Tab 14 Official Bid FormP, 02
October 16, 1995
City Council Members
City Hall
Kalispell, ITT 59901
Ladies and gentlemen:
Fixes -Income Depanmerrt
Davidson aufidit
6 'third St. No.
Great Falls, MT 59403
PAX (406) 1-7315
For $209,000 par value of legally issued aW properly executcd bonds of Kalispell Special frnproyemcnt
District No. 342, Series 1995 (the ,Issue") as more fully deseribed in the official Notice of Sale, which
Notice of Sale is hereby rnade a part of this Proposal, we wUl pay you $20.2.,730, plus a. toW premium
of and accrued interest from. the date of the Bond to the date of delivery to us iu Kalispell,
MonWa for bonds matur"Ing July I � 1997/2008 and dated November l , 199,.
The first interest will be due and payable J anuaq 1, 1997. Interest will be due and payable
serniannua ly each. January 1 ar,, Jule 1, thereafter. Bonds vi l l bear interest as follows:
DATE
AMOUNT
RATE
DATE
AMOUNT
RATE
19917
$9,000
4.50
2005
$15,000
6. %
1998
10a Q0o
4.7.E
2006
15,000
6.10
1999
10,000
5.00
2007
15�000
6.1.E
2000
109000
5.20
2008
15,000
6.20
2001
1(OW
5.40
2009
20,000
6.25
2002
10-Y000
5.60
2010
2 fWO
6.25
2003
15,E
5.75
2011
200
6.25
2004
15,0
5.90
The net effective interest rate based upon the a'oje varying rates, the maturity schedule as set forth
pussuant to the Notice of Sale and purchase pn'ee of $202,730 of par value is 6.3401 %
Prior to our aocepting dieIivery of said Securities, you agree to furnish acertified tranwript of legal
praceedi s requisite tc their �s�ce and delivery, including pr�dings requ#red for the creation of
said Issue, and for the execution of aontract and suety finds the fill amount of such contractr
assuring the completion of thci-mPruvemenls to be fluanced by the Bonds in accordance with the plans
and specifications and at a cost, including all incidenW costs. not exceeding the principal amount of
the Bonds in and including a suture and non -litigation cerfficates in the customary form to the effect
that there .%s no pending or threatened Iitigadon involving the Issue.
VZ
zc
SENT BY:
l0-2Q95
15 =10 CITY OF KAL I SPELL- 40654308634 # 3/ 3
This Proposal is made subject to the unqualified approving legal opinion of bond attorneys tc be
designated by us, as to the legality of the Bonds, as to the interest being free from Federal and Mate
of Montana income taxes, and subject to the establishment by the City in said proceedings of the
maximum security for the Bonds which is pennitted by the provisions of Title 7, Chapter 12, Part 21,
Montana Code Annotated, as amended. Said rnaxhum security is to include the adoption of a
Resolution by the City agreeing to make good any deficiency in the principal and interest account to
the extent funds are available and to provide funds for such Revolving Fund by making a tax levy and
loan as is necessary to cause such payment. The City hereby , agrees to maintain the Revolving Fund
in an amount equal to no less than 5.00 % of all outstanding Special Improvement Bonds of the City,
so long as any bonds of this issue are outstanding.
The Bonds are to be delivered to us on December 1, 1995 or thereafter at our option.
We herewith hand you our Good Faith Cbeck for $2,000 as evidence of our Good Faith in complying
with the terms and conditions of this Proposal which is to apply as part payment for said Bonds when
the legality or security of same has been approved by our attorneys, and to be forfeited as fully
liquidated damages should we fail or refuse to take up said Ponds as above provided. Said cheek is
to be returned to us if this Proposal is not accepted, or if the above attorneys should decline to approve
the legality or security of this issue. This offer is for inunediate acceptance.
Respectfully subrrukted,
D .A. Davidson & Co.
7on H. Easley
Vice President
Accepted for and on behalf of the City of Kalispell, Montana pursuant to aut.hari�ation by its governing
body receipt of the above -mention check is hereby acknowledged on this i 6th day of October, 1995.
A
ector of Finance