Loading...
Resolution 3369 - Call for Public Hearing - Proposed Buttrey's Project8 �, RESOLUTION NO. 3369 RESOLUTION CALLING FOR A PUBLIC HEARING ON A PROPOSED PROJECT UNDER TITLE 90, CHAPTER 5, PART 1, MONTANA CODE ANNOTATED BE IT RESOLVED by the City Council of the City of Kalispell, Montana, as follows: Section 1. Recitals. 1.01 The City is authorized by Title 90, Chapter 5, Part 1, Montana Code Annotated (herinafter, the Act), to' acquire, whether by construction, purchase, devise, gift or lease, or any one or more of such methods, projects consisting of any building or other improve- ments, and all real and personal properties deemed necessary in connec- tion therewith, whether or not now in existence, or to loan funds for the purpose of such projects, which projects shall be suitable for use for commercial facilities. To defray the cost of acquiring and improving any such project or to provide funds for such loans, the City is authorized by the Act to issue its revenue bonds or notes and sell such bonds or notes at public or private sale in such manner and at such time as may be determined by this Council to be most advanta- geous. Such bonds or notes are to be secured by such security devices as may be deemed advantageous by the City. 1.02 A proposal has been presented by Buttrey Food Stores, a division of Jewel Companies, Inc., (the "Company"), to this Council .that the City, acting pursuant to and in accordance with the Act, auth- orize the issuance of revenue bonds or notes of the City in an amount presently estimated to be approximately $1,500,000, the proceeds of which will be used to acquire certain real property, to construct, remodel, and expand the Company's existing facility, to make related site improvements and to equip, such facility for operation of a com- mercial retail food and drug supermarket. 1.03 Under the provisions of the Act, any bonds so issued by the City shall be limited obligations of the City, and the bonds and interest coupons shall not constitute nor give rise to a pecuniary liability of the City or a charge against its general credit or taxing powers. Section 2. Public Hearing. Section 90-5-104, Montana Code Anno- tated, requires that prior to the issuance of any bonds under the auth- ority of the Act, this Council shall give notice and hold a public hearing on the proposed project. Pursuant to such authority, a public hearing on the proposed project is called and shall be held on Ootobor 5 , 1981 at 7:30 o'clock p.m. at the Council Cham- bers in the City Hall, in Kalispell, Montana. Section 3. Form of Notice. The notice of the public hearing shall be in substantia ly the following form. NOTICErig+• >s ON A PROPOSED PRWEcT AND THE iM OF INDUSTR1AL'DEVELOPMERr REVENUE I UNDER T= 90, CHAPTER 5, PART I !NTANh CODE I ! E1 CITY of KALISPELL, MaqMNh w3� 1S r i;wy r_TUM +-h-at i-1,e City {'Until of Kalispell, Montana will meet on .. oct. 5, 1981 at 7:30 o'clock _��.m., at the Council ChaniDers in the City Hell in Kalispell, Montana, for the purpose of holding a public hearing on a proposed project under Title 90, Chapter 5, Pat 1, Montana Code Annotated. The proposed project will - consist of 'certain real property, construction, remodeling and expansion of Buttrey's existing Kalispell facility, to make related site improve- ments and to equip such facility to be used as a retail food and drug supernarket at a cost presently estimated to be approximately $1,500,000.00. Funds for this purpose will be provided by the issuance of revenue bonds or notes of the City under Title 90, Chapter 5, Part 1, Montana Code -Annotated , which bonds will be secured by such security as may be deemedadvisable. The bonds shall be special limited obligations of the city payable solely from revenues derived from the project and the bons and interest coupons shall not constitute nor give rise to a pecuniary liability of the City or a charge against its general credit or taxing powers. The bond proceeds will be loaned to Buttrey Foods Stores, a division of Jewel Carpanies, Inc., or their designee which will be a related entity which will pay net amounts at least sufficient to pay the principal of and interest on the bands when due. and place. All persons interested may appear and be heard at said time 577.mn Sept. 8, 1981 BY ORDER OF THE CITY CO=III Marjorie Giamnann , Clerk Council Publish: Sept. 11, 1981 Section 4. Publication of Notice. The City shall cause the notice to be published in a newspaper of general circulation in the City at least once a week for three consecutive weeks prior to the date set for the hearing, the last such publication being at least seven days before the date of the hearing, excluding the day of publication. . Section 5. PreliminaU Approval. The acquisition and construc- tion of the project and the issuance of the Industrial Develognent Revenue Bonds or Notes in the apprrcximate amount of $1,500,000 is here- by found to be in the public interest and is hereby preliminarily approved and authorized and the company is authorized to corzrrence the acquisition and construction of thelproject, subject to the following: (a) A public hearing on the Project and Bonds, to determine if there is any adverse public opinion to the Project; and (b) the city shall have no liability or obligation with respect to or as a result of the camience- ment of acquisition or construction of the project or the failure or refusal of the City to issue the bonds or notes and the Company shall save and hold the City harmless with respect to the project an bands; and (c) Subsequent to the Public Hearing, the payment by the Company either directly or through the City of any and all costs incurred by the City in con- nection with the Project whether or not the Project is carried to completion and whether or not the bons are executed. W359 Section 6. The adoption of this resolution does not consti- tute a guarantee or a firm conutitment that the City will issue the bonds as requested by the Applicant. The city retains the right in its sole discretion to withdraw from participation and accordingly not issue the bonds should the City at any time prior to the issuance thereof determine that it is in the best interests of the City to not issue the bonds or should the parties to the transaction be unable to reach agreement as to the terms and conditions of any of the docLmients required for the traansction. PASSED AND APPROVED BY THE CITY COUNCIL OF KALISFELL, YDNTANA This 8th day of September 1981. r �r } Attest-' +� 1 e� v s .Clerk Council Marjorie Gierman_n (SEAT, OF CITY) 1 Mayor Norma E. Rapp I, the undersigned, City Clerk of the City of Kalispell certify that the foregoing is a true copy of the Resolution pass d by the ity Council of the City of Kalispell, Montana at a reguax meeting held City CYIk of the City of Kalispell