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HomeMy WebLinkAboutResolution 3571 Award bid for Series 2003 B bonds ---=-~ RESOLUTION NO. 3571 RESOLUTION RELATING TO GENERAL OBLIGATION REFUNDING BONDS, SERIES 2003B; 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 up to $3,485,000 General Obligation Refunding Bonds, Series 2003B (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 of the 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. n..______________ .------.-...-. ---... , . 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. " /(-~~1 MaYor ~Z~ Clerk ofthe..Commission - . ~. (SEAL) - . APPROVED AS TO FORM: 2 ~,.. 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: $3,485,000* General Obligation Refunding Bonds, Series 2003B For the Bonds of this Issue which shall mature and bear interest at the respective annual rates, as follow, we offer a price of $ 5, tJ 5~{p 35 (Note: This amount may not be less than $3,453,635) and accrued interest to the date of delivery. /.30 % 2005 ~. So % 2008 330 % 2011 3., &b % 2013 /,70 % 2006 ~,70 % 2009 3. </? % 2012 ""$, "7.5 % 2014 ~.IO % 2007 3,/6 % 2010 * Preliminary; subject to change. 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: $ <6 ;?.If, 7 g 1..)-. /7 TRUE INTEREST RATE: 3. ? (,;:to % Account Members U> I?>a.n k- ;?;pL4' -Ta IfY- a I i) D" LalJ7~6}'- ~ ~. Account M1nager B011. ol{YU rjjj (\. (l ~IA Vf Phone: LjO(p -d.~ ~-.J(]O~ .............................................................................................,........................................ .................. The foregoing offer is hereby accepted by the City on the date of the offer by its following office~~ authorized .and empow~o make SUCh~:t ~ , K:~ Clerk SURE-BID Good Faith Check Submitted ~ - - ------ . . of) 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 GENERAL OBLIGATION REFUNDING BONDS, SERIES 2003B; 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 YOlJngmnn. Hip.tnln. 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.li.th. day of January, 2003. (SEAL) "- {JLex! ~ Clerk of the Commission .- - -.- - . - .-.--...--.- ,.-..