HomeMy WebLinkAbout2001 01_OPWA_Expend Funds for Sanitary Sewer Line_Engineering_Legal Fees_2001.01.16
THE OW ASSO PUBLIC WORKS AUTHORITY
RESOLUTION NO 2001-01
A RESOLUTION DECLARING THE INTENT OF THE OW ASSO PUBLIC
WORKS AUTHORITY (THE "AUTHORITY") TO EXPEND CERTAIN
FUNDS FOR SANITARY SEWER LINE CONSTRUCTION AND RELATED
ENGINEERING AND LEGAL FEES, WITH SAID EXPENDITURES TO BE
REIMBURSED FROM THE PROCEEDS OF DEBT TO BE INCURRED BY
THE AUTHORITY; AND CONTAINING OTHER PROVISIONS RELATING
THERETO.
WHEREAS, the Authority is considering (i) construction of approximately 6,000 feet of
18 inch gravity sewer line that will result in the elimination of the Ator lift station, (ii) upon the
issuance of debt, the funding of a debt service reserve fund, and (iii) the payment of certain
engineering and legal fees (collectively, the "Project;), and
of the Project through
intent to eventually fund the cost
WHEREAS, it is the Authority's
issuance of debt obligations; and
the Project
to
initially fund certain costs pertaining
the
WHEREAS, the Authority desires to
out ofthe Authority's cash reserves; and
itself
uv-..::. of the
RESOLVED BY THE TRUSTEES OF THE OW ASSO
IT
NOW, THEREFORE, BE
PUBLIC WORKS AUTHORITY:
of (i)
in the
the
Section 3. Declaration of Official Intent. This Resolution constitutes a declaration of
official intent as is required pursuant to Section 1.150-2 of the Treasury Regulations promulgated
pursuant to Sections 103 and 141-150 of the Internal Revenue Code of 1986, as amended.
..
consist
result
and (iii)
to
sewer will
service reserve fund,
the Proj ect
line that
Section tion. The Authority anticipates
construction of approximately 6,000 feet of 18 inch gravity
elimination of the Ator lift station, (ii) the funding of a debt
payment of certain engineering and legal fees
1
the
of
by the Trustees
2001
16th day of January,
this
APPROVED AND ADOPTED
Owasso Public Works Authority.
Name
Title:
Marcia Boutw
Secretary
OPW A Resolution #2001-01
Page 2
AS TO FORM
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