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Home My WebLink About2013.11.19_OPWA Agenda11% PUBLIC NOTICE OF THE MEETING OF THE Cs; *al, OWASSO PUBLIC WORKS AUTHORITY , ?Ol FQ s° TYPE OF MEETING: Regular DATE: November 19, 2013 6,� TIME: 6:30 p.m. PLACE: Council Chambers, Old Central Building 109 N. Birch A Notice of the meeting and agenda filed in the office of the City Clerk and posted at City Hall at 6:00 p.m. on Friday, November 15, 2013. Xit&'r , �l l e4J Sherry Bishop, City Clerk AGENDA 1. Call to Order Chairman Doug Bonebrake 2. Invocation Doug Johnson of Beacon Hill Baptist Church 3. Flag Salute 4. Roll Call 5. Consideration and appropriate action relating to a request for approval of the Consent Agenda. All matters listed under "Consent' are considered by the Trustees to be routine and will be enacted by one motion. Any Trustee may, however, remove an item from the Consent Agenda by request. A motion to adopt the Consent Agenda Is non - debatable A. Approval of the Minutes of the November 5, 2013 Regular Meeting and the November 12, 2013 Work Session Attachment #5A B. Approval of Claims Attachment #5B C. Receipt of the Monthly Budget Status Report Attachment #5C 6. Consideration and appropriate action relating to items removed from the Consent Agenda 7. Consideration and appropriate action relating to the acceptance of a donation and a budget amendment in the OPWA Fund Roger Stevens Attachment # 7 Staff recommends Trustee acceptance of an anonymous donation in the amount of $5,000 and approval of budget amendment in the OPWA Fund increasing the estimated revenues and the appropriation for expenditures by $5,000. Owasso Public Works Authority November 19, 2013 Page 2 8. Consideration and appropriate action relating to Resolution No. 2013 -06 authorizing the Owasso Public Works Authority (the "Authority ") to issue its utility system and sales tax revenue note, series 2013 (the "Note ") in the aggregate principal amount of $2,915,000.00; 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 of Owasso, Oklahoma (the "City ") and the Authority pertaining to a year -to -year pledge of certain sales tax revenue; approving and authorizing execution of a Series 2013 Supplemental Note 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; ratifying and confirming a lease agreement; establishing the Authority's reasonable expectation with respect to the issuance of tax - exempt obligations by the Authority in calendar year 2013, 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, including professional services agreements; and containing other provisions relating thereto Sherry Bishop Attachment #8 Staff recommends adoption of Resolution No, 2013 -06. 9. Report from OPWA Manager 10. Report from OPWA Attorney 11. New Business (New Business is any item of business which could not have been foreseen at the time of posting of the agenda) 12. Adjournment OWASSO PUBLIC WORKS AUTHORITY MINUTES OF REGULAR MEETING Tuesday, November 5, 2013 The Owasso Public Works Authority met in regular session on Tuesday, November 5, 2013 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 pm. on November 1, 2013. 1. Call to Order Chairman Bonebrake called the meeting to order at 6:49 pm. 2. Roll Call Chairman - Doug Bonebrake: Present Vice Chairman - Chris Kelley: Present Trustee - Charlie Brown: Present Trustee - Jeri Moberly: Present Trustee - Patrick Ross: Present A quorum was declared present Staff Interim Authority Manager - Warren Lehr Authority Attorney- Julie Lombardi 3. Consideration and appropriate action relating to a request for approval of the Consent Agenda. All matters listed under "Consent" are considered by the Trustees to be routine and will be enacted by one motion. Any Trustee may, however, remove an item from the Consent Agenda by request. A motion to adopt the Consent Agenda is non - debatable A. Approval of the Minutes of the October 15, 2013 Regular Meeting Attachment #3A B. Approval of Claims Attachment #3B Mr. Brown moved, seconded by Mr. Ross, to approve the Consent Agenda with claims totaling $543,393.59. Also included for review was the payroll payment report for 10/ 19/13. YEA: Brown, Kelley, Moberly, Ross, Bonebrake NAY: None Motion carried 5 -0 4. Consideration and appropriate action relating to items removed from the Consent Agenda No action required Owasso Public Works Authority November 5, 2013 Page 2 5. Consideration and appropriate action relating to authorizing the distribution of bid packets with respect to the refunding transaction of certain existing indebtedness to the Oklahoma Water Resources Board (OWRB) Linda Jones presented the item and introduced Alan Brooks, Nate Ellis, and Ben Ogelsby. Ms. Jones recommended Trustee authorization for bid packet distribution relating to the OWRB refunding transaction (Series 2006 Drinking Water SRF Promissory Note to OWRB dated March 8, 2006). Following discussion, Ms. Moberly moved, seconded by Dr. Kelley to authorize the distribution of bid packets, as recommended. YEA: Brown, Kelley, Moberly, Ross, Bonebrake NAY: None Motion carried 5 -0 6. Report from OPWA Manager No Report 7. Report from OPWA Attorney No Report 8. New Business None 9. Adjournment Mr. Ross moved, seconded by Mr. Brown to adjourn the meeting. YEA: Brown, Kelley, Moberly, Ross, Bonebrake NAY: None Motion carried 5 -0 and the meeting was adjourned at 7:30 pm. Doug Bonebrake, Chairman Juliann M. Stevens, Minute Clerk OWASSO CITY COUNCIL, OPWA, AND OPGA MINUTES OF JOINT REGULAR MEETING Tuesday, November 12, 2013 The Owasso City Council, Owasso Public Works Authority, and Owasso Public Golf Authority met in a joint regular meeting on Tuesday, November 12, 2013 in the Council Chambers at Old Central, 109 N. Birch Street, per the Notice of Public Meeting and Agenda posted on the City Hall bulletin board at 6:00 pm on Friday, November 8, 2013. ITEM 1: CALL TO ORDER Mayor Bonebrake called the meeting to order at 6:00 pm PRESENT ABSENT Doug Bonebrake, Mayor /Chairman Chris Kelley Vice Mayor /Vice Chairman Charlie Brown Councilor /Trustee Jeri Moberly, Councilor /Trustee Patrick Ross, Councilor /Trustee A quorum was declared present ITEM 2: DISCUSSION RELATING TO ADMINISTRATION ITEMS A. OWRB Refinancing 2006 Note B. Ranch Creek Interceptor- Bids and Financing C. Tulsa Regional Chamber of Commerce 2014 OneVoice Legislative Agenda D. Website Content Management E. Code of Ordinances, Section 2 -412: Addressing the Council F. Tobacco Settlement Endowment Trust (TSET) -- Healthy Communities Incentive Grants Sherry Bishop presented item A and discussion was held. It was