Resolution 4621 - Awarding Sale of SID 343 Bonds2307
CERTIFICATE AS TO RESOLUTION AND ADOPTING VOTE
I, the undersigned, being the duly qualified and acting recording officer of the City of
Kalispell, Montana (the "City"), hereby certify that the attached resolution is a true copy of a
Resolution entitled: "RESOLUTION RELATING TO $1,581,500 SPECIAL IMPROVEMENT
DISTRICT NO, III BONDS; AWARDING THE SALE THEREOF AND APPROVING
CERTAIN MATTERS WITH RESPECT 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 of the City at a regular meeting on May 23, 2001, 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amended or repealed.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. Jim Atkinson Don Counsell Rand
Kenyon, Fred Leistiko, Doug Scarff, Ron Van Natta and Council President M. Duane Larson ;
voted against the same: -0- ; abstained from voting thereon: -0- ; or were absent: Mayor
William E. Boharski and Dale Haarr .
WITNESS my hand and seal officially this 23rd day of May, 2001.
CC,�POTe
sEj + L
City Clerk
a
2308
RESOLUTION NO. 4621
RESOLUTION RELATING TO $1,581,500 SPECIAL IMPROVEMENT DISTRICT NO. 343
BONDS; AWARDING THE SALE THEREOF AND APPROVING CERTAIN MATTERS
WITH RESPECT THERETO
BE IT RESOLVED by the City Council (the "Council") of the City of Kalispell,
Montana (the "City"), as follows:
1. This Council on May 7, 2001 adopted Resolution No. 4610 providing for
the public sale of $1,581,500 Special Improvement District No. 343 Bonds (the "Bonds") to
finance the costs of certain local improvements to be undertaken in or for the benefit of Special
Improvement District No. 343. Notice of the sale has been duly published in accordance with
Montana Code Annotated, Sections 7-12-4204, 7-7-4252 and 17-5-106. Pursuant to the notice of
sale, 2 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 , of Great Falls , MT (the
"Purchaser"), attached as Exhibit A, to purchase the Bonds of the City, is hereby determined to
comply with the notice of sale, and to be the lowest, most reasonable bid for the purchase of the
Bonds. The bid of the Purchaser is hereby accepted by the Council and the sale of the Bonds is
hereby awarded to the Purchaser. The bid security of the Purchaser shall be retained pending
delivery of the payment for the Bonds and the bid security of all other bidders shall be promptly
returned.
3. The Mayor, the City Manager and/or the City Clerk are hereby authorized
and directed to execute on behalf of the City a contract for the sale of the Bonds with the
Purchaser.
4. This Council shall prescribe the form and security for the Bonds in a
subsequent resolution.
PASSED AND APPROVED by the City Council of the City of Kalispell,
Montana, this 23rd day of May, 2001.
Council President
Attest:
City Clerk
EXHIBIT A
2309
1
OFFICIAL BID FORM
$1,581,500
City of Kalispell, Montana
Special Improvement District No. 343 Bonds, Series 2001
City Council Members
City of Kalispell
312 1" Avenue East
P.O. Box 1997
Kalispell, MT 59903
Pursuant to the provisions contained in the Official Notice of Sale dated May 7, 2001 (the "Notice of Sale")
for the purchase of $1,581,500 principal amount of the City of Kalispell, Montana, Special Improvement
District No. 343 Bonds, Series 2001 (the "Bonds"), we hereby offer to purchase all of the Bonds from you at
the price of $ 1, sq9 Sgo , which amount not less than 98% ($1,549,870) of par plus accrued interest
from June 1, 2001, if any, 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
to
2002
$76,500
31PO %
2012
$80,000
. °/o
2003
75,000
' , 7, %
2013
80,000
So %
2004
75,000
%
2014
80,000
.r+ %0 %
2005
75,000
%
2015
80,000
5..,W %
2006
80,000
%
2016
80,000
.34
2007
80,000�
3 %
2017
80,000
C
✓. iO %
2008
80,000
5� %
2018
80,000
5- %
2009
80,000
�_%
2019
80,000
5, 550
2010
80,000
-70 %
2020
80,000
5, 5�) %
2011
80,000
1
7•go %
2021
80,000
5. 50 %
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' 613/cti %
Total interest from June 1, 2001 to maturity .......................... $ if&Z,9105, '2
Plus discount, if any.............................................................. $ A k 30, D�
Less premium, if any............................................................. $
Net Dollar Interest Cost ......................................................... $ 91f;
2310
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 $31,630 payable to the order of "City of Kalispell, Montana" to be held and 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 May 9, 2001
and Notice of Sale dated May 7, 2001, (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; and (iii) 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 23rd day of May, 2001,
BIDDER:,
BY: .f .,
As Representative(s) of the persons, firms and/or corporations named below:
SELLING GROUP/
SYNDICATE: 1.
2.
3. 4.
Accepted for and on behalf of the City of Kalispell, Flathead County, Montana as of May 23, 2001: -
BY: M 0ATTEST:
-Wilhaazn-Boharski•,-City-Mayor- - Amy Ro ertsan, City Finance Director
M. Duane Larson
1
M