Tab 04 Resolution No. 5120CERTIFICATE AS TO RESOLUTION AND .ADOPTING VOTE
I, the undersigned, being the duly qualified and acting recording officer of the City of
Kalispell, Montana (the "City"), hereby certify that the attached resolution is a true copy of a
Resolution entitled: "RESOLUTION RELATING TO SPECIAL IMPROVEMENT DISTRICT
NO.344 BONDS, SERIES 2006; AWARDING THE SALE THEREOF AND APPROVING
CERTAIN MATTERS WITH RESPECT THERETO" (the "Resolution"), on file in the original
records of the City in my legal custody; that the Resolution was duly adopted by the City
Council of the City at a special meeting on June 13, 2006, and that the meeting was duly held by
the City Council and was attended throughout by a quorum, pursuant to call and notice of such
meeting given as required by law; and that the Resolution has not as of the date hereof been
amended or repealed.
I further certify that, upon vote being taken on the Resolution at said meeting, the
following Council Members voted in favor thereof: Bob Herron,...Rany Kenyon, Tim Kl.uesner,
Duane Larson Hank Olson and Mayor Pamela B. Kennedy ; voted against the same: None ;
abstained from voting thereon: None ; or were absent: Jim Atkinson Iari Gabriel and Bob
Hafferman .
WITNESS my hand and seal officially this 13th day of June, 2006.
(SEAL:)
)A Theresa White
s City Clerk
RESOLUTION NO.5120
RESOLUTION RELATING TO SPECIAL IMPROVEMENT DISTRICT NO. 344 BONDS,
SERIES 2006; AWARIIING THE SALE THEREOF AND APPROVING CERTAIN MATTERS
WITH RESPECT THERETO
BE IT RESOLVED by the City Council (the "City Council") of the City of Kalispell, Montana
(the "City"), as follows:
1. This City Council on April 3, 2006 adopted Resolution No. 5111 providing for the public
sale of Special Improvement District No. 344 Bonds, Series 2006 (the "Bonds"), in an original aggregate
principal amount of $4,520,000, to finance the costs of certain local improvements to be undertaken in or
for the benefit of the properties within Special Improvement District No. 344. The notice of Bond sale
(the- "Notice of Sale") has been duly published. by the City in The Daily Inter Lake in accordance with
Montana Code Annotated, Sections 7-12-4204, 7-7-4252 and 17-5-106. Pursuant to the Notice of Sale, 1
(one)bid for the purchase of the Bonds were received at or before the time specified for receipt of bids.
The bids have been opened and publicly read and considered, and the purchase price, interest rates and
true interest cost under the terms of each bid have been determined.
2. The bid of D.A. Davidson & Co. (the "Purchaser") to purchase the Bonds, is hereby
determined to comply with the Notice of Sale, and to be the lowest, most reasonable bid for the purchase
of the Bonds and representing the lowest true interest cost (TIC). The bids of the Purchaser and the other
bidders are listed in Exhibit A attached hereto and made a part hereof. The bid of the Purchaser is hereby
accepted by the City Council and the sale of the Bonds is hereby awarded to the Purchaser. The bid
security of the Purchaser shall be retained by the City pending delivery of the payment for the Bonds and
the bid security of all other bidders shall be promptly returned.
3. The Mayor and the City Clerk are hereby authorized and directed to execute a bid form or
purchase contract for the Bonds with. the Purchaser.
4. The Preliminary official Statement relating to the Bonds, dated May 31 -.-- , and
together with any addendum or final official statement thereto (the "official Statement"), is hereby
approved and the determination of the City officials that the official Statement has been deemed final for
purposes of SEC Rule 15c2-12(b)(1) is hereby ratified and confirmed. The officers of the City are hereby
authorized and directed to execute such certificates as may be appropriate concerning the accuracy,
completeness and sufficiency of the official Statement and to deliver to the Purchaser- within seven (7)
business days after the date of adoption of this resolution copies of the official Statement in accordance
with the Notice of Sale, supplemented so as to contain the terms of the Bonds as set forth in this
resolution and the reoffering and other information provided by the Purchaser for inclusion in the official
Statement. {
5. This City Council shall prescribe the form and security for the Bonds in a subsequent
resolution to be considered on June 19, 2006.
PASSED AND ADOPTED. BY THE CITY
THIS 13TH DAY of JUNE, 2006.
