Resolution 2671 - SID 306 Bonds - Form and DetailsM
RESOLUTION NO. 2671
A RrSOLUTION DESCRIBING THE 1`011M AND DETAILS FOR DIR,'uCTING Tli:,: EXECUTION AND
DELIVLIRY OF $1,3,530.00 OF SPECIAL IMPROVEMENT DISTRICT NO. 306 30INDS OF THE
CITY OF KALISPELL, iIONTANA.
'11"REAS, Montana �i' there has been created under the Statutes of the State Of ' t a by
the City of Kalispell, ;Montana, Special Improvement District No. 306 for the
purpose of laying water mains and appurtenanceslin NlorthrldgoiArea of Kalispell,
[,',TEREAS, the estimated cost of said project is $13,500.00.
NOW THEREFORE, BE IT RESOLVED, by the City Council of the City of Kalispell,
M I ontana, as follows;
1. That for the purpose of obtaining and providing runds — pay the cost of the
above prolioct, and pursuant to the authorities of the Statutes'of the State of
Montana and the proceedings recited in the prearable hereto, and shall forwith be
prepared for execution and delivery Special Improvement District No. a�, 30'ads of
the City of Kalispell, Nlontana, in the aggregate principal -.moul)t of THIRTEEN
THOUSAND FIVE HUNDRED DOLLARS ($13,500.00), whichlis the estimated cost and ex-
pense of the foregoing, which bonds shall be dated April 1, 1968, and shall bear
interest at the rate of Five and seven -tenths per cent (5.7%) per annum, payable
annually. Said Bonds shall be twenty seven (27) ' in number; and numbered serially
from one to twenty-seven, both inclusive, and said bonds shall become due and pay-
able on the first day of January, 1988.
Said Bonds shall be redeemable by the Treasurer of the City of Kalispell, Montana
at par and accrued interest, when there are funds in said Spedial Improvement
District No.306 Fund, against which said bonds are issued, available therefor,and
said redemption shall be made in the manner provided by law, provided that the
Treasurer shall first pay out of said Special improvement District No. 306 Fund,
annually, the interest on all outstanding bonds upon prosentationlof the coupons
belonging thereto, and any funds remaining shall be applied to the payment of the
nrincipal and the redemption of the bonds. I I I I 1 1. 1 1
t. The interest on said bonds shall be payable annually on the I first day of Jan -
airy of each year commencing January 1, 1969.
3. Sr,id bonds and the interest coupons to be thereto a�taqhed, and registration
certificate to be endorsed theron, shall be in substantially'the form attached
hereto as Exhibit "A" and by the reference made a part I hereof.
4. Said bonds shall be forthwith prepared for exec 1tio4arui Shall bt�,executed
on behalf Of the Special Improvement District tio. 06 ofthe City OfKalispell,
11iontana, by the signature of the'Mayor of the City of Kalispell, attested by the
City Clerk of the City of Kalispell, and by affixatibnlof thelofficial seal of
the City of Kalispell, and the interest
nterest coupons shall Sa axe ' cpted and authentica-
ted by the engraved or lithographic facsimile signatures of said officers, which
fact shall be so recited in the bonds, and said bonds shall then be registered by
the City Treasurer. When the bonds have been so fully executed and registered, the
City Treasurer shall then deliver them, or cause them to be delivered to the pur-
chaser upon payment to the City Treasurer of the purchase therbtof re agreed upon.
5. The Mayor, the City Council, and the City Treasurer of the City, of Kalispell
are authorized and directed to prepare and furnish to t Ike pur baser of said bonds,
and to its Attorneys, certified copies of ,ail proceedings and records relating to
said bonds and such other certificates and affidavits as may be required to bring
the facts within their knowledge, all as shown by the books and records under their
custody and control relating to the validity and marketability of said bonda, and
said certified copies of certificates and affidavits, Including any'thereof hereto-
' fore furnished, shall constitute a representation of the City'of lballlspell', Montana
as to the truth of each fact reported to be shown therein.
13, The Cit_rk is authorized and directed to order the printing of the Bonds and
Coupons,
AND CITY COUNCIL IBIS 1IT-11. 3AY OF !,.A ZH,Jq`6R.
C17y C;..'EF& Lauronce
I - T"Inle W.d1*7619'red, ctry Clark 0f the CttY Ot KAIISPell, herby certify that the
f0MOSOIng is 4 troe and correct copy of the resolution duly passed by the City
COUntil of the City of Kalispell, Nfoptajla, at a regular meeting on _tUrch ll,_
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Cit C16 k of the City of Kalispell, MoWt7a ce