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HomeMy WebLinkAboutResolution 1378 Revenue Bonds for Reconstruction 4A3 COMMISSION RESOLUTION NO. 1378 A RESOLUTION DETERMINING THE DESIRABILITY OF ISSUING REVENUE BONDS TO FINANCE RECONSTRUCTION, IMPROVEMENT, BETTERMENT AND EXTENSION OF THE SEWERAGE SYSTEM, AND CALLING A SPECIAL ELECTION ON THE QUESTION OF ISSUING SUCH BONDS. BE IT RESOLVED by the City Commission of the City of Bozeman, Montana, as follows: I 1. It is hereby found, determined and declared that it is essential to the health, safety and welfare of the City and its inhabitants to reconstruct, improve, better and extend the municipal sewerage system, including but not limited to construction of a new sewage treat- ment plant, together with necessary appurtena.nces thereto; that said project can best be carried out as a single undertaking and paid for by the issuance of revenue bonds in conformity with Chapterll, Title 24 of the Revised Codes of Montana 1947, as amended; that the total cost thereof, is estimated to be $1,400,000; that gross revenues can be derived in the form of rates, cha.rges and rentals for the use of facilities provided by sald sewerage system which will be sufficient in amount and received at times required to pay all costs of operation and main- tenance of said system as incurred, plus the sinking fund amounts needed to meet all payments of principal and interest when due on the Revenue Bonds hereinafter described, and to accumulate a. reasonable depreciation reserve; that such bonds, if authorized, issued and sold, shall be payable as to both principal 8nd interest solely from, and shall be a valid claim of the holders thereof only against, the sinking fund and the net income and revenues of the sewerage system pledged thereto, and shall not constitute an indebtedness of the City within the meaning of any statutory or constitutional limitation upon the incurring of indebtedness nor shall the City incur with respect thereto any obliga.tion for the payment of which taxes may by levied, except to pay for services provided by the system to the City itself; and that the proposal to issue Revenue Bonds in the amount of $1,400,000 and to use the proceeds thereof to reconstruct, improve, better and extend the sewerage system shall be submitted to the qualified taxpayer-electors of the City in accordance with said Chapter 24, at a bond election which is hereby called and directed to be held in and for the City on Tuesday, the 10th day of September, 1968. 2. At said bond election all, but only, the duly registered and qualified electors of the City of Bozeman, Montana, whose names appear upon the last preceding assessment roll of Gallatin County for state and county taxes, as taxpayers upon property within the City, shall be entitled to vote. The City Clerk is hereby authorized and directed to give notice forthwith to the County Clerk of Gallatin County of the call of said election. Said County Clerk shall, after due notice of the closing of the registration books has been given, prepare lists of all the qualified electors and taxpayers entitled to vote at said election, and shall prepare I registers for such election, for each voting precinct of the City, in the form and manner prescribed by law. 3. The City Clerk is hereby authorized and directed to give notice of the call and holding of said bond election by publication once a week for not less than two consecutive weeks immediately preceding the date for holding said election in the Bozeman Daily Chronicle, a newspaper published at Bozeman, Montana; and also by causing notice thereof to be posted in at least three of the most public places in each of the voting precincts of the City, not less than ten days prior to the date of said election, which notice so published and posted shall read substantially as follows: NOTICE OF REVENUE BOND ELECTION CITY OF BOZEMAN, MONTANA NOTICE IS HEREBY GIVEN that on Tuesday, the lOth day of September, 1968, a bond election will be held in and for the City of Bozeman, Montana, at which there will be submitted to the qualified electors and ta.xpayers of the City the proposition of issuing and selling its negotiable Revenue Bonds in the aggregate principal amount of $1,400,000, to be payable during a term not exceeding twenty-five years from the date of their issuance, and using the proceeds thereof to finance the reconstruction, improvement, betterment and extension of its sewerage system, including but not limited to construction of a new sewage treatment plant, together with necessary appurtenances thereto, in conformity with Title 11, Chapter 24 of the Revised Codes of Montana 1947, as amended; said bonds and interest thereon to be paya.ble solely out of net income and revenues to be derived from rates and charges for the use of the facilities provided by the , undertaking and not to incur any obligation for the payment of which taxes may be levied except to pay for services provided by the undertaking to the City itself. Further details as to the said proposal and question are set forth in Resolution No. 1378, duly passed by the City Conmission and approved on the 14th day of August, 1968, and now in file in the office of the City Clerk, which resolution is by reference made a part hereof. I 4. The pla.ces of voting at said bond election in each of the voting precincts of the City will be as follows: Voting Precinct Polling Places No. 1 Hawthorne School No. 2 Armory Building No. 3 Court fiouse No. 4 Willson School No. 5 Emerson School No. 6 City He.ll No. 7 Longfellow School No. g Irving School COMMISSION RESOLUTION NO. 1378 _...__.....In ---. 