5. Certificate and Receipt of Interim CM & FDFirst Draft
August _, 2025
$168,386
City of Kalispell, Montana
Special Improvement District Bonds
(Special Improvement District No. 348 (Green
Acres Community Improvement))
Subordination Lien Taxable Series 2025A
$175,000
City of Kalispell, Montana
Special Improvement District Bonds
(Special Improvement District No. 348 (Green
Acres Community Improvement))
Tax -Exempt Series 2025B
CERTIFICATE AND RECEIPT OF
INTERIM CITY MANAGER AND FINANCE DIRECTOR
August 27, 2025
We, the undersigned, being the duly qualified and acting Interim City Manager and Finance
Director of the City of Kalispell, Montana (the "City"), hereby certify and acknowledge that on the date
of this instrument, we received from the Department of Natural Resources and Conservation of the State
of Montana (the `'DNRC"), as purchaser thereof (the "Purchaser"), the amount of (i) $10,000 as the first
advance of principal of the City's $168,386 Special Improvement District Bond (Special Improvement
District No. 348 (Green Acres Community Improvement)), Subordinate Lien Taxable Series 2025A (the
"Series 2025A Bond"), and (ii) $8,751 as the first advance of principal of the City's $175,000 Special
Improvement District Bond (Special Improvement District No. 348 (Green Acres Community
Improvement)), Tax -Exempt Series 2025B (the "Series 2025B Bond;" and together with the Series 2025A
Bond, the "Series 2025 Bonds"). The Series 2025A Bond bears interest at a rate of two percent (2.00%)
per annum, subject to a reduction to zero percent (0.00% percent) per annum upon delivery by the City of
a Compliance Certificate and Request. The Series 2025B Bond bears interest at the rate of two percent
(2.00%) per annum. In addition, the City will pay an Administrative Expense Surcharge and a Loan Loss
Reserve Surcharge to DNRC on the outstanding principal amount of the Series 2025A Bond and the
Series 2025B Bond, each at the rate of twenty-five hundredths of one percent (0.25%) per annum;
however, the Series 2025A Bond shall not incur an Administrative Expense Surcharge and a Loan Loss
Reserve Surcharge if the City has provided to the DNRC a Compliance Certificate and Request.
As Bond Registrar designated under Resolution No. 6274 adopted by the City Council of the
City, on August 4, 2025, authorizing the issuance of the Series 2025 Bonds, the undersigned Finance
Director further certifies that, on the date hereof, the Bond Registrar has authenticated and delivered the
Series 2025 Bonds to the Purchaser. The undersigned Finance Director further certifies that the Series
2025A Bond and the Series 2025E Bond so authenticated and delivered were registered, on the face
thereof and also in the bond register maintained by the Bond Registrar, in the name of the Purchaser.
#4897-4018-0831 v2
WITNESS our hands officially as Interim City Manager and Finance Director to this
CERTIFICATE AND RECEIPT as of the date and year first written above.
CITY OF KALISPELL, MONTANA
By
Its Interim 6ty Manager
By 61'
Its Finance Director
(Signature Page to Certificate and Receipt — Kalispell Special Improvement District Bonds (Special
Improvement District No. 348 (Green Acres Community Improvement)), Series 2025)