HomeMy WebLinkAboutFinal Adoption of ordinance 1857, Establishing the Trails, Open Space and Parks Committee Commission Memorandum
REPORT TO: Honorable Mayor and City Commission FROM: Mitch Overton, Director of Bozeman Parks and Recreation Department
SUBJECT: Second Reading and Final Adoption of Ordinance No. 1857 Establishing
the Trails, Open Space, and Parks Committee.
MEETING DATE: March 18, 2013
AGENDA ITEM TYPE: Consent
RECOMMENDATION: Upon Review of Ordinance No. 1857, recommend that City
Commission finally adopt the ordinance establishing the Trails,
Open Space, and Parks Committee and duties within.
SUGGESTED MOTION: I move to finally adopt Ordinance No. 1857 establishing the Trails,
Open Space, and Parks (TOP) Committee.
BACKGROUND:
On July 16, 2012 the city commission passed Resolution No. 4386 which submitted to the
qualified electors of the city of Bozeman, the question of issuing general obligation bonds in the
amount of up to fifteen million and no/100 dollars ($15,000,000.00). The use of said bond funds
were noted to be for the purpose of “on open space lands, designing, constructing or equipping trails, parks and natural areas or multi-use recreational fields and facilities, or for the use in the
preservation or enhancement of water quality, and paying the costs of acquiring rights to or
interests in or improving open-space lands in or near the city”. Furthermore, Resolution No.
4386 states that use of said bond funds may “include necessary or appropriate infrastructure for
the use, enjoyment, or functioning of such lands or facilities and the operation, maintenance, repair, management, or planning of such lands or facilities; or paying costs associated with the
sale and issuance of such bonds”.
On November 6, 2012 the qualified electors approved the above question of issuing general
obligation bonds for the purposes stated. Furthermore, within Resolution No. 4386 Section 1.02 Commission Findings, subsection L states the Commission “may designate an advisory board or committee to assist in the establishment of such guidelines and to review and make
recommendations to the Commission on proposals for use of funds”.
UNRESOLVED ISSUES: None ALTERNATIVES: City Commission may choose not to appoint an advisory board or
committee.
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FISCAL EFFECTS: The establishment of a TOP has no fiscal effects other than staff time
associated with the TOP.
Attachments: Ordinance 1857
Resolution No. 4386
Report compiled on:
3/6/13
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ORDINANCE NO. 1857
Page 1 of 6
ORDINANCE NO. 1857
AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF
BOZEMAN, MONTANA PROVIDING THAT THE BOZEMAN
MUNICIPAL CODE BE AMMENDED BY ADDING CHAPTER 2,
ARTICLE 5, DIVISION 19 OF SAID CODE PROVIDING FOR THE
CREATION OF THE TRAILS, OPEN SPACE, AND PARKS (TOP) BOND
REVIEW COMMITTEE AND ESTABLISHING THE DUTIES AND
RESPONSIBILITIES THEREOF.
WHEREAS, On July 16, 2012 the City Commission of Bozeman, Montana
approved Resolution No. 4386 to allow the qualified electors of the City of Bozeman,
Montana, to decide upon the question of issuing general obligation bonds in the amount
of up to fifteen million and no/100 dollars ($15,000,000.00) for various purposes related
to parks, trails, and open space; and
WHEREAS, on November 6, 2012 the qualified electors voted to permit the City
to issue said bonds; and
WHEREAS, in Resolution No. 4386 the City Commission committed to the
designation of an advisory board or committee to review and make recommendations to
the Commission on proposals for use of parks, trails and open space bond funds.
NOW THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION
OF THE CITY OF BOZEMAN, MONTANA:
Section 1
That the table of contents for Chapter 2, Article 2, be revised to include Division 19
(Trails, Open Space, and Parks Committee).
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ORDINANCE NO. 1857
Page 2 of 6
Section 2
That a new division be added to Chapter 2, Article 2, Bozeman Municipal Code to read
as follows:
“Sec. 2.05.3100. - Purpose and intent.
The purpose and intent of this division is to provide for a parks, trails and open
space bond review committee consisting of citizens, community leaders, and
experienced professionals; to advise the city commission on parks, trails and open
space development possibilities and to assist in the implementation of the City of
Bozeman 2012 Parks, Trails, and Open Space Bond as adopted by Resolution No.
