Resolution 4222 - Intent to Create SID 342 - Corporate Way1112
RESOLUTION NO. 4222
RESOLUTION RELATING TO SPECIAL IMPROVEMENT DISTRICT NO. 342;
DECLARING IT TO BE THE INTENTION OF THE CITY COUNCIL TO CREATE THE
DISTRICT FOR THE PURPOSE OF UNDERTAKING CERTAIN LOCAL IMPROVEMENTS
AND FINANCING THE COSTS THEREOF AND INCIDENTAL THERETO THROUGH THE
ISSUANCE OF SPECIAL IMPROVEMENT DISTRICT BONDS SECURED BY THE
CITY'S SPECIAL IMPROVEMENT DISTRICT REVOLVING FUND.
BE IT RESOLVED by the City Council of the City of Kalispell (the
"City"), Montana, as follows:
SECTIQN--X. PROPOSED IMPROVEMENTS: INTENTION TO CREATE
DISTRICT
The City proposes to undertake certain local improvements
(the "Improvements") to benefit certain property located
in the City. The Improvements consist of installation of
storm sewer system, water mains, street lights, curb and
gutter and paved road, as more particularly described in
Section V. The total estimated construction costs of the
improvements are $209.000.00 The cost of the
Improvements are to be paid from the following sources:
(1) Special Improvement District bonds hereinafter
described. It is the intention of this Council to create
and establish in the City under the Title 7, Chapter 12,
Parts 41 and 42, Montana Code Annotated, as amended, a
special improvement district (the "District") for the
purpose of financing a portion of the costs of the
Improvements and paying costs incidental thereto,
including the costs associated with the sale. and the
security of special improvement district bonds drawn on
the District (the "Bond"), the creation and
administration of the District, the funding of a deposit
to the City's Special Improvement District Revolving Fund
(the "Revolving Fund") and the establishment of a reserve
account securing the Bonds in the District fund (the
"Reserve Account"). The total estimated costs of the
Improvements, including such incidental costs to be
financed by the Bonds are $209,000.00. The Bonds are to
be payable primarily from special assessments to be
levied against property in the District, which property
will be specially benefitted by the Improvements in an
amount not less than $209.000.00.
SECTIQN II. NUMBER OF DISTRICT
The District, if4p the sam
established, shall be known
Improvement District No. 342
Montana.
RESOLUTION OF INTENTION
SID #342 1 2
e shall be created and
and designated as Special
of the City of Kalispell,
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SECTI-ON_,II1. BOUNDARIES, OF „DISTRICT
The limits and boundaries of the District are depicted on
a map attached as Exhibit "A", attached hereto and
thereby made a part hereof, which boundaries are
designated and confirmed as the boundaries of the
District. A listing of each of the properties of the
District is shown on Exhibit °B", attached hereto, which
is hereby incorporated herein and made a part hereof.
SECTION IV. BENEFITTED PROPERTY
The District and territory included within the limits and
boundaries described in Section III and as shown on
Exhibits A and B are hereby declared to be the special
improvement district and the territory which will benefit
and be benefitted by the Improvements and will be
assessed for a portion of the costs of the Improvements
as described in Section I. It is the intention of the
Council to charge the expenses of the work improvements
to lots not fronting on the Improvements, as well as lots
abutting the Improvements, because the lots not fronting
on the Improvement are benefitted by the Improvements and
the installation of the Improvements are more than local
and ordinary benefit. The property included within said
limits and boundaries is hereby declared to be the
property benefitted by the Improvement.
SECTION V. GENERAL CHARACTER OF THE IMPROVEMENTS
The general character of the Improvements is to build a
storm sewer system, water mains, street lights, curb and
gutter and paved road, on Corporate Drive.
SECTION..VI. ENGINEER AND ESTIMATED COST
Carver Engineering shall be the engineer for the
District. The Engineer has estimated the costs of the
Improvements, including incidental costs to be
9180.000.00 .
TION VII. ASSESSMENT METHOD
All properties in the District are to be assessed for a
portion of the costs of the Improvements, as- specified
herein. The costs of the Improvements shall be assessed
against the property in the District benefitting from the
Improvements, based on the following:
A) The District's cost of constructing and
installing the storm sewer system, water mains,
RESOLUTION OF INTENTION
SID #342 3
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street lights, curb and gutter and paved road, on
Corporate Drive shall be assessed by determining
the lots fronting upon the Improvements and
assessing each lot as its frontage bears to its
proportion of the whole cost of the Improvements.