explained that final action on the refinancing would require approval by the Council and the OPWA and that staff anticipates placing items on the November 19, 2013 agendas for consideration and appropriate action. Roger Stevens presented item B, explaining that construction bids were publicly opened earlier in the day and staff is reviewing all bids received. It was further explained that an item will be placed on the December 3rd Council and OPWA agendas for consideration and appropriate action. John Feary presented item C and discussion was held. This item will be placed on the November 19th agenda for consideration and appropriate action. Teresa Willson presented item D and introduced a website content management project that the IT Department has initiated. Ms. Willson advised that as the project develops she will update the Council during a future worksession. Juliann Stevens presented item E and discussion was held. This item will be placed on the November 1911 agenda for consideration and appropriate action. Sherry Bishop presented item F and discussion was held. Ms. Bishop explained this information was provided to assure that Councilors are aware of the Certified Healthy Communities program and that staff is reviewing policy and procedure modifications needed for Owasso to become a Certified Healthy City. November 12, 2013 Page 2 The Council recessed the meeting at 7:45 pm and returned at 7:55 pm. ITEM 3: DISCUSSION RELATING TO OPERATIONAL ITEMS A. Recycle Center Master Plan Presentation Roger Stevens presented the item and introduced Scott Pasternak with SAIC. Mr. Pasternak presented the Recycle Center Master Plan. A copy of the presentation was provided to members of the Council. Mr. Stevens advised that additional discussion would occur during the December worksession. ITEM 4: DISCUSSION RELATING TO CITY MANAGER ITEMS A. City Manager Report • Sales Tax Report • RFQs for former bank building remodel • Land Use Master Plan Sherry Bishop provided the monthly sales tax report and discussion was held. Warren Lehr advised that requests for qualifications were received for the former bank building remodel for city hall that staff is evaluating each submission. Mr. Lehr further advised that additional discussion would occur during the December worksession. Warren Lehr provided a timeline for the Land Use Masterplan revision and explained that staff is on schedule to have a draft plan completed by March 2014 for public review and Council consideration and appropriate action. Mr. Lehr also announced that INCOG Board of Directors approved Surface Transportation funding for the Garnett Widening Project in the amount of $3.2 million and discussion was held. ITEM 5: REPORT FROM CITY COUNCILORS Mayor Bonebrake expressed appreciation to city staff and attendees for participation in the Veterans Parade and Veterans Appreciation Ceremony. Councilor Ross advised that the Bailey Elementary First Lego League Team placed I st in their competition event. ITEM 6: CONSIDERATION AND APPROPRIATE ACTION RELATING TO A REQUEST FOR AN EXECUTIVE SESSION FOR THE PURPOSE OF DISCUSSING AN ECONOMIC DEVELOPMENT PROPOSAL TO ENTICE A BUSINESS TO LOCATE IN THE OWASSO AREA; SUCH REQUEST PURSUANT TO TITLE 25 O.S. § 307(C)(10) Councilor Moberly moved, second by Councilor Kelley to enter into executive session. YEA: Brown, Kelley, Moberly, Ross, Bonebrake NAY: None Motion carried 5 -0. The Council with Chelsea Levo, Warren Lehr, and Julie Lombardi entered into executive session at 8:03 pm. At 8:40 pm the Council returned to the Council Chambers and resumed in open meeting. ITEM 7: CONSIDERATION AND APPROPRIATE ACTION RELATING TO A REQUEST FOR AN EXECUTIVE SESSION FOR THE PURPOSE OF DISCUSSING PROSPECTIVE CANDIDATES FOR EMPLOYMENT FOR THE POSITION OF CITY MANAGER; SUCH REQUEST PURSUANT TO TITLE 25 O.S. § 307(8)(1) Councilor Brown moved, seconded by Councilor Ross to enter into executive session. November 12, 2013 Page 3 YEA: Brown, Kelley, Moberly, Ross, Bonebrake NAY: None Motion carried 5 -0. The Council entered into executive session with Gary Holland of SGR and City Attorney Julie Lombardi at 8:41 pm. At 10:20 pm the Council returned to the Council Chambers and resumed in open meeting. ITEM 8: ADJOURNMENT Councilor Brown moved for adjournment, seconded by Councilor Moberly. YEA: Brown, Kelley, Moberly, Ross, Bonebroke NAY: None Motion carried 5 -0 Meeting adjourned at 10:20 p.m. Doug Bonebrake, Mayor /Chairman Juliann Stevens, Minute Clerk Claims List 11119/2013 Budget Unit Title Vendor Name Payable Description PaymentAmount OPWA ADMINISTRATION UNIFIRST HOLDINGS LP UNIFORM RENTAL 52.91 1,144.2E UNIFIRST HOLDINGS LP UNIFORM RENTAL 49.91 ETCOR TECHNOLOGIES UNITED STATES CELLULAR CORPORATION CELL PHONE SERVICE 62.62 VEHICLE PARTS PURCH - OCT AT &T LONG DISTANCE LONG DISTANCE SERVICE 111.77 381.1 AEP IPSO ELECTRIC USE 630.33 (ORGAN CHASE BANK ONEOK, INC OKLAHOMA NATURAL GAS NATURAL GAS USAGE 248.17 UNIFORM RENTAL OWASSO CHAMBER OF COMMERCE REGISTRATION FEE, STATE O 35.00 TOTAL UTILITY BILLING n auo JPMORGAN CHASE BANK WALMART- CHARACTER TRAININ 167.32 IORGAN CHASE BANK JPMORGAN CHASE BANK SAMS CLUB - SUPPLIES 159.76 ATWOODS- CLAMPS JPMORGAN CHASE BANK SAMS CLUB - SUPPLIES 13.48 1,200.0( JPMORGAN CHASE BANK HOBBY LOBBY- SUPPLIES 3.99 JPMORGAN CHASE BANK HOBBY LOBBY- SUPPLIES 6.99', JPMORGAN CHASE BANK OFFICE DEPOT - SUPPLIES 24.92'. JPMORGAN CHASE BANK OFFICE DEPOT - SUPPLIES 17.16 JPMORGAN CHASE BANK PRECISION DOORS -DOORS 856.52 CITY GARAGE LABOR /OVERHEAD - OCT, 201 250.00 TOTAL OPWA ADMINISTRATION can on UTILITY BILLING TYRONE EUGENE DINKINS METER READER 287 HD SUPPLY - SUPPLIES KATHLEEN A BALSIGER METER READER 556 1,144.2E TODD C. KIMBALL METER READER 474 ETCOR TECHNOLOGIES JPMORGAN CHASE BANK OFFICE DEPOT - SUPPLIES 17 VEHICLE PARTS PURCH - OCT KATHLEEN A BALSIGER METER READER 146 381.1 TRACY HARLIN METER READER 215 (ORGAN CHASE BANK TODD C. KIMBALL METER READER 549 UNIFORM RENTAL TECHNICAL PROGRAMMING SERVICES INC IBILLING SERVICES 1 2,442 TOTAL UTILITY BILLING n auo (OF TULSA UTILITIES WATER 135,026.8, (ORGAN CHASE BANK HD SUPPLY - SUPPLIES 38.6' (ORGAN CHASE BANK HD SUPPLY- FITTINGS/PARTS 1,144.2E (ORGAN CHASE BANK FRONTIER INT'L- REPAIRS 549.3E ETCOR TECHNOLOGIES FUELMAN EXPENSES - OCT, 2 2,124.3E /GARAGE VEHICLE PARTS PURCH - OCT 1,033.7( 1 IPSO ELECTRIC USE 381.1 IORGAN CHASE BANK HD SUPPLY- TAPPING SADDLE 142.9( (ORGAN CHASE BANK ANCHOR PAINT -PAINT 51.2: FIRST HOLDINGS LP UNIFORM RENTAL 58.3E FIRST HOLDINGS LP UNIFORM RENTAL 54.3E IORGAN CHASE BANK KUM & GO -SAW GAS 5.2: IORGAN CHASE BANK UTILITY SUPPLY - SUPPLIES 1,466.1( IORGAN CHASE BANK ATWOODS- CLAMPS 7.91 IORGAN CHASE BANK ACCURATE ENVIRON- TESTING 1,200.0( Page 1 Claims List 11/19/2013 Budget Unit Title Vendor Name Payable Description PaymentAmount WATER... JPMORGAN CHASE BANK ACCURATE ENV - SAMPLING 1,480.00 TRI -STAR UTILITIES, INC. EQUIPMENT AND LABOR 24,500.00 CITY GARAGE LABOR/OVERHEAD - OCT, 201 1,720.83 JPMORGAN CHASE BANK HD SUPPLY - FITTINGS 2,796.71 JPMORGAN CHASE BANK HD SUPPLY- SUPPLIES 175.00 JPMORGAN CHASE BANK HD SUPPLY - REGISTER 129.52 JPMORGAN CHASE BANK HD SUPPLY - CLAMPS 1160 JPMORGAN CHASE BANK HD SUPPLY- REGISTERS 2,078.58 JPMORGAN CHASE BANK BROWN FARMS -SOD 80.00 JPMORGAN CHASE BANK IFLEET DISTRIB -COATS 257.13 TOTAL WATER 267,455.73 12" WATERLINE - 106TH ST RODNEY HUNT IDOZER WORK ON 106 STN 1,500.00 TOTAL 12" WATER LINE -106TH ST 1,500.00 WASTEWATER TREATMENT AEPIPSO ELECTRICUSE 20,173.01 CITY GARAGE LABOR /OVERHEAD - OCT, 201 666.66 JPMORGAN CHASE BANK GRAINGER -LAB SUPPLIES 41.59 JPMORGAN CHASE BANK LOWESSUPPLIES 10.42 JPMORGAN CHASE BANK LOWES- MATERIAL 40.54 JPMORGAN CHASE BANK HACH- CHEMICAL SOLUTIONS 32.55 JPMORGAN CHASE BANK HACH -LAB SUPPLIES 123.17 JPMORGAN CHASE BANK HACH -WATER 61.53 JPMORGAN CHASE BANK HACH -LAB SUPPLIES 191.57 JPMORGAN CHASE BANK AMAZON -WW TREATMENT BOOK 22616 JPMORGAN CHASE BANK GRAINGER- INSPECTION LIGHT 27.59 JPMORGAN CHASE BANK FLEET DISTRIBUTOR - JACKETS 99.56 JPMORGAN CHASE BANK FORT BEND - POLYMER 1,395.00 JPMORGAN CHASE BANK GELLCO -BOOTS 130.00 JPMORGAN CHASE BANK GRAINGER -FUSES 26.20 JPMORGAN CHASE BANK WASTE MGMT- SLUDGE REMOVAL 2,288.96 JPMORGAN CHASE BANK GREEN CO TEST - TESTING 242.05 JPMORGAN CHASE BANK HACH- SUPPLIES 54.84 JPMORGAN CHASE BANK HACH - SOFTWARE RENEWAL 1,560.00 JPMORGAN CHASE BANK ALDINGER- CALIBRATION 623.15 JPMORGAN CHASE BANK GRAINGER- RETURN - 219.38 UNIFIRST HOLDINGS LP UNIFORM RENTAL 78.89 UNIFIRST HOLDINGS LP UNIFORM RENTAL 63.04 JPMORGAN CHASE BANK LOWES- MATERIAL 31.47 JPMORGAN CHASE BANK LOWES- MATERIAL 4.68 JPMORGAN CHASE BANK GRAINGER- MATERIAL 99.68 JPMORGAN CHASE BANK NCL- SUPPLIES 32134 JPMORGAN CHASE BANK NCL -LAB SUPPLIES 196.18 SHELTON & SHELTON MASONRY, LLC IREMOVE CMU BLOCKS 1,600.00 Page 2 Claims List 11/19/2013 Budget Unit Title Vendor Name Payable Description PaymentAmount WASTEWATER TREATMENT.. JPMORGAN CHASE BANK DEQ- TESTING LICENSE APP 186.00 JPMORGAN CHASE BANK WASTE MGMT- SLUDGE REMOVAL 1,172.68 JPMORGAN CHASE BANK TERMINIX -PEST CONTROL 59.00 AT &T LONG DISTANCE LONG DISTANCE SERVICE 28.99 JPMORGAN CHASE BANK HOME DEPOT- KEYSIPARTS 53.10 CITY GARAGE VEHICLE PARTS PURCH - OCT 0.79 FLEETCOR TECHNOLOGIES FUELMAN EXPENSES - OCT, 2 568.55 TOTAL WASTEWATER TREATMENT 32,262.16 WASTEWATER COLLECTION! FLEETCOR TECHNOLOGIES FUELMAN EXPENSES - OCT, 2 586.16 BLUE ENERGY FUELS, LLC CNG FUEL PURCHASED - OCT, 8.43 CITY GARAGE VEHICLE PARTS PURCH - OCT 633.61 JPMORGAN CHASE BANK HD SUPPLY -MUCK BOOTS 101.68 JPMORGAN CHASE BANK HD SUPPLY - MANHOLE PARTS 760.60 JPMORGAN CHASE BANK HD SUPPLY- MANHOLE PARTS 155.00 JPMORGAN CHASE BANK HOME DEPOT -PARTS 3.18 VERDIGRIS VALLEY ELECTRIC COOP GARRETT CREEK ELECTRIC 129.81 VERDIGRIS VALLEY ELECTRIC COOP GARRETT CREEK ELECTRIC 254.15 VERDIGRIS VALLEY ELECTRIC COOP WATER CONTROL ELECTRIC 25.76 VERDIGRIS VALLEY ELECTRIC COOP COFFEE CREEK ELECTRIC 548.96 VERDIGRIS VALLEY ELECTRIC COOP DOUBLE OAKS ELECTRIC 5.97 JPMORGAN CHASE BANK ATWOODS -BOLTS 27.84 JPMORGAN CHASE BANK ATWOODS- UNIFORM APPAREL 99.99 AEP /PSO ELECTRIC USE 3,579.33 L & B DIRT PIT DIRT FOR DRESS UP 50.00 JPMORGAN CHASE BANK GRAINGER -TOOL 55.17 UNIFIRST HOLDINGS LP UNIFORM RENTAL 33.63 SHERWOOD CONSTRUCTION CO, INC CONCRETE 175.00 UNIFIRST HOLDINGS LP UNIFORM RENTAL 27.33 JPMORGAN CHASE BANK LOWES -PARTS 13.39 JPMORGAN CHASE BANK OREILLYS- ANTIFREEZE 65.94 JPMORGAN CHASE BANK OREILLYS - BATTERY 77.70 ONEOK, INC OKLAHOMA NATURAL GAS NATURAL GAS USAGE 148.03 JPMORGAN CHASE BANK FLEET DISTRIB- SAFETY COAT 49.95 JPMORGAN CHASE BANK FASTENAL -HARD HAT 12.90 JPMORGAN CHASE BANK FASTENAL -BOLTS 11.62 JPMORGAN CHASE BANK LOWES -KEYS 3.74 JPMORGAN CHASE BANK GELLCO - BOTTS /DENNIS 116.99 JPMORGAN CHASE BANK FLEET DISTRIB -COATS 257.11 CITY GARAGE I LABORIOVERHEAD - OCT, 201 916.66 TOTAL WASTEWATER COLLECTIONS 6,935.63 SANTA FE LIFT STATION GREELEY & HANSEN, LLC LBX 619776 ENGINEERING SERVICES 2,296.00 Page 3 Claims List 11/19/2013 Budget Unit Title I Vendor Name 77T77777TayabieDescription IPaymentAmountl TOTAL SANTA FE LIFT STATION 2,296.00 RANCH CREEK INTERCEPTOI SEVEN C'S ENTERPRISES, INC EASEMENT ACQUISITION 1,809.00 TOTAL RANCH CREEK INTERCEPTOR 1,809.00 ORIG TOWN SEWER LINE RE TERRACON CONSULTANTS INC ENGINEERING REPORT 3,250.00 TOTAL ORIG TOWN SEWER LINE REPL 3,250.00 HALES ACRES SEW LINE REF TERRACON CONSULTANTS INC ENGINEERING REPORT 3,250.00 TOTAL HALES ACRES SEW LINE REPL 3,250.00 REFUSE COLLECTIONS VERIZON WIRELESS WIRELESS CONNECTION 29.65 CITY GARAGE LABOR /OVERHEAD - OCT, 201 3,166.66 FLEETCOR TECHNOLOGIES FUELMAN EXPENSES - OCT, 2 10,154.81 UNIFIRST HOLDINGS LP UNIFORM RENTAL 44.80 L & M DUMPTRUCK & BACKHOE SERVICE YARDWASTE AREA PUSH OFF 4,000.00 T & W TIRE, LP TIRE REPLACEMENT 440.00 COVANTA LANCASTER, INC REFUSE TIPPING FEES 4,896.17 UNIFIRST HOLDINGS LP UNIFORM RENTAL 44.80 LENOX WRECKER SERVICE INC TOWING 180.00 UNITED STATES CELLULAR CORPORATION CELL PHONE SERVICE 62.63 JPMORGAN CHASE BANK WELDON- MONITOR CABLE 230.99 MCNEILUS FINANCIAL INC COIL FOR 05 -1 67.14 CITY GARAGE VEHICLE PARTS PURCH - OCT 1,823.28 BLUE ENERGY FUELS, LLC I CNG FUEL PURCHASED - OCT, 124.11 TOTAL REFUSE COLLECTIONS 25,265.04 RECYCLE CENTER CITY GARAGE VEHICLE PARTS PURCH - OCT 140.77 AEP /PSO ELECTRIC USE 68.64 NATIONAL WASTE & DISPOSAL, INC. GLASS ROLLOFF 200.00 UNIFIRST HOLDINGS LP UNIFORM RENTAL 10.98 UNIFIRST HOLDINGS LP UNIFORM RENTAL 10.98 JPMORGAN CHASE BANK WASTE MGMT- RECYCLE TPPING 2,087.53 CITY GARAGE LABOR /OVERHEAD - OCT, 201 166.66 JPMORGAN CHASE BANK LOWES- RECYCLE CTR PARTS 53.00 TOTAL RECYCLE CENTER 2,738.56 356,142.3 FUND GRAND TOTAL OPWA GRAND TOTAL $356,142.30 Page 4 OWASSO PUBLIC WORKS AUTHORITY PAYROLL PAYMENT REPORT PAY PERIOD ENDING DATE 11102113 Department Payroll Expenses Total Expenses OPWA Administration 7,956.74 11,374.91 Utility Billing 4,465.60 7,640.40 Water 11,729.47 19,622.66 Wastewater 9,484.57 16,251.52 Wastewater Collection 6,804.45 11,515.44 Santa Fe Lift Station 75.00 83.46 Refuse 10,309.30 16,205.29 Recycle Center 958.40 1,846.87 FUND TOTAL 51,783.53 84,540.55 OWASSO PUBLIC WORKS AUTHORITY - OPERATING FUND FISCAL YEAR 2013 -2014 Statement of Revenues & Expenses As of October 31, 2013 MONTH YEAR PERCENT TO -DATE TO -DATE BUDGET