Resolution 3009 - SID 315 Bonds - Form and DetailsRESOLUTION 110. 3009
A RESOLUTION DESCRIBING THE FORM AND DETAILS FOR DIRECTING THE
EXECUTION AND DELIVERY Or $100,000-00 OF SPECIAL IMPROVEMENT
DISTRICT No. 315 BONDS OF THE CITY OF KALISPELL, MONTANA.
WBEREAS, there has been created under the Statutes of the State
of Montana by the City of Kalispell, Montana, Special Improvement
District -No. 315 for the purpose of installing water mains in
4B's Addition No. 45 and Gibson Addition No. 41, as described in
Resolution No. 2929, dated November 5, 1973,
WHEREAS, the estimated cost of said project is $100,000.00.
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 to 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 be prepared for
execution and delivery Special Improvement District No. 315
Bonds of the City of Kalispell, Montana, in the aggregate prin-
cipal amount of ONE HUNDRED THOUSAND AND NO/100 DOLLARS ($100,000.00)
which is the estimated cost and expense of the foregoing, which
bonds shall be dated April 1, 1975 and shall bear interest at the
rate of 7.3 % per annum, payable annually. Said Bonds shall be
one hundred (100) in number, and numbered serially from one to
one hundred, both inclusive, and said bonds shall become due and
payable on the lst 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. 315 Fund, against
which said bonds are issued, available 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 District
No. 315 Fund, annually, the interest an all outstanding bonds upon
presentation of the coupons belonging thereto, and any funds remain-
ing shall be applied to the payment of the principal and the redemp-
tion 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 sub-
stantially 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. 315
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 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 execuLed 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
therefore agreed upon.
RESOLTITION NK), 3009 Page 2
5. The Mayor, the city council., and the City Treasurer of the
City of Kalispell are authorized and directed to prepare and
furnish to thQ 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 cis may be required
to bring the facts within their knowledge, all as shown by the books
and records under their custody and control relating to the validity
and marketabil-ity of said bonds, and said certified copies of
certificates and affidavits, including any thereof heretofore
furnished, shall constitute a representation of the City of Kal-
ispell, Montana, as to the truth of oach fact reported to be. shown
thcrein.
6. The City Clerk is authorized and directed to order the printing
of the bonds and coupons.
PASSED AND APPROVED BY THE MAYOR AND CITY COUNCIL THIS 21st DAY
OF 1975.
Laurence GT-Bjorncb Mayor
y/1
I
ATTEST:
Be.ardslqp, C_Lty Clerk
1, th*� undersignod, C!
gotng is a trup. and c(
the City of Kalispell,
RESOLUTION M. 3009
EXBIBIT "A"
(Bond Form)
District No. 315
United States of America
State of Montana
$1,000.00
Interest at the rate of seven and three tenths percent (7.3%) per
annum, payable annually.
Special improvement District Coupon Warrant or Bond.
Kalispell, Montana
Issued by the City of Kalispell, Montana.
The treasurer of the City of Kal-ispell,-Montana, will pay to
bearer, the sum of one thousand dollars as authorized by Resolution
No. 2929 as passed on the 5th day of November, 1973, creating
Special Improvement District_i�`o.___315 for the construction of the
improvements and the work performed as authorized by said resolution
to be done in said district, and all laws, resolutions, and ordinancef�
relating thereto, in payment of the contract in accordance the- rewith.
The principal and interest of this bond are payable at the of"'ice of
the City Treasurer of Kalispell, Montana.
This bond boars interest at the rate of seven and three tenths
per cent (7.3%) per annun from the day of registration of this bond
as expressed herein, until the date called for redemption by the
City Treasurer. The interest on this bond is payable annually on
the first day of January in each year, unless paid previous thereto,
and as expressed by the interest coupons hereto attached, which bear
the engraved facsimile signature of the mayor and city clork.
This bond is payable from the collection of a special tax or
assessment which is a lien against the real estate within said
improvement district, as described in said resolution hereinbefore
referred to.
This bond is redeemable at the option fo the city at any time
there are funds to the credit of said special improvement district
fund for the redemption thereof, and in the manner provided for the
redemption of the same.
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 ordin-
ances of the city of Kalispell., Montana, relating to the issuance
thereof.
Dated at Kalispell, Montana, this day of 1975.
CITY OF - r.�AIIISPELII, MONTANA
By
urence G. B36ineby, Adyor
V -7/
Registered at the office of the City Treasurer of Kalispell,
Montana, this day of 1975.
ty Treasurer