HomeMy WebLinkAboutResolution 1837 Annually Authorizing Loans or Advances From the Revolving Fund
----------....-
;174
COMMISSION RESOLUTION NO. 1837
A RESOLUTION PURSUANT TO STATUTORY PROVISIONS, SETTING OUT THAT THE CITY
COMMISSION UNDERTAKES AND AGREES TO ISSUE ORDERS ANNUALLY AUTHORIZING LOANS OR
ADVANCES FROM THE REVOLVING FUND TO MAKE GOOD ANY DEFICIENCY IN PRINCIPAL AND
INTEREST 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.
WHEREAS, the City Commission of the City of Bozeman, Montana, did, on the 28th day of July I
1976 pass a Resolution, creating Special Improvement District No. 569 for the purpose of construction
and installation of sanitary sewer lateral mains and appurtenances to serve the adjoining properties
in said City; and,
WHEREAS, the said Commission did, on the 2nd day of October, 1931, create a Special Improvement
District Revolving Fund under the provisions of Section 11-2269 of the Revised Codes of Montana, 1947;
and,
WHEREAS, on the 15th day of September, 1976, D. A. Davidson & Co., 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 district.
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 specifically referred to, the
Commission hereby undertakes and agrees to issue orders annually authorizing loans or advances from
the revolving fund to the district fund of said district in amount 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 11-2270, R.C.M., 1947, 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 I
by said Section 11-2270. The undertakings and agreements provided for herein are made pursuant to the
provisions of Section 11-2271(2), R.C.M., 1947.
FIRST PASSED AND ADOPTED this 3rd day of November,. ,1916.
~" '1
// /
,i ~/;,,~~ C:V; ~)~ C'4~~
Mayor--
ATTEST:
.~
/ I'
,/IA-1,I..- . .
Acting Clerk of the City Commission
State of Montana )
County of Gallatin) ss.
City of Bozeman )
I, Diane Krupinsky, Acting Clerk of the City Commission of the City of
Bozeman, do hereby certify that the foregoing Resolution No. 1837 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 of the 5th day of
November 1976, 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 1st day of December 1976.
AQ'~--L> 7~~~ I
Acting Clerk of the ity Commi ~on
COMMISSION RESOLUTION NO. 1837