HomeMy WebLinkAboutResolution 2998 Intent to pub GO bond issue on ballot 8-15-94
COMMISSION RESOLUTION NO. 2998
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN,
MONT ANA, DECLARING THE CITY'S INTENT TO SUBMIT THE QUESTION
OF ISSUING GENERAL OBLIGATION BONDS IN THE AMOUNT OF $5
MILLION FOR IMPLEMENTING A SERIES
OF TRANSPORT A TION
PROJECTS, INCLUDING DESIGN, AS IDENTIFIED IN THE BOZEMAN
URBAN TRANSPORTATION PLAN 1993 UPDATE.
WHEREAS, the City Commission of the City of Bozeman has determined that, to
begin the installation of improvements identified in the Bozeman Urban Transportation Plan
1993 Update, it is necessary to seek an additional source of funding; and.
WHEREAS, Title 7, Chapter 7, Part 42, Montana Code Annotated, provides that a
municipal government may issue general obligation bonds, upon approval by the electorate
of the community; and
WHEREAS, the City Commission of the City of Bozeman, pursuant to Section
7-7-4223, Montana Code Annotated, may call for an election on the question of issuing
bonds.
NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City of
Sozeman, Montana:
Section 1
That the proceeds of the $5 million general obligation bond issue will be used for
the single purpose of implementing a series of transportation projects (road improvements),
including design, as contained in the Bozeman Urban Transportation Plan 1993 Update.
Section 2
That the $ 5 million general obligation bond issue is to be repaid over a period of
nineteen (19) years.
Section 3
That the ballot question to authorize the City to issue such bonds shall be submitted
to the registered electors of the City of Bozeman at the general election to be held on
Tuesday, November 8, 1994, and the wording of the proposal shall be substantially as
follows:
That the City of Bozeman, Montana, be authorized to issue general
obligation bonds in the amount of $5,000,000 to be payable over a period
of nineteen (19) years from the date of issuance, the proceeds of such
bonds to be used to implement a series of transportation projects (road
improvements) contained in the Bozeman Urban Transportation Plan 1993
Update.
D FOR Issuing a general obligation bond of the City of Bozeman
in the amount of $5,000,000, payable over a period of
nineteen (19) years, for the purpose of implementing a
series of transportation projects contained in
the
Bozeman Urban Transportation Plan 1993 Update.
D AGAINST Issuing a general obligation bond of the City of Bozeman
in the amount of $5,000,000, payable over a period of
nineteen (19) years, for the purpose of implementing a
series of transportation projects contained in the
Bozeman Urban Transportation Plan 1993 Update.
PASSED AND ADOPTED by the City Commission of the City of Bozeman, Montana,
at a regular session thereof held on the 15th day of August 1994.
ATTEST:
()d:- c:I~
ROBIN L. SULLIVAN
Clerk of the Commission
APPROVED AS TO FORM:
.2-
NOTICE
NOTICE IS HEREBY GIVEN that on November 8, 1994, at the regularly scheduled
general election, to be held during the hours of 7:00 a,m, to 8:00 p,m" the City of Bozeman
will present to the electors a proposal to issue $5 million in General Obligation Bonds for the
purpose of implementing a series of transportation projects, including design, as contained
in the Bozeman Urban Transportation Plan 1993 Update. The proposed bonds would be
issued for a term of nineteen (19) years,
ROBIN L. SULLIVAN
Clerk of the Commission
Display Ad
Publish: Sunday, October 16, 1994
Sunday, October 23, 1994
Sunday, October 30, 1994