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HomeMy WebLinkAboutResolution 2220 Authorizing annual loans or advance from Revolving Funds: 8-20-80 --.. .-... - _. -112 COMMISSION RESOLUTION NO. 2220 A RESOLUTION PURSUANT TO STATUTORY PROVISIONS, SETTING OUT THAT THE CITY COMMISSION UNDERTAKES AND AGREES TO ISSUE ORDERS ANNUALLY AUTHORIZING LOANS OR ADVANCE FROM THE REVOLVING ACCOUNT TO THE EXTENT FUNDS ARE AVAILABLE AND TO PROVIDE FUNDS FOR SUCH REVOLVING FUND BY MAKING TAX LEVY AND LOANS AS THE COMMISSION DETERMINES NECESSARY. I WHEREAS, the City Commission of the City of Bozeman, Montana, pass a Resolution, creat- ing Special Improvement District No. 616 for the purpose of paving streets, constructing curbs, gutters and sidewalks, installing street signs, water valves, manholes, and other appurtenances hereto, in said City; and, WHEREAS, the said Commission did on the 8th day of September, 1931, create Special Improvement District Revolving Fund under the provisions of what is now Section 7-12-4221 of the Montana Code Annotated, 1978, as amended; and, WHEREAS, on the 18th day of June, 1980, Grande & Company agreed to purchase the bonds to be issued by said District, upon condition that the Commission enter into the undertakings and agreements hereinafter set forth; and, WHEREAS, it is necessary and appropriate that the following undertakings and agreements be made by said Commission with respect to said revolving fund and special improvement dis- trict. NOW THEREFORE, BE IT RESOLVED by the City Commission of the City of Bozeman, Montana, that in connection with the issuance of Special Improvement District Bonds to be issued to defray the cost of the improvements in the Special Improvement District hereinbefore specific- ally referred to the Commission hereby undertakes and agrees to issue orders, annually author- I izin9 loans or advances from the revolving fund to the district fund of said district in amounts sufficient to make good any deficiency in the principal and interest accounts thereof to the extent that funds are available, and hereby further undertakes and agrees to provide funds for such revolving fund pursuant to the provisions of Section 7-12-4222(1) of the Montana Code Annotated, 1978, as amended, by annually making such tax levy (or, in lieu thereof, such loan from the general fund) as the Commission shall determine to be required to provide the funds sufficient for the purposes herein expressed, subject to the maximum limitations imposed by said Section 7-12-4222(1). The undertakings and agreements provided for herein are made pursuant to the provisions of Section 7-12-4225, of the Montana Code Annotated, 1978, as amended. PASSED AND ADOPTED this 20th day of August, 1980. MAYOR ATTEST: ~~~ I p . (' ..... - . 4:.",.,f";Y?~ A q-" ..'?9'" CLERK OF THE CITY C~SION State of Montana ) County of Gallatin) City of Bozeman ) COMMISSION RESOLUTION NO. 2220 .~-. ..- ..---'_._,. 113 I, Erna V. Harding, Clerk of the Commission of the City of Bozeman do hereby certify that the foregoing Resolution No. 2220 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 22nd day of September , 1980, and due proof of such publication I is on file in my office. I I COMMISSION RESOLUTION NO. 2220 -.... .--- -- -.- -.