HomeMy WebLinkAboutResolution 2561 Prescribing repayment of bonds for SID 647: 7-08-85
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RESOLUTION NO. 2561
RESOLUTION RELATING TO $900,000 SPECIAL IMPROVEMENT DISTRICT NO.
647 BONDS; PRESCRIBING THE FORM AND TERMS AND THE COVENANTS OF
THE CITY FOR THE PAYMENT THEREOF.
BE IT RESOLVED by the City Commission of the City of Bozeman, Montana, as follows:
Section 1. Recitals. It is hereby found, determined and declared
as follows: I
1.01. Resolution of Intention. By Resolution No. 2543, adopted
February 19, 1985,
this Commission declared its intention to create an extended Special Improvement District No.
647 for the purpose of making special improvements for the special benefit of the district,
which resolution designated the number of the district. described the boundaries thereof, and
stated the general character of the improvements to be made and an approximate estimate of
the costs thereof, In accordance with the provisions of Montana Code Annotated, Title 7,
Chapter 12, Parts 41 and 42. By that resolution this Commission also declared its intention to
cause the cost and expense of making such improvements to be assessed against the properties
included within the boundaries of the district, each lot or parcel of land to be assessed for
that part of the whole cost which the length of its abatement bears to the front footage of the
entire district, exclusive of streets, avenues, alleys and public places.
1 .02. Notice. Notice of the passage of Resolution No. 2543 was given
by five publica-
tions in the Bozeman Daily Chronicle, a daily newspaper published within the City.
The notice
described the general character of the improvements proposed to be made, stated the estimated
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cost of the improvements, designated the time when and the place where the City Commission
would hear and pass upon all protests made against the making of such improvements or the
creation or extension of such district, and referred to the resolution of intention, designated
above. as being on file In the office of the Clerk of the Commission for the description of the
boundaries of the district, all as provided in the resolution of intention. Notice of
the
passage of Resolution No. 2543 was mailed the same day the notice was first published to all
persons, firms or corporations or the agents thereof having real property within the proposed
district listed in their names upon the last completed assessment roll for state, county and
school district taxes, at their last known addresses.
1.03 Creation of District. At the time and place specified
in the notice hereinabove
described, this Commission met to hear, consider and pass upon all protests made against the
making of such improvements for the creation of the district, and after consideration thereof,
it was determined and declared that insufficient protests against the creation or extension of
the district or the proposed work had been filed in the time and manner provided by law by
the owners of the property to be assessed for the improvements, and the Commission did
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therefore by Resolution No. 2550, adopted April 1, 1985. create Special I mprovement District
No. 647, and did order the proposed improvements in accordance with the resolution of
intention designated in paragraph 1.01 hereof.
COMMISSION RESOLUTION NO. 2561
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1 .04. Construction Contract. Plans, specifications, maps, profiles
and surveys for
construction of said improvements were prepared by the engineers acting for the City, and
were thereupon examined and approved by this Commission. An advertisement for bids for
construction of said improvements was published in the official newspaper of the City on March
3, 10 and 13, ca IIing for bids to be received on March 25, 1985, after which the bids thereto-
I fore received were opened and examined. After referring the bids to the engineers for the
City it was determined that the lowest regular proposal for the furnishing of all work and
materials required for constructing the improvements in accordance with the approved plans
and specifications was the proposal of Long Construction Company, of Billings, Montana, at a
total contract price for the improvements in Special Improvement District No. 647 of
$648,472 .50, based upon unit prices specified by the bidder and upon quantities of work and
materials estimated in the plans and specifications. A contract for construction of the
improvements was therefore awarded to said bidder, subject to the right of owners of property
liable to be assessed to elect to take the work and enter into a written contract therefor in the
manner provided by Montana Code Annotated, Section 7-12-4147, which election the property
owners failed to make, whereupon the City and the successful bidder entered into a written
contract for construction of the improvements upon the bidder having executed and filed bonds
satisfactory to this Commission and in the form and manner provided by Montana Code Annotated,
Title 18, Chapter 2, Part 2.
