Resolution 2664 - SID 307 - Sale of Bonds215
RESOLUTION NO. 26614
WHEREAS, the Mayor and City Council of the City of Kali-
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spell, in compliance with the statutes of the State of Montana
provided, have created Special Improvement District No. 307 of
the City of Kalispell for the purpose of def ! paying the cost of
the installation of a sanitary sewer within the district'. in
accordance with the terms and conditions as specified in Re-
solution No. 2657, entitled a Resolution of Intention to Create
Special Improvement District Number 307 and Resolution Number
2660 entitled a Resolution Creating said District.
NOW THEREFORE, be it resolved by the Mayor and City
Council of the City of Kalispell, Montana,�as foll��S.
1. That there shall be sold and issued at this,time the
bonds of Special Improvement Dist rict-No.,307 of the City of
Kalispell, Montana, in the amount of SIXTY -THOUSAND DOLLARS
($60,000.00) which bonds shall be dated April la 1968, land shall
be of the denomination of FIVE -HUNDRED DOLLARS ($500.00) each.
2. That the City Council rese,rves the right to redeem
any or all of said bonds issued when there are funds in said
Special Improvement District No. 307 fund,against which,.said
bonds are issued, available -therefore; provided that the Trea-
surer shall first pay out of said Special Improvement District
No. 307 Fund annually the interest on all outstanding bonds
upon presentation of the coupons belongln� thereto and any
funds remaining shall be applied.to the payment'of the� prin-
cipal and the redemption of the bond in the orderlof their
registration.
3. That the Notice of Sale of the foregoing Special Im-
provement District No. 307 bonds of SIXTY -THOUSAND DOLLARS
($60,000.00) shall be in substantially the following form:
(Refer to Exhibit 100 attached heretb)
Exhibit "A"
NOTICE OF SALE Or
CITY OF KALInPELL, M0,11TANA,
L
.IPFCIAT* POP90VEMENT BONDS
Notice in hereby 7iVen by the Citv Counatl of Vie City
of' Ka %pell� * 4ontana that the *aid City Coluz,�Ctl wilI, , On the
lith dny of Mnrch, 1969, at the hour of 7.130 o'��Inck in
the Council Ch-inbprs or the City Hall in K'alispoll, Vlontana,
sell to the htr�,heat bidder for cash, serial bond�; of vrsriou3
Special Improvement Districts, aa follows:
Special Imnrovement District No, 306, in t�,,a anount of'
7HIRTEEN THOUSAND, ME-HUNDMED DOLLARS' 013,500-00), "Or the
purpose of defrayinT, the cost of construction of, main water
lines within the district.
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Special Improvement District No. 307o in the amount of
SIXTY -THOUSAND DOLLARS ($60,000.00) for the Ourpose of defray -
the cost of construction of sanitary sewers within the
district.
Special Improvenent District No. 308 in the amount of
THIRTY-rOUR THOUSAND DOLLARS ($340000.00) for the purl..)ose of
defraying the cost of construction of sanitary sewers within
the district.
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Serial bonds will be issued and soldp said bondi will be
in the amount of FIVE-TIUNMED DOLLARS ($500.00) each. Bonds
will bear date of April 1, 1963, nd will bear interest at a
rate not exceedinM six per cent (N), payable annually on t1he
Pirst day of January In each year, and said bonds shall,bc.
corme due and payable on the first day of 'January, 1983, pro-
vided however, that said bonds and each.,land all of the snme
shall be redeemed by the Treasurer of' said City when there are
funds in the respective Special Improvement District fLvW3 aga-
Inst which said bonds are issued # available thoreforo!_pro-
vided that the Treasurer shall first pay out of each 'Sf)0ci&_'
T,inrovement District Fund annually the interest on all out-
standinr
., bonds upon presentation of the coupons belonTing tber,�,,bo,
and any remaininFs-
, funds shall be applied to the Daymi,�,-nt of' thl)
principal, and the redemption of the bonds in thP order of their
registration.
naid bonds will be sold for not loss th," their par value
with accrued Interest to the date or delivery, and,all bidders
must state the lowest rate of Interest at which they will pur-
chase the bonds at par. The City Council re�erVbn-�lthe_right
to reject any and all bids and to sell said bonds at private
sale. I
Bidders may submit proposals on all bonds listed herein
or on individual Districts only. All blt'Ls must be accompanled
by a Certified Check in a sum equal to five per can'. (5%) of
the total bid payable to the order df the City Clerk of the
City of Xalispell,Montana, which will be forfeited by the suc-
ce,ssful bidder in the event he shall fail or refuse to coMolete
the purchase of said bonds in accordance with the torms of
his bid.
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M
All bids shall be addressed to the Cit-lp Couna-11 of' t,�Ie
city of Kalispell, Montana., .,#nd delivered tO the Citl ClOrk
of said City.
DOME BY THE ORDER OF THE C I Ty ITFIL OF T112 CITY OF �'ATLI—
SPELL, MONTANA, this 15th day of jam�ry. 1968. �)
PASSED AND APPROVED BY
OF KALISPELL, MONTANA,
THE MAYOR AND
this 15th day
CITY-COUNOIL 07,THE CITY
of JANUARY, 1968,
Mayor
ATTEST:
City C;el-k
I, the undersigned, City Clerk of the City of Kalispeil, hereby certify
that the foregoing is a true and corr9p; cop 'of the resoluti,on duly
passed by the City Council of the C y of Kalispell, Montana,[.at a
regular meeting on January 15 9
ty.0lerk o"ho City Wf 1"pellj