Notice of Passage of Resolution of IntentionNOTICE OF PASSAGE OF RESOLUTION OF INTENTION
TO CREATE SPECIAL IMPROVEMENT DISTRICT NO. 344
AND TO ISSUE THE CITY'S SPECIAL IMPROVEMENT DISTRICT NO. 344 BONDS
IN THE AGGREGATE PRINCIPAL AMOUNT, AND IN SALABLE INCREMENTS, NOT TO
EXCEED $4,550,000 SECURED BY
THE CITY'S SPECIAL IMPROVEMENT DISTRICT REVOLVING FUND
CITY OF KALISPELL, MONTANA
NOTICE IS HEREBY GIVEN that on October 3, 2005, the City Council of the City of
Kalispell, Montana (the "City"), adopted a Resolution of Intention to Create Special
Improvement District No. 344 (the "District") for the purpose of financing the costs of certain
local improvements (the "Improvements") and paying costs incidental thereto, including costs
associated with the sale and the security of special improvement district bonds of the City drawn
on the District (the "Bonds"), the creation and administration of the District, the funding of a
deposit to the City's Special Improvement District Revolving Fund (the "Revolving Fund") and
the establishment of a reserve account securing the Bonds in the District fund (the "Reserve
Account"). The Improvements shall be constructed and installed pursuant to plans and
specifications prepared by Morrison & Maierle, Inc., and approved by the City Engineer.
A complete copy of the Resolution of Intention (the "Resolution") is on file with the City
Clerk which more specifically describes the nature of the Improvements, the boundaries and the
area included in the District, the location of the Improvements and other matters pertaining
thereto and further particulars.
The general character of the Improvements are (i) grading and utility Improvements,
consisting of planning, design and performing site grading for the construction within the District
of Schoolhouse Loop, Schoolhouse Drive and Schoolhouse Circle (including, without limitation,
potable watermains, and services, sewer mains and services, a storm drainage system, telephone,
natural gas, and electrical utilities), and (ii) surface Improvements, consisting of surfacing
Schoolhouse Loop, Schoolhouse Drive and Schoolhouse Circle and installing related surface
improvements, such as, without limitation, curbing, aprons, sidewalks, gutters, and landscaping.
The total estimated costs of the Improvements, including all incidental costs, but not the costs
associated with securing the Bonds and the issuance of the Bonds, are $3,963,100.
The City would issue the Bonds in an aggregate principal amount, and in salable
increments, not to exceed $4,550,000 in order to finance the costs of the Improvements.
Principal of and interest on the Bonds will be paid from special assessments levied against the
property in the District in the aggregate principal amount of $4,550,000 and such payment will be
secured by the Reserve Account and the Revolving Fund. Subject to the limitations of Montana
Code Annotated, Section 7-12-4222, the general fund of the City may be used to provide loans to
the Revolving Fund or a general tax levy may be imposed on all taxable property in the City to
meet the financial requirements of the Revolving Fund.
All properties within the District are to be assessed for a portion of the costs of the
Improvements. The costs of the Improvements will be assessed against applicable portions of the
property in the District benefiting from the Improvements, based on, as appropriate and as set
forth more particularly in Section 7 of the Resolution, the actual area method of assessment
described in Sections 7-12-4162 and 7-12-4163, M.C.A. All of the properties in the District
(described as SID Lot Nos. 1 through 17) will be assessed for their proportionate share of the
costs of the grading, utility, and surfacing Improvements. The total estimated cost of the grading,
utility, and surfacing Improvements, including all incidental expenses and costs associated with
securing the Bonds and the issuance of the Bonds, is $4,550,000 and shall be assessed against
each of SID Lot Nos. 1 through 17, for that part of the costs of the grading, utility, and surface
Improvements that the area of each of such tract or parcel bears to the total area of both of such
tracts or parcels exclusive of streets, avenues, alleys, storm water detention ponds and like
features. The total area of the District to be assessed by way of the actual area method is
estimated to be 2,064,308 square feet. The costs of the grading, utility, and surfacing
Improvements per square foot of area is estimated not to exceed $2.21. The total assessment (not
including interest expense) for each affected lot, tract or parcel of land subjected to the actual
area method of assessment for the grading, utility, and surface Improvements is shown on
EXHIBIT D of the Resolution of Intention, on file with the City Clerk.
On November 7, 2005, at 7:00 p.m., M.T., in the Council Chambers at City Hall, 312 lst
Avenue East, Kalispell, Montana, the City Council will conduct a public hearing and pass upon
all written protests against the creation of the District, or the making of Improvements that may
be filed in the period described below.
Written protests against the creation or extension of the District and the making of the
Improvements may be filed by an agent, person, firm or corporation owning real property within
the proposed District whose property is liable to be assessed for the Improvements. Such
protests must be delivered to the City Clerk at City Hall, 312 lst Avenue East, Kalispell, Montana
59901 not later than 5:00 p.m., M.T., on November 2, 2005.
Further information regarding the proposed District or the Bonds or other matters in
respect thereof may be obtained from the City Clerk at City Hall, 312 lst Avenue East, Kalispell,
Montana 59901 or by telephone at (406) 758-7756.
Dated: October 12, 2005
BY ORDER OF THE CITY COUNCIL
OF THE CITY OF KALISPELL,
MONTANA'
City Clerk
(Publication Dates: October 18, October 25, and November 1, 2005)
Confirmation Report— Memory Send
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Date & Time: Oct-13-05 08:18am
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Date Oct-13 08:17am
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Number of pages 003
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