4386 and approved by the voters on November 6, 2012.
Sec. 2.05.3010. - Creation; powers, duties and authority; membership.
A. Creation; powers, duties and authority.
The city commission creates the trails, open space, and parks (TOP) committee
and authorizes the TOP to exercise the following powers and duties:
1. Assist the city commission in the establishment of procedures and guidelines
for the evaluation of projects for which funds are proposed to be expended.
2. Review and make recommendations to the city commission on proposals for
use of parks, trails, and open space bond funds.
3. Adopt bylaws for the operation of the committee, subject to the approval of
the city commission.
4. The TOP may have such other duties and responsibilities as directed by the
city commission.
B. Actions advisory only.
The actions of the TOP shall be advisory only and shall not constitute policy of the
city and shall not be binding upon the city commission or upon the city. The
commission may adopt all or any part of any recommendation of the TOP, with or
without any changes made by the city commission as city policy.
C. Members; appointments and terms.
1. All appointments to the TOP shall be made by the city commission.
2. One voting member shall be a member of the recreation and parks advisory
board (RPAB). The RPAB may make a recommendation on appointment of its
member to TOP.
3. The director of the Bozeman parks and recreation department shall serve as an
ex-officio member of the TOP.
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ORDINANCE NO. 1857
Page 3 of 6
4. There shall be five (5) members of the TOP committee. The terms of the initial
five members shall be as follows:
One (1) member to serve for one (1) year, two (2) members to serve for two (2)
years, and two (2) members to serve for three (3) years from the date of their
appointment. After initial terms, TOP members shall serve three (3) year
staggered terms. Each member may be reappointed with a three (3) term
limitation on the number of reappointments. Vacancies shall be filled in the
same manner as original appointments for the balance of the term remaining.
5. The city commission shall affirm one commissioner to act as liaison between the
TOP and city commission.
6. A TOP member shall receive no compensation for the member's service. TOP
members shall be entitled to previously authorized expenses, including travel
expenses, incurred during the discharge of duties.
7. TOP members shall reside within the city limits of Bozeman and shall have
expertise in such areas as finance, real estate, landscape architecture, public
health, planning, or law.
8. A TOP member may be removed by a majority vote of the commission at any
time for any reason.
D. Office of agency; staff support.
The TOP shall maintain its records in the office of the city staff person designated by
the city manager to assist the TOP. The staff person so designated shall attend most
meetings of the TOP and will be responsible to assist the TOP in the scheduling of
meetings, preparation and distribution of agendas and meeting minutes and perform
other supportive functions that may be considered reasonable in the execution of the
duties of the TOP. The staff person may also serve as the liaison between the
committee, the city manager and the city commission.
E. Meetings; election of officers.
1. The TOP shall hold meetings as it deems necessary to execute its powers and
duties as provided in this section.
2. The TOP shall adopt bylaws enabling it to elect officers, set officer terms, and
establish regular meeting times.
F. Duration.
The TOP shall remain in effect as long as necessary to achieve the goals of the
committee.
G. Ethics provisions.
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ORDINANCE NO. 1857
Page 4 of 6
All TOP activities and members are subject to all other provisions of this Code,
including article 3, division 4 of this chapter, pertaining to the code of ethics.
H. State law applicable.
All meetings of the TOP shall be subject to the state's open meeting laws and may
not be held with less than 48 hour notice. All written and electronic communication
and information shall be considered a public record and subject to disclosure
pursuant to state law.”
Section 3
Repealer.
All provisions of the ordinances of the City of Bozeman in conflict with the
provisions of this ordinance are, and the same are hereby, repealed and all other
provisions of the ordinances of the City of Bozeman not in conflict with the provisions of
this ordinance shall remain in full force and effect.
Section 4
Savings Provision.
This ordinance does not affect the rights and duties that matured, penalties that
were incurred or proceedings that were begun before the effective date of this ordinance.
All other provisions of the Bozeman Municipal Code not amended by this Ordinance
shall remain in full force and effect.
Section 5
Severability.
