HomeMy WebLinkAboutResolution 4936 Submitting the Question to the Voters for General Obligation Bonds for a Bozeman Public Safety Center RESOLUTION NO. 4936
A RESOLUTION OF THE CITY COMMISSION SUBMITTING TO THE QUALIFIED
ELECTORS OF THE CITY OF BOZEMAN, MONTANA,THE QUESTION OF ISSUING
GENERAL OBLIGATION BONDS FOR THE BOZEMAN PUBLIC SAFETY CENTER
IN THE AGGREGATE PRINCIPAL AMOUNT OF UP TO THIRTY-SIX MILLION NINE
HUNDRED SIXTY-FIVE THOUSAND AND NO/100 DOLLARS ($36,965,000.00) FOR
THE PURPOSE OF PAYING,WITH OTHER AVAILABLE FUNDS OF THE CITY,THE
COSTS OF DESIGNING, CONSTRUCTING, EQUIPPING AND FURNISHING ON
CITY-OWNED LAND AT THE CORNER OF EAST OAK STREET AND NORTH ROUSE
AVENUE A NEW BOZEMAN PUBLIC SAFETY CENTER, TO INCLUDE THE CITY'S
FIRE STATION #1, POLICE DEPARTMENT HEADQUARTERS, MUNICIPAL
COURTS, PROSECUTION, VICTIM SERVICES, AND OTHER JUSTICE SERVICES,
AND ASSOCIATED SITE IMPROVEMENTS, AND COSTS ASSOCIATED WITH THE
SALE AND ISSUANCE OF THE BONDS FOR THE BOZEMAN PUBLIC SAFETY
CENTER
BE IT RESOLVED by the City Commission (the "Commission") of the City of
Bozeman, Montana(the "City") as follows:
Section 1. Recitals.
1.01. Authorization. A city is authorized pursuant to Section 7-7-4221, Montana Code
Annotated, upon approval of the electorate of the city,to issue general obligation bonds pledging
the general credit of the city for the purpose of designing, constructing and equipping public
buildings,provided that such indebtedness will not cause the total indebtedness of the city to
exceed 2.5% of the total assessed value of taxable property of the city, determined as provided in
Section 15-8-111, Montana Code Annotated, ascertained by the last assessment for State and
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Resolution 4936,Bozeman Public Safety Facility Ballot Language
county taxes. A city council or commission is authorized pursuant to Section 7-7-4223, Montana
Code Annotated,to call a bond election by adopting a resolution to that effect.
1.02. Proposed Project. The Commission determines there should be submitted to the
electors of the City qualified to vote at bond elections the question of whether the Commission
shall be authorized to sell and issue bonds of the City in one or more series to obtain funds for
the purpose of paying, with other available funds of the City, the costs of designing,
constructing, equipping and furnishing on City-owned land at the corner of East Oak Street and
North Rouse Avenue a new Bozeman Public Safety Center, to include the City's fire station#1,
police department headquarters, municipal courts,prosecution, victim services, and other justice
services, and associated site improvements, and costs associated with the sale and issuance of the
bonds for the Bozeman Public Safety Center, which bonds shall bear interest at rates to be
determined at the time of sale, payable semiannually over a term not to exceed twenty years for
each series of bonds, and subject to redemption as required by law.
1.03. Debt Limitation. The Commission has determined that the issuance of general
obligation bonds up to the total principal amount of Thirty-Six Million Nine Hundred Sixty-Five
Thousand and No/100 Dollars ($36,965,000.00) will not cause the City to exceed its general
obligation indebtedness limitation, which is currently calculated to be $168,633,782 (i.e., 2.50%
x $6,745,351,312).
1.04. Election. The Commission has determined there should be submitted to the
electors of the City qualified to vote at bond elections the question of whether the Commission
shall be authorized to issue and sell general obligation bonds of the City to obtain funds for the
purpose described in the ballot question.
1.05. Bonds. It is the judgment of the Commission that the total principal amount of up
to Thirty-Six Million Nine Hundred Sixty-Five Thousand and No/100 Dollars ($36,965,000.00)
in general obligation bonds, together with other moneys available to the City, will be necessary
to carry out the purpose set forth Section 1.02 above. It is also the judgment and determination
of the Commission that such general obligation bonds may be issued in multiple series, each
series payable during a term not to exceed twenty (20) years.
