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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notice of such meeting given as required by law; and that the Resolution has not as of the date hereof been amended or repealed.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. L Theresa White City Clerk 1 1 M 2369 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Kalispell, Montana (the "City") for over seventy years, was renovated in 1984, but has recently shown signs of age and is obsolete as a true aquatic center for residents of the City; and WHEREAS, the City Council (the "Council") of the City, after examining the options of again renovating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 2370 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 ■ 2371 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 r,f %%r%nAc 1n =n m=vim — — „-.-.1 ,., _-F 2372 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 1 1 E 2373 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 E 2374 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. 1 1 a