HomeMy WebLinkAbout1999 04_OPWA sale of 2 Promissary Notes_1999.16.15WHEREAS, 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 2. Ap-Prova. That all actions heretofore taken by the Authority in connection with
the issuance, sale and delivery of the 1999A Note and the 1999B Note, and all other aspects of the
transaction be and are hereby authorized, approved and ratified.
ON
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 Notes are paid.
Section 5. 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 6. 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 1999A Note and the 1999B Note and all other aspects of the
transaction.
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Marc 4fqtloZu'tlw&el)l,Ciiy Clerkl��d�
59
STATE OF OKLAHOMA )
)SS
COUNTY OF TULSA
I, 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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