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Resolution 2663 - SID 306 - Form and DetailsRESOLUTION NO. 2663 WHEREAS, the Mayor and City Council of the City of Hal- ispell, In compliance with the statutes of the State of Mon- tana provided, have created Speeial Improvement District No. 306 of the City of Kalispell for the purpose of defrayinr 'he cost of the installation of water mains within the District in accordance with the terms and conditions as specified in Resolution 2653, entitled a Resolution df Intention to Create Special Improvement District Number 306 and Resolution Number 2659, 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. 306 of the City of Kalispell, Montana, in the amount of THIRT8EN-THOUSAND,,FIVE- HUNDRED DOLLARS ($13,500.00), 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 reserves the right to reAeem any or all of.said bonds issued when there are fund* in said Special Improvement District No. 306 fund against which said bonds are Issued, available therefore; provided that the Trea3- urer shall first pay out of said Special Improv6ment D�strict No. 306 Fund annually the interest on all outstanding�bonds upon presentation of the coupons belonging thereto I' and any funds remaining shall be applied to the,payment of the prin- cipal and the redeMption of the bond in the order of their registration. 3. That the Notice of Sale of the foregoing �Pecial Im- provement District No. 306 bonds of THIRTEEN-THOUSAND,,FIVE- HUNDRED DOLLARS ($13,500-00) shall be in substantiallly the following form: (Refer to EXhibit "A" attached hereto) Exhibit'"A" NOTICE OF SALE OF CITY OF KALISPELL,. MONTANA, SPECIAL IMPROVEMENT BONDS, Notice is hereby given by the City Coun6il of the CitY of Kaliapell, 114ontana that the said City council will, on the 4th day 'of March, 19H. at the hour of 7:30 olelloc% P.M�, in the Council Chambers of the City Jjall in Kali:��pell, '�onta­.%,a, sell to the hirrhest bidder for cash, serial �onds of Various Special Improvement Districts, as follows: Special Improvement District No. 306, in thy amount W" THIRTEEN THOUSAND, FIVE -HUNDRED DOLLAR'S �$13,50Q-00), for the purpose of defraying the cost of construction Of main w4ter lines within the district. ---------------------------------- Special Improvement District 110. 30% in the amount of SIXTY —THOUSAND DOLLARS ($6o,000.00) for the -Purpose of defray— ing the cost of construction of sanitary sewers within the district. I Special Improvement District No. 308 in the, amount of THIRTY-FOUR THOUSAND DOLLARS ($34,000.00) for the purpo3e of defraying the cost of construction of sanitary sewers within the district. Serial bonds will be issued and sold, said bonds will be in the amount of rIVE-11UNDRED DOLLARS ($500 90) each. Bonds will bear date of April 1, 1968, and will b;ar �hti�'ileet,at a rate not exceedin;, six per cent (6%), payable annually on the First day of J�anuary in each year, and said bondsishall be- come due and payable on the first day of January, 198a, pro- vided however, that said bonds and each and all of the same shall be redeemed by the Treasurer of said City when there are funds in the respective Special Improvement District funds a��a- inst which said bonds are issued, available therefore; pro- vided that the Treasurer shall first pay out of each Special Improvement District Fund annually the Interest 'on all out- standing bonds upon presentation of the coupons belonging thereto, and any remaininv,, funds shall,be applied to the payment of the principal, and the redemption of the bonds in the order of their registration. Said bonds will be sold for not less than their nar value with accrued interest to the date of delivery, and all biddero must state the lowest rate of interest -at which they will our - chase the bonds at par. The City Council reserves the rif�ht to reject any and all bids and to sell said'bonds at r private sale. Bidders may submit proposals on all bonds listed herelln or on individual Districts only. All bids must be acco-mpanieo by a Certified Check in a sum equal to five per cent (5%) of the total bid payable to the order df the City Clerk of the City of Kalispell,, Montana, which will be forfeited by the sue- ce3sful bidder in the event he shall fail orzrefuse to complete the purchase of said bonds in accordance with the terms of his bid. -I- All bids shall be addregsed to the City Council of� the, City of Kalispell, Montana, and delivered to the City Cler�k of' said, City. DONE BY THE ORDER 0? THE�CITY C / OTJNCT� 07 THE CITY, OF IKALT.- SPELL, MONTANA, this 15th day of a�,ivary. 1968. ' ' PASSED AND APPROVED BY THE MAYOR AND CiTY COUNCIL OF TITE CITY OF KALISPELLO MONTANA, this 15th day of JANUARY, 1968. 1 -I 14� 4ay otr--- ATTE/ 'City C,14�rk I, the undersigned, City Clerk of the City of Kalispell, heraby certify that the foregoing is a true and ,,-,:!�rrect coPY10f the resolutioa duly passed by the City Council of re/city of Kalispel Montana, at a regular meeting on January I,' p�/ 968 7�1 City/Cle of h —t,��ity of Kal Ispall, Montar"