HomeMy WebLinkAboutResolution 3791 Award bid for pooled SID bonds, 675, 676, 677, 678
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COMMISSION RESOLUTION NO. 3791
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN,
MONTANA, RELATING TO $3,001,000 POOLED SPECIAL IMPROVEMENT
DISTRICT BONDS, SERIES 2005 (SPECIAL IMPROVEMENT DISTRICT NOS. 675,
676, 677, AND 678); 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 March 7, 2005 adopted Resolution No. 3780 providing for the
public sale of $3,001,000 Pooled Special Improvement District Bonds, Series 2005 (Special Improvement
District Nos. 675, 676, 677, and 678) (the "Bonds") To finance the costs of certain local improvements
to be undertaken in or for the benefit of Special Improvement District Nos. 675, 676, 677, and 678.
Notice of the sale has been duly published in accordance with Montana Code Annotated, Sections
7 -12-4204, 7-7-4252 and 17-5-106. Pursuant to the notice of sale, two sealed bids for the purchase of
the Bonds were received at or before the time specified for receipt of bids. The bids have been opened
and publicly read and considered, and the purchase price, interest rates and true interest cost under the
terms of each bid have been determined.
2. The bid of D.A.Davidson and Company, of Bozeman, 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 Clerk of the Commission 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 April 5, 2005, 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. This Commission shall prescribe the form and security for the Bonds in a subsequent
resolution.
PASSED AND ADOPTED by the City Commissi of the City of Bozeman, Montana, at a
regular session thereof held on the 18th day of April 20
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ATTEST:
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ROBIN L. SULLIVAN
Clerk of the Commission
APPROVED A TO-FORM:
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