HomeMy WebLinkAbout1988 08_OPWA_Offer for sale public improvement revenue bond series 1988_1988.11.15
PURSUANT TO THE LEGAL NOTICE AS IS REQUIRED BY THE OKLAHOMA OPEN
MEETING ACT INCLUDING THE POSTING OF NOTICE AND AGENDA AS IS
REQUIRED BY THE TERMS THEREOF, THE TRUSTEES OF THE OWASSO PUBLIC
WORKS AUTHORITY, STATE OF OKLAHOMA, MET IN SPECIAL SESSION IN THE
COUNCIL CHAMBERS AT THE CITY HALL IN SAID CITY ON THE 7TH DAY OF
NOVEMBER, 1988, AT 10:00 O'CLOCK A.M.
Von Stockler, Patricia Marlar and Mark Thompson
Lamb,
Stacy P.
PRESENT:
John P. Phillips
Notice of this special meeting having been given in writing to the Clerk of the City of
Owasso, Oklahoma, forty-eight (48) hours prior to such meeting and public notice of
this meeting having been posted in prominent view at the City Hall, 201 South Cedar,
Owasso, Oklahoma, twenty-four (24) hours prior to this meeting, excluding Saturdays,
Sundays and legal holidays, all in compliance with the Oklahoma Open Meeting Act.
ABSENT:
(Other Proceedings)
88-08
It appearing that due and legal notice had been given that said Authority would
offer for sale on this date and at this hour and at this place its $6,100,000 Public
Improvement Revenue Bonds, Series 1988 dated November 1, 1988, maturing on
November 1 of each of the year 1992 through 2002, inclusive, with the final maturity
November 1, 2007, the Trustees proceeded to consider the bids received for the
purpose of said Bonds. The following bids were received and considered by the
governing body:
OPWA RESOLUTION NO
NET
INTEREST COST
INTEREST RATE BID
(AVERAGE)
DISCOUNT
BIDDERS
John Nuveen & Co.,
Incorpora ted
$122,000.00
$6,399,085.00
7.3794%
Stifle, Nicolaus &
Company, Inc.
James Baker & Company
Shearson Lehman
Hutton, Inc.
$118,950.00
$6,918,985.00
7.54236114%
Dean Witter Reynolds,
Inc.
$122,000.00
$122,000.00
$6,586,367.50
5.00
1
$6,604,2
7.5954189%
7.6160%
Blunt Ellis & Loewi, Inc.
Clayton Brown & Associates, Inc
Griffin, Kubik, Stephens
& Thompson, Inc.
The Trustees of the Authority required each bidder to submit with his bid a sum
in cash or its equivalent equal to $ 122-,-000.00 , and after due consideration of
aU bids received by the Authority, a motion was made by
that the bonds be awarded, sold and delivered to Jo
upon fulfillment of the terms set out in said contra<
Bonds. Said motion was seconded by Stockier
the following vote
and Thompson
HarIar
StockIer
Lamb
AYE:
NONE
NAY:
(SEAL)
ATTEST:
2
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Secreij{ry
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)SS
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STATE OF OKLAHOMA
COUNTY OF TULSA
I, the undersigned, the duly qualified and acting Secretary of The Owasso Public
Works Authority, hereby certify that the foregoing is a true and complete copy of
Resolution No. 88-08 adopted by the governing body of a special meeting thereof duly
held on. the date therein set out insofar as the same relates to the introduction,
reading and adoption thereof as the same appears of record in my office.
I further certify that attached hereto are true and complete copies of the notice
given to the City Clerk of Owasso, Oklahoma, at least forty-eight (48) hours prior to
the meeting at which said Resolution was adopted; and of public notice posted at the
City Hall, 207 South Cedar, in said municipality twenty-four (24) hours prior to said
meeting, excluding Saturdays, Sundays and legal holidays.
1988
November,
this 7th day of
3
WITNESS my hand and seal
(SEAL)