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Home My WebLink AboutResolutions 5633 - Resolution Title Unknown Docusign Envelope ID:6D7F30D0-E6lC431A-A13A-24B2FD7F8716 2843198 Page: 1 of 6 01/21/2025 01:36:52 PM Fee: $48.00 Eric Semerad - Gallatin County, MT I MISc I IIIIIII IIIIII II IIII IIIIIII IIIIIII I III III I I I I III IIIII IIII IIII return to: City of Bozeman City Clerk PO Box 1230 Bozeman, MT 59771-1230 RESOLUTION 5633 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN, MONTANA, RECOGNIZING AND REESTABLISHING THE MEADOW CREEK WATER IMPROVEMENTS PAYBACK DISTRICT AND EXTENDING THE TERMS OF THE MEADOW CREEK SUBDIVISION WATER IMPROVEMENTS PAYBACK AGREEMENT,AS AMENDED. WHEREAS, on January 29, 2008, the City of Bozeman entered into the Meadow Creek Subdivision Payback Agreement for Water Improvements with Meadow Creek Partners,LLC and filed with the Gallatin County Clerk and Recorder as document number 2293492("Water Payback Improvements Agreement"), thereby establishing the Meadow Creek Water Improvements District("the District"); and WHEREAS,on October 29,2010,Meadow Creek Partners,LLC assigned all of its rights, title,and interest in the Water Improvements Payback Agreement to MCCAPITAL,LLC("MCC") by the Amendment to Meadow Creek Subdivision Payback Agreement for Water Improvements, filed with the Gallatin County Clerk and Recorder as document number 2374741 (together with the Water Improvements Payback Agreement, the"Amended Water Payback Agreement"); and WHEREAS, on November 3, 2022, MCC submitted a request to extend the Amended Water Payback Agreement for a period of twenty(20)years from the original expiration date; and WHEREAS, the City of Bozeman agrees the City and properties listed in the Water Improvements Payback Agreement have and continue to benefit from the water improvements described in the Water Improvements Payback Agreement, and an extension of the same would allow MCC the possibility of a reasonable recovery under the Water Improvements Payback Agreement. NOW, THEREFORE,BE IT RESOLVED by the City Commission of the City of Bozeman, Montana: 2843198 Page 2 of 6 01/21/2025 013&52 PM Docusign Envelope ID:6D7F30D0-E61C-431A-A13A-24B2FD7F8716 Section 1 Re-Establishment of District. The Commission hereby recognizes the District established in 2008 and hereby reestablishes the same by this resolution. The District boundary remains unchanged as the boundary was previously described in Exhibit A and Exhibit B of the original 2008 Water Improvements Payback Agreement. Section 2 Extension and Term of Payback District and Amended Water Improvements Payback Agreement. The District and the Amended Water Improvements Payback Agreement shall continue until MCC has recovered seventy three and fifty nine hundredths percent (73.59%) of the total "as-built" construction costs provided in Exhibit B of the 2008 Water Improvements Payback Agreement (recorded as pages 5-8 of document 2293492), or upon expiration of the payback agreement, whichever is earlier, which by this 2nd Amended Agreement is hereby extended for a period of twenty (20) years from the original date of expiration, extending the Agreement to January 29, 2048. The Commission hereby adopts the 2nd Amendment to the Meadow Creek Subdivision Payback Agreement for Water Improvements, attached as Exhibit A. Section 3 Notice of Payback Costs/TiminPayback. Current owners of the undeveloped benefitted properties included on Exhibit B of the 2008 Water Improvements Payback Agreement (recorded as pages 5-8 of document 2293492) are hereby noticed that the District and the Water Improvements Payback Agreement are reestablished and extended as described in Sections 1 and 2 of this Resolution with all original costs and payback terms remaining unchanged. Benefitted 2843198 Page 3 of 6 01/21/2025 01.36.52 PM Docusign Envelope ID:6D7F30D0-E61C-431A-A13A-24B2FD7F8716 properties must be given credit for any previous payments made pursuant to the Amended Water Improvements Payback Agreement. Section 4 Recording. The City Clerk is instructed to record this Resolution in the records of the Gallatin County Clerk and Recorder. PASSED,ADOPTED,AND APPROVED by the City Commission of the City of Bozeman, Montana, at a regular session thereof held on the 17th day of December ,2024. F DocuSigned by: � Signed by: TERRY CUNNINGHAM �0 E DocuSigned by: �� b.; s Mayor W ATTEST: �� S �; E _ : MIKE MAAS City