HomeMy WebLinkAbout2006.11.21_OPWA MinutesOWASSO PUBLIC WORDS AUTHORITY
MINUTES OF REGULAR MEETING
Tuesday, November 21, 2006
The Owasso Public Works Authority met in regular session on Tuesday, November 21, 2006 in
the Council Chambers at Old Central per the Notice of Public Meeting and Agenda posted on the
City Hall bulletin board at 6:00 p.m. on Friday, November 17, 2006.
ITEM 1. CALL TO ORDER
The meting was called to order at 7:15 p.m.
ITEM 2. FLAG SALUTE
The flag salute was held during the City Council meeting preceding this meeting.
ITEM 3. ROLL CALL
PRESENT ABSENT
Steve Cataudella, Chair
Brent Colgan, Mice Chair
D.J. Gall, Trustee
Wayne Guevara, Trustee
Susan Kimball, Trustee
A quorum, was declared present.
STAFF
Rodney J. Ray, Authority Manager
Julie Lombardi, Authority Attorney
ITEM 4. CONSIDERATION AND APPROPRIATE ACTION RELATING TO A
REQUEST FOR TRUSTEE APPROVAL OF THE, CONSENT AGENDA
A. Approval of Minutes of the November 7, 2006 Regular Meeting,
B. Approval of Claims.
C. Acknowledgement of receiving the monthly FY 2006-2007 budget status report.
Mr. Colgan moved, seconded by Mr. Guevara, to approve the OPWA Consent Agenda with
claims totaling $548,364.23 and payroll claims totaling $68,794,59,
YEA: Cataudella, Colgan, Gall, Guevara, Kimball
NAY: None
Motion carried 5-0.
Owasso Public Works Aiithorit17
Noveiiiber 21, 2006
ITEM 5. CONSIDERATION AND APPROPRIATE ACTION RELATING TO A
REQUEST FOR TRUSTEE APPROVAL OF RESOLUTION NO. 2006-08, A
RESOLUTION AUTHORIZING THE OWASSO PUBLIC WORDS
AUTHORITY (THE "AUTHORITY") TO ISSUE ITS UTILITY SYSTEM AND
SALES TAX REVENUE NOTE, SERIES 2006 (THE "NOTE") IN THE
AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED $4,000,000.00;
WAIVING COMPETITIVE BIDDING AND AUTHORIZING THE NOTE TO BE
SOLD ON A NEGOTIATED BASIS; RATIFYING AND CONFIRMING A
SECURITY AGREEMENT BY AND BETWEEN THE CITY AND THE
AUTHORITY PERTAINING TO A YEAR-TO-YEAR PLEDGE OF CERTAIN
SALES TAX REVENUE; APPROVING AND AUTHORIZING EXECUTION OF
AN INDENTURE AUTHORIZING THE ISSUANCE AND SECURING THE
PAYMENT OF THE NOTE; PROVIDING THAT THE ORGANIATIONAL
DOCUMENT CREATING THE AUTHORITY IS SUBJECT TO THE
PROVISIONS OF THE INDENTURE; RATIFYING AND CONFIRMING A
LEASE AGREEMENT; DESIGNATING AN ESCROW TRUSTEE AND
APPROVING AND AUTHORIZING EXECUTION OF A REFUNDING
ESCROW AGREEMENT, ESTABLISHING THE AUTHORITY'S
REASONABLE EXPECTATION WITH RESPECT TO THE ISSUANCE OF
TAX-EXEMPT OBLIGATIONS BY THE AUTHORITY IN CALENDAR YEAR
2006, AND DESIGNATING THE NOTE AS A QUALIFIED TAX-EXEMPT
OBLIGATION; AUTHORIZING AND DIRECTING THE EXECUTION OF THE
NOTE AND OTHER DOCUMENTS RELATING TO THE TRANSACTION;
AND CONTAINING OTHER PROVISIONS RELATING THERETO
Ms. Bishop presented the item. Mr. Colgan moved, seconded by Mr. Guevara, for Trustee
adoption of Resolution No. 2006-08 authorizing the OPWA 2006 Revenue Note and containing
other related provisions.
YEA: Cataia.della, Colgan, Gall, Guevara, Kimball
NAY. Norte
Motion. carried 5-0.
