HomeMy WebLinkAbout1998.08.04_OPWA MinutesOWASSO PUBLIC WORKS AUTHORITY
MINUTES OF REGULAR MEETING
Tuesday, August 4, 1998
The Owasso Public Works Authority met in regular session on Tuesday, August 4, 1998 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, July 31, 1998.
ITEM 1: CALL TO ORDER
Chairman Bode called the meeting to order at 7:15 p.m.
ITEM 2: FLAG SALUTE
The flag salute was given during the City Council meeting preceding this meeting.
ITEM 3: ROLL CALL
PRESENT
Denise Bode, Chair
Mark Wