HomeMy WebLinkAboutResolution 1741 Pursuant to Statutory Provisions
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COMMISS ION RESOLUTION NO. 1741 rrvur a.o
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A RESOLUTION PURSUANT TO STATUTORY PROVISIONS, SETTING OUT THAT THE 9.-7- '"
CITY COMMISSION UNDERTAKES AND AGREES TO ISSUE ORDERS ANNUALLY AUTH;; -...._."....2..._.._.
ORIZING LOANS OR ADVANCES FROM THE REVOLVING FUND TO MAKE GOOD ANY fit/If
DEFICIENCY IN PRINCIPAL AND INTEREST ACCOUNT TO THE EXTENT FUNDS ARE
AVAILABLE AND TO PROVIDE FUNDS FOR SUCH REVOLVING FUND BY MAKING TAX
I LEVY AND LOAN AS THE COMMISSION DETERMINES NECESSARY.
WHEREAS, the City Commission of the City of Bozeman, Montana, did on the 26th day of
February, 1975, pass a Resolution, cr~ating Special Improvement District No. 548 for the
purpose of construction and installation of an asphaltic concrete type pavement, curbs and
gutters, storm drainage pipe, inlets, manholes, ditches, and appurtenances necessary to
storm drainage in portions. of 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 4th day of June, 1975, D. A. Davidson, Inc., 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 agree-
ments 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 Said 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 amounts sufficient to make good any deficiency in the principal and in-
I terestaccounts thereof to the extent that funds are available, and hereby further under-
takes 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 pro-
vide 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 pursuant to the provisions of Section 11-2271(2), R.C.M., 1~47.
First Passed and adopted this 30th day of July, 1975.
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ATTEST: / MAYOR / -0/
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LERK OF THE ~ COMM S ION
FINALLY PASSED AND ADOPTED this 30th Day of July,
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ATTEST:
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I State of Montana )
County of Gallatin :
City of Bo~man )
I, Erna V;"Harding, Clerk of the Commission of the City of Bozeman, do hereby
certify, that the foregoing Resolution was published by title ana number in
the Boaeman Daily C~ronicle, a newspaper of general circulation printed and
published in said City in the issue of the 1st day of August, 1975, and due
proof of such publication is on file in my office.
IN WITNESS WHEREOF, _~ hereunto set my hand and affix the corporate seal of
my office this 7th day of August, 1975.
COMMISSION RESOLUTION NO. 1741
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