Resolution 3725 - Intercap Form of Commitment AgreementaES01UTTON NO. 3725
MONTANA ECONPMIC DEVELOPMENT BOARD
INTERMEDIATE TERM CAPITAL PROGRAM (INTERCAP)
Exhibit 3
Form of Cuumitment Aoreement Resolution
1; RESOLUTION RELATING 10 THE MONTANA ECONOMIC DEVELOPMENT
BOARD' S INTERCAP PROGRAM ; APPROVING AND AUTHORIZING
PARTICIPATION WER&N ANU APPRO&NU WE COWTHENT ROWL"LAI
Be It Resolved By The Governing Body of Lhe City of Kalis2ell
(the Participant), as follows:
Section I . The Mon tana Economic Devel op�;ient Board ( the Board)
has established an Intermediate Terin Capital Program (INTERCAP)
pursuant to which it proposes to issue Bonds for the purpose of
financing capital projects for Montana cities and towns (Local
Government Units).
Section 2. The Board has required that the Participant evidence
its intention to participate in INTERCAP by executing and returning to
the Board a Commitment Agreement (the Agreenenty, tle forn of which
has been presented to and reviewed by the Governing Body, and a
CaDmitment Fee as defined in such Agreement.
Section 3. The Participant is authorized to participate and
hereby agrees to participate in INTERCAP in the amount and subject to
the terms and ponditions set forth in the Commitment Agreement. T h e
Mavor and --- Clerk/Treasurer are hereby
auLhorized to ex del r to the Board the CommAment Agreenent
and the Commitment, with such additions and corrections thereto as may
be approved by the City Council and the Participant's
legal counsel.
Section 4. The PartiQpaqt hereby yja�t�fie; and approves ill
lepresentations and covenarlitsocidntained in the Agreement.
Passed and adopted by the City Council of Kalispell
Montana this _4th__ day of Vor , 1937
Z064--eA
Ed Kennedy, Mayor
CERTIFICATION
The undersigned, being duly qualified and acting City Clerk -Treasurer
Of the City_of Kalispell, MT , hereby certifies that the foregoing is a
true and 'correct copy of a
resolution duly
and validly adopted by the
Kalispell City Council
at a meeting
duly caUed, noticed and
at 7:30 0 clock p
m. on May 4,
1987 at CitY Hall
Kalispell , Montana, af—which
throughout.
T quorum
was piesent and acting
Don Halver, City Clerk -Treasurer