HomeMy WebLinkAboutResolution 1814 Loans or Advances from the Revolving Fund
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COMMISSION RESOLUTION NO. 1814
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 FUNDS BY MAKING A TAX LEVY AND LOANS AS THE COMMISSION
DETERMINES NECESSARY.
WHEREAS, the City Commission of the City of Bozeman, Montana, did, on the 4th I
day of June, 1975, pass a minute entry, ordering the construction of sidewalks, curbs,
and gutters in said City; and,
WHEREAS, the said Commission did, on the 4th day of June, 1975, create a side-
walk, curb and gutter project fund under the provisions of Section 11-2226 of the
Revised Codes of Montana, 1947; and,
WHEREAS, on the 14th day of July, 1976, D. A. Davidson & Co. agreed to purchase
the coupon warrants to be issued by said project, upon condition t~at 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 revolvingfurrd and side-
walk, curb and gutter project.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF BOZEMAN,
MONTANA, that in connection with the issuance of sidewalk, curb and gutter coupon
warrants to be issued to defray the cost of the improvements in the project herein-
before specifically referred to, the Commission hereby undertakes and agrees to
issue orders annually authorizing loans or advances from the revolving fund to the I
project fund of said project 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 11-2270, Revised Codes of Montana, 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 by said
Section 11-2270. The undertakings and agreements provided for herein are made pur-
suant to the provisions of Section 11-2271(2), Revised Codes of Montana, 1947.
FIRST PASSED AND ADOPTED tfi1,S 28th nay of July, 1976.
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C_,-.JAMES W."VOLLMER, yor
ATTEST:
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Clerk of the City Commission I
FINALLY PASSED AND ADOPTED this ~_~~!L".d.ayof July, 1976. "'''''<
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-.._-,- S..~.Wii' VOLLMER, Ma
ATTEST:
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C) ,~/~ '"0 / ,~'1?>~'-":'c---C-,,:;r
ERNA V. HARDING, /~
Clerk of the City Commission
COMMISSION RESOLUTION NO. 1814
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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 Commission
I Resolution No. 1814 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 1st
day of August 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 6th day of August, 1976.
I
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COMMISSION RESOLUTION NO. 1814
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