That should any sentence, paragraph, subdivision, clause, phrase or section of this
ordinance be adjudged or held to be unconstitutional, illegal, or invalid, the same shall
not affect the validity of this ordinance as a whole, or any part or provision thereof, other
than the part so decided to be invalid, illegal or unconstitutional, and shall not affect the
validity of the Bozeman Municipal Code as a whole.
Section 6
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ORDINANCE NO. 1857
Page 5 of 6
Codification.
This Ordinance shall be codified as indicated in Sections one (1) and two (2).
Section 7
Effective Date.
This ordinance shall be in full force and effect thirty (30) days after final
adoption.
#### End of Ordinance except for signature page ####
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ORDINANCE NO. 1857
Page 6 of 6
PROVISIONALLY PASSED by the City Commission of the City of Bozeman,
Montana, on first reading at a regular session held on the _____ day of
________________, 2013.
_________________________________
SEAN A. BECKER, MAYOR
ATTEST:
____________________________________
STACY ULMEN, CMC
City Clerk
FINALLY PASSED, ADOPTED AND APPROVED by the City Commission
of the City of Bozeman, Montana on second reading at a regular session thereof held on
the ___ of ____________________, 2013. The effective date of this ordinance is
__________, __, 2013.
_________________________________
SEAN A. BECKER, MAYOR
ATTEST:
_______________________________
STACY ULMEN, CMC
City Clerk
APPROVED AS TO FORM:
_____________________________
GREG SULLIVAN
City Attorney
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CERTIFICATE AS TO RESOLUTION AND ADOPTING VOTE
I, the undersigned, being the duly qualified and appointed City Clerk of the City of Bozeman,
Montana (the “City”), hereby certify that the attached resolution is a true copy of a Resolution entitled: “A RESOLUTION OF THE CITY COMMISSION SUBMITTING TO THE QUALIFIED ELECTORS OF THE CITY OF BOZEMAN, MONTANA, THE QUESTION OF ISSUING
GENERAL OBLIGATION BONDS IN THE AMOUNT OF UP TO FIFTEEN MILLION AND
NO/100 DOLLARS ($15,000,000.00) FOR THE PURPOSE OF ON OPEN SPACE LANDS DESIGNING, CONSTRUCTING OR EQUIPPING TRAILS, PARKS AND NATURAL AREAS OR MULTI-USE RECREATIONAL FIELDS AND FACILITIES, OR FOR USE IN THE
PRESERVATION OR ENHANCEMENT OF WATER QUALITY, AND PAYING THE COSTS
OF ACQUIRING RIGHTS TO OR INTERESTS IN OR IMPROVING OPEN-SPACE LANDS IN OR NEAR THE CITY (SUCH AS LANDS FOR TRAILS IN AND AROUND THE BRIDGER MOUNTAIN FOOTHILLS), TO INCLUDE NECESSARY OR APPROPRIATE
INFRASTRUCTURE FOR THE USE, ENJOYMENT, OR FUNCTIONING OF SUCH LANDS OR
FACILITIES AND THE OPERATION, MAINTENANCE, REPAIR, MANAGEMENT, OR
PLANNING OF SUCH LANDS OR FACILITIES; AND PAYING COSTS ASSOCIATED WITH THE SALE AND ISSUANCE OF SUCH BONDS” (the “Resolution”), on file in the original records of the City in my legal custody; that the Resolution was duly adopted by the City Commission at a
regular meeting on July 16, 2012, and that the meeting was duly held by the City Commission and
was attended throughout by a quorum, pursuant to call and notice of such meeting given as required
by law; and that the Resolution has not as of the date hereof been amended or repealed.
I further certify that, upon vote being taken on the Resolution at said meeting, the following
Commission Members voted in favor thereof: Mayor Becker, Commissioner Mehl, Commissioner
Andrus, and Commissioner Taylor; those Commissioners who voted against the same: Deputy Mayor
Krauss.
WITNESS my hand and seal officially this __ day of July, 2012.
