HomeMy WebLinkAboutResolution 806 Special Election for city's water system and sale of revenue bonds
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COMMISSION FiESOLurION NO. 806
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A RESOL urION OF THE CITY COMMISSION OF 'rIlE CITY OF BOZEMJI.N, MONTANA, PELATING
'ro THE CALLING AND CONDUCT OF A SPECIAL ELECTION TO VOTE UPON IMPROVING THE
CITY' S 1,,~A'rER SYSTEM AND 'rHE ISSUANCE AND SALE OF REVENUE BONDS FOR SUCH PURPOSE
BE IT RESOLVED BY 'rHE CI'11Y COMMISSI()N JF THE CITY OF BC)ZEMAN, M')NTANA,
AS follows:
l. This Commission does hereby find, determine and declare that it is
essential to
the health, safety and welfare of the City and its inhabitants for the City
to reconstruct,
I improve, better and extend an undertaking comprising the entire municipal water system
and all parts thereof end applITtenances thereto, including but not limtted to the supply
and distribution systems, reservoirs and dams; that said project can best be carried out
as a single undertaking and paid for by the issuance of revenue bonds in conformity
with
the Revi sed C:)des of Montana 1947, Titel II, Chapter 24, as amended;
that said project
can be so carried out at a total estimated cost of One Million Five Hundred Thc)Usand
Dollars ($1,500,000) ; that gross revenues can be derived in the form of rates,
charges
and rentals imposed for the use of the facilities provided by such system sufficient in
amounts and times of receipt to pay and discharge all costs c)f operation,
repairs and
maintenance of said system plus a reasonable depreciation reserve plus the sinking fund
amounts needed to meet all payments of principal of and interest on the revenue bonds
which may be so authorized, issued and sold as such principal and interest respectively
become dU.e Bnd during the period of years through which such bonds are to be paid, as
therein specified; that such bonds, if authorized, issued and sold,
shall be payable as
to both principal and interest solely Prom, and shall be a valid claim of the holders
thereof only against, the sinking fund and the net income and revenues of the system
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pledged thereto, and shall not constitute an indebtedness of the eity within the meaning
of any charter, statutory, or constitutional limitation upon the incurring of indebted-
ness, nor shall the City incur in respect thereto any obligatim for the payment of which
taxes may be levied; thfJt the proposal to issue such revenue bonds and use the proceeds
thereof for such purpose should be submitted to the qualified taxpayer voters of the City;
and that such qualified taxpayer voters include all, but only,
the duly registered elec-
tors of the City whose names appear upon the last completed assessment roll for state
and county taxes as taxpayers upon property within the City of Bozeman.
2. A special election is hereby called and directed to be held in and for the City
on Tuesday, the 29th day of Mav, 19S6, for the purpose of voting on
the question stated
in the form of ballot hereinafter prescribed.
3. At said election all, but only, the duly registered and qualified electors of
the Cit~r whose names appear upon the last preceding assessment roll for state and county
taxes as taxpayers upon property within the City shall be entitled to vote. 'rhe Clerk
of the Co~mission is hereby authorized and directed to give notice forthwith to the County
I Clerk and Recorder of the call of said election. The County Clerk and Rec(JI'der shall,
after giving due notice of closing of the registration books, p~are printed lists of
registered voters entitled to vote at said election, and)3hall prepare poll books
for such
election for each precinct of the City in the form and manner required by law.
4,. rrhe Clerk of the Commissic)n is hereby authorized and directed to give notice of
call and holding of said election by publicati':m, once each week for a period of not less
than two consecutive weeks immediately preceding the date for holding said election,
one
of such publicBtions to be upon the last day upon which such newspaper is issued before
the election, in the Bozeman Daily Chronicle, published at Bozeman, Montona,
and by caus-
:"~t)
ing notice to be posted in at least three of the most public places in eac~voting precinct
in the City at least ten days prior to the date of said election, which notice so publi-
shed and posted shall read substantially as follows:
NOTICE OF SPECIAL ELECTION
Crry OF BOZEMAN,
MJNTANA
NOTICE IS HEpr~BY GIVEN th8t on Tuesday, the 29th day of May,
1956 a special election I
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will be held in and for the City of Bozeman, Montana, for the determination of the question
whether said City shall issue and sell its negotiable Revenue Bonds in the am01mt of One
Million Five Hundred 'rh)usand Dollars ($' 1, )00 ,000) , to be payable during the term of
thirty (30) years from their date of is sue, and use theproceeds thereof t~ finance the
recons true ti on, improvement, betterment and extensionJf an undertaking comprising its
entire municipal water syste:n and all parts thereof and appurtenances thereto, incl uding
but not 11m! ted tJ thekupply and distribution systems, reservoirs and dams, all in con-
formity with Revised Codes of Montana 1947, 'ritle 11, Chapter 2LI, as
amended, such bonds
and the interest thereon to be payable solely out of net income and revenues to be derived
from rates and charges for the use of the facilities pr1v1ded by the 1mdertaking 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 said matter are set forth in Resolution No. 806,
duly passed by
the City Commissim and approved and now on file and of rec .Jrd in the office of the Clerk
of the Commtssion.
