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05/19/59 SP City Council Minutes1 1 MINUTES OF A SPECIAL MEETING OF THE MAYOR AND COUNCIL OF THE CITY OF KALISPELL, FLATHEAD COUNTY, MONTANA, HELD ON MAY 19, 1959, at 7:30 o'clock, P. M. The Mayor and Council of the City of Kalispell, Flathead County, Montana, met in special meeting at the regular meeting place in the City Hall in Kalispell, Montana, on Tuesday, May 19, 1959, at 7:30 P. M., Mountain Time, there being present upon roll call the following, constituting a quorum and a majority of the Council, viz: Howard V. Hammer Fred Metcalf B. E. Horstman George Haddow Walt Ryder Harry A. Fisher Harrison D. Huggins T. C. Harmon Richard Vick H. J. Hunt Absent: Harry A. Fisher Mayor Councilman for First Ward Councilman for First Ward Councilman for Second Ward Councilman for Second Ward Councilman for Third Ward Councilman for Third Ward Councilman for Fourth Ward Councilman for Fourth Ward City Clerk was also present The meeting having been called to order by the Mayor, the following Resolution, having been read in full by the Clerk at the direction of the Mayor, upon motion of Councilman B. E. Horstman, seconded by Councilman George Haddow was submitted to an AYE and NAY vote of the Council, which vote, being duly recorded by the Clerk resulted as follows: Councilman Metcalf voted "AYE" Councilman Horstman voted "AYE" Councilman Haddow voted "AYE" Councilman Ryder voted "AYE" Councilman Fisher Absent Councilman Huggins voted "AYE" Councilman Harmon voted "AYE" Councilman Vick voted "AYE" with no votes "NAY"; whereupon the Mayor declared said Resolution duly adopted and the Clerk was directed to cause the same to be made a part of the Permanent records of this Council. The Resolution thus adopted was, and is, as follows: RESOLUTION NO. 2384 (See Resolution Book) It was then anaounced by the Mayor that this meeting was held pursuant to Resol- ution of the Council heretofore adopted at a special meeting held on April 13, 1959, at 7:30 P. M., Mountain Time, at the regular meeting place of said Council for the reception of bids for the Water and Sewer Revenue Bonds of said City in the amount of $250,000.000 heretofore authorized at a special election held on April 6, 1959, and heretofore noticed for sale at this time. The Clerk announced that the following bids for said bonds had been received by him add filed in, the office of the City, and as required by statute the Clerk opened the bids in public and read all of said bids to the Mayor and Council present and unto the bidders and others present, which bids, as thus read by the Clerk were as follows: NAME AND ADDRESS OF BIDDER Paine -Rice & Company Spokane, Wash. Piper Jaffry & Hopwood Minneapolic, Minn. TERMS OF BID (Set forth details of bid accurately effective interest rate) Pay - 3.55% Int. Cost - $52,007,50 Pay - 3.607. Int. Cost - $52,740.00 Thereupon the Mayor and Council considered the foregoing bids and after consideration thereof the following Resolution was introduced by Councilman Tom Harmon, and at the direction of the Mayor was read in full by the Clerk, said Resolution being as follows: i, 2 RESOLUTION WHEREAS, it appears that the bid of Paine -Rice & Company, State of Wash. for said bonds is the best bid received, and it is to the best interests of said City that said bid be accepted and said bonds sold to said bidder named above under the terms of said bid; NOW, THEREFORE, IT IS HEREBY RESOLVED by the Mayor and Council of the City of Kalispell, Flathead County, Montana, as follows: 1. That the bid of the bidder above named in this Resolution for said bonds be, and the same is hereby accepted and said Water and Sewer Revenue Bonds of $250,000.00 are hereby sold unto said bidder in accordance with the terms of said bid; and the Mayor and Clerk of the City are hereby authorized and directed to obtain the preparation and printing of said bonds and the execution and attestation of the same by the proper officers of the City of Kalispell, and to cause the said bonds to be delivered unto the purchaser upon receipt of the purchase price there- for by the City Treasurer; 2. That said bonds shall be dated May 1, 1959, and shall be of the denomin- ation of $1,000.00 each, and said bonds and the interest coupons attached thereto shall be payable at the office of the Treasurer of the City of Kalispell, in Kalispell, Montana. 