OFBUDGET OPERATING REVENUES: Water $ 507,913 $ 1,954,796 $ 5,440,000 35.93% Wastewater 312,555 1,202,843 3,450,000 34.87% Refuse & recycle 157,300 641,947 1,836,000 34.96% Other fees 35,053 158,718 524,000 30.29% Interest & other 1,531 202,700 216,220 93.75% TOTAL OPERATING REVENUES $ 1,014,351 $ 4,161,004 $ 11,466,220 36.29% OPERATING EXPENSES: Personal services $ 165,012 $ 732,512 $ 2,324,840 31.51% Materials & supplies 301,551 1,316,787 3,680,895 35.77% Other services 104,161 553,079 1,543,554 35.83% Capital outlay 39,136 72,921 5,162,442 1.41% Debt service 195,621 1,517,229 3,253,101 46.64% TOTAL OPERATING EXPENSES $ 805,481 $ 4,192,527 $ 15,964,832 26.26% REVENUES OVER EXPENSES $ 208,870 $ (31,523) $ (4,498,612) TRANSFERS IN (OUT) Transfers in $ - $ 118,550 $ 235,101 50.43% Transfers out - (100,000) (400,000) 25.00% TOTAL TRANSFERS $ - $ 18,550 $ (164,899) OWRB PROCEEDS AND EXPENDITURES Proceeds of OWRB debt $ - $ - $ 4,502,096 0.00% Expenditures of OWRB Debt (6,034) (13,333) (467,096) 2.85% TOTAL OWRB PROCEEDS AND EXPENDITURES $ (6,034) $ (13,333) $ 4,035,000 NET INCOME (LOSS) $ 202,836 $ (26,306) $ (628,511) WORKING CAPITAL - Beginning Balance $ 2,029,870 $ 2,029,870 WORKING CAPITAL - Ending Balance $ 2,003,564 $ 1,401,359 O—T�-Oc,t�y Wit out Limits. TO: The Honorable Chair and Trustees Owasso Public Works Authority FROM: Roger Stevens Public Works Director SUBJECT: Recommendation for Acceptance of Donation US Highway 169 Water Tank (Ram Tank) Lighting Project DATE: November 15, 2013 BACKGROUND: Built in 1984, the water tank along US Highway 169 (also referred to as the "Ram Tank ") serves an important role in the City of Owosso's water supply system. The tank stands 100 feet tall and is sixty feet in diameter with a 2,000,000 gallon capacity. With its highly visible location, the water tank has represented Owasso in name and displays the public school mascot. In June 2011, a citizen donated $69,400 to apply new paint and logos to the water tank. As you may recall, the ram logo was painted on the north and south sides of the tank. DONATION: The citizen contacted the City of Owasso inquiring about the lighting system at the water tower. The south side of the tank is illuminated; however the north side of the tank does not have any lighting source. The citizen is willing to contribute $5,000 towards a lighting project that will illuminate the logos on both sides of the tank. 11111061MY61111 Funding for this project will be provided by a private donor and available funds in the OPWA budget. RECOMMENDATION: Staff recommends acceptance of the donation in the amount of $5,000, and approval of a budget amendment in the OPWA Fund, increasing the estimated revenues and the appropriation for expenditures by $5,000. OTh'-'ty Wit out limits. TO: The Honorable Chair and Trustees Owasso Public Works Authority FROM: Sherry Bishop Assistant City Manager, Administrative Services SUBJECT: Debt Refunding - Series 2006 DWSRF Promissory Note to OWRB OPWA Resolution No. 2013 -06 DATE: November 15, 2013 �I�IS�][Z�lIPP Several weeks ago, our financial advisors, Municipal Financial Services, Inc., informed us there could be an opportunity to refinance the existing Series 2006 Oklahoma Water Resources Board (OWRB) loan at a reduced interest rate. The obligation proposed to be refinanced is the OPWA's Series 2006, Drinking Water State Revolving Fund ( DWSRF) Promissory Note to the OWRB dated March 8, 2006 with principal outstanding of $2,720,271 and a September 15, 2026 maturity date. The savings is possible due to the following factors: • The OWRB 2006 Series Note is subject to being called in April 2014 at par with no penalty. This 2006 Note was originally scheduled to mature in September of 2026. • Interest rates are generally lower than the 3.55% rate charged on the 2006 Series Note. • The proposed 2013 Series annual debt service payments would increase as 2004 and 2012 Series debt payments end, keeping total OPWA annual debt service payments essentially flat. • The final 5% allocation of Vision 2025 funding for this project is now available to be applied towards this debt. PROPOSED REFINANCING: The proposed refinancing would replace the OWRB note with bank financing with a shorter term and a lower interest rate. At the November 5, 2013 meeting, the OPWA Trustees voted to authorize the bid packet distribution related to this refinancing. On November 8, the following email bid notice was sent by Municipal Financial Services, Inc. to banks along with documents related to the bid process: The Owasso Public Works Authority is seeking bids from financial institutions for the purchase of its $2,915,000 Utility System and Sales Tax Revenue Note, Series 2013 for the purpose of refinancing an existing note originally issued in 2006. The 2013 Note will mature on October 1, 2018, representing a term of slightly less than 5 years. The note will be designated by the City as a "tax - exempt bank qualified obligation" and secured by a pledge of utility revenues and sales tax on a senior lien basis with certain other obligations. The bids are due on the attached Bid Form no later than 11:00 a.m.. Tuesday, November 19. 2013 and the Authority is set to consider the bids that evening. The issue would close on or about Friday, December 13, 2103, at which time the note would be paid for in full by the successful purchaser. PROPOSED ACTION: The OPWA resolution authorizes the issuance of a note in the amount of $2,915,000 for the purpose of refunding the Series 2006 DWSRF Promissory Note to the OWRB and confirms existing agreements between the City and the OPWA. The attached draft resolution is blank for the interest rate for which bids are due at 11:00 am, Tuesday, November 19. The final resolution for approval will be provided of the meeting Tuesday night. The resolution also authorizes the payment of costs, waives competitive bidding, hires the Financial Advisor and Bond Counsel, and authorizes execution of documents and other related provisions necessary for completion of the transaction. RECOMMENDATION: Staff recommends approval of OPWA Resolution No. 2013 -06 authorizing the issuance of a note and containing other related provisions. ATTACHMENTS: Draft OPWA Resolution No. 2013 -06 Bid Information Document for $2,915,000 Utility System and Sales Tax Revenue Note, Series 2013 dated November 7, 2013 OWASSO PUBLIC WORKS AUTHORITY RESOLUTION NO. 2013 -06 A RESOLUTION AUTHORIZING THE OWASSO PUBLIC WORKS AUTHORITY (THE "AUTHORITY ") TO ISSUE ITS UTILITY SYSTEM AND SALES TAX REVENUE NOTE, SERIES 2013 (THE "NOTE ") IN THE AGGREGATE