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HomeMy WebLinkAboutResolution 2855 Authorizing qarrants for 1992 sidewalk program '" -.-- --~ / " , COMMISSION RESOLUTION NO. 2855 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN, MONTANA, RELATING TO THE 1991 SIDEWALK CONSTRUCTION PROGRAM; AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF SPECIAL WARRANTS, IN THE AMOUNT OF $150,000.00, FOR THE PURPOSE OF FINANCING THE ENGINEERING DESIGN, CONSTRUCTION, INSTALLATION, INSPECTION AND ENGINEERING CERTIFICATION OF SIDEWALKS ALONG PARTICULAR STREETS IN THE CITY OF BOZEMAN, MONTANA. WHEREAS, the City is authorized, pursuant to Section 7-14-4109, M.C.A., to order the construction or reconstruction of sidewalks, curbs or gutters in front of any lot or parcel of land and may order alley approaches constructed or replaced adjacent to any lot or parcel of land within the city; and WHEREAS, the Commission did, on 1he 15th day of April 1991 , adopt Commission Resolution No. 2828, ordering that specified sidewalks be installed under the 1991 sidewalk program; and WHEREAS, written notice was given to the owner or agent of the owner and to any purchaser under contract for deed of said property in accordance with Commission Resolution No. 2828 and Section 7-14-4109, M.C.A.; and WHEREAS, the thirty (30) day notice period has expired and the owners or agents of the owners of said property have been given an opportunity to construct or caUSE;- to be constructed said sidewalks; and WHEREAS, tht.: City has determined which of lhe proposed sidewalks have b~~en constructed by the owners or agents of owners and which of the prop05ed sidewalks will be cc.nstructed by the City. A listing of the sidewalks to be constructed by the City is attach..HI hereto as Exhibit" A II and by this reference made a part hereof; and WHEREAS, the City is authorized to pay 'for the construction of the sidewalk hnprOVHment::; by issuance of special warrants and drawn against a fund known as the Special Sidewalk. Curb, Gutter and Alley Approach Fund and to secure suc'" warrants by the Revolving Fund of the City created pursuant to Seclion 7-12-4221, M.C.A.; and WHEREAS. the total costs of the sidewalk improvemE:nts to be constructed by the City, including costs of engineering, construction, inspection, financing and administration is estimated to be $150,000.00. ----..----.. ___n..._ , NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City of Bozeman, Montana, to wit. Section 1 Bonds to be Issued The City Commission of the City of Bozeman, Montana, shall issue and sell its Special Sidewalk, Curb, Gutter and Alley Approach Warrants, Series 1991, hereinafter referred to as Bonds, in the aggregate principal amount of $150,000.00 for the purpose of financing the sidewalk improvements. The Bonds shall be dated June 1, 1992 and shall bear interest from the original issue date, payable semi-annually on January 1 and July 1 of each year commencing January 1, 1993, at a rate or rates designated by the successful bidder at public sale and approved by this Commission. If issued as serial bonds, the Bonds shall mature on July 1, in each of the following years and amounts: yggr Amount 1993 $20,000.00 1994 $25,000.00 1995 $35,000.00 1996 $35,000.00 1997 $35,000.00 If issued as amortization bonds, the bonds will be issued as a single bond or divided into several bonds, as the Commission may determine at the time of sale, the principal of the Bonds shall be payable semi-annually on each January 1 and July 1, commencing January 