HomeMy WebLinkAbout1973 47_Sold General Obligations Bonds_1973.07.03
THE CITY COUNCIL OF THE CITY OF OWASSO, STATE OF OKLAHOMA, met in regular
session at the city hall in said city on the 3rd day of July, 1973 at 7:00
O'clock P.
PRESENT: JOE ROSS, Mayor
JERRY K. MYERS, Vice Mayor
ROBERT K. BALL, Councilman
HAROLD D. LARGE, Councilman
v. D. DUNCAN, Councilman
~~RCIA G. RIGGS, City Clerk
ABSENT: Joe R033w
RESOLUTION NO. ' ~
"4'(
WHEREAS the City of Owasso, State of Oklahoma has heretofore issued and sold
$535,000.00 General Obligation (combined purpose) Bonds dated July 1 1973;
and
~lliEREAS the City Council of said city has pledged to the voters of said city
that $200,000.00 of said authorization for Park Improvements is to be paid
from the sales tax collections; and
WHEREAS said $200,000.00 represents 37.3832% of the total amount of the bonds
issued and that proportion of the annual requirements is to be paid from
sales tax receipts, such funds to be provided effective at the same time as
the interest accrues on said bonds, NOW, THEREFORE, BE IT RESOLVED BY THE
COUNCIL OF THE CITY OF OWASSO, STATE OF OKLAHO~4:
ECTION 1
THAT beginning with the sales tax received from the Oklahoma Tax C&mmission
in the month of August, 1973 which will represent July collections, there
shall be set aside each month to and including the month of June, 1974, the
sum of $2,300.00.
SECTION 2.
THAT the sums set out in section 1 hereof shall be in addition to the sums
previously pledged from the same source for the payment of the principal
and interest on the following bonds of said city or the portion thereof now
au ts tanding ::
$120,000 Storm Sewer Bonds dated November 1 1970
20,000 Sidewalk Bonds dated November 1 1910
It was moved by Councilman Large and seconded by Councilman Ball
that the above resolution be adopted. The roll was called with the following
result:
AYES : DUNCAN LARGE BALL MYERS ~
NAYS :' NONE
PASSED AND APPROVED this the 3rd day of July,
(seal)
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