Resolution 2673 - SID 308 Bonds - Form and DetailsRESOLUTION NO. 2673
A 11�,,SG�X71TON DZISCRTBIN'G THE FORM AND D17AILS FOR DIIECTIING '2771" EINICUTION AND
DI]LIVI-RY OF $32,000.00 Of SPECIAL LXPROVa-UNT DISTRICT NO. '308 BOI.NDS OF THLI CITY
'Wh=AS, thQre has been created under the Statutes 'of the State of Montana by the
C�ty of "�alispell, Montana, Special 1113provement District No. 308 for the purpose
0 f laying sewer lines and appiu"onancos in Adaiiis AddVtjon , Aror,4, of Kalispell,
',iTLiRE'AS, the estimated cost of said project is $32,000.00.
NOd TTIZa!7 ORIE, BE IT RESOLVED, by the City Council of the City of Kallsppll, �,ontaaa,
as follows:
1. That for �-Iiv purpose of obtaining and provicnis 1111 V111 cost of tile
above proJuc�_ anu pursu�it to the authorities of the of
�Iontanai and the proceedings recited in the preamble herdto, 4C cw ztcl 1 be
'repared for execution and delivery Special Improvemon� District No. 308 3on.ds of
the City of Kalispell, Kalispell, Nontana, in the aggregate principal aruount of
TI'IIIIIZTY_T��Q THOUSiUd) DOLLUS (,�32,000.00), uhlich is rho estinatcd cost and expense
of the foregoing, which bonds shall be dated April 1, 1968 ', and shall bear inter-
est at the rate of Five and seven-tcnths per cent (5.7f-') per annum,"layable ann-
ually. Sale, 3onds shall be sixty-four In number, and numbered I serially, rom one
to sixty-four, both inclusive, and said bonds shall beconie due and payable on tile
first day of January, 1988.
Said Bonds shall be redeemable by the Treasurer a f the City of Kalispell, Nontana
at par and accrued interest, when there are funds in'sAid Special Improveniont
District No. 308 Fund, against which said bonds are Issued, availabl� 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 PistrLct No. 308
Fund,annually, the interest on all outstanding bonds upon presentation of the coupons
belonging thereto, and any funds remiaining shall be ji�plied to the payment of the
principal and the redemption of the bonds4 i
2. The interest on said bonds shall be payable annually on the first day of Jan-
uary of each year commLncing January 1, 1969.
3. Said bonds and the interest coupons to be tliereto attached, 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 ImprovomLnt District No. 308 of the City of Kalispell, Nontana,
by the signature of the Mayor of the City of Kalispell, attested by tile City Cler",
of the City of Kalispell, and by affixation of the official seal of the City of
a
Kalispell, and the interest coupons shall b executed aill authenticated by the an-
gravad or lithogr.phl. facsimile signatures of said officers, which fact shall be so
recited in the bonds, and said bonds shall than be registeied by the City Treasurer.
When the bonds have been so fully executed and registered, the City Treasurer shall
then deliver them, or cause theip 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 C J lLy of Kalispell are
authorized and directed to prepare and furnish to the purcliaser of said bonds, and
to its Attorneys, certified copies of all proceedings and records relating to said
bond� and such other certificates and affidavits as I may Do required to bring the facts
within the-' , r %nowledgo, all as shown by thJ books and racoyds under their custody and
control re.1.1ting to the validity and marketability of sale bonds, and raid certified
coples of certificates zinc' affidavits, Including any�theroof heretofore furnished,
shall constitute a representation of the City of Kalispell, M6ntana as to the truth
of each fact reported to be shown therein.
� ... Cil--y Clor% is authorized and directed to order the printin,- of the 3onds and
by �--5 AND CITY COUN'CIL THIS IITIT� D��Y oy,
1 741
CITY CL_RK Laurence C, Bjorn b -"ILWOR
Ircis
1, the undersigned, City Clerk of the City of Ispell, hereby certify that the
foregoing Is a true and correct copy of the r o)ution duly pasAei&lj� the City
Council of the City of Kalispell, Montana, at regular meettio" ch 11
1968 __2_
Ity erk the Cit of Kalispell, Montana
Z, I/