HomeMy WebLinkAbout1973 49_Indebtdness_1973.10.09LAW OFFICES
HIRSH, JOHANNING AND HUDSON
OKL.AHOMA CITY
A RESOLUTION RELA71ING TO THE INCURRING OF INDEBTED-
NESS TO BE PAID FRal THE INC0,ME FROM PROPERTY
OWNTED BY THE CITY OF OWASSO AND LEASED TO THE
OWASSO PUBLIC WORKS AUTHORITY; AND DECLARING AIN
B14ERGENCY:
WHEREAS, the Trustees of The Owasso Public Works Authority, a public trust,
have determined upon a project consisting of the extension and improvement of
the water and sanitary sewer systems serving the City of Owasso, the municipal
beneficiary of said public trust; and
WHEREAS, in order to finance said project, the Trustees of The Owasso Public
Works Authority intend to incur indebtedness in the aggregate principal amount
of $310,000.00, said indebtedness to be paid from the income of said systems
and facilities awned by the City of Owasso and Leased to the Trustees of the
Authority; and
WHEREAS,, said indebtedness is in excess of five percent (5%) of the total
debtedness of the Authority, now outstanding;
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF OWASSO, OKLAH0114A:
SECTION 1. The incurring of indebtedness by the Trustees of The Owasso Public
Works Authority in the aggregate principal amount of $310,0,)0.00,
to be paid from the income of the water �' anod sanitary sewer systems and facilities
owned by the City of Owasso and leased to the Trustees of The Owasso Pudic Works
Authority is hereby approved by the Council of said'City, the governing body of
said City®
SECTION 2® By reason of the need for the mediate extension and improvement
of the water and sanitary sewer systems and facilities of the City,
and for the preservation of peace, health and safety, an emergency is hereby de-
clared to exist and this Resolution shall be effective immediately upon _` -ts
adoption.
LAW OFFICES
HIRSH, JOHANNING AND HUDSON
OKLAHOMA CITY
I, the undersigned City Clerk of the City of Owasso, Oklahoma, hereby certify
that the foregoing is a true and correct copy of a Resolution adopted by the
Council of said City at a meeting held on the date therein stated, as the
same appears in the minutes of said meeting on file in my office as a part of
the official records thereof®
(Seal)
73. t er, ity of OwassoA071-Hsoma
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