Resolution 2688 - SID 305 - Sale of BondsAOUV
RESOLUTION NO.�2683
VNERLILS, the Mayor and City Council of the City of yalispoll, in cc= -
cc wlta the statutos of the State of Montana provided. have created
I=r�rovamant Dlatrlct NO- 335 nf tlqn cit-11, Mf xnlqq�nll fn� MIA �Ei�
O'e defrnytnw, the cost of the Installation of water ziains within the
District in accord=ce with the terms and conditions as specified In
R, ",olutlon 2642, eatitlod a Resolution of Intention to Create Special
lmpzoveneat Dl- Number 305 and Resolution Number 2644, entitled a
2
,,asolution CraaZ*1zq; zald District.
NOW be It resolved by the Hayor and City Council of the
C'-',ty 01", Montana, as follows:
1. That there shall be sold and issued at this time the bonds -
Spci,ial li,-�provement District No. 305 of the City of Nalispoll, Montana,
In tha amount of S7X-THOUSAND, FIVZ-HUNDRED DOLLARs ($6,500.00), which
bolad�� shall be dated August 1, 1966, and shall be of th- e—A—V-4— AP
r1Vz-H'j'1qSaED DOLLARS ($500.00) each.
2. That the City Council reserves the ri&ht to redeem any or alt of
s,ald Londs issued when there are funds in said Special Improvezoat District
No. 305 fund against which said bonds are issued, available therefore;
pravl4zd that the Treasurer shall first pay out of said Special Improvement
Distric�t No. 305 Fund annually the interest an all outstanding bonds upon
prcsontatio" o� tho coupons boloaZiaS theroto and any funds remalniuZ shall
be applied to tho payzont of the principal and the redemption of the bond In
tha order of their registration.
That the Notice of Sale of the foreZoing Special Improvement District
No. 305 bonds of SIX -THOUSAND, FIVE -HUNDRED DOLLARS ($6,500.00) shall be In
substantially the following form: (4ofer to Mchibit "A" attached hereto)
Z(31
VnInTT "A"
NOTICE 07 SALE OF
CITY OF KALTSPELL, 1,<%1IANA.
SPECTAIL TMPIROVEIMENT BONU)S
Atice is hereby liven by the City C-01 of the Coy & lansyll,
nontars, that the said City Council Will, On the Ah day Of JVIY, 1963,
wL the hour of 700 O'clock P. M., in the Council Chambers of the CiLy Hall
'!n 11-10--Lana, sell to the hiahest bidder for cash, serial bonds
cf $PUCK! hyrovemen; District 305.
S
Sp,�,.cial TmprovCme'r-L nistrl5t No. 105, in the amount of Sit 71OUSANn,
TTVZ-PUNwr) :)OLIAR'S Q,6,500.00) for the purposo of defrayin�; the cost of
construction of swor !Wes witho the distOct.
Swrj8l bonds will be issued and soie; said bonds will be in the amount
of FIVE-IIUNDRED WLLARS Q500.00) each. 3onds will bear date of An3use 1,1968
and will bear interest at a rate not excecdinZ six per cent 00, payable
annuolly on the First day of January in each year, and said bonds shall be-
=w due aW payable on the first day of January, 1978, provided, however,
that said bonds and each and all of the same shall be redeemed by the Troasurer
V said City when t4re are iunds in the Special TmprovemanL District Fund
No. 005 alainu Which said bonds are issued, available therefore; provided that
the Treasurer shall first pay out of each Special Improvement District Fund
annually the Interest on all outstanding bonds upon presentation of ;he coupom
bel000int thereto, and any remaining Zunds shall be Applied to the payment of
the Principal, and the redemption of the bonds in the order of their wazistra-
tion,
Said bonds will be sold for not less than their par value with accrued
interest to the date of delive7y, and all bidders rm�,ist statc the lowest rate
of interest at which they will purchase the bonds at par. The City Council
reserves the rialt to reject any and all bids and to sell said bonds at private
sale.
All bids must be accompanied by a Cashiers or certified check in a suln
equal to five per cent (5%) or TEREE HUNDRED TANTY-FIVE DOLLARS ($325.00)
payable to the order of the City Clerk of the City of Kalispell, Montana,
which will to forfeited by the successful bideler in the event he --hall fail or
refuse to complete the purchase of said bonds In accordance with the- terms of
his bid.
All bids shall be addressed to the City Council of the City of Kalispell,
Montana, an$ delivered to the City-, Clerk of said City.
DONE BY WE ORDER OF 774E CITY COUNCIL OF TRZ CITY OF XALISPELL,mONT.Ik�NA,
this 3rd day of June, 1968.
City Clerk
ALI ish: June 13, 20, 27, and Jtily 4, 1968
PzLSSED AND kPI'ROVED al' 7HE MAY01 AND CITY COUNCIL OF THE CITY OF KALISPM,
t!7,ls !�zd day of June, 1963.
Kayor
1,. the undersigr.ed, City Clark of the City of Kalispell, hereby certify
t'x,,at the foregoing is a true a correct copy of the resolution duly
passed by the City Council If City of Kali 11, Montana, at a
regular meeting on June ��tlV968
ty qler*/of thotity of Kalispell, Montana