(SEAL)
Stacy Ulmen, CMC
Bozeman City Clerk
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RESOLUTION NO. 4386
A RESOLUTION OF THE CITY COMMISSION SUBMITTING TO THE QUALIFIED ELECTORS OF THE CITY OF BOZEMAN, MONTANA, THE QUESTION OF ISSUING GENERAL OBLIGATION BONDS IN THE AMOUNT OF UP TO FIFTEEN MILLION AND NO/100 DOLLARS ($15,000,000.00) FOR THE
PURPOSE OF ON OPEN SPACE LANDS DESIGNING, CONSTRUCTING OR
EQUIPPING TRAILS, PARKS AND NATURAL AREAS OR MULTI-USE RECREATIONAL FIELDS AND FACILITIES, OR FOR USE IN THE PRESERVATION OR ENHANCEMENT OF WATER QUALITY, AND PAYING THE COSTS OF ACQUIRING RIGHTS TO OR INTERESTS IN OR IMPROVING
OPEN-SPACE LANDS IN OR NEAR THE CITY (SUCH AS LANDS FOR TRAILS IN AND AROUND THE BRIDGER MOUNTAIN FOOTHILLS), TO INCLUDE NECESSARY OR APPROPRIATE INFRASTRUCTURE FOR THE USE, ENJOYMENT, OR FUNCTIONING OF SUCH LANDS OR FACILITIES AND THE
OPERATION, MAINTENANCE, REPAIR, MANAGEMENT, OR PLANNING OF
SUCH LANDS OR FACILITIES; AND PAYING COSTS ASSOCIATED WITH THE SALE AND ISSUANCE OF SUCH BONDS.
BE IT RESOLVED By the City Commission (the “Commission”) of the City of Bozeman, Montana (the “City”) as follows:
Section 1. Recitals
1.01.
.
Authorization
a) A city as a public body is authorized pursuant to Section 76-6-109, MCA, to sell and issue general obligation bonds in the manner and within the limitations prescribed by applicable laws of
Montana for the purpose of acquiring and improving open-space land and other property consistent
with the provisions of Title 76, Chapter 6, Part 1, MCA (the “Act”). Section 76-6-104 of the Act
defines open-space land as any land that is provided or preserved for: park and recreational purposes; conservation of land or other natural resources; historic or scenic purposes; or assisting in the shaping of the character, direction, and timing of community development. Moreover, Section 76-6-109(e) of
the Act provides that a city may, in connection with real property acquired or designated for the
purposes of the Act, provide or arrange for construction, maintenance, operation, or repair by any
person or agency, public or private, of services, privileges, works, streets, roads, public utilities, or other facilities or structures that may be necessary to the provision, preservation, maintenance, and
management of the property as open-space land.
.
b) A city is authorized pursuant to Section 7-7-4221, Montana Code Annotated, to issue
general obligation bonds pledging the general credit of the city for any purpose authorized by law, upon approval of the electorate of the city, provided that such indebtedness will not cause the total
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indebtedness of the city to exceed 2.5% of the total assessed value of taxable property of the city, determined as provided in Section 15-8-111, MCA, ascertained by the last assessment for State and
county taxes. A city is authorized pursuant to Section 7-7-4223, MCA, to call a bond election by
adopting a resolution to that effect.
1.02. Commission Findings
a) The City’s 2007 Parks, Recreation, Open Space, & Trails (PROST) Plan, was unanimously adopted by the Commission and created with considerable public input. PROST identifies
parks, trails, and open spaces as the top recreation priority for City residents, and called for
the City to consider a bond for the purchase of trails and parkland.
. In adopting this Resolution, the Commission finds that:
b) The PROST plan, and City residents and staff also have identified a number of places
needing improved trails or connections, parks, recreation fields, and water quality protection.
c) The Commission at the beginning of 2012 made a bond for parks, trails, and recreation one of its top priorities.
d) The City does not have a dedicated fund for acquisition and improvements of public parks,
trails, and recreation fields.
e) Investments in the City’s parks, trails, recreation fields, and in preserving water quality along
creek and stream corridors will enhance the City’s public health, create safe, accessible
opportunities for outdoor recreation and transportation, help attract and retain businesses,
improve the sense of community by creating outdoor gathering spaces, and increase property values.