Clerk Signed by: APPROVED AS TO FORM: I Q ArQArAdAB... GREG SULLIVAN City Attorney 2843198 Page 4 of 6 01/21/2025 01.36.52 PM Docusign Envelope ID:6D7F30D0-E61C-431A-A13A-24B2FD7FB716 After recording, p ase return to: Gallik&Breme C. 777 East Mai , Suite 203 Bozeman, ntana 59715 2nd AMENDMENT TO MEADOW CREEK SUBDIVISION PAYBACK AGREEMENT FOR WATER IMPROVEMENTS THIS AGREEMENT, made and entered into this 17th day of December 2024, by and between the CITY OF BOZEMAN, a municipal corporation, organized under its Charter and the laws of the State of Montana("City)", and MCCAPITAL,LLC ("MCC"). WHEREAS, on January 29, 2008, the City of Bozeman entered into the Meadow Creek Subdivision Payback Agreement for Water Improvements with Meadow Creek Partners,LLC and filed with the Gallatin County Clerk and Recorder as document number 2293492 ("Water Improvements Payback Agreement", thereby establishing the Meadow Creek Water Improvements Payback District(the"District"); and WHEREAS, on October 29, 2010,Meadow Creek Partners,LLC assigned all of its rights, title, and interest in the Water Improvements Payback Agreement to MCC by the Amendment to Meadow Creek Subdivision Payback Agreement for Water Improvements,filed with the Gallatin County Clerk and Recorder as document number 2374741 (together with the Water Improvements Payback Agreement, the "Amended Water Improvements Payback Agreement"); and WHEREAS, on November 3, 2022, MCC submitted a request for a twenty (20) year extension of the Amended Water Improvements Payback Agreement; and WHEREAS, notice of this 2nd Amended Agreement was mailed to the current owners of undeveloped benefitted property within the established District boundaries and a public hearing was held by the City Commission on December 17, 2024; and WHEREAS, the City of Bozeman has no obligation to extend this agreement but agrees the City and properties within the District have and continue to benefit from the water 2ND AMENDMENT TO MEADOW CREEK SUBDIVISION PAYBACK AGREEMENT FOR WATER IMPROVEMENTS Page 1 of 2 2843198 Page 5 of 6 01/21/2025 01.3&52 PM Docusign Envelope ID:6D7F30D0-E61C-431A-A13A-24B2FD7F8716 improvements provided pursuant to the Water Improvements Payback Agreement and that an extension would afford MCC the possibility of a reasonable recovery under the Water Improvements Payback Agreement, the City is receiving 7% of all payback payments as an administrative fee and will continue to receive the fee on any of the benefitted properties that use such City administrative services, and it is mutually beneficial to the parties to extend the term of the existing agreement. THEREFORE,the undersigned hereto agrees as follows: The District and the Amended Water Improvements Payback Agreement shall continue until MCC has recovered seventy-three and fifty nine hundredths percent (73.59%) of the total "as-built" construction costs provided in Exhibit B of the 2008 Water Improvements Payback Agreement (recorded as pages 5-8 of document 2293492), or upon expiration of the Water Improvements Payback Agreement which by this 2nd Amendment to Meadow Creek Subdivision Payback Agreement for Water Improvements will be extended for a period of twenty (20) years from the original date of expiration, extending the agreement to February 25, 2048,whichever occurs first. All remaining terms of the Amended Water Improvements Payback Agreement are not affected by this Amendment and shall continue in operation and effect. IN WITNESS WHEREOF, the parties have executed this instrument the day and year first written above. Signed by: CITY OF BOZEMAN Signed by: e _- a BY. CHUCK WINN ITS: INTERIM CITY MANAGER MCCAPITAL, LLC DocuSigned by: [Moc, OF49A714AA894A8 BY: MONTE BECK ITS: MANAGER 2ND AMENDMENT TO MEADOW CREEK SUBDIVISION PAYBACK AGREEMENT FOR WATER IMPROVEMENTS Page 2 of 2 2843198 Page 6 of 6 01/21/2025 013&52 PM From MCA 1-5-610(7) For certifying a copy of an electronic record: State of Montana County of Gallatin I certify that the foregoing and annexed record entitled Resolution 5633, dated December 17, 2024 and consisting of 5 pages is a true and correct copy of an electronic record printed directly from the electronic file by me on -)aAoa-y , ao�s Mr��( S (Signature of notarial officer) (Official stamp) .�BEM" MIKE MAAS A�s Notary Public aoTnRiq�. for the State of Montana Residing at: .SEAL.-Q f Belgrade, Montana My Commission Expires: November 8,2025