I 1.05 Costs. It Is currently estimated that the cost and expense connected with
and
incidental to the formation of the improvement district to the City, including costs of
preparation of plans, specifications, maps, profiles, engineering superintendence and
inspection, preparation of assessment rolls, expenses of making the assessments, the cost of
work and materials under the construction contract, and all other costs and expenses,
including the deposit of proceeds in the Special Improvement District Revolving Fund of the
City, will be $900,000, which will be levied and assessed upon all property within the
improvement district on the basis described in the resolution of intention. This Commission
has jurisdiction and is required by law to levy and assess such amount, to collect such special
assessments and credit the same to the special improvement district fund created for the
district, which fund is to be maintained on the official books and records of the City separate
from all other City funds, to be used solely for payment of Interest when due on the bonds
herein authorized and for redemption of such bonds in order of their registration whenever
and as often as the balance In said fund after payment of interest due is sufficient for the
purpose.
I 1 .06. Sale of Bonds. For the purpose of financing the District's share
of the cost and
expense of making the improvements, which is to be assessed against the property within the
District, this Commission called for the sale of bonds in the principal amount of $900,000.
After a public sale noticed and conducted in accordance with applicable statutory provisions,
the Commission rejected all bids. The sale of the bonds was awarded to Dain Bosworth
Incorporated, of Denver, Colorado through a negotiated sale.
COMMISSION RESOLUTION NO. 2561
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1 .07. Recital. All acts, conditions and things required by the Constitution
and laws
of the State of Montana, including Montana Code Annotated, Title 7, Chapter 12, Parts 41 and
42, in order to make the bonds herein authorized valid and binding special obligations In
accordance with their terms and In accordance with the terms of this resolution have been
done, do exist, have happened and have been performed in regular and due form, time and
manner as so required.
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Sect Ion 2. Special Improvement District No. 647 Bonds.
2.01. Principal Amount, Maturity, Denominations, Date, Basic Interest Rates.
For the
purpose of paying the costs and expenses incurred in construction of the improvements
authorized to be constructed In Special Improvement District No. 647, and In anticipation of
the collection of special assessments to be levied therefor, and In accordance with the public
offering described In Section 1.06, the City of Bozeman shall forthwith Issue and deliver to the
purchasers Its Special Improvement District No. 647 Bonds in the aggregate principal amount of
$900,000 (the Bonds), payable solely from the Special Improvement District No. 647 Fund (the
District Fund). The Bonds shall be originally dated and registered as of June 1, 1985, and
shall mature on January 1, 2005, subject to redemption and prepayment prior thereto In
accordance with Section 2.06, and shall be Issued In the form of fully registered bonds. Each
of the Bonds shall represent one or more principal Installments of the issue, shall be Issuable
In the denomination of $5,000 each or any integral multiple thereof within a single basic
interest rate. Principal Installments of the Issue are numbered from 1 through 180, each in
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the amount of $5.000. The bonds shall bear basic interest from their date of registration until
called for redemption or paid in full at the rates per annum set forth below opposite the
principal installments each represents:
Principal
Basic
Installments Rate
-
1 - 158
6.750%
159 - 160
7.500
161 - 162
8.000
163 - 164
8.500
165 - 166
8.750
167
9.000
168
9.250
169
9.500
170
9.625
171
9.750
172
9.875
173 - 174
10.000
175
10.125
176 - 177
10.250
178 - 180
10.375
Principal of and interest on the Bonds are payable in lawful money of the United States
of America.
