Tab 30 Closing InstructionsnA. Davi'dson & Co.
member SIPC
Bridget R. Ekstrom
Vice President, Public Finance
DATE: June 6. 2001
Al jM Oj LVJ I
'V
Q S
TO: Parties Involved in June 12 Closing
FROM: Bridget Ekstrom
RE $ 1 �5815500 City of Kalispell, Montana Special Improvement District No. 343 Bonds,
Series 2001
Enclosed you will find the instructions for the closing of the above -referenced bond issue scheduled
for Tuesday, June 12. If you have any questions or comments please call.
Our thanks to each of you for your help in bringing this financing to a successful conclusion.
cc: Mr. Chris Kukulski, City Manager
Ms. Amy Robertson, City Finance Director
Mr. Kreg Jones, D.A. Davidson & Co.
Ms. Mary Brennen-Dutro, D.A. Davidson & Co.
Ms. Andrea Mikulecky, D.A. Davidson & Co.
Public Finance — www.dadavidson.com
529 East Main 10 RO. Box 8000 10 Bozeman, MT 59715 0 (406) 582-3457 (800) 233-4359 10 FAX (406) 587-9634
Montana 11 Washington 19 Idaho '0 Wyoming 11 Oregon Utah * California
$195819500
City of Kalispell, Montana
Special Improvement District Bonds No. 343, Series 2001
CLOSING INSTRUCTIONS AND DEPOSIT OF PROCEEDS
PARTIES:
Issuer ............................................................................. City of Kalispell, Montana
Contact: Ms. Carol Kostman
City Finance Department
(406) 758-7750
Underwriter ................................................................... D.A. Davidson & Co.
Contacts: Ms. Bridget Ekstrom
(406) 582-3457
Ms. Jean Stimac.
(406) 791-7293
Paying Agent and Registrar ............ .... o.. * a *. * a U. S. Bank Trust
Contact: Ms. Sherrie Pantle
(206) 344-4676
Bond Counsel ................................................................ Dorsey & Whitney LLP
Contact: Mr. Dan Semmens
(406) 721-6025
PRE -CLOSING:
Signing of all closing documents will take place prior to closing.
1
CLOSING INSTRUCTIONS:
Upon verification of the execution of applicable closing documents by Dorsey & Whitney LLP, D.A.
Davidson & Co. will wire the closing amount pursuant to the wire instructions shown below as early
as possible on the morning of Tuesday, June 12. The wire transfer must be completed as
expeditiously as possible to meet the required closing time of H: 00 A.M. (m. T.) as required by the
Depository Trust Company ('4DTC -Y).
2. The City should notify D.A. Davidson & Co. and Dorsey & Whitney as soon as they have received
the wire transfer, which should be no later than10:00 A.M. (M.T.).
3. Upon verification of receipt of the wire transfer, U.S. Bank Trust and D.A. Davidson & Co. (Jean
Stimac) will contact DTC to instruct them to release Bonds.
WIRE TRANSFERS:
The following transfer will be required to effect closing of this transaction on June 12:
PARTEES: ....................................................... From D.A. Davidson & Co. to the City of Kalispell
AMOUNT: ...................................................... $1,520,552.49 (Representing net payment for the Bonds as
shown below.)
TRANSFER INSTRUCTIONS: .....................
Calculated as follows:
Par Amount of Bonds:
$L5815500.00
Less: Good Faith Deposit
(31,630.00)
Less: Underwriter's Discount
(31fi30.00)
Plus: Accrued Interest
....... . ...... ..... .... ... ... . 25312.49
Net Amount Due
SIP5202552.49
Wells Fargo Bank Minnesota
ABA No.: 091000019
Account: City of Kalispell
Account No.: 4270002030
Re: City of Kalispell SID No. 343
Bank Phone: (406) 756-4000 (Pam)
0
DEPOSIT OF BOND PROCEEDS AND SUMMARY INFORMATION:
Upon receipt of the wire transfer in the amount of $1,520,552,49, the City will deposit the proceeds into the
funds. and accounts outlined below. The good faith deposit in the amount of $31,630,which was received at
the time of sale and has already been deposited into the Construction Account, and the Underwriter's
Discount, which was in the aggregate amount of $31,630 and has been paid from the wire transfer, are also
shown below.
