HomeMy WebLinkAbout1980 10_Authorize OWPA to borrow money from First Bank Owasso_1980.08.19>
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CITY OF OWASS, OKLAHOMA
RESOLUTION NO. Alt-4c,
A RESOLUTION AUTHORIZING OWASSO PUBLIC WORKS
AUTHORITY TO BORROW MONEY FROM FIRST BANK OF
OWASSO, OWASSO, OKLAHOMA
WHEREAS, Owasso Public Works Authority has deemed it
necessary and advisable to purchase the following described
property from J. Ray Smith and Ola Smith, Husband and Wife,
to-wit-
TRACT A
A tract of land in the SW/4 SW/4 NW/4 NE/4 and the NW/4
NW/4 SW/4 NE/4 of Section 31, T21N, Range 14 East of the
Indian Base and Meridian, Tulsa County, Oklahoma,
according to the Original U. S. Government Survey
thereof, lying west of the AT&SF Railway Company right-
of-way, and South of the original Townsite of Owasso,
Oklahoma, more particularly described as follows, to-wit:
Beginning at the northwest corner of
said SW/4 SW14 NW14 NE/4 (southwest
corner of Lot 35, Original Townsite
Owasso) thence N 39139100" E along the
north boundary of said SW/4 SW/4 NW14 NE/4
(south boundary of Block 35, Original
Townsite Owasso) a distance of 77.77 feet
Co a point in the west right-of-way line
of the AT&SF Railway Company; thence
S 1113125" W a distance of 8 ®0 feet;
thence along the westerly right-of-way line
of AT&SF Railway Company on a curve to the
right having a radius of 3,362.87 feet, a
distance of 641.61 feet to a point in the
west boundary of said NW/4 NW14 SW/4 NE/4;
thence N 0117100" W along the west boundary
of said NW/4 NW/4 SW/4 NE/4 and said SW/4
SW/4 NW14 NE/4 a distance of 635.81 feet to
the point of beginning; containing 31,257
Square feet and 0.71756 acres.
TRACT B
A tract of land in the S/2 SW/4 NW14 NE/4p SW/4 NE14, and
the N/2 Nw14 SE/4 x,1 4E of the Indian Base and Meridian,
Tulsa County, Oklahoma according to the Original U.S.
Government Survey thereof; lying east of the AT&SF Railway
Company right-of-way, and south of the Original Townsite of
^. wasso, Oklahoma, more particularly described as follows,
to-wit:
Beginning at the northeast corner of
said S/2 SW/4 NW14 NE/4 (northwest corner of
Block 1, Iva Del Addition to Owasso); thence
S 0018105" E along the east boundary of said
S/2 SW/4 NW/4 NE/4 (west boundary of Block 1,
Iva Del Addition) a distance of 331.39 feet
to the southeast corner of said S/2 SW/4 NK14
NE/4 (southwest corner Block 1, Iva Del Add-
ition); thence N 89135'40" E along the
north boundary of said SW/4 NE/4 (south
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boundary of Block 1, Iva Del Addition) a
distance of 125.70 feet; thence S 002412011
E a distance of 100.0 feet; thence N 89135140''
E a distance of 217.80 feet; thence N 0124120''
W a distance of 100.0 feet to a point in the
north boundary of said SW/4 NE/4 (south
boundary of Iva Del Addition); thence N 891351
40" E along the north boundary of said SW/4
NE/4 (south boundary Iva Del Addition) a dis-
tance of 276.51 feet to a point 40.0 feet from
the northeast corner of said SW/4 NE/4; thence
S 0119'11" E parallel to and 40.0 feet from
the east boundary of said SW/4 NE/4 a distance
of, 1,011.95 feet; thence S 89140115" W a
distance of 31.0 feet; thence S 0019111" E a
distance of 24.0 feet; thence S 89040115" W a
distance of 499.00 feet; thence S 011911111
E a distance of 418.76 feet to a point in
the northeasterly right-of-way line of
AT&SF Railway Company; thence N 33151156" W
a distance of 0800 feet; thence along the
northeasterly and easterly right-of-way line
of AT&SF Railway Company on a curve to the
left having a radius of 450.30 feet a distance
of 308.78 feet; thence S 16'5014.60 a dis-
tance of 25.00 feet; thence N 73009114" W a
distance of 75.30 feet; thence on a curve
to the right having a radius of 578.80 feet
a distance of 706.81 feet; thence N 1301914511
E a distance of 232.79 feet; thence S 76040li5l'
E a distance of 25.00 feet; thence N 130191458'
E a distance of 1260 feet; (continuing along
the right-of-way line of AT&SF Railway Company)
on a curve to the left having a radius of 3512.87
feet a distance of 746.32 feet to a point
in the North boundary of said S/2 SW/4 NW14 NE/4
(south boundary Original Townsite Owasso)
227-83 feet from the Northwest corner thereof;
thence N 89039'00" E along the north boundary
of said S/2 SW/4 NW14 NE/4 (south boundary
Original Townsite Owasso) a distance of 432.07
feet to the point of beginning; containing
1,480,566 square feet or 33.98911 acres.
TRACT C
A tract of land in he'd NE/4 NW/4 SE/4 and theme NTK/4 !TV7/4
SE/4 of Section 31, T1N, R14E of the Indian ase and
Meridian, Tulsa County, Oklahoma according to the
Original U. S� Government Survey thereof lying west and
south of the AT&SF Railway Company right-of-way, par-
ticularly described as follows, to-wit:
Beginning at the southwest corner of said
NW /4 IITU/4 SE/4; thence N 0117100" W along the
West boundary of said NW/4 NW14 SE/4 a dis-
tance of 53081 feet to a point in the
southerly right-of-way line of AT&SF Railway
Company; thence N 54156'32" E a distance of
0.00 feet; thence along the southerly and
westerly right-of-way line of AT&SF Railway
Company on a curve to the right having radius
of 553.80 feet a distance of 501.68 feet;
thence on a curve to the right having a
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radius o-.I-' 350.30 feet a distance of 445.30
feet; thence S 89040'49" W a distance of
25 ®v feet; -thence S 0119'-11-1" E a distance
of 274.50 feet to a point in the south
boundary of said NIE/4 MK/4 SE/4 thence S
89142132" W along the south boundary of the
N1/21 Mv�,714 SE/4 a distance of 701.27 feet to
the point oil beginning; containing 393,660
square feet or 9.03719 acres®
TRACT D
The SW/4 11:10/4 SE/4 of Section 31, Township 21
North, Range 14 East of the indian Base and
Meridian, Tulsa County, Oklahoma, according
to the Original U. S. Government Survey
thereof, containing 10 Acres, more or less.
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tor the sum of 8153,750.00, and
WHEREAS, in order tto purchase said property, 4t is
necessary to borrow $40,000.00 of said purchase Price, now
THEREFORE, BE IT RESOLVED BY THE OWASSO PUBLIC WORKS
AUTHORITY that the Authority be and the same is hereby
authorized to borrow $40,000.00 fro:,-P. the First Bank of
Owasso, Owasso, Oklahoma, and is authorized to sign a pro-
raissory note in the amiountt of $140,000.00 payable in 36
conse-cut-ive-, ,-,aonthly installments of $1,253.46 .
install-ments include 'interest at- 8% amorltzed.
THIS RESOLUTION VOTED OPON AND ADOPTED in a regular
meeting of the Owasso Public Works Authority this day
oic
1980.
a07ASSO PUBLIC WORKS AUTHORITY
By
-7FP-aitman of thze Board
rustee
Trustee
;, —1; e e
Trustee
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