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2.02. Additional Interest Certificates. Bonds representing principal
installments
numbered 4 through 180 shall bear additional interest from August 1, 1985 to January 1, 1987,
at the rate of 2. 13% per annum. Additional interest on the Bonds shall be represented by
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separate additional interest certificates (the Certificates). One or more Certificates shall
be
issued to represent all additional interest to be paid on all Bonds on each additional interest
payment date; provided that all such Certificates shall represent an integral multiple of
five-hundredth of one percent (.05%) of the additional interest payable on said date.
The
Certificates shall be dated as of June 1, 1985.
I 2.03. Method of Payment. The Bonds and the Certificates shall be issuable
only in
fully registered form, and the ownership of the Bonds and the Certificates shall be transferred
only upon the bond register of the City hereinafter described. The basic interest on, and
upon presentation and surrender thereof, the principal amount of each Bond, or the amount
represented by each Certificate, upon presentation and surrender thereof at the principal
office of the Registrar, shall be payable by check or draft issued by the Registrar (as
hereinafter defined).
2.04 Interest Payment Dates. Basic interest on the Bonds shall
be payable on January
1 and July 1 in each year, commencing January 1, 1986, to the owner of record thereof as of
the close of business on the fifteenth day of the immediately preceding month, whether or not
such day is a business day. Additional interest on the Bonds shall be payable on January 1,
1986, July 1, 1986 and January 1, 1987, to the extent the Bonds have not been paid prior
thereto, to the registered owners of the Certificates.
I 2.05. Registration. The City hereby appoints the First Interstate Bank
of Billings,
N .A., in Billings, Montana to act as bond registrar, transfer agent and paying agent (the
Registrar) . The City reserves the right to appoint itself, a bank, trust company or fiscal
company as successor bond registrar, transfer agent or paying agent, as authorized by the
Model Public Obligations Registration Act of Montana (the Act), but the City agrees to pay the
reasonable and customary charges of the Registrar for the services performed. This Section
2.05 shall establish a system of registration for the bonds and the Certificates as defined in
the Act.
The effect of registration and the rights and duties of the City and the Registrar with
respect thereto shall be as follows:
(a) Bond Register. The Registrar shall keep at its principal office a bond
register in which the Registrar shall provide for the registration of
ownership of Bonds and Certificates and the registration of transfers of
I Bonds and Certificates entitled to be registered or transferred.
(b) Transfer. Upon surrender for transfer of any Bond or Certificate duly
endorsed by the registered owner thereof or accompanied by a written
instrument or transfer, in form satisfactory to the Registrar, duly
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executed by the registered owner thereof or by an attorney duly
authorized by the registered owner in writing, the Registrar shall
authenticate and deliver, in the name of the designated transferee or
transferees, one or more new Bonds of a like aggregate principal
amount and maturity, as requested by the transferor, or a new
Certificate of like interest rate and payment date, as the case may be.
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The Registrar may, however, close the books for registration of any
transfer if the Bond to be transferred has been called for redemption
on the next succeeding interest payment date. No transfer or exchange
of a Bond shall affect its order of registration for purposes of
redemption pursuant to Section 2.06.
(c) Exchange of Bonds or Certificates. Whenever any Bond or Certificate
is surrendered by the registered owner for exchange, the Registrar
shall authenticate and deliver one or more new Bonds of a like
aggregate principal amount and maturity, or Certificate representing
additional interest to be paid at the same rate and on the same date, as
requested by the registered owner or the owner's attorney duly
authorized in writing.
(d) Cancellation. All Bonds and Certificates surrendered upon any transfer
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or exchange shall be promptly cancelled by the Registrar and thereafter
disposed of as directed by the City.
(e) Improper or Unauthorized Transfer. When any Bond or Certificate
is
presented to the Registrar for transfer, the Registrar may refuse to
transfer the same until it is satisfied that the endorsement on such
Bond, Certificate or separate Instrument of transfer is valid and
genuine and that the requested transfer is legally authorized.
The
Registrar shall incur no liability for the refusal, In good faith, to make
transfers which it, in its judgment, deems Improper or unauthorized.
( f) Persons Deemed Owners. The City and the Registrar may treat the
person in whose name any Bond or Certificate is at any time registered
in the bond register as the absolute owner of such Bond or Certificate,
whether such Bond or Certificate shall be overdue or not, for the
purpose of receiving payment of, or on account of, the principal of and
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interest on such Bond or the amount of such Certificate and for all
other purposes, and all such payments so made to any such registered
owner or upon the owner's order shall be valid and effectual to satisfy
and discharge the liability upon such Bond to the extent of the sum or
sums so paid.
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(g) Taxes, Fees and Charges. For every transfer of Bonds and
Certificates or exchange of Bonds or Certificates (except an exchange
upon a partial redemption of a Bond), the Registrar may impose a
charge upon the owner thereof sufficient to reimburse the Registrar for
any tax, fee or other governmental charge required to be paid with
I respect to such transfer or exchange.
(h) Mutilated, Lost, Stolen or Destroyed Bonds or Certificates.
In case
any Bond or Certificate shall become mutilated or be destroyed, stolen
or lost, the Registrar shall deliver a new Bond or Certificate of like
amount, number, maturity date and tenor in exchange and substitution
for and upon cancellation of any such mutilated Bond or Certificate or
in lieu of and in substitution for any such Bond or Certificate
destroyed, stolen or lost, upon filing with the Registrar of evidence
satisfactory to it that such Bond or Certificate was destroyed. stolen or
lost, and of the ownership thereof, and upon furnishing to the
Registrar an appropriate bond or indemnity in form, substance and
amount satisfactory to it, in which both the City and the Registrar
shall be named as obligees. All Bonds or Certificates so surrendered
to
the Registrar shall be cancelled by it and evidence of such cancellation
I shall be given to the City. I f the mutilated, destroyed, stolen
or lost
Bond or Certificate has already matured or such Bond has been called
for redemption in accordance with its terms, it shall not be necessary
to issue a new Bond or Certificate prior to payment.
(i) Date of Authentication. The Registrar shall place the date of
authentication on each bond.
2.06. Redemption. Whenever there is any balance in the District Fund after
payment
of the interest due on all Bonds drawn against it, the Director of Finance shall call in for
payment outstanding Bonds or principal installments thereof in the order of their registration
in an amount which, together with the interest thereon to the date of redemption, will equal
the amount of the District Fund on that date. For purposes of redemption, the order of
registration of the Bonds shall correspond to the order of the numbers of the principal
installments represented by the Bonds. Bonds representing more than one principal
installment may be redeemed in part. in one or more whole principal installments, and upon
I such partial redemption. a new Bond or Bonds will be delivered to the registered owner
without charge, representing the remaining principal installments outstanding. The date of
redemption shall be fixed by the Director of Finance, who shall give notice, by publication
once in a newspaper published in the City and by written notice to the holder or holders of
such Bonds at their addresses appearing in the bond register, of the numbers of the principal
COMMISSION RESOLUTION NO. 2561
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installments and Bonds to be redeemed and the date on which payment will be made, which
date shall be not less than ten days after the date of publication or of service of notice. The
Director of Finance shall at the same time mail notice of the redemption to the original
purchaser of the Bonds, Dain Bosworth Incorporated, of Denver, Colorado. On the date so
fixed interest on the Bonds or principal installments thereof so redeemed shall cease.
2.07. Form of Bonds and Certificates. The Bonds and the Certificates shall be drawn
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in substantially the forms set forth in Montana Code Annotated, Section 7-12-4202, with such
modifications as are permitted by the Act, as more fully set forth in Exhibit A hereto and by
this reference made a part hereof.
