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HomeMy WebLinkAbout2005 01_OPGA_Approve Revenue Antifipation Note_2005.04.19 OW ASSO PUBLIC GOLF AUTHORITY RESOLUTION NUMBER 2005-01 A RESOLUTION OF THE OW ASSO PUBLIC GOLF AUTHORITY AUTHORIZING THE ISSUANCE, EXECUTION AND DELIVERY OF THE OW ASSO PUBLIC GOLF AUTHORITY REVENUE ANTICIPATION NOTE IN AN AMOUNT NOT TO EXCEED TWO HUNDRED THIRTY-FOUR THOUSAND, THREE HUNDRED TWENTY-EIGHT DOLLARS ($234,328.00), TO THE CITY OF OW ASSO, OKLAHOMA, APPROVING THE AGREEMENT, FORM REVENUE ANTICIPATION NOTE AND OTHER DOCUMENTS AND AGREEMENTS AS MAY BE NECESSARY OR REQUIRED; AND CONT AINING OTHER PROVISIONS RELATING THERETO WHEREAS, the Owasso Public Golf Authority was created by a Declaration of Trust, dated as of August 8th 1989, (collectively the "Trust Indenture") for the use and benefit of the City of Owasso, Oklahoma (the "City") under authority of and pursuant to the provisions of Title 600.S. 1981, Section 176 to 180.3 inclusive as amended and supplemented and other applicable statutes of the State of Oklahoma; and, WHEREAS, the Authority has determined that it would be most advantageous at this time for the Authority to provide funds for the purchase of golf carts for use at the Bailey Ranch Golf Club; and meeting a form of Agreement and Revenue by and between the Authority and the WHEREAS, there has been presented to this Anticipation Note, dated as of the 1 st day of May, 2005 City of Ow as so, Oklahoma (the "Note"). OF THE NOW, THEREFORE, BE IT RESOL VED BY THE TRUSTEES OWASSO PUBLIC GOLF AUTHORITY THAT, TO-WIT: SECTION ONE. The Agreement and form of the Note presented to this meeting be, and hereby is, approved, and the Chairman or Vice-Chairman of the Trustees and the Secretary or any Assistant Secretary of Trustees of the Authority be, and hereby are, authorized, directed, and empowered to execute and deliver in the name of the Authority, the Agreement and the Note in said form and containing the terms and provisions contained in said Note, the execution thereof by such officers being conclusive evidence of such approval, and to execute and deliver in the name of and on behalf of the Authority all documents, closing papers, certificates and such other documents as are necessary to accomplish the issuance of the Revenue Anticipation Note. SECTION TWO. The signatures of the officers of the Authority appearing on the Agreement and the Note and other documents and agreements, closing papers and certificates executed and delivered pursuant to this resolution shall be conclusive evidence of their approval and documents on behalf of thereof and of their authority to execute and deliver such agreements the Authority. SECTION THREE. The Chairman or Vice-Chairman of the Trustees and the Secretary or any Assistant Secretary of the Trustees of the Authority be, and they hereby are, authorized and empowered for and on behalf of the Authority to execute and deliver such further agreements and documents and to take such action as such officer or officers may deem necessary or desirable in order to carry out and perform the Note and any contracts, documents, or instruments executed and delivered in connection with the issuance of the Note, and to effect the purposes thereof and to consummate the transactions contemplated thereby. 2005 9th day of April 1 this PASSED AND APPROVED OW ASSO PUBLIC GOLF AUTHORITY By: ATTEST APPROVED AS TO FORM: Authority Attorney