HomeMy WebLinkAboutResolution 3570 Award bid for Series 2003A bonds
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RESOLUTION NO. 3570
RESOLUTION RELATING TO $1,685,000 GENERAL
OBLIGATION BONDS, SERIES 2003A; AWARDING THE
SALE THEREOF AND APPROVING THE OFFICIAL
STATEMENT RELATING THERETO
BE IT RESOLVED by the City Commission (the "Commission")
of the City of
Bozeman, Montana (the "City"), as follows:
1.
This Commission on December 16, 2002, adopted a resolution providing
for the public sale of $1 ,685,000 General Obligation Bonds, Series 2003A (the "Bonds") to
finance the costs of a Project described therein. Notice of the sale has been duly published in
accordance with Montana Code Annotated, Sections 7-7-4252 and 17-5-106. Pursuant to the
notice of sale, ~ sealed bids for the purchase of the Bonds were received at or before the time
specified for receipt of bids. The bids have been opened and publicly read and considered, and
the purchase price, interest rates and net interest cost under the terms of each bid have been
determined.
2.
The bid of D.A.Davidson & Co. , of Bozeman
Montana
,
(the "Purchaser"), attached as Exhibit A, to purchase the Bonds is hereby determined to comply
with the notice of sale and to be the most favorable bid received for the purchase of the Bonds.
The bid of the Purchaser is hereby accepted and the sale of the Bonds is hereby awarded to the
Purchaser. The bid security ofthe Purchaser shall be retained pending payment for the Bonds
and the bid security of all other bidders shall be returned forthwith.
3.
The Mayor and the Clerk of the Commission are hereby authorized and
directed to execute on behalf ofthe City a contract for the sale of the Bonds with the Purchaser.
4.
The Preliminary Official Statement relating to the Bonds, dated
December 31, 2002, is hereby approved. The officers of the City are hereby authorized and
directed to execute such certificates as may be appropriate concerning the accuracy,
completeness and sufficiency of the Official Statement and to deliver to the Purchaser within
seven business days after the date of adoption of this resolution copies of the Official Statement
in accordance with the Notice of Sale, supplemented so as to contain the terms of the Bonds as
set forth in this resolution and the reoffering and other information provided by the Purchaser for
inclusion in the Official Statement.
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5. This Commission shall prescribe the form and
security for the Bonds in a
subsequent resolution.
PASSED by the City Commission of Bozeman, Montana, this 13th day of
January, 2003.
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Clerkofthe -C<?!Timission
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(SEAL)
APPROVED AS TO FORM:
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BID FORM
SALE DATE: January
13, 2003
TO: Mr. Clark Johnson, City Manager
City of Bozeman, Montana
Bozeman City Hall
411 East Main Street
Bozeman, MT 59771-0640
(406) 582-2300
RE: $1,685,000 General Obligation Bonds, Series 2003A
For the Bonds of this Issue which shall mature and bear interest at the respective annual rates,
as follow, we offer a price of $ I,!"b 8, / S"O (Note: This amount may not be less
than $1,663,095) and accrued interest to "the date of delivery.
i,A5 % 2004
d17t; % 2009
3,7 ;s- % 2014 1/, ~
% 2018
1.30 % 2005
3.)~ % 2010
lJ ,0{) % 2015 Ii
gO % 2019
1.70 % 2006
3, ;2.'7 % 2011
tf,~O % 2016 1./. 35
% 2020
;). )0 % 2007
3SV % 2012
V.?O % 2017 t.j. 1/0 %
2021
2.50 % 2008
3. tp c; % 2013
In making this offer we accept all of the terms and conditions of the Terms and Conditions of Sale
published in the Official Statement dated December 31, 2002.
In the event of failure to deliver these
Bonds in accordance with the Terms and Conditions of Sale as printed in the Official Statement and
made a part hereof, we reserve the right to withdraw our offer, whereupon the deposit accompanying it
will be immediately returned. All blank spaces of this offer are intentional and are not to be construed as
an omission.
Subject to any applicable exemption in the Rule, this offer to purchase/bid is subject to the City covenant
and agreement to take all steps necessary to assist us in complying with SEC Rule 15c2-12, as
amended.
Not as a part of our offer, the above quoted prices being controlling, but only as an aid for the verification
of the offer, we have made the following computations:
NET INTEREST COST: $ ,33/?5'-!.3f?
TRUE INTEREST RATE: 6,9'179
%
Account Members
V5/JunK. Apt/' J;.J-k7
D.a.O(llJ~iG)
Account~nager ,
s;y)'l,())ifu1-t!O ~IA\JP
Phone: 3nlrJ/t1 ~~3oo'l
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The foregoing offer is hereby accepted by the City on the date of the offer by its following
officers dU~ authorized .and empowered to make such r;!!1:cy~
yor Clerk
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SURE-BID Good Faith Check Submitted
CERTIFICATE AS TO RESOLUTION
I, the undersigned, being the duly qualified and acting recording officer of City of
Bozeman, Montana (the "City"), hereby certify that the attached resolution is a true copy of a
Resolution entitled: "RESOLUTION RELATING TO $1,685,000 GENERAL OBLIGATION
BONDS, SERIES 2003A; AWARDING THE SALE THEREOF AND APPROVING THE
OFFICIAL STATEMENT RELATING THERETO" (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 at a regular meeting on January 13,2003, 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:
Commissioners Youngman. Hietala,
Brown and Cetraro. and Mayor Kirchhoff
; voted against the
same: None
; abstained from voting
thereon: None
; or were absent: None
WITNESS my hand and seal officially this l.4.t.Q day of January, 2003.
(SEAL)
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Clerk of the Commission
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