Resolution 4918 - November Election - North Fire Sub-StationRESOLUTION NO.4918
A RESOLUTION OF THE CITY COUNCIL SUBMITTING TO THE QUALIFIED
ELECTORS OF THE CITY OF KALISPELL, MONTANA, THE QUESTION OF ISSUING
GENERAL OBLIGATION BONDS IN AN AMOUNT OF THREE MILLION AND NOI100
DOLLARS ($3,000,000.00) FOR THE PURPOSE OF DESIGNING, CONSTRUCTING AND
EQUIPPING A NORTH FIRE SUB -STATION NEAR THE INTERSECTION OF FOUR
MILE DRIVE AND HIGHWAY 93 NORTH, AND PAYING COSTS ASSOCIATED WITH
THE SALE AND ISSUANCE OF THE BONDS RECITALS.
WHEREAS, the Kalispell Fire Department provides the residents of the City of Kalispell,
Montana (the "City") with fire protection, emergency medical services and rescue and
hazardous materials response; and
WHEREAS, the City Council (the "Council") of the City, after examining the impacts of the rapid
growth of the City, has determined that the residents of the City would be best served
by a fire sub -station located near the intersection of Four Mile Drive and Highway 93
North; and
WHEREAS, the City has engaged the firms of Grover and Company, PLLC and Cole + Russell
Architects, Inc. (the "Firms") to provide a schematic design and construction
estimates for said proposed fire station; 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 will have an opportunity to examine the plans and cost estimates and
comment on the report prior to the election; and
WHEREAS, the Council intends to proceed with the proposed fire sub -station 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 Capon
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 council is authorized pursuant to Section 7-7-4223, M.C.A., to call a bond
election by adopting a resolution to that effect; and
WHEREAS, the Council has determined that the issuance of general obligation bonds in the
amount of $3,000,000.00 will not cause the City to exceed its general statutory
indebtedness limitation, which as currently calculated is $12,360,944.00; 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
ands for the purpose of designing, constructing and equipping a north fire sub-
station, 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 and No/100 Dollars
($3,000,000.00) 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 fifteen (15) 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 2, 2004,
the following question:
Shall the Council be authorized to issue and sell general obligation bonds of the City
in the amount of Three Million and No/100 Dollars (S3,000,000.00), bearing interest at a rate
to be determined by the Council, payable semiannually during a term of not to exceed fifteen
(15) years and redeemable on any interest payment date after one-half of their term for the
purpose of designing, constructing and equipping a North Fire Sub -Station, and paying costs
associated with the sale and issuance of the bonds?
Section 2. Conduct of Election. All qualified electors of the City shall be entitled to vote at
the bond election. The Flathead County Election Administrator is hereby requested to close
registration, give notice thereof and upon close of registration to prepare printed lists of the electors
in the City entitled to vote in the election in the City and to conduct the election in the form and
manner prescribed by law.
Section 3. Notice of Election. The County Election Administrator is hereby authorized and
requested to cause notice of the call and holding of the election to be given by publishing notice at
least once a week for the three consecutive weeks before the election in the Daily Inter Lake, a
newspaper of general 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 as shown on Exhibit
go
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 IS months (or three years, if the reimbursement bond issue
qualifies for the "small issuer" exception from the arbitrage rebate requirement) after the later
of (1) 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 pen -nit 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 pennitted to be reimbursed under the transitional provision contained
in Section 1.150-20)(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 inimus" 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 of bonds in an estimated maximum aggregate principal amount of
$3,000,000.00 after the date of payment of all or a portion of the costs of the project. All
reimbursed expenditures shall be capital expenditures, a cost of issuance of the bonds or
other expenditures eligible for reimbursement under Section 1.150-2(d)(3) of the
Regulations.
(d) As of the date hereof, there are no City funds reserved, allocated on a long-term
basis or otherwise set aside (or reasonably expected to be reserved, allocated on a long-term
basis or otherwise set aside) to provide permanent financing for the expenditures related to
the project, other than pursuant to the issuance of the bonds. The statement of 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 OF
THE CITY OF KALISPELL THIS 16TH DAY OF AUGU�04.
)
Pamela B. Ke dy
ATTEST: Mayor
Theresa White
City Clerk
EXHIBIT "A"
NOTICE OF GENERAL OBLIGATION BOND ELECTION
City of Kalispell, Montana
November 2, 2004
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 16th day of August, 2004, the following question will be presented to the registered
voters of the City at the November 2, 2004 election:
Shall the Council he authorized to issue and sell general obligation bonds of the City
in the amount of Three Million and No/100 Dollars ($3,000,000.00), bearing interest
at a rate to be determined by the Council, payable semiannually during a term of not
to exceed fifteen (15) years and redeemable on any interest payment date after one-
half of their term for the purpose of designing, constructing and equipping a North
Fire Sub -Station near the intersection of Pour Mile Drive and Highway 93 North, 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 1, 2004.
DATED this 16th day of August, 2004.
City Clerk
Publish: 12004
2004
2004
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
Three Million and No/100 Dollars ($3,000,000.00), payable over a period of not to exceed fifteen
(1 S) years, for the purpose of constructing a North Fire Sub -Station located near the intersection of
Four Mile Drive and Highway 93 North in the City of Kalispell`
BONDS -YES- for authorizing the issuance of General Obligation
Bonds for the construction of a North Fire Sub -Station
in the City of Kalispell.
BONDS - NO- against authorizing the issuance of General Obligation
Bonds for the construction of a North Fire Sub -Station
in the City of Kalispell.