HomeMy WebLinkAbout1996.07.02_OPWA MinutesOWASSO PUBLIC WORKS AUTHORITY
MINUTES OF REGULAR MEETING
Tuesday, July 2, 1996
The Owasso Public Works Authority met in regular session on Tuesday, July 2, 1996 in the
Council Chambers at the Owasso Community Center per the Notice of Public Meeting and
Agenda posted on the City Hall bulletin board at 4:00 p.m. on Friday, June 28, 1996.
ITEM 1: CALL TO ORDER
Chairman Ewing called the meeting to order at 7:05 p.m.
ITEM 2: INVOCATION
The invocation was given by Robert Carr, Public Works Director.
ITEM 3: FLAG SALUTE
The flag salute was led by Mayor Ewing.
ITEM 4: ROLL CALL
PRESENT
Danny Ewing, Chairperson
Joe Ramey, Vice Chairperson
Mary Lou Barnhouse, Trustee
Michael Helm, Trustee
Tracy Standridge, Trustee
STAFF
Rodney J Ray, City Manager
Ronald D Cates, Authority Attorney
Marcia Boutwell, Authority Secretary
A quorum was declared present.
ABSENT
ITEM 5: REQUEST APPROVAL OF THE MINUTES OF JUNE 18, 1996 REGULAR
MEETING.
Mr Standridge moved to approve the minutes as written, by reference hereto; seconded by
Mr Helm.
AYE: Standridge, Helm, Barnhouse, Ramey, Ewing
NAY: None
Motion carried 5-0.
Owasso Public Works Authority July 2, 1996
ITEM 6: REQUEST APPROVAL OF CLAIMS
Mr Standridge moved, seconded by Ms Barnhouse, to approve the following claims as
submitted: (1) OPWA Fund $7,440.52; (2) Payroll $25,879.83.
AYE: Standridge, Barnhouse, Helm, Ramey, Ewing
NAY: None
Motion carried 5-0.
ITEM 7: CONSIDERATION AND APPROPRIATE ACTION RELATING TO A
REQUEST FOR TRUSTEE ADOPTION OF OPWA RESOLUTION #96-03 A
RESOLUTION AUTHORIZING THE OWASSO PUBLIC WORKS
AUTHORITY TO ISSUE ITS UTILITY REVENUE BONDS SERIES 1996 IN
AN APPROXIMATE AGGREGATE PRINCIPAL AMOUNT OF $5 340 000
FOR THE PURPOSE OF ACQUIRING THE BAILEY GOLF RANCH:
WAIVING COMPETITIVE BIDDING FOR THE SALE OF SAID BONDS AND
AUTHORIZING SAME TO BE SOLD ON A NEGOTIATED BASIS AT A
DISCOUNT: APPROVING A BOND PURCHASE AGREEMENT
PERTAINING TO THE NEGOTIATED SALE OF THE BONDS: APPROVING
A SUPPLEMENTAL BOND INDENTURE AUTHORIZING THE ISSUANCE
AND SECURING THE PAYMENT OF SAID BONDS: AGREEING TO
PROVIDE SECONDARY MARKET DISCLOSURE• APPROVING AN
AMENDMENT TO LEASE WITH THE CITY RELATING TO THE PUBLIC
GOLF COURSE: APPROVING A SECOND SUPPLEMENTAL SECURITY
AGREEMENT PERTAINING TO THE USE AND PLEDGING OF THE
CITY'S 3 % SALES TAX: APPROVING A DEPOSITORY BANK
AGREEMENT WITH FIRST BANK OF OWASSO• AUTHORIZING AND
DIRECTING THE EXECUTION AND DELIVERY OF THE BONDS AND
OTHER DOCUMENTS RELATING TO THE TRANSACTION• DECLARING
THE BONDS TO BE BANK QUALIFIED• AND CONTAINING OTHER
PROVISIONS RELATING THERETO
Mr Ray explained that OPWA Resolution #96-03 authorizes the issuance of $5,340,000 revenue
Bonds, waives competitive bidding on the Bonds, approves a Bond purchase agreement with Leo
Oppenheim & Co Inc whereby they agree to purchase all Bonds for resale, approves a
Supplemental Bond Indenture, amends the lease between the City and OPWA of assets, adds the
golf course to the Security Agreement, establishes a Depository Bank Agreement with First Bank
of Owasso, and authorizes the Chair or Vice Chairto execute and have delivered the Bonds
upon receipt of purchase price. Mr Helm moved, seconded by Ms Barnhouse, to approve
OPWA Resolution #96-03.
AYE: Helm, Barnhouse, Standridge, Ramey, leg
NAY: Nm E w i n9
Motion carried6:
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Owasso Public Works Authority July 2, 1996
ITEM 8: REPORT FROM OPWA MANAGER
No report.
ITEM 9: REPORT FROM OPWA ATTORNEY
No report.
ITEM 10: UNFINISHED BUSINESS
None.
ITEM 11: NEW BUSINESS
None.
ITEM 12: ADJOURNMENT
Mr Helm moved, seconded by Ms Barnhouse, to adjourn.
AYE: Helm, Barnhouse, Standridge, Ramey, Ewing
NAY: None
Motion carried 5-0 and the meeting was adjourned at 7:30 p.m.
Danny Ew' g, Cha6erson
Marc' Boutwell, Authority Secretary
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