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Home My WebLink AboutResolution 3900 SID 684 Bonds CERTIFICATE AS TO RESOLUTION AND ADOPTING VOTE I, the undersigned, being the duly qualified and acting recording officer of the City of Bozeman, Montana (the "City"), hereby certify that the attached resolution is a true copy of a Resolution entitled: "A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN, MONTANA, RELATING TO $1,376,869 SPECIAL IMPROVEMENT DISTRICT NO. 684 BONDS; AWARDING THE SALE THEREOF AND APPROVING CERTAIN MATTERS WITH RESPECT THERETO" (the "Resolution"), on file in the original records of the City in my legal custody; that the Resolution was duly adopted by the City Commission of the City at a regular meeting on March 27, 2006, and that the meeting was duly held by the City Commission and was attended throughout by a quorum, pursuant to call and notice of such meeting given as required by law; and that the Resolution has not as of the date hereof been amended or repealed. I further certify that, upon vote being taken on the Resolution at said meeting, the following Commissioners voted in favor thereof: Commissioner RUDD. Commissioner Kirchhoff, Commissioner Jacobson. Commissioner Becker and Mavor Krauss ; voted against the same: None ; abstained from voting thereon: None or were absent: None WITNESS my hand and seal officially this 28th day of March, 2006. (SEAL) c~ J.L{l~ COMMISSION RESOLUTION NO. 3900 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN, MONTANA, RELATING TO $1,588,000 SPECIAL IMPROVEMENT DISTRICT NO. 684 BONDS; AWARDING THE SALE THEREOF AND APPROVING CERTAIN MATTERS WITH RESPECT THERETO. BE IT RESOLVED by the City Commission (the "Commission") of the City of Bozeman, Montana (the "City"), as follows: 1. This Commission on February 28, 2006 adopted Commission Resolution No. 3893 providing for the public sale of $1 ,376,869 Special Improvement District No. 684 Bonds (the "Bonds") to finance the costs of certain local improvements to be undertaken in or for the benefit of Special Improvement District No. 684. Notice of the sale has been duly published in accordance with Montana Code Annotated, Sections 7 -12~4204, 7 ~ 7 ~4252 and 17 ~5-1 06. Pursuant to the notice of sale, one sealed bid for the purchase of the Bonds was received at or before the time specified for receipt of bids. The bid has been opened and publicly read and considered, and the purchase price, interest rates and true interest cost under the terms of the bid have been determined. 2. The bid of D.A.Davidson & Co., of Great Falls, Montana, (the "Purchaser") , attached as Exhibit A, to purchase the Bonds of the City, is hereby determined to comply with the notice of sale, and to be the lowest, most reasonable bid for the purchase of the Bonds. The bid of the Purchaser is hereby accepted by the Commission and the sale of the Bonds is hereby awarded to the Purchaser. The bid security of the Purchaser shall be retained pending delivery of the payment for the Bonds and the bid security of all other bidders shall be promptly returned. 3. The City Manager and City Clerk are hereby authorized and directed to execute a purchase contract with the Purchaser with respect to the Bonds. 4. The Preliminary Official Statement relating to the Bonds, dated March 13, 2006, is hereby approved. The officers of the City are hereby authorized and directed to execute such certificates as may be appropriate concerning the accuracy, completeness and sufficiency of the Official Statement. 