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Resolution 4936,Bozeman Public Safety Facility Ballot Language
Section 2. Calling of the Election. The City Commission hereby calls and directs that a
special City election be held in conjunction with the general election on November 6, 2018, for
the purpose of voting on the following question:
Shall the City Commission of the City of Bozeman, Montana(the"City") be
authorized to sell and issue general obligation bonds of the City for the Bozeman
Public Safety Center in one or more series in an aggregate principal amount not to
exceed Thirty-Six Million Nine Hundred Sixty-Five Thousand and No/100
Dollars ($36,965,000.00) bearing interest at rates to be determined at the time of
sale, payable semiannually over a term not to exceed twenty years for each series
of bonds, for the purpose of paying, with other available funds of the City, the
costs of designing, constructing, equipping and furnishing on City-owned land at
the corner of East Oak Street and North Rouse Avenue a new Bozeman Public
Safety Center,to include the City's fire station#1,police department
headquarters, municipal courts,prosecution, victim services, and other justice
services, and associated site improvements, and costs associated with the sale and
issuance of the bonds for the Bozeman Public Safety Center?
Section 3. Conduct of Election. All qualified electors of the City shall be entitled to vote
at the bond election. The City Clerk is hereby authorized and directed to give notice of the call
and details of this election to the Gallatin County Election Administrator as soon as practicable
and in any event on or the before the date required by the Gallatin County Election
Administrator. The Gallatin County Election Administrator is requested to give notice of the
close of registration and thereafter prepare printed lists of the qualified electors in the City
entitled to vote in the election in the City and to conduct the election in the form and manner
prescribed by law.
Section 4. Notice of Election. The City Clerk or the Gallatin county Election
Administrator, as appropriate, is hereby authorized and requested to cause notice of the call and
holding of the election to be given by publishing notice at least three times no earlier than 40
days and no later than 10 days before the election in the Bozeman Daily Chronicle, a newspaper
of general circulation in Gallatin County. The notice of election as published shall read
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Resolution 4936,Bozeman Public Safety Facility Ballot Language
substantially as shown on Exhibit A hereto (which is incorporated by reference and made a part
hereof).
Section 5. Form of Ballot. The ballot shall be printed in substantially the following
form:
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Resolution 4936,Bozeman Public Safety Facility Ballot Language
OFFICIAL BALLOT
CITY OF BOZEMAN, MONTANA
BOZEMAN PUBLIC SAFETY CENTER
GENERAL OBLIGATION BOND ELECTION
NOVEMBER 6, 2018
INSTRUCTIONS TO VOTERS: Completely fill in the oval using a blue or black
ink pen before the words "PUBLIC SAFETY CENTER BONDS—YES"if you
wish to vote for the Public Safety Center bond issue; if you are opposed to the
Public Safety Center bond issue, completely fill in the oval using a blue or black
ink pen before the words "PUBLIC SAFETY CENTER BONDS—NO."
Shall the City Commission of the City of Bozeman, Montana(the"City") be
authorized to sell and issue general obligation bonds of the City for the Bozeman
Public Safety Center in one or more series in an aggregate principal amount not to
exceed Thirty-Six Million Nine Hundred Sixty-Five Thousand and No/100 Dollars
($36,965,000.00)bearing interest at rates to be determined at the time of sale,
payable semiannually over a term not to exceed twenty years for each series of
bonds, for the purpose of paying, with other available funds of the City,the costs of
designing, constructing, equipping and furnishing on City-owned land at the corner
of East Oak Street and North Rouse Avenue a new Bozeman Public Safety Center,
to include the City's fire station#1, police department headquarters, municipal
courts,prosecution, victim services, and other justice services, and associated site
improvements, and costs associated with the sale and issuance of the bonds for the
Bozeman Public Safety Center?
CD PUBLIC SAFETY CENTER BONDS—YES
(D PUBLIC SAFETY CENTER BONDS—NO
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Resolution 4936,Bozeman Public Safety Facility Ballot Language
Section 6. Notice to County Election Administrator. A copy of this Resolution will be
provided to the Gallatin County Election Administrator as soon as possible after its adoption and
approval in order to inform the Election Administrator of the details of the special election and
the pertinent requests and authorizations as to the conduct of the special election.