3. That the rate, or rates, of interest which said bonds shall bear shall be as follows: For bonds maturing in each of the years 1960 to 1969, inclusive, 3.55% per annum; For bonds maturing in each of the years 19 to 19 , inclusive, % per annum; For bonds maturing in each of the years 19 to 19 , inclusive, % per annum; For bonds maturing in each of the years 19 —to 19 _, inclusive, � % per annum; said interest being payable semi-annually on November first and May first in each year. 4. That the form of said bonds, interest coupons attached thereto and Certi- fication of Registration to be printed thereon shall be in substantially the following form, via: (Form of Bond) No. $1,000.00 UNITED STATES OF AMERICA STATE OF MONTANA COUNTY OF FLATHEAD CITY OF KALISPELL WATER AND SEWER REVENUE BOND SERIES OF 1959 KNOW ALL MEN BY THESE PRESENTS: That the City of Kalispell, Flathead County, Montana, acknowledges itself to owe, and for value received hereby promises to pay to bearer hereof on the first day of May 19. 19 the principal sum of ONE THOUSAND DOLLARS ($1000.00), with interest thereon from date hereof at the rate of per cent (3.55%) per annul, payable semi-annually on November first and May first of each year, upon the presentation and surrender of the annexed interest --coupons as they severally.becoea payable,•both principal and interest being payable in lawful money of the United States of America at the office of the Treasurer of Kalispell, in Kalispell, Montana, This bond is one of an issue of the Water and Sewer Revenue Bonds, Series of 1959, of said City, of like date, tenor and effect, except as to dates of maturity and varying rates of interest, aggregating Two Hundred Fifty Thousand Dollars in principal amount, numbered from One (1) to Two Hundred Fifty (250), both inclusive, of the denomination of $1000.00 each, maturing in numerical order, lowest numbers first, on May first of each of the years 1960 to 1969, both and all years therein Inclusive, as shown by the Schedule of maturities printed on the back hereof; all of which -bonds have been issued by said City for the purpose of financing the construction of additions, improvements and betterments to the water and sewer systems of said City; and this bond has been issued under the authority of, and in strict compliance with, the Constitution and Laws of the State of Montana, including Chapter 24 of the Session Laws of Montana of 1947, as amended, and the Resolution herein after referred to and the Resolutions and other legal and sufficient procedure had and taken by said City, and pursuant to a vote of a majority of the qualffied taxpayer electors of said City voting at a special election duly and legally called, noticed and held on April 6, 1959, The City of Kalispell reserves the right to redeem any or all bonds at par maturing on or after May first in each of the years 1966 to 1969, both and all years therein inclusive, on any interest payment date on or after May 11, 1965, in the in- verse order of their numbering, highest numbers first, upon and after prior publi- cation of such notice of the intention to redeem any of said bonds by publication at least once in a newspaper of general circulation within said City, said publication to be at least thirty (30) days prior to the date of intended redemption, and by mailing notice of said call at said time to the purchaser, or purchasers of said bonds, and upon the date fixed for redemption, interest upon the bonds thus called shall cease to accrue. This bond and the interest thereon are payable solely from the Special Fund named and known as the "Water -Sewer Revenue Bond Redemption Fund of 1959", created by Resolution passed add approved May 19, 19599 providing for the payment into said Special Fund from the gross earnings of the Water and Sewer Systems of said City of fixed amounts sufficient to pay the principal of and interest upon the issue of bonds of which this is one, as the same became payable and as provided in said Reso- lution; and the said City of Kalispell hereby covenants and agrees with the holder of this bond and each subsequent thereof, that it will pay, and cause,to be paid Into said Water -Sewer Revenue Bond Redemption Fund of 1959 monthly, commencing May 1, 1959, to and including the final maturity of said bonds, from the earnings and revenues of said systems a sum sufficient to pay such principal and interest at maturity; and as provided in said Resolution, and will perform and keep all the covenants and provisions of said Resolution; that said City shall not sell, lease, or in any manner dispose of its municipal water and sewer systems, or any substantial part or unit thereof, until the bonds herein authorized, with interest thereon, shall be paid in full; that said City, until