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HomeMy WebLinkAboutResolutions 2026-84 - SOUTH BOZEMAN TECHNOLOGY DISTRICT COMPREHENSIVE DEVELOPMENT PLAN REQUIRES PLEDGING TAX INCREMENT TO THE PAYMENT OF BON RESOLUTION 2026-84 RESOLUTION DETERMINING THAT FULFILLMENT OF THE SOUTH BOZEMAN TECHNOLOGY DISTRICT COMPREHENSIVE DEVELOPMENT PLAN REQUIRES PLEDGING TAX INCREMENT TO THE PAYMENT OF BONDS THAT WILL EXTEND THE TERMINATION OF THE TAX INCREMENT FINANCING PROVISION BEYOND THE 15TH YEAR WHEREAS, pursuant to Montana Code Annotated, Title 7, Chapter 15, Parts 42 and 43, as those laws read on December 31, 2012 (the “Act”), and Ordinance No. 1844, passed, adopted, and approved by the City Commission (the “Commission”) of the City of Bozeman, Montana (the “City”), having an effective date of December 19, 2012, the Commission created the South Bozeman Technology Tax Increment Financing District (the “District”) as a technology district. In addition, by Resolution No. 4414, adopted by the Commission on November 5, 2012, the Commission adopted the South Bozeman Technology District Comprehensive Development Plan (the “Plan”); and WHEREAS, the District was created for the purpose of the development of infrastructure to encourage the location and retention of technology infrastructure development projects in the State of Montana; and WHEREAS, pursuant to Resolution No. 5420, adopted by the Commission on June 14, 2022, (i) the Commission approved certain buildings to be located in the District to house office, commercial workspace, and associated activities, to include research and design activities and potentially manufacturing (the “Projects”), as technology infrastructure development projects under the Act and the Plan and found that certain Infrastructure Improvements (as defined below) are eligible for tax increment financing; and (ii) the Commission approved and the City entered into a Development Agreement, dated as of June 14, 2022 (the “Initial Development Agreement”), with Big Sky ICINF, LLC, a Delaware limited liability company (the “Developer”); and Docusign Envelope ID: 63625FF6-A573-8C61-82F2-1D36F6939B42 2 WHEREAS, pursuant to Resolution No. 2026-15, adopted by this Commission on February 10, 2026, the City entered into a First Amendment to Development Agreement, dated as of February 10, 2026 (the “First Amendment”); and WHEREAS, in the Initial Development Agreement, as amended by the First Amendment (as so amended, the “Development Agreement”), the City agreed to reimburse the Developer for costs of certain public infrastructure improvements, including construction of street, curb, gutter and sidewalk improvements, street lighting improvements, water and sewer line extensions, storm sewer infrastructure, utilities, related landscaping and related improvements (collectively, the “Infrastructure Improvements”) from tax increment or the proceeds of tax increment revenue bonds; and WHEREAS, the Infrastructure Improvements are necessary and desirable in connection with hosting tenants of the properties in the District and the fulfillment of the Projects as technology infrastructure development projects; and WHEREAS, the City now desires to issue bonds to the payment of which the tax increment of the District would be pledged (the “Bonds”) for the purpose of providing funds to reimburse the Developer for all or a portion of the costs of the Infrastructure Improvements, funding, as and if appropriate, a debt service reserve account, and paying associated costs; and WHEREAS, so that sufficient tax increment is available to pay the principal of and interest on the Bonds and that sufficient tax increment revenues remain for the marketability of the Bonds and for the operation and administration of the District, the term of the Bonds will have the effect of extending the tax increment financing provision applicable to the District beyond the 15th year of the District, and for an additional approximately 24 years; and WHEREAS, pledging tax increment of the District to the payment of the Bonds will extend the termination of the tax increment financing provision applicable to the District beyond the 15th year as provided in Section 7-15-4292 of the Act; and WHEREAS, in accordance with Montana Code Annotated, Section 7-15-4289, as amended by House Bill 19 of the 2025 legislature and