Resolution 4684 - Awarding Sale of GO Bonds - Aquatic FacilityCERTIFICATE AS TO RESOLUTION
I, the undersigned, being the duly qualified and acting recording officer of City of
Kalispell, Montana (the "City"), hereby certify that the attached resolution is a true copy of a
Resolution entitled: "RESOLUTION RELATING TO $3,675,000 GENERAL OBLIGATION
BONDS, SERIES 2002; AWARDING THE SALE THEREOF AND APPROVING THE
OFFICIAL STATEMENT RELATING THERETO" (the "Resolution"), on file in the original
records of the City in my legal custody; that the Resolution was duly adopted by the City
Council at a special meeting on March 18, 2002, and that the meeting was duly held by the City
Council and was attended throughout by a quorum, pursuant to call and notice of such meeting
given as required by law; and that the Resolution has not as of the date hereof been amended or
repealed.
I further certify that, upon vote being taken on the Resolution at said meeting, the
following Council Members voted in favor thereof Don Counsell Bob Hafferman Rand
Kenyon, Duane Larson, Fred Leistiko, Hank Olson, Jayson Peters and Mayor Pamela B,.
Kennedy ; voted against the same: -0- ; abstained from voting thereon: -0- ; or were absent:
Jim Atkinson.
WITNESS my hand and seal officially this 19th day of March, 2002.
_' its. �•'•`�'.�
Cf
ft.r7:dFi1a��
City Clerk
RESOLUTION NO. 4684
RESOLUTION RELATING TO $3,675,000 GENERAL
OBLIGATION BONDS, SERIES 2002; AWARDING THE SALE
THEREOF AND APPROVING THE OFFICIAL STATEMENT
RELATING THERETO
BE IT RESOLVED by the City Council (the "Council") of the City of Kalispell,
Montana (the "City"), as follows:
1. This Council on March 4, 2002, adopted a resolution providing for the public sale
of $3,675,000 General Obligation Bonds, Series 2002 (the "Bonds") to finance the costs of a
Project described therein. Notice of the sale has been duly published in accordance with
Montana Code Annotated, Sections 7-7-4252 and 17-5-106. Pursuant to the notice of sale, seven
JD sealed bids for the purchase of the Bonds were received at or before the time specified for
receipt of bids. The bids have been opened and publicly read and considered, and the purchase
price, interest rates and net interest cost under the terms of each bid have been determined.
2. The bid of D.A. Davidson & Co., of _Great Falls, Montana, (the "Purchaser"),
attached as Exhibit A, to purchase the Bonds is hereby determined to comply with the notice of
sale and to be the most favorable bid received for the purchase of the Bonds. The bid of the
Purchaser is hereby accepted and the sale of the Bonds is hereby awarded to the Purchaser. The
bid security of the Purchaser shall be retained pending payment for the Bonds and the bid
security of all other bidders shall be returned forthwith.
3. The Mayor and the Finance Director are hereby authorized and directed to
execute on behalf of the City a contract for the sale of the Bonds with the Purchaser.
4. The Preliminary Official Statement relating to the Bonds, dated March 5, 2002, is
hereby approved. The officers of the City are hereby authorized and directed to execute such
certificates as may be appropriate concerning the accuracy, completeness and sufficiency of the
Official Statement and to deliver to the Purchaser within seven business days after the date of
adoption of this resolution copies of the Official Statement in accordance with the Notice of Sale,
supplemented so as to contain the terms of the Bonds as set forth in this resolution and the
reoffering and other information provided by the Purchaser for inclusion in the Official
Statement.
5. This Council shall prescribe the form and security for the Bonds in a subsequent
resolution.
PASSED by the City Council of Kalispel , Mont a, this 18th day of IyMWh, 2002.
Attest:
Clerk
EXHIBIT A
OFFIC AL BID FORM
$$3,675,000
City of Kalispell, Montana
General Obligation Bonds,
Series 2002
City Council
City of Kalispell
312 1st Avenue East
Kalispell, Montana 59903
Pursuant to the provisions contained in the Official Notice of Sale dated March 4, 2002 (the "Notice of
Sale") for the purchase of $3,675,000 principal amount of your City of Kalispell, Montana, General
Obligation Bonds, Series 2002 (the "Bonds"), we hereby offer to purchase all of the Bonds from you at
the price of par plus acc ed interest from April 15, 2002 to the date of delivery of the Bonds to us, plus
a premium of $ the Bonds to bear interest at the rates set forth opposite the years and
amounts as follows:
Principal
Interest
Principal
Interest
Year
Amount
Rate
Year
Amount
Rate
2003
$80,000
�
2013
$185,000
1D%
2004
120,000
�I1 Y • %
2014
190,000
q. yy %
2005
130,000
441I %
2015
200,000
g-50 %
2006
135,000
� - %
2016
210,000
9.44 %
2007
140,000
4 yo %
2017
220,000
2008
145,000_O
0/.
2018
230,000
_%
%
2009
155,000
q- o %
2019
240,000•
2010
160,0001
%
2020
250,000
%
2011
170,000
%
2021
265,000
q0 %
2012
175,000
%
2022
275,000
a,95/0
Municipal Bond Insurance yes (no)
(Yf J I k Isle
The following is submitted not as part of this bid,
but for informational purposes,
and is subject to
verification prior to award:
"TIC" "True Interest Cost" �- (P cp l a—
Total interest from April 15, 2002 to maturity ................ $ a i l i to 1 4 a0 A 3
Less premium, if any ....................................................... $ —0
Net Dollar Interest Cost ................................................... $ aj O �i q,44 J
Enclosed herewith is a good faith deposit in the form of lawful money of the United States, cashier's
check, certified check, bank money order or a bank draft drawn and issued by a federally chartered or
state chartered bank insured by the Federal Deposit Insurance Corporation or a financial surety bond in
the amount of $73,500 payable to the order of the "City of Kalispell, Montana.' to be heldand disposed
of by you as provided in the Notice of Sale. This bid must be accepted in its entirety within the time
provided in the Notice of Sale and if not so accepted by you within such time shall be deemed to have
been rejected. This bid shall remain irrevocable until the expiration of such time unless sooner rejected
by you.
Each of the Bidders: (i) acknowledges receipt of the Preliminary Official Statement dated March 5,
2002, and Notice of Sale dated March 4, 2002, (ii) represents and warrants that it has full power and
authority to make this bid and to purchase the Bonds if this bid is accepted; (iii) acknowledges that if the
issue qualifies for municipal bond insurance, that the winning bidder will have the option to insure the
Bonds and will be responsible for the insurance policy premium in addition to applicable rating agency
-fees; and (iv) agrees-.that.the_validity_and interpretation of this bid --shall be governed -by -the -laws -of the
State of Montana. In the event the Bidders are acting through a Representative or Representatives, each
of the undersigned Representatives warrants that it has the necessary power and authority to act on
behalf of each of the Bidders.
Respectfully submitted this 18th day of March, 2002,
BIDDER: JO a - 4 &
BY: 7nn.aL),��
As Representative(s) of the persons, firms and/or corporations named below:
SELLING GROUP/
SYNDICATE: 1.
3.
2.
4.
Accepted for and on behalf of the City of Kalispell, Montana as of March 18, 2002.
B ATTEST: L
Pamela B. K edy, Mayor Theresa White, City Clerk