all of said bonds and the interest thereon shall have been fully paid, shall not reduce the rates demanded or required by it for water and sewer service so that the gross revenues of said systems shall be in- sufficient to pay for the retirement of the principal and interest of said bonds; that if at any time the gross revenues of said systems, or as hereafter bettered, extended or improved, shall not be sufficient to pay the costs of operation and maintenance and any other charge having a prior right, and the charges thereon created in favor of the bonds referred to in said Resolution, it, the said City shall increase Its said rates to such rates and amounts as will be sufficient to provide for the payment of all such costs of operation and maintenance of said systems and any other charge having a prior or equal right, and of the Revenue Bonds referred to herein and the interest thereon and other incidental costs and expenses permitted by Statute; that, said City will establish, maintain and collect rates for said water and sewer service for so long as any of the authorized bonds herein are outstanding and will make available for the payment of the principal and interest of all such bonds as the same shall accrue an amount equivalent to 1.5 times the amount required each year for the principal and interest payments due on all such outstanding bonds; that in order to reserve the priority of said Water -Sewer Revenue Bond Redemption Fund of 1959, the said City shall not create, or permit to be created, so long as any of the said bonds shall be outstanding and unpaid any indebtedness or charge whatsoever which shall be a charge against the revenues of said systems superior to the charges created by said Resolution; that any future charge or special fund indebtedness which may be created by said City, to be payable out of the revenues of said systems, ex- cept parity bonds as authorized by Resolution dated May 19, 19599 shall constitute a charge and lien subject and junior to the charge and lien thereon created by said Resolution, The City of Kalispell covenants and agrees to establish a Special Reserve Account:An the amount of $30,000.00 within three years from date of said bonds, and It will maintain said Special Reserve Account at all times in that amount, in addition to the Water -Sewer Revenue Bond Redemption Fund of 1959. It is hereby certified that all acts, conditions and things required by the Constitution and laws of said State and by the Resolutions of said City to happen, exist, and to be done and performed precedent to the in the issuance of this bond have duly happened, have existed, and do exist, and have been done and performed, and that this bond and the bond issue of which it is one are not affected by any constitut- tonal or other municipal debt limitation. 4 IN WITNESS WHEREOF THE CITY OF KALISPELL, FLATHEAD COUNTY, MONTANA, has caused this bond to be signed in its corporate name by its Mayor, countersigned by its Treasurer and attested by its Clerk under the seal ©f said City, and the coupons attached hereto to be signed by the facsimile signatures of the Mayor, Treasurer, and Clerk, which facsimile signatures are hereby adopted by said City and by said officials, as the signatures of said Mayor, Treasurer, and Clerk, this first day o£.May, 1959. CITY OF KALISPELL* FLATHEAD COUNTY, MONTANA ATTEST: BY Mayor COUNTERSIGNED: Clerk Treasurer (Form of Interest Coupon) No. $ (November) On the first day of (May ), 1 �`, the City of Kalispell, Montana, will pay to bearer at the office of the Treasurer of the City of Kalispell, in Kalispell, Montana, Dollars ($ _ ), lawful money of the United States of America, sorely from the ter -Sewer Revenue Bond Redemption Fund of 1959" and the Special Reserve Account, of said City, created by Resolution passed and approved May 19, 1959, and solely from the earnings and revenues of the water and sewer systems of said City, Ding the semi-annual inter- est then payable on its Water and Sewer Revenue Bond, Series of 1959, dated May 19 1959, Bond No.. CITY OF KALISPELL, FLATHEAD COUNTY, MONTANA ATTEST: BY Mayor Clerk COUNTERSIGNED: Treasurer The Following additional language will be printed upon the coupons of the bonds subject to prior redemption, viz: In the event of prior redemption of the annexed bond all unearned interest evidenced hereby as of the date of such prior redemption shall cease to be payable. CERTIFICATE OF GISTRATION To be printed upon the back of each bond I hereby certify that the within bond before its delivery and issuance has been duly registered by