Resolution 3057 - Bids and Award Sale - Sewage System Revenue BondsCouncil Member Lauren G. Gm=o introduced the following resolution,
and moved ,its adoption: RESOLUTION NO. 3057
RESOLUTION RECEIVING BIDS AND AWARDING SALE
OF $445, 000-.SEWER.- SYSTEM REVENUE BONDS
BE IT RESOLVED by the City Council of the City of Kalispell,
Montana, as follows:
Section l.- Authorization and Sale.
1.01. Notice of sale of $445,000'Sewe3?,, System Revenue Bonds,
to be issued pursuant to Title 11, Chapter 24, of the Revised Codes
of Montana 1947, as amended, has been duly purlbished and the Council
has publicly'received, opened and considered all sealed bids pre-
sented in conformity with the notice. The most.favorable of su
bids is ascertained. to be that of Piper, Jaffrey &Hopwood and Pain, Kal�l=n.& Quail
and associates, to purchase thewbonds at a price of par -plus accrued
interest, with a net interest cost.to'the City of 6.6743 percent for
the entire issue. riper, Jaffrey & Hopwood and
1.02. Sale of the bonds is hereby awarded to Dain, Kalman & Quail,
and associates. The Mayor and City Clerk are authorized and directed
to execute in duplicate a contract on the part of the City for the
sale of the bonds in accordance with the proposal described in Sec-
tion 1.01, and to'deliver a duplicate to the purchasers. The City
Clerk is directed to retain the purchasers' check securing the con-.
tract of sale until the.bonds are delivered and _the purchase price
is paid, and to return the checks securing other bids.to the respec-
tive bidders.
1.03. The Mayor and City Clerx are further authorized an,
directed to enter into a written agreement with a suitable bank
selected to serve as 'paying agen" o, payments of principal of and
interest.on th � nds® Such wrritte agreement shall be entered
into as soon s practicable p �.or t the delivery of the bands and
shall'set orth,.'�n additio 7o of er provisions deemed necessary
and appr riate, he payinc,�agen fees and charges to be paid by
the Ci / /l
A
/ N93!$na E. Happo Mayor
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The motion'for-the adoption of the foregoing resolution
was duly seconded by member. Everit A. Sliter, and upon vote being
'taken thereon, the following Members voted in favor thereof:
Councilmen Dale W. Williams; Robert G. Allen; Forrest W. Daley, Lauren G. Granmo,'
Robert G. Olson,;.Francis O'Boyle; John C. Schwartz; and Everit A. Sliter,
and the following voted against the same: none,
whereupon.the resolution was aec-Lared duly passed.and adopted and
was signed by the Mayor and attested by the City Clerk., June 21, 1976.
I, the undersigned, City Clerk of-thb City of Kalispell ��e ify that the foregoing is..
a true copy of the Resolution duly,apsed by the City Cain
it of t City of K lisp I,
I
Montana at a regular meeting held/ June 21, 1976j
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