Resolution 4027 - Participation in Intercap Program, Commitment Agreement255
RESOLUTION NO. 4027
A RESOLUTION RELATING TO THE BOARD OF INVESTMENTS' INTERCAP
PROGRAM; APPROVING AND AUTHORIZING PARTICIPATION THEREIN AND
APPROVING THE COMMITMENT AGREEMENT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF KALISPELL
(THE PARTICIPANT) AS FOLLOWS:
SECTION I. The State of Montana Board of Investments
(the Board) has established an INTERCAP Revolving
Program (the Program) pursuant to which it proposes to
issue bonds for the purpose of financing capital
projects for Montana local government units.
SECTION II. The Board has required that the
participant evidence its intention to participate in
the Program by executing and returning to the Board a
Commitment Agreement (the Agreement), the form of which
has been presented to and reviewed by the governing
body, and a commitment fee as defined in such
Agreement.
SECTION III. The participant is authorized to
participate and hereby agrees to participate in the
Program in the amount and subject to the terms and
conditions set forth in the Agreement. The City
Manager and Finance Director are hereby authorized to
execute and deliver to the Board the Agreement and the
commitment fee, with such additions and corrections
thereto as may be approved by the City Council of the
City .of Kalispell and the participant's legal counsel.
SECTION IV. The participant hereby ratifies and
approves all representations and covenants contained in
the Agreement.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF
KALISPELL, MONTANA THIS 18th DAY OF November , 1991.
ATTEST:
H. ROBERTSON
FINANCE DIRECTOR
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DOUG S D. RAUTHE, MAYOR
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