1, 1993 and continuing through July 1, 1997. Serial bonds shall be in the demoniation of $5,000 each or any intregral multiple thereof of single maturities. Amortization bonds shall be preferred. The Bonds shall be issued only as fully registered bonds and shall be executed by the manual or facsimile signatures of the Mayor, Director of Finance, and Clerk of the City Commission. Section 2 Notice of Sale Sealed bids for the Bonds shall be opened and read at 10:00 a.m., Mountain Daylight Time, on Monday, May 18, 1992, in the office of the Clerk of the City Commission, in the Municipal Building, 411 East Main Street, Bozeman, Montana. The City will receive sealed bids only for the Bonds until said time. The Bonds shall then be sold, based on that - 2 - --.."...----.-- -- --. ..---..-- ------------- --- --- --..-.-.. , public competitive bid opening, at 3:30 p.m., Mountain Daylight Time, on Monday, May 18, in the Commssion Room, Municipal Building, 411 East Main Street, Bozeman, Montana. The Clerk of the Commission is authorized and directed to cause notice of the sale to be published in substantially the form set forth in Exhibit "B", attached hereto, in the Bozeman Dailv Chronicle, once a week for two successive weeks preceding the week which contains the date of sale. PASSED AND ADOPTED by the City Commission of the City of Bozeman, Montana, at a regular session thereof held on the 27th day of April 1992. ~~ ATTEST: ~.i~ Clerk of the Commission . APPROVED AS TO FORM: ,........ -\ ,.,^". ''''-1 . \ - 3 - -- - - - .. .-.--- - --.-.....----.... State of Montana ) County of Gallatin ) City of Bozeman ) I, Robin L. Sullivan, Clerk of the Commission of the City of Bozeman, Montana, do hereby certify that the foregoing Notice in Re for Commission Resolution No. 2855 was published at length in the Bozeman Daily Chronicle, a newspaper of general circulation printed and published in said City, in the issue dated the 1 st day of May 1992, and due proof of such publication is on file in my office. IN WITNESS WHEREOF I hereunto set my hand and affix the corporate seal of my office. ~/~ R L. SULLIVAN Clerk of the Commission - 4 - ~. - EXHIBIT" A" SIDEWALK PROGRAM -- 1991 CONSTRUCTION DURSTON: 18TH TO 22ND OWNER/ADDRESS LEGAL/ADDRESS LIB.FT - 1. City of Bozeman Alley 20 2. Frederick J. & Alta H. Bell L 1, B A Grafs Rearr. of 100.40 13 Sundance Trail B 6 Kirks 2nd Bozeman, MT 59715 1826 Durston 3. E. W. Webster, Trustee L 17, B 1 West Park Kanor '1 117.00 First National Bank (vacant) P.O. BOl 730 Bozeman, MT 59771 4. Carol Shaw L 18, B 1 West Park Manor #1 117.00 522 N. 20th 522 N. 20th Bozeman, MT 59715 5. Ilene A. Brissonneaud & Henry L 17, B 2 West Park Manor 11 0 E. Ehlers 523 N. 20th 308 N. 18th Bozeman, MT 59715 6. Linda Egbert L 18, B 2 West Park Manor #2 9 141 E. Hollyhock Road 522 N. 21st Belgrade, MT 59714 7. Westland Enterprises LIS, B 3 West Park Manor #2 117.02 P.O. BOl 939 523 N. 21st Bozeman, MT 59715 8. Westland Enterprises L 17, B 3 West Park Manor #3 117.08 P.O. BOl 939 522-524 N. 22nd Bozeman, MT 59715 23RD: COLLEGE TO KOCH 9. W. Reinhardt & Dorothy R. Tr. 8 Mountain Vista 316.8 Carlson 2205 W. College 2205 W. Colleqe Bozeman, MT 59715 10. Farmers Canal 25 --'"1""- EXHIBIT" A" TAMARACK: ROUSE TO SEVENTH OWNER/ADDRESS LEGAL/ADDRESS LIN.FT - 11. City of Bozeman B 29 & 30 & Vac. Street 632 Imes Addition 814 N. Bozeman 12. City of Bozeman Alley, Blk 31 Imes 14 13. Marian Bolinger L 20-24, B 31 Imes 159.5 BOl 1047 818-822 H. Black Bozeman, HT 59715 14. Arleen S. Kailey L 1-3, B 