Tab 25 Receipt of Purchaser$11581�500
Special Improvement District No. 343 Bonds
City of Kalispell, Montana
RECEIPT OF PURCHASER
D.A. Davidson & Co., as purchaser of the $1,581,500 Special Improvement District No.
343 Bonds, dated June 1, 2001, hereby acknowledges receipt this date from the City of said
Bonds,, fully authenticated, maturing on July I in the years and amounts and payable at the rates
set forth below:
Principal
Principal
Year
Amount
Rate
Year
-Amount
Rate
2002
$76�500
3.60%
2012
$805,000
4.90%
2003
7500
3.75
2013
8000
5.00
2004
7500
4.00
2014
80.00
5.10
2005
75.00
4.10
2015
809000
5.20
2006
809000
4.20
2016
80NO
5.30
2007
8000
4.35
2017
805000
5.40
2008
80NO
4.50
2018
809000
5.50
2009
80)000
4.60
2019
8000
5.50
2010
80X0
4.70
2020
805000
5.50
2011
80NO
4.80
2021
8000
5.50
Dated: June 12, 2001.
D.A. DAVIDSON & CO.
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$1,58 1 �500
Special hnprovement District No. 343 Bonds
City of Kalispell, Montana
CERTIFICATE OF D.A. DAVIDSON & CO.
D.A. Davidson & Co., as financial advisor and original purchaser ("D.A. Davidson"), in
connection with the issuance by the City of Kalispell, Montana (the "City"), of its $1,581,500
Special L-nprovement District No. 343 Bonds, originally dated and registered as of June 1, 2001
(the 6'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. D.A. Davidson has reoffered the Bonds of each maturity to the public at a price of par
(100%), and as of both May 23, 2001 and the date hereof, D.A. Davidson reasonably expected
that the first price at which a substantial amount (at least 10%) of the Bonds of each stated
maturity would be sold to the public would be at said price.
3. 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 10.645 years.
4. Based on the initial reoffering prices of the Bonds certified to by the original
purchaser, the yield of the Bonds, calculated in accordance with Section 148(h) of the Internal
Revenue Code of 1986, as amended (the "Code"), is 5.05196% per annum.
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
1999), or in the Officers' Certificate of the City of even date herewith. This Certificate is being
furnished to Dorsey & Whitney LLP for the purpose, among other things, of completing and
filing on a timely basis Internal Revenue Service Form 8038-G for the Bonds.
Dated: June 12, 2001.
D.A. DAVIDSON & CO.
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