2.08. Execution, Registration and Delivery of Bonds and Certificates. The Bonds
and
Certificates shall be prepared under the direction of the Clerk of the Commission and shall be
executed on behalf of the City by the signatures of the City Manager and the Clerk of the
Commission and sealed with the official seal of the City; provided that the seal and all
signatures may be printed, engraved or lithographed facsimiles of the originals and the seal
need not appear on the Certificates. In case any officer whose signature or a facsimile of
whose signature shall appear on the Bonds or Certificates shall cease to be such officer before
the delivery of any Bond or Certificate, such signature or facsimile shall nevertheless be valid
and sufficient for all purposes, the same as if he had remained in office until delivery.
Notwithstanding such execution, no Bond or Certificate shall be valid or obligatory for any
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purpose or entitled to any security or benefit under this resolution unless and until a
certificate of authentication and registration on such Bond or Certificate has been duly
executed by the manual signature of an authorized representative of the Registrar.
Certificates of authentication and registration on different Bonds and Certificates need not be
signed by the same representative. The executed certificate of authentication and registration
on each Bond and Certificate shall be conclusive evidence that it has been authenticated and
delivered under this Resolution. The Bonds shall be registered in order of their serial
numbers by the Director of Finance, or Registrar, as attested by the certificate of
authentication and registration, as of June 1, 1985, and the Bonds and Certificates shall be
delivered by the Registrar to the original purchaser upon payment of the par value of the
Bonds plus accrued interest from the registration date to the date of such delivery and
payment. The purchaser shall not be obligated to see to the application of the purchase
price, but from the proceeds of the Bonds the Director of Finance shall credit forthwith
$45,000 to the Special I mprovement District Revolving Fund of the City, as authorized by
Montana Code Annotated, Section 7-12-4169(2), and the balance of such proceeds to the Special
Improvement District No. 647 Fund, to be used solely for the payment of the cost and
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expenses necessarily incurred In the completion of the improvements heretofore ordered, except
that the accrued interest received shall be applied In payment of interest on the Bonds when
due.
COMMISSION RESOLUTION NO. 2561
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Sect ion 3. Special Improvement District No. 647 Fund; Assessments.
3.01. District Fund. There is hereby created and established the
District Fund
designated as "Special Improvement District No. 647 Fund," which shall be maintained by the
Director of Finance on the books and records of the City separate and apart from all other
funds of the City. Within the District Fund there shall be maintained separate accounts,
I designated as the II Bond Account" and "I nterest Account," respectively. Upon
the collection
of the installment of principal and interest due on November 30 and May 31 of each year on
the special assessments to be levied with respect to the improvements in the district, the
Director of Finance shall credit to the I nterest Account in the District Fund so much of said
special assessments as is collected as interest payment. Any installment of any special
assessment paid prior to its due date with interest accrued thereon to the nearest bond call
date shall be credited with respect to principal and interest payments in the same manner as
other assessments are credited to the District Fund. All moneys in the I nterest Account
and
the Bond Account shall be used first to pay interest due, and any remaining moneys shall be
used to pay Bonds. Redemption of Bonds therefrom shall be in order of the principal
installments they represent as provided in Section 2.06, and interest shall be paid as accrued
thereon to the date of redemption, in accordance with the provisions of Montana Code
Annotated, Sections 7-12-4203 and 7-12-4206.
3.02. Loans from Revolving Fund. The Commission shall annually
or more often if
I necessary issue an order authorizing a loan or advance from the Special Improvement District
Revolving Fund to the District Fund in an amount sufficient to make good any deficiency then
existing in the Interest Account in the District Fund, and shall issue an order authorizing a
loan or advance from the Revolving Fund to the District Fund in an amount sufficient to make
good any deficiency regarding the payment of mature bonds then existing in the Bond Account
of the District Fund, to the extent that moneys are available in the Revolving Fund.
