HomeMy WebLinkAboutResolution 3781 Award bond sale for SID 683, W. Babcock
COMMISSION RESOLUTION NO. 3781
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN,
MONTANA, RELATING TO $1,372,000 SPECIAL IMPROVEMENT DISTRICT NO.
683 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 7,2005 adopted Resolution No. 3773 providing for
the public sale of $1 ,372,000 Special Improvement District No. 683 Bonds (the "Bonds") to finance the
costs of certain local improvements to be undertaken in or for the benefit of Special Improvement District
No. 683. 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, three 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 & 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 February 23, 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 Commission f the City of Bozeman, Montana, at a
regular session thereof held on the 7th day of March 2
L. ETRARO, Mayor
ATTEST:
riJ?sl~
Clerk of the Commission
APPROVED AS TO FORM:
~ (7."e<.f(
TIMOTHY A. COOPER -
Acting City Attorney
Sale Date: 3/07/05 $1,372,000
20 Bond Buyer Index: 4.50% (3103/05) City of Bozeman, Montana
Special Improvement District No. 683 Bonds, Series 2005
(West Babcock Project)
BID SUMMARY SHEET
Received Total ($21,952.00 Less
True
Name Good Faith Interest From max) Plus Premium
Net Dollar Interest
of Bidder Deposit ( ./) March 15.2005 Discount (if any) Interest
Cost Cost ("TIC")
1) Dt!lJn ~StYuJu 1J1~. Sau __ $ 577, 51g.3g $ ;1,551 t'XJ $-i9- $ 59 'Z 0'79.
3'g' ~ :l4-79S"l;o
.
&'ot.
2) ?ltA/'?aAcL ~~ ,..z;;~. ~ $ {p05,9/9. tJ3 $ /{p, ~ t./. dO $ -@- $ /;22.,393.~3 ~.y//3
%
~' . , .
.DA- Var/d>lJYt- ~ $ ss-i 2'11. K5" /)(J $ 575. 3'1;. ~
-I. tJ&1~S" %
3) $ ~ 58"GJ. $ ~
, ,
13ft;{
4) $ $ $ $
%
These bids were opened and read before the undersigned at 11 :00 a.m. on Monday, March 7,2005.
(j~ ;/ "'~
Robin L. Sullivan, Clerk of the Commission