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HomeMy WebLinkAboutResolution 3429 Library General Obligation Bond on mail ballot . -. -. ---- COMMISSION RESOLUTION NO. 3429 A RESOLUTION OF THE CITY COMMISSION SUBMITTING TO THE QUALIFIED ELECTORS OF THE CITY OF BOZEMAN, MONT ANA, THE QUESTION OF ISSUING GENERAL OBLIGATION BONDS IN THE AMOUNT OF FOUR MILLION AND NO/100 DOLLARS ($4,000,000) FOR THE PURPOSE OF ACQUIRING LAND FOR AND DESIGNING, CONSTRUCTING AND EQUIPPING EITHER A NEW PUBLIC LIBRARY OR DESIGNING, CONSTRUCTING AND EQUIPPING AN EXPANSION OF THE EXISTING LIBRARY, AND PAYING COSTS ASSOCIATED WITH THE SALE AND ISSUANCE OF THE BONDS RECIT ALS WHEREAS, the Bozeman Public Library (the "Library") was constructed in 1981; and WHEREAS, the current Library contains 21,000 square feet; and WHEREAS, a recent study completed by consulting librarian David Smith indicates that the Library needs 49,000 square feet to meet the needs of the community; and WHEREAS, the Library has outgrown its current location and must relocate or expand in order to meet these needs; and WHEREAS, a city or town is authorized pursuant to Section 7-7-4221, M.C.A., to issue general obligation bonds pledging the general credit of the City for that purpose upon approval of the electorate of the city or town, provided that such indebtedness will not cause the total indebtedness of the city to exceed 28% of the taxable valuation of the city ascertained by the last assessment for state and county taxes, plus (A) an additional 33% of the taxable value of class eight property within the city for tax year 1995, multiplied by 28%, plus (8) an additional 50% of the taxable value of telecommunications property under Section 15-6-141, M.C.A., within the city for tax year 1999, multiplied by 28%, plus (C) an additional 50% of the taxable value attributable to electrical generation property under Section 15-6-141, M.C.A., within the city for tax year 1999, multiplied by 28%; and WHEREAS, a city commission is authorized pursuant to Section 7-7-4223, M.C.A., to call a bond election by adopting a resolution to that effect; and WHEREAS, pursuant to Section 13-19-104, M.C.A., such election can be conducted by a mail ballot election; and WHEREAS, the City Commission (the "Commission") of the City of Bozeman, Montana (the "City") has determined that a mail ballot election conducted in accordance with the provisions of Title 13, Chapter 19, Parts 1-3, M.C.A. (the "Mail Ballot Act"), is in the best interests of the City and the electors thereof, and will notify the County Election Administrator of its intent to conduct a mail ballot election; and - --.. .-.. -...-.- - .______._n_ _._ WHEREAS, the Election Administrator will prepare a mail ballot election plan in accordance with the provisions of Section 13-19-205, M.C.A. (the "Mail Ballot Plan"); and WHEREAS, the Commission has determined that the need does exist for a new pUblic library; and WHEREAS, the estimated costs of acquiring land for and designing, constructing and equipping either a new public library or designing, constructing and equipping an expansion of the existing library is estimated to be Ten Million and No/100 Dollars ($10,000,000); and WHEREAS, the City is willing to fund costs of a new or expanded library in the amount of Four Million and No/100 Dollars ($4,000,000); and WHEREAS, the Commission has determined that the issuance of general obligation bonds in an amount not to exceed $4,000,000 will not cause the City to exceed its general statutory indebtedness limitation, which as currently calculated is $7,206,209; and WHEREAS, the Commission has determined there should be submitted to the electors of the City qualified to vote at bond elections the question of whether or not the Commission shall be authorized to issue and sell general obligation bonds of the City in order to obtain funds for the purpose of acquiring land for and designing, constructing and equipping either a new public library or designing, constructing and equipping an expansion of the existing library and paying costs associated with the sale and issuance of general obligation bonds in the maximum amount of $4,000,000; and WHEREAS, it is the judgment and determination of the Commission that such bonds will be payable during a term not to exceed twenty (20) years and shall be redeemable on any interest payment date after one-half of the term for which they are issued. NOW, THEREFORE, BE IT RESOLVED By the Commission of the City as follows: 1. Calling of the Election. The Commission of the City hereby calls and directs a special election to be held in the City on June 28, 2001, for the purpose of voting on the question of whether or not the Commission shall be authorized to issue and sell General Obligation Bonds of the City, in the amount of up to Four Million and No/100 Dollars ($4,000,000), for the purpose of acquiring land for and designing, constructing and equipping either a new public library or designing, constructing and equipping an expansion of the existing library and paying costs associated with the sale and issuance of the bonds. The bonds shall be payable over a period of not to exceed twenty (20) years and shall bear interest at a rate not to exceed the rate to be determined by the Commission at the time of the sale. 2. Conduct of Election. All qualified electors of the City shall be entitled to vote at the bond election. Pursuant to Section 13-19-202, M.C.A., the Clerk of the Commission is hereby authorized and directed to give notice of the call and details of this election to the -2- County Election Administrator upon passage of this resolution and in circumstance no later than 70 days prior to the proposed election date. The County Election Administrator shall conduct the election in accordance with the Mail Ballot Plan. The County Election Administrator is hereby requested and authorized to give proper notice of the close of registration and thereafter prepare printed lists of the electors in the City entitled to vote in the election in the City in the form and manner prescribed by law and consistent with the Election Plan. The County Election Administrator shall prepare the ballot and arrange for the printing of the ballot. 