Resolution 2150 - Amends Reso 2142 - Denomination of BondsPURN
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF KALISPELL
MONTANA, AMENDING RESOLUTION NO. 214.2 OF SAID CITY OF KALISPELL,
MONTANAt WHICH RESOLUTION PERTAINS TO THE ISSUANCE OF GENERAL
OBLIGATION BONDS OF SAID CITY IN THE AMOUNT OF EIGHTY ONE THOUSAND
DOLLARS (981,000.00), FOR THE PURPOSE OF PURCHASING EQUIPMENTI
REPAIRSI REPLACEMENT AND FACILITIES FOR THE USE OF THE FIRE
DEPARTMENT OF SAID CITY BY CHANGING THE DENOMINATIONS OF THE
SERIAL BONDS PROVIDED F6R IN SAID RESOLUTION CHANGING THE AMOUNT
OF SAID BONDS TO BECOME DUE AND PAYABLE ON ihE FIRST DAY OF
JULY1 1950� AND EACH SUCCEEDING YEAR THEREAFTER, CHANGING THE
DATE SAID SERIAL BONDS ARE TO BEAR FROM SEPTEMBER 1, 1949, TO
JULY 11 1949 CHANGING THE DATE FOP, THE SALE OF SAID BONDS TO
AUGUST 17 1349, AND CHANGING THE FORM OF THE NOTICE OF SALE
PROVIDED IN SAID RESOLUTION TO CONFORM THERETO.
WHEREAS The City Council of the City of Kalispell, Montana
did on the 1�th day of April 1949, duly adopt Resolution No. 214�
of said City of Kalispell Montana, pertaining to the issuance
of general obligation boMs of sai City in the amount of Eighty
One thousand and no/100 Dollars ($811,000.00) for the purposes
therein stated; and
WHEREAS; it was provided in said resolution that if serial
bonds be issued thereunder such bonds would be 80 in number,
79 of which serial bonds would be in the amount of One Thousand
Dollars ($1,000.00) and one in the amount of Two Thousand Dollars
(1$29000.00); that Eight Thousand and no/100 dollars ($8,000.00)
of said serial bonds would become due and payable on the first
day of July 1950 and a like amount an the same day of each year
thereafter until all of such bonds should be paid except that the
last installment should be in theamount of Nine Thousand and no/
100 dollars ($91000.00)t that said bonds should bear the date of
September 1, 1949; and hat the dAte of sale of said bonds would
be August 15, 1949; and,
WHEREAS; said provisions so inserted in said resolution do
not conform tothe laws of the State of Montana concerning such
serial bonds and it is the desire of the said City Council of the
City of Kalispell Montanato amend said provisions of said
Resolution to conlorm to law; and to change the date for the
sale of said bonds to August 17, 1949;
NOW THEREFORE, BE IT RESOLVED by the City Council of the
City of Kalispell, Montana:
1. That Resolution No. 2142 of the City of Kalispell,
Montanat be and the same is hereby amended to read as followst
RESOLUTION NO. 2142
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF KALISPELLt
MONTANA PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION BONDS
OF THE CITY OF KALISPELL, MONTANA IN THE AMOUNT OF EIGHTY ONE
THOUSAND AND N01100 DOLLARS ($8116()0.00) FOR THE PURPOSE OF
PURCHASING EQUIPMENT REPAIRS1 REPLACEMENT AND FACILITIES FOR THE
USE OF THE FIRE DEP9TMENT OF KALSIPELL.
WHEREAS, The City Council of the City of Kalispell, Montana
has determined and found that.as a result of the City Bond
Election held in and for said City on April 4, 1949 to vote
upon the question of issuing bonds as a general obligation of
the City of Kalispell Montana in the sum of Eighty One Thousand
and no/100 Dollars ($h 000,00) for the purpose of purchasing
equipment, repair$ replacement and facilities for the use of
the Fire Department of Kalkpell, it hasbeen authorized by a
majority of more than 40% of the qualified, registered electors
of said City entitled to vote on such proposition, to issue
such bonds for the purpose aforesaid;
NOIN THEREFORE, be it Resolved and Ordained by the City
Q�quncil of the City Of, Kalispell, Montana;
1. That the City of Kalispell Montana do issue bonds,
as the general obligation of the City of Kalispell, Montana
in the amount of Eighty One Thousand and no/100 Dollars ($81,
000.00) for the purpose of purchasing equipment repairs
replacement and facilities for the use of the fire department
of Kalispell, Montana.
2. The bond or bonds to be issued hereunder shall be in
the principal amount of $81 000 00 shall be dated July 1, 19497
shall bear interest at a rate ��t 'exceeding six per centum (6%)
per annum, and shall be payable through a period of ten (10)
years from and after date of issue.
