HomeMy WebLinkAboutResolution 4794 Selecting a Bond Purchase Proposal for Northeast Urban Renewal District Bonds C6
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RESOLUTION NO. 4794
RESOLUTION SELECTING A BOND PURCHURSE PROPOSAL FOR NORTHEAST
F
URBAN RENEWAL DISTRICT BONDS AND ENTER INTO NEGOTIATIONS FOR
THE PURCHASE OF TAX INCREMENT URBAN RENEWAL REVENUE BONDS
WHEREAS,on November 21,2016,the Bozeman City Commission approved Resolution
4732 calling for a public hearing on December 19, 2016 to approve certain public infrastructure
projects in the Northeast Urban Renewal District as urban renewal projects and to finance the iti
projects through the issuance of tax increment urban renewal bonds;and making a reimbursement
declaration in the event that tax-exempt bond proceeds reimburse original expenditures of the City
and
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s
WHEREAS,on December 19,2016,the Bozeman City Commission approved Resolution
4734 approving certain projects as urban renewal projects in the Northeast Urban Renewal District,
approving the issuance of tax increment urban renewal revenue bonds to pay costs thereof, and
preliminarily authorizing the issuance and private negotiated sale of bonds and authorizing the
process for selecting a purchaser thereof; and
WHEREAS,solicitation for purchase of the Northeast Urban Renewal District Bonds was
published in the journal of record on Februaiy 19,March 5 and March 19,2017;and
WHEREAS, the deadline for submitting proposals was 5 pm MST on March 27, 2017;
and
WHEREAS, one(1)proposal was received by the published deadline; and v
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WHEREAS, all proposals received at or prior to the published deadline were evaluated by
staff and bond counsel.
NOW, THEREFORE, BE IT RESOLVED by the City Commission (the
"Commission") of the City of Bozeman(the"City"),Montana;
Section 1
The Bozeman City Commission selects Big Sky Western Bank, Bozeman, Montana to
enter into negotiations for the purchase of tax increment urban renewal revenue bonds.
PASSED AND APPROVED by the City Commission of the City of Bozeman, Montana,
at a regular session thereof held on the Yd day of April, 2017.
CARSON TAYLOR
Mayor
ATTEST:
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ROBIN CROUGrI'I ; _' " , _. •
City Clerk
APPR XDAS TO FORM:
G G SULLIVAN
City Attorney