Tab 24 Closing Instructions$4952 09000
City of Kalispell, Montana
Special Improvement District No. 344 Bonds, Series 2006
CLOSING INSTRUCTIONS AND DEPOSIT OF PROCEEDS
PARTIES:
Issuer ................................................... City of Kalispell, Montana
Contact: Amy Robertson,
Finance Director
(406) 758-7755
Payffig Agent and Registrar ........................................... U.S. Bank National Association
Contact: Ms. Sherrie Pantle
(206) 344-4676
Underwriter ............... D.A. Davidson & Co.
Contacts: Ms. Bridget Ekstrom
(406) 556-6965
Ms. Jean Stimac
(406) 791-7293
Bond Counsel ............................................................... Kennedy & Graven
Contacts: Mr. Ben Johnson
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PRE -CLOSING.
Ms. Sophia Estrellado
(612) 337-9259
SI*gning of all closing documents will take place -prior to closing.
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CLOSING INSTRUCTIONS.
Upon verification of the execution of applicable closing documents by Kennedy & Graven, D.A.
Davidson & Co. Will wire the closing amount pursuant to the Wire instructions shown below as
early as possible on the morning of Thursday, June 29. The wire transfer must be completed as
expeditiously aspossible to meet the required closing time of 11: 00 A. M. (M. T.) as required by the
Depository Trust Company ("DTC
2. The City should notify D.A. Davidson & Co. as soon as the City has received the wire transfer,
which should be no later than 10:00 A.M. (M.T.).
3. Upon verification of receipt of the wire transfer, U.S. Bank National Association (as Paying
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Agent/Registrar) and D.A. Davidson & Co. (Jean Stimac) will contact DTC to instruct them to
release Bonds.
WIRE TRANSFER:
The following transfer will, be required to effect closing of this transaction on Thursday, June 29:
PARTIES: From D.A. Davidson& Co. to the City of Kalispell
AMOUNT ............. $4,347,136.54 (Representing net payment for the
Bonds as shown below.)
WIRE TRANSFER INSTRUCTIONS: ...........
Calculated as follows:
Par Amount of Bonds:
$4�520�000.00
L ess: Good Faith Deposit
(90�400.00)_
Less: Undervvriter's Discount
(90�400.00)
Plus: Accrued Interest
7,936.54
Net Amount Due
$.42347:136.54
Glacier Bank
202 Main Street, Kalispell, MT 59.903
ABA No.: 292-970-825
Account.-, City of Kalispell
AccountNo.: 01-01-63-583
Re: City of Kalispell SID No. 344 Bonds
Bank Phone: Doreen - (406) 756-4200
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DEPOSIT OF BOND PROCEEDS: Upon receipt of the wire transfer in the amount of $4,347,136.54, the City
will deposit the proceeds into the funds and accounts outlined below as further described 'in the Bond Resolution.
The good faith deposit in the amount of $90,400.00, which was received at the time of sale, has already been
deposited into the Construction Account and the Underwriter's Discount ($90,400.00) will be netted out of the
wire transfer,
Deposit of Bond Proceeds at Closing:
Deposit to Construction Account
Deposit to Construction Account for Costs of Issuance and Misc.
Total Deposit to Construction Account
Deposit to the City's Revolving Fund
Deposit to the District Reserve Account
Deposit to the General Fund - City Administration Fee
Deposit to Debt Service Account (Accrued Interest)*
Total Deposit of Proceeds at Closing
Total Proceeds of the Bonds:
Plus: Good Faith Amount (deposited to Construction Account)
Plus: Underwriter's Discount (Paid with the Wire Transfer)
Total Proceeds of the Bonds (including Accrued Interest)
SID 334
$3178100.00
65s.600.00
IL841200-00
226�000.00
2265000.00
405000.00
7,936.54
$4,34U3-6.54
$90A0.00
.90.,400.00
$4,527*936.54
Accrued interest represents interest on the Bonds from the dated date of June 15 through the closing date of June
29.
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