HomeMy WebLinkAboutResolution 1155 Municipal Building Bonds
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CO:MMISSICN RESOLUTION NO.
Ilb5
RESOLUTION PRESCRIBING THE FORM AND DETAILS OF
$475,000 MUNICIPAL BUILDING BONDS AND
THEI~ EXECUTION AND 'ELI VERY
BE IT RESOLVED by the iJi ty (.;ommis sian of the C1 ty of .l:;)ozeman, Mon tana as follows:
1. It is hereby found, determined and declared that the City of Bozeman
I has been duly authorized by proceed:~gs conforming with law to issue and deliver the
bonds hereafter described, and said bonds have been properly advertised for sale and
sold to Piper, Jaffray and Hopwood, Ir c., of M:"nneapo.Lis, Mirnesota, and associates,
at a price of par Plus accrued interest p.LUS a premium of $6.00 for bonds bearing
interest at the rates specified be.LOw, being a net interest cost of $162,599, and
1 t is proper and des lrab..l.e that the form and details thereof be prescribed and re-
corded in the minutes of this Commission.
2. Pursuant to such proceedings and sale,', the City of Bozeman shall forth-
wi th issue its negotiable coupon Municipal Building Donds in the aggregate principal
amount of $4?5,UOO, being 475 bonds in denomInation of $l,UOO each, numbered 1 throur;h
475, all dated as of JUlY 1, .L964. The bonds shall mature seriall~ in numerical order
of serial numbers on July 1 in the amount of $19,UUO in lD65, and '24,000 in each of
the years 1966 through 1984. Bonds numbered 1 through 115 shall be payable as afore"
said without option of prior payment, bu t bonds numbered 116 through 4'15 shall each
be subject to call for redemption and prepayment at the option of the City in inverse
order of serial numbers a t par plus accrlled interes t on July .L, 1969, and on any
interest due date thereafter upon notice of' call for redemption given by publ.ication
and mailing in the. tj,me and manner prescribed in Rev! sed Codes of Montana, .L947,
3.ection 11-2326. .B'or the purpose of giving such mailed notices.. the Director of Finance
and his successors in office shall ma intain a register snowing the names and addresses
of the holders of' such prepayable bonds and the serial numbers of the bonds held by
each insofar as such information is made available to them. ~aid bonds shall bear
interest at the fOJl.owing rates per annum:
Seria.L Numbers Ma tur.i ty Years PrIncipal Amount
Rate
-
1 ..... 259 1965 through 19'15 $259, UUO
3.00%
260 -- 331 1976 through 19'18
72,uvu 3.10%
332 -- 427 1979 through 1982
96, uO 0 3.20%
428 -- 475 19B3 and 1984
48,uuO 3.25%
I In addition, al.L bonds shal.L bear addi tiona 1 interes t, re pre sen ted by a separa te "'Blf:
coupon a ttached to each bond, for the period from Jan. 26, 1965 to JU.Ly 1,
1965, rate
of 2~ per annum. Al.L such interest shall be payab.Le on January 1, 196 5 ,
and semi-
annually thereafter on e8ch July 1 and January 1. Principal and interest Sh~l.L be City
payable at the First National Bank of Saint j,;aul, in St. PauL, Minnesota, and the
hereby agrees to pay the reaJ:.)nable and. customary chHrges of said bank for the receipt
and disbursement of such moneys.
3. Said bonds shall be forthwith preoared for execution under the direction
of the Director of l"inance and the purchasers I attorneys, but at the expense of said
purchasers, and shall be in substantially the foL.LOwing form:
UNITED STATES OF AMERICA
STATE OF MONTANA
COUNrrY OF GALLATIN
CITY OF BOZEMAN
~roNICI~AL BUILDING BOND.
No.
$1,000
KNOW ALL MEN BY THESE .!!RESENTS that the \"/ity of bozeman, Galla tin County,
Montana, aCknowl.edges itseif indebted and for value received hereby promises to pay
to bearer the sum of ONE THOUSAND DULLARS on the 1st day of July, 19 ,
or, if this
bond is prepayab.Le as stated below, on a date prior thereto on which it shaJ.l have been
du.LY called for redemption, and to pay interest thereon from the date hereof until
said principa.L sum is paid, or if this bons is prepayab.Le, unt il it has been duly ca lIed
for redemption, /:it the basic rate of
per cent
J ( %) per annum, and, for the period from January 26, 1965, to JUlY 1, 196b, only,
at the additionHl rate of two and fifty-hundredths per cent (2.5V%) per annum.. a.Ll
I interes~ payable on January 1, 1965, and seimannua.L1y thereafter on each July land
January 1, interest to maturity being payabLe in accordance with and upon presentation
and surrender of "the interest coupons appurtenant hereto, which D,re in two sets, one
represen ting the in teres t pa yeb.Le to maturity at said basic rate, and the other (desig-
nated as coupon No. B-1) representing interest at said additional rate for the .Limited
period above stated. Botn vrinc.L!Jal and interest are Payab.Le at the First NationaL
Bank of Saint PauL, in St. Faul, Minnesota, in any coin or currency of' the United States
of America which on the res.lJective dates of paJT!11ent is legal tender for pub.Lic and pri-
va te debts. For the prompt and full payment of such principal and interest as
\.he same
respective.LY becnme due, the fU.Ll faith, credit and un.Limited taxing powers of the
Clty of Bozem~n have been and are hereby irrevocably p~edged.