f) The City is hampered in its ability to host large outdoor sports tournaments due to the lack of
recreation fields and adequate facilities and the Bozeman Tourism Business Improvement District identified “limited sport/event fields and facilities” as one of the missed opportunities in the City.
g) The City’s Economic Development Plan repeatedly notes the importance of maintaining and
building upon the City’s high quality of life as both an economic attractant and as a way to help existing businesses grow and prosper.
h) During the City’s Economic Summit held in March, 2012, local business leaders highlighted
“quality of life” – which includes recreational opportunities, cultural and natural amenities – as well as education and a diversified economy as one of the best economic attributes of the region.
i) Business and academic literature increasingly cite the importance of quality of life for
attracting businesses in fields such as computers, entertainment, optics, and
Biotechnology – sectors the City has identified as candidates for future economic growth. j) Numerous studies have shown that parks and open space increase the value of neighboring
residential property.
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k) Now is an advantageous time to pursue a parks and trails bond because of relatively low land prices in combination with low borrowing costs; both factors which mean that taxpayer bond
dollars will provide a higher return on investment.
l) Should the electors approve the sale of bonds, the Commission shall, by resolution, establish guidelines for the evaluation of projects for which funds are proposed to be expended and may designate an advisory board or committee to assist in the establishment of such
guidelines and to review and make recommendations to the Commission on proposals for use
of funds. m) The expenditure of funds on lands and facilities within the City or immediately adjacent to
and annexable to the City will be the highest priority for funding and that the expenditure of
funds on lands and facilities not immediately adjacent to but near the City provides direct
health and economic benefits to the citizens of the City and as such funds may be expended on projects outside and near the City which are not annexable (such as connecting trails from the City to National Forest or State lands and adjacent communities, and for preserving lands
outside the City that protect water quality within the City) as long as the projects benefit the
citizens of Bozeman.
n) It to be appropriate that the funds pay for an approved project’s transactions costs including
costs associated with appraisals, realtors, attorneys, documents, filing, and other similar
costs.
1.03. Proposed Project
1.04.
. The Commission determines there should be submitted to the electors of the City qualified to vote at bond elections the question of whether the Commission shall
be authorized to sell and issue bonds of the City in one or more series to obtain funds for the purpose
of on open space lands designing, constructing or equipping trails, parks and natural areas or multi-use recreational fields and facilities, or for use in the preservation or enhancement of water quality, and paying the costs of acquiring rights to or interests in or improving open-space lands in or near the
City (such as lands for trails in and around the Bridger Mountain foothills), to include necessary or
related, infrastructure for the use, enjoyment, or functioning of such lands or facilities and the
operation, maintenance, repair, management, or planning of such lands or facilities; and paying costs associated with the sale and issuance of such bonds, which bonds shall bear interest at rates to be determined by the Commission at the time of sale, payable semiannually during a term not to exceed
twenty (20) years for each series of bonds.
Estimated Cost
1.05.
. The estimated costs of acquiring rights to or interest in or improving
open-space lands in or near the City and all associated costs described in the ballot question below, and costs associated with the sale and issuance of the bonds, are Fifteen Million and No/100 Dollars
($15,000,000.00). It is proposed that the City issue up to Fifteen Million and No/100 Dollars
($15,000,000.00) of its general obligation bonds for such purpose.
Debt Limitation. The Commission has determined that the issuance of general obligation bonds up to the total aggregate amount of Fifteen Million And No/100 Dollars ($15,000,000.00) will not cause the City to exceed its general obligation indebtedness limitation,
which is currently calculated to be $74,875,000.00.
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1.06. Election
1.07.
. The Commission has determined there should be submitted to the electors of the City qualified to vote at bond elections the question of whether the Commission shall be
authorized to issue and sell general obligation bonds of the City to obtain funds for the purpose
described in the ballot question.
Bonds
Section 2.
. It is the judgment of the Commission that the aggregate sum of up to Fifteen Million and No/100 Dollars ($15,000,000.00) in general obligation bonds will be necessary to carry out the purpose set forth above. It is also the judgment and determination of the Commission that
such general obligation bonds may be issued in multiple series, each series payable during a term not
to exceed twenty (20) years.
