Resolution 4647 - Submitting Pool-Aquatic Facility Question to VotersCERTIFICATE AS TO RESOLUTION AND ADOPTING VOTE
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: "A RESOLUTION OF THE CITY COUNCIL SUBMITTING TO THE
QUALIFIED AND REGISTERED ELECTORS OF THE CITY OF KALISPELL,
MONTANA, THE QUESTION OF ISSUING GENERAL OBLIGATION BONDS IN AN
AMOUNT OF THREE MILLION SIX HUNDRED AND SEVENTY-FIVE THOUSAND AND
N01100 DOLLARS ($3,675,000.00) FOR THE PURPOSE OF DESIGNING,
CONSTRUCTING AND EQUIPPING AN AQUATIC RECREATIONAL FACILITY AND
SKATE PARK IN WOODLAND PARK, AND PAYING COSTS ASSOCIATED WITH THE
SALE AND ISSUANCE OF THE BONDS " ( 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 regular
meeting on the 20th of August, 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amended or repealed.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, Randy Kenyon, Duane
Larson, Fred Leistiko, Ron Van Natta and Mayor William E. Boharski:
voted against the same: None ; abstained from voting thereon: None;
or were absent: Dale Haarr and Doug Scarff .
2001.
WITNESS my hand and seal officially this 21st day of August,
Cold - pc.
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Theresa White
City Clerk
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RESOLUTION NO. -4647
A RESOLUTION OF THE CITY COUNCIL SUBMITTING TO THE QUALIFIED AND
REGISTERED ELECTORS OF THE CITY OF KALISPELL, MONTANA, THE QUESTION
OF ISSUING GENERAL OBLIGATION BONDS IN AN AMOUNT OF THREE MILLION
SIX HUNDRED AND SEVENTY FIVE THOUSAND AND N0/100 DOLLARS
($3,675,000) FOR THE PURPOSE OF DESIGNING, CONSTRUCTING AND
EQUIPPING AN AQUATIC RECREATIONAL FACILITY AND SKATE PARK IN
WOODLAND PARK, AND PAYING COSTS ASSOCIATED WITH THE SALE AND
ISSUANCE OF THE BONDS RECITALS.
WHEREAS, Bruckhauser Pool, which has served the residents of the
City of Kalispell, Montana (the "City") for over seventy
years, was renovated in 1984, but has recently shown
signs of age and is obsolete as a true aquatic center for
residents of the City; and
WHEREAS, the City Council (the "Council") of the City, after
examining the options of again renovating Bruckhauser
Pool or building a new aquatic center, determined that
the residents of the City would be best served by a new
facility to be located within Woodland Park; and
WHEREAS, the City has engaged the firms of Architects Design
Group, Interstate Engineering, Carver Engineering and
Sitescape Associates (the "Firms") to provide a schematic
design and construction estimates for said proposed
aquatic center and skate park; and
WHEREAS, the Firms have completed the schematic design and
construction estimates and presented the Council with a
report detailing all items; and
WHEREAS, the public has had an opportunity to examine the plans
and cost estimates and comment on the report; and
WHEREAS, the Council intends to proceed with the proposed aquatic
center and skate park project and fund said project
through the issuance.of general obligation bonds; and
WHEREAS, a city or town is authorized pursuant to Section 7-7-
4221, M.C.A., to issue general obligation bonds pledging
the general credit of the City for that purpose upon
approval of the electorate of the city or town, provided
that such indebtedness will not cause the total
indebtedness of the city to exceed 1.51% of the total
assessed valuation of taxable property of the city,
determined as provided in Section 15-8-111, M.C.A.,
ascertained by the last assessment for state and county
taxes; and
WHEREAS, a city or town is authorized pursuant to Section 7-16-
4104, M.C.A., to incur indebtedness upon the credit of
■ the city or town for the purpose of procuring by
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WHEREAS, the Council has determined that the issuance of general
obligation bonds in the amount of $3,675,000.00 will not
cause the City to exceed its general statutory
indebtedness limitation, which as currently calculated is
$9,401,423.00; and
WHEREAS, the Council has determined that the issuance of general
obligation bonds in the amount of $3,675,000.00 will not
cause the City to exceed its indebtedness for the
recreational facilities, which as currently calculated is
$5,603,497.00; and
WHEREAS, the Council has determined there should be submitted to
the electors of the City qualified to vote at bond
elections the question of whether or not the Council
shall be authorized to issue and sell general obligation
bonds of the City in order to obtain funds for the
purpose of designing, constructing and equipping an
aquatic recreational facility and skate park in Woodland
Park, and paying costs associated with the sale and
issuance of the bonds; and
WHEREAS, it is the judgment of the Council that the sum of Three
Million Six Hundred Seventy -Five Thousand and No/100
Dollars ($3,675,000.00) will be necessary to carry out
the purposes set forth above; and
WHEREAS, it is the judgment and determination of the Council that
such bonds will be payable during a term not to exceed
twenty (20) years and shall be redeemable on any interest
payment date after one-half of the term for which they
are issued.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF KALISPELL AS FOLLOWS:
Section 1. Calling of the Election. The Council of the City
hereby calls and directs that there be submitted to the electors of
the City at the general city election to be held on November 6,
2001, the following question:
Shall the Council be authorized to issue and sell general
obligation bonds of the City in the amount of Three
Million Six Hundred Seventy -Five Thousand and No/100
Dollars ($3,675,000.00), bearing interest at a rate to be
determined by the Council, payable semiannually during a
term of not to exceed twenty ( 20 ) years and redeemable on
any interest payment date after one-half of their term
for the purpose of designing, constructing and equipping
an aquatic recreational facility and skate park in
Woodland Park, and paying costs associated with the sale
and issuance of the bonds?