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This bond is one of an issue of bonds in ~ne tutal principaL ~mount of
$4'75,UUO.. aLL of Ltke date and tenor except as to seriaL numbers, matur1ty dates..
interes t rate, and redempti on pri viLege.. a,ll issued by said C1 ty for tne pur.t-'ose of
erect:i,ng.. furnishing and equipp.Lng a municlVd.l build1ng f'acili ty.. ctnd is
issued pur-
suant to t he favorable vote of more than tne required m<:t,1ority of
the quaJ.ified elec-
tors of' said C1 ty voting on the question a tan eLeCLl8l) duly ,~nd legally called and
heJ.d tuerein and pursuant to and in fU.11 c(JId'ormity wi tn the Cousti tut10n and 1l:1WS
of the Sttite 01:' Montana thereun~o enHbJ.ing.
Bonds of this issue beHrlng a serial number trom 1 through 115 are payable
I
at their respective stated matui'" -;:~ dates without option of prior payment. Bonds of
th1s issue bearing a serial number from 116 though 475, being tnose having s tBted
maturi toy dates occurring in the years 1970 through .1984, are each sub,j~ct to redemp-
tion and prepayment a t par and accrued int ere s t, a t the opti on of the City, on July
1, 1969, and on any interest due date thereafter 1J.pon notice given as provided in
Revi sed Codes of Man tana 1947, Section 11-2326. Holders of pr apa ya b.Le bonds of' this
issue may regia tar the ir names and addresses and the serial numbers of their bonds
wtth the Director of 1"1nance of bozeman, Montana, for the purpose of receiving mailed
notice of such call for redemption.
IT IS EEREBY CERTIFIED ANDRECI'lTED that all acts, conditions and
things
required by the Consti tution and laws of the ota te of Man tana,
to be done, to happen
to exist, and to be performed preceden t to and in the i 8 suence of tnis bond,
in order
to make it the valid and b1nding general obligation of the Vity according
to i ts terms,
have been done, have happened, do axis t, and have been .r:e rformed in regula r and due
form.. time and manner as so required; that a direct, annual, irrepealable tax has been
ordered levied upon all of the taxable property in said Oi ty in amounts s uffi cien t to
pay the principal hereof and the interest hereon when and as the same become due; and
that the issuance of this bond did not cause the indebtedness of said City to exceed
any constitutional or statutory limitations.
IN VI/[ TNESS WHEREOF the City of Bozeman.. Mntana, has caused this bond to
be executed in its behalf by the manual signa tures of its Mayor and its Director of
Finan.ce, a ttested by the Clerk of its City Commis sian, seal ed wi th its cortyora te
seal, an.d registered by the Director of' ,C"inance, and ha s caus ed the appurtenant in-
terest coupons and ~he c er tiflca te tiS to t he opinion of bondcounse 1 on the reverse
side hereof to be executed and authentica ted wi th li thographed or engraved facsimiles
of the signature of said officers, and has caused this bond to be da ted as of July 1,
1964.
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a yor C
ATTEST:
..Le rk of
Dir ector of ,C"inanc e "1M
(SEAL)
(Form of Coupon)
No.
$
On t he 1s t day 0 f January (July), 19 ,
the City of B~eman, M-',n t9 na,
will pay to bearer a t the First Na tional Bank of Sain t PaUl, in St.
1-'aul.. Minnes ota,
the sum shown hereon in lawful money of the United States of America, for interest
then due on its Municipal Building Bond dated July 1, 1964, No.
(Facsimile signature) (Facsimile signature)
(Facsimile signature)
Clerk of City Commission Director of Finance
Ma yor
Coupons numbered 11 and upward shall also contain the words: "Unless the
bond mentioned below has been called for earlier redemption"!.
(On Bank of Each Bond)
REGISTRATION CERTIFICATE
I hereby certify the t the wi thin bond has been fully regis tered in my office
as required by law.
Director of Finance
I
Bozeman, M:m t ana
(Form of certificate to be printed on the back of
each bond after the opinion of bond counsel)
We certify that the ab~e is a full, true and correct c08Y of the legal
opinion rendered by bond co ...,el on the 1s sue of bonds of the '1 ty of Qozaman,
Mon tana, which includes the within bond, dated as of the date of delivery of and
pa ymen t for the bonds.
(Facsimile signature) (Facsimile signature)
(Facsimile signature)
Clerk of (Jity Commission Director of Finance
Ma yor
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4. Wnen the bonds have been so prepared.. they shall be executed in be-
half of the Gity byt the manual signatures of the Mayor Hnd Director of Finance"
attested by the Clerk of its Gity Commission.. and sealed with the seal of the
City; and the interest coupons and the certificate as to the opinion of bond
counsel on the back of each bond shall be executed and authenticated by lithographed
or engraved facsiniles of the signatures of said officers.. and said bonds shall be
registered in accordance with Section 11-2318 of Revised Codes of Montana 1947.