as now in existence, this Commission, prior to the adoption of this Resolution, conducted a public hearing on Docusign Envelope ID: 63625FF6-A573-8C61-82F2-1D36F6939B42 3 whether fulfillment of the Plan requires pledging tax increment of the District to the payment of the Bonds. NOW THEREFORE, BE IT RESOLVED by the Commission of the City, as follows: The Commission, following a public hearing and for the reasons stated in the Recitals above, hereby determines that fulfillment of the Plan requires pledging tax increment to the payment of the Bonds, with the effect that the termination of the tax increment financing provision applicable to the District will be extended beyond the 15th year. This Resolution shall take effect immediately upon its passage and adoption by this Commission. PASSED, ADOPTED AND APPROVED by the City Commission of the City of Bozeman, Montana, this 22nd day of September, 2026. ______________________________ JOEY MORRISON Mayor ATTEST: ___________________________________ MICHAEL MAAS City Clerk APPROVED AS TO FORM: _____________________________ GREG SULLIVAN City Attorney (SEAL) Docusign Envelope ID: 63625FF6-A573-8C61-82F2-1D36F6939B42 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 2026-84 entitled: “RESOLUTION DETERMINING THAT FULFILLMENT OF THE SOUTH BOZEMAN TECHNOLOGY DISTRICT COMPREHENSIVE DEVELOPMENT PLAN REQUIRES PLEDGING TAX INCREMENT TO THE PAYMENT OF BONDS THAT WILL EXTEND THE TERMINATION OF THE TAX INCREMENT FINANCING PROVISION BEYOND THE 15TH YEAR” (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 in its capacity as the governing body and entity chosen to administer the South Bozeman Technology Tax Increment Financing District at a meeting on September 22, 2026, 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: Morrison, Fischer, Madgic, Bode, and Sweeney; voted against the same: None; abstained from voting thereon: None; or were absent: None. WITNESS my hand and seal officially this 22nd day of September, 2026. (SEAL) MIKE MAAS City Clerk Docusign Envelope ID: 63625FF6-A573-8C61-82F2-1D36F6939B42 RESOLUTION 2026-85 RESOLUTION RELATING TO TAX INCREMENT REVENUE BOND (SOUTH BOZEMAN TECHNOLOGY TAX INCREMENT FINANCING DISTRICT); PRELIMINARILY AUTHORIZING THE PRIVATE NEGOTIATED SALE OF SUCH BOND AND AUTHORIZING THE PROCESS FOR SELECTING A PURCHASER THEREOF BE IT RESOLVED by the City Commission (the “Commission”) of the City of Bozeman, Montana (the “City”), as follows: Section 1 Recitals. 1.01. Under the provisions of Montana Code Annotated, Title 7, Chapter 15, Parts 42 and 43, as those laws read on December 31, 2012 (the “Act”), the City was authorized to create technology districts for the purpose of encouraging the location and development of technology infrastructure development projects in the State of Montana, to provide for the segregation and collection of tax increment with respect to property taxes collected in such technology districts, and to apply tax increment revenues derived from projects undertaken within the technology districts to pay eligible costs. 1.02. Pursuant to the Act and Ordinance No. 1844 adopted by the Commission on second reading on November 19, 2012, effective December 19, 2012 (the “Ordinance”), the City has created the South Bozeman Technology Tax Increment Financing District (the “District”) as a technology district. By Resolution No. 4414, adopted by the City Commission on November 5, 2012, the Commission has adopted the South Bozeman Technology District Comprehensive Development Plan (the “Plan”) as a comprehensive development plan that ensures that the District can host a diversified tenant base of multiple independent tenants, in accordance with the Act. The Plan provides for the segregation and collection of tax increment revenues with respect to the District. Docusign Envelope ID: 63625FF6-A573-8C61-82F2-1D36F6939B42 Resolution 2026-85, Preliminarily Authorizing the Issuance of Tax Increment Revenue Bond (South Bozeman Technology Tax Increment Financing District) 2 1.03. Pursuant to Resolution No. 5420, adopted by the Commission on June 14, 2022, (i) the Commission approved certain buildings to be located in the District to house office, commercial workspace, and associated activities, to include research and design activities and potentially manufacturing (the “Projects”), as technology