Pursuant
to Resolution No. 2562, the City has undertaken and agreed to provide funds for the
Revolving Fund by levying such tax or making such loan from the General Fund as authorized
by Montana Code Annotated, Section 7-12-4222. In the event that the balance on hand in the
Revolving Fund fifteen days prior to any date when interest is due on special improvement
district bonds of the City is not sufficient to make good all deficiencies then existing in the
improvement district fund for which the City has promised to make loans from the Revolving
Fund, the balance on hand in the Revolving Fund shall be allocated to the funds of the
improvement districts in which such deficiencies then exist In proportion to the amounts of the
deficiencies on the respective dates of receipt of such money, until all interest accrued on
such special improvement district bonds of the city has been paid. On any date when
all
I accrued interest on special improvement district bonds of the City payable from funds for
which the City has promised to make loans from the Revolving Fund has been paid, any
balance remaining in the Revolving Fund shall be loaned or advanced to the improvement
district fund for payment and redemption of mature bonds to the extent the Improvement
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district fund is deficient for such purpose, in an amount proportionate to the amount of such
deficiency.
Section 4. Covenants. The City of Bozeman covenants and agrees
with the holder
from time to time of each of the Bonds and Certificates that until all the Bonds and interest
thereon are fully paid:
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4.01. Compliance with Resolution. The City will hold the District
Fund and the Special
Improvement District Revolving Fund described above as trust funds, separate and apart from
all of its other funds, and the City, its officers and agents, will comply with all covenants and
agreements contained in this resolution. The provisions hereinabove made with respect to the
District Fund and the Revolving Fund are in accordance with the undertaking and agreement
of the City made in connection with the public offering of the Bonds.
4.02. Construction of Improvements. The City will do all
acts and things necessary to
enforce the provisions of the construction contract and bonds referred to in Section 1.04 and
to ensure the completion of the improvements for the benefit of Special Improvement District
No. 647 In accordance with the plans and specifications and within the time therein provided,
and will pay all costs thereof promptly as incurred and allowed, out of the District Fund and
within the amount of the bond proceeds appropriated thereto.
4.03. Levy of Assessments. The City will do all acts and things
necessary for the I
final and valid levy of special assessments upon all property within the boundaries of Special
Improvement District No. 647 in accordance with the Constitution and laws of the State of
Montana and the Constitution of the United States, in an aggregate principal amount of the
entire cost associated with the formation of the special Improvement district and the
construction of the improvements as described in paragraph 1.05 hereof. Such special
assessments shall be levied on the basis prescribed in the resolution of intention described
above, and shall be payable in semiannual installments over a period of twenty years, each
installment being due in an amount equal to one-fortieth of the principal amount of each
assessment, except the final installment due on November 30, 2004, which shall be due In an
amount equa I to one-twentieth of the principal amount of each assessment, with interest on the
whole amount remaining unpaid at the rate or rates borne by the Bonds, interest being
payable with principal installments. The assessments to be levied will be payable on the 30th
day of November in each of the years 1985 through 2004, and on the 31 st day of May in the
years 1986 through 2004, inclusive, if not theretofore paid, and shall become delinquent on
such date unless paid in full. The first partial payment of each assessment shall include
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interest on the entire assessment from the date of original registration of the Bonds to January
1, 1986, and each subsequent partial payment shall include interest for six months on that
payment and the then remaining balance of the special assessment. The assessments shall
constitute a lien upon and against the property against which they are made and levied, which
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lien may be extinguished only by payment of the assessment with all penalties, cost and
interest as provided in Montana Code Annotated, Section 7-12-4191. No tax deed issued with
respect to any lot or parcel of land shall operate as payment of any installment of the
assessment thereon which is payable after the execution of such deed, and any tax deed so
issued shall convey title subject only to the lien of said future installments, as provided in
I Montana Code Annotated, Section 15-18-309.
