HomeMy WebLinkAboutResolution 1982 Industrial Development Revenue Bonds Series 1978
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COMMISSION RESOLUTION NO. 1982
RESOLUTION REGARDING INDUSTRIAL DEVELOPMENT REVENUE BONDS
(LIFE OF MONTANA INSURANCE COMPANY PROJECT) SERIES 1978,
AND APPROVING CERTAIN MATTERS WITH RESPECT THERETO.
I BE IT RESOLVED by the City Commission of Bozeman, Montana, as follows:
1. On April 26, 1978, this Commission adopted Resolution No. 1971 authorizing
a project under Title 11, Chapter 14, R.C.M. 1947, as amended, the issuance of $2,000,000
Industrial Development Revenue Bonds (Life of Montana Insurance Company Project), Series
1978, and certain documentation in connection therewith. Interest rates for the Series 1978
Bonds authorized by Resolution No. 1971 have been agreed upon by the Underwriter and Tenant,
as defined in the resolution, and are set forth in Exhibit A attached hereto, and the First
Trust Company of Montana has been designated as Trustee under the Indenture.
2. The interest rates for the $2,000,000 Industrial Development Revenue Bonds
(Life of Montana Insurance Company Project) Series 1978, as described in Exhibit A, are hereby
approved. The First Trust Company of Montana, is approved as Trustee.
3. An Official Statement dated May 12, 1978, as supplemented May 22, 1978, has been
presented to the Commission and filed with the Clerk of the City Commission. The City Commis-
sion hereby consents to the use of the Official Statement, but assumes no responsibility for
the information contained therein.
4. The form of Bond Purchase Agreement presented to the Commission and filed with
the Clerk of the Commission is hereby approved, and the Manager, Clerk and Director of Finance
are directed to proceed to execute the Bonds, the Lease, the Indenture, the Bond Purchase Agree-
ment and the other documents necessary to effect the transaction, all as authorized by the afore-
mentioned resolution.
I EXHIBIT A
MATURITY SCHEDULE
Maturity Principal
(May 1) Amount
Rate
1980 $ 55,000
5.30%
1981 55,000
5.50%
1982 60,000
5.70%
1983 65,000
5.90%
1984 70,000
6.05%
1985 75,000
6.20%
1986 80,000
6.35%
1987 85,000
6.50%
1988 90,000
6.65%
1989 100,000
6.80%
1990 105,000
7.00%
1991 110,000
7.05%
1992 120,000
7.10%
1993 130,000
7.15%
1994 140,000
7.15%
1995 150,000
7.20%
1996 160,000
7.20%
1997 170,000
7.25%
1998 180,000
7.25%
PASSED AND APPROVED BY THE CITY COMMISSION OF BOZEMAN, MONTANA, this 24th day of May, 1978.
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ATTEST:
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Clerk of the
COMMISSION RESOLUTION NO. 1982
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State of Montana )
County of Gallatin)
City of Bozeman )
I, Erna V. Harding, Clerk of the Commission of the City of Bozeman
do hereby certify that the foregoing Resolution No, 1982 was published
by title and number in the Bozeman Daily Chronicle, a newspaper of gen- I
eral circulation printed and published in said City in the issue of the
28th day of May, 1978, and due proof of such publication is on file in
my office,
IN WITNESS WHEREOF I hereunto set my hand and affix the corporate
seal of my office this 28th day of June, 1978.
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