with
a maximum of $750. In case the proceedings are abandoned
at a stage prior to one of the above computing stages, our
fee for the work prior to the date of abandonment will be
a reasonable fee based upon the time spent.
We understand that there may be more than one
general obligation bond 'proposition. Unless something
unusual appears, we see no reason why multiple propositions
cannot be combined in one ordinance calling the election
and why multiple authorizations cannot be corbined in one
or more ordinances providing for the issuance of the
bonds. To the extent that this can be done, the total
amount that has been combined will be considered a single
issue for the purpose of applying the above schedule.
In addition to the above fees we are to be
ursed for out-of-pocket expenses, such as long
distance telephone calls, telegrams, travel at the re uest
of the appropriate City officers and the like, which will
be billed to the City from time to time.
If the arrangements outlined here are satisfactory,
please adopt a minute order ma:i ng reference to this letter
and employing this fire on the terns stated herein and re-
turn to us an executed copy of this letter.
Respectfully yours,
o
s i 7arren Beebe
JWE : jw
sncis.
Pursuant to order of the City Council of the
City of National City, the firm of JAMES WARREN BEEBE, A
Law Corporation, is employed upon the terms stated in the
foregoing letter.
Attest:
City Clerk
Mayor
JAMES WARREN BEEBE
CLIFTON E. REED
LAW OFFICES OF
JAMES WARREN BEEBE
A LAW COR,ORATiON
SUITE 2190 CROCKER BANK PLAZA
611 WEST SIXTH STREET
LOS ANGELES, CALI FORN IA 90017
January 14, 1972
Honorable City Council of the
City of National City
City Hall
National City, California
tlentlenen:
AREA CODE 213
TELEPHONE 660-1406
REFER TO FILE NO.
50,005-2
Rij
JAN 49.7.?
CITY ATTORNEY
IVAT/CWAL. CITY
We have been advised by the City Attorney that
your Honorable Body desires to employ thia firm to render
legal services in connection with tha financing by a
non-profit corporation of a senior citizens residential
facility to be constructed on a City owned lot. We will
be happy to accept such emoloynnt.
Our services will consist of drafting the Articles
of Incorporation and By -Laws of the non-profit corpora-
tion, attending the first directors meeting, attending
other meetings, at the request of the appropriate City
officers, drafting the financing lease and bond indenture,
obtaining pernits necessary for the issuance of the bonds,
obtaining the necessary rulings regarding State and Fed-
eral taxes, drafting the bend sale agreement, supervis-
ing the delivery of the bonds and issuing an approving
opinion on the financing lease and the bonds.
For these legal services, our fee (assuming
one bond sale) will be computed on the basis_of the amount
of bonds issued according to the following schedule:
Principal Anount Fee
$' 000,000 to $5,000,000
$5,000,000 to $10,000.000
Mudge R
$12,500 plus$1 per
thousand on excess
over $1,000,000
$16,500 plus 75,4 per
thousand on the ex-
cess over $5,000,000
Arrangements have been made for the firia of
e Guthrie & Alexander, 20 Broad Street, New York,
EXHIBIT "B" .
LAW OFFICES OF
JAMES WARREN B EEBE
4 LAW CORPORATION
Honorable City Council of thy:
City of National City
January 14, 1972
New York, to render a joint approving opinion_ with our
firm, if such an opinion is necessary.
Should other services (such as litigation) be
re nested by the City in connection with the project, the
fee for such services will be on a time basis computed at
the rate of $60.00 por hour.
he financing proceedings will. be drafted so
that the above fees will be paid from or reimbursed to
the City from the proceeds of the bonds. Should the
bonds not be sold for any reason and the proceedings be
abandoned, our fee for the work prior to abandonment
will be a reasonable f :e based upon the t rrx spent at
tho above rate.
In addition to the above fees we are to be
rein. ursed for out -of --pocket expenses, such as long
distance telephone calls, telegrams, travel at the re-
quest of the appropriate City officers and the like. We
understand that we are to order: (1) the printing of
thenecessary documents (leases, agreements, resolutions,
etc., but not the official statement, if any), and (2)
the printing of the bonds. We will bill the City for
these expense items from times to tires, and all of these
expenses will be repaid to. the City from bond proceeds.
If tho arranger nts outlined herein are satis-
factory, please adopt a minute order making reference
to this letter and employing this firm on the terms stated
herein and return to us an executed copy of this letter.
Respectfully your
en Beebe
JWB:jw
Encls.
Pursuant to order of the City Council of the
City of National City, the firm of JAMES WARREN BEEBE,
A Law Corporation, is employed upon the terms stated in
the foregoing letter.
Mayor