HomeMy WebLinkAboutResolution 3295 Affirming pledge of SID Revolving Fund to securities of 664 bond
COMMISSION RESOLUTION NO. 3295
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN,
MONTANA, RELATING TO $150,000 SPECIAL IMPROVEMENT DISTRICT NO.
664 BONDS; AFFIRMING THE PLEDGE OF THE REVOLVING FUND TO THE
SECURITY THEREOF.
BE IT RESOLVED by the City Commission (the "Commission") of the City of Bozeman,
Montana (the "City"), as follows:
Section 1. Recitals.
(a) Notice of issuance of the Special Improvement District No. 664 Bonds (the
"Bonds") secured by the Special Improvement District Revolving Fund of the City (the "Revolving
Fund") was duly published in all respects in accordance with law, and on June 7, 1999, this
Commission conducted a public hearing on the issuance of the Bonds secured by the Revolving
Fund. The meeting of this Commission at which this resolution was adopted is the first regular
meeting of the Commission following the expiration of the period ended 1 5 days after the first date
of publication of the notice of issuance of the Bonds secured by the Revolving Fund (the "Protest
Period").
(b) At the public hearing, all persons were given an opportunity to speak for or
against the pledge of the Revolving Fund to the Bonds.
Section 2. Findinas and Determination to Pledae the Revolvina Fund. In the Resolution
of Intention to Create the District, adoPted on October 6, 1997, this Commission found it to be in
the public interest, and in the best interest of the City and Special Improvement District No. 664
(the "District"), to secure payment of principal of and interest on the Bonds by the Revolving Fund
and authorized the City to enter into the undertakings and agreements authorized in the Act in
respect of the Bonds, based on the factors required to be considered under Section 7-12-4225(4)
of the Act. Those findings and determinations were ratified and confirmed in the resolution adopted
by this Commission on June 15, 1998, creating the District, and taking into consideration any
comments made at the public hearing on June 7, 1999, those findings and determinations are
hereby ratified and confirmed. It is hereby covenanted and recited that the City has the power
under the Act to pledge the Revolving Fund to payment of the principal of and interest on the
Bonds.
PASSED AND ADOPTED by the City Commission of the City of Bozeman, Montana, this
7th day of June, 1999.
ATTEST: ~~,~
ALF M. STIFF, Mayor
~J~
ROBIN L. SULLIVAN
Clerk of the Commission
APPROVED AS TO FORM:
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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: "RESOLUTION RELATING TO $150,000 SPECIAL IMPROVEMENT
DISTRICT NO. 664 BONDS; AFFIRMING THE PLEDGE OF THE REVOLVING FUND TO THE
SECURITY THEREOF" (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 June 7, 1999, 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:
; voted against the
same: ,
abstained from voting thereon:
; or were absent:
WITNESS my hand and seal officially this day of June, 1999.
[SEAL]
Clerk of the Commission
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