03/27/15 Miller/Executed Completion CertificateSTEVE BULLOCK, GOVERNOR
1625 ELEVENTH AVENUE
STATE OF MONTANA
DIRECTOR'S OFFICE: (406) 444-2074 PO BOX 201601
FAX: (406) 444-2684 HELENA, MONTANA 59620-1601
To: Doug Russell, City Manager
City of Kalispell
From: Anna Miller, Financial Advisor
Department of Natural Resources * ion
Date: March 27, 2015
Re: Kalispell SRF-14352 Special Improvement District No. 345 Series 2014
$242,000 Water Pollution Control Loan
Here is your copy of the executed Completion Certificate for the City's Special
Improvement District Bond on the wastewater project. Thank you for participating in the
program.
If you have any questions please give me a call.
cc: Dan Semmens — D & W w/
Debbie Kuykendall — US Bank w/
Paul LaVigne — DEQ w/
Diana Hoy — DNRC w/o
Kalispell SRF-14352 $242,000 loan file w/original
11 eke. WIliors -SID
DIRECTOR'S CONSERVATION & RESOURCE
OFFICE DIVISION
(406) 444-2074 (406) 444-6667
OIL & GAS
DIVISION
(406) 444-6675
TRUST LAND MANAGEMENT
DIVISION
(406) 444-2074
I
$242,000
Special Improvement District No. 345 Bond
(DNRC Water Pollution Control State Revolving Loan Program), Series 2014
City of Kalispell, Montana
We, Mark Johnson and Doug Russell, and Rick Wills hereby certify that we are on the
date hereof the duly qualified and acting Mayor, City Manager, and City Finance Director,
respectively, of the City of Kalispell, Montana (the "City"), and that:
1. Pursuant to Resolution No. 5659, duly adopted by the City Council of the City on
February 3, 2014, entitled "Resolution Relating to $242,000 Special Improvement City No. 345
Bond (DNRC Water Pollution Control State Revolving Loan Program,) Series 2014; Authorizing
the Issuance and Fixing the Terms and Conditions Thereof and Providing for the Security
Therefor" (the "Resolution"), the City issued its Special Improvement No. 345 Bond (DNRC
Water Pollution Control State Revolving Loan Program), of the City, dated, as originally issued,
as of February 3, 2014 in the maximum aggregate principal amount of $242,000 (the "Bond").
We have reviewed the Bond Ordinance and the Resolution, including, without limitation,
Articles II and III thereof, and the definitions relating thereto. The Bond Resolution is referred to
as (the "Resolution"). Terms used with initial capital letters but undefined herein shall have the
meanings given them in the Resolution, unless the context hereof clearly requires otherwise.
2. The Bond was issued to finance the cost of acquiring or constructing certain
improvements to the municipal wastewater system of the City (the "System"), generally
described in Exhibit A to the Resolution (the "Project"). The Project was completed on
November 29, 2013, substantially in accordance with the plans and specifications therefor on file
with the DEQ, including any changes therein made with the written consent of an Authorized
DNRC or DEQ Officer, except for minor defects in the Project, which the City has ordered to be
remedied or minor items of work and materials awaiting seasonal completion. Construction of
the Project has complied with all federal and state standards, including, without limitations, EPA
regulations and standards. The Project was placed in service on November 29, 2013.
Attached as Exhibit A to this Certificate is a certificate of an engineer stating that the
Project has been completed substantially in accordance with the plans and specifications now in
effect, which conform to those on file with the DEQ and substantially in compliance with all
federal and state standards applicable. The City has accepted the Project and we are authorized
to make a certification to that effect.
G: ICARDISRF--WRF LoansISRF-CerticatesiCERT Kalispell SRF14352 $242,000 S1D.doc
3. All costs of the Project have been paid and the City hereby waives its right to any
remaining Committed Amount not advanced or to be advanced upon delivery hereof and
specifically confirms and agrees that no Revolving Fund Amounts are needed and that any
unadvanced Committed Amount is released.
4. The City has spent the following amounts from proceeds of the Bond in connection
with the Project:
Construction $ 206,800.00
Miscellaneous $ 22,172.33
Capitalized Interest $ 927.67
Revolving Fund Deposit $ 12,100.00
Total $ 242,000.00
5. The Trustee has delivered to the City a copy of Schedule B which will be attached to
the Bond, which reflects the amortization of all advances made or to be made on the date hereof
of proceeds of the Bond (i.e., $242,000) (the sum of the amounts of the Bond applied to pay costs
of the Project or costs of issuance of the Bond or deposited in the Revolving Fund Account or
Debt Service Reserve as described in paragraph 4 hereof)) as required under Section I l(g) of the
Indenture, which is attached hereto as Schedule B. The City hereby acknowledges and agrees
that said Schedule B has been calculated in accordance with the provisions of the Resolution and
the Indenture, and that the Bond, with said Schedule B attached thereto, has been duly issued
pursuant to the Resolution and is a valid and binding obligation of the City accordance with its
terms and the terms of the Resolution. The City commenced the semiannual payment on the
Bond on July 1, 2014 in accordance with the Schedule B, as originally attached to the Bond at
closing on May 15, 2014, and payments thereon will continue on each January 1, and July 1,
thereafter until paid in accordance with the schedule B attached hereto. The City hereby waives
its right to any remaining Committed Amount, as defined in the Commitment Agreement, not
advanced or to be advanced upon delivery hereof and specifically confirms and agrees that no
additional funds are needed for the Project and that any unadvanced Committed Amount is
released.
