HomeMy WebLinkAboutResolution 3499 Sale of General Obligation bonds for Library
COMMISSION RESOLUTION NO. 3499
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN,
MONTANA, RELATING TO $2,315,000 GENERAL OBLIGATION BONDS, SERIES
2001A; AWARDING THE SALE THEREOF AND APPROVING THE OFFICIAL
STATEMENT RELATING THERETO.
BE IT RESOLVED by the City Commission of the City of Bozeman, Montana (the "City").
as follows:
1.
This Commission on November 19, 2001, adopted a resolution providing for the
public sale of $2,315,000 General Obligation Bonds, Series 2001 A (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 17~5.1 06. Pursuant to the notice
of sale, four
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 true interest cost under the terms of each bid have been determined.
2.
The bid of
RBC Dain Rauscher
Corporation of Denver, Colorado
(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 of the City a contract for the sale of the Bonds with the
Purchaser.
4.
The Preliminary Official Statement relating to the Bonds. dated November 28.
2001. 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.
5.
This Commission shall prescribe the form and security for the Bonds in a
subsequent resolution.
PASSED AND ADOPTED by the City Commission of the City of Bozeman. Montana. at
a regular session thereof held on the 10th day of December 2001.
MAR~~kr .~-,~~~
ATTEST:
~~~
R - ~- - b' - A -
Clerk of th1,-~COrft!i1~ss.ton
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12110/2001
11: 24 9209931254
SPRHIGSTED ~iE WI PAGE
03
(~'5 1- >;2.3~ 3DOr).
erD FORM
5ALIii DATE: De("A'!rnb~r W, 2001
TO:
Mr. Clark Johnson, City Manager
City ()f eo%cman, Ml')ntana
\~\)~u
Bozeman City Hall
411 ~ast Main Stn!let
Bnl-aman, MT 09771-0640
(406) 58,-?::\()n
RE;
$2.315,000 G8n8ral Obligation flr)fll.h." 31!:rio5 2001A
For the Bonds of this ISAU8 Whic~shal~t~e ?!Jd bear interest at the rellip~ctivp.
annu~1 mtes,
as follow. we offer' a price Qf $ /2 " ()). 00 (Note: Thi$ ~ll1ount mAY nol be
Ip.~:~
than $2,284.905) find accrued interest tn tlm date of dr:U....Ary.
3, -;- % 2003
L-/ 0 % 2000
L.! . L-( G
" ~...% 201~
. % 201#3
'3,-)
% 2004
L../ . () % 2009
,(, '-f % 2014
L(,9 <'h, 2019
:3 7 )'~/I) 2005
J-[O %) 2010
_!:L '->_% 201~ LI. c:; ). % 2020
1__!- 0
% 2006 '-J. 1 % 2011
Lf. ~ % 2016 )/0 -
% :;.>021
~ ........---~ -
Lj.J
Oft, 2007 t;, '1~ % 2012
_ V. (') % 2017
~..---...._..
,.-..-
In making this offer we ar:c;ept all of the term$ and r.onditlorl!; of the TermS
of Propo$al publl!;h~d in the
official Stat~I'T1t'!.1J! natad NQvember 2B, 2001, In the even~ nf failure to (lttllvt;,r
t!1@86 Eklnds Ir. HGcordc"";';j
with th~ N('Jtica of Band Sale as fuintflld in the .QffIr:i;tilL$t~m.enI. and made
8 Pliilrt hereof, wE! 'e$~tv~ thA
right to withdraw our offer, whereupoh the deposit ~'"::t':o"l~nying It will b8immediately
return~ All bllilnk
spaces of tlllti urfer 8rt;! IllttfntiQl1al "nd ~rl:l n!;lt to be Qunliltrued as
an omi&.ion.
SutJJect !O Bny appllc<lble exemption In the "UI8, thi~ Qffer to pllllJh1illllclbid
IE 1jubj~~ to the City (;ovenflnt
::1nn ~orl'!p.l'l'lent to tak.. all sters necA$sery to <:I!':sil'>t U$ In complyinQ
with Sf:C RUle 15c2-12. as arnendl'!d,
N....t Q'5 a pmt ('Jf ()ur off9r. thfl Ahnve quoted prires hp.lng controlling.
but only as an aid for the verification
of the offer, we h~"e made the following computationI'.:
NET INTEREST COST:
It__ I l 2]> ?___l~ 7_1. __08_
TRUE INTERES. RATE:
Lj, 70 0 S-:IO
A ccount>>erntw!!
'K13 ~121}16L:&tc;~~..-
G~~~nagel
j. -. ..
BY _ ~~.,.. ._"__....i. .C~~-=----
Phone: -"_~_"2Y)-..J~~L-
. . . . . . . . . . . _ _ _ _ _ ~ _ ^ _ . ~ . . . . . . . . . . . . . _ _ _' ..
.. I .. . . . . . . . r , _ _ _ . . . . . . . . . I ~ ~ . . . . . . It. . . .. . . . . . . . - - !. " . . . , . . . . . . .. . .. . . . . . ~ . . . . . .. . . . . . ~ ' - . ,;. . .
j , . . I . ~ . . " .
The foregoing offer Is heraby accepted by the City on ttle date 01 ttlt! Qrrer
bV il5 f()lIowlng
offi('pr~ duly t'I"'~hnri7{j and ",mpowprf?d to m~k", f:ur..h Vr.rtR~C'Y ~
~~ ~---
Ma or ClArk
L SURE-BID ~
Good t-:ai1h Check Suhmitted
T JT ~~?nnp,p.~~TQq
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