PRINCIPAL AMOUNT OF $2,915,000.00; 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 OF OWASSO, OKLAHOMA (THE "CITY ") AND THE AUTHORITY PERTAINING TO A YEAR -TO -YEAR PLEDGE OF CERTAIN SALES TAX REVENUE; APPROVING AND AUTHORIZING EXECUTION OF A SERIES 2013 SUPPLEMENTAL NOTE 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; RATIFYING AND CONFIRMING A LEASE AGREEMENT; ESTABLISHING THE AUTHORITY'S REASONABLE EXPECTATION WITH RESPECT TO THE ISSUANCE OF TAX - EXEMPT OBLIGATIONS BY THE AUTHORITY IN CALENDAR YEAR 2013, 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, INCLUDING PROFESSIONAL SERVICES AGREEMENTS; AND CONTAINING OTHER PROVISIONS RELATING THERETO. NOW, THEREFORE, BE IT RESOLVED BY THE TRUSTEES OF THE OWASSO PUBLIC WORKS AUTHORITY: SECTION 1. INDEBTEDNESS AUTHORIZED. The Owasso Public Works Authority (the "Authority ") is authorized to incur an indebtedness by the issuance of its Utility System and Sales Tax Revenue Note, Series 2013 for and on behalf of the City of Owasso, Oklahoma (the "City "), in the aggregate principal amount of $2,915,000.00 (the "Note ") for the purpose of (i) advance refunding the outstanding principal amount of the Authority's Series 2006 Drinking Water SRF Promissory Note to Oklahoma Water Resources Board dated March 8, 2006, issued in the original principal amount of $4,853,250; (ii) funding a debt service reserve fund; and (iii) paying certain costs associated with the issuance of the Note. The Note shall bear interest at the rate of % per annum. The principal installments on the Note shall be paid as set forth on Exhibit "A" hereto. SECTION 2. COMPETITIVE BIDDING WAIVED. Competitive bidding on the sale of said Note is waived and the Note is authorized to be sold to , at a price of par. SECTION 3. SECURITY AGREEMENT. The Authority hereby ratifies and confirms the Security Agreement dated as of December 1, 1997, by and between the City and the Authority (the "Secu(ty Agreement "), which Security Agreement pertains to a year -to -year pledge of certain Sales Tax revenue as security for the Note. SECTION 4. SERIES 2013 SUPPLEMENTAL NOTE INDENTURE. The Series 2013 Supplemental Note Indenture, as it supplements and amends that certain General Bond Indenture dated as of December 1, 1997, as previously supplemented and amended (collectively referred to herein as the "Indenture "), all by and between the Authority and The Bank of New York Mellon Trust Company, N.A., as successor Trustee Bank, authorizing the issuance of and securing the payment of the Note approved in Section 1 hereof, is hereby approved and the Chairman or Vice - Chairman and Secretary or Assistant Secretary of the Authority are authorized and directed to execute and deliver same for and on behalf of the Authority. SECTION 5. ORGANIZATIONAL DOCUMENT SUBJECT TO THE INDENTURE. The organizational document creating the Authority is subject to the provisions of the Indenture referenced in Section 4 hereof. SECTION 6. LEASE AGREEMENT. The Lease dated July 31, 1973, as amended by Amendment to Lease dated as of July 1, 1996 (collectively, the "Lease Agreement "), both by and between the City and the Authority, whereby the City leases unto the Authority its then existing and thereafter acquired water, sanitary sewer, garbage and trash collection systems and the Bailey Ranch Golf Club, is hereby ratified and confirmed. SECTION 7. CERTIFICATE OF DESIGNATION. The Authority anticipates that the total amount of tax - exempt obligations (other than private activity bonds) issued by the Authority or other issuers on behalf of the City, will not exceed $10,000,000 for calendar year 2013, and hereby designates the Note to be a qualified tax- exempt obligation with respect to the financial institution interest deduction provisions contained in the Internal Revenue Code of 1986, as amended, and authorizes the Chairman or Vice Chairman of the Authority to execute and deliver on behalf of the Authority a Certificate of Designation to that effect. SECTION 8. EXECUTION OF NECESSARY DOCUMENTS. The Chairman or Vice - Chairman and Secretary or Assistant Secretary of the Authority are hereby authorized and directed on behalf of the Authority to execute and deliver the Note to , upon receipt of the purchase price and are further authorized and directed to execute all necessary documentation and closing and delivery papers required by Bond Counsel, including but not limited to professional services agreements with The Public Finance Law Group PLLC, as Bond Counsel, Municipal Finance Services, Inc., as the Authority's Financial Advisor, and Hawkins, Delafield & Wood LLP, as Special Tax Counsel; approve the disbursement of the proceeds of the Note, including any costs of issuance; to approve and make any changes to the documents approved by this Resolution, for and on behalf of the Authority, the execution and delivery of such documents being conclusive as to the approval of any changes contained therein by the Authority; and to execute, record and file any and all the necessary financing statements and security instruments, including but not limited to the documents approved hereby, and to consummate the transaction contemplated hereby. [Remainder of Page Left Blank Intentionally] PASSED AND APPROVED THIS 19TH DAY OF NOVEMBER, 2013. THE OWASSO PUBLIC WORKS AUTHORITY (SEAL) Doug Bonebrake, Chairman ATTEST: Sherry Bishop, Secretary EXHIBIT "A" [Principal Payment Schedule] Payment Date Principal Amount April 1, 2014 October 1, 2014 April 1, 2015 October 1, 2015 April 1, 2016 October 1, 2016 April 1, 2017 October 1, 2017 April 1, 2018 October 1, 2018 Exhibit A -1 $105,000 105,000 105,000 105,000 155,000 155,000 490,000 495,000 530,000 670,000 Municipal Finance ices, Inc. 3326 French Park Drive, 8alte 8 Edmond, OK 73034 Phone 406.340.1727 Fax 408.340.3607 +:: Owasso Public Ailiftority Bid Information Document for $2,915,000 Utility System and Sales Tax Revenue Note, Series 2013 Dated: November 7, 2013 im The Owasso Public Works Authority $2,915,000 Utility System and Sales Tax Revenue Note, Series 2013 Background The City of Owasso, Oklahoma (the "City "), has been assessing opportunities to refund certain outstanding indebtedness in order to realize debt service savings through the issuance of obligations by The Owasso Public Works Authority (the "Authority"). The Authority seeks to refund an existing note obligation to the Oklahoma Water Resources Board styled as Series 2006 Drinking Water SRF Note to OWRB originally issued in the principal amount of $4,853,250 (the 112006 Note "). The Authority, a public trust with the City