Theresa white
City Clerk
OF THE CITY OF KALISPELL, MONTANA,
010PICIAL BID FORM
$49520,ao0
CITY OF RALISPELL9 MONTANA
SPECIAL IMPROVEMENT DISTRICT NO.344 BONUS, SERIES 2006
City Commission
City of Kalispell, Montana
312 l "t Avenue East
P.O. Box 1997
Kalispell, Montana 59903
Pursuant to the provisions contained in the Notice of Bond Sale dated April 3, 2006, (the "Notice of Sale")
for the purchase of $4,520,000 principal amount of your City of Kalispell, Montana, Special Improvement
District No. 344 Bonds, Series 2006 (the "Bonds'), we hereby offer to purchase all of the Bonds from you at
the price of$ ��l &00. which amount is not less than $4,429,600 (98.0%)(for-'a discount of
$90,400), plus accrued interest, 1f any, plus a prenuum of $.
the Bonds to bear
interest at the rates set forth opposite the years and amounts as follows:
Year
Principal
Amount
Interest
Rate
Year
Principal
Amount
Interest
Rate
2007
$225,000
0-7� �%a
2017
$225,000
%
2008
2251A0
3-So %
2018
225,000
%
2009
225,000
03, %
2019
2255000
%
2010
225,000
°fa
2020
225,000
°o
2011
2012
225,000
225,000
(100 %
%
2021
2022
225,000
225,000
- %
%
2013
225,00o
%
2023
230,000
%
2014
2251000
%
2024
2301>000
1 / 0 %
2015
225, 000
° a
aka
2025
23 0,000
� %
Z70/0
2016
2251P000
2026
2301.5000
Desi anon of Term Maturities: -(Years
included in
Term Maturities, if
The following is submitted not as part of this bids but for informational purposes, and is subject to
verification prior to award:
Total interest from June 15, 2006 to maturity ....................: $ a, a g 4/. -12 5ue-
if an901
Plus discount, T......•r.a.....•....•..r..a......r►►r ...... a. w....►.....$ ....
Lesspremium, if an ................................................... a....... $'
P � y
;7S4w>,.Total Dollar Interest Cost .................................................... $. .
True Interest Cost C"TIC") .................... ►.. ... ............
Bidders have the option of combining the Bonds maturing on and after 2007 through and including 2013 and on and after 2014
through and including 2026 into one or more tern bonds as described in the Notice of Sale.
Enclosed herewith is a good faith deposit in the form of lawful money of the United Mates, cashier's check,
certified check, bank money order or a bank draft drawn and issued by a federally chartered or state
chartered bank insured by the Federal Deposit Insurance Corporation or a financial surety bond in the
amount of $90,400 payable to the order of the "City of Kalispell, Montana" to be held and disposed of by
you as provided in the Notice of Sale. This bid must be accepted in its -entirety within the time provided in
the Notice of Sale and if not 'so accepted by you within such time shall be deemed to have been rejected.
This bid shall remain irrevocable -until the expiration of such time unless sooner rejected by you.
Each of the Bidders listed below: (i) acknowledges receipt of the Preliminaiy official Statement dated
May 31, 2006 and the Notice of Sale dated April 3, 2006 (ii) represents and warrants that it has full power
and authority to make this bid and to purchase the Bonds if this bid is accepted; (iii) agrees that the validity
and interpretation of this bid shall be governed by the laws of the State of Montana; and (iv) acknowledges
that bids may be transmitted electronically through Parity in accordance with the terms and conditions of
the Notice of Sale and that to the extent any instruction or directions set forth in Parity1m conflict with the
Terms and Conditions of Sale,, the terms of the Terms and Conditions of Sale shall control. In the event the
Bidders are acting through a Rep res entati v e(s;, each of the undersigned Repres entativ e(s) warrants that it
has the necessary power and authority to act on behalf of each of the Bidders.
Respectfully submitted this 13thday of June, 2006,,
1 �
,
As Representative(s) of the persons, firms and/or corporations named below:
SELLING GROUP/
SYNDICATE: 1. � � 3.
4.
Ac ceand on behalf of the. City of Kalispell, Montana as of June 13, 2006:
2BY. .. ATTEST:
Pamela B. Kenn 0,Mayor �. Theresa white, City Clerk