Tab 12 Affidavit of Pub of Notice of SaleSTATE OF MONTANA
FLATHEAD COUNTY
AFFIDAVIT OF PUBLICATION
DOROTHY GLENCROSS BEING DULY
SWORN, DEPOSES AND SAYS: THAT SHE IS'
LEGAL CLERK OF THE DAILY INTER LAKE, A
DAILY NEWSPAPER OF GENERAL
CIRCULATION, PRIN D AND PUBLISHED IN
THE CITY OF KALISPELL, IN THE COUNTY OF
FLATHEAD, STATE OF MONTANA, AND THAT
.... ... .... .. -
NO* 4669 LEGAL ADVERTISEMENT WAS
PRINTED AND PUBLISTI[ED IN THE REGULAR
AND ENTIRE ISSUE OF SAID PAPER, AND IN
EACH AND F-VERY COPY THEREOF ON THE
DATES OF MAY 9 & 16, 2001
AND THE RATE CHARGED FOR THE ABOVE
PRINTING DOES NOT EXCEED TEE MINIMUM
GOING RATE CHARGED TO ANY OTBER
ADVERTISER FOR THE SAME PUBLICATION,
SET IN THE SAME SIZE TYPE AND PUBLISHED
F TBE SAME NUMBER OF INSERTIONS.
Subscribed and sworn to before me this
A. AY. 1 20101
Public for the State of Montana
P4'Res in Kalispell
my ission expires 5/30/03
'No. 4669
I
of (i) the average -rate of
Bonds shall -be payable
J NOTICE OF BOND
interest borne by the
semiannually on each
SALE
then outstanding Bonds,
January 1 and July 1
FACE AMOUNT SPE-
plus (ii)- one-half of one
commencing January 1
T**IAL IWROVEMENT
percent (0.50%) per an-
2002 -and continuing
I)ISTRICT NO. 343
num.
through July 1, 2021�
��ONDS
The City will establish
subject to prior redemp-
CITY OF KALISPELL,
in the"District Fund, and
tion. Serial bonds shall
MONTANA
fund with $79,075 f rom
be in the denomination
NOTICE IS HEREBY
proceeds of the Bonds,
of $5,000 each or -any
1��IVEN that the City of
I a District Reserve Ac-
integral multiple thereof
kalispell, Montana' (the
I count (the " Res' erve Ac-
of single maturities; pro -
"City"), will sell to the
, count"), from which
vided that one Bond
'highest and best bidder
moneys are to be ap-
with a stated maturity in
,or c as evidenced
ash,
plied to pay principal of
2002 shall. be in the
)y sea.led bids, the
and. inte-rest on the
principal- amount of
"ibove-described Bonds
I Bonds in the event col-
$6,500.
-drawn : against -the fund
1 lections of special as
Book Entry
of Special Improvement..'
sessments are insuffi
--The Bonds�will be is-
-No 343 in
)istrict the
cient 'therefore. The
sued by means of a
�L_ __ _, __
Jri am o u rtt of
ncl
CitV hat:no-pbligat ionto
p nii� e
e ' r le `_ fith&� R'e8_TV6'
book entry system with
-no Physical distribution
Sealed bids for the
Acc6u,nt-if -fu'nds. are
of B,o-6ds--mad_e.'_to`th_6_
D, urchase ofthe Bonds
withdrawn, therefrom.
public.. -The Bonds,will
. ... ...... Vill be received until
The -Bonds are further
be,issued in fully �qgis__
12:00 MT, on
secured by the Special
tered - form and on'e
-Noon,
......lVednesday the 23rd
I
Improvement District
'Bond;- representing the
day of May, 2001, at the
Revolving Fund of, the
"Revolvin
aggregate principal
of the City Clerk in
City (the -9
amount of the Bonds
....,office
�,a ispell, Montana, at
Fund"). The City will
matufing in each -year,
312-1st Avenue East,
agree to make - a loan
will be registered in the
,�alispelll Montana, at
from the Revolving
Fund to the district fund
name of Cede & Co. as
which time the bids will
opened and t8bulat-
established for the Dis-
"District
nominee of The Deposi-
tory Trust Company
'be
)d. The City Council of
trict (the
("DTC"), New York,
�h - w
e City ill meet at
Fund") to make good
New York, which will act
r
.1:00 o'clock p.m. on
any deficiency then 0x-
as securities depository
the sarne day- in the
'sting in the principal
of the- Bonds. Individual
Council'Chambers'to
and'interest accounts
purchases of the Bonds
... ",onsider the bids and
therein after depletion of
may be made in the
1"he award of sale of the
the Reserve Account
i
principal amount of
31 ond� and, if a respon-
and to provide -funds for
$5,000 or any multiple
I......,
sive and acceptable bid
the Revolving Fund by
thereof of a single ma -
is received, award the
levying a tax or making
turity, provided that one
Series 2001 Bonds to
a. loan from the City' s
Bond with; a stated ma -
,,he responsive bidder.
