Resolution 3725 - Intercap Form of Commitment AgreementES01UTTON NO. 3725
MONTANA ECONPMIC DEVELOPMENT BOARD
INTERMEDIATE TERM CAPITAL PROGRAM (INTERCAP)
Exhibit 3
Form of Cornmitrnent Agreement Resolution
A RESOLUTION RELATING TO THE MONTANA ECONOMIC DEVELOPMENT
BOARD'S INTERCAP PROGRAM; APPROVING AND AUTHORIZING
PARTICIPATION WER&N ANU APPRJ°l NU WE i;DWiHEN ttOWL"LAI
Be It Resolved By The Governing Body of the city of Kalil ell
(the Participant), as follows:---'
Section I. The Montana Economic Developr,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 Agreement)•, the forrn 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 theamount and subject to
the terms and conditions set forth in the Commitment Agreement. The
Ma or and Clerk/Treasurer are hereby
authorized to execute and deliver to the Board the CommAment Agreement
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 Pa.rtirjparLt hereby .ratifies and approves ill
representations and covenants contained in the Agreement. n_
Passed and adopted by the City Council of Kalispell
Montana this 4th day of Mauer , 1987 .
Z064--eA
Ed Kennedy, Mayor
CERTIFICATION
The undersigned, being duly qualified and acting City Clerk -Treasurer
Of the Cit 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 called, noticed and
he d at 7:30 o`clock p
.m. on May 4,
1987 at city Hall
Kalispell , Montana, ai
throughout.
which a quorum
was present and acting
Don Halver, City Clerk -Treasurer