infrastructure development projects under the Act and the Plan and found that certain Infrastructure Improvements (as defined below) are eligible for tax increment financing; and (ii) the Commission approved and the City entered into a Development Agreement, dated as of June 14, 2022 (the “Initial Development Agreement”), with Big Sky ICINF, LLC, a Delaware limited liability company (the “Developer”). Pursuant to Resolution No. 2026-15, adopted by this Commission on February 10, 2026, the City approved and entered into a First Amendment to Development Agreement, dated as of February 10, 2026 (the “First Amendment”). In the Initial Development Agreement, as amended by the First Amendment (as so amended, the “Development Agreement”), the City agreed to reimburse the Developer for costs of certain public infrastructure improvements, including construction of street, curb, gutter and sidewalk improvements, street lighting improvements, water and sewer line extensions, storm sewer infrastructure, utilities, related landscaping and related improvements (collectively, the “Infrastructure Improvements”) from tax increment or the proceeds of tax increment revenue bonds. Section 2 Proposed Issuance of Bond. 2.01. Pursuant to the authorizations and findings recited in the Plan and in Section 1 hereof and a resolution adopted on the date hereof following a public hearing determining that the Plan requires pledging tax increment to the payment of bonds that will extend the termination of the tax increment financing provision beyond the 15th year, it is hereby determined that it is in the best interests of the City to issue a Tax Increment Revenue Bond (South Bozeman Technology Tax Increment Financing District) for the purpose of reimbursing the Developer for a portion of the costs of the Infrastructure Improvements, funding a deposit to a debt service reserve account for the bond, if necessary, and paying costs of issuance of the bond. Docusign Envelope ID: 63625FF6-A573-8C61-82F2-1D36F6939B42 Resolution 2026-85, Preliminarily Authorizing the Issuance of Tax Increment Revenue Bond (South Bozeman Technology Tax Increment Financing District) 3 2.02. Therefore, the Commission desires to adopt this resolution to identify a suitable purchaser of the City’s Tax Increment Revenue Bond (South Bozeman Technology Tax Increment Financing District) (the “Bond”). Section 3 Declaration of Intention to Pursue Financing; Sale of Bond. 3.01. This Commission determines it is in the best interests of the City to explore offering for sale and issuing the Bond for the purpose of reimbursing the Developer for costs of the Infrastructure Improvements, funding a deposit to a debt service reserve account for the Bond, if necessary, and paying costs associated with the sale and issuance of the Bond. The estimated aggregate principal amount of the Bond is approximately $3,894,000, recognizing such amount is subject to change. 3.02. Pursuant to the Act, the City may sell the Bond at a public or private negotiated sale as the governing body shall determine. The Commission determines it is in the best interest of the City to pursue the sale of the Bond at a private negotiated sale and desires to undertake a solicitation process described herein to select a suitable purchaser of the Bond willing to purchase the Bond on the most favorable terms, as determined in the sole discretion of the City. The City Finance Director or designee is authorized in consultation with and with the assistance of Baker Tilly Municipal Advisors, LLC, as municipal advisor to the City (the “Municipal Advisor”), to select a purchaser of the Bond and negotiate the sale of the Bond pursuant and subject to Section 3.03. 