Resolution 3057 - Bids and Award Sale - Sewage System Revenue BondsCouncil Member Lauren G. Gm=o introduced the following resolution
and moved its adoption: RESOLUTION NO. 3057
RESOLUTION RECEIVING BIDS AND AWARDING SALE
OF $445,000 -.SEWER.- SYSTEM REVENUE BONDS
BE IT RESOLVED bythe City Council of the City of Kalispell,
Montana, as followst
Section l.- Authorization and Sale.
1.01. Notice of sale of $445,000'Sewe3?,� System Revenue Bonds,
to be issued pursuant to Title 11, Chapter 24, of the Revised Codes
of Montana 1947, as amended, has been duly purlbished and the Council
has publicly'received, opened and considered all sealed bids pre-
sented in conformity with the notice. The'most.favorable of.such
bids is ascertained to be that of Piper, Jaffmy & Hopwood and Paln, Kal=n.& Quail
and associates, to purchase the�'bonds at a price of par plus accrued
interest, with a net interest cost.to' the City of 6.6743 percent for
the entire issue.
Piper� Jaffray & Hopwood and
1.02. Sale of the bonds is hereby awarded to Dain, Kalnlan & quail,
and associa. ' tes. The Mayor and City Clerk are authorized and directed
to execute in duplica:te a contract on the part of the City for the
sale -of the bonds in accordance with the proposal described in Sep-
tion 1.01, and to'deliver a duplicate to the purchasers. The City
Clerk is directed to retain.the purchasers' check securing . the con-.
tract of sale until the.bonds are delivered and - the purchase price
is paid, and to return the checks securing'other bids.td the respec-
tive bidders.
1.03. The Mayor and City Clerx are further authorized an,
directed to enter into a written agreement with a suitable bank
selected to -serve a's 'paying agenf-�
" 0, payments of principal of and
interest,on th o ds, Such wr/itte: agreement shall be entered
into as soonx ��Iprna�cticable pAor t the delivery of the bonds and
shall'sez �orth.' :0h add]-tio 7to otv-._r provisions deemed necessary
and app:r ri te he payin7ag;
the Ci fees and charges, to. be paid by
A
N93!$ia E. Happo Mayor
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The motion'for-the adoption of the foregoing resolu�ion
was duly seconded by member. Everit A. Sliter, and upon vote being
'taken thereon, the following Members voted in favor thereof:
Councilmen Dale W. William ; Robert G. Allen; Forrest W. Daley, Lauren G.* Granmo,'
Robert G. Olson,;.Francis O'Boyle; John C. Schwartz; and Everit A, Sliter,
and the following voted against the same: none,
whereupon.theresolution was aec-Lared duly passed.and adopted and
was signed by the Mayor and attested by the City Clerk., June 21, 1976.
I, the undersigned, City Clerk of-thb City of Kalispell ��e ify that the foregoing� is.,
a true copy of the Resolution duly,�apsed by the City C il of t City of lispe�,I,
I
Montana at a regular meeting held/ June 21, 1976�1
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