6. Pursuant to the Resolution, the City has established a Revolving Fund Account (the
"Revolving Fund Account") and a Debt Service Reserve Account (the "Debt Service Reserve
Account") in the Fund, to secure its outstanding special improvement City bonds (collectively,
the "Bonds"), including the Bond. As a condition precedent to the purchase of the Bond, the City
agreed to deposit an amount equal to 5% of the proceeds of the Bond in the Revolving Fund and
in the Debt Service Reserve Account. The amount of $12,100 representing 5% of the proceeds
of the Bond has been deposited in both the Revolving Fund and in the Reserve Account.
7. The representations of the City contained in Section 3 of the Commitment Agreement,
dated as of July 24, 2013, between the City and the DNRC, and in Sections 2.1, 3.1 and 3.3 of the
Resolution are true and complete as of the date hereof as if made on this date, except to the
extent that the City has specifically advised the DEQ and the DNRC otherwise in writing.
8. No default in any covenant or agreement on the part of the City contained in the
Resolution has occurred and is continuing.
WITNESS our hands and the seal of the City as of this, day of 1\-4kVc-,.. , 2015.
(SEAL)
�1ag2�r•
MOWP
CITY OF KALISPELL, MONTANA
By
City r
And
City Manager
An
City Finance Director
G: iCARUSRF--WRF LoansMF-CertiflcateslCERT Kalispell SRF14352 $242,000 SID.doc
BORROWER CERTIFICATION ON PAYROLLS
AND STATEMENT OF COMPLIANCE
Project Name: _ Widows Subdivision Stormwater Improvements
Borrower: City of Kalispell
Montana State Revolving Fund Loan Project No. SRF #C307139:
Each contractor and subcontractor on this project has submitted weekly a copy of all. payrolls to the
borrower. Each payroll copy was accompanied by a statement of compliance with the Copeland
Regulations of the Secretary of Labor, (29 CFR, Part 3) signed by the employer or his agent indicating
that the payrolls are correct and complete, that the wage rates contained are not less than those
determined by the Secretary of Labor and that the classification set forth for each laborer or mechanic
conformed to the work performed. The borrower has made such examination of the submitted payrolls
and statements as may be necessary to assure compliance with the labor standards clauses.
I hereby certify as the authorized representative of the above -named borrower, that the above
requirements of the United States Department of Labor have been complied with in accordance with
Section 5.5 (a) (3) (ii) of Title 29, Subtitle A, Code of Federal Regulation.
(Signature of Borrower Au d Representative)
(Date) (Title)
AFFIRMATIVE CERTIFICATION
Of
Project Performance Standards
For
City of Kalispell
Willows Subdivision Stormwater Improvements
Project No. SRF #: C307191
As required by the Clean Water Act under Title VI, 33 U.S.C. 1251 Section 602(b)(6), I certify as
authorized representative of the City of Kalispell that the Willows Subdivision
Stormwater Improvements (SRF #C307191) project, funded in part by the above -noted
loan project, having initiated operation on November 29, 2013 has met its performance
standards on the date one year following initiation of operation. This certification is substantiated
by the attached Basis for Certification Report.
kum Z•ZC•15
Signature f Authorized Representative Date
iOr G'vi1 67amar"
Title Ili
Certificate of Su dal Compledon
Project: W" L L OW 4! T eJrC
Owner: r' ' , -v-v e) �c IAA i .s jPw &_t_ lownes contract No:
Contract: I naiayse4 RVW l0.: S K F =4*-
Tbis [tentative) [defiattive] Certificate of Substantial Conspletlon applies to:'WI
I Work under the Contract Documents: The following specified portions of the Work
Moy Z T, zO 13
Date of Substantial Completion
The Work to which this Certificate applies has been inspected by authorized representatives of Owner,
Contractor, and. Engineer, and found to be substantially complete. The Date of Substantial Completion
of the Project or portion thereof designated above is hereby declared and is also the date of
commencement of applicable warranties required by the Contract Documents, except as stated below.
A ftentativel Idefinkivej list of items to be completed or corrected is attached hereto. This list may not
be all-inclusive, and the failure to include any items on such list does not alter the responsibility of the
Contractor to complete all Work in accordance with the Contract Documents.
The responsiMlities between Owner and Contractor for security, operation, safety, maibtenmee,
hest, utilities, iosaranee and warranties shag be as provided in the Contract Doemneants except as
amended as follows:
Amended Responsibili des Amended
Owner's Amended Resp,{o/nsibiiities:
/V . _k.
