7. Resolution 4242 - Authorize Sale of Bonds - SID 342RESOLUTION NO. 4242
RESOLUTION RELATING TO $209,000 SPECIAL
IMPROVEMENT DISTRICT NO. 342 BONDS; FIXING
THE FORM AND DETAILS AND PROVIDING FOR THE
EXECUTION AND DELIVERY THEREOF AND
SECURITY THEREFOR
BE IT RESOLVED by the City Council of the City of Kalispell, Montana (the
"City"), as follows:
Section 1. Recitals. It is hereby found, determined and declared as follows:
1.01. Resolution of Intention. By Resolution No. 4222, adopted July 24, 1995
(the "Resolution of Intention"), this Council declared its intention to create Special
Improvement District No. 342 (the "District"), for the purpose of making special
improvements for the special benefit of the District. The Resolution of Intention
designated the number of the District, described the boundaries thereof, stated
whether the District was an extended district and stated the general character of the
improvements to be made (the "Improvements") and an approximate estimate of
the costs thereof, in accordance with the provisions of Montana Code Annotated,
Title 7, Chapter 12, Parts 41 and 42, as amended (the "Act"). By the Resolution of
Intention this Council also declared its intention to cause the cost and expense of
making the improvements specially benefiting the District to be assessed against the
properties included within the boundaries thereof in accordance with one or more
methods of assessment authorized in Montana Code Annotated, Sections 7-12-4161
to 7-12-4165 and as set forth in the Resolution of Intention.
In the Resolution of Intention, this Council further found that it is in the
public interest, and in the best interest of the City and the District, to secure payment
of principal of and interest on the Bonds by the Special Improvement District
Revolving Fund of the City, on the basis of the factors required to be considered
under Section 7-12-4225 of the Act. Those findings are hereby ratified and
confirmed.
1.02. Notices. Notice of the passage of the Resolution of Intention was
given by two publications, with at least six days between publications, the first no
more than 21 days prior to the hearing and the last no less than three days prior to
the hearing, in a qualified newspaper of general circulation in the county in which
the City is located or, if no such newspaper is published, in a qualified newspaper
published in an adjacent county, as required by Montana Code Annotated, Sections
7-12-4106(2) and 7-1-2121. Notice of the passage of the Resolution of Intention was
also mailed the same day the notice was first published to all persons, firms or
corporations or the agents thereof having real property within the District listed in
their names upon the last completed assessment roll for state, county and school
district taxes, at their last known addresses. The notice described the general