1 3. Such bond or bonds so issued hereunder shall be
amortization bonds or serial bondsi preference shall be amor-
tization bonds; if amortization bonds are issued the entire
issue may be put into one (1) single bond or divided into
several bonds as the purchaser may indicate in his bid and
as the City Council may determine upon at the time of the sale;
If serial bonds are issued and sold they shall be in the denom-
inations of One Thousand ($1,000.00) dollars and One Hundred
($100.00) dollars each3 the sum of Eight Thousand One Hundred
dollars ($8,100.00) shall become due and payable on the first
day of July 1950, and a like amount on the same day each
year therealter until all of such bonds are paid.
4. That the Mayor and the Treasurer of the City of
Kalispell, Montana are hereby authorized and directed to sign
said bond or bonds and the coupons attached thereto and to affix
the corporate seal of this City thereto and the said bonds
shall be attested by the City Clerk whether such bonds are Issued
as amortization bonds or serial bonds, provided, however, that
lithographic or engraved facsimiles o the signatures of the
mayor, treasurer and city clerk may be affixed to the coupons
in place of their signatures, when such fact is so recited in
the bond.
5. That this Council meet at the City Hall in Kalispell,
Montana, on the 17th day of August A D 1949 at 8:00 o'clock
P.M. of said day for the purpose ol r;c;lving 'and considering
the bids on the said bonds.
6. That the City Clerk of this City is hereby authorized
and directed to give notice of the sale of the said bonds in
the form hereinafter prescribed and that said notice shall be
published in the Daily Inter Lake a newspaper of general cir-
culation, printed and published at Kalispell Flathead County,
Montana, for a period of not less than four ?4) successive
weeks immediately preceding the date set for the sale of the
said bonds; tie form of notice of the sale shall be as follows:
Notice is hereby given by the City Council of the City of
Kalispell, M6ntana that the said Council will, on the 17th day
of August 1949 at the hour of 8:00 O'clock P.M. at its Council
Chambers In the'City of Kalispell, Montana sell to the highest
and best bidder for cash either amortization or serial bonds
of the said City in the total amount of Eighty One Thousand
and no/100 Dollars ($81 000.00) for the purpose of purchasing
equipment, repairs repiacement and facilities for the use of
the Fire epartment of Kalispell.
Amortization bonds will be the first choice and serial bonds
will be the second choice of the Council.
If amortization bonds are sold and issued the entire issue
may be put into one (1) single bond or divided into several
bonds, as the Council may determine upon at the time of sale,
both principal and interest to be payable in semiannual
installments during a period of ten (10) years from the date
of issue.
If serial bonds are issued and sold they shall be,,in the de-
nominations of One Thousand ($1,000.00) dollars and One Hundred
3100.00) dollars each; the sum of Eight Thousand One Hundred
dollars ($8,100.00) shall become due and payable onthe first
day of July 1950 and a like amount on the same day each year
thereafter until all of such bonds are paid.
The said bonds, whether amortization or serial bonds, will bear
date of July 1, 1949, will bear interest at a rate not exceeding
six per centum (6%) per annum payable semi-annnally, on the first
day of January and the first hy of July in each year, and will
be redeemable at the option of said City of Kalispell five (5)
years from the date of issue and on any interest paying date
thereafter.
Said bonds will be sold for not less than their par value with
accrued interest to date of delivery and all bidders must state
the lowest rate of interest at which they will purchase the bonds
at par. The Council reserves the right to reject any and all
bids and to sell said bonds at private sale.
All bids other than by or on behalf of the State Board of Land
Commissioners of the State of Montana must be accompanied by a
certified check in the sum of Eighty One Hundred and No/100
Dollars ($8100.00), payagle to the order of the City Clerk�
which will be forfeited by the successful bidder in the event
he shall fail or refuse to complete the purchase of said bonds
in accordance with the terms of his bid.
All bids shall be addressed to the Council of the City of
Kalispell, Montana, and delivered to the Clerk of said City.
Mayor 07-fEe-71-ty of _77-1-f-s-p-ell
ATTEST:
City Cler
7. That at least fifteen (15) days before the date fixed
for tie sale of such bonds, the City Clerk shall send'a copy of
such published notice of sale of bonds to the Secretary of the
State Board of Land Commissioners of the State of Montana and
shall thereupon furnish to the said secretary a transcript of
the proceedings had for the issuance of such bonds, and such
other information relating thereto as the secretary may find
necessary.
Passed by the City Council and approved by the Mayor this
14th day of July, 1949.
F. N, K1211er
ATTEST-. C. H. Brewer
City Ci_ei1c___
I, C. H. Brewer, Clerk of the City of Kalispell, do hereby certify
that the above resolution was adopted by the Council of said
City at a meeting held this 14th day of Julyt 1949.
�ity lerk of tR_e_C!tY__of__K_a1ispeIl,
Montana