HomeMy WebLinkAboutResolution 2098 Funds for Revolving Fund
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c::n&1ISSIOO" RE3JUJfICN 00. 2098
A RE3JWTIOO" PURSUANT 10 STA'IU'ICRY PROVISICNS, SEITING a.rr THAT THE CITY
<:x:X.JOCIL UNDERTAKES AND AGREES TO ISSUE ORDERS ANNUALLY AUlH)RIZIN:; LOANS OR
ADVANCE FRCM THE REVOLVING ACXDUNT 10 TIIE EXIENI' FUNDS ARE AVAIIABLE AND 10
PROVIDE FUNDS FCR suaI REYOLVIN:; FUND BY MAKIl'C TAX LEVY AND LOANS AS THE
C!)UN;IL DETERMINES NKESSARY.
WHEREAS, the Council of the City of Bozeman, MOntana, did on the 11th day of July, 1979, I
pas. s a Resolution, creating Speci~l Improvement District No. 598 for the purpose ,of c~nst~ucting
sanitary sewers, water and sewer lmprovements, and other appurtenances thereto, ln sald Clty;
and,
WHEREAS, the said Council did on the 8th day of September, 1931, create a Special Improve-
ITent District Revolving Fund under the provisions of Section 7-12-4221 of the Mbntana Code
Annotated, 1978, as amended; and
WHEREAS, on the 8th day of August, 1979, Grande & Corrpany agreed to purchase the bonds to
be issued by said District, upon condition that the Council 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 Council with respect to said revolving fund and special improvement district.
rnv, THEREFORE, BE IT RESOLVED by the Ci ty Counci 1 of the Ci ty 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 specifically referred
to the Council hereby undertakes and agrees to issue orders, annually authorizing loans or advances
fram 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 Mbntana Code Annotated, 1978, as
amended, by annually making such tax levy (or, in lieu thereof, such loan frern the general fund)
as the Council shall detennine to be required to provide the funds sufficient for the purposes I
herein expressed, subject to the maxirrum 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 Mbntana Code Annotated, 1978, as amended.
PASSED AND AOOPTED this 11th day of Septenber, 1979.
ATTEST:
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Cl erk of the Ci ty Corrmi s on
State of ~~ntana )
County of Gallatin)
City of Bozeman )
I, Erna V. Harding, Clerk of the City Commission of the City of Bozeman, do hereby certify
that the foregoing Resolution No. 2098 was published by number and title in the Bozeman Daily
Chronicle, a newspaper of general circulation printed and published in said City, in the issue
dated the 21st day of September, 1979, and due proof of such publication is on file in ITo/ office. I
IN WITNESS WIEREOF I hereunto set my hand and affix the corporate seal of my office this
12th day of December, 1979.
~I(~~
Clerk of the Ci ty _Corrmiss
CThMISSICN RESOLurlOO 00. 2098
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