HomeMy WebLinkAbout1996 14_Approve indebtedness for OEDA_1996.09.17WHEREAS, the City Council of the City of Owasso, Oklahoma, the beneficiary of The Owasso
Economic Development Authority, an Oklahoma public trust (the "Authority"), met in regular
session on the 17th day of September, 1996, and after notice and hearing with respect to the
request of the Authority for City Council approval of (1) its incurrence of indebtedness in the
original principal amount of $1,500,000, to pay the cost of acquiring real property and
constructing a 14,045 square foot facility located on approximately 15.7 acres of land in Oak
Tree Business Park, within the corporate limits of the City of Owasso, Oklahoma, for lease to
and use by Oklahoma Natural Gas, an Oklahoma corporation and (2) Authority's waiver of
competitive bidding to permit the negotiated placement of said indebtedness, adopted the
following Resolution:
[NOW . •:. • 1 BY •. OF ' OF
OWASSO, OKLAHOMA:
THAT the issuance of up to $1,500,000 debt for The Owasso Economic
Development Authority Oklahoma Natural Gas project is hereby approved and
that the waiver of competitive bidding by the Trustees of the Authority is hereby
approved, to permit the Authority to negotiate the placement of said indebtedness.
APPROVED OPTED this 17th day of September, 1996 by the City Council of the
City of Owasso, Oklahoma.