B) The total lineal footage of the lots, tracts
or parcels bordering or abutting such Improvement
and to be so assessed is 2,421.50 feet. The
assessment for each lot, tract or parcel of land
for the Improvements is shown on Exhibit "B",
attached hereto.
SECTION VIII. ASSESSMENT METHODOLOGIES EQUITABLE AND
CONSISTENT I BENEFIT
This Council hereby determines that the method of
assessment and the assessment of the costs of the
specific Improvements against the properties benefitted
thereby as prescribed in Section VII are equitable and in
proportion to and not exceeding the special benefits
derived from the respective Improvements by the lots,
tracts and parcels to be assessed therefore in the
District.
SECTION I- PAYMENT QF ASSESSMENTS
The special assessment for the costs of the Improvements
shall be payable over a term not exceeding 10 years,
each in equal semiannual installments of principal, plus
interest, or equal semiannual payments of principal and
interest, as this Council shall prescribe in. the
resolution authorizing the issuance of the Bonds.
Property owners have the right to prepay assessment as
provided by law.
E TI N K. METHODS OF FINANCING: PLEDGE OF REVOLVING
FUN D• FINDI A DETERMINATIONS
The City will issue the Bonds in an aggregate principal
amount not to exceed $209,000.00 in order to finance the
costs of the Improvements. Principal of and interest on
the Bonds will be paid from special assessments levied
against the property in the District and such payments
will be secured by the Reserve Account. This Council
further finds it is in the public interest, and in the
best interest of the City and the District, to secure
payment of principal of and interest on the bonds by the
Revolving Fund and hereby authorizes the City to enter
into the undertaking and agreements authorized in 5 7-12-
4225, MCA with respect to the Bonds.
RESOLUTION OF IN`d'ENTION
SID #342 4
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In determining to authorize such undertakings and
agreements, this Council has taken into consideration the
following factors;
A} Estimated Market Value of Parcels. T h e
estimated market value of the lots, parcels or
tracts in the District as of the date of
adoption of this resolution, as estimated by
the Flathead County Assessor for property tax
.purposes, is set forth in Exhibit "B". The
property within the proposed District is zone
General Business, B-2 West of Corporate Drive
and Community Business, B-3 East of Corporate
Drive, allowing a variety of business
operations, including out -door displays and
storage of merchandise in the B-2. The City
of Kalispell, Public Works Department
estimates that every lot, parcel or tract of
land within the proposed District would
increase in value significantly after the
Improvements have been completed. The special
assessments to be levied under Section VII
against each lot, parcel or tract in the
District is less than the increase in
estimated market value of the lot, parcel or
tract as a result of the construction of the
Improvements.
B) Diversity of Property Qwne shi . The 7 lots,
parcels or tracts of land within the District
have 4 different owners. The developed lots
are primarily developed as multi -purpose
business operations and 4 lots are undeveloped
and vacant.
C} Comparison at ecial Assessments and Pggperty
Taxes and Market Value. The proposed
Improvements and incidental expenses will
require $209,000.00. There are no outstanding
special assessments or industrial development
revenue bonds on property within the District.
According to the Flathead County Treasurer's
office there are no unpaid or delinquent taxes
on any of the property subject to the Special
Improvement District. As shown in Exhibit "B"
the market value of the property is
$2,267,596. Current delinquencies are 0%
of the market value. The District if created
will be 9% of the market value of the
property.
RESOLUTION OF INTENTION
SID #342 5
1116
D) Delinquencies
Delinquencies on the property are 0% of
the market value of the property in the
proposed District. Currently, the City's
General Fund Levy shows a delinquency rate of
2%. The City has currently total outstanding
SID and Sidewalk and Curb bonds in the amount
of $ 144.232. Total delinquencies on the
bonds equals $2,859 or about 2%. The City has
currently $32,962.00 in the SID Revolving Fund
or about-22% of the outstanding debt owed from
SID's and Sidewalk and Curb bonds.
E) The Public Benefit of the Improvements
The property included within the District
comprises a significant area within the City
limits of Kalispell not served by City water.
The area cannot be developed for any purpose
without the installation of a water system,
streets, curb and gutter street lights. All
property within the District is either within
the boundaries of the City or will be in the
City prior to assessment for the Improvements.
