Resolution 2671 - SID 306 Bonds - Form and DetailsM
RESOLUTION NO. 2671
A RrSOLUTION DESCRI13ING THE 1`011M AND DETAILS FOR DIR,'�-ICTING Tli:,: EXECUTION AND
DELIVLIRY OF $1;3,,530.00 OF SPECIAL IMPROVEMENT DISTRICT NO. 306 30INDS OF THE'
CITY OF KALISPELL, iIONTANA.
'11"REAS, Mon "in
�i' there has been created under the Statutes of the State Of ' t a by
the City of Kalispell, 1,11ontana, Special Improvement District No. 306 for the
purpose of laying water mains and appurtenanceslin NlorthrldgoiArea of Kalispell,
�,',TEREAS, the estimated cost of said project is �13,500.00.
NCM T11EREFORE, BE IT RESOLVED, by the City Council of the City of Kalispell,
MI
ontana, as follows;
1. That for the purpose of obtaining and providing runds — pay the cost of the
above prolioct, and pursuant to the authorities.of the Statutes'of the State of
Montana and the proceedings recited in the prearable hereto, and shall forwith be
prepared for execution and delivery Special Ii,,iprovemcnt District No. a�, 30'ads of
the City of Kalispell, Nlontana, in the aggregate priucipal -.moul)t of THIRTIMN
THOUSAND FIVE HUNDRED DOLI�ARS ($13,500.00), whichlis the estimated cost and ox-
pecan of the foregoing, which bonds shall be dated April 1, 1968, and shall bear
interest at the rate of Five and seven -tenths per oent (5.7%) per annum, payable
annually. Said Bonds shall be twenty seven (27) ' in number; and numbered serially
from one to twenty-sevon� both inclusive, and said bonds shall become due and pay-
able on the first day of January, 1988.
Said Bonds shall be redoenable by the Treasurer of the City o� Nalispell, Montana
at par and accrued interest, when there are funds in said Spedial Improvement
District No.306 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 nay out of said Special improvemont'District No. 306 Fund,
annually, the interest on all outstanding bonds upon prosentationlof the coupons
belonging thereto, and any funds remaining'shall �e a�?iicd to the payment of the
nrincipal and the redemption of the bonds. I I I I 1 1. 1 1
t. The interest on said bonds shall be payable annually on the I first day of Jan-
iiry of each year commencing January 1, 1969.
3. S,�id bonds and the interest coupons to be thereto a�taqhed, and registration
certificate to be endorsed theron, shall be in substantially'the form attachod
horeto as Exhibit "A" and by the reference made a part I hereof.
4. Said bonds shall be forthwith prepared for exec 1�io4farui Shall bt�,executcd
on behalf Of the Special Irnprovement District tio. 06 o t6e City Of Kalis'pall,
11iontana, by the signature of the'Mayor of the City of Kalispell, attested by tile
City Clerk of the City of Kalispell, and by affixatibnlof �thelofficial seal of
the City of Kalispell, and the i ' nterest coupons shall Sa axe ' cpted and alIthentica-
ted by the engraved 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 pur-
chaser upon payment to the City Treal3urer of the purchase therbtof re agreed upon.
5. The Mayor, the City Council, and the City Treasurer of the City, of Kalispell
t
are authorized and directed to prepare and furnish to Ike pur aser of said bonds,
and to its Attorneys, certified copies of pll proceedi�gs and records relating to
said bonds and such other certificates and affidavits as may be required to bring
the facts within their knowledge, all as shown by the books and records under their
custody and control relating to the validity and marketabi * lity of sald bonda, and
said certified copies of certificates and affidavits, Including any'thereof hereto-
fore furnished, shall constitute a representation of the City'of lballlspell', Montana'
as to the truth of each fact reported to be shown therein.
13, The Cit� _rk is authorized and directed to order the printinqg of the Bonds and
Counons
AND CITY COUNCIL "INIS 1IT-11. 3AY OF !,.A ZH,Jq�6R.
C17y C;..'EF& Lauronce
I - T"Inle W.d1*7619'red, ctry' Clark' 0'� ths CttY Ot KAIISPell, her,bby certify that the
f0MOSOIng is 4 troe and correct copy of the resolution duly passed by the City
COUntil of the City of Kalispell, �,foptajla, at a regular meeting on _tUrch ll,_
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Cit C16 k of th City of Kalispell, MoWt7a ce