general fund to the ex -
turity in 2002 shall be in
Aose bid reflects the
tent -and for the period
the principal amount of
lowest true interest cost
authorized by the Act.
$6,500, through book
to the City.
Date and Type
entries, made on the
1 Purpose and Security
The Bonds will be dat-
books and records of
The Bonds will be is-
ed, as,originally issued
DTC and its partici
?,ued for the purpose of
as of June 1, 2001, and
pants. Principal and in-
financing the cost of ''
will be issued as nego-
terest are payable by,
construction of certain !
tiabl6,:investment securi-
the registrar to DTC or
I-pical improvements (the',�
ties in registered form
its nominee as regis-
Improvements") within w
as to. -both principal and
-te-red owner of the
- �r for the benefit of S e-
p
cial Improvement Dis-
interest.
MaturRies and Form
I
Bonds. Transfer,of prin-
cipal and int erest pay-
trict- No.'343 (the "Dis-
'If issued as serial
I
ments to participants of
...+Tict"), in accordance
bonds, the Bonds shall
DTC will be the respon-
the provisions of
m ature subject to re-
sibility of DTC; transfer
,V�ith.
Aontana Code Annotat-
demption, on �Jiily 1 in
of principal and interest
id, Title.7, Chapter 12,
the following years and
payments to beneficial
Parts 41 and 42, as
"Act").
amounts:
Principal
owners- by particippnts
i mended (the
)'he Bonds willbe spe-
Year Afflount
will be the responsibility
of such participants and
lial, limited obligations
2002 $76,500
other nominees. of bene-
6f the City and do not
2003 75,000
ficial owners. The pur-
constitute general obli-
2004 75,000
chaser, as a condition of
9, ations of. the City.
2005 75,000
delivery of the Bonds,
The Bonds are payc
2006 80,000
will be required to de
`)Ie primarily from the
2007 80,000
posit the, Bonds with
of a special
2008 80,000
2009 80,000
DTC.
tax or assessment
which is a lien against
Mo 80,000
Redemption
Mandatory Redemp-
�he assessable real
2011 80,000
tion. - If -on any interest
-property within the Dis-
2012 80,000
payment date there will
&ict benefited by the lm-
2013 80,000
be a balance in the'Dis-
provements to be un-
2014 :801000
trict Fund after payment
Jertaken therein or
2015 80,000
of the' principal and
.' in
The special
2016 80,000
terest due on all Bonds
'
4'ssessments are paya-
2017 80,000
Arawn against it, either
ble in semiannual in-
2018 807000
'from the prepayment of
stallments over a term
2019 80,000
spe'cial assessments
niot exceeding 20 years,
2020 80,000
Aevied in the Districts or
pach -in equal semian-
2021 80,000
from the transfer of sur-
"wal inst 'llments of prin-
a
If issued as amortiza-1plus money from. the
. ......... :Cipal, plus interest, with
tion bonds, the -Bonds
Construction Account to
unpaid installments of
will be Jssued. -as a sin-
the Principal Account,
the special a,ssess-
gle- bond or divided into
outstanding Bonds, or
I bearing 'interest
several bonds, as the
portions thereof, in an
_,nents
a rate -equal, from
Council may determine
amount which,,together
ome to time, to the sum
a nd tho principal of the
with the interest thereon
to the interest payment the highest and lowest �obligations" within the
-date, wi I equiii ine �rate being no greater
imeaning of Section
amount of such funds than 3.50%.