7. Reimbursement Expenditures.
(a) For purposes of this Section 7, "project"means the Bozeman Public Safety
Center. The United States Department of Treasury has promulgated final regulations
governing the use of proceeds of tax-exempt bonds, all or a portion of which are to be
used to reimburse the City for project expenditures paid by the City prior to the date of
issuance of such bonds. Those regulations (Treasury Regulations, Section 1.150-2) (the
"Regulations")require that the City adopt a statement of official intent to reimburse an
original expenditure not later than 60 days after payment of the original expenditure. The
Regulations also generally require that the bonds be issued and the reimbursement
allocation made from the proceeds of the bonds within 18 months (or three years, if the
reimbursement bond issue qualifies for the "small issuer" exception from the arbitrage
rebate requirement) after the later of(i)the date the expenditure is paid or (ii)the date the
project is placed in service or abandoned, but(unless the issue qualifies for the "small
issuer" exception from the arbitrage rebate requirement) in no event more than three
years after the date the expenditure is paid. The Regulations generally permit
reimbursement of capital expenditures and costs of issuance of the bonds.
(b) Other than (i) expenditures to be paid or reimbursed from sources other than
the bonds, (ii) expenditures permitted to be reimbursed under the transitional provision
contained in Section 1.150-20)(2) of the Regulations, (iii) expenditures constituting
preliminary expenditures within the meaning of Section 1.1 50-2(f)(2) of the Regulations,
or (iv) expenditures in a"de minimus" amount (as defined in Section 1.150-2(f)(1) of the
Regulations), no expenditures for a project within the scope of this resolution have been
paid by the City before the date 60 days before the date of adoption of this resolution.
(c) The City reasonably expects to reimburse the expenditures made for costs of
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Resolution 4936,Bozeman Public Safety Facility Ballot Language
such a project out of the proceeds of bonds in an estimated maximum aggregate principal
amount of up to Thirty-Six Million Nine Hundred Sixty-Five Thousand and No/100
Dollars ($36,965,000.00) after the date of payment of all or a portion of the costs of such
a project. All reimbursed expenditures shall be capital expenditures, a cost of issuance of
the bonds or other expenditures eligible for reimbursement under Section 1.150-2(d)(3)
of the Regulations.
(d) As of the date hereof, there are no City funds reserved, allocated on a long-
term basis or otherwise set aside (or reasonably expected to be reserved, allocated on a
long-term basis or otherwise set aside)to provide permanent financing for the
expenditures related to such a project, other than pursuant to the issuance of the bonds.
The statement of intent contained in this resolution, therefore, is determined to be
consistent with the City's budgetary and financial circumstances as they exist or are
reasonably foreseeable on the date hereof.
(e) The City's City Finance Director shall be responsible for making the
"reimbursement allocations" described in the Regulations, being generally the transfer of
the appropriate amount of proceeds of the bonds to reimburse the source of temporary
financing used by the City to make prior payment of the costs of the project. Each
allocation shall be evidenced by an entry on the official books and records of the City
maintained for the bonds or the project and shall specifically identify the actual original
expenditure being reimbursed.
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Resolution 4936, Bozeman Public Safety Facility Ballot Language
PASSED,ADOPTED,AND APPROVED by the City Commission of Bozeman,
Montana,this 23rd day of July,2018.
CYNTHIA . D U
Mayor
ATTEST:
ROBIN CROUGH
City Clerk �,•, ��b3 .
