HomeMy WebLinkAboutResolution 3050 Award sale of $5 million GO bonds
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" COMMISSION RESOLUTION NO. 3050
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN.
MONTANA. RELATING TO $5.000.000 GENERAL OBLIGATION BONDS. SERIES
1995; AWARDING THE SALE THEREOF AND APPROVING THE OFFICIAL
STATEMENT RELATING THERETO.
NOW. THEREFORE. BE IT RESOLVED by the City Commission of the City of Bozeman.
Gallatin County, Montana (the "City"), as follows:
1 . This Commission on March 20, 1995, adopted a resolution providing for public sale
of $5,000,000 General Obligation Bonds, Series 1995 (the "Bonds") to finance the costs of a
Project described therein. Notice of the sale has been duly published in accordance with Montana
Code Annotated, Sections 7-7-4252 and 17-5-106. Pursuant to the notice of sale, six (6) 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, in Great Falls, Montana, (the "Purchaser")
attached as Exhibit" A", to purchase the Bonds is hereby determined to comply with the Notice
of Sale and to be the most favorable bid received for the purchase of Bonds. The bid of the
Purchaser is hereby accepted and the sale of the Bonds is hereby awarded to the Purchaser. The
bid security of the Purchaser shall be retained pending payment for the Bonds and the bid security
of all other bidders shall be returned forthwith.
3. The Mayor and the Clerk of the Commission are hereby authorized and directed to
execute on behalf of the City a contract for sale of the Bonds with the Purchaser.
4. This Commission shall prescribe the form and security for the Bonds in a subsequent
resolution.
PASSED AND ADOPTED by the City Commission of the City of Bozeman, Montana, at a
special session thereof held on the 4th day of April 1995.
J
ATTEST:
()~ ;/ ~
ROBIN L. SULLIVAN
Clerk of the Commission
APPROVED AS TO FORM:
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EXHIBIT
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QlrFI.CI1\.L BIDEQRM
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$5,000,000
General Obligation Bonds, Series 1995
City of Bozeman, Montana
City Commission
City of Bozeman
411 East Main
Bozeman, Montana 59715
Reference is made to your "Official Notice of Sale" and your "Preliminary OffIcial Statement" dated March 17, 1995,
pertaining thereto, both of which constitute a part hereof, concerning the $5,000,000 General Obligaiton Bonds, Series
1995, dated as of April 15, 1995. For your legally issued bonds, as described in the Notice, we will pay you the
principal amount thereof and accrued interest thereon to date of their delivery to us from April 15, 1995, plus cash
plt:ullum of ~ 0 , fc'! bOl.1ds m~turing July 1, and bearing interest as follows:
Year Amount Interest Year Amount Interest Year Amount Interest
1996 $ 85,000 ~ $2003 $230,000 S. OlJ % 2009 $320,000 ,g": g'o%
1997 155,000 ? tJ~ % 2004 240,000 ~ 2010 335,000 ~%
1998 170,000 700% 2005 255,000 ~ 2011 355,000 ~
1999 180,000 ~% 2006 270,000 ~% 2012 380,000 ~lP!o
2000 195,000 Sfi2. % 2007 285,000 ~% 2013 400,000 5Jjgo
2001 205,000 4('"fb % 2008 300,000 ~% 2014 425,000 ~~
2002 215,000 ~%
The City of Bozeman has been provided a certified check, cashier's check, bank money order or bank draft drawn on
and issued by a federally or state chartered bank or a financial surety bond in the amount of $100,000 payable to the
order of "City of Bozeman" which is submitted in accordance with the terms of the Notice of Sale and which will be
returned to the undersigned if the bid is not accepted. This bid must be accepted in its entirety by you 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.
In submitting this bid, the undersigned bidder (i) acknowledges receipt of the Preliminary Official Statement dated
March 17, 1995, and Notice of Sale, (ii) represents and warrants that the bidder has full authority to offer this bid and to
puIchase the Bv~ds, if t.~~ bid is accepted; (iii) represents and warrants that the undersigned has the necessary power and
authority to act on our behalf; and (iv) agrees that the validity and interpretation of this bid shall be govemeaby the laws
of the State of Montana.
Repectfully su~mitt ) , ~ \.
By: ~'---CA.:::) ,P/
Representing: .b /~ J ,.qV 8,...) 't \,0
Address: ..00~fI..1"1n.) - GO.GAI r=,.qL'~
Account Members:t:2J"7'1~"'" ,L?A" L'i';q" ~ &:,~ "
Our calculation (which is not a part of this bid) of the interest cost from the above is:
$. i: .3-~,::: 797-3) ACCEPTED AS OF THE DATE ABOVE.WRITIE:"i
Total Interest from 04/15/95 to maturity Signed:
Less Premium, if any $ {j 1 Mayor
True Interest Cost $,-i .3<<~ 7<J9. 6 Attest:
True Interest Rate $"". 5.3.:389 % By:
Clerk of Commission
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