32 Imes 141 20 E. Tamarack 20 E. Tamarack Bozeman, MT 59715 15. City of Bozeman Alley Blk 32 Imes 14 16. City of Bozeman Tr. 1 COS 428 237.6 Senior Center 17. Geor!e Hoffman, Manager L 9 Tai Lane Addition 391.43 &Ice lence Theaters 1611 S. 11th 1611 S. Eleventh Avenue Bozeman, HT 59715 18. Bozeman Property Ltd. L 10, T I, Tai Lane Addition 135 West Port Center Vacant 1601 Dove St. Suite 155 Newport Beach, CA 92660 19. HSU NW 1/4 SE 1/4 Sec. 13, 830 (est) T2S, R5E Field House Parking Lot ARNOLD: THIRD TO SEVENTH 20. City of Bozeman S. Third Right of Way 17 W. Arnold 21. Daniel L. & Nancy L. Hoffer L 52, B I, Figgins 70 415 W. Arnold 415 W. Arnold Bozeman, HT 59715 22. Arthur E. & Kjestine Carey L 54, B I, Figgins 70 501 W. Arnold 501 W. Arnold Bozeman, HT 59715 A-2 ------ EXHIBIT "A" ARNOLD: THIRD TO SEVENTH (cont'd) MER/ADDRESS LEGAL/ADDRESS LIN.FT - 23. Michael T. & Frances S. Beehler L 3, B 8, Fiagins 72.5 601 W. Arnold 601 W. Arnol Bozeman, MT 59715 24. Bruce L. & Susan F. Shively L 4, B 8, Fiagins 72.5 607 W. Arnold 607 W. Arnol Bozeman, HT 25. Thomas H. Burton & Frances H. L 5, B 8, Fiagins 80.13 Burton, & Francine Booth 611 W. Arnol 611 W. Arnold Bozeman, HT 59715 26. Dexter B. & Shelly H. Sherman L 24, B 6, Figgins 102.56 604 W. Arnold 604 W. Arnold Bozeman, MT 59715 27. Daniel L. & Julie Ann Traver L 1, B 4, Figgins 80 2802 Secor 2802 Secor Bozeman, HT 59715 28. Rex C. & Anna H. Dahl L 2, B 4, Fiagins 75 516 W. Arnold 516 W. Arnol Bozeman, HT 59715 29. William A. Hiscock & Barbara A. L 3, B 4, Fiagins 73.32 Oyster 510 W. Arnol 510 W. Arnold Bozeman, HT 59715 30. Robert J. & Carol Ann Flaherty L 7, B 4, Fiagins 73.33 416 w. Arnold 416 W. Arnol Bozeman, HT 59715 31. James A Weikart, et.al. L 8, B 4, Fiagins 73.33 410 W. Arnold 410 W. Arnol Bozeman, HT 59715 THIRD: GRANT TO KAGY 32. Dennis G. & Barbara Kavanagh L 14-16, B 49, Cap. Hill 15t 1431 S. Third 1431 S. Third Bozeman, HT 59715 33. City of Bozeman Lincoln Street Right of Way 60 East Side of S. 3rd A-3 --- EXHIBIT "A" THIRD: GRANT TO KAGY (cont'd) OWNER/ADDRESS LEGAL/ADDRESS LIN.FT - 34. Larry A. Witt & Greg Nelson L 2, B 1, Thompson's 1st 20 419 N. 20th 1512 S. Third Bozeman, HT 59715 35. Daniel P. & Gena Steindorf L 3, B 1, Thompson's 1st 86 1520 S. Third 1520 S. Third Bozeman. MT 59715 36. Douwina Van Dyke L 8, B 2, Thompson's 1st 86 503 S. Willson 1548 S. Grand Bozeman, MT 59715 37. HSU . Unplatted. SE 1/4. Sec. 13 288 T2S, R5E Vacant 38. MSU L 1. Greek Way Sub. 165.5 Vacant 39. MSU L 9, Greek Way Sub. 305 Vacant 40. HSU L 7, Greek Way Sub. 329.1 Vacant 41. MSU L 6, Greek Way sub. 32 Vacant 42. City of Bozeman Linear Park 92 West Side of Third 43. City of Bozeman Lincoln St. R.O.W. 30 West side of 3rd GARFIELD: WILLSON TO BLACK 44. William W. & Carrie V. Ancell L 1 & 2, B 14. Butte SOt 1202 S. Willson 1202 S. Willson Bozeman, MT 59715 45. City of Bozeman Linear Park 37 46. Robert L. & Elizabeth M. L lB. B 1, Rearr. SOt Montgomery B 2. University Sub. 20 E. Garfield 20 E. Garfield Bozeman, MT 59715 A-4 ..n..._.. EXHIBIT "B" NOTICE OF SALE OF $150.000 SPECIAL SIDEWALK BONDS. SERIES 1991 CITY OF BOZEMAN. MONTANA NOTICE IS HEREBY GIVEN by the City Commission of the City of Bozeman, Montana, that the City Commission is accepting bids for the sale of Special Sidewalk Bonds, hereinafter referred to as Bonds, for the 1991 sidewalk construction program, in the amount of $150,000.00, with said bids to be opened at the hour of 10:00 a.m., Mountain Daylight Time, on Monday, the 18th day of May 1992, at the office of the Clerk