§ 7-86. Form.

All special improvement district bonds issued by the city for the payment of work done or improvements made or constructed by the city in any special improvement district in which the assessments for the payment of such work or the making of such improvements extend over a period of time, as provided for by law, shall be in the following form and language:

DISTRICT NO. _____
UNITED STATES OF AMERICA
STATE OF MONTANA
Special Improvement District Coupon Bond
Issued by the City of
MILES CITY, MONTANA

Bond No. _____       $_____

Interest at the rate of _____ percent per annum, payable annually. The City Treasurer of the City of Miles City, Montana, will pay to ___________ or bearer, the sum of _______ as authorized by Resolution No. _____ passed on the _____ day of _______, ___, creating special improvement district No. _____ for the construction of improvements and work performed as authorized by the resolution to be done in the district, and all the laws, resolutions and ordinances relating thereto, in payment of the contract in accordance therewith. The principal and interest on this bond are payable at the office of the City Treasurer of the City of Miles City.

This bond bears interest at the rate of _____ percent per annum from the date of registration of this bond as expressed herein, until the date called for redemption by the City Treasurer. The interest on this bond is payable annually on the first day of January, in each year, unless paid previous thereto as expressed by the interest coupons hereto attached which bear the facsimile signatures of the Mayor and the City Treasurer and be attested to by the City Clerk.

This bond is payable from the collection of a special tax or assessment which is a lien against the real estate within said improvement district as described in said resolution hereinbefore referred to, and is redeemable at the option of the City of Miles City on or before the first day of January, A.D. ___, at any time there are sufficient funds to the credit of said special improvement district fund for the redemption thereof, and in the manner provided for the redemption of the same.

It is hereby certified and recited, that all things required to be done precedent to the issuance of this bond, have been properly done, happened and been performed in the manner prescribed by the laws of the State of Montana, and the resolutions and ordinances of the City of Miles City, Montana, relating to the issuance thereof.

Dated this _____ day of _______, ___

CITY OF MILES CITY, MONTANA

By  _____
Mayor

By  _____
City Treasurer

ATTEST:  _____
City Clerk

 

Registered in the office of the City Treasurer of Miles City, Montana, this _____ day of _______, ___, and redeemable at the option of the City of Miles City, on or before the first day of January, A.D. ___.

_____
City Treasurer

 

FORM OF BOND INTEREST COUPON

$_____       Miles City, Montana, ___

On January 1, ___

The City Treasurer of Miles City, Montana, will pay to the bearer at his office in Miles City, Montana, the sum of _______ dollars out of special improvement district No. _____ fund, the same being the interest due on said date of payment on its special improvement district No. _____ bond No. _____, issued on account of special improvement district No. _____.

Coupon No. _____.

_____
Mayor

_____
City Treasurer

Attest:

_____
City Clerk

 

(Code 1981, § 3.06.010; Ord. No. 1219, § 25, 4-26-11)