of Owasso, Oklahoma as beneficiary, proposes to issue its Utility System and Sales Tax Revenue Note, Series 2013 (the "2013 Note ") in the principal amount of $2,915,000 to accomplish the refunding and pay costs of issuance associated with the 2013 Note, to be secured by certain Sales Tax Revenue and Utility System Revenue, as described herein. The City will be contributing $225,000 in available funds toward the redemption of the 2006 Note, The Owasso Public Works Authority The Owasso Public Works Authority was established as a public trust under Title 60, Sections 176 et seq., as amended, pursuant to the provisions of a Declaration of Trust dated January 10, 1973, for use and benefit of the City of Owasso, Oklahoma (the "City"), A general purpose of the Authority, among other purposes, is to provide funds for the cost of financing, acquiring, constructing, equipping, maintaining, repairing and operating any of the services or facilities for the benefit of the City. The Trustees of the Authority are the Mayor and four members of the City Council of the City with the Mayor serving as Chairman of the Authority. Mr. Warren Lehr serves as Acting City Manager and Ms. Sherry Bishop serves as City Clerk and Authority Secretary. Ms. Linda Jones is the City's Finance Director. The FEI Number for the Authority is73- 6069613. Financial Performance Audited Financial Statements for Fiscal Years Ended June 30, 2010, 2011, and 2012 for the City of Owasso and component units are enclosed herein. The City operates on a July I through June 30 fiscal year basis. Unaudited financial statements for fiscal year ended June 30, 2013 are also enclosed. 2006 Note The 2006 Note to be refunded is the Series 2006 Drinking Water SRF Promissory Note to Oklahoma Water Resources Board dated March 8, 2006 (the "2006 Note ") with a stated maturity date of September 15, 2026.. Proceeds from the 2006 Note were utilized to make water system improvements. The 2006 Note will be paid off on or about December 13, 2013 in the principal amount outstanding of $2,720,271.01 plus accrued interest through March 15, 2014 in the amount of $48,553.06, representing an aggregate redemption amount of $2,768,824.07. By virtue of the refunding, the Net Present Value Savings are estimated at $246,761 or 9.02% of the principal refunded. Utility system The Owasso Public Works Authority operates water, sanitary sewer, garbage and trash collection systems and the Bailey Ranch Golf Club (the "System ") for the benefit of the City pursuant to a Lease dated July 31, 1973, as amended by an Amendment to Lease dated as of July 1, 1996 between the Authority and the City. The City serves approximately 9,542 water customers and 11,300 sanitary sewer customers. [Some of the sewer customers are served water from surrounding rural water districts.] Revenues generated from the System (the "Utility System Revenues ") would be pledged to the 2013 Note along with certain sales tax revenues as described herein. Sales Tax Revenue Pursuant to Ordinance No. 153, the City levies a two percent (2 %) sales tax for the propose of supporting the municipal government of the City and the tax has no termination date. The 2013 Note will be secured by a senior lien pledge of the Utility System Revenues and revenues generated from the 2% sales tax (the "Sales Tax Revenue "). The Sales Tax Revenue is pledged pursuant to a Security Agreement dated as of December 1, 1997, between the City and the Authority, whereby the City agrees to appropriate the Sales Tax Revenue to the Authority on a year -to -year basis. In Fiscal Year 2013, two percent (2 %) sales tax generated $12,756,593. Historical sales tax collections for the City are included herein. Senior Lien Obligations The Authority has outstanding several notes secured on a senior lien basis by the Utility System Revenues and Sales Tax Revenues under a General Bond Indenture dated as of December 1, 1997, and subsequent Supplemental Indentures (collectively, the "Indenture "). Currently, the Authority has six (6) Promissory Notes to the Oklahoma Water Resources Board (OWRB) and one Utility System and Sales Tax Note outstanding, representing the Senior Lien Obligations. The 2013 Note will be issued on a parity or equally secured basis with the Senior Lien Obligations. In order to issue other obligations on a parity with the Senior Lien Obligations, the Authority must generate Net Utility Revenues plus the Sales Tax Revenue to cover average annual debt payments in each year by not less than 1.25 times and establish a Debt Service Reserve Fund. Subordinated Lien Obligations The Authority also has several subordinate lien obligations outstanding, secured by revenues of the System and Sales Tax Revenues, subject in all respects to the lien on the Senior Lien Obligations. Currently, the Authority has seven (7) Promissory Note to the Oklahoma Water Resources Board and one Utility System and Sales Tax Revenue Note. One of the seven OWRB- related notes is the 2006 Note which would be refunded with proceeds of the 2013 Note. A composite debt service schedule showing the annual payments on all existing obligations and the 2013 Note is attached Pending Obligation The Authority is in the process of acquiring funds for a sewer line replacement project (Ranch Creek Interceptor) through a new loan with the OWRB under the Clean Water SRF Loan Program (the "2013 CWSRF Note "). The new note is estimated to be in the principal amount of $3,990,000 and would be secured equally with other Subordinate Lien Obligations. The 2013 CWSRF Note would be repaid over 15 years after project completion with annual debt payments of approximately $320,856 at an estimated interest rate of 2.51 %. The 2013 CWSRF Note is scheduled to close on or about December 19, 2013. The Series 2013 Note The Authority will issue its Utility System and Sales Tax Revenue Note, Series 2013 in the principal amount of $2,915,000 to refund the 2006 Note and pay costs of issuance associated with the 2013 Note. The 2013 Note will be dated the date of delivery and mature in semi - annual installments on each April 1 and October 1, commencing April 1, 2014. Interest on the 2013 Note will be calculated using the 30/360 method and will be paid semi - annually on each April I and October 1, commencing April 1, 2014, The 2013 Note will be issued at one interest rate for all maturities with a final maturity of October 1, 2018. The 2013 Note will be issued as a non -rated obligation. The Authority is also requesting bids reflect any optional redemption provisions as offered by bidders. Security Pursuant