of the City Commission, in the Municipal Building, 411 East Main Street, Bozeman, Montana. The sale of Bonds will occur at the regular meeting of the City Commission to be held at the hour of 3:30 p.m., Mountain Daylight Time, on Monday, the 18th day of May, 1992, at which time the City Commission will sell to the highest and best bidder for cash, either amortization or serial bonds drawn against the Special Sidewalk Curb, Gutter and Alley Approach Fund in the total aggregate principal amount of One Hundred Fifty Thousand Dollars ($150,000.00) (the Bonds) for the purpose of financing the engineering design, construction, installation, inspection and engineering certification of sidewalks along particular streets within the City of Bozeman, Montana, pursuant to the City's 1991 Sidewalk Construction Program. THE BONDS General Terms. Amortization bonds will be the first choice and serial bonds will be the second choice of the City Commission. If amortization bonds are sold and issued, the Bonds will be issued as a single bond or divided into several bonds, as the Commission may determine at the time of sale, both principal and interest to be payable in equal semiannual installments on each January 1 and July 1, commencing January 1, 1993, and, subject to prior redemption and prepayment, continuing through July 1, 1997. If serial bonds are issued and sold, the Bonds will be issued as bonds in the denomination of $5,000 each or any integral multiple thereof of single maturities; will be numbered serially and will mature serially on July 1 in the following respective years and amounts unless earlier prepaid or redeemed as hereinafter provided: ~-_. - ...-.---.--.. . -- - -. .- . . EXHIBIT "B" ~ Amount 1993 $20,000.00 1994 $25,000.00 1995 $35,000.00 1996 $35,000.00 1997 $35,000.00 The Bonds, whether amortization or serial bonds, will be dated as of June 1, 1992, and will bear interest at the rate or rates designated by the successful bidder of the sale, subject to the limitations stated herein. Interest will be payable semi-annually on January 1 and July 1 of each year commencing January 1, 1993. RedemDtion. All Bonds are subject to redemption and prepayment at the option of the City of Bozeman, in order of registration on any interest payment date from proceeds of the Bonds not required to pay costs of the Improvements or from the prepayment of assessments levied against the properties adjacent to the Improvements or from other sources of funds available to the City. The Bonds shall not be callable from the proceeds of an issue of refunding bonds prior to the expiration of 1/3 of their original term. Securitv. The Bonds are payable from the collection of a special tax or assessment which is a lien against the property upon which the assessment is made, and are not a general obligation of the City. The Bonds are secured by the Special Improvement District Revolving Fund of the City (the Revolving Fund). The City will agree to make a loan from the Revolving Fund to the Special Sidewalk, Curb, Gutter and Alley Approach Fund (the Fund), to make good any deficiency then existing in the Interest and Bond Account of the Fund and to provide funds for the Revolving Fund by levying a tax or making a loan from the City's general fund to the extent authorized by law. The City of Bozeman has outstanding as of March 31, 1992, $4,325,000.00 principal amount of Special Improvement District Bonds and Sidewalk, Curbs, Gutters and Alley Approaches Warrants backed by the Revolving Fund. The City has a