Notice of Passage: Resolution 4983, Intent to Create Special Improvement District 750 and Notice of Resolution for Tax Levy for North Tracy Avenue Local Improvements
NOTICE OF PASSAGE OF RESOLUTION OF INTENTION
TO CREATE SPECIAL IMPROVEMENT DISTRICT NO. 750 AND NOTICE OF RESOLUTION FOR TAX LEVY
CITY OF BOZEMAN, MONTANA
NOTICE IS HEREBY GIVEN that on February 4, 2019 the City Commission (the “Commission”) of the City of Bozeman, Montana (the “City”), adopted Resolution 4983, a Resolution of Intention to create Special Improvement District No. 750 (the “District”) for the purpose of undertaking certain local improvements on North Tracy Avenue between Villard Street and Peach Street and financing the costs thereof and incidental thereto through a loan to the District from the City’s special improvement district revolving fund. If created, the Commission intends to levy a special assessment upon all benefitted property in the District as described in Resolution 4983.
A complete copy of Resolution No. 4983 is on file with the Bozeman City Clerk. Resolution 4983 more specifically describes the nature of the improvements, the boundaries and the area included in the District, and other matters pertaining thereto and further particulars. A complete copy of Resolution No. 4983, A Resolution of the City Commission of the City of Bozeman to Levy a Special Assessment Upon All Benefitted Property in Special Improvement District 750, is also on file with the Bozeman City Clerk. The Resolutions and accompanying exhibits may be also viewed on the City’s website at www.bozeman.net.
The City proposes to undertake certain local improvements to benefit certain property located in the city. The Improvements consist of roadway improvements to North Tracy Avenue between Villard Street and Peach Street, including: repaving the road, replacement of curbing, installation of storm drainage improvements and pedestrian ramps, as more particularly described in Section 5 of Resolution 4983 (the “Improvements”). The total estimated costs of the Improvements is $447,000; however, the City has committed $223,500 from the City’s Street Maintenance District to reduce the costs to the District, leaving $223,500 of the costs of the Improvements, to be funded by the District (hereafter referred to as the District’s Share of the Improvements). It is the intention of the City Commission to create and establish in the City under Title 7, Chapter 12, Parts 41 and 42, MCA, as amended, the District for the purpose of financing the District’s Share of the Improvements and paying costs incidental thereto, including costs associated with the creation and administration of the District (collectively the “Incidental Costs”). The total estimated cost of the District’s Share of the Improvements, including such Incidental Costs, is $224,500. Subject to the limitations in Sect. 7-12-4222, MCA the general fund of the City may be used to provide loans to the special improvement district revolving fund or a general tax levy may be imposed on all taxable property in the City to meet the financial requirements of the revolving fund.
To fund the costs of the District’s Share of the Improvements, the Commission intends to provide the District a loan of approximately $224,500 from the City’s special improvement district revolving fund, the purpose of which is to finance the construction warrants related to the District’s Share of the Improvements and Incidental Costs. In doing so, the Commission intends to levy assessments against each property in the District pursuant to Sect. 7-12-4163, MCA (street frontage assessment method) to reimburse the special improvement district revolving loan fund in an amount to equal the principal of the loan of $224,500 plus interest at approximately 2.5% annually.
On Monday, March 4th, 2019, at 6:00 p.m., in the Commission Room of City Hall, 121 North Rouse Avenue, Bozeman, Montana, the City Commission will conduct a public hearing regarding adoption of Resolution 4984 creating the District and pass upon all written protests against the creation of the District, or the Improvements. If the District is created, the City Commission will then conduct a public hearing on adoption of Resolution 4984 levying a special assessment on property benefitted by SID 750, at which time objections to the adoption of Resolution 4984 will be heard.
Written protests against the creation of District 750 may be filed by an owner of real property within the proposed District whose property is liable to be assessed for the Improvements. Such protests must be delivered to the City Clerk at the City Hall, 121 North Rouse Avenue, Suite 200, Bozeman, Montana not later than 5:00 p.m., M.T., on Wednesday, February 27, 2019.
Further information regarding the proposed District or other matters in respect thereof may be obtained from the City Engineer, PO Box 1230, Bozeman, Montana, 59771 or by telephone at (406) 582-2280.
DATED this 7th day of February, 2019.
City of Bozeman
Sunday, February 10, 2019
Sunday, February 17, 2019