Resolution 2672 - SID 307 Bonds - Form and Detailsw
RESOLUTION NO. 2672
CU, UTIC-'i DZSC' !,,,ITNG IHE FORM AND DETAILS FOR DIREC'EING ',ME ZXZCUTION AND
D-a.TVL'."Y OF Y54,000,00 OF SPECIAL !l.-,ZOVaICNT DIS'IRICT1110.307 BONDS 02 THE CITY
OF
ther- has boo -a created tinder 1-he Statutes of Vlha J;tatlo of !-Iontana by the
a -V Kalis--?ell, i-10""-Lanuaj Special Improvement District No. 307 for the purpose
c,,. laying, scrwer lines and a�l�urtenanccs in Northrid,o Eeights Area of
the estimated cost of said project is $54,OMDO.
-Pq,'R--F0:!E, 3E IT RESOLVED, by the City Council of the City of Kalispell, 1,ontana,,
as follows:
., T%1, or the purpose of obtaining 1at aining and providing fund" to paythe'lcost of the
for
al,ove nro--et, and pursuant to the authorities of the Statu'co,9s,of the State ot'"
proQeedinds recited in the preamble I e o, acid "orwiLh be
pre,);irod for e:.ecution and delivery Special ImprovemQn- o. 307 Bonds of
-ho, -jzy of 'I,,- a it 0 pc I 11ispe,11, Kajjs� 11, Montana, in the aggregato. principi I amou, . f
Y'l-EFTY-FOUR TITOUSAND DOLLUS ($54,000.00), which is tine est;mated, cost and exponso
of t'-,o foregoing, which bonds shall be dated April 1, 1963, and shall boar interest
at the rate of Five and twenty-five hundredths percent (5.25%) per annum, payable
:wally. Said Bonds shall be one hundred eight in -number and nuriborod aerially
Zrogj Qj-�e to one hundred and. eight, both inclusive, and sail bonds s I hall became due
and payable on the first day of January, 1988.
Said bonds shall be redeemable by the Treasurer of the Citil of Kallspeli, I'loatana
at par and accrued interest, when there are funds in Said Special improvement
District No. 307 Fund, against which said bonds are issued, available therefor,
and said rodLrx?tion shall be made in the manner provided by law, provided that the
Treastaxer shall first pay out of said Special Improvement District No. 307 Fund,
.,nav"slly, theinterest on all outstanding bonds upon prdsontatiot of the coupons
belonpizf; thereto, and any funds remaining shall be ap,alied to I the payment of the
principal and the redemption of the bonds. I
2. 7'he- interest on said bonds shall be payable annually on the
nthe first day of January
of each year cotnencing January 1, 1969. 1
3. Sa''d bonds and the interest coupons to be thereto attached, and registration
certificate to be endorsed thereon, shall be in,substanti ally the, forro attached
he I roto as Exhibit ",'I" and by the reference made a,part
4. Said bonds shall be forthwith prepared for execution and shall be executed on
behalf of the Special improvement District No. 307 of the City of Kalispell, Montana,
by the signature of the Hayor of the City of Kalispell, attested by the City Clerk
of the City of Kalispell, and by affixation of then� official seal of the City of
Kalispell, and the interest coupons 'shall be executed and authenticated by t.e en-
graved 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, thJ City Treasurer shall
than deliver them, or cause them to be delivered to,the purchaser upon payment to
the City Treasurer of the purchase theretofore agreed upon.
5. `Ehe "'layor, the City Council, and the City Treasurer of the,City of Kalispell are
authorized and directed to prepare and furnish to the purchader of said bonds, and
to its Attorneys, certified copies of all proceedings and records relating to said
bonds and such other certificates and affidavits as may be required to brixig the
facts within their knowledge, ill as shown by the books and records under their cus-
tody and control relating to the validity and marketability of said bonds, and said
certified coa�ies of certificates and affidavits, includinglany thereof heretofore
furnished, shall constitute a representation of the City of Kalispell, Montana as to
tho truth of each fact reported to be shown there -in.
C I t -7 L is authorjtzodi and directed to order the prinrin,� of the Bond-, an��
�
�'OVI:- 7, E 1,1AYOR AND CITY COUNCIL T',!TS 11TH.pp C,: 'U%R H, as ad.
X
ards 1 c CITY CLZRI, . .. ..
L
1, the undersigned, City Clerk of the City of,4Cklispell, theraby cartify that thw
foregoing is a true and correct copy of the i, , resclution duly passed by the City
Council of the City of Kalispell, Monta", as a regular aseting.-orr-) March 11
1968
4Cityer�k WI-th City f Kalispeli, moe tan_ '