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Home My WebLink About2018 10_RMUA Beneficial Interest AmendmentOWASSO CITY COUNCIL RESOLUTION 2018 -10 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF OWASSO, OKLAHOMA, ACCEPTING THE THIRD AMENDMENT TO THE DECLARATION OF TRUST OF THE REGIONAL MUNICIPAL UTILITY AUTHORITY AND AUTHORIZING THE MAYOR TO EXECUTE THE ACCEPTANCE OF BENEFICIAL INTEREST. WHEREAS: A Declaration of Trust creating the Regional Municipal Utility Authority was originally adopted on November 7, 1972, and thereafter amended on June 12, 1974, and October 12, 1988. The City of Owasso is a beneficiary of the Trust; WHEREAS: A Third Amendment to the Declaration of Trust was adopted by the Regional Municipal Utility Authority on April 25, 2018, and all beneficiaries to the Trust are now required to accept the beneficial interest in the Trust by executing an Acceptance of Beneficial Interest; THE CITY COUNCIL HEREBY ADOPTS THE FOLLOWING RESOLUTION: NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OWASSO, OKLAHOMA, THAT: The City of Owasso adopts the Third Amendment to the Declaration of Trust of the Regional Metropolitan Utility Authority, and authorizes the Mayor to execute the Acceptance of Beneficial Interest. 17 APPROVED AND ADOPTED this 21 st day of August, 2018, by the C' y ou ��cil o e ' �y of Owasso, Oklahoma. ``o�e�tJrerJe� G\.tiR K CyT/ - ° °O° jP ��•• O ° Dr. Chri Ke y, ay A . •': �, EST: Juli nn M. Stevens, City Clerk e °e .•'00° �H�i'✓1,4 ••• ,�'•`�\e '�J,leF514.. APPR E AS TO FORM: Julie It bardi, City Attorney ACCEPTANCE OF BENEFICIAL INTEREST KNOW ALL MEN BY THESE PRESENTS: THAT THE CITY OF OWASSO, OKLAHOMA, a municipal corporation, acting by and through the general governing body of said municipality, hereby accepts the beneficial interest in the Trust created by the within and foregoing Declaration of Trust of the Regional Metropolitan Utility Authority dated November 7, 1972 and amended on June 12, 1974 and October 12, 1988, and most recently amended by the Third Amendment to Declaration of Trust adopted by RMUA on April 25, 2018, and for and in behalf of the said municipality, in all respects in accordance with the terms of said Declaration of Trust, and the Third Amendment to Declaration of Trust adopted by RMUA on April 25, 2018. IN WITNESS WHEREOF, pursuant to the authority and direction of the Mayor of the City of Owasso, Oklahoma, pursuant to the authority and direction of Resolution No.2018 -10 of Said City, effective this date, hereunto has set his hand and cause be affixed the requisite official seal, this 21" day of August, 2018. ATTEST: 4 OF Fill/ °�'e, Dr. ity lf : Owasso, Oklahoma G�( o ..., % Stevens, Cit Clerk �'y .............. �p�� OKL.,. '" THIRD AMENDMENT TO DECLARATION OF TRUST OF THE REGIONAL METROPOLITAN UTILITY AUTHORITY KNOW ALL MEN BY THESE PRESENTS: THAT on the 25th day of April, 2018, at a Special Meeting of the Regional Metropolitan Utility Authority (the "Authority "), with all Trustees present Except Dr. Josh Wedman Jenks Oklahoma Mavor, Jarred Cottle, Bixby, Oklahoma City Manager and John Easton Bixby Oklahoma Mayor. It duly resolved that the original Declaration of Trust of Regional Metropolitan Utility Authority, as twice amended by Amendment of Declaration of Trust of the Regional Metropolitan Utility Authority dated June 12, 1974, and Amendment of Declaration of Trust of the Regional Metropolitan Utility Authority dated October 12, 1988, be amended to provide that the Chairman of the Tulsa Metropolitan Utility Authority shall serve ex officio as a Trustee, to provide that the Mayor of the City of Tulsa shall appoint a Trustee rather than it being ex officio the Commissioner of Waterworks and Sewerage of the City of Tulsa, and to provide for appointment of Trustees by the City Managers of