Resolution 2993 - SID 321 Bonds - Form & Details14LI
RESOLUTION NO. 2993
A RESOLUTION DESCRIBING THE FORM AND DETAILS FOR DIRECTING THE
EXECUTION AND DELIVERY OF $15,000.00 of SPECIAL IMPROVEMENT DISTRICT
NO. 321 BONDS OF THE CITY OF KALISPELL, MONTANA
Wlll-:]�BAS, there has been created under the statutes of the State ot
Montana by the City of Kalispell, Montana, Special Improvement
District No. 321 for the purpose of bringing up to grade and
paving North Parkway Drive through Lot 14, Block 9, Section 3, North-
ridge Heights, City of Kalispell; and
WHEREAS, the estimated cost of said project is $15,00-0.00,
NOW THEREFORE, BE IT RESOLVED, by the City Council of the City of
Kalispell, Montana, as follows:
1. That for the purpose of obtaining and providing funds tc
pay the cost of the above project, and pursuant to the authorities
of the statutes of the State of Montana and the proceedings recited
in the preamble hereto, there shall forthwith be prepared for
execution and delivery Special Improvement District No. 321 Bonds
of the City of Kalispell, Montana, in the aggregate principal amount
of FIFTEEN THOUSAND AND N01100 DOLLARS ($15,000.00), which is the
estimated cost and expense of the foregoing, which bonds shall be
dated December 1, 1974 and shall bear interest at the rate of seven
per cent (7%) per annum, payable annually. Said bonds shall be
ten (10) in number, and numbered serially from one (1) to ten (10),
both inclusive, and said bonds shall become due and payable -on the
first day of January, 1985.
Said Bonds shall be redeemable by the Treasurer of the City of
Kalispell, Montana, at par and accrued interest, when there are funds
in said Special Improvement District No. 321 Fund, against which said
bonds are issued, available therefor, and said redemption shall be
made in the manner provided by law, provided that the Trea�urer shall
first pay out of said Special Improvement District No. 321 Fund,
annually, the interest on all outstanding bonds upon presentation of
the coupons belonging thereto, and any funds remaining shall be
applied to the payment of the principal and the redemption of the
bonds.
2. The interest on said bonds shall be payable annually on the
first day of January of each year commencing January 1, 1976.
3. Said bonds and the interest coupons to be thereto attached,
and registration certificate to be endorsed thereon, shall be in
substantially the form attached hereto as Exhibit "A" and by this
reference 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.
321 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 Kalispell, and by affixation of the official seal of the
City Of Kalispell, and the interest coupons shall be execu-Eed 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 Cj:ty 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.-'
1 "1 �)
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5. The Mayor, the City�,Council,,,,,and the City Treasurer of
the City of Kalispell are authorized And directed to prepare and
furnish to the purchaser 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 bring the facts within their knowledge, all as shown
by the booRr, arid records under their custody and control rolatinq
Lo.the validity and marketability of said bonds, and siiid (Zortified
Copies of certificates and affidavits, including any thoreof hereto -
fora furnished, shall constitute a representation of the City of Kal-
ispell, Montana as to the truth of each fact reported to be shown
therein.
6. The City Clerk is authorized and directed to order the
printing of the Bonds and Coupons.
PASSED AN PPRO D BY THE MAYOR AND CITY COUNCIL THIS 2nd DAY
�FSSE
PPRO D By THE MAYO
o
cember 197 4
'2 Ile'
Laurence G. Bjorneby, Mayor
ATTES
e,�Seardslee,�CitV C
I, the undersigned, City Clerk of the Clty-�, Kalispell, h6rel�_cert�fy that the fore-
"spe
ti
going is a true and correct copy of the sol ti-n duly passed by t1* City Council of
the City of Kalispell, Montana, at ;Wgu or m e on� lbecember/2. 1974
spell,