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Home My WebLink About1988 12_Election for Bond Issue_1988.08.18PRESENT: Stacy Lamb, Patricia Marlar, John Phillips, Mark Thompson ABSENT- Von Stockler Notice of this special meeting having been given in writing to the Clerk of the municipality, forty-eight (48) hours prior to such meeting and public notice of this meeting having been posted in prominent view at the City Hall, 207 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. (Other Proceedings) THEREUPON, the Mayor introduced a Resolutioq�_w4leh_was_r-� f „�� a,,, +,, , G con and upon motion by i . Phi 11 i jQ s , seconded by M. Thompson , said Resolution was adopted by the following vote: AYE- Phillips, Thompson, Marlar, Lamb NAY: Motion Said Resolution was thereupon signed by the Mayor, attested by the Clerk, sealed with the sea] of said municipality, and is as follows: WHEREAS, it is deemed advisable by the City of Owasso, State of Oklahoma (the "City"), to make certain street improvements throughout of the City, improve the storm sewer and drainage system, purchase firefighting equipment, acquire, construct and equip an animal impoundment facility and acquire, construct, renovate and equip certain recreational facilities of the City; and WHEREAS, the Owasso Public Works Authority (the "Authority") intends to issue revenue bonds in a sufficient amount in order to have funds available to finance such improvements set forth herein and to provide for the retirement of certain existing indebtedness of the Authority; and WHEREAS, it is deemed advisable to extend the one percent (1%) sales tax established by Ordinance No. 326, as amended of the City and provide that the proceeds thereof be used to pay principal and interest on the bonds referenced herein and to provide capital improvements under certain circumstances for the City; and WHEREAS, the estimated amounts necessary for such purposes are Three Million One Hundred Thousand Dollars ($3,100,000) for street improvements, Five Hundred Fifteen Thousand Dollars ($515,000) for the storm sewer and drainage system, Thirty- Five Thousand Dollars ($35,000) for firefighting equipment, Fifty Thousand Dollars ($50,000) for the animal impoundment facility and Four Hundred Forty-Three Thousand ($443,000) for recreational facilities; and WHEREAS, power is granted said Authority under Title 60, Oklahoma Statutes, Section 176 et seq., to issue revenue bonds to provide funds for such purposes. NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Owasso, State of Oklahoma: SECTION 1. That the Mayor of said City be, and he is hereby authorized and directed to call a special election to be held in said City on the 4th day of October, N 1988, for the purpose of submitting to the registered qualified voters thereof the following propositions: M F • iii & * ,E Unless Proposition No. 7 providing for an extension of the One Percent Sales (Excise) Tax is approved by a majority of the registered qualified voters, voting at the election for such purpose, the Revenue Bonds provided in the above Proposition Nos 5 WILL NOT ICE ISSUED. 6 Unless Proposition No. 7 providing for an extension of the One Percent Sales (Excise) Tax is approved by a majority of the registered qualified voters, voting at the election for such purpose, the Revenue Bonds provided in the above Proposition No® 6 WILL NOT BE ISSUED. N�� • mm� - W /X SECTION 2. The specific project for which all of the proceeds of the aforesaid $i-,'4t%tt-6--revenue bonds to be issued for street improvements shall be expended and the dollar amount of proceeds to be spent on such project shall be as follows: 86th Street Improvements. $2,700,000 SECTION 3. That the specific project for which all of the proceeds of the aforesaid $400,000 revenue bonds to be issued for street improvements shall be expended and the dollar amount of proceeds to be spent on such project shall be as follows: (a) 3-year Residential Street Overlay. $150,000 (b) 76th Street Improvements. $150,004 (c) Main Street Renovation. $100,000 SECTION 4. The specific project for which all of the proceeds of the aforesaid $515,000 revenue bonds to be issued for storm sewer and drainage system improvements shall be expended and the dollar amount of such project shall be as follows: (a) North Owasso Drainage Study. $15,000 (b) Original Town Drainage Projects. $500,000 SECTION 5. The specific project for which all of the proceeds of the aforesaid $35,000 revenue bonds to be issued for firefighting equipment shall be expended and the dollar amount of such project shall be as follows: Purchase a radio/communication system for the City of Owasso Fire Department. SECTION 6. The specific project for which all of the proceeds of the aforesaid $50,000 revenue bonds to be issued for the construction of an animal impoundment facility shall be expended and the dollar amount of such project shall be as follows: Acquisition, construction and equipping of an animal impoundment facility. SECTION 7. That the specific project for which all of the proceeds of the $443,000 revenue bonds to be issued for the acquisition, construction and renovation of various recreational facilities shall be expended and the dollar amount of such project shall be as follows: 9 I %a) Recreation Center renovation. $33,00It �M llws ��M (c) Acquire, construct and equip a Baseball/Soccer Complex. $120,000 (d) Replace the lighting system at the Rodeo Grounds. $20,000 $443,000 SECTION 8. That such call for said election shall be by proclamation, signed by the Mayor and attested by the City Clerk, setting forth the propositions to be voted upon and the hours of opening and closing of the polls. That the ballots shall set forth the propositions to be voted upon substantially as set out in Section 1 hereof, and that the returns of said election shall be made to and canvassed by the Tulsa County Election Board. SECTION 9. That by reason of said City being in need of certain street improvements and without adequate storm sewer and drainage systems, firefighting equipment, animal impoundment facilities and recreational facilities it is deemed and hereby declared necessary for the preservation of the public health, peace and safety that this resolution shall become operative immediately; wherefore, an emergency is hereby declared to exist and this Resolution No. 88-12 shall be in full force and effect immediately from and after its passage and approval. 1 953 Me] 1111 ", I, Mayor "READ ATTEST® C iJf Clerk STATE OF OKLAHOMA ) )SS COUNTY OF TULSA 1, the undersigned, the duly qualified and acting Clerk of the City of Owasso, Oklahoma, hereby certify that the foregoing is a true and complete copy of Resolution No. 88-12 authorizing the calling and holding of an election for the purpose therein set out 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. WITNESS my hand and seal this 18th day of August, 1988. (SF.4,,I,) Ci Clerk M