3.03. The Bond is authorized to be sold to the purchaser of the Bond (the “Purchaser”) that provides the City the most favorable interest rate and other terms and conditions, as determined in the sole discretion of the City. The City Finance Director is hereby authorized in consultation with and with the assistance of the Municipal Advisor to provide or make available a Term Sheet and to append to such Term Sheet the form of Certificate and Receipt of Purchaser substantially in the form similar to the attached Exhibit A, with such revisions as are deemed appropriate, to banks and other financial institutions and solicit responses to purchase the Bond. The City acting through its City Finance Director and in consultation with and with the assistance of the Municipal Advisor shall evaluate responses to the Term Sheet and the Municipal Advisor shall recommend to the City Finance Director the selection of the Purchaser based on factors set forth in the Term Sheet and the responses received. The City Finance Director, in consultation with the Municipal Advisor, is authorized to send notice of selection Docusign Envelope ID: 63625FF6-A573-8C61-82F2-1D36F6939B42 Resolution 2026-85, Preliminarily Authorizing the Issuance of Tax Increment Revenue Bond (South Bozeman Technology Tax Increment Financing District) 4 (or direct the Municipal Advisor to send such notice) to the selected Purchaser and to negotiate with the selected Purchaser the final structure and terms and conditions of the Bond to be set forth in a subsequent resolution of the Commission. The City, acting through the City Finance Director, and in consultation with the Municipal Advisor, may, in its sole discretion, select the Purchaser with which to negotiate the purchase of the Bond, negotiate further with any financial institution proposing to purchase the Bond, waive non-substantive informalities or defects of any such proposal, or reject any and all such proposals. All costs of issuing the Bond (including, without limitation, the fees and expenses of Bond Counsel and of the Municipal Advisor) are expected to be paid by the City as part of the financing, from proceeds of the Bond or other available sources. 3.04. The final terms and conditions of the Bond shall be prescribed by a subsequent resolution to be adopted by this Commission. Section 4 Adequacy of Tax Increment. In fiscal year 2026, the City received tax increment revenues from the District (“Tax Increment”) in the amount of $520,955.17, and the City estimates that Tax Increment to be received in each future fiscal year will be at least $520,955.17. Assuming the Bond is issued in the principal amount of $3,894,000, and bears interest at a rate of 6.25% payable over a term of approximately 25 years, the maximum annual principal and interest to be payable on the Bond is expected to be $303,875. Accordingly, the Commission finds that the Tax Increment expected to be received each year by the City would be sufficient to pay the estimated maximum annual principal and interest payable on the Bond. Docusign Envelope ID: 63625FF6-A573-8C61-82F2-1D36F6939B42 Resolution 2026-85, Preliminarily Authorizing the Issuance of Tax Increment Revenue Bond (South Bozeman Technology Tax Increment Financing District) 5 PASSED, ADOPTED, AND APPROVED by the City Commission of the City of Bozeman, Montana, at a regular session thereof held on the 22nd day of September, 2026. ____________________________________ JOEY MORRISON Mayor ATTEST: ___________________________________ MIKE MAAS City Clerk APPROVED AS TO FORM: ___________________________________ GREG SULLIVAN City Attorney Docusign Envelope ID: 63625FF6-A573-8C61-82F2-1D36F6939B42 Resolution 2026-85, Preliminarily Authorizing the Issuance of Tax Increment Revenue Bond (South Bozeman Technology Tax Increment Financing District) 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 Resolution 2026-85 entitled: “RESOLUTION RELATING TO TAX INCREMENT REVENUE BOND (SOUTH BOZEMAN TECHNOLOGY TAX INCREMENT FINANCING DISTRICT); PRELIMINARILY AUTHORIZING THE PRIVATE NEGOTIATED SALE OF SUCH BOND AND AUTHORIZING THE PROCESS FOR SELECTING A PURCHASER 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 September 22, 2026, 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 Commission members voted in favor thereof: Morrison, Fischer, Madgic, Bode and Sweeney; voted against the same: none; abstained from voting thereon: none; or were absent: none. WITNESS my hand and seal officially this 22nd day of September, 2026. (SEAL) __________________________________ MIKE MAAS City Clerk Docusign Envelope ID: 63625FF6-A573-8C61-82F2-1D36F6939B42 Resolution 2026-85, Preliminarily Authorizing the Issuance of Tax Increment Revenue Bond (South Bozeman Technology Tax Increment Financing District) A-1 EXHIBIT A FORM OF CERTIFICATE AND RECEIPT OF PURCHASER I, the undersigned, being a duly qualified and acting representative of _____________, the original purchaser (the “Purchaser”) of