sae in the public Bond Registration Book kept in the office of the Treasurer of said City as required by law. Treasurer of the City of Kalispell', Flathead County, Montana. Howard V. Hammer Mayor ATTEST H. J. Hunt City Clerk After consideration of the foregoing Resolution its adoption was moved by Councilman H. D. Huggins, seconded by Councilman Fred Metcalf, and submitted to an AYE and NAY vote of the Council, which being duly recorded by the City Clerk, resulted as follows: �I Councilman Metcalf voted "AYE" Councilwan,Horstman voted "AYE" Councilman Haddow, voted "AYE" Councilman Ryder voted "AYE" Councilman=Fisher Absent Councilman Huggins voted "AYE" Councibsen Harmon voted "AYE" Councilman Vick voted "AYE" with no votes "NAY", whereupon the Mayor declared said Resolution duly adopted and In approval thereof signed his name at the end thereof, which signature was attested by the Clerk under the seal of said City, as shown on said Resolution, and the Clerk was directed to make the foregoing proceedings a part of the permanent records of the City. The Mayor then accounced that this special meeting was also held for the pur- pose of receiving bids for construction of covers on the two reservoirs in accord- ance with the following notice given and acknowledged: TO THE HONORABLE BOARD OF ALDERMEN CITY OF KALISPELL, MONTANA Gentlemen: There will be a special meeting of the City Council Tuesday, May 19th, 1959, at 7:30 P. M., for the following purposes: SALE OF REVENUE BONDS OPEN BIDS ON RESERVOIR COVERS We, the undersigned, being all of the members of the City Council, do hereby waive notice of the date and purpose of the Special Meeting of the City Council to be held Tuesday, May 199 19591, at 7:30 P. M., and consent to the trans- action of any and all business to come before the Council as designated above. ATTESTHe J. Hunt Howard V. Hammer City Clerk Mayor H. A, Fisher George Haddow Walter A. Ryder Bernard Horstman Cal Robinson, City Attorney H. D. Huggins Fred F. Metcalf Tan Harmon R. V. Vick The following bids for reservoir covers were received and opened: BID TABULATION RESERVOIR COVERS WATER DEPARTMENT May 19, 1959 GENERAL CONTRACTOR BASIC BID #1 BASIC BID #2 COMBINED BID Federal Construction Company $40,442.00 $27,840.00 $68,282.00 Spokane, Washington Montana Builders 32,573.00 24,337.00 56,910,00 Kalispell, Mont. Robert Ross 26,443.00 Kalispell, Mont. Gyrion Construction & Bldg. Contractor 34,185.00 24,320.00 530630,00 Kalispell, Mont. Dale Collins Construction 36,605.00 259991.00 599985.00 Kalispell, Mont. r M� GENERAL CONTRACTOR BASIC BID #1 BASIC BID #2 COMBINED BID p� Bolton & Tanner $53*381.00 $339568.00 $86,080.00 Missoula, Mont. E. F. Matelich Construction Company 339300.00 239300.00 55,000.00 Kalispell, Mont. Pew Construction Company 80,895,00 Missoula, Mont. It was mowed by Harmon, seconded by Vick, that the bid of Gyrion Construction Company for construction of reservoir covers A and B in accordance with Notice of Bid and specifications at a combined bid of $531p630900 be and is hereby accepted and it be resolved that the Mayor and Clerk be authorized and directed,to enter Into a contract at said bid price in accordance with the specifications and for completion of Reservoir Cover A within 60 days hereafter and completion of Cover B 45 days after September 1, 1959, and that bid bonds of unsuccessful bidders be returned. Motion carried. Upon motion duly made, seconded and adopted unanimously, the meeting adjourned. Read and approved this 1st day of June, 1959. Mayor ATTEST J� ity Clerk SPECIAL MEETING A Special Meeting of the City Council was held May 220 19599 at 5s10 P. M., In accordance with the following notice given and acknowledged: TO THE HONORABLE BOARD OF ALDERMEN CITY OF KALISPELL, MONTANA Gentlemen: There will be a special meting of the City Council Friday, May 22nd, 19599 at 5910 P. M., for the following purposes: AGREEMENT ON CURBS AT B & B INSPECTION ON RESERVOIR COVERS Woo the undersigned, being all of the members of the City Council, do hereby waive notice of the date and purpose of the Special Meeting of the City Council to be held Friday, May 22, 1959, at 5:10 P. M., and consent to the trans- action of any and all, business to come before the Council as designated above. ATTEST H. J. Hunt Howard V. Hanuw-r City Clerk- Mayor H. A. Fisher George Haddow Walter A. Ryder Bernard Horstman Cal Robinson, City Attorney H. D. Huggins Fred Metcalf Tom Harmon Dick Vick Mayor Hammer presided, with Councilmen Fisher, Haddow, Horstman, Huggins, Metcalf, Ryder, and Vick present. Harmon was absent. 1 1