2. Resolution 5048 - Resolution of Intent & Call for PH - Board of Investments LoanCity of Kalispell
Charles A. Harball Office of City Attorney
City ,tty 312 First ,avenue East
P.O. Box 1997
Kalispell, M59903-1997
MEMORANDUM
TO: Mayor Pamela B, Kennedy
and Kalispell City Council
FROM: Charles Har all, City Attorney
James H.Patrick, City Manager
l 406.758.7708
Fax 406.758.7771
charball@kalispell.com
SUBJECT: Resolution 50Resolution. of Intent to Enter into Loan
Agreement with MT B01and to Call for a Public Hearing
MEETING DATE; Monday, August 22, 2005 — Special Meeting
BACKGROUND: City Council previously passe. Resolution. 5032, authorizing the
City to enter into a purchase and sale agreement with Wells Fargo Bank for its
facility at 201 First Avenue East. The State of Montana Board of Investments has
authorized a 10-year loan agreement with the City for the purchase sum o
$1, 100 000. A public hearing is now requixed so that the public may comment and
give evidence on the proposed loan agreement.
RECOMMENDATION: That Council consider and pass Resolution 5048 so that
the necessary publication may be made, the proposed loan agreement may be made
available to the public, and the public hearing may be set for September 6, 2005,
FISCAL EFFECTS.* None at this time.
Respectfully subraitte,
Chan es harball, City Attorney
J es H. Patrick, City Manager
RESOLUTION No. 5048
A RESOLUTION of INTENT BY THE CITY OF KALISPELL To ENTER. INTO A
LOAN AGREEMENT WITH THE BOARD of INVESTMENTS of THE STATE of
MONTANA FOR THE PRINCIPAL SUM of $1,1009000 FOR THE PURPOSE of
PURCHASING THE REAL PROPERTY AND IMPROVEMENTS AT 201 FIRST
AVENUE EAST KALISPELL AND TO CALL FOR A PUBLIC HEARING.
WHEREAS, the City of Kalispell has the immediate need for facility space for its
administrative offices; and
WHEREAS, the City of Kalispell is authorized, pursuant to MCA 7-7-4101 and MCA 7-5-
4306 and subject to MCA 7-7-4201, to incur debt for the purpose of purchasing
real estate and improvements for public buildings; and
WHEREAS, wells Fargo Bank has offered to sell its facility and appurtenances located at 201
First Avenue East to the City of Kalispell for the sum of $ I , 100,000; and
WHEREAS,, a public hearing should be held to take public comment and evidence regarding
whether or not it is in the hest interests of the City of Kalispell to eater into a loan
agreement with the Board of 1hvestments of the State of Montana for the purpose
of seeming the financing for the purchase of the wells Fargo facility.
Now, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY of
KALISPELL AS FOLLOWS
SECTION 1. That the Kalispell City Council intends to enter into a loarl agreement with
the Board of Investments of the State of Montana for the principal sum of
l , l o,000 for the purpose of purchasing the real property and
improvements at 201 First Avenue East, Kalispell, Montana.
SECTION 1:. The City Clerk shall forthwith prepare and publish in the Daily Inter Lake,
a daily newspaper published at Kalispell, Montana, proper notice of this
Resolution of Intention., pursuant to MCA - I - 17.
SECTION HI.Prior to the regularly scheduled meeting of the City Council of the City of
Kalispell, on Monday, September 6, 2005, the City Clerk shall forward all
written communication received by said Clerk for Council" s consideration.
SECTION vl.' he City Council of the City of Kalispell shall hold a public hearing to
consider the loan agreement with the Board of Investments of the State of
Montana, at a meeting to he held on the 6th day of September, 2005, at
TOO p.m. in the Council Chambers, City Hall, Kalispell, Montana, and
subsequent to the conclusion of said meeting the City Council, after
considering all spoken and written communication, may adopt a resolution
approving such loan agreement.
PASSED AND APPROVED BY THE CITY COUNCIL AND SIGNED BY THE MAYOR OF
THE CITY OF KALISPELL, THIS 22nd DAY OF AUGUST, 2005.
Pamela B. Kennedy
Mayor
" ATTEST:
Theresa White
City Clerk
CITY OF KALISPELL
NOTICE of PUBLIC HEARING
NOTICE IS HEREBY GIVEN that the City Council will hold a Public Hearing on the 6th
of September, 2005 at :00 pm In the City Hall Council Chambers to consider entering into a
loan agreement. with the Board of Investment of the State of Montana for the purpose of
purchasing the real property and improvements at 201 First Avenue East, Kalispell, Montana.
NOTICE is further given that the City Council on the 22 d day of August, 2005, passed
Resolution No. 5048 declaring an intention to eater into a loan agreement with the Board of
investments of the State of Montana for the principal sum of $1,100,000 for the purpose of
purchasing the real property and improvements at 201 First Avenue East, Kalispell, Montana.
NOTICE is further given that for a period of fifteen 1) days after August 23, 2005, that
date being the first day of publication of this Notice in the Daily Inter Lake, the City Clerk will.
receive expressions in writing of approval or disapproval of the proposed loa-n agreement. All
written comments ents should be sent to the City Clerk, PO Box 1997, Kalispell, MT 59 03; or by
email to tw.hite@l.l�spe.l.00m.
The City Council, at the time of the Public Hearing on the 6th day of September, 2005,
shall consider all public comments and vritten communication received by the City Clerk
pursuant to this Notice. Following the Public Hearing, the Council may duly and regularly pass
and adopt a Resolution approving the loan agreement. The time when said Resolution shall go
into effect shall he fixed by said Reso . tion.
Theresa White
City Clerk
Publish: August 23, 200
August 30, 200