,SECTION PUBLIC HEARIN • PR E T
At any time within fifteen (15) days from and after the
date of the first publication of the notice of the
passage and approval of this resolution, any owner of
real property within the District subject to assessment
and taxation for the cost and expenses of making the
Improvements may make and file with the City Clerk of
Council until 5:00 P.M., M.D.T., on the expiration date
of said 15-day period (_August 18. 1995)written protest
against the proposed Improvements, or against the
extension or creation of the District or both, and this
Council will at its next regular meeting after the
expiration of the fifteen (15) days in which such
protests in writing can be made and filed, proceed to
hear all such protests so made and filed; which said
regular meeting will be held on August 21. 1995 at 7:00
P.M. M.D.T. in the City Hall, 312 lst Avenue East,
Kalispell, Montana.
,SECTION XI.
NOTICE
F
PASSAGE
OF RESOLUTION
OF INTENTION
The City
Clerk
of
Council
is
hereby
authorized
and
RESOLUTION OF INTENTION
SID #342 6
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directed to publish or cause to be published a copy of a
notice of the passage of this resolution in the Daily
Inter Lake, a newspaper of general circulation in the
County on August 2. 1995 and August 9. 1995, in the
form and manner prescribed by law, and to mail or cause
to be mailed a copy of said notice to every person, firm,
corporation, or the agent or such person, firm, or
corporation having real property within the District
listed in his or her name upon the last completed
assessment roll for state, county, and school district
taxes, at his last -known address, on or before the same
day such notice is first published.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF
KALISPELL, MONTANA THIS 24 DAY OF JULY, 1995.
Attest:
City Clerk f ncil
RESOLUTION OF INTENTION
SID 0342 7
Dougl s D. Rauthe - Mayor
1118
EXHIBIT "A"
PARCEL I.
TRACT 7AD:
A tract of land located in the Southwest Quarter of the Southeast
Quarter of Section 12, Township 28 North, Range 22 West, Principal
Meridian, Montana, Flathead County, Montana, and more particularly
described as follows:
Commencing at a found brass cap monument which indicates the
South quarter corner of said Section 12; thence N00047'58"E,
on and along the West boundary of said Southwest quarter of
the Southeast quarter, a distance of 1042.69 feet to the true
point of beginning;
Thence continuing N0004715811E, on and along said West boundary
of the Southwest quarter of the Southeast Quarter, a distance
of 278.29 feet to a point which point is the center South one -
sixteenth corner of said Section 12;
Thence N89`38'25"E, on and along the North boundary of said
Southwest quarter of the Southeast quarter a distance of
313.06 feet to a found 3/4" iron pipe which point is the
Northwest corner of "street", Gibson Addition No. 41, records
of Flathead County;
Thence S00°47'58"W, on and along the West boundary of said
"street", Gibson Addition No. 41, a distance of 278.29 feet to
a point;
Thence 989'38'25"W, a distance of 313.06 feet to the true
point of beginning.
PARCEL 2.
TRACT 7A:
A tract of land located in the Southwest quarter of the Southeast
quarter of Section 12, Township 28 North, Range 22 West, Principal
Meridian, Montana, Flathead County, Montana, and more particularly
described as follows:
Commencing at a found brass cap monument which indicates the
South quarter corner of said Section 12; thence N00047'58"E,
on and along the West boundary of said Southwest quarter of
the Southeast quarter, a distance of 47.19 feet to the true
point of beginning;
Thence continuing N00°47'58"E, on and along said West boundary
of the Southwest quarter of the Southeast quarter, a distance
of 995.50 feet to a point;
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Thence N89' 38' 25"E, a distance of 313.06 feet to a point which
lies on the West boundary of "street", Gibson Addition No. 41,
records of Flathead County;
Thence S00047'58"W, on and along said West boundary of
"street", Gibson Addition No. 41, a distance of 932.97 feet to
a point which lies on the Northerly right-of-way of Highway
No. 2;
Thence Southwesterly on and along said Northerly right-of-way,
on a curve to the right (Delta = 1695811211, Radius = 1086.00
feet, Radival bearing = N2000537"W), a distance of 321.65
feet to the true point of beginning.
PARCEL 3.
Gibson Addition Tract 1
Records of Flathead County, Montana
PARCEL 4.
Gibson Addition Resubdivision L 1 & 3 Lot 1
Records of Flathead County, Montana
PARCEL 5.
Gibson Addition Resubdivision L 1 & 3 Lot 2
Records of Flathead County, Montana
PARCEL 6.
Gibson Addition Resubdivision L 1 & 3 Lot 9
Records of Flathead County, Montana
PARCEL 7.
Gibson Addition Resubdivision L 1 & 3 Lot 10
Records of Flathead County, Montana
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