!265(b)�3) of the Internal
on deposit in the District Bond,-Registra'r, Trans-
!Revenue Code of 1986,
on that date are fer Agent
!.as amended (the
,IFund
subject to mandatory re- and Paying Agent
1"Code"), a,nd financial
demption on that inter-
The City shall select a
institutions described in
est payment date. The
bond registrar, transfer
Section 265(b)(5) of the
redemption price shall
agent and paying agent
Code may- treat the
equal the amount- of the
(the Registrar ) in
Bonds for purposes of
principal amount of the
connection with the
Sections 266(b)(2) and
1291(e)(1)(B)
Bonds.to be redeemed
. Bonds. The bond regis-
of the
Iplus interest accrued to
ter will be kept,- transfers
lot
Code as if they were ac-
the date of redemption.
ownership will be ef-
quired on August 7,
Optional Redemption.
Ifected and principal of
f
19186.�
:The Bonds are subject
and int-e�rbst on the
7-LeOl 00ini6h,
to. redemption, in whole
-or in part;- at the option
bonds Will, be paid by
ihe -Registrar, The City
An-opirflon as -to the
validity of,the Bonds
..of, the City from sources will pay the charges _of
and the exclusion of the
Of'funds av6ilable1he re- '.the Registrar for -such
fore other than those The City re-
interest thereon from
gross income for federal
,described under "Man- iserves - the right to -re-
datory Redemption" on 'move the Registrar
7incom,e tax. purposes
and Montan6'individual
and
any interest payment to appoint a successor.,
Aate; provided, howev- Delivery
income tax -purposes
will be furnished by Dor-
er, the Bonds shall not Within 45 d ys 'after
a
sey-.& Whitney LLP, of
zbe called for redemption the sale, the City will -de-
Mi soula, Mont
S ana, and
(i) f rom amounts on de; liver to the'Registrarthe
posit in the Reserve Ac- printed B6 nds. ready for
Minneapolis, Minnesota-,
as Bond Counsel. The
count or (ii) before July completion and authen-
1i 2006, from the pr6- tication. - The'orrginal
legal' opin'iori Will be
printed on the Bonds.
i
'
ceeds of refunding-spe purchaser of the Bonds
The h inion wi 11
egal opi
cial improvernient district must notify the Regis-
�bonds or warrants. 'The trar, at least five'busi-
state that the Bonds are
valid and binding spe-
redemption price shall ness..days before issu-
cial, limited obligations
equa] the principal ance'of the Bonds, of
lamount of the Bonds to the per -sons in whose
9f the City enforceable
in accordance with -their
be,redeemed plus inter- names the Bonds will be
terms, except to the ex-
est accrued to the date initially registered and
tent to which enforcea-
of redemption. the denominations of
Selection of Bonds for the Bonds to be,orig'irial'-
bility thereof may be lim-
ited by the exercise of
Redemption. If less ly issued. If notification
.than all of the Bonds are is not received by that
judicial discretion or by
state or federal laws re -
to'. -be redeemed, Bonds date, the Bonds will be
shall be redeemed in or- registered in'the name
lating to bankruptcy, re-
organization, moratori-
'
;
-der of the stated maturi- of the original purchaser
um or;creditors rights.
'
t ties thereof. If less than I
and, if serial bonds, will
Type 0 t Bid and Good
fall Bonds. of a' slated 1
be issued in denomina-
Faith Deposit
maturity are to be re- Itions
corresponding to
Sea -led bids for not
'deemed, the Bonds of 1the
principal maturities
less than $1,549,870
.tsuch maturity shall be
of the Bonds. On the
and accrued interest on
!sielected for redemption I
.ih $5,000 principal 1will
day of. closing, the City
furnish to the'-pur-
the principal gum of
FACE ' AMOUNT must
'led
,amounts selected by the 'chaser
the --opinion,of
be rrial - or- delivered
�,Regisitrair_ by lot or other
'mannet.it deems1air,
' I
Bond. Counsel- herein-
afte'r described, an - arbi-
to. the undersigned and
must be -received at the
�except that the Bond trage certification and a
office of'the City -Clerk
;with'a stated maturity in certificate stating that no
:2002 and in the princi- litigation in any manner
prior to the time stated.
above. Bidders ' must
pal amount of $6,500 questioning the validity
shall be �redeemed be- of the' Bonds is th,en
bid,for all ' or. none of the
Bonds. Each bid must
fore other Bonds of ipendin,g or, to the
such stated maturity. 1knowledge of officers of
be unconditional.