4.04. Reassessment. If at any time and for whatever reason any
special assessment or
tax herein agreed to be levied is held invalid, the City and this Commission, its officers and
employees, will take all steps necessary to correct the same and to reassess and relevy the
same, including the ordering of work, with the same force and effect as if made at the time
provided by law, ordinance or resolution relating thereto, and will reassess and relevy the
same with the same force and effect as an original levy thereof, as authorized in Montana Code
Annotated, Section 7-12-4186. Any special assessment, or reassessment or relevy shall, so far
as is practicable, be levied and collected as it would have been if the first levy had been
enforced including the levy and collection of any interest accrued on the first levy.
4.05. Absence of litigation. There is now no litigation to the
best knowledge of the
City threatened or pending questioning the validity or regularity of the creation of Special
Improvement District No. 647, the contract for construction of improvements for the benefit
I thereof or the undertaking and agreement of the City to levy special assessments therefor and
to make good any deficiency In the collection thereof through the levy of taxes for and the
making of advances from the Special Improvement District Revolving Fund, or the right and
power of the City to issue the Bonds or in any manner questioning the existence of any
condition precedent to the exercise of the City's powers in these matters. I f any such
litigation should be initiated or threatened, the City will forthwith notify in writing the
original purchaser of the Bonds, Dain Bosworth Incorporated, and will furnish the original
purchaser a copy of all documents, including pleadings, in connection with such litigation.
Sect ion 5. Investment of Moneys.
5.01. Covenant. The City covenants and agrees with the holders from time
to time of
the Bonds that it will not take or permit to be taken by any of its officers, employees or
agents any action that would cause the interest on the Bonds to become subject to taxation
under the provisions of the Internal Revenue Code of 1954, as amended (the Code), and the
Treasury regulations promulgated thereunder in effect at the time of such action, and
covenants and agrees that it will take or cause its officers, employees or agents to take any
I action within its or their powers to prevent the interest on the Bonds from becoming subject to
taxation under the Code and applicable Treasury Regulations.
5.02. Certification. The City Manager, the Clerk of the Commission
and the Director
of Finance, being the officers of the City charged with the responsibility for issuing the
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Bonds, are authorized and directed to execute and deliver to the original purchaser a
certification in accordance with the provisions of Section 103(c) of the Code and Treasury
Regulations, Sections 1.103-13, -14, and -15, stating the facts, estimates and circumstances in
existence on the date of issue and delivery of the Bonds which make it reasonable to expect
that the proceeds of the Bonds will be used in a manner that would not cause the Bonds to be
arbitrage Bonds within the meaning of Section 103(c) of the Code and applicable Treasury I
Regulations. The certification shall further state that to the best of the knowledge and belief
of the certifying officers no other facts, estimates or circumstances exist which would
materially change this expectation.
Sect ion 6. Authentication of Transcript. The officers
of the City are hereby
authorized and directed to furnish to the original purchaser of the Bonds, and to the
attorneys approving the legality thereof, certified copies of all proceedings relating to the
issuance of the Bonds and such other certificates and affidavits as may be required to show
the right, power and authority of the City to issue the Bonds and the Certificates, and all
statements contained in and shown by such instruments, including any heretofore furnished,
shall constitute representations of the City as to the truth of the statements purported to be
shown thereby.
Sect ion 7. Effective Date. This resolution shall be in full
force and effect from and
after its passage.
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PASSED AND ADOPTED by the City Commission of the City of Bozeman, Montana, this
8th day of July 1985.
KENNETH L. WEAVER, Mayor
ATTEST:
ROB I N L. SU LLlV AN
Clerk of the Commission
State of Montana )
County of Gallatin : ss.
City of Bozeman )
I, Robin L. Sullivan, Clerk of the Commission of the City of Bozeman, do hereby
certify that the foreging Resolution No. 2561 was published by title and number in the
Bozeman Daily Chronicle, a newspaper of general circulation printed and published in said
City, in the issue dated the 11 th day of July 1985, and due proof of such publication is on
fi Ie in my office.
I
I N WITNESS WHEREOF, I hereunto set my hand and affix the corporate seal of my
office this 30th day of July 1985.
Clerk of the City Commission
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