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CERTIFICATE AS TO RESOLUTION AND ADOPTING VOTE I, the undersigned, being the duly qualified and acting recording officer ofthe City of Billings, Montana (the "City"), hereby certify that the attached resoiution is a true copy of a RESOiUtiON ENtitlcd: ..RESOLUTION RELATING TO $495,000 SPECIAL IMPROVEMENT DISTRICT NO. 1384 BONDS; AWARDING THE SALE THEREOF AND APPROVING CERTAIN MATTERS WITH RESPECT THERETO" (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 aï a regiar meeting on March 23, 2009 , 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notice of such meeting given as required by law; and that the Resolution has not as of the date hereof been amended or repealed.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: Ronquillo' Gaghen' Pitman' Brewster'Veis' Rueeamer. McCall. Ulledalen. Astle. and Ciark ; voted against the same: abstained from voting thereon: ; or were absent: WITNESS my hand and seal officially this 23rd day of March' 2009' City Clerk ---PAGE BREAK--- RESOLUTION RELATING TO S495,OOO SPECIAL IMPROVEMENT DISTRICT NO. 1384 BONDS: AWARDING THE SALE THEREOF AND APPROVING CERTAIN MATTERS WITH RESPECT THERETO BE IT RESOLVED by the City Council (the "Council") of the City of Billings, Montana (the "City"), as follows: 1. This Council on February 23,2009 adopted Resolution No. 09-i8793 providing for the public sale of $495,000 Special Improvement District No. 1384 Bonds (the "Bonds") to finance the costs of certain local improvements to be undertaken in or for the benefit of Special Improvement District No. 1 3 84. Notice of the sale has been duly published in accordance with Montana Code Annotated, Sections 7 -12-4204,'7 -7 -4252 and 17-5- 1 06. Pursuant to the notice of sale, three bids for the purchase of the Bonds were received at or before the time specified for receipt ofbids. The bids have been opened or accessed and publicly read and considered, and the purchase price, interest rates and net interest cost uuder the terms ofeach bid have been detennined. 2. The bid of 5495,000 of US Bank (the "Purchaser"), attached as Exhibit A, to purchase the Bor.rds of the City, is hereby determined to comply with the notice of sale, and to be the lowest, most reasonable bid f'or the purchase of the Bonds. The bid of the Purchaser is hereby accepted by the Council and the sale of the Bonds is hereby awarded to the Purchaser. The bid security of the Purchaser shall be retained pending deiivery of the payment for the Bonds and the bid security of all other bidders shall be returned. 3. The Mayor and City Clerk are hereby authorized and directed to execute a purchase contract with the Purchaser with respect to the Bonds. 4. This Council shall prescribe the form and security for the Bonds in a subsequent resolution. PASSED AND APPROVED by the City Council of the City of Billings, Montana, this 23'o day of March, RESOLUTION NO. 09-1 88OO 2009. Attest: Aut--WU!.-@ Cari Martin, City Clerk ---PAGE BREAK--- $495,000 City of Billings, Montana Special Improvement District 1384 OFFICIAL BID FORM City of Billings Atterfion: Financial Services Manaser 210 North 27'r'street Billings, Montana 59101 Pursuant to your Offìcial Notice of Sale, dated February 23,2009 for the purchase fronr you of 5495,000 principal amount of your Special Improvement District 1384 (the "Bonds"), we hereby offer to purchase: Serial Bonds from you at the purchase price of$495,000 plus no accrued interest. Bonds will be delivered on the dated date ("flat" closing - no accrued interest). The Bonds to bear interest at a single rate set forth opposite the years and amounts as follows: Principal Year Amount Interest Rate $35,000 s.\s% Principaì Year Amount lnterest Rate s35,000 5.85% $35,000 5.85% 20r0 2011 20r2 20r3 2014 2015 2016 20r7 201 8 20t9 s35,000 s35,000 $3s,000 $3s,000 $35,000 $3s,000 s.85% 5.85% 5.85% 5.85% s.8s% 5.85% $3s,000 5.85% 2020 $35,000 5.8s% 5.85% 2021 $35,000 2022 $35,000 5.85% 2023 $35,000 s.85% 2024 $5,000 5.85% Enclosed herewith is lawful money of the United States or cashier's check, certified check, bank money order or a bank draft d¡awn and issued by a federally chartered or state chartered bank insured by the Federal Deposit Insurance Corporation or a financial surety bond, payable ro the order of "City of Billings," in the amount of $9,900 to be held and disposed of by you as provided in the Notice of Sale. This bid must be accepted in its entirety within the time provided in the Notice of Sale and if not so accepted by you within such time shall be deemed to have been rej ected. This bid shall remain i¡revocable wrtil the expiration of such time unless sooner rejected by you. Each ofthe Bidders: acknowledges receipt of the Notice of Sale; (ii) represents and warrants that it has full power and authority to make this bid and to purchase the Bonds if this bid is accepte