When we executed l:ind registered.. the Director of' Finance Shall deliver them or cause
them to be delivered.. to the purchasers thereof upon receipt of the purchase price
I above specified.. .a nd "Ghe purchasers Shal.l not be Obligated. tD see to the applica tion
of the In'neys so paid. 'l'he sale of said bonds on such terms is hereby in all respects
ratified.. confirmed and approved.
5. The f'u.1l fai th and credit and the un.1imi ted taxing powers of "the Gi ty
shall be and are hereby pledged for the prompt and full payment of the principal of'
and interest on said bonds as such payments become due. In order to provide moneys
for such payments, there aha 11 be and is hereby ordered and directed to be levied an
annual tax which shall be sufficient.. with other moneys avai.1ab.1e therefor, ~o pay
the jnterest on said bonds as it becomes due and to provide a sinking fund forpayment
of the principal of the bonds at their respective maturi ties.. and it is hereby made
the duty of the proper officers to see to t he levy and collection of' such taxes
suff'icient in amount f'or said purposes and to cause the proceeds of such levies to
be applied in payment of such prin~ipal and interest.
6. ~he officers of the City of Bozeman are hereby authorized and directed
to f'urn1.sh to the purchasers of said bonds and to the attorneys approving legality
tnereof.. certified copies of Hll proceedings relati~ to the issuance of said bonds
and such other certif~ca tes Cind affidavi ts as may be required to show the right, power
and authority of the Gity to issue said bonds; and a~l statements contained in or
shown c:,y such instruments.. including any heretofor furnisned, snall constitute repre-
sentations of the City as to the truth of the statements so made.
7. All prior resolutions of this Commission which in t1.ny way are incon-
sistent herewlth, if there be any such, are hereby amended so as to conform with
the provisions he reof and as s () amended are fJe reby readopted and confirmed. '1'1:1i s
resolution is immediately necessary for the preservation of the peace, hea.Lth and
safety of the Ci ty, whe refore an emergency exis ts.. and this resolution shall 'be in
f'ull force and effect from and af'ter its passage and ap~roval.
Passed and adO. .pted b.:'.' .t...he Ci ty Commission of' tho ~i t,Y4eman, M.O. ntana,
this 10th day of November, .L904 .// C, ~/,
I ///. ..' /---') .. ...~ Approved:/[// ~J(ffiCJ--r-r-rcJ
// ,..~ r /./< May
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A rf'rnJ:;' C> fT1 . ..:..../~"... -^, / ;;;7 ,> z:: /
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Acting Clerk of ttlY ommiss1:m I
The motion for the adoption of the foregoing resolution was duly seconded
by Commissioner Langohr.. and upon vote being taken thereon.. the following voted A;LE:
Mayor Morrow.. Commissioner Sedivy and Commissioner Langohr; and the f'o.Llowing
voted NO; None.
whereupon said resolution was decLared duly I~ssed by a majori ty of the whole number
of members of the Commission, and "the Mayor; beillg present affixed his slgnature thereto
in approval thereof, I::\nd the Clerk of the Gi ty Gommission signed in a ttes ta tion thereof.
STATE OF MONTANA )
)ss.
COUNTY OF GA:,LATnn
I, the unders~gned, being duly qualified and acting Clerk of the City
Commission of the Gity of bozeman, Montana, hereby attest and certif'y that
(1) as such off'icer, I ha ve the legal cus tody of the origlnal record
from which the attached an:1 foregoing extract was transcribed;
(2) I have carefu.lly compared said extract with said origjna.1 record;
(3) I find said extract to be a true, correct and complete transcript
from the original minutes of' a meeting of the Gity Commission of
said City held on the date indicated in said extract.. insofar as
they re18te to $475,OUO Municipal Building Bonds of the City; and
If 4) said mee tin'!,. was du ly he .1d.. pursuan t t.o call and notice the reof
as req1..1.ired by law.
WITNESS my hand officially as such Cle rk of the C1 ty Cormnis sian and the
seal of said City this 18th day of November, 1964. .,
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SEAL
:~64
State of Montana )
Oounty of Gallatin)ss.
C1 ty of Dozeman )
Acting
I Harold A. FrysJ..ie,/Clerk of the Commission of the
City of bozeman, do hereby certify tha t the foregoing Resol-
utlon NO.1155, was pub.lis hed by title and number in me Bozeman I
Daily Chronicle, a new~p8per of general. circulation printed
and pubJ..ished in said City in the issue of November 23rd,
1964, and due proof of such publication is on file in my
of fice .
IN WITNE3.S WHEREOF I hereun to set my haw and affix the
corporate seal of my office this 19th day of ,Tanuary, 1~165 .
h.d .
/ .../ ,". .1
~.;tI<"/' ,Z:( ">;?7':.r/~ C/fl?
/ Acting Cl'rk of the Oi ty Commission
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