Resolution 2409 - SID 297 - Form and DetailsA RESOLUTION DESCRIBING THE FORM AND DETAILS -FOR DIRECTING THE EXECUTION AND
DELIVERY OF $21,000.00 OF SPECIAL IMPROVEMENT DISTRICT NO. 297 BONDS OF THE CITY
OF KALISPELL, MONTANA.
WHEREAS, there has been created under the Statutes of the State of Montana by the
City of Kalispell, Montana, Special Improvement District No. 297 for the purpose
of laying water mains and appurtenances in Adams and Underhill Additions to
Kalispell, and
WHEREAS9 the estimated cost of said project is $21,000.00, and
WHEREAS, the City Council of the City of Kalispell, Montana, has heretofore
contracted to sell said bonds to Grande and Company of Seattle, Washington, and it
Is advisable and proper that the form and details of said bonds be set forth and
described and made a matter of record In the minutes of the City Council of the
City of Kalispell, Montana, as follows:
NOW THEREFORE, BE IT RESOLVED, by the City Council of the City of Kalispell, Montana,
as follows:
1. That for the purpose of obtaining and providing funds to pay the cost of the
above project, and pursuant to the authorities of the Statutes of the State of
Montana and the proceedings recited In the preamble hereto, and shall forwith be
prepared for execution and delivery Special Improvement District No. 29T�Bonds of
the City of Kalispell, Kalispell, Montana, in the aggregate principal amount of
TWENTY-014E THOUSAND DOLLARS ($21,000.00), which is the estimated cost and expense
of the foregoing, which bonds shall, be dated September 1. 1959, and shall bear
interest at the rate of five and seventy-five hundredths (5.75%) per centum per
annum, payable annually. Said Bonds shall be forty-two (42) In number, and numbered
serially from one to forty-two, both inclusive, and said bonds shall become due
and payable on the first day of January, 1969.
Said Bonds shall be redeemable by the Treasurer of the City of Kalispell, Montana,
at par and accrued Interest, when there are funds in said Special Improvement
District No. 297 Fund, against which said bonds are issued, available therefor,
and said redemption shall be made in the manner provided by law; provided that
the Treasurer shall first pay out of said Special Improvement District No. 297 Funds
annually, the interest on all outstanding bonds upon presentation of the coupons
belonging thereto, and any funds remaining shall be applied to the payment of the
principal and the redemption of the bonds.
2. The interest on said bonds shall be payable annually 6n the first day of January
of each year commencing January 1, 1960.
3. Said bonds and the interest Coupons to be thereto attachedv and registration
certificate to be endorsed thereon, shall be in substantially the form attached
hereto as Exhibit "A" and by the reference made a part hereof.
4. Said bonds shall be forthwith prepared for execution and shall be executed on
behalf of the Special Improvement District No. 297 of the City of Kalispell, Montana,
by the signature of the Mayor of the City of Kalispell, attested by the City Clerk
of the City of Kalispell, and by affixation, of the official seal of the City of
Kalispell, and the Interest coupons shall be executed and authenticated by the en-
graved or lithographic facsimile signatures of said officers, which fact shall be so
recited in the bonds, and said bonds shall then be registered by the City Treasurer.
When the bonds have been so fully executed and registered, the City Treasurer shall
then deliver them, or cause them to be delivered to the purchaser upon payment to
the City Treasurer of the purchase theretofore agreed upon.
5. The Mayor, the City Council, and the City Treasurer of the City of Kalispell
are authorized and directed to prepare and furnish to the purchaser of said bonds,
and to its Attorneys, certified copies of all proceedingg and records relating to
said bonds and such other certificates and affidavits as may be required to bring
the facts within their knowledgev all as shown by the books and records under their
custody and control relating to the validity and marketability of said bonds, and
said certified copies of certificates and affidavitso including any thereof hereto-
fore furnished, shall constitute a representation of the City of Kalispell, Montana,
as to the truth of each fact reported to be shown therein.
PASSED AND APPROVED BY THE MAYOR AND CITY COUNCIL THIS 8th DAY OF SEPTEMBER, 1959.
ATTEST H. J. Hunt Howard V. Hammer
Clerk mayor
ROM
RALAM
I� the undersignedw City Clerk ef the City of Kalispell hereby certify that the
foregoing Is a true and correct copy of the Resolution duly passed by the City Council
of the City of Kalispell, Montana, at Its regular meeting on September 8, 1959*
City Clerk ef the City of Kalispellv Montana