3. Notice of Election. The Election Administrator is hereby authorized and requested to cause notice of the call and holding of the election to be given by publishing notice at least once a week for the three consecutive weeks before the election in the Bozeman Daily Chronicle, a newspaper of general circulation in the City. The notice of election as published shall read substantially as follows: -3- --..----------.. -......----.---- NOTICE OF BOND ELECTION City of Bozeman, Montana June 28, 2001 NOTICE IS HEREBY GIVEN by the City Commission (the "Commission") of the City of Bozeman, Montana (the "City"), that pursuant to a certain resolution duly adopted at a regular meeting of the Commission on March 26, 2001, an election of the registered voters of the City will be held on June 28, 2001, for the purpose of voting on the question whether or not the Commission shall be authorized to issue and sell general obligation bonds of the City in the amount of Four Million and No!100 Dollars ($4,000,000), for the purpose of acquiring land for and designing, constructing and equipping either a new public library or designing, constructing and equipping an expansion of the existing library and paying costs associated with the sale and issuance of the bonds. The bonds shall bear interest at a rate not to exceed the rate to be determined by the Commission at the time of the sale, payable semiannually during a term of not to exceed twenty (20) years and redeemable on any interest payment date after one-half of their term. The election will be conducted solely by mail ballot. Ballots will be mailed to all eligible registered voters in the City on June 7, 2001, and must be returned by each voter, by mail or in person to the County Election Administrator's Office, Gallatin County, 311 West Main Street, Bozeman, Montana 59715 during regular business hours (8:00 a.m. to 5:00 p.m.), weekdays, June 8, 2001 through June 27, 2001. On Election Day, June 28, 2001, the only place for deposit of voted ballots will be 311 West Main Street, Bozeman, Montana, which will be open from 7:00 a.m. to 8:00 p.m., and all ballots must be in that office by 8:00 p.m. in order to be counted. All ballots will be tallied in the County Election Administrator's Office after 8:00 p.m. on June 28, 2001. A qualified voter who will be absent from the City during the time the election is being conducted may: (a) vote in person in the County Election Administrator's Office as soon as the ballots are available and until noon on June 6, 2001; or (b) make a written request prior to noon on June 6, 2001, signed by the applicant and addressed to the County Election Administrator's Office, requesting that the ballot be mailed to an address other than that which appears on the registration records. All ballots to be mailed will be mailed no later than June 7, 2001. An elector may obtain a replacement ballot if his ballot is destroyed, spoiled, lost, or not received by the elector by personally appearing at the County Election Administrator's Office and by: -4- --- -- ---..-------... ----- -....---...-. - ....--.-.--------...-- .___..._... ..n.. ..._.___ (a) signing an affidavit form stating the reason for the request for replacement; and (b) if the reason given for replacement is uspoiled ballot," by returning the spoiled ballot to the County Election Administrator's Office. DATED this day of , 2001. Publish: June 3, 2001 June 10, 2001 June 17, 2001 -5- 4. Ballots. The County Election Administrator is hereby requested to prepare suitable ballots for use at the election. 5. Form of Ballot. The ballot shall be printed in substantially the following form: -6- OFFICIAL BALLOT CITY OF BOZEMAN, MONT ANA GENERAL OBLIGATION BOND ELECTION TO BE CONDUCTED BY MAIL BALLOT ON JUNE 28, 2001 INSTRUCTIONS TO VOTERS: Make an X or similar mark in the vacant square before the words IIBONDS-- YES" if you wish to vote for the bond issue; if you are opposed to the bond issue make an X or similar mark in the square before the words IIBONDS--NO". Shall the Commission be authorized to issue and sell general obligation bonds of the City in the amount of Four Million and No/100 Dollars ($4,000,000), bearing interest at a rate to be determined by the Commission after a competitive sale, payable semiannually during a term of not to exceed twenty (20) years and redeemable on any interest payment date after one-half of their term, for the purpose of acquiring land for and designing, constructing and equipping either a new public library or designing, constructing and equipping an expansion of the existing library, and paying costs associated with the sale and issuance of the bonds? - L-/ BONDS -- YES - L-/ BONDS -- NO -7- -------- 6. That a copy of this resolution will be provided to the Election Administrator as soon as possible after its adoption and approval in order to inform him/her of the details of the election and the pertinent requests and authorizations as to the conduct of the election. Passed and approved this 26th day of March, 2001. ~6re MARCIA B. YOUN M N, Mayor ATTEST: ~ 2~ ROBIN L. SULLIVAN Clerk of the Commission -8-