Resolution 2832 - SID 313 - Form and DetailsRESOLUTION NO.
A RESOLUTION DESCRIBING AND AUTHORIZING THE FORM AND DETAILS FOR
THE PRINTING, EXECUTION AND DELIVERY OF $100,000.00 OF SPECIAL
IMPROVEMENT DISTRICT #313 BONDS OF THE CITY OF KALISPELL, MONTANA.
WHEREAS, the Mayor and City Council of the City of Kalispell,
in compliance with the statutes of the State of Montanal didt,on
the 6th day of Julyf 1971, create Special Improvement District
No. 313 of the City of Kalispell for the purpose of installing
water mains, installing sanitary sewers and installing curbs and
paving in all of that area included in Northridge Heightso Section
Four, in accordance with the terms and conditions as specified in
Resolutions No. 2800 and No. 2808; and
WHEREAS, by Resolution No. 2817,,duly enacted by said Council
on the 9th day of August,.1971, bonds in the amount of $100,000.00
were authorized to be issued and sold by said City for the purpose
of obtaining funds to pay the cost of said project; and
WHEREAS, the City Clark did, in accord with said Resolution
No. 2817, give and publish due Notice of the Sale of said Bonds and,.
at a regular meeting of said council on the 7th day of September,
1971, a proper bid for serial bonds in denominations of $1,000.00
each, to bear interest at 7% per annum,,and to mature January 1, 1991,
was received from D. A. Davidson,,Inc.,,Great Falls, Montana, and,.
no other bid having been received,,said bid was accepted by the
Council at said meeting thereof; and
WHEREAS, all procedures and actions of the City in connection
with formation of said SID #313 and- issuing said bonds, have been
reviewed and approved by said D. A. Davidson, Inc., and the City
of Kalispell his been so advised by Ri.sken & Scribner, Attorneys
at'Law# Helena, Montana, Attorneys for said D. A. Davidsonp,lnc.
� NOW THEREFORE, BE IT RESOLVED BY THE. CITY COUNCIL OF THE CITY
OF KALISPELL, MONTANA, AS FOLLOWS:
1. The City Clerk shall forthwith cause Serial Bonds, with
coupons attached, in the total amount of $100,000.00, to be
Priftted,�'- executed and delivered, said amount being the estimated
cost of the expenses of said project.
2. Said Bonds shall be designated as "Special Improvement
istrict #313" bonds and shall be dated October 1, 1971, and shall
ear interest at 7% per annum, from the date of registration thereof,
ayable January lt.1973, and annually thereafter on January 1 of
ach year, at Kalispell, Montana, unless paid previously thereto,
ntil said Bond is called for redemption by the City Treasurer as
,rovided by law; said Bonds shall be one hundred (100) in number
nd shall be numbered serially one (#I) through one hundred (#100);
;aid bonds not theretofore redeemed shall become due and payable
)n January 1, 1991 and shall be redeemable prior thereto at the
)ption of the City of Kalispell at any time there are funds in
said Special Improvement District #313 fund for the redemption
thereof and in the manner as provided by law, provided that the
City Treasurer shall first pay out of said Special Improvement
District #313 fund, annually, the interest on all outstanding
bonds upon presentation of the coupons belonging thereto and any
funds thereafter remaining shall be applied to the payment of the
Principal and the redemption of said -bonds;
3. said Bonds, And the interest coupons to be thereto attached,
and the registration certificate to be endorsed thereon,.shall be
substantially in the form attached hereto as "Exhibit A" and which,
by this reference is made a part hereof;
4. Said bonds shall be forthwith prepared for execution and shall
be executed on behalf of the Special Improvement District No. 313 of
the City of Kalispell, Montana, by the signature of the Mayor of the
City of Kalispell, attested by the City Clerk of the City of Kalis-
pell, and by affixation of the official seal of the City of Kalispell,
and the interest coupons shall be executed and authenticated 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 purchaser upon
payment to the City Treasurer of the purchase theretofore agreed upon.
5. The City Clerk is authorized and directed to order the
printing of the Bonds and Couponsp as per.subsequent agreement with
the Purchaser, D. A. Davidson, Inc. -#,costs of such printing shall be
born by the Purchaser.
