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Resolution 5590 - Creating SID #345 - Willows Storm Water ImprovementsBE IT RESOLVED by the City Council (the "Council") of the City of Kalispell (the "City"), Montana, as follows: Section 1. Passage of Resolution of Intention. This Council, on June 18, 2012, adopted Resolution No. 5565 (the "Resolution of Intention"), pursuant to which this Council declared its intention to create a special improvement district, designated as Special Improvement District No. 345 of the City (the "District"), under Montana Code Annotated, Title 7, Chapter 12, Parts 41 and 42, as amended, for the purpose of financing the costs of certain local improvements described generally therein and consisting primarily of a storm water detention facility and outlet (the "Improvements") and paying costs incidental thereto, including costs associated with the sale and the security of special improvement district bonds drawn on the District (the "Bonds"), the creation and administration of the District, and the funding of a deposit to the City's Special Improvement District Revolving Fund (the "Revolving Fund") and to a District reserve account. Section 2. Notice and Public Hearing. Notice of passage of the Resolution of Intention was duly published and mailed in all respects in accordance with law, and on July 16, 2012, this Council conducted a public hearing to hear and pass upon protests against the proposed Improvements and the creation of the District. The public hearing was the first meeting of the Council following the expiration of the period ended 17 days after the first date of publication of the notice of passage of the Resolution of Intention (the "Protest Period"). Section 3. Protests. Within the Protest Period, three (3) protests were filed with the City Clerk by the owners of property in the District subject to assessment, representing 3.45% of the total estimated costs of the Improvements and costs incidental thereto to be assessed against the properties in the District, in accordance with the method or methods of assessment in the Resolution of Intention. Section 4. Creation of the District, Insufficiency of Protests. At the next regular meeting after the expiration of the Protest Period (i.e., the meeting on July 16, 2012), the Council heard and passed upon all protests and determined that the protests made by owners in the District to be assessed for the cost of the proposed Improvements and incidental costs to be financed with the Bonds is not more than 50% of all of such costs in the District. The Council found and hereby ratifies and confirms that the protests against the creation of the District or the making of the Improvements filed during the Protest Period are insufficient. The Council subsequently analyzed the Improvements in greater detail and determined that additional City contributions toward the costs of the Improvements may be warranted. The District is hereby created on the terms and conditions set forth in, and otherwise in accordance with, the Resolution of Intention, but taking into account any additional contributions by the City toward the costs of the SID #345 — Willows Subdivision but taking into account any additional contributions by the City toward the costs of the Improvements, thereby, if made, reducing the special assessments against properties in the District. The findings and determinations made in the Resolution of Intention, including, without limitation, those relating to benefits conferred, funding the Revolving Fund and District reserve account and securing the Bonds thereby, and using the proceeds of the Bonds to pay or reimburse the City for all or a portion of the costs of the Improvements and costs incidental thereto are hereby ratified and confirmed. PASSED AND APPROVED BY THE CITY COUNCIL AND SIGNED BY THE MAYOR OF THE CITY OF KALISPELL, THIS 15TH DAY OF OCTOBER, 2012. Tammi Fisher ATTEST: Mayor Theresa White City Clerk SID #345 — Willows Subdivision 2