the $[______] Tax Increment Revenue Bond (South Bozeman Technology Tax Increment Financing District), Series 20__ (the “Bond”), issued by City of Bozeman, Montana (the “City”), dated, as originally issued, as of ________, 20__, hereby acknowledge receipt of the Bond, fully executed and authenticated, in the aggregate principal amount of $[_______], payable semiannually on each January 1 and July 1 for a term of approximately [25] years, with [principal and] interest payments commencing ___________ 1, 20__ and, absent prepayment, principal and interest payments ending ___________ 1, 20__, and bearing interest from the date of original registration until paid or duly called for prepayment and redemption at the rate of __________% per annum and otherwise conforming with the provisions of Resolution No. ________, adopted by the City Commission of the City on ____________, 20__ (the “Bond Resolution”), and on behalf of the Purchaser certify that: 1. The Purchaser is a bank duly organized, validly existing and in good standing under the laws of the State of Montana and has full power and authority to purchase the Bond and make the loan evidenced thereby. 2. The Purchaser has sufficient knowledge and experience in financial and business matters, including purchase and ownership of municipal and tax-exempt obligations, to be able to evaluate the risks and merits represented by the purchase of the Bond and the making of the loan evidenced thereby. 3. The Purchaser has authority to purchase the Bond and to execute any instruments and documents required to be executed by the Purchaser in connection with the purchase of the Bond. 4. The Purchaser understands that an official statement, prospectus, offering circular, or other offering statement has not been provided with respect to the Bond. The Purchaser has made its own inquiry and analysis with respect to the City, the South Bozeman Technology Tax Increment Financing District (the “District”), the Bond, the Tax Increment, and other material factors affecting the security for and payment of the Bond. The Purchaser received and reviewed a copy of the Bond Resolution. Terms with initial capital letters used in but not defined in this Certificate have the meanings given them in the Bond Resolution. 5. The Purchaser acknowledges that it has reviewed information, including financial statements and other financial information, regarding the City and the District and has had the opportunity to ask questions and receive answers from knowledgeable individuals concerning the City, the District, the Bond, and the Tax Increment, so that it has been able to make an Docusign Envelope ID: 63625FF6-A573-8C61-82F2-1D36F6939B42 Resolution 2026-85, Preliminarily Authorizing the Issuance of Tax Increment Revenue Bond (South Bozeman Technology Tax Increment Financing District) A-2 informed decision to purchase the Bond and to make the loan evidenced thereby and acknowledges that it has not relied on the City with respect to any information with respect to the advisability of purchasing the Bond or the security for the Bond. 6. The Purchaser understands that the Bond: (i) is not registered under the Securities Act of 1933, as amended, and is not registered or otherwise qualified for sale under the “Blue Sky” laws and regulations of any state, (ii) is not listed on any stock or other securities exchange, and (iii) has not been rated by any credit rating agency. 7. The Purchaser understands and acknowledges that its payment under the Bond is limited solely to Tax Increment, as described in the Bond and the Resolution, [and amounts available in the Reserve Account], and that it has no right to compel the exercise of any taxing power of the City or any other public body for the repayment of the Bond. 8. [The deposit by the City of $_______ into the Reserve Account was required by the Purchaser in connection with its purchase of the Bond.] 9. The Bond is being acquired by the Purchaser for its own account and not with a present view toward resale or distribution; provided, however, that the Purchaser reserves the right to sell, transfer or redistribute the Bond, but agrees that any such sale, transfer or redistribution by the Purchaser shall be to (i) an affiliate of the Purchaser; (ii) a trust or other custodial arrangement established by the Purchaser or one of