Tab 14 Official Bid Formt IU1 11%./r VVVVVVVv1 t
August ' 1, 1995
City Cotmo i l Members
City Hall
Kaispell, MT
Ladies and Gentlemen.
Wft� All
,. Damon ex Ca
P6c.mmr SIP C Al :ADCO c 0171
Fixed--Inoome Department
Davidson 8uitcfing
8 Third St. No.
P.O. E30X 5015
Grit Paps, MT 59403
(40f>) 771 -4360
FAX (406) 791-7315
For $100,000 par value of legally issued and properly executed boiids of Special Improvement District
No. 341. Bonds, Series 1995, (` the Issue ") as more fully described M the Official Notice of Sale, which
otiCe of Sale is hereby made a part of this Proposal, we will pay you $97,000, plus a total premium
of � and accrued interest from the date of the Bonds to the date of deliver, to us .gin Kalispell,
Montan for bonds maturing July 1, 1.997/ 011 and dated September 1. 1995.
The first interest payment wi. be due and payable January 1, 1997. Interest will be due and parable
semi-amually each January 1 and July 1, thereafter. Bonds will b= interest as follows:
Principal
Principal
InSwIment
Installment
No.
Ainou.nt
Year
Rate
NOh
Amount.
Rate
1.
$15".000
1997
414 9,c'
9
$a ,OOO
2005
_
17
51000
1998
Al
10
5.000
2006
✓,000
1999
11-1
1.o,o00
007
4
5.000
2000
L,
13 -14
10,000
2008
5
5..Mo
2001
1 -1
1.000
2009,
6
:000
2002
JO
17 W-18
10,000
2010
c.
7
5.000
2003
,
19-- 0
10'.000
2011
6,C2
8
5 X0
2004
ts.
The net effective interest rate based upon the above var7ing rates, the maturity schedule as set forth
Pursuant to the Notice of Sale and purchase price of $97,000 of pat value is L �L45- % _
Prior to our accepting delivery of said ccuritic,you ace to frish a certified transcript of legal
proceedings requisite to their issuance and delivrery including proceedinas- required for the creation
of said Issue, and for the execution of a contract and surety bonds in the full amount of such co.ntiact.
assurma the completion of the improvements to be financed by the Bonds In accordance with the plans
and specifications and at a cost, Uicludnig all 'incidental costs, not exceed' ly the principal amount of
the Bonds in and including a si�natu.re and non-litiaation rerdficates In the customaiy fon-n to the effect
that there is no pcndm' g or threatened litigation involving tic Issue.
Members of the City Council Page two of two
This Propose is made subject to the unqualified approving legal opinion of bond attomeys to he
designated by us, as to the legality of the Bonds. as to the interest being free from federal and State
of Montana income taxes, and subject to the establishment by the City in said proceedings., the
opir ion of said attonzeys, to the maximum security for the 13onds which is perrnitted by the proNris%oW
of Title 7, Chapter 12, Part 21, Montana Code Annotated, as amended. Said ma,Xl"MUM security is to
include the adoption of a Resolution by the City agreeing to make ,rood any deficiency in the principal
and interest account to the extent funds are available and to provide ids for such Revolving Fund
by mains a tag levy and loan as is necessary to cause such. payment. The City hereby agrees to
mainmi n the Revolving Fund In an amount equal to no less than 5.00 % of ail outstanding Special
Improvement District Bonds of the City, so tong as any Bonds of this Issue are outstanding.
.
The Bonds are to be delivered to us on September 21, 1995 or thereafter at our option.
The cost of printing these Bonds and the fees of the approvhng attorneys will be paid by the City of
Kaiispell
We herewith hand you our Good Faith Check for ,000. oo as evidence of our Good Faith in
complying with the terns and conditions of this Proposal which is to apply as part payment for said
ends when the legality or security of sane has been approved by our attorneys, and to he forfeited
as fuhy liquidated damages should we fail or. refuse to take up said Bonds as above provided. Said
check is to he 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 immediate acceptance,
Respectfully submitted,
D. A. Davidson. & Co
�ohn H. Easley`�
Vice President
Accepted for and on behalf of the City of Kalispell, Montana pursuant to authonzatiea by its goVemmg
body receipt of the above-nientioned check is hereby aekewledged on this 21 st day of August, 1995,
Mayor D rector of Fimnce