Resolution 2672 - SID 307 Bonds - Form and Detailsw
qESOLUTION NO. 2672
CU, UTIC-�� DZSC��!,,,ITNG IHE FORM AND DETAILS FOR DIREC'EING ',ME ZXZCUTION AND
D-�.TVL'."Y OF '�e54,00�),,00 OF SPECIAL !�.-,ZOVaICNT DIS'IRICT1110.307 BONDS 02 THE CITY
OF
ther- has boo -a cro -,,d tinder 1-he Statutes of Vlha J;tatlo of !-Ion�ana by the
C�-V Kalis--�ell� i-10""-Lanuaj Sp�cial Improvement District No. �07 for the purpose
c,,. laying, scrwer lines and a�l�urtenanccs in Northrid,o Eeights Area of
the estiiziated cost of said project is $54,OMDO.
-Pq,'R--F0:!E, -3E IT 11RESOLVED, by the City Council of the City of Yalispell, 1,ontana,,
as follows�
1, at f aining and provi�lng fund" to pa'y the'lcost of the
� T%1, for the purpose of obt,
al,ove nro--ct, and Dursuant to the authorities of the Statu'co,,4,of the State ot'"
proQeedinds recited in the proambl I I "orwiLh be
pre,);irod fGr e:�ecution ind delivery Special ImprovemQn- :�o. 307 Bonds of
-ho, -jzy of 'I,,- a it 0
pc I
11ispe,11, Kajjs� 11, Montana, in the aggregato. principi I amou, . f
Y'l-EFTY-FOUR TITOUSAND DOLL,�US ($54,000.00), which �s tho est;mated, cost and exponso
of t'-,o foregoing, which bonds shall be dated April 1, 1963, and shall boar inlarost
-it the rate of Five and twenty-five hundredths percent (5.25%) 1 r nnum, payable
"nn�iai ly. Said Bonds shall be one hundred eight in -number and nuriborod aerially
Zrogj Qj-�e to one hundred and. eight, both inclusive, and sail bonds s I hall became due
and payable on the first day of January, 1988.
Sain 3onds shall be redeemable by the Treasurer of the Citil of Kallspeli, I'loatana
at par and accrued interest, when there are funds in Said Sp'ecial iriprovemcnt
District No. 307 Fund, a_,ainst which said bonds are issued, available therefor,
and said rodLrx?tion shall be made in the mannor providod by law, provided zLat the
shcIl first pay out of said Special Improvement District No. 307 Fund,
j
�,nav"slly, tha, interest on all outstanding bonds upon prdsontatiot of the coupons
belonpizf; 'c:herotlo, and any funds roma-ining shall be ap,�lied to I the payment of the
principal and the redemption of the bonds. I
2. 7'he- interest on said bonds shall be payable annually 0 n'the first day of January
of each year cotnencing January 1, 1969. 1
3. Sa' ' d bonds and the interest coupons to be thereto attached, and registration
certificate to be endorsed thereon, shall be in,substanti ally the, forro attacliod
he
I roto as Exhibit ",'I" and by the reference made a,part
4. Said bonds shall be forthwith prepared for execution and shall be e::ocuted on
bohalf of thQ Special improvement District No. 307 of the City of Kalispell, Montana,
by the signature of the Hayor of the City of Kalispell, attested by the Ci'��y
of the City of Kalispell, and �'�y affixation of the� official seal of the City of
Kalispell, and the interest coupons 'shall be executed and authenticated by on-
Sraved or 11thographic facsimile signatures of said officers, which fact shall be so
recited in the bonds, and said bonds shall then be registered by the Ci.ty Treasurer.
When the bonds have been so fully executed and regislored, thJ �ity Treasurer shall
than deliver them, or cause them to be delivered to,the purchaser upon payment to
the City Treasurer of the purchase theretofore agreed upon.
5. Ehe "'layor, the City Council, and the City Treasurer of tha, City of Kalispell are
authorized and directed to prepare and furnish to the purchader of said bonds, and
to its Attorneys, certified copies of all proceedings and records relating to said
bonds and such other certificates and affidavits as may be required to brixig the
facts within their knowledgo, kl as shown by the books and records under &ir cus-
tody nt:td control relating to the validity and marketability of said bonds, arid said
certified co,,�ies of certificates and affidavits, includinglany thereof heretofore
Lur"'I'shed, sa"I constitute a representation of the City of Kalispell, Montana as to
tho truth of onch fact reported to be shown there -in.
C I t -7 L
is authorjtzodi and directed to order the prinrin,� of the Bond-, an��
�'OVI:- 7, E 1,1AYOR XN'D CITY COUNCIL T',!TS 11TH. C,: ',,U%R H,
X� -L'
AT vt Z'0" X"' 1� -a,,,
ards 1 c CITY CLZRI, . .. ..
L
1, the undersigned, City Clerk of the City of,4Cklispell, theraby cartify that thw
foregoing is a true and correct copy of the i, , resclution duly passed by the City
Council of the City of Kalispell, Monta", regular aseting.-orr-) March 11
1968
�C�ityer�k WI-th City f Kalispeli, mo�tan__�
a