Resolution 2382 - Sewer and Water Revenue Bonds551
RPS01UTION NO. 2182,
WUMMA, thn rmalified electors of the City of Kalispell, Flathend Count>
Montana, hnve horutc,foro authvrized the issuance of Wator and Sewer Revenue 30nds
of said City in the jurincipal amount of $250,000.00 for the Purnnso stnted in the
Resolution ndopted February 2, 1959, being Resolurion No. 2179, bv a vote of 1164
FOP Lhe issuance of UAter and Sewer Rnvenue bomin and n vow of 491 AGAINST thc
Issuance A Warer and Sewer Rrvenuc Fonds, there being 9 invokid votes cnst, and
it is deemed advinable by the Mayor and Cokmall Q the City of Kn1impell, Montanm'
at this tima Lo issue the 0290,000.5) Wavrand Sewcr ��ovcaule �OmJls thus auLho'.rized
aL the SpeCial clenion, held within chid CUO on ApAl 6, IM,
rhc Moyar and Council of We City of KaWpell,
Montana, as follows;
1. That Lhere shatl be sold and jSSUed at WAS time the WaLur and Sewer
Revenue Bonds of thn City of KnItspall, Montana, in the amount Q 5250,000.00,
which bonds shall be dated May 3, 1959, and shall be a %) deMminaLicol of $1,W),
each,
2. TW the City Council reserve the to redeom rtay or of Wd
bond issuc maturing nn kw nEter Nny first in each of the years 1965 to 1969, both
and all years therein inclusive, an niy interest payment date on or after Aky 1,
1965, in the inverse order of their nirkering, WhouL numhers first, upon and
aft, prior publication of the notice of the intmolon to redcumi any of sald hom-"
by publication W much notion at Wast once in a newspnpnr of gonoral circulation
within snid City, said publication to or at least thirty (30) dals prior to thf,',
date of intended redempti"n, mid by malting notice of said calt at said time to
the purchaser, or purchascrs, oE said hands, and uDon the date fixed for redemption
interest M)on thn bonds thus called for redonption shall cease to accure. The
Eorenoing redemption to he at par and accrued inmest nt the We !""e by snid
bonds�
3. That the Notice of Snla of the foregoing Wntar and Saw= levenue Ronds
of $250,000,00 shall in in substantially the f0lowing fann, viz.
NOTICE 01' SAL-l", OF IIIYVI'�-'R
07 Uz C"Y OF KUTSPEU ''L
NUFICE IS HRREBY CIVEN by the Mayor and Council of the City of Knit -poll, yontann,
OF the intention to Rell Water nnd Qwcr Revenue Bonds oF snid City in the amount
of S250,000.00, herutof,mc auLhorlzed or n snccinl cleotion hold in said City o''a
April 6, 1959, for the purpose of acqutring funds to pay the test of 7naking curLQu
improvements to the YntCr and Quar QSLOOS P=Sunnt to the provisions uf Resolution
No. 2379, passed and approved hy the Maqw and CUy Cmm&l on Fulnuary 2, IMN
Sold bonds shall be dated May 1, 1959, shall hwr innunr at a raw, or rmes, of
not in excess of Five per cont (0) per nnnna, pnynble semkannually, and shall run
for a,perjod of Lon (10) ycars From date of issue, shall he V the dennminatinn
of $1,000.00 each and shall namme and he pnyable as follmes: $21JTO,W in eadi of,
the years 1960 and 1961; $22,000,00 in the yvar 1962; $23,000,0D in the yuar 1963;
$74,000.00 in the year 1964; 125,000.00 in the yeor 1965; 027,000.00 in the year
1966; $28,000.00 in the yenr 3967; 529,000.00 in the ycar 1968, nnd $30,0=00 in
the year 1969,
The City Council of the City of Kalispell, Montana, reserin: the riqht to radcom
any or all bonds of said bond issue maturing on or al7tor -a, first 1" ench of the
years 1965 to 1969. both and all years therein inclusive, on any interesL Wwwont''
We on or Our Nay 1, 1965 , in the inverse nrc]0�_' OF Oar,� tr nu-n-,lun-in�,,,
numhors first, upon ond nVer prinr publication of the noLlcu of the intuntion to
redcvm any of said boRds by p0lication, of such ratice at Naar once in a newspaper
of Reneral circulation within said Cicy. Wd pohlienvion to he at least Lhirty OU)
days prior to the date of intended redumptiou, and by mailDo moWn of snid call
at said time to the purchaser, or purchasers, of said bonds, and upon the We fixed
for redemption, interest upon the bonds thus callc(l for onali c.ense Lo
accrua. The foragning redcmption to he aL par and occrued interest at the ratc,-
borne by said bonds,
The principal and interest of the foreqo1mg bonds are payable at thcoffice of Che
City Treasurer of the City of Kalispell, 1�onuqnn, i.n .ontuna,
None of said hands shall be sold Ent less Wn par and nacrued lutcrest to We
of delivery.