Calling of the Election
Shall the City Commission (the “Commission”) of the City of Bozeman, Montana (the “City”) be authorized to sell and issue general obligation bonds of the City in one or more series in an aggregate principal amount not to exceed Fifteen Million and No/100 Dollars ($15,000,000.00) for
the purpose of paying the costs of designing, constructing or equipping on open-space lands trails, parks and natural areas or multi-use recreational fields and facilities, or employing such lands in the
preservation or enhancement of water quality, and acquiring rights to or interests in or improving
open-space lands in or near the City (such as lands for trails in and around the Bridger Mountain foothills), to include necessary or related infrastructure for the use, enjoyment, or functioning of
such lands or facilities and the operation, maintenance, repair, management, or planning of such
lands or facilities; and paying costs associated with the sale and issuance of such bonds, which bonds shall bear interest at rates to be determined by the Commission at the time of sale, payable
semiannually during a term not to exceed twenty (20) years for each series of bonds?
. The City Commission hereby calls and directs a special City election be held in conjunction with the general election on November 6, 2012, for the purpose
of voting on the following question:
Section 3. Conduct of Election
Section 4.
. All qualified electors of the City shall be entitled to vote at
the bond election. The City Clerk is hereby authorized and directed to give notice of the call and details of this election to the Gallatin County Election Administrator as soon as practicable and in any event on or the before the date required by the Gallatin County Election Administrator. The
Gallatin County Election Administrator is requested to give notice of the close of registration and
thereafter prepare printed lists of the qualified electors in the City entitled to vote in the election in
the City and to conduct the election in the form and manner prescribed by law.
Notice of Election. The City Clerk 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 Gallatin County. The notice of election as published shall read substantially as shown on Exhibit A hereto (which is incorporated by reference and made a part hereof).
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Section 5. Form of Ballot
OFFICIAL BALLOT
. The ballot shall be printed in substantially the following form:
CITY OF BOZEMAN, MONTANA
GENERAL OBLIGATION BOND ELECTION
NOVEMBER 6, 2012
INSTRUCTIONS TO VOTERS: Make an X or similar mark in the vacant square before the words “BONDS--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 “BONDS--NO”.
Shall the City Commission (the “Commission”) of the City of Bozeman, Montana (the “City”) be
authorized to sell and issue general obligation bonds of the City in one or more series in an aggregate principal amount not to exceed Fifteen Million and No/100 Dollars ($15,000,000.00)
for the purpose of paying the costs of designing, constructing or equipping on open-space lands trails, parks and natural areas or multi-use recreational fields and facilities, or employing such lands in the preservation or enhancement of water quality, and acquiring rights to or interests in
or improving open-space lands in or near the City (such as lands for trails in and around the Bridger Mountain foothills), to include necessary or related infrastructure for the use, enjoyment,
or functioning of such lands or facilities and the operation, maintenance, repair, management, or
planning of such lands or facilities; and paying costs associated with the sale and issuance of such bonds, which bonds shall bear interest at rates to be determined by the Commission at the time of sale, payable semiannually during a term not to exceed twenty (20) years for each series of
bonds?
BONDS — YES
BONDS — NO
Section 6. Notice to County Election Administrator
. A copy of this Resolution will be
provided to the Gallatin County Election Administrator as soon as possible after its adoption and approval in order to inform the Election Administrator of the details of the special election and the
pertinent requests and authorizations as to the conduct of the special election.
7. Reimbursement Expenditures
(a) The United States Department of Treasury has promulgated final regulations governing the use of proceeds of tax-exempt bonds, all or a portion of which are to be used to
reimburse the City for project expenditures paid by the City prior to the date of issuance of
such bonds. Those regulations (Treasury Regulations, Section 1.150-2) (the “Regulations”) require that the City adopt a statement of official intent to reimburse an original expenditure not later than 60 days after payment of the original expenditure. The Regulations also
generally require that the bonds be issued and the reimbursement allocation made from the
proceeds of the bonds within 18 months (or three years, if the reimbursement bond issue
qualifies for the “small issuer” exception from the arbitrage rebate requirement) after the later of (i) the date the expenditure is paid or (ii) the date the project is placed in service or abandoned, but (unless the issue qualifies for the “small issuer” exception from the arbitrage
.
