Resolution 3931 - Authorizing Participation in Intercap ProgramRESOLUTION NO. 3930 TABLED 4/16/90
(PRELIM. PLAT GLACIER PARK PLAZA)
RESOLUTION NO. 3931
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 AS
FOLLOWS:
SECTION I. The State of Montana Board of Investments (the
Board) has established an Intermediate Term Capital Program
(INTERCAP) 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 INTERCAP 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 eeUy agrees to participate in INTERCAP in the amount
and subject to the terms and conditions set forth in the
Agreement. The Mayor and City Clerk -Treasurer 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 7th DAY OF MAY, 1990.
ATTEST:
Amy H./Robertson
City Clerk -Treasurer
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