HomeMy WebLinkAboutResolution 2500 Administration and revolving fees on SIDs
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RESOLUTION NO. 2500
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF BOZEMAN, PROVIDING FOR INCLUSION OF
PARTICULAR COSTS IN SPECIAL IMPROVEMENT
DISTRICTS.
WHEREAS, the City Commission has adopted Commission
Resolution No. 2356, entitled A RESOLUTION OF THE CITY OF
BOZEMAN, MONTANA, PROVIDING FOR FUNDS FOR THE SPECIAL
IMPROVEMENT DISTRICT REVOLVING FUND BY REQUIRING FIVE (5)
PERCENT OF THE IMPROVEMENT COST TO BE AN INITIAL INCIDENTAL
EXPENSE TO BE DEPOSITED IN THE REVOLVING FUND, on October
21, 1981, and Commission Resolution No. 2429, entitled A
RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN
DECLARING IT TO BE THE POLICY TO ASSESS AN ADMINISTRATIVE
CHARGE OF SIX PERCENT (6%) AGAINST ALL SPECIAL IMPROVEMENT
DISTRICTS AT THE TIME OF FINALIZING AND ASSESSING EACH
DISTRICT PURSUANT TO SECTION 7-12-4169, M.C.A.
WHEREAS, the City Commission now desires to combine
and amend the provisions of Commission Resolutions No. 2356
and No. 2429 to provide a comprehensive statement of the
amounts for the Special Improvement District Fund and other
incidental expenses authorized for inclusion in each special
improvement district.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION
OF THE CITY OF BOZEMAN, MONTANA:
Section 1
A. Revolving Fund
1. That, for the purpose of providing funds for the
Special Improvement District Revolving Fund pursuant to
Section 7-12-4222 (a) (ii) and Section 7-12-4169 (2), M.C.A.,
the City shall include in the costs of the improvements
the following amount:
Five percent (5%) of the principal amount of
a district's bond or warrant proceeds.
2. The Director of Finance shall deposit such amount in
the Revolving Fund upon receipt of the bond or warrant
proceeds.
...
B. Incidental Expenses
1. That, for the purpose of recovering the incidental
expenses incurred by the City in the creation and
maintenance of Special Improvement Districts, pursuant to
Section 7-12-4101 (7) and Section 7-12-4179 (1), M.C.A.,
including, but not limited to review, drafting and
administration by the Departments of Law, Finance, Public
Service and the City Manager, printing ~nd advertising, the
City shall include in the costs of the improvements the
following amount:
Three percent (3%) of the lesser of a district's
actual cost of the improvements (minus the five
percent for the Revolving Fund referred to in
Section 1, above) or the amount of the bond or
warrant proceeds.
2. The Director of Finance shall deposit such amount
in the General Fund at the time the actual costs of the
improvements are finalized for inclusion in a district's
assessment resolution.
Section 2
This resolution shall apply prospectively to all
special improvement districts for which bids for the work
have not yet been requested by the City even though the
actual district was created prior to adoption of this
resolution.
Section 3
Commission Resolution No. 2429 shall continue to govern
those special improvement districts which have been created
and for which the City has requested bids for the work
including, but not limited to: Special Improvement
Districts No. 615, 632 and 645 which are presently under
construction.
Section 4
Commission Resolution No. 2356 adopted October 1, 1981,
is hereby repealed.
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PASSED, ADOPTED AND APPROVED by the City Commission of
the City of Bozeman, Montana, at its regular session held on
the
14th
day of May, 1984, and effective thirty (30)
days after said date.
~
Mayor
ATTEST:
(iiL., ~ ~
Clerk of he-City Commission
_. ~VU AS TO fOtiJ
_1l11~ -:5 ,'!fl(q,-!
CIty Attomey--
~T....... T. '. . I,: ,:
7;ul "I ~...
A~ ~on of - CIIr
Coij"liIMk1n of 11M CIff of
~ "..........
...... ~ ............ .... In
....0..1 tmpr...._nt 01'.
lfr,ott-
CIt2'~' Bozeman
$_ of Monlana
CQulUr of G~11n
,I, 'flgpln L. -,n, Clerk of
the.QW c~;of~CIty
of -8:ozamail, Morffln., .do.
her~ certify Ihallh. forlQOl"G
111lhEl true and correct Iltle end
nUmber of CommisSIon Rli$Olu-
tlOO:~o. 2500j:iaseed. end
e~J.8<l al a rltgUlar _Ion
IMl'llcit held on I'" 141h dlIy of
May, i984.
OaUio.lhls 161h dey of Mey,
1981"'"
Roatti L. SULLIVAN
Clerk: of lhe CllyCommlsslon
May -1~
". :-
Affibautt of Jubltndion
I
STATE OF MONTANA, }
County of Gallatin. IS.
.. ...,_Viv,if.. ~?p.rtnelL.__..._..._m__..._... ..................._........"........, being duly sworn,
deposes and say.: That ___Ihe i....m.m......._I:.r..tngj,.d~._t..Q1.~.r.Ji.m_m___m__
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of the Bozeman___,-::'.?:~:.!..........__Chronicle,. newspaper of general ctrcu1ation.
printed and published in Bozeman, Ganatin County, Montana; and that the
notice hereunto annexed (.., B.c..~9.J.Y}!U.9.n_. .NQ.......aSQ.9__m____h.._........_... .......-.-..
"~~._. &_ _.,.~_~ .______ ..._______~~.._.___.__._.+_......_..________......~..._._..___________ol"_..+.______.._.._.._._._......__..___.....
....--.---.-........--..-..-....-.) ,
has been correctly published in the regular and entire issue of every number of said paper....._______n........_m-
for. .....1...... =-HtWlx-....iw.fir.t.i.y,tL__........, the lint of which PUbli~~n ww, ' e on the,nJ.B.~....,..mn.n....
day 01. May----.......--..-- .----..........-....-- 19, and the Jut on the...--........1.-~ __ -.;.!"f.-.-.".".. 1'.8."
....._..._ ... '. :c..z:t.::... ~d.e.................--n......-...n.
Subacribed and .worn to before me this .....__21..t... day Of....r-.c.'.'y.JiJfI.y...------.-.-...........--:;;....1L4
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Bozeman, Montana
RACHEL BENNETT
NOTARY PU.3L1C fa' the State of Montana
Residinp In c C'l'!lTla n. Mon lana
My Commission Expires JUly 6, 1984