5. resolution. This Commission shall prescribe the form and security for the Bonds in a subsequent PASSED AND ADOPTED by the City Commission of the City of Bozeman, Montana, at a regular session thereof held on the 27th day of March 2006. ATTEST: ~~(~ JEF Y K US Mayor ~d~ R IN L. SULLIVAN City Clerk EXHIBIT "A" OFFICIAL BID FORM $1,376,869 CITY OF BOZEMAN, MONTANA SPECIAL IMPROVEMENT DISTRICT NO. 684 BONDS, SERIES 2006 (Durston Road Project) City Commission City of Bozeman, Montana 411 East Main Street P.O. Box 1230 Bozeman, Montana 59771-1230 Pursuant to the provisions contained in the Notice of Bond Sale dated February 28, 2006, (the "Notice of Sale") for the purchase of $1,376,869 principal amount of your City of Bozeman, Montana, Special Improvement District No. 684 Bonds, Series 2006 (Durston Road Project} (the "Bonds"), we hereby offer to purchase all of the Bonds from you at the price of$ I; 696 fJ.f7. /0 , which amount is not less than $1,354,8~8.40%)(fOr a discount of $22,029.90), plus accrued interest, if any, plus a premium of $ , the Bonds to bear interest at the rates set forth opposite the years and amounts as follows: Principal Interest Principal Interest Year Amount Rate Year Amount Rate 2007 $71,869 3?O % 2017 $70,000 ~:35"' % 2008 75,000 '? eo % 2018 70,000 *% 2009 75,000 ?.- 'l:t; % 2019 70,000 tf Jl % 2010 75,000 S, '70 % 2020 70,000 ~% 2011 75,000 Y'.- ocJ % 2021 70,000 . % 2012 75,000 ~ 05" % 2022 70,000 fj !PO % 2013 75,000 '/,./0 % 2023 70,000 ~% 2014 75,000 "-2.0 % 2024 70,000 , % 2015 75,000 ~% 2025 70,000 . % 2016 75,000 .3 % The following is submitted not as part of this bid, but for informational purposes, and is subject to verification prior to award: Total interest from April 15, 2006 to maturity .................... $ hi ~ J 73. '7 s:- Plus discount, if any ............................................................ $ p~ tJ;;< ~ "/tCJ Less premium, if any........................................................... $ -67 Total Dollar Interest Cost .................................................... $ (p ~ ~ ..:2CJ 3. e 5: True Interest Cost ("TIC") ................................................... ~ 5P3<J/slt3 % Enclosed herewith is a good faith deposit in the form oflawful money ofthe United States, cashier's check, certified check, bank money order or a bank draft drawn and issued by a federally chartered or state chartered bank insured by the Federal Deposit Insurance Corporation or a financial surety bond in the amount of$27 ,537.38 payable to the order of the "City of Bozeman, Montana" to be held and disposed of by you as provided in the Notice of Sale. This bid must be accepted in its entirety within the time provided in the Notice of Sale and if not so accepted by you within such time shall be deemed to have been rejected. This bid shall remain irrevocable until the expiration of such time unless sooner rejected by you. Each of the Bidders listed below: (i) acknowledges receipt of the Preliminary Official Statement dated March 13,2006 and the Notice of Sale dated February 28, 2006 (ij) represents and warrants that it has full power and authority to make this bid and to purchase the Bonds if this bid is accepted; (iii) agrees that the validity and interpretation of this bid shall be governed by the laws of the State of Montana; and (v) acknowledges that bids may be transmitted electronically through parityTM in accordance with the terms and conditions of the Notice of Sale and that to the extent any instruction or directions set forth in Parity ™ conflict with the Terms and Conditions of Sale, the terms ofthe Terms and Conditions of Sale shall control. In the event the Bidders are acting through a Representative(s), each of the undersigned Representative(s) warrants that it has the necessary power and authority to act on behalf of each of the Bidders. Respectfully submitted this 2 ih day of March, 2006, ()o.DaJ)IJAD)~, ~ G, JrJ. 01n~ C-J~D(M Vf BIDDER: BY: As Representative(s) of the persons, firms and/or corporations named below: SELLING GROUP/ SYNDICATE: 1. )tr 3. 2. 4. Accepted for and on behalf of the City of Bozeman, Montana as of March 27, 2006: BY'~ . Je raus, ayo tL I~ ATTEST: ~ ~ ~.t..-' Robin L. Sullivan, Clerk of the Commission