Except for a bid by or
.. Interest Payment. the. City, threatened.
on behalf of the, Board
.Dates, Rates Payment for -the Bonds
of Investments of the
Interest will be- paya. must be received by the.
ble each July 1 and Jan- City in immediately
State, of . Montana, a
good faith -deposit (the
"Deposit")
uary 1, commencing available funds at. its
January 1, 2002, to the designated depository
in the form of
money, cashier`8 check,
registered owners of the on the day of closing.
Bonds as such appear The suiccessful bidder
certified chleck, bank
money order, or -bank
in the bond register as shall submit to -the -City
draft drawn and issued
of the close of business Clerk not earlier than 48
by a federally chartered
on the 15th day.(wheth- hours after the award of
er or not a business sale and not later� than
gr state chartered bank
insured by the federa-I
day) of the immediately the day of closing a cer-
deposit insurance cor-
Month. All tificate, in form satisfac-
poration or -a financial
;Preceding
,Bonds of the same, stat. tory to Bond Counsel,
surety bond in the sum
ed maturity. must'bear as to the initial reoffer-.
of $31.,630'.payable to
-interest from date of ing price of each stated
the order. of the City is
original issue until paid maturity of the Bonds
required. for a bid to be
at a single, uniform rate. :and stating that at least
Each rate -must. be ex- �ten percent of the princi-
considered. It money,
cashier's check, certified
pressed in an;.integral
!multiple of 1/8 or - 5/10 1pal amount of such
I
-0 !Bonds of each stated
check'- bank money or -
der, ;r bank draft is
;of 1%. Interest will be PmaturitY has been sb1d
calculated 'on the -basis iat such respective pri-
used, it must accompa-
ny the'bid'and be deliv-
of a,360-day year con- i ces.
ered to the Financial Of-
sisting �-.Of tw 'Ive -30-day
e :Qualified Tax -Exempt
,,months.- 1ndividual in- 'Obligations
ficer. . It a financial sure-
ty, bond, is;usedj,_it. must
1terest rates -may be no The Bonds -will be des-
phigher than 7 00%, with :ignated by the'City as
-between'
be from.an. insurance
company licensed and
.the' differe'nce "qualified tax-exempt
qualified to issue such a
hnn?i in tha �.Otntp nf
.Aontana and such bond
.hust 'be submitted to
the Financial, Officer, or
__�he Ci�y�s,financial advi-
or prior to.- the opening
'if the bids. The financial
'urety bond must �idehti-
fy each,bidder Whose
Deposit is guaranteed
ly - such f inincial suroty
lond. If the Bonds are
Jwarded to a bidder uti-
lizing a financial. surety
blond, then -that purchas-
lr is required to submit
De - positto the City in
o') e form of a cashier's 1
check (or wire irahsfer i
s,uoh amo unt as in -
the City or
ructed by
J
,s financial advisor) not
ater than 1:00 p.m.,
Mountain Daylight Time,
on the next business
!�y following the award.
1 such Deposit is not re-
Jeived by. -that time, the
financial surety bond
may be drawn by the
flty to satisfy the De-
iosit requirement.. No
iterest -on the Deposit
will accrue -to the pur-
"chaser. The Deposit -will
e applied to the pur-
1hase price of . the
Jonds. In the event the
purchaser fails to honor
its accepted, bid, the De -
ill -be retained by
i
osit W1
�he City as liquidated
Aamages' The, Deposit
of the unsuccessful bid-
ders will be returned im-
; 'on award of
,,Dediately,
'he Bonds to -the pur-
i-haser or after rejection
of all bids.' Instructions
for wiring the'Deposit
��nay be obtained from i
,"he City's Financial Ad-
lisor, Bridget Ekstrom,
Vice President, D.A. Da-
vidson & Company, 529
tast main Street, Boze-
�,'nan, Montana, 59715,
-4359.
800)233
Award
The.bid authorizin
9
e
,,he low st true interest
ost (a present value
�Ilalculation of total inter-
est on all Bonds from
June 1,, .2001 to their
aturities less an pre- I
y
,-,,ni.um or'plus any dis- 1.
. bount), will be deemed 'I
1he most favorable. In 11
the event that two or
more bids statO,the low-.
ast net interest cost, the
,,sale of the Bonds will be
awarded by lot. No oral
bid will be considered.
The City,reserves the
rights to reject any and
lall'bids, to waive,infor-
. ... ........ malities in any bid and
to adjourn the sale.
