HomeMy WebLinkAbout1982 04_Incurring Indebtednedd RMUA_1982.06.01RESOLUTION NO. 82-04.
A RESOLUTION RELATING TO THE INCURRING OF
INDEBTEDNESS BY THE TRUSTEES OF THE REGIONAL
METROPOLITAN UTILITY AUTHORITY AND DECLARING
AN EMERGENCY,
WHEREAS, The Trustees of The Regional Metropolitan Utility Authority have
determined to incur indebtedness in the aggregate amount of not to exceed
$800,000.00 evidenced by one promissory note of the Authority in the principal
amount of not to exceed $800,000.00 (the "Note") , for the purpose of providing
funds for the construction of extensions and improvements to the Authority's
waste water treatment facilities !the "Project"); and
WHEREAS, Bank of Oklahoma, N.A., Tulsa, Oklahoma (the "Bank") , has
offered to loan to the Authority the sum of not to exceed $800,000.00 to be
evidenced by the Note.
BE J RESOLVED BY THE COUNCIL OF THE CITY OF OWASSO, OKLAHOMA:
Section 1. The incurring of indebtedness by the Trustees of The Regional
Met ropo-1111tan Utility Authority in the aggregate principal amount of not to
exceed $800,000.00 to be evidenced by the Note of the Authority is hereby
approved by the Council of the City of Owasso, Oklahoma, the governing body of
said City.
Section 29 Competitive bidding is hereby specifically waived with respect to
777-777u,a-nce and sale of the Note and the issuance and sale of such Note,
dated as of July 1, 1982 and bearing interest at the rate of not to exceed
twelve percent ''12%) per annum to Bank of Oklahoma, N.A., Tulsa, Oklahoma, for
a purchase price equal to the par value thereof is hereby specifically
approved.
Section 3. By reason of the need for immediate preservation of the public
peace, 011th, safety and welfare of the City of Owasso, Oklahoma, and the
inhabitants thereof, an emergency is declared to exist for reason whereof this
Resolution shall be in full force and effect from and after its passage and
approval.
Adopted this 1st day of
ATTEST:
(SEAL)
City Cl erk 11
Inge —, 1982.
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Mayor