Resolution 2998 - Form and Details - SID 31614h
RESOLUTION NO.
A RESOLUTION DESCRIBING THE FORM AND DETAILS FOR DIRECTING THE
EXECUTION AND DELIVERY OF $45,000.00 OF SPECIAL IMPROVEMENT
DISTRICT NO. 316 BONDS OF THE CITY OF KALISPELL, MONTANA.
WHEREAS, there has been created under the Statutes of the State
of Montana by the City of Kalispell, Montana, Special Improvement
District No. 316 for the purpose of installing Sanitary Sewers in
the area described in Resolution No. 2918.
WHEREAS, the estimated cost of said project is $45,000.00.
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of
Kalispell, Montana, as follows:
1. That for the purpose of obtaining and providing funds to pay the
cost of the above project, and pursuant to the authorities of the
statutes of the State of Montana and the proceedings recited in the
preamble hereto, there shall be prepared for execution and delivery
Special Improvement District No. 316 Bonds of the City of Kalispell,
Montana, in the aggregate principal amount of FORTY FIVE THOUSAND
AND N01100 DOLLARS ($45,000.00), which is the estimated cost and
expense of the foregoing, which bonds shall be dated January 1, 1975
and shall bear interest at the rate of seven and seven -tenths per.
cent (7.7%) per annum, payable annually. Said Bonds shall be forty-
five (45) in number, and numbered serially from one to forty five,
both inclusive, and said bonds shall become due and payable,,on the
first day of January, 1985.
Said Bonds shall be redeemable by the Treasurer of the City of Kal-
ispell, Montana at par and accrued interest, when there are funds
in said Special Improvement District No. 316 Fund, against which
said bonds are issued, availablo therefor, and said re(loMI)tion shall
bo 111ado in the manner, provided by law, pr-ovided 11wl llii• Tro,itnirer
shall first pay out of said Special Improvement Di:Ariut No. .310
Fund, annually, the interest on all outstanding bonds upon presenta-
tion of the coupons belonging thereto, and any funds remaining shall
be applied to the payment of the principal and the redemption of the
bonds.
2. The interest on said bonds shall be payable annually on the first
day of January of each year commencing January 1, 1976.
3. Said bonds and the interest coupons to be thereto attached, and
registration certificate to be endorsed thereon, shall be in sub- ,
stantially the form attached hereto as Exhibit "A" and by this refer-
ence made a part hereof.
4. Said bonds shall be forthwith prepared for execution and shall
be executed on behalf of the Special Improvement District No. 316 of the
City of Kalispell, Montana, by the signature of the Mayor of the City
of Kalispell, attested by the City Clerk of the City of Kalispell,
and by affixation of the official seal of the City of Kalispell, and
the interest coupons shall be executed and authenticated 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 purchaser upon payment to the City'Treasurer
of the purchasq theretofore 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 the purchaser of said bonds, and to its attorneys,
certified copies of all proceedings and records relating to said
bond„ and such o'ther certificates and ,affidavits as may bo requirc-d
to brin('j tho facts within their knowled(Je.., all as shown key the books
and records under their custody and control relatinq to the validity
and marketability of said bonds, and said certified oopit.s of
certificates and affidavits, including any thereof heretofore furn-
ished, shall constitute a representation of the City of Kalispell,
Montana, as to the truth of each fact reported to be shown therein.
6,. The Ci.i"� C1er is authorize. directed to order the printing
oftheBonds and/Coupons.'"
�:Q
S D AND APPROVED ]3Y fHE MAYOR Aj?Y CITY COUNCIL TFtZS 20th DAY
JANCSARY 1975.
Laurence G. Bjorneb Mayor
kh
I, the undersigned, City Clerk of the C o Kalispell, hebb certify that the fore-
going is a true and correct copy of the re uti.on duly passed by the City Council of
the City of Kalispell, Montana, at'n" 9cs etingT ry 20, 1975
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