Deposit of Bond Proceeds at Closing:
Amount
Deposit to Construction Account
$1 X01090.00
City Administration Fee
40,000.00
Deposit to Revolving Fund (5%)
7%075.00
Deposit to District Reserve Account (5%)
795075-00
Deposit to Interest Account (from Accrued Interest*)
2.1312.49
Total Deposit of Proceeds at Closing
$L52%552.49
Total Proceeds of the Bonds:
Plus: Previous Good Faith Deposit deposited to Construction Account
$31)630.00
Plus: Underwriter's Discount Paid with the Wire Transfer
31,630.00
Total Proceeds of the Bonds including Accrued Interest
SI.583PS12.49
Total Costs of the Project:
Plus: City Contn'bution from Gas Tax Funds 1 $372000.00
Total Costs of the Project 1 $1.62%8.12.49
* Accrued interest represents interest on the Bonds from the dated date, June I, through closing, June 12.
a
MAY-23-01 WED 12'39 PH DA,DAVIDSON & Co. FAX NO, 406 791 7315 P, 02
$10581500 - FINAL Rates
City of KatispetL
SpeciaL improvcment District No. 343 Bonds, Serie5 2001
Debt Service Schedule
Date
-------- --------------
Principal
Coupon
oa�-*Owa
Interw
Period ToraL
Fiscal TotaL
I/
1/ 2
--- Amm"wenowwowww
444147.54
www -----------
44,147.54
--------------
7/
1/ 2
76j500.00
5.60000
371,840.75
1148340.75
158,488.29
1/
1/ 3
36o463,75
36o463.75
7/
1/ 3
75pOOO,OO
3.750000
36f463.75
1110463.7$
147,927.50
1/
1/ 4
35FOS7.50
351057.50
7/
1/ 4
75f000,00
4,000000
35gO57.50
1101057.5Q
145,115.00
1/
1/ 5
331557.50
33,557.50
7/
1/ 5
75P000.00
4.100000
331$57.50
1081557.50
142,115.00
1/
1/ 6
32,020.00
32oO2O,OO
7/
1/ 6
80r000,00
4.200000
32,020.00
1120020.00
144f040,00
1/
1/ 7
30j340.00
-30r340100
7/
1/ 7
800000.00
4.350000
30,340.00
110,340.00
1400680.00
1/
1/ 8
280600.00
28,600.00
7/
1/ 8
80,000.00
4.500000
28f600,00
108f600.00
1370200.00
1/
1/ 9
26f800,-00
26;800.00
7/
1/ 9
80,000.00
4,600000
26,800,00
1061800.00
1330160D.00
1/
1/10
240960.00
24,960.00
7/
1/10
800000.00
4.700000
24F960.00
1048960.00
1290920.00
1/
1/11
23,080,00
23(08D'00
7/
1/11
802000.00
4.800000
23�080.00
1030080.00
126ri6o'00
1/
1/12
210160.00
21f160.00
7/
1/12
80j000.00
4,900000
21C160.00
1019160.00
1220320.00
1/
1/13
19,200.00
19r200.00
7/
1/13
80r000.00
5.000000
19,200.00
99;200.00
118Y400.00
1/
1/14
17,0200.00
17f200.00
7/
1/14
80YO00.00
5.100000
17,200.00
97,200.00
114,400.00
1/
1/15
15r160,00
1511160.00
7/
1/15
808000.00
5.200000
150160.00
95F160.00
110.1320.00
1/
1/16
130?080.00
13#080.00
7/
1/16
80,000.00
5.300000
13FOB0.00
931080.00
1060160.00
1/
1/17
10,960.00
10F960.00
7/
1/17
SOV000,00
5.400000
10,960.00
90p960.00
101F920.00
1/
1/18
80800.00
80800.00
7/
1/18
80,000.00
5,500000
8r800100
880800.00
97,600.00
1/
1/19
61600.00
68600.00
7/
1/19
80A00.00
5.500000
6r600.00
8601600.00
93;200.00
1/
1/20
41400.00
41400.00
7/
1/20
80A00.00
5.500000
41400.00
84f4OO.00
88;800.00
it
1/21
21200.00
2;200.00
7/
1/21
800000.00
5.500000
20200.00
82,200.00
840400.00
MAY-23-01 WED 12:40 PH D,A,DAVIDSON & Co. FAX NO, 406 791 7315 Ps 03
$11581r500 - FINAL Rates
City of KaHspetL
SpeciaL Improvement District No. 343 Bonds, Series 2001
tMMM"Wwww"" ------ ====
Debt Service Schedule
Date PrincipaL Coupon Interest Period Total FiscaL Totat
-------- ------ �Awwwftffiuua ----------- --------------
--------------
IvWs500,00 861,265-79 2,442,765.79
ACCRUED 20312.49 2,312.49
lF581,500.00 858r953.30 204408453.30
Dated 6/ 1/ 1 with Deliyery of 6/12/ 1
Bond Years 16,883.292
Averase Coupon 5,101291
Averagc Life 10.675493
N I C 5.288636 % using 98.0000000
T I C 5,312796 % From Dated Date