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rebate requirement) in no event more than three years after the date the expenditure is paid. The Regulations generally permit reimbursement of capital expenditures and costs of
issuance of the bonds.
(b) Other than (i) expenditures to be paid or reimbursed from sources other than the
bonds, (ii) expenditures permitted to be reimbursed under the transitional provision contained in Section 1.150-2(j)(2) of the Regulations, (iii) expenditures constituting preliminary expenditures within the meaning of Section 1.150-2(f)(2) of the Regulations, or (iv)
expenditures in a “de minimus” amount (as defined in Section 1.150-2(f)(1) of the
Regulations), no expenditures for a project within the scope of this resolution have been paid by the City before the date 60 days before the date of adoption of this resolution.
(c) The City reasonably expects to reimburse the expenditures made for costs of such
a project out of the proceeds of bonds in an estimated maximum aggregate principal amount
of up to Fifteen Million and No/100 Dollars ($15,000,000.00) after the date of payment of all or
a portion of the costs of such a project. All reimbursed expenditures shall be capital expenditures, a cost of issuance of the bonds or other expenditures eligible for reimbursement under Section 1.150-2(d)(3) of the Regulations.
(d) As of the date hereof, there are no City funds reserved, allocated on a long-term
basis or otherwise set aside (or reasonably expected to be reserved, allocated on a long-term
basis or otherwise set aside) to provide permanent financing for the expenditures related to such a project, other than pursuant to the issuance of the bonds. The statement of intent
contained in this resolution, therefore, is determined to be consistent with the City’s
budgetary and financial circumstances as they exist or are reasonably foreseeable on the date
hereof.
(e) The City’s financial officer shall be responsible for making the “reimbursement
allocations” described in the Regulations, being generally the transfer of the appropriate
amount of proceeds of the bonds to reimburse the source of temporary financing used by the
City to make prior payment of the costs of the project. Each allocation shall be evidenced by an entry on the official books and records of the City maintained for the bonds or the project and shall specifically identify the actual original expenditure being reimbursed.
PASSED by the City Commission of Bozeman, Montana, this 16th day of July, 2012.
CITY OF BOZEMAN, MONTANA
____________________________ Sean A. Becker, Mayor
Attest: ____________________________ Stacy Ulmen, CMC, City Clerk
(SEAL)
Approved as to form: __________________________________
Greg Sullivan, City Attorney
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A-1
EXHIBIT A
NOTICE OF GENERAL OBLIGATION BOND ELECTION
City of Bozeman, Montana November 6, 2012
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 July 16, 2012, a special city election of the registered voters of the City will be held in conjunction with the general election on November 6, 2012, for the purpose of voting on the following question:
Shall the City Commission (the “Commission”) of the City of Bozeman, Montana (the
“City”) be authorized to sell and issue general obligation bonds of the City in one or more series in
an aggregate principal amount not to exceed Fifteen Million and No/100 Dollars ($15,000,000.00) for the purpose of paying the costs of designing, constructing or equipping on open-space lands trails,
parks and natural areas or multi-use recreational fields and facilities, or employing such lands in the
preservation or enhancement of water quality, and acquiring rights to or interests in or improving
open-space lands in or near the City (such as lands for trails in and around the Bridger Mountain foothills), to include necessary or related infrastructure for the use, enjoyment, or functioning of such lands or facilities and the operation, maintenance, repair, management, or planning of such lands or
facilities; and paying costs associated with the sale and issuance of such bonds, which bonds shall
bear interest at rates to be determined by the Commission at the time of sale, payable semiannually
during a term not to exceed twenty (20) years for each series of bonds?
The polls shall be open between the hours of 7:00 a.m. and 8:00 p.m., and the polling places
for the election shall be the normal polling places for City residents during a general election.
Beginning October 9, 2012, absentee ballots may be obtained at the office of the Gallatin County Election Administrator at Gallatin County Courthouse, 311 West Main, Gallatin, Montana, until 12:00 noon, November 5, 2012.
DATED this ____ day of ______________, 2012.
Gallatin County Election Administrator
Publish: [October 16, 2012 October 23, 2012 October 30, 2012]
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