Tab 24 Receipt of Purchaser$209,000
Special Improvement District No. 342 Bonds
City of Kalispell, Montana
RECEIPT OF PURCHASER
D. A. Davidson & Co., in Great Falls, Montana, as purchaser of the
$209,000 Special Improvement District No. 342 Bonds, dated November 1, 1995,
hereby acknowledges receipt this date from the City of said Bonds, fully
authenticated., maturing on July 1 in the years and amounts and payable at the rates
set forth below. -
Principal
Year Amount Rate
1997
$9.1000
4.50%
1998
10,000
4.75
1999
10,000
5.00
2000
10'f000
5.20
2001
10,000
5.40
2002
10'f000
5.60
2003
15,000
5.75
2004
15,000
5.90
Dated: November 16,1995.
Principal
Year
Amount
Rate
2005
$15,00
6.00%
2006
15,000
6.10
2007
15,000
6.15
2008
15,000
6.20
2009
20f000
6.25
2010
20,000
6.25
2011
20,000
6.25
D. A. DAVIDSON & CO.
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$209,000
Special Improvement District No. 342 Bonds
City of Kalispell, Montana
CERTIFICATE OF ORIGINAL PURCHASER
D. A. Davidson & Co., in Great Falls, Montana (the Original Purchaser),
in connection with the issuance by the City of Kalispell, Montana (the City), of its
$209,000 Special Improvement District No. 342 Bonds, originally dated and
registered as of November 1, 1995 (the Bonds), by its undersigned duly authorized
officer, certifies as follows:
1. The bid accepted by the City for the purchase of the Bonds is a
reasonable bid under customary standards applicable in the municipal bond market.
2. The Original Purchaser has reoffered the Bonds of each maturity to
the public at a price of par (100%), and as of the date hereof at least 10% of the
principal amount of each stated maturity of the Bonds has been sold at said price.
3. Based upon the initial reoffering prices, the yield of the Bonds,
calculated in accordance with Section 148(h) of the Internal Revenue Code of'1986"
as amended (the "Code"), is 5.98416959% per annum.
4. The weighted average maturity of the Bonds, based on the issue
price of each stated maturity of the Bonds from their date of issue (not on the basis
of the principal amount of the Bonds or from their dated date), is 9.735912 years.
5. The terms used herein have the same meaning given them in
Section 148 of the Code, applicable Treasury Regulations thereunder, in the
Instructions for Form 8038-G (Rev. May 1995), or in the Officers' Certificate of the
City of even date herewith. This Certificate is being furnished to Dorsey & Whitney
P.L.L.P. for the purpose, among other things, of completing and filing on a timely
basis Internal Revenue Service Form 8038-G for the Bonds.
Dated: November 16,1995.
D. A. DAVIDSON & CO.
CA
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