Section 2. Conduct of Election. All qualified electors of ■
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circulation in Flathead County. The notice of election as published
shall read substantially as shown on Exhibit "A".
Section 4. Ballots. The Election Administrator is hereby
requested to prepare suitable ballots for use at the election at
the polling places, together with the precinct lists.
Section 5. Form of Ballot. The ballot shall be printed in
substantially the form as shown on Exhibit "B".
Section 6. Notice to County Election Administrator. That a
copy of this resolution will be provided to the Flathead County
Election Administrator as soon as possible after its adoption and
approval in order to inform her of the details of the election
and the pertinent requests and authorizations as to the conduct
of the election.
Section 7. Reimbursement Expenditures.
(a) The United States Department of Treasury has
promulgated final regulations governing the use of proceeds of
tax-exempt bonds, all or a portion of which are to be used to
reimburse the City for project expenditures paid by the City
prior to the date of issuance of such bonds. Those regulations
(Treasury Regulations, Section 1.150-2) (the "Regulations")
require that the City adopt a statement of official intent to
reimburse an original expenditure not later than 60 days after
payment of the original expenditure. The Regulations also
generally require that the bonds be issued and the
reimbursement allocation made from the proceeds of the bonds
within 18 months (or three years, if the reimbursement bond
issue qualifies for the "small issuer" exception from the
arbitrage rebate requirement) after the later of (i) the date
the expenditure is paid or (ii) the date the project is placed
in service or abandoned, but (unless the issue qualifies for
the "small issuer" exception from the arbitrage rebate
requirement) in no event more than three years after the date
the expenditure is paid. The Regulations generally permit
reimbursement of capital expenditures and costs of issuance of
the bonds.
(b) Other than (i) expenditures to be paid or reimbursed
from sources other than the bonds, (ii) expenditures permitted
to be reimbursed under the transitional provision contained in
Section 1.150-2(j)(2) of the Regulations, (iii) expenditures
constituting preliminary expenditures within the meaning of
Section 1.150-2(f)(2) of the Regulations, or (iv) expenditures
in a "de minimus" amount (as defined in Section 1.150-2(f)(1)
of the Regulations), no expenditures for the project have been
paid by the City before the date 60 days before the date of
adoption of this resolution.
(c) The City reasonably expects to reimburse the
■ expenditures made for costs of the project out of the proceeds
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intent contained in this resolution, therefore, is determined
to be consistent with the City's budgetary and financial
circumstances as they exist or are reasonably foreseeable on
the date hereof.
(e) The City's financial officer shall be responsible for
making the "reimbursement allocations" described in the
Regulations, being generally the transfer of the appropriate
amount of proceeds of the bonds to reimburse the source of
temporary financing used by the City to make prior payment of
the costs of the project. Each allocation shall be evidenced
by an entry on the official books and records of the City
maintained for the bonds or the project and shall specifically
identify the actual original expenditure being reimbursed.
PASSED AND APPROVED BY THE CITY COUNCIL AND SIGNED BY THE MAYOR
THIS 20TH DAY OF AUGUST, 2001.
ATTEST:
Theresa White
City Clerk
WM.F-.Bnhnrski .
Wm E. Boharski
Mayor
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EXHIBIT "AN
NOTICE OF GENERAL OBLIGATION BOND ELECTION
Catty of Kalispell, Montana
November 6, 2001
NOTICE IS HEREBY GIVEN by the City Council (the "Council") of
the City of Kalispell, Montana (the "City"), that pursuant to a
certain resolution duly adopted at a regular meeting of the Council
on the 20th day of August, 2001, the following question will be
presented to the registered voters of the City at the November 6,
2001 election:
Shall the Council be authorized to issue and sell general
obligation bonds of the City in the amount of Three
Million Six Hundred Seventy -Five Thousand and No/100
Dollars ($3, 675, 000.00) , bearing interest at a rate to be
determined by the Council, payable semiannually during a
term of not to exceed twenty ( 2 0 ) years and redeemable on
any interest payment date after one-half of their term
for the purpose of designing, constructing and equipping
an aquatic recreational facility and skate park in
Woodland Park, and paying costs associated with the sale
and issuance of the bonds?
The polls shall be open between the hours of 7:00 a.m. and
8:00 p.m., and the polling places for the election shall be the
normal polling places for City residents during a general election.
Absentee ballots may be obtained at the office of the Flathead
County Election Administrator at the Flathead County Courthouse,
800 South Main Street, Kalispell, Montana until 12:00 Noon,
November 5, 2001.
DATED this day of , 2001.
Publish:
2001
2001
, 2001
City Clerk
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EXHIBIT "B"
OFFICIAL BALLOT
CITY OF KALISPELL BOND ELECTION
INSTRUCTIONS TO VOTER: Make an X or similar mark in the vacant square before the
words "BONDS - YES" if you wish to vote for the bond issue. If you are opposed to the bond issue
make an X or other similar mark in the square before the word "BONDS - NO".
Shall the City Council of the City of Kalispell be authorized to issue and sell General
Obligation Bonds, pledging the general credit of the City of Kalispell, in an amount not to exceed
payable over a period of not to exceed twenty (20) years, for the purpose of
constructing an aquatic recreational facility and skate park in Woodland Park, City of Kalispell?
BONDS -YES- for authorizing the issuance of .General Obligation
Bonds for the construction of an aquatic recreational
facility and skate park in Woodland Park, City of
Kalispell.
BONDS - NO- against authorizing the issuance of General Obligation
Bonds for the construction of an aquatic recreational
facility and skate park in Woodland Park, City of
Kalispell.
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