yLL9TIN CO�10 APPROVED AS TO FORM:
614G L1VAN
City Attorney
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Resolution 4936,Bozeman Public Safety Facility Ballot Language
EXHIBIT A
NOTICE OF GENERAL OBLIGATION BOND ELECTION
CITY OF BOZEMAN, MONTANA
BOZEMAN PUBLIC SAFETY CENTER
NOVEMBER 6, 2018
NOTICE IS HEREBY GIVEN by the City Commission(the "Commission") of the City
of Bozeman, Montana(the "City"), that pursuant to a certain resolution duly adopted at a regular
meeting of the Commission on July 23, 2018, a special city election of the registered voters of
the City will be held in conjunction with the general election on November 6, 2018, for the
purpose of voting on the following question:
Shall the City Commission of the City of Bozeman, Montana (the "City") be
authorized to sell and issue,general obligation bonds of the City for the Bozeman
Public Safety Center in one or more series in an aggregate principal amount not to
exceed Thirty-Six Million Nine Hundred Sixty-Five Thousand and No/100 Dollars
($36,965,000.00) bearing interest at rates to be determined at the time of sale,
payable semiannually over a term not to exceed twenty years for each series of
bonds, for the purpose of paying, with other available funds of the City, the costs
of designing, constructing, equipping and furnishing on City-owned land at the
corner of East Oak Street and North Rouse Avenue a new Bozeman Public Safety
Center, to include the City's fire station #1, police department headquarters,
municipal courts, prosecution, victim services, and other justice services, and
associated site improvements,and costs associated with the sale and issuance of the
bonds for the Bozeman Public Safety Center?
The polls will be open between the hours of 7:00 a.m. and 8:00 p.m., on
November 6, 2018, and the polling places for the election will be the normal polling
places for City residents during a general election.
Close of registration is October 9, 2018. Absentee ballots may be obtained at the
office of the Gallatin County Election Administrator at Gallatin County Courthouse, 311
West Main, Bozeman, Montana, from October 9, 2018 until 12:00 noon,November 5,
2018. Electors who miss the close of registration deadline may register late at the office
of the Gallatin County Election Administrator at Gallatin County Courthouse, 311 West
Main, Bozeman, Montana, from October 10, 2018 through 12:00 p.m. (noon) on
November 5, 2018, and on November 6, 2018 from 7:00 a.m. through 8:00 p.m.
DATED this day of , 2018.
/s/Charlotte Mills
Gallatin County Election Administrator
Publish: October 14, 2018, October 21, 2018, and October 28, 2018
A-1
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CERTIFICATE AS TO RESOLUTION AND ADOPTING VOTE
I, the undersigned, being the duly qualified and appointed City Clerk of the City of
Bozeman, Montana (the "City"), hereby certify that the attached resolution is a true copy of
Resolution No. 4936 entitled: "A RESOLUTION OF THE CITY COMMISSION
SUBMITTING TO THE QUALIFIED ELECTORS OF THE CITY OF BOZEMAN,
MONTANA, THE QUESTION OF ISSUING GENERAL OBLIGATION BONDS FOR
THE BOZEMAN PUBLIC SAFETY CENTER IN THE AGGREGATE PRINCIPAL
AMOUNT OF UP TO THIRTY-SIX MILLION NINE HUNDRED SIXTY-FIVE
THOUSAND AND NO/100 DOLLARS ($36,965,000.00) FOR THE PURPOSE OF
PAYING, WITH OTHER AVAILABLE FUNDS OF THE CITY, THE COSTS OF
DESIGNING, CONSTRUCTING, EQUIPPING AND FURNISHING ON CITY-OWNED
LAND AT THE CORNER OF EAST OAK STREET AND NORTH ROUSE AVENUE A
NEW BOZEMAN PUBLIC SAFETY CENTER, TO INCLUDE THE CITY'S FIRE
STATION #1, POLICE DEPARTMENT HEADQUARTERS, MUNICIPAL COURTS,
PROSECUTION, VICTIM SERVICES, AND OTHER JUSTICE SERVICES, AND
ASSOCIATED SITE IMPROVEMENTS,AND COSTS ASSOCIATED WITH THE SALE
AND ISSUANCE OF THE BONDS FOR THE BOZEMAN PUBLIC SAFETY CENTER"
(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 at a regular meeting on July 23, 2018, 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
Commission Members voted in favor thereof: VON-A Ag , prg2AJ�Dy NIV-1n 1.
Nt�(.t�nn�nrssiawn9 rs . y r�ASS. , those issioners who voted against the same: .
WITNESS my hand and seal officially this 241h day of July,2018.
.. . . .
Robin Crough U• �z ;
City Clerk
774., 1883
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