HomeMy WebLinkAbout2001 13_PW Promissary Note_2001.11.06RESOLUTION NO. 2001-13
WHEREAS, The Owasso Public Works Authority (the "Authority") did, by its Resolution
adopted on November 6, 2001, authorize the issuance, sale and delivery of (i) its Series 2001D
Interim Construction Clean Water SRF Promissory Note to Oklahoma Water Resources Board in
the original principal amount of $1,419,585 (the "2001D Note") and (11) its Series 2001E Clean
Water SRF Interim Construction Bond Loan Promissory Note to Oklahoma Water Resources
Board in the original principal amount of $945,000 (the "2001E Note"), all in order to finance
improvements to the Authority's wastewater system; and
WHEREAS, the Mayor and City Council hereby determine that the actions taken by the
Authority should be authorized and approved.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
OWASSO, OKLAHOMA THAT:
Section 1. Issuance of Notes. That the issuance, sale and delivery of the 2001D Note and
the 2001E Note by the Authority, all as approved by said Authority on November 6, 2001, be and
hereby is authorized, approved and ratified.
Section 2. A pproval. That all actions I heretof ore taken by the Authority in connection with
the issuance, sale and delivery of the 2001D Note and the 2001E Note, and all other aspects of the
transaction be and are hereby authorized, approved and ratified.
Section 3. Lease. The Lease dated July 31, 1973, as amended by an Amendment to Lease
dated as of July 1, 1996, between the City and the Authority, whereby the City leases its water,
sanitary sewer, garbage and trash collection systems and the Bailey Ranch Golf Club to the
Authority, is hereby ratified and confirmed and the term of said Lease, as amended, shall extend
until the 2001 D Note and the 2001 E Note are paid.
Section 4. Sales Tax Pledge. That the Mayor or Vice Mayor and City Clerk or Assistant
City Clerk be and are hereby authorized to execute and deliver any and all documentation on behalf
of the City pertaining to a year-to-year pledge of certain sales tax revenue levied pursuant to
Ordinance No. 103 of the City, as amended by Ordinance No. 153 of the City.
Section 5. Necessary Action. That the Mayor or Vice Mayor and City Clerk or Assistant
City Clerk be and hereby are authorized and empowered to execute and deliver for and on behalf of
the City any and all other documents or instruments reasonably necessary to accomplish the
issuance, sale and delivery of the 2001D Note and the 2001E Note and all other aspects of the
transaction.
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DIED AND ADOPTED this 6"' day of November, 2001.
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MarcBoutwell, City Clerk
Mary to- u B
,rehouse, Mayor
STATE OF OKLAHOMA )
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COUNTY OF TULSA
1, the undersigned, City Clerk of the City of Owasso, Oklahoma, do hereby certify that the
above and foregoing is a true, full and correct copy of an excerpt from the minutes of a meeting of
the City Council of said City held on the date above stated, all as recorded in the official minutes of
such meeting. I further certify that the "Open Meeting Law" was complied with for such meeting.
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Marcia outwell, �,City Clerk
PURSUANT TO THE LEGAL NOTICE AS IS REQUIRED BY THE OKLAHOM
OPEN MEETING ACT INCLUDING THE POSTING OF NOTICE AND AGENDA AS I
REQUIRED BY THE TERMS THEREOF, THE MAYOR AND CITY COUNCIL OF THE CIT
OF OWASSO, OKLAHOMA (THE "CITY") MET IN REGULAR SESSION IN SAID CITY 0
THE 6TH DAY OF NOVEMBER 2001, AT 6:30 O'CLOCK P.M. I
PRESENT: Mary Lou Barnhouse, Mayor; Randy Brogdon, Vice Mayor; H C Williams,
Councilor-, Rebecca Armstrong, Councilor; Michael Helm, Councilor
I NO
Thereupon, the following resolution was introduced and caused to be read by the City
Clerk. Councilor Helm moved passage of the Resolution and Councilor Williams seconded the
motion. The motion carrying with it the approval of said Resolution was approved by the
following vote:
AYE: Helm, Williams, Armstrong, Brogdon, Barnhouse
NAY: None
The Resolution so approved is as follows: