Tab 14 Official Bid Formi 1--%
4-D 10: 26 D,
Ps 02
October 16, 1995
City Council Memben,
City Hall
Kalispell, MT 59901
Udies and gentleinen.-
an
rei:
Fixec�-Income Depanmerit
Davidson aufidft
6 Third St. No.
P.O. BOX 50 15
Oreat Falls, MT 59403
(408) 771-4360
I-WO-332-5915
PAX (406) 791-7315
For $209,000 par value of legally issued aW properly executcd bonds of Kalispell Special frnproyemcnt
District No. 342 , Series 1995 (the "Issue") as more fully dese.n"bed in the Official Notice of Sale, which
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Notice of Sale is hereby rnade a part of this Proposal, we wUl pay you $20.2.,730, plus a toW premium
V
of $0.00 and accrued interen from the date of the Bonds to the date of delivery to us m Kalispell,
MonWa for bonds matur"Ing July 1 � 1997/2008 and dated November 1,, 199,5
The first interest will be due and payable Januaq 1, 1997. Interest will be due, and payable
semiannuaRy each January I ar,,d July 1, theirafter. Bonds vill bear m'terest as follows:
DATE
AMOUNT
RATE
DATE
AMOUNT
RATE
19917
$9,000
4.50%
2005
$15,000
6.00%
1998
10�000
4.75
2006
15,000
6.10
1999
10�000
5.00
2007
15�000
6.15
2000
109000
5-20
2008
15t000
6.20
2001
1 (OW
5.40
2009
20,000
6,25
2002
10 -Y 000
5.60
2010
201WO
6.25
2003
15,000
5.75
2011
2000
6.25
2004
15,000
5.90
The net effective m"terest rate based upon the aboje varymg rates, the maturity schedule as set f-o-rtb
pussuant to the Notice of Sale and purchase pn'ce of $202,730 of par value is 6.3401 %,
Prior to our aocepting dielivery of said Secuxftles, you agree to fumish a certified tranwiipt of legal
p.Toceeding S req i I I
u site to their 'issuance and delivery, inctuding pro=dings requ#red for the creation of
s id Issue, and for the execution of a contract and s=ety bonds - Lhe full amount of such contract
al in
assuring the completion of thci-mPruvemi�unls to be fluanced by the Bonds m" accordai= with the plans
and specificati'ons and at a cost, including all incidenW costs. not exceeding the priacipal amount of
the Bonds in and including a signature and non -litigation cvrfficates in the customary form to the effe(,�-t
that there 1"s no Pending or threatened 11tigadon involving the Issue.
VZ
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OP�4CES a MONTANA * VA$HINGTON o IDAHO # WYOMING a CAUFORMA
SENT BY:
10-20-95 1-3:10 CITY OF KALISPELL--f 40654308634 3/ 3
This Proposal is made subject to the unqualified approving legal opinion of bond anomeys ro be
designated by us, as to the legality of the Bonds., as to the interest being free from Federal and State
of Montana income taxes, and subject Eo the establishment by the City "in said proceedings of the
maximum security for rhe Bonds which is pennitted by the provisions of Title 7,, Chapter 12,, Part 21,
Montana Code Annotated., as amended. Said rnaxhum security is to include the adoption of a
Resolution by the City agreeing to make good any deficiency in the principal and interest account to
the extent funds are available and to provide funds for such Revolving Fund by making a tax levy and
loan as 'i's necessary to cause such payment. The City hereby,agrees to maintain the Revolving Fund
in an amount equal to no less than 5.00% of all outstanding Special Improvement Bonds of the City,
so long as any bonds of this 'issue are outstanding.
The ]Bonds are to be delivered to us on December 1, 1995 or thereafter at our option.
We herewith hand you our Good Faith Cbeck for $2,000 as evidence of our Good Faith L'a complying
with the terms and condifions of this Proposal which is to apply as part payment for said Bonds when
the legality or security of same has been approved by our attorneys, and to be forfeiw as fully
liquidated damages should we fail or refim to take up said Bonds as above provided. Said check is
to be returned to us if this Proposal is not accepted, or if the above attorneys should decline to approve
the legality or securky of this issue. This offer is for inunediate acceptance.
Respectfully subrrukted,,
D.A. Davidson & Co.
BY'.
n U. Easley
Vice President
Accepted for and on behalf of the City of Kalispell, Montana pursuant to auftra"ation by its goveming
body receipt of the above -mentioned check is hereby acknowledged on this 16th day of October, 1995.
1b
VK-3 Dfrector of Finance
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