the Cities of Broken Arrow, Bixby, Jenks, and Owasso rather than appointment by the City Councils of the Cities of Broken Arrow, Bixby, Jenks and Owasso which also required each Trustee to be a member of the appointing City's utility authority, and to provide for all current beneficiaries. The Resolution having been unanimously carried by all Trustees present, the Declaration of Trust of Regional Metropolitan Utility Authority, as amended, is hereby amended as follows: THIRD AMENDMENT Article VI, Section (b) of the Declaration of Trust of Regional Metropolitan Utility Authority, as amended, is hereby amended to read as follows: The Trustees shall be a minimum of ten (10) in number. The Trustees of the Authority shall be ex•of /icio, the chair of the Tulsa Metropolitan Utility Authority; ex- officio the City Managers of the Cities of Broken Arrow, Bixby, Jenks and Owasso; one Trustee shall be appointed by the Mayor of the City of Tulsa; and one Trustee shall be appointed by each of the City Managers of the Cities of Broken Arrow, Bixby, Jenks and Owasso. Alternatively, the City Managers of the Cities of Broken Arrow, Bixby, Jenks and Owasso may elect to appoint two Trustees, rather than serve ex- officio, of the Cities of Broken Arrow, Bixby, Jenks and Owasso. Article VIII, Section (a) of the Declaration of Trust of Regional Metropolitan Utility Authority, as amended, is hereby amended to read as follows: The term "Beneficiaries" as used in this instrument collectively and severally shall denote the corporate government entities for which the Authority shall be furnishing and providing, or proposes to furnish and provide the services and facilities described in Section III of this instrument, or any part thereof, and which shall have accepted beneficial interest under this instrument, as amended, and as provided by law, and including the incorporated cities of Tulsa, Broken Arrow, Jenks, Bixby, and Owasso. This Thirst. Amendment shall become effective after a Resolution accepting the beneficial interest by the Cities of Tulsa, Broken Arrow, Jenks, Bixby, and Owasso is duly passed by their respective governing bodies. IN WITNESS WIIEREOR, we have hereunto set our hands, executing this Third Amendment to Declaration of Trust of The Regional Metropolitan Utility Authority in multiple duplicates all of which constitute one and the sattie instrunnent on this 25th day of April, 2018. Aq- Broken Arrow Cit Manager '5mven jlrrow it ity Vard BO I ity i- ow, so C; Mana er T A Appoinhnent ATTEST: (Seal) Secretary APPROVED AS TO FORM: PAULA QUILLI , ATTORNEY FOR MOM ixby Ut lity Utility Board :t of Waterworks and Sewerage — position no longer exists s� 0njE4LMP..p1.-RLC actor -REgL Community TO: The Honorable Mayor and City Council FROM: Julie Trout Lombardi City Attorney SUBJECT: Resolution 2018 -10 Beneficial Interest Amendment to the Regional Municipal Utility Authority (RMUA) Trust Indenture DATE: August 17, 2018 BACKGROUND: On April 25, 2018, a Third Amendment to the Declaration of Trust of the Regional Metropolitan Utility Authority was approved by the RMUA. The amendment changed the requirement that each city's mayor and city manager attend meetings as representatives of the city. Now, the city manager, or his or her designees, shall serve as the representatives of each city. Each of the beneficiary cities to the RMUA is now required to accept this amendment through approval of a resolution and execution of the Acceptance of Beneficial Interest. RECOMMENDATION: Staff recommends that the City Council approve Resolution 2018 -10 accepting the amendment and authorizing the Mayor to execute the Acceptance of Beneficial Interest. ATTACHMENTS: Resolution 2018 -10 Third Amendment to Declaration of Trust of the Regional Metropolitan Utility Authority Acceptance of Beneficial Interest