balance of $278,586.86 in its Special Improvement District Revolving Fund. Registrar and Paving Agent. Principal of and interest on the Bonds will be payable at the principal office of the Director of Finance, City of Bozeman, Montana. B-2 . . EXHIBIT "B" . BIDS AND AWARD OF SALE Terms of Bid. Each bid must be for all but not less than all of the Bonds. All Bonds maturing on the same date must bear basic interest from the date of issue paid at a single, uniform rate, expressed in integral multiples of 1 /20 of one percent per annum. No bid for less than par value with accrued interest on the principal amount of the Bonds to the date of delivery of the Bonds will be considered. ReceiDt of Bids and Award of Sale. Sealed bids for the Bonds will be received by the Clerk of the Commission of the City of Bozeman, Montana, until 1 0:00 a.m., Mountain Daylight Time, on Monday, the 18th day of May, 1992, at which time the bids will be opened and tabulated. A tabulation of the bids received will be presented to the City Commission at 3:30 p.m. on Monday, the 18th day of May 1992, at which time the City Commission will make the award of sale, if any. Each envelope must be marked as follows: "Bid for $150,000.00 1991 Sidewalk Construction Program Bonds" and must indicate the name and address of the bidder or, in the case of a group of bidders, of the representative. Basis of Award. The award, if any will be made to the bidder whose bid results in the lowest net interest cost payable on the Bonds. The City of Bozeman reserves the right to reject any and all bids and to waive any informality or irregularity in any and all bids. Good Faith Check. Each bid must be accompanied by lawful money of the United States of America or a cashier's check, certified check, bank money order or bank draft in the amount of Three Thousand Dollars ($3,000.00) drawn and issued by a national banking association located in Montana or any banking corporation incorporated under the laws of Montana, payable to the City of Bozeman. The bid security of the unsuccessful bidders will be returned immediately on award of the Bonds to the successful bidder or after rejection of all bids. The bid security of the successful bidder will be deposited by the Director of Finance on the date of sale, and at the time of the delivery of the Bonds such security will be applied against the purchase price of the Bonds or will be retained as liquidated damages upon the B-3 ----- ------- .-....-.......--. -_.~---- ---- ,. EXHIBIT "B" . failure of the successful bidder to take and pay for the Bonds in accordance with the terms of the bid. No interest will be allowed on the bid security. Additional Information. Additional information regarding the 1991 Sidewalk Construction Program and the Bonds therefor may be obtained from the Clerk of the City Commission, City of Bozeman, P.O. Box 640, Bozeman, Montana 59715, telephone (406) 586-3321, during regular business hours. DELIVERY AND LEGAL OPINION Deliverv of Bonds. Delivery of the Bonds will be made payable therefor in immediately available funds within forty-five (45) days of the date of sale at Bozeman, Montana, or at such other location as the purchaser shall request and the City of Bozeman shall approve. Costs. The Bond Purchaser shall be responsible for the cost of the printing of the Bonds, any delivery agent charges and the legal opinion. ~d~ ROBIN L. SULLIVAN Clerk of the Commission Legal Ad Publish: Sunday, May 3, 1992 Sunday, May 10, 1992 8-4 -------- -- n___.___n_.__ --.".----------