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Staff Report/SID 344City of Kalispell Charles A. Harball Office of City Attorney City Attorney 312 First Avenue East P.Q. Box 1997 Kalispell, MT 59903-1997 MEMORANDUM TO: Mayor Pamela B. Kennedy and Kalispell City Council FROM: Charles Harball, City Attorney James H. Patrick, City Manager Tel 406.758, 7708 Fax 406.758,7771 charball@kalispell.com kalispell.com SUBJECT: Resolution No. 5074 — Old School Station SID 344 MEETING DATE: Monday, November 7, 2005 BACKGROUND: Notice of Intent to establish SID 344 was previously resolved by the City Council and a public hearing will be held this same meeting date. Council should therefore have sufficient evidence before it to make its final determination about the formation of the SID. The purpose of the SID is to fund, through SID bonding, the public infrastructure improvements to this newly annexed property. The property owners within the district will repay the bonds though payment of assessments made against the property. The bonds will be secured first, by the property itself, and secondarily, by the City's Revolving Fund. RECOMMENDATION: That Council consider and pass Resolution No. 5074 establishing SID 344. FISCAL EFFECTS: As stated above. Respectfully submitted, f Charles A,a9`r all, City Attorney �"es H. Patrick, City Manager RESOLUTION NO.5074 RESOLUTION RELATING TO SPECIAL IMPROVEMENT DISTRICT NO. 344; CREATING THE DISTRICT FOR THE PURPOSE OF UNDERTAKING CERTAIN LOCAL .IMPROVEMENTS AND FINANCING THE COSTS 'THEREOF AND INCIDENTAL THERETO THROUGH THE ISSUANCE OF SPECIAL IMPROVEMENT DISTRICT BONDS SECURED BY THE CITY'S SPECIAL IMPROVEMENT DISTRICT REVOLVING FUND. BE IT RESOLVED by the City Council of the City of Kalispell (the "City'), .Montana, as follows: Section 1. Passage of Resolution of Intention. This Council, on October 3, 2005, adopted Resolution No. 5063 (the "Resolution of Intention"), pursuant to which this Council declared its intention to create a special improvement district, designated as Special Improvement District No. 344 of the City, under Montana Code Annotated, Title 7, Chapter 12, Parts 41 and 42, as amended, for the purpose of financing costs of certain local improvements described generally therein (the "Improvements") and paying costs incidental thereto, including costs associated with (i) the sale and the security of special improvement district bonds drawn on the District (the "Bonds"), (ii) the creation and administration of the District, (iii) the funding of a deposit to the City's Special Improvement District Revolving Fund, and (iv) the establishment of a reserve account securing the Bonds in the District fund. Section 2. Notice and Public jig, rind. Notice of passage of the Resolution of Intention was duly published and mailed in all respects in accordance with law. On October 7, 2005, this Council conducted a public hearing on the creation of the District and the making of the Improvements. That public hearing was conducted on November 7, 2005 at the first regular meeting of the Council following the expiration of the period ended fifteen (15) days after the first date of publication (October 18, 2005) of the notice of passage of the Resolution of Intention (the "Protest Period"). At the regular meeting of this Council held on October 3, 2005, this Council voted to continue the public hearing at its next regular meeting, occurring on November 7, 2005. Section 3. Protests. As of the date hereof: Zero (0) protests were filed with the City Clerk and not withdrawn by the owners of property in the District subject to the Actual Area method of assessment for the cost of: Grading, Utility, and Surface Improvements (as defined in the Resolution of Intention) with the City Clerk and not withdrawn by the owners of property in the District subject to the actual area method of assessment for the cost of Grading and Utility Improvements (as defined in the Resolution of Intention). Section 4. Creation of the District: Insufficiency of Protests. The District is hereby created on the terms and conditions set forth in, and otherwise in accordance with, the Resolution of Intention and this Resolution. The protests against the creation of the District or the making of the Improvements filed during the Protest Period and not withdrawn are hereby found to be insufficient. The findings and determinations made in the Resolution of Intention are hereby ratified and confirmed. PASSED AND APPROVED BY THE CITY COUNCIL AND SIGNED BY THE MAYOR OF THE CITY OF KALISPELL THIS 7TH DAY OF NOVEMBER, 2005. Pamela B. Kennedy Mayor Theresa White City Clerk