Resolution 4883A - Rejecting Bids for Sewerage System Revenue BondsRESOLUTION NO.4883-A
RESOLUTION REJECTING BIDS FOR $1,675,000 SEWERAGE SYSTEM REVENUE
BONDS, SERIES 2004.
WHEREAS, the City of Kalispell, Montana (the "City"), opened and tabulated on the
date hereof bids for the purchase and sale of Sewerage System Revenue Bonds, Series 2004 (the
"Bonds");
WHEREAS, the bids were submitted pursuant to the terms and conditions of a resolution
calling for the sale of the Bonds (the "Terms and Conditions");
WHEREAS, two bids for the purchase of such bonds were received, one from D.A.
Davidson & Co. and one from Piper Jaffray Inc.;
WHEREAS, the lowest true interest cost of the bids was 4.5023%;
WHEREAS, in the Terms and Conditions the City Council (the "Council") of the City
reserved the right to reject any and all bids.
NOW THEREFORE, this Council detennines that it is in the best interests of the City to
reject all bids for the Bonds received by the City on this date.
PASSED by the City Council of the City of Kalispell, Montana, on this 3rd day of May, 2004.
ATTEST:
Theresa White
City Clerk
Pamela B.
Mayor