PASSED BY'�,THE CITY COUNCIL AND APPROVED BY THE MAYOR THIS''4Y.
DAY OF NOVEMBER, 1971.
May?r
ATTEST'.
T,
city cleVx
I, the undersigned, City Clark of the Cit ell, hereby certify ��t the
t on duly passed by -the City
y of =10
foregoing Is a true and correct copy of the 25:1,
Council of the City of Kalispell, Montana, at regular meet
November 8, 1971
11, Montana
4 6" 1 �
NUMBER
OCTI '919
C" 'jy
(FORM OF BONDS)
UNITED STATES OF AIMRICA
STATE OF MONTANA
CITY OF KALISPELL
SPECIAL IMPROVEMENT DISTRICT NO. 313
COUPON BOND
DOLLARS
1000
Issued by the City of Kalispell, Montana, at Kalispell, Montana
Payable Annually
Interest at the rate of 7.00% per annum
The City Treasurer of the City of Kalispell, Montana, will pay to
the bearorthe sum of
ONE THOUSAND DOLLARS
as authorized by Resolution No. 2808 passed on the Gth day of July,
1971, creating Special Improvement District No. 313 for the con-
struction of the improvements and the work perforned as authorized
by said resolution, to be done in said district and all laws,
resolutions and ordinances relatinU thereto, in payment of the
contract in accordance therewith. The principal and interest of
this bond are payable at the office of the City Treasurer of
Kalispell, Montana.
This bond bears interest at the rate of 7.00% per ann%nn from
the date of registration of this bond, as expressed herein, until
the date called for redeoption by the City Treasurer. Bonds of
this issue have affixed two sets of coupons, one set representing
interest at a basic rate, and the other set, desicnated `i;" coupons,
representing interest at an additional rate, so that the sur,�, of the
two sets of coupons shall equal the rate of 7.00%. The interest on
this bond is payable on the'first day of January, 1973, and annually
thereafter on the first day of January in each yoar unless paid
previous theretop and as expressed by the interest coupons herato
attached, which bear the engraved facsimile signatures of the 14ayor
and City Clerk.
This bond is payable from the collection of a special tax 6r
assessment which is a lien against the real estate within said special
Improvemant District, as described in said resolution hereinbefora
referred to.
This bond Is payable on,or before the lst day of Janu4ry, 1991,
and is redeemable at the option of the City at any timQ there are
funds to the credit of said Special Improvement District fund for
the red"Aption thereof, and in the mannor provided for the rcdamption
of the same. The dato�of redemption shall be fixcd by the Treasurer#
who shall give notice by publication once in a newspaper in Ralispall,
or at the option of tho Treasurer, by written notice to tho holdars
of such bonds if their addresses be known, of the number of bonds and
the date on which payment will be made, which date shall not be less
than ton days after the date of puLlication, or of service of notice,
on which date so fixed interest shall cease.
IT IS HEREBY CERTIFIED AND RECITED that all things required
to be done precedent to the issuance of this bond have been pro-
perly done, happened and been performed in the manner prescribed
by the laws of the State of Montana and the resolutions and
ordinances of the City of Kalispell, Hontana, relating to the
issuance thereof.
DATED at Kalispell, Montana, this lat day of October, 1971.
CITY OF KALISPELL, MONTANA
City Cleik Mayor
Registered at the office of the City Treasurer of Kalispell, Montana
this lst day of October, 1971.
City Treasurer
ZVERSE SIDB OF BOND)
UNITED STATES OF AMERICA
NO.
'ATE OF MONTANA
VY OF KALISPELL
'PECIIL
L IMPROVE�ULNT
DISTRICT NO. 313
COUPON DODD.
1000
PER 7.00 PER CENT
Dated
October 1, 1971
PRINCIPAL DUE
January 1, 1991
Redeemable at any time
INTEREST PAYABLE
January 1, 1973 and
annually thereafter on
each January 1
Payable at the office of the
CITY TREASURER OF KALISPBLL
Kalispell, Montana
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