The places of voting at said election in the City of Bozeman will be as fallows: I
Precinct No. Voting Place
Address
l. Hawthorne School
lll~ North Rouse
2. Armory Bu:tlding
2~ West Mendenhall
3. Court House
G07 'Nes t Main
~. . High School
ot~ V~e3t Main
). Emerson School
III S)uth Grand
6. City Hall
326 East Main
7. Longfellow School
610 South Tracy
d. Irving School
611 South Eighth
9. Whittier School
)11 North I,lifth
10. Collet-;e Gym
MSC Campus
ll. Women's (.;1 ub House
702 West Main
12. South Side Park Building
710 South Fifth
The polls for said election will be opened at twelve o'clock noon and will remain
open until eight o'clock P.M. on said date of election.
All, but only, the duly registered and qualified elect)rs of the City whose names
aopear upon the last preceeding assessment roll for state and county taxes as taxpayers
l~on property within said City are entitled to vote at said election.
Dated at Bozeman, Montana, this _ day of
, 1956 .
BY
OFDER OF 'rHE CITY COMMISSION
(SEAL) Clerl;:
of the C)mmissi:m I
). 'rhe Clerk of the Cornraissi:m shall cause suitable ballots to be prepared for use
at said election, and shall distribute the same to the jud:.'es of electLm in the respec-
tive precincts, together with the poll books supplied by the County Clerk and Recorder
and other necessary and proper election supplies, which ballots sh811 read substantially
as follows:
OFFICIAL BALLOT
SPECIAL ELECTION
CITY OF' BOZEMAN
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1956
Resolution No. 806
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(Mark 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 against said proposition.)
. . . FOR The City of Bozeman, Montana, issuing andsel1ing its nego-
. . tiable Revenue bonds in the amount ()f One Million Five Hundred
. .. Th,ousand Dollars ($1,500,000), to be payable during a period
of thirty (30) years from the date of their issuance, and using
the proceeds thereof to finance the reconstruction, improvement,
I betterment and extension of an undertaking comprising its entire
municipal water system and all parts thereof and appurtenances
thereto, including but not limited to the supply and distribution
systems, reservoirs and dams, all in conformity with Revised Codes
of Montana 1947, Title 11, Chapter 2L~, as amended, such bonds and
the interest thereon to be payable 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 obli-
gation for the payment of which taxes may be levied except to pay
for services provided by the undertaking to the City itself.
. . . AGAINST the City of Bozeman, Montana. issuing andselling its
. . negotiable RevEnue Bonds in the amount of One Million F'i ve Hundred
. . . Thousand Dollars ($1,500,000), to be payable during a period of
thirty (30) years from the date of their issuance, andooing the
proceeds thereof to finance the reconstruction, improvement, bet-
terment and extension of an undertaking comprising its entire munic-
ipal water system and all parts thereof and appurtenances thereto, in-
cluding but not limited to the supply and distribution systems, res-
ervoirs and da~s, all in conformity with Revised Codes of Montana
1947, Title 11, Chapter 24, as amended, such bonds End the interest
thereon to be payable solely out of net inc,Jme and revenues to be
derived from rates and charges tor the use of the facilities pro-
vided by the undertaking and not to incur Hny obligation for the
payment of which taxes may be levied except to pay for services
provided by the undertaking to the City itself.
6. 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 retruns thereof. Said election shall in all respects be held
, I and conducted in accordance with the gene.rSl laws applicable to such e1ect.~ons.
Passed by the City Commissi~n and approved by the Mayor this 18th day of April,
1956. /~
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Approved. '-/- " ~.__..,. .,_ _'C-'-d J\
Mayor ~-
Attest: d.f~~~
Clerk)f the Commission
state of Montana )
) S3
CJunty of Gallatin )
I, L. G. Shadoan, Clerk of the CO'llillission )f the City )f Bozeman. do hereby cer-
tify that the foregoing Commission Rpsolution No. d06 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 April 20th, 1956, and that due proof of such publication
is on file in my office as such Clerk.
IN WITNESS WHEREOF I here1mto set my hand and affix the corporate seal of my Jffice
this 27th day of April, 1956.
I /~~
Clerk of the Commissi,on
Resolution No. 806
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