HomeMy WebLinkAbout1996 12_Golf course is a proper function of the city_1996.07.02BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OWASSO, OKLAHOMA
THAT:
Section 1: Authorized and Proper Function. The ownership and operation of a public
golf course is an authorized and proper function of the City of Owasso, Oklahoma for the health,
benefit and welfare of its citizeits.
Section 4: Dgpository Bank Agreement. The Depository Bank Agreement dated as
of July 1, 1996, by and among the City, the Authority and First Bank of Owasso pertaining to
the deposit of the sales tax revenue and utility revenue in said Bank and the transfer by the Bank
to the trustee of the Bonds as required by the Authority's Bond Indenture is hereby approved and
the Mayor is authorized and directed to execute and deliver same on behalf of the City. —
Section 5: Competitive Bidding Waived. The waiving of competitive bidding on the
c7ale of said Bonds by the Authority on a negotiated basis at a discount to Leo Oppenheim & Co
Inc, is hereby approved.
MW