its affiliates, the owners of any beneficial interest in which are limited to qualified institutional buyers or accredited investors; or (iii) a person or entity that the Purchaser reasonably believes is qualified to purchase the Bond and that makes representations substantially similar to the representations the Purchaser makes in this certificate. The Purchaser intends to hold the Bond to evidence the loan it has made to the City for the term of the Bond. 10. (i) The Bond will be evidenced by a physical certificate delivered to the Purchaser by the City, (ii) the Bond will not have a CUSIP number, (iii) the Bond is not, and will not be, rated by an independent rating agency, (iv) the Purchaser shall not transfer the Bond except in accordance with Paragraph 9 above, (v) the principal amount of the Bond purchased by the Purchaser, and the principal amount of the loan evidenced thereby, is $[______], [(vi) payments on the Bond shall be made directly by the City to the Purchaser,] (vii) payments under the Bond conform to the loan amortization schedule provided by the Purchaser to the City, (viii) the Bond and the loan evidenced thereby bear interest at a fixed rate throughout the term of the Bond, and (ix) the Purchaser intends to record the Bond as a loan on its books and records. 11. The Purchaser acknowledges and agrees that: (i) the transactions contemplated by the Bond documents are arm’s length, commercial transactions between the Purchaser and the City and that the Purchaser is acting solely as a principal and not acting as a municipal advisor, financial advisor or fiduciary to the City; (ii) the Purchaser has not performed advisory Docusign Envelope ID: 63625FF6-A573-8C61-82F2-1D36F6939B42 Resolution 2026-85, Preliminarily Authorizing the Issuance of Tax Increment Revenue Bond (South Bozeman Technology Tax Increment Financing District) A-3 or fiduciary services to the City with respect to the transactions contemplated by the Bond documents and the discussions, undertakings and procedures leading thereto (irrespective of whether the Purchaser has provided other services or is currently providing other services to the City on other matters); (iii) the Purchaser has financial and other interests that differ from those of the City; and (iv) the Purchaser has consulted its own legal, accounting, tax, financial and other advisors, as applicable, to the extent it has deemed appropriate. 12. The Purchaser: (i) is not acting as an Underwriter with respect to the Bond, (ii) has not contracted with any person pursuant to a written agreement to have such person participate in an initial sale of the Bond to the Public, and (iii) has not agreed with the City pursuant to a written agreement to sell the Bond to persons other than the Purchaser or a related party to the Purchaser. For purposes of this paragraph: (a) Public means any person (i.e., an individual, trust, estate, partnership, association, company, or corporation) other than an Underwriter or a related party. Persons generally are “related parties” for purposes of this certificate if they have more than 50 percent common ownership or control, directly or indirectly. (b) Underwriter means (i) any person that agrees pursuant to a written contract with the City (or with the lead underwriter to form an underwriting syndicate) to participate in the initial sale of the Bond to the Public, and (ii) any person that agrees pursuant to a written contract directly or indirectly with a person described in clause (i) of this paragraph to participate in the initial sale of the Bond to the Public (including member of a selling group or a party to a retail distribution agreement participating in the initial sale of the Bond to the Public. IN WITNESS WHEREOF, I have hereunto set my hand as Purchaser as of this ______ day of ____________, 2026. [_______________________] By: Printed Name:______________________________ Title: Docusign Envelope ID: 63625FF6-A573-8C61-82F2-1D36F6939B42 Certificate Of Completion Envelope Id: 63625FF6-A573-8C61-82F2-1D36F6939B42 Status: Completed Subject: Complete with Docusign: I.6 Resolution 2026-84 Regarding_Pledge_of_Tax_Increment past 15th year... Source Envelope: Document Pages: 13 Signatures: 8 Envelope Originator: Certificate Pages: 4 Initials: 0 Mike Maas AutoNav: Enabled EnvelopeId Stamping: Enabled Time Zone: (UTC-07:00) Mountain Time (US & Canada) Stamps: 4 PO Box 1230 Bozeman, MT 59771 mike.maas@bozemanmt.gov IP Address: 155.190.9.6 Record Tracking Status: Original 9/23/2026 12:56:33 PM Holder: Mike Maas mike.maas@bozemanmt.gov Location: DocuSign Security Appliance Status: Connected Pool: StateLocal Signer Events Signature Timestamp Joey Morrison joey.morrison@bozemanmt.gov Mayor Security Level: Email, Account Authentication (None)Signature Adoption: Drawn on Device Using IP Address: 198.60.110.92 Signed using mobile Sent: 9/23/2026 12:58:58 PM Viewed: 9/23/2026 1:40:31 PM Signed: 9/23/2026 1:40:43 PM Electronic Record and Signature Disclosure: Accepted: 9/23/2026 1:40:31 PM ID: df4b41e4-2e87-4a4b-a801-d281c9aea5ac Greg Sullivan greg.sullivan@bozemanmt.gov City of Bozeman Security Level: Email, Account Authentication (None)Signature Adoption: Pre-selected Style Using IP Address: 155.190.9.4 Sent: 9/23/2026 1:40:45 PM Viewed: 9/24/2026 9:47:42 AM Signed: 9/24/2026 9:47:58 AM Electronic Record and Signature Disclosure: Accepted: 9/24/2026 9:47:42 AM ID: 3211da5f-4ee0-479b-8fa1-9634e9a932f0 Mike Maas mike.maas@bozemanmt.gov City Clerk City of Bozeman Security Level: Email, Account Authentication (None) Signature Adoption: Pre-selected Style Using IP Address: 155.190.9.6 Sent: 9/24/2026 9:48:02 AM Viewed: 9/28/2026 3:21:41 PM Signed: 9/28/2026 3:22:03 PM Electronic Record and Signature Disclosure: Not Offered via Docusign In Person Signer Events Signature Timestamp Editor Delivery Events Status Timestamp Agent Delivery Events Status Timestamp Intermediary Delivery Events Status Timestamp Certified Delivery Events Status Timestamp Carbon Copy Events Status Timestamp David Fine david.fine@bozemanmt.gov Economic Development Manager City of Bozeman Security Level: Email, Account Authentication (None) Sent: 9/23/2026 12:58:56 PM Electronic Record and Signature Disclosure: Not Offered via Docusign Michelle Chapel michelle.chapel@bozemanmt.gov Records Coordinator City Bozeman Security Level: Email, Account Authentication (None) Sent: 9/23/2026 12:58:57 PM Viewed: 9/28/2026 3:57:28 PM Electronic Record and Signature Disclosure: Not Offered via Docusign Witness Events Signature Timestamp Notary Events Signature Timestamp Envelope Summary Events Status Timestamps Envelope Sent Hashed/Encrypted 9/23/2026 12:58:57 PM Certified Delivered Security Checked 9/28/2026 3:21:41 PM Signing Complete Security Checked 9/28/2026 3:22:03 PM Completed Security Checked 9/28/2026 3:22:03 PM Payment Events Status Timestamps Electronic Record and Signature Disclosure ELECTRONIC RECORD AND SIGNATURE DISCLOSURE From time to time, City of Bozeman (we, us or Company) may be required by law to provide to you certain written notices or disclosures. 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Acknowledging your access and consent to receive and sign documents electronically To confirm to us that you can access this information electronically, which will be similar to other electronic notices and disclosures that we will provide to you, please confirm that you have read this ERSD, and (i) that you are able to print on paper or electronically save this ERSD for your future reference and access; or (ii) that you are able to email this ERSD to an email address where you will be able to print on paper or save it for your future reference and access. Further, if you consent to receiving notices and disclosures exclusively in electronic format as described herein, then select the check- box next to ‘I agree to use electronic records and signatures’ before clicking ‘CONTINUE’ within the DocuSign system. By selecting the check-box next to ‘I agree to use electronic records and signatures’, you confirm that: You can access and read this Electronic Record and Signature Disclosure; and You can print on paper this Electronic Record and Signature Disclosure, or save or send this Electronic Record and Disclosure to a location where you can print it, for future reference and access; and Until or unless you notify City of Bozeman as described above, you consent to receive exclusively through electronic means all notices, disclosures, authorizations, acknowledgements, and other documents that are required to be provided or made available to you by City of Bozeman during the course of your relationship with City of Bozeman.