Resolution 2665 - SID 308 - Sale of BondsRESOLUTIOU NO. 2665
WHEREAS, the Mayor and City Council of the City of Kal-
ispell, in compliance with the statutes of the State of Mon-
tana provided, have created Special Improvemsntti)�svtrict No. 3D8
of the City of Kalispell for the pu rpose of defra4ing the cost
of the installation of a sanitary s'&wer within the district, in
accordance with the terms and conditions,as specified in Resol-
ution No. 2658, entitled a Resolution or Int,ention to Create
Special Improvement District Number 308 and Resolution Number
2661 entitled a Resolution Creating said District,
NOW THEREFORE, be it resolved by the Mayor and City
Council of the City of Kalispell, Montana, as follows:
1. That there shall be sold and issued at this time the
bonds of Special Improvement'District No. 368 of the City of
Kalispell, Montanat in the.amount of TftIRTY-,FOUR THOUSAND
DOLLARS ($34,000.00) which bonds shall be dated April 1, 1968,
and shall be of the denomination of FIVE -HUNDRED DOLLARS ($500-00)
each.
2. That the City Council reserve's the I right to redeem
any or all of said bonds issued when there are funds in said
Special Improvement District No. 308 fund against which said
bonds are issued, available therefore; provided that the Treas-
urer shall first pay out of said Special Improvement District
No. 308 Fund annually the interest on all outstanding bonds
upon presentation of the coupons belonging theretoj�nd any
funds remaining shall be applied to the payment of the prin-
cipal and the redemption of the bonds in the order'of-their
registration.
3. That the Notice of Sale of the foregoing Jpecial Im-
provement District No. 308 bonds of THIRTY-FPUR THOUSAND
DOLLARS ($349000.00) shall be in substantially the following
form: (Refer to Exhibit "All attached,hereto
M
Exhibit "A"
NOTICE OP SALE OP
CITY OP WALtS?rLL,. ��IONTA74i�
RPFCIAL IMPROVEMMIT BONDS
Notice is hereby given by the Cit,,� Council of the City
of Kalispell, "ontanp that the said City Council i1rill, on the
4th dny 'of 11arch, 1964, at the hour of 7;30 o'clock in
the Council Chambers of the City Hall in Kalispell, %lontana,
sell to the himhost bidder for cash, sprial bonds of' various
Special Improvement Districts, as follows:
Special Irrinrovement District No. 306, In the anount of
TITIRTFE?4 THOUSAND, FIVE-HUNMEED DOLLARS ($13,500.00), for the
purpose of defraying the cost of construction of�maln water
lines within the district. I
--------------------------------
Special Improvement District No 307, in the imount of
SIXTY-THOU3AND DOLLARS ($60,000.00) �or the purpose ofidefray-
Ing the cost of construction of sanitary 3eWerZ Within thQ
district.
Special Triprovenent District No. 308 in the amount of
TITIRTY-FOUR THOUSAND DOLLARS ($34,000.00) 'for the purpose of
defraying the cost of construction of sanitary sewers within
the district.
Serial bonds will be issued and sold, 5,�.id bonds will be
in the amount of FIVE-ITUNDRED DOLLARS ($500.00) each. Bonds
will bear date of April 1, 19688 and will bear interest at a
rate not exceedinr six per cent (6%), payable alnu;�11v on,the
rirst day of January In each year, and said bonds shall be-
come due and payable on the first day of January, 19R'S, pro-
vided however, that said bonds and each and all ofithe 3ame
shall be redeemed by the Treasurer of, said City when there nre
funds in the respective Special Imnrovement District Punds ap�a-
inst which said bonds are issued, available 'therefore; pro-
vided that the Treasurer shall first pay out of rach Special
Improvement District Fund annually the inter6st,on all out -
Standing bonds upon presentation of t�e coupons belonmin7 therabo,
and any remaininq funds %hall be applied to the Darment"of the
principal, and the redemption of the bonds in the order of their
rep-,istration. I
Said bonds will be sold for not leis than their 7)ar valuc
with accrued Interest to the date of delivery, and all bidders
must state the lowest rate of interest at which they will pur-
chase the bonds at par. The City Council reserves the i-i7ht
to reject any and all bids and to sell said, bonds at private
sale.
Bidders may submit pronoaaI3 on all bonds listed herein
or on individual Districts only. All bids nuit be accompanled
by a Certified Check in a num equal to five per cent (5%) of
the total bid payable to the order df the City Clerk of the
City of Kalispell, %Tontana, which will be forfeited by the suc-
cessful bidder in the event he shall fall or refuse.to conplete
the purchase of said bonds in accordance� with the terms of
his bid.
All bids shall be addressed to the City Counc-11 or t'h�e
City of Kalispell, Montana, and delivered to, the Citv Clerr:
of said City. I
DO'NP: BY THE ORDER OF THE CITY C1�61,1�IL OP TiIE CITY OF �:ALT-
3PELL MONTANA, this 15th day of"Jah , 1968.
# '��ry I �
PASSED AND APPROVED BY THE MAYOR AND CITY COUNCIL OV THE CITY
OF KALISPELL, MONTANA, this 15th day of JANIARY, 1968.
ATTFS.
City -Cl�
I, the undersigned, City Clerk of the City ofiKalispell, herleby,certify
that the foregoing is a true and a6trect copy of the resolution duly
passed by the City Council of e ity of KalispeXis Montana, at a
968 -?
regular meeting on January tg� /11
.of 41 ispal�,, Montana
-2—