CUSIP Numbers-,
I The City will assume
!no obligation for the as-
.. .......... . signment or printing of
CUSIP numbers on the
Bonds or for the correct
�ness of any numbers
2printed thereon, butwill
permit such numbers to
be assigned and printed
,at the expense of the,
if thd original
purchaser,
p
urchaser,waives any
delay in delivery occa-
sioned thereby.
Off icial Statement
The City will prepare
an.:Official Statement re-
lating to the Bonds
which the -City wi-Il
deem,.for purposes, of
SEC Rule 15c2-12-, to
be final as of. its -date.
The City will deliver, at
closing,; a.-certilf.1cate
executed hy-.th
th-e"�City''..016rk�-;an-d �We
.F['n"6hcidl''-Offide'�"to-:'the
effect that, to 66 best of
their knowledge,,as- of
the date -of closirij, the
information contained in
the Official. Statement,
including any supple-
ment thereto, does not
contain any untrue
statement of a material
fact or omit to.state a
material fact necessary
to make,the statements
therein, in light of the
circumstances- in. which
they are made, not mis-
leading;. provided that
no comment wil I be
made with respect to.1
any informatiorr provid-
�ed by 'the successful I
bidder for''Inclusion. in
any -supplemen't-to''the
Official Statement `6i'd -for
... By submitting a
the, Bonds, the- success-
ful bidder agrees: (1) to
disseminate to all mem.� i
bers of the underwriting
syndicate copies of the
Official Statement, in-
cluding an tU -pie-,
Y P
ments prepared by the
City, (2) to file promptly�
a -copy of the Official
Statement, .- including
any supplement pre.
pared by the City, With a:
nationally recognized
municipal 'securities re.-
Pository, and (3) to take,
any and all other actions'
necessary to co'moly
with applicable rules of
the Securities and 'Ex-
change Commissionl
and,the Municipal Se�'
curities -Ru.1emakingi
Board governing the,of-
fering,'sale and delivieryi.
of the Bonds to. ultimate;
purchasers.
Within . seven busirf6ss
days after the sale; -the
City will furnish -to the
successful, bidder with-
out charge up to 100.
copies of -the final Off i-
cial Statement relating
to the -Bonds. The suc-
cessful bidder must noti-
fy the Financial Officer
in writing within . seven
'business days after the
award 'of sale of the
Bonds if it requ'ires addi-
tional copies of the Off i.
cial Statement. The cost
of additional copies
shall be paid by the suc-
cessful bidder.
Continuing Disclosure
In order -to permit bid-
ders for the Bonds and
other participating un-
derwriters, in the primary
o 'ffer' ' of. the -Bonds to
ing
domply With,paragraph
(b)(5) of Rule 15c2-12
promulgated by the Se-
curities -and Exchange
Commission under the
Securities. Exchange Act
of -1934- (the "'Rule"), the
City Will toVenant and
agree, for the benefit of
the registered holders
and- beneficial owners
from time to time of the
-outstanding 'Bonds, in
jhij resolution -prescrib-
ing, the - terms of. the
Bonds, to pTovide annu-
al reports of,.specified
information and notice
of the occurrence of cer-
tain events, if material.
The City and the District
Fund' and Revolving
Fund are the only "obli-
gated persons" in re-
spect of the Bonds with-
in the meaning of.the
Rule forthe'purposes of
disclosing information
on an ongoing basis. A
description of the under-
taking is set forth in the
Official Statement. Fail-
ure of, -the -City to enter
into ar'v un - dertaking sub-
stantially'similat to -that
described in_the -Off idial
'Statement would'relieve
the successful bidder of
its ob ' ligation to pur-
chase the Bonds. The
City has complied in all
material respects with
any undertaking previ-
ously,entered into by it
under the Rule.
'Information for bidders
and bidding forms may
be obiained from the
undersigned City Clerk,
in Kalispell, Montana,
telephone (406) 758-
7701,. or from D.A. Da-
vidson & Co,mpany in
Bozeman, Montana, tel-
-ephone (800) 233-435%
financial consultants to
the City.
Dated: May 7, 2001.
BY ORDER kOF THE
CITY COUNCIL
/s/Theresa White
Theresa White, City
Clerk
City of Kalispell,' Mon-
tana
May 97 16, 2001