Contractor's Amended Responsibilities:
N. A.
IU following documents are attached to and made pan of this Certificate:
This Certificate don not constitute an acceptance of Work not in accordance With the Contract
Documents nor is it a releme of Contractor's obligation to complete the Work in accordance with the
Contract Documents.
Ixeculeo,bylugineer
A ece,106"), Contractor Daft
Date
aim C-M C"Okefe4reambowcalow"
ft"Wedow &SIR IP ON&MOMO 1
PaV2492
SRV-14352
Final Schedule
STATE OF MONTANA
GENERAL OBLIGATION BONDS
WASTEWATER
(REVOLVING FUND PROGRAM)
BORROWER: Kalispell -Willows SID
PROJECT NAME:
LOAN COMMITMENT: $242,000
LOAN AMOUNT: 242,000
INTEREST RATE: 3.00%
FINAL LOAN PAYMENT: 7/1/2029
# OF LOAN PAYMENTS: 31
PROJECT NUMBER:
DATE OF FUNDING: 5/15/2014
PAYMENT
LOAN LOSS
ADM EXPENSE
INTEREST
PRINCIPAL
O/S LOAN
TOTAL AMOUNT
DUE
RESERVE
SURCHARGE
PAYMENT
PAYMENT
BALANCE
OF PAYMENT
1
7/1/2014
77.31
231.92
618.44
1,000.00
241,000.00
$1,927.67
2
I/1/2015
301.25
903.75
2,410.00
7,000.00
234,000.00
$10,615.00
$12,542.67
3
7/1/2015
292.50
877.50
2,340.00
7,000.00
227,000.00
$10,510.00
4
1/1/2016
283.75
851.25
2,270.00
7,000.00
220,000.00
$10,405.00
$20,915.00
5
7/1/2016
275.00
825.00
2,200.00
7,000.00
213,000.00
$10,300.00
6
1/l/2017
266.25
798.75
2,130.00
7,000.00
206,000.00
$10,195.00
$20,495.00
7
7/1/2017
257.50
772.50
2,060.00
7,000.00
199,000.00
$10,090.00
8
1/1/2018
248.75
746.25
1,990.00
7,000.00
192,000.00
$9,995.00
$20,075.00
9
7/1/2018
240.00
720.00
1,920.00
7,000.00
185,000.00
$9,880.00
10
1/1/2019
231.25
693.75
1,850.00
7,000.00
178,000.00
$9,775.00
$19,655.00
11
7/1/2019
222.50
667.50
1,780.00
7,000.00
171,000.00
$9,670.00
12
1/1/2020
213.75
641.25
1,710.00
7,000.00
164,000.00
$9,565.00
$19,235.00
13
7/1/2020
205.00
615.00
1,640.00
8,000.00
156,000.00
$10,460.00
14
1/l/2021
195.00
585.00
1,560.00
8,000.00
148,000.00
$10,340.00
$20,800.00
15
7/1/2021
185.00
555.00
1,480.00
8,000.00
140,000.00
$10,220.00
16
i/l/2022
175.00
525.00
1,400.00
8,000.00
132,000.00
$10,100.00
$20,320.00
17
7/1/2022
165.00
495.00
1,320.00
8,000.00
124,000.00
$9,980.00
18
1/l/2023
155.00
465.00
1,240.00
8,000.00
116,000.00
$9,860.00
$19,840.00
19
7/1/2023
145.00
435.00
1,160.00
8,000.00
108,000.00
$9,740.00
20
1/l/2024
135.00
405.00
1,080.00
8,000.00
100,000.00
$9,620.00
$19,360.00
21
7/l/2024
125.00
375.00
1,000.00
8,000.00
92,000.00
$9,500.00
22
1/1/2025
115.00
345.00
920.00
9,000.00
83,000.00
$10,380.00
$19,880.00
23
7/1/2025
103.75
311.25
830.00
9,000.00
74,000.00
$10,245.00
24
1/1/2026
92.50
277.50
740.00
9,000.00
65,000.00
$10,110.00
$20,355.00
25
7/l/2026
81.25
243.75
650.00
9,000.00
56,000.00
$9,975.00
26
1/1/2027
70.00
210.00
560.00
9,000.00
47,000.00
$9,840.00
$19,815.00
27
7/1/2027
58.75
176.25
470.00
9,000.00
38,000.00
$9,705.00
28
l/l/2028
47.50
142.50
380.00
9,000.00
29,000.00
$9,570.00
$19,275.00
29
7/1/2028
36.25
108.75
290.00
9,000.00
20,000.00
$9,435.00
30
1/1/2029
25.00
75.00
200.00
10,000.00
10,000.00
$10,300.00
$19,735.00
31
7/l/2029
12.50
37.50
100.00
10,000.00
0.00
$10,150.00
$10,150.00
5,037.31
15,111.92
40,298.44
242,000.00
302,447.67