to a Series 2013 Supplemental Note Indenture, as it supplements and amends the Indenture, the 2013 Note will be secured on a senior lien parity basis with the 2003 Bond by the Utility System Revenues and the Sales Tax Revenue. The 2013 Note does not represent an obligation of the City and is payable solely from the Sales Tax Revenue and the Utility System Revenue. The Authority will be required to make monthly deposits to the Trustee Bank as it is received in sufficient amounts to pay interest on and principal of the 2013 Note. An addition, as required by the Indenture, the 2013 Note will be secured by a Debt Service Reserve Fund in the amount of $291,500 or 10% of the principal amount of the Note. Debt Coverage Based on actual sales tax collections for Fiscal Year 2013 and unaudited financial operating results from FY 2013, Net Revenues Available for Debt Service (as defined in the Indenture) was $17,204,682. Maximum annual debt service requirements for the Senior Lien Obligations, including the 2013 Note, are projected to be $1,433,224 and maximum annual debt payments on all obligations, including the 2013 CWSRF Note, would have been $4,729,436. Consequently, debt coverage is estimated at 12,0 times on Senior Lien Obligations and 3.64 times on all obligations. See enclosed Financial Analysis for more details. Additional Parity Obligations Pursuant to the indenture, additional obligations may be issued on a parity or equal basis as long as the combination of Net Revenues Available for Debt Service at least 125% of the average annual debt service requirements for all obligations to be outstanding immediately after the delivery of such additional indebtedness. Private Placement The 2013 Note is to be issued as a Private Placement obligation to be purchased by a financial institution. As the subject of a Private Placement, the purchaser of the 2013 Note will be required to execute an Investment Letter, representing itself as an "accredited investor" pursuant to Rule 501 of Regulation D promulgated by the Securities and Exchange Commission. As such, the 2013 Note will have limited assignability or transferability other than to another accredited investor. In essence, the purchaser is purchasing the 2013 Note for its own account with the intent to hold the 2013 Note to final maturity, but may offer participation in the 2013 Note with other financial institutions. Tax - Exemption The Public Finance Law Group PLLC, Oklahoma City, Oklahoma, ( "PFLG ") is acting as Bond Counsel on the transaction. PFLG will issue an opinion to the purchaser that under current tax laws interest on the Note will be exempt from federal and State of Oklahoma income taxation. In addition, the City will designate the Note as "qualified tax- exempt obligations" within the meaning of Section 265(b) of the Internal Revenue Code of 1986, as amended. Certain tax matters will be addressed in an opinion of Hawkins, Delafield & Wood, LLP, New York, New York, as Special Tax Counsel to the Authority. Trustee Barak The Bank of New York Mellon Trust Company, N.A.in Tulsa, Oklahoma, will serve as Trustee Bank for the 2013 Note pursuant to the Indenture. Purchaser Bids The Authority will accept bids from potential purchasers of the 2013 Note on the Bid Form enclosed herein. The 2013 Note is to be sold at par (100 %) of the principal amount of the 2013 Note. Bids must be hand delivered or faxed to The Owasso Public Works Authority, no later than I1:00 a.m.. Tuesday. November 19.2013, The Authority will then consider the bids at a regular meeting at 6:30 p.m. on the same day in the City Council chambers and award the 2013 Note to the bidder offering the lowest interest rate. The Authority reserves the right to reject all bids. Please note that the Authority will provide the amount of $$4,000 from the 2013 Note proceeds for the successful Purchaser's Counsel to review the financing documents and cover other costs of the Purchaser. Any cost above this amount shall be paid by the successful Purchaser. The purpose of this provision is to advise potential bidders that the 2013 Note will be awarded solely on the interest rate bid and the resulting interest cost to the Authority. Payment for the 2013 More It is anticipated that the 2013 Note will be delivered to and paid for in full by the purchaser on or about December 13, 2013 (the "Closing Date "). On the Closing Date, the purchaser will wire the funds to the Trustee Bank and receive delivery of the 2013 Note for safekeeping. Authorhy Contacts Questions regarding the 2013 Note should be addressed to Ms. Linda Jones, City Finance Director, at 9181 376 -1525 or Mr. Rick A. Smith, Municipal Finance Services, Inc. (405!340- 1727), the Financial Advisor to the Authority. 1TeU *YUb9c Wo A9tbm417 wnunat7 of Scotty 11an and Se4wdiwro tie0 0 Wipum A 2,113 Na19 IRaetR.b nMetc 1 N%= % I NDtaB I = I Nate I = I Note I.1185T WAt W14 42,993 1419 25 76,972 254,182 85,910 22+.2M 22+ 4311230 2015 42,824 141322 76,637 17,348 83,708 382,760 ¢35980 2016 43,442 143,354 n,603 48,926 86,507 279,9ci 431,160 7011 42,937 141,915 76,878 1,433,224 84,348 53,108 49AW 2018 43,148 142,891 n1467 M.M ",789 98,413 $2,351 2019 5,293 18,152 9,742 193,333 22,173 1A11,4" 48,199 2020 45,613 6 %,5% 260,336 193,333 Mass 1,273,857 2021 53.325 45,389 696,505 2801336 193333 X122 52.064 43,164 696,505 280,336 193.333 "a 51,804 ",%I 6%,505 28D,336 20M 25,604 44.715 696,305 2025 193,333 ".am 2026 280,336 293.333 2027 6 %$OS 280 }36 193,333 2028 6 % }05 280336 193,393 2129 6 %,505 280.336 193,333 X130 6 %,505 2,00336 193,333 2031 696,505 280,336 2D32 6 96,505 Totals 2X1,787 729,7% 3 %,299 22],530 449,235 788001 1.351,830 (1) 0.efkattum of 116t.5aMte Reserve FuMS apdkd t0 hR Wymetrt 393,333 (4 Fstinnanl ,)mama. 1.60% 6 %505 280,336 193,333 (3) To M nd.nd d W 2013 W. 6 %,505 140,169 193,333 w9o,d aLien Ob6atbns 2,787,092 6,993,570 242,209 333911 406,504 12,537,%4 4,9)5,682 3,673,325 D'NSRF Note OMtt 2006 X107 Tot01w4 To1ai_' Nota (31 UC965T NaM tkn i Vavn 2,656900 2,9>5,456 4,384330 631,626 Mat N. 3,58;8]9 2033 Tafal I 19998 2003,3 20024 I 20099 200% 2013 ST NYS I2Y Senior Lkn Noto Nda Nate Nate Note Note__ 246,472 1,4MW 48,926 53,369 46,267 6 96905 280.336 193,333 252,440 1,433,224 48,684 53,108 46,063 6Ksos 280,336 393,333 M.M 1A30,707 98,413 $2,351 45,842 696,505 M,336 193,333 1,016,10 1A11,4" 48,199 $25E6 45,613 6 %,5% 260,336 193,333 Mass 1,273,857 47, %7 53.325 45,389 696,505 2801336 193333 56,950 52.064 43,164 696,505 280,336 193.333 51,804 ",%I 6%,505 28D,336 193,333 25,604 44.715 696,305 Miss 193,333 ".am 6 56,505 280,336 293.333 6 %$OS 280 }36 193,333 6 % }05 280336 193,393 6 %,505 280.336 193,333 6 %,505 2,00336 193,333 696,505 280,336 193,333 6 96,505 280,336 193,333 6 %,503 280,336 393,333 6 %505 280,336 193,333 6 %,505 140,169 193,333 193.333 2,787,092 6,993,570 242,209 333911 406,504 12,537,%4 4,9)5,682 3,673,325 D'NSRF Note OMtt 2006 X107 Tot01w4 To1ai_' Nota (31 UC965T NaM tkn i Vavn 2,656900 2,9>5,456 4,384330 631,626 2,149,655 3,58;8]9 Ijl %330 2,)28,01) 1316,5)2 2,J2B,W0 ],315,846 2,589,102 1,267,02 1,92;752 1,266.919 1,266,919 1,240,693 I.M0,693 1,214.664 1,214,664 3,90,174 1,170,174 1,170,174 1,170,174 1,170.174 1,170,174 1,170,174 1,M174 1,90.174 1,170,174 1,170,94 1,170,174 1,170,174 3,170,174 1.170,174 1,170,174 1,030,006 1.030,0% 193,333 193333 - 1466,226 24,649,140 31,"2,710 tuydowasw SateiTax [opestb6 Mamsy FYE1u0e30: 2006 =7 2068 2009 2010 2pi1 2032 2013 2014 3.0016 3.00;5 3.W% 3,00% 3.00% 3.00% 340% 3.00% 3.00% July 1 ,037,573.68 1,252,532.37 1,341,03793 1,463,146.16 1,523.29622 1,485,55257 1,521,67139 %630,95550 1,7D4,98a53 August 1,D35,717.94 1,334,83621 1,322,97&99 1,420,41794 1,457,190.41 1,uIIsIA 638 1,485,585.66 1,521,84641 1,6M,4 A6 September 1,035,632.81 336482&62 1,312,193,14 1,453,976.% 1,394,785.99 11133,235.57 1,485,891.81 1518,468.35 2,617,95246 O Lm, 981,341.39 3,248,085.34 1,361, 2.72 1,453,905.08 1,396,073.05 1,467,3213-0 1,517,700.88 1,527,250.78 1,677,14473 Nnvcmber 961,699.87 1161,834.48 1,335,464.6E LSMSM71 1222,18135 1,352,55129 1,426,986.61 1,447,595.59 Deecmber 9891988.83 L224,807.13 1335,944.n 1,497,046.05 1,481,442.33 1,423,010.85 1480,693.19 1,605,740,09 January 11103,892.80 1,445,29021 1,628,56599 1,652,272.89 1358,964.w 1,640,741,37 1,655,5685! 1,792,06555 February 1.%99,000.82 %510,401.30 1575,026,08 !,621,964.23 1,660,45842 1,675,132.30 1,748,279.0 1,817,864.06 Match 1.421,532.19 %108.328.52 1,292,MM %299,354.84 1283,2.50.04 1,327,302.74 1,405,820,76 11500,013.52 April 951,508$4 3,255964.10 %313,53263 1,289,1 %.50 3,288,89411 1,310,MAJI 1,454,78662 1,499.0&03 May 1,1'.2,227.72 1,352,262.60 %339,17096 1430,199.15 L506A35.50 1306,255.74 116101102.97 %629,48238 June %345,88&73 1,249,721.59 1,432,255.94 1,392.852.76 1,513,720.24 1,487,18233 1,547,83 880 1,643,87795 Total 13,016,005.67 15,509,889.47 15564,163.96 17,343,313.27 17,265691.76 17328,94293 1$343,006,26 1911341896,23 5678,56468 l cent colkctN 4,338,668.56 5,169,963.16 5,52%389.99 5,78L104A2 5,755,56192 5,892,98097 6,114,336.09 6,3752 %.74 %Charge 19.16% 680% 4.70% -0,44% 132% 4.64% 432% Nona: Cdlectlans for first 4 months of"2014 are 7.4% higher than the same parkA In the previous esal year The Owasso Public Works Authority Sales Tax and Utility System Revenue Note, Series 2013 Sources and Uses of funds Sources Par Amount of Note Cash Contribution - Vision 2025 Funds Total Sources Uses Retire 2006 DWSRF Note- Principal Retire 2006 DWSRF Note - Interest thru 3/15114 Reserve Fund Requirement Costs of Issuance Rounding Total Uses 2,915,000.00 225,000.00 3,140,000.00 2,720,271.01 48,553.06 291,500.00 76,800.00 2,875.93 3,140,000.00 The Owasso Public Works Authority $2,018,000 Sales Tax and Utility System Revenue Note, Series 2013 Estimated Debt Service Requirements Dated: 12/13/2013 Payment Principal Interest Die Payment Rate 04/01/14 105,000 1.60% 10101/14 105,000 1.60% 04/01/15 105,000 1.60% 10/01115 105,000 1.60 1/6 04/01/16 155,000 1.60% 10/01116 155,000 1.60% 04/01117 490,000 1.60% 10/01117 495,000 1.600/6 04/01/18 530,000 1.60 °A 10/01118 670,000 1.60 °A Totals 2,915,000 348,680.00 2,185,000 Average Interest Rate: 507,460.00 Weighted Average Life: Non Rated Bank Qualified Interest Total Fiscal Year Principal Payment Payment Payment Outstanding 13,992.00 118,992.00 2,810,000 22,480.00 127,480.00 246,472.00 2,705,000 21,640.00 126,640.00 2.600,000 20,800.00 125,800.00 252,440.00 2,495,000 19,960.00 174,960.00 2,340,000 18,720.00 173,720.00 348,680.00 2,185,000 17,480.00 507,460.00 1,695,000 13,560.00 508,560.00 1,016,040.00 1,200,000 9,600.00 539,600.00 670,000 5.360.00 675.360.00 1.214 960 00 0 163,592.00 3,078,592.00 3,078,592.00 1.60% 3.51 Bond Years The Owasso pu684 Works Authwdy swf TdsaM MAY sva . Revenue Note, SeAes2033 (RUfu 2006 DWSRF Now SaWnp Anftb Payment Pxhti� Proposal Payment Anno4l OdSC Payment Payment Difference Difference 04/01/14 131,936.61 118,992.00 (12,944.67) PYSavings� 1.6D% 10/OIA4 13193667 127,400,0 (4,45667) (17,4DL341 04/01115 131,936.67 126,640.00 (5,296.67) Net w SaWnp as% of Refu ed RIMIpal 10/01/15 13L936.67 125900,0 (6,136.67) (31,933.34] 04/02/16 131,936.67 174,960.00 43,023.33 10)01/16 131,936.67 173,720,0 41,783.33 84,806.66 04/01117 33193667 507A80.w 375,543.33 10/01/17 131,936.67 508,560.E 376,623.33 752,166.66 04/01/18 131,936.67 539,600.00 407,66333 10/02/18 131,936.67 615,360.00 543,423.33 951,MG6 04/01/19 131,936.67 (131,936.67) 20/01/19 131,936.67 (131,936.67) (263,87334) 04/01120 131936.61 (131,936.67) 10/01/20 13L936.67 (13193667) (263,87334) 04/01/21 232,93667 (131,936.67) 10/01/21 131936.67 (131,93667) (263,873.34) 04/01%22 131,936.67 (231,93667) 10/01/22 131936b7 (]31,936b7) (263,%13.94) 04/01/23 131936.67 (131,036.61) 10/01/23 131,93651 (131936.67) (263,873.34) 04/01/24 141936.67 (231,936.67) 30/DL/24 131,936.67 (133936.67) (263,87334) 04/01/25 131936.67 (131 ,936b7) 10/01/25 131,936.67 (331,93667) (263,873.34) 04/01/26 131,936.67 (131936.67) 10/01/26 131936.67 (631936.671 (263,873.34) Toi 3AW,35142 3.078592,0 {351,761A2) (351761,42) w savings Caloriatbn Grass Savings 35176152 PYSavings� 1.6D% 180,261.11 Lett Cash Contnbu0on (225,000.00) Add 2013 Reserve Fund 293,500.09 NetwS%4%, 246,761.11 Refutded PrIn6"I 2,720,2711 Net w SaWnp as% of Refu ed RIMIpal 9.07% Owasso Public works Authority Projected Debt Coverage w/2013 Note Based on FY 2013 Unaudited Financial Statements Operating Revenues Charges for services: 2,179,273 Water 4,982,158 Wastewater 3,369,555 Sanitation 1,785,390 Other Fees 458,654 Interest and Other Revenues 954,544 Total Operating Revenues 11,550,211 Operating Expenses (3) Personal Services 2,179,273 Materials and Supplies 3,397,196 Other Services 1,525,653 Total Operating Expenses 7,102,122 Net Operating Revenues 4,448,089 Non - Operating Revenues (Expenses) Sales Tax Revenue - 2% 12,756,593 Net Revenues Available for Debt Service 17,204,682 Debt Service Payments Senior Lien Obligations (2) (1,433,224) Subordinate Lien Obligations (3) (2,975,356) Pending 2013 CWSRF Note (4) (320,856) Total Note Payments (4,729,436) Net Revenues Before Transfers and Capital Outlay 12,475,247 Debt Coverage - Senior Lien Obligations 12.00 Debt Coverage - All Obligations 3.64