HomeMy WebLinkAboutResolution 1742 Statutory Provisions
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COMMISSION RESOLUTION NO. 1742
~ ~ A RESOLUTION PURSUANT TO STATUTORY PROVISIONS, SETTING OUT THAT THE CITY
-'~.. CmiMISSION UNDERTAKES AND AGREES TO ISSUE ORDERS ANNUALLY AUTHORIZING LOANS
jj:J.9..*- OR ADVANCES FROM THE REVOLVING FUND TO MAKE GOOD ANY DEFICIENCY IN PRINCI-
-- ~ PAL AND INTEREST ACCOUNT TO THE EXTENT FUNDS ARE AVAILABLE AND TO PROVIDE
_*'h._~_JL - 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, di~ on the 12th day I
of February, 1975, pass a resolution, creating Special Improvement District No. 550 for
the purpose of construction and installation of watermains and necessary appurtenances
in portion 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 Re-
vised 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
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 speci-
fically 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 dis-
trict 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, R.C.M., 1947, by annually making such tax levy (or, in lieu thereof, such loan I
from the general fund) as the Commission shall determine to be required to provide the
funds sufficient for the purposes herein expressed, subject to themaximum 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., 1947.
FIRST PASSED AND ADOPTED THIS 30th Day of July, 1975.
_ ATTEST:
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FINALLY PASSED AND ADOPTED this 30th day of July, 1975
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ayor
ATTEST:
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CLERK OF THE CO SS 10
State of Montana ) I
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 was published by title and number in the Bozeman Daily
Chronicle, a ne~spaner of general circulation printed and published inaaid City in
the issue of the .l.&t..day of August, 1975, 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 7th day of August, 1975. "-
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ERNA V. HARD+N-
Clerk of the qity Commission
~ COMMISDION RESOLUTION NO, 1742
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