Sen0d hids for saW bonds nru ro�u"tod and rvqudred, Viddars therAor shall
suN�,,,�L si-sl�,d ,,Yrit�,cn lhid�,;
(a) The lowest rate of interest and prumimn, if nny p"Ir, at w4h.�cb
0no `)Vdor oill -.�urchnso sniO hondt's, or
(b) 1% lowust ratc of intarest at Wch tho bidder will purchnse such Bonds
at nnr,
and 001ch such Kid (excupt any bid Wdi may be nnct"d hy or tm bel"If of thc,
Stato Board of QQ Comitissicners of the Scon-� oV mu,,t he by
a cortiflod chock in the al"Unt OF Ova per cont (53 OE we wo;Wnt of weir bid,
payable to the order of the Pity Clerk, which nmount will be roturnod if the bid
is last 3cceptoQ nnd if the successbul hiddor shall 011 tn pay or Musc to cowplctc
tho purMse of said bonds in iccoromm wiLh the terms of his bid, the mnomit Of
the Uposit shall Wc EnrAltad to tho: City of Kalispull, MonLana.
All WS mint SWU nut interest cost to the City of KnItspell, jhncnnn�
W hids shall he addroqsPd to the Council of the City of Kalispell, Montana, and
,lelivereed to tho C.'lerk of acid C�Ly�
Scaled hids For said bonds will be received by the City CluM aml by said City at
the Mice of the CiLy Clerk in the City Nn11 in Wisnoll, Montana, at any tamc,
War to 7:30 o'clach, P. N., Mounwin Time, on Tueszky, Un 19M thy 0 M", JQ59,
at which tile and in the plate above specificil, thin mquinr mcetinn pinco of said
COMWI, said Mayor oral Council will mcat in i,)101111C t0r t-hC j`tLTr,-,DoSc OF
acnUdcrinq nny kids which may be received thereof, lba Council rcsorvcs the
to roject any and W bids and t-o sall ,,;,nid honds at )7.`lVn',-c szllc�
the WNW npprovinA OpinjOn Of 3urchnm N Alnlr, i)ond of SsOkcac, Wash-
inyton, will he furnished the successful blddcr. All. bido �-or dcj-L'J.�, C"I'la'l I)e
uaconditiounl, W City of Kalispell, Ahnunna, wH1 fmnAh prOted bwAs renci.v
Car execm0on,
H. J. WT
ETT" c 007
CITY OP EALLSVII, 4ONT,"PA
Us AnNor
(nD OF AMUT OF SAU)
4. That scaled h1ha for said bouds in conformity with the fare;ioinR rotin,�
of OR will be roceivcd hy the Cirrk and by Cat& City M any time prior to 7:30
o'clock P. A., Nountrin I Wo, on TucsHy, Mny 190, 195�,.),, iuid, nt� provided in sn.td
Notice of Sale. and the COrk Q further rpWred to n1vc Notice of We sale oE
said bonds to the State Ward of Lend Camissioners of the StaLu of Montana, at.
Helcna, Montana, such Notice to be given aL least 10 thys prim, to the time fimdl
Car the snic V said Hands in said Notice,
5. The City Wark is herHy required to couse publication of the faregain,,''
Noticc of SAO at least once at Hoot QVC (5) days behEore C�o clnt�� o'l-', suoh
in a ncuspvper oF general circulation wtuhin said City, said nompnpen- beinq the
Daily Wtor Lake, which is printcd cod publishad nt Kalispell, Montann, and the
CUrk is further required to causo publication of the foregoing Notice of Saba
oncv in a Hunnalal iiawspancr publishad either W the CUy al New Awk, (Womy,
ar San Francisco, snid publicntion to Vc nt least Eivu (5) days before the date of
sale.
6, A mWag of Un Tyur and My Council is hereby �"ixud and ordered Lo be
hold nt the time and place Hxud for thq salc or the Forcycin; bonds, nL which Lane,
the Mayur and Cnimcil, in opcn public muctinq nt its regular mcminj place in thu
city An1l, in Kalispell, lkintana, Shall onuo an(1 lbib-, uh�ci'l �-;u:�.y he tq�oldvrcd
:or said bonds and will at that tWe swnrd such bonds to Cho succcssful purchnser,
or in rhe unvurcrollvd discrution uf said Mayor nnd Co"ncil, shall reject any and
all hids Wrefor,
(00 OF U%M000
Claudc WaItcr
Wr Clcrk
ayor oi
553
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f ore go� in � is 9 t ru'--, n n d cc—rr(� f,'opv o h c" R III t. 3, cm C� Z- I[ v po ss c"d �v t,!- c v
C�,Amc�il of the City of, Kalispell, at lLs spvoin! on ��pril- l3th,
'19"13 9.
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