4A4 No. 9 Whittier School No. 10 Student Union (Bozeman) No. 11 Bozeman Sr. High School No. 12 Field House The polls for said election will be opened At 12:00 o'clock Noon and will remain open until 8:00 o'clock P.M. on said date of election. All, but only, the duly registered and qualified electors of the City of Bozeman, whose I names a.ppea.r upon the last preceding assessment roll of Gallatin County for state and county taxes as taxpayers upon property within said City are entitled to vote B.t said election. Dated at Bozeman, Montana, this 14th day of August, 1968. BY ORDER OF THE CITY COMMISSION Erna.. V. Harding Clerk of the City Commission Bozeman, Montana 5. The Clerk of the Commission shall cause suitable ballots to be prepared as provided by law for voting upon said proposition at said election and shall distribute the same to the judges of election in the respective voting precincts, together with the precinct registers supplied by the County Clerk and all other necessary and proper election supplies. 6. The ballot to be used in voting upon the proposition of issuing Baid bonds shall read substantially as follows: OFFICIAL REVE!\TUE BOND BALLOT BOND ELECTION CITY OF BOZEMAN SEPTEMBER 10, 1968 (Nark a cross(x) in the square opposite the word FOR if you wish to vote in favor of the following proposition, or in the square opposite the word AGAINST if you wish to vote a.gainst said proposition.) . . . . . FOR the Cit;r of Bozeman, Montl'ma, issuing a.nd selling its negoti8ble Revenue Bonds in I . . . the amount of $1,400~000, to be payable during a term not exceeding twenty-five years from the date of their issuance, and using the proceeds thereof to finance the recon- struction, improvement, betterment and extension of its sewerage system, including but not limited to construction of a new sewage treatment plant, together with necessary appurtenances thereto, in conformity with Title 11, Chapter 24 of the Revised Codes of Montana 1947, as amended, such bonds and the interest thereon to be payable solely out of the net income and revenues to be derived from rates and charges for the use of the facilities provided by the undertaking and not to incur any obligation for the pa.yment of which taxes may be levied except to pay for services provided by the undertaking to the City itself. . . . AGAINST the City of Bozeman, Monta,na, issuing and selling its negotiable Revenue Bonds . . in the amount of $1,400,000, to be payable during a term not exceeding twenty-five yeaTs . . . from the date of their issuance, and using the proceeds thereof to finance the recon- struction, improvement, betterment and extension of its sewerage system, including but not limited to construction of a new sewa.ge treatment plant, together with necessary appurtenances thereto, in conformity with Title 11, Chapter 24, of the Revised Codes of Montana 1947, as amended, such bonds and the interest thereon to be payable solely out of the net income and revenues to be derived from rates and charges for the use of the facilities provided by the undertaking and not to incur any obligation for the pa.yment of which t8xes may be levied except to pay for services provided by the under- taking to the City itself. 7. The following persons are hereby appointed judges and clerks for said election: Voting Precinct Judges & Clerl{s No. 1 Irene L. Bakken Essie L. Peterson Blanche Sweeney I No. 2 Rena F. M<'Irtilla Hattie Donald Mildred Bennett No. 3 Jesse Smiley Mae English Beth M. Hohendorf No. 4 Margaret McCulloch Lois Dunham Ann Sandberg No. 5 Helen Creasy Hyrtle Amundsen Alice N. Gossack COMMISSION RESOLUTION NO. 1378 -. ---- n. Ou. 485 Voting Precinct Judges & Clerks No. 6 Mary R. McGuire Elaine S. Steele Joan Benson No. 7 Lavina Chadbume Ellen Tschache Elvira Cheney No. 8 Dorothy S. Kenck Virginia P. Denecke I Alma E. Dugdale No. 9 Verna Helen Ayres Hattie Terpstra Jeanette Lowis No. 10 Helen Daems Ruth H. Thompson Pa.tricia C. Noell No. 11 Juanita Rose Lay Lillian C. Henderson Ema Lou Erwin No. 12 Clarice G. Wallin Ida McLa.ughlin Arty A. Parac 8. The Clerk of the Commission is authorized and directed to furnish to the judges and clerks of election all other necessary and convenient facilities and supplies for said election and the returns thereof. Said election shall in all respects be held and conducted in accordance with the general laws of the State of Montana a.pplicable to such elections. Passed by the City Commission and approved by the Mayor this August, 1968. ATTEST: ission The motion for the adoption of the foregoing resolution was duly seconded by Commissioner Langohr, and upon vote being taken thereon, the following voted in favor thereof: Commissioner I Sedivy, Commissioner Langohr and Mayor Morrow and the following voted against the same: none; whereupon said resolution was declared duly passed and adopted, and the Mayor, being present, affixed his signature thereto in approval thereof, which was attested by the Clerk of the Conunission. STATE OF MONTANA ) ) SS. COUNTY OF GALLATIN ) I, the undersigned, being the duly qualified and acting Clerk of the City Commission of the City of Bozeman, Montana, hereby certify that I have compared the attached and foregoing with the original thereof on file and of record in my office, and find the same to be a fUll, true and correct transcript of the minutes of a meeting of the City Commission of said City duly called and held on the date therein indicated, so far as such minutes relate to the issuance of Revenue Bonds of said City; and that the resolution contained therein is a full, true and correct copy of the original thereof. WITNESS my hand and the seal of said City this 19th day of August, 1968. / /~~ I ~:-C-?-Zd>./ ~ - ~ Clerk of the City Co' 'ssion State of Montana ) County of Gallatin : ss City of Bozeman ) I, Erna V. Harding, Clerk of the Commission of The City' of Bozeman do hereby certify that the foregoing Resolution No. 1378 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 August 19, 1968, and due proof of such publication is on file in my office. IN VlITNESS WHEREOF I hereunto set my hand and affix the corporate seal of my hand and affix the corpora.te seal of my office this 21st day of August, 1968. sian COMMISSION RESOLUTION NO. 1378 .----..... -.--. ".