HomeMy WebLinkAboutResolution No. R19-46CERTIFICATE AS TO RESOLUTION AND ADOPTING VOTE
I, the undersigned, being the duly qualified and acting recording officer of the City of
Laurel, Montana (the "City"), hereby certify that the attached resolution is a true copy of
Resolution No. R19-46, entitled: "RESOLUTION RELATING TO SPECIAL IMPROVEMENT
DISTRICT NO. 119; PRELIMINARY LEVY OF SPECIAL ASSESSMENTS ON PROPERTY
WITHIN THE DISTRICT FOR THE PURPOSE OF FINANCING THE COST OF CERTAIN
LOCAL IMPROVEMENTS" (the "Resolution"), on file in the original records of the City in my
legal custody; that the Resolution was duly adopted by the City Council of the City at a meeting
on August 20, 2019, and that the meeting was duly held by the City Council and was attended
throughout by a quorum, pursuant to call and notice of such meeting given as required by law;
and that the Resolution has not as of the date hereof been amended or repealed.
I further certify that, upon vote being taken on the Resolution at said meeting, the
following Council Members voted in favor thereof. Council Member Eaton, Council Member
McGee, Council Member Stokes, Council Member Mountsier, Council Member Wilke, Council
Member Herr, and Council Member Sparks; voted against the same: ; abstained from
voting thereon: ; or were absent: Council Member Klose.
WITNESS my hand officially this 20th day of A7" -
/j
City erlreasurer
RESOLUTION NO. R19-46
RESOLUTION RELATING TO SPECIAL IMPROVEMENT
DISTRICT NO. 119; PRELIMINARY LEVY OF SPECIAL
ASSESSMENTS ON PROPERTY WITHIN THE DISTRICT
FOR THE PURPOSE OF FINANCING THE COST OF
CERTAIN LOCAL IMPROVEMENTS
BE IT RESOLVED by the City Council of the City of Laurel, Montana (the "City"), as
follows:
Section 1. The District; the Improvements. The City has created a special improvement
district pursuant to Montana Code Annotated, Title 7, Chapter 12, Parts 41 and 42, as amended
(the "Act"), denominated Special Improvement District No. 119 (the "District"), and undertaken
certain local improvements in the District (collectively, the "Improvements") to benefit property
located therein.
Section 2. The Bonds. Pursuant to the Act, the City will issue its special improvement
district bonds drawn on the District, denominated "Special Improvement District No. 119 Bond,
Series 2019," in the original aggregate principal amount of $41,000 (the "Bond"), to finance a
portion of the costs, including incidental costs, of the Improvements. The Bond is payable
primarily from special assessments to be levied against property in the District.
Section 3. Methods of Assessment. Pursuant to Resolution No. R19-14, adopted by this
Council on May 7, 2019, which constitutes the resolution of intention to create the District, this
Council determined to levy special assessments to pay the costs of the Improvements on the
basis or bases therein provided as authorized by the Act.
This Council hereby ratifies and confirms that the assessment of costs of the specific
Improvements against the properties benefited thereby as prescribed by such resolution of
intention are equitable and in proportion to and not exceeding the special benefits derived from
the Improvements by the lots, tracts and parcels to be assessed therefor within the District, and
the special assessments authorized by this resolution are in accordance with the methods and do
not exceed the amounts prescribed by the resolution of intention.
Section 4. Proposed Levy of Assessments. (a) The special assessments for the costs of
the Improvements shall be levied and assessed against properties in the District in accordance
with the methods of assessments referred to in Section 3. Such assessments shall be payable
over a term not exceeding 20 years, each in substantially equal semiannual payments of principal
and interest. Property owners shall have the right to prepay the special assessments as provided
by law.
(b) The special assessments shall bear interest from the date of delivery of the Bond until
paid at a rate equal to 4.45% per annum, which is equal to the sum of (i) 3.95% (the interest rate
payable on the Bond), plus (ii) one-half of one percent (0.50%) per annum.
(c) Exhibit A to this Resolution (which is hereby incorporated herein and made a part
hereof) contains a description of each lot, tract or parcel of land in the District to be assessed, the
name of the owner, if known, the total amount of the special assessment levied against each lot,
tract or parcel, the amount of each partial payment of the special assessment, and the day when
each such partial payment shall become delinquent (the "Assessment Roll").
(d) The Assessment Roll is preliminary and is subject to consideration by this Council of
the objections, if any, from owners of property in the District following the public hearing
provided for in Section 7.
Section 5. Filing of Resolution. This resolution shall be kept on file in the office of the
City Clerk -Treasurer and shall be open to public inspection.
Section 6. Notice of Proposed Levy of Assessments. The City Clerk -Treasurer is hereby
authorized and directed to cause a copy of the notice of the passage of this resolution,
substantially in the form of Exhibit B hereto (which is hereby incorporated herein and made a
part hereof), (i) to be published twice in a newspaper meeting the requirements of Montana Code
Annotated, Section 7-1-4127, with not less than six days between each publication, (ii) to be
mailed to the owner of each lot, tract or parcel of land to be assessed (to be determined from the
last completed assessment roll for state, county, and school district taxes); and (iii) to be mailed
to such other persons or entities known by the City Clerk -Treasurer to have an ownership interest
in such lots, tracts or parcels (including, without limitation, mortgagees and vendees under
contracts of deed). The time for the public hearing may not be less than ten days after the final
publication and the mailing of the notice.
Section 7. Public Hearing; Objections. This Council shall meet on Tuesday, September
17, 2019, at 6:30 p.m., in Council Chambers, at 115 West First Street, in Laurel, Montana, for
the purpose of conducting a public hearing on the levying and assessment of the special
assessments in the Districts and considering the objections, if any, of the property owners to the
levying and assessment of the special assessments.
ADOPTED by the City Council of the City of Laurel, Montana, this 20th day of August,
2019.
Mayor
Attest:
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EXHIBIT B
NOTICE OF PROPOSED LEVY OF SPECIAL ASSESSMENTS IN
SPECIAL IMPROVEMENT DISTRICT NO. 119
CITY OF LAUREL, MONTANA
NOTICE IS HEREBY GIVEN that on August 20, 2019, the City Council of the City of
Laurel, Montana (the "City"), adopted a resolution proposing to levy and assess special
assessments against benefited property in Special Improvement District No. 119 in the City for
the purpose of financing the costs of certain local improvements and paying costs incidental
thereto.
A complete copy of the resolution, which includes the proposed assessment rolls for the
district and the principal amount of each special assessment, is on file with the City Clerk -
Treasurer and is available for public inspection.
On September 17, 2019, at 6:30 p.m., in Council Chambers, at 115 West First Street, in
Laurel, Montana, the City Council will conduct a public hearing and pass upon all objections,
whether made orally or in writing, to the proposed levy of the special assessments.
Further information regarding the special assessments or other matters in respect thereof
may be obtained from the City Clerk -Treasurer at 115 West First Street, Laurel, Montana or by
telephone at 406-628-7431 ext. 2.
Dated: August 20, 2019.
BY ORDER OF THE CITY COUNCIL
(Publication Dates: August 29, 2019 and September 5, 2019)
(Mailing Date: August 29, 2019)