ITEM 6. CONSIDERATION AND APPROPRIATE ACTION RELATING TO A
REQUEST FOR TRUSTEE APPROVAL. OF A LAND PURCHASE
AGREEMENT FOR THE PURCHASE OF REAL PROPERTY TO WIT: 7
ACRES, MORE OR LESS, LOCATED AT EAST 86T1I STREET NORTH AND
NORTH MAIN STREET OWNED BY MR. WESLEY ATOR; AND,
AUTHORIZATION FOR THE CHAIRMAN TO EXECUTE ALL NECESSARY
DOCUMENTATION RELATING TO THE FINANCING OF SUCH LAND
PURCHASE
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Olwcrsso Public Works Aulhority
Novei)zber 21, 2006
Ms. Lombardi presented the item. Mr. Ray stated that the Council should Know that, if Council
approves this item, the first payment of $715,000.00 to Mr. Ator will be due on December 1,
2006 which is before the School Board meets on December 11 to approve the lease/purchase of
the land from the City. Therefore, the City will pay the $300,125.00 for the City's purchase of
Right of Way as a part of this $715,000.00 payment but $414,875.00 will be paid to Mr. Ator
before the lease agreement between Owasso Public Schools and the City of Owasso is finalized.
Mr. Colgan moved, seconded by Mr. Guevara, to approve the Land Purchase Agreement and
Mutual Release and authorize the Mayor to execute both documents.
YEA: Cataudella, Colgan, Gall, Guevara
NAY: Kimball
Motion carried 4-1.
ITEM 7. CONSIDERATION AND APPROPRIATE ACTION RELATING TO A
REQUEST FOR TRUSTEE APPROVAL OF RESOLUTION NO. 2006-09, A
RESOLUTION AUTHORIZING THE OWASSO PUBLIC WORDS
AUTHORITY (THE "AUTHORITY") TO ISSUE ITS PROMISSORY NOTE,
SERIES 2006 (THE 66NOTE") IN THE AGGREGATE PRINCIPAL AMOUNT OF
NOT TO EXCEED $2,000,000.00; WAIVING COMPETITIVE BIDDING AND
AUTHORIZING THE NOTE TO BE SOLD ON A NEGOTIATED BASIS,
APPROVING AND AUTHORIZING EXECUTION OF AN INDENTURE
AUTHORIZING THE ISSUANCE; AND SECURING THE PAYMENT OF THE
NOTE; PROVIDING THAT THE ORGANIZATIONAL DOCUMENT
CREATING THE AUTHORITY IS SUBJECT TO THE PROVISIONS OF THE
INDENTURE; APPROVING AND AUTHORIZING EXECUTION OF A LEASE
PURCHASE AGREEMENT; ESTABLISHING THE AUTHORITY'S
REASONABLE EXPECTATION WITH RESPECT TO THE ISSUANCE OF
TAX-EXEMPT OBLIGATIONS BY THE AUTHORITY IN CALENDAR YEAR
2006, AND DESIGNATING THE NOTE AS A QUALIFIED TAX-EXEMPT
OBLIGATION; AUTHORIZING AND DIRECTING THE EXECUTION OF THE
NOTE AND OTHER DOCUMENTS RELATING TO THE TRANSACTION,
AND CONTAINING OTHER PROVISIONS RELATING THERETO
Ms. Bishop presented the item. Mr. Colgan moved, seconded by Mr. Gall, for Trustee approval
of Resolution No. 2006-09,
YEA: Cataudella, Colgan, Gall, Guevara
NAY: Kimball
Motion carried 4- 1.
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Owasso Public Works Awhority
Noverraber 21, 2006
ITEM 8. REPORT FROM OPWA MANAGER
None
ITEM 9. REPORT FROM OPWA ATTORNEY
None
ITEM 10. NEW BUSINESS
None
ITEM 11. ADJOURNMENT
Ms. Kimball moved, seconded by Mr.. Guevara, to adjourn.
YEA: Cataudella, Colgan, Gall, Guevara, Kimball
NAY: None
Motion carried 5-0 and the meeting was adjourned at 7:40 p.m.
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Pat Fry, Minute Clerk —`-
F
t' .
Steve Cataudella, Chairman
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