Resolution 4883 - NOT ACTED ON - Awarding Sale of Sewerage System Revenue BondsNacr D
RESOLUTION NO.4883
RESOLUTION RELATING TO $1,675,000 SEWERAGE SYSTEM REVENUE BONDS,
SERIES 2004; AWARDING THE SALE THEREOF AND APPROVING THE OFFICIAL
STATEMENT RELATING THERETO.
BE IT RESOLVED by the City Council (the "Council") of the City of Kalispell,
Montana (the "City"), as follows:
1. This Council on April 19, 2004, adopted a resolution providing for the public sale
of $1,675,000 Sewerage System Revenue Bonds, Series 2004 (the "Bonds") to finance the costs
of a Project described therein. Notice of the sale has been duly published in accordance with
Montana Code Annotated, Section 7-7-4434. Pursuant to the notice of sale, sealed bids for
the purchase of the Bonds were received at or before the time specified for receipt of bids. The
bids have been opened (or accessed) and publicly read and considered, and the purchase price,
interest rates and net interest cost under the terms of each bid have been determined.
2. The bid of , of (the
"Purchaser"), attached as Exhibit A, to purchase the Bonds is hereby determined to comply with
the notice of sale and to be the most favorable bid received for the purchase of the Bonds. The
bid of the Purchaser is hereby accepted and the sale of the Bonds is hereby awarded to the
Purchaser. The bid security of the Purchaser shall be retained pending payment for the Bonds
and the bid security of all other bidders shall be returned forthwith.
3. The Mayor and the Finance Director are hereby authorized and directed to
execute on behalf of the City a contract for the sale of the Bonds with the Purchaser.
4. The Preliminary Official Statement relating to the Bonds, dated April 20, 2004, is
hereby approved. The officers of the City are hereby authorized and directed to execute such
certificates as may be appropriate concerning the accuracy, completeness and sufficiency of the
Official Statement and to deliver to the Purchaser within seven business days after the date of
adoption of this resolution copies of the Official Statement in accordance with the Notice of Sale,
supplemented so as to contain the terms of the Bonds as set forth in this resolution and the
reoffering and other information provided by the Purchaser for inclusion in the Official
Statement.
This Council shall prescribe the form and security for the Bonds in a subsequent
resolution.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF KALISPELL, ON
THE 3RD DAY OF MAY, 2004.
Pamcla B. Kennedy
Mayor
ATTEST:
Theresa White
City Clerk