HomeMy WebLinkAboutResolution 2461 Authorizing sale of bonds for SID 632
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COMMISSION RESOLUTION NO. 2461
A RESOLUTION AUTHORIZING AND DIRECTING THE ADVERTISEMENT AND
SALE OF SPECIAL IMPROVEMENT DISTRICT BONDS TO PROVIDE FUNDS
FOR PAYMENT FOR WORK AND MATERIAL IN SPECIAL IMPROVEMENT DIS-
TRICT NO. 632 FIXING THE NUMBER, DATE, DENOMINATION AND MATUR-
ITY OF SUCH BONDS, AND PRESCRIBING THE FORM THEREOF.
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WHEREAS, Special Improvement District No. 632 has been duly created; and
WHEREAS, it is necessary to provide a means for the payment of the con-
tractor or contractors and for the expenses of creating said district; and
WHEREAS, it is necessary that bonds be issued and sold for the payment
thereof.
NOW, THEREFORE, BE IT RESOLVED BY THE SAID COMMISSION OF THE CITY OF
BOZEMAN, MONTANA:
1. FUNDS FOR PAYMENT. That payment for work and labor performed and im-
provements installed in said Special Improvement District shall be met by the
execution and delivery of serial bonds of Special Improvement District No. 632
in an amount not to exceed $80,500.00.
2. BONDS. The bonds shall be in denominations of $100.00 or fractions
or multiples thereof. Each will be dated September 1, 1983, and shall bear in-
terest from said date with interest payable semi-annually commencing with 1
January 1984 and each July 1 and January 1 thereafter until paid. Each of said
bonds shall be due and payable January 1, 2004, unless sooner called for re-
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demption as provided by law. The form of said bonds shall be substantially as
provided by MCA 7-12-4202 and shall be issued in fully registered form.
3. BIDS ON BONDS. The City Commission shall receive sealed bids for
said bonds until July 18, 1983, at 4:00 o'clock p.m., on said date for the
purchase of said bonds.
4. NOTICE OF CALL FOR BIDS. The Clerk of the City Commission is hereby
directed to give notice of the call for bids by publication in each of the four
(4) successive calendar weeks immediately preceding the week which contains the
date of the sale. Said notice shall be published in the Bozeman Daily Chronicle,
a newspaper of general circulation printed and published in the City of Bozeman,
Montana. The Clerk of the City Commission, at least fifteen (15) days before
the date fixed for said sale, shall send a copy of the published Notice to the
Secretary of the State Board of Investments and shall furnish to said Secretary
a transcript of proceedings for the issuance of bonds and such other information
relating thereto as the Secretary may find necessary.
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PASSED AND ADOPTED by the City Commission this 20th day of June 1983.
Mayor
ATTEST:
Clerk of the City commission
COMM~SSION ~ESQLUTION NO. 2461
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State of Montana )
county of Gallatin)
City of Bozeman )
I, Robin L. Sullivan, Clerk of the Commission of the City of Bozeman, do
hereby certify that the foregoing Resolution No. 2461 was published by title
and number in the Bozeman Daily Chronicle, a newspaper of general circulation
printed and published in said City in the issue dated the 17th day of July 1983,
and due proof of such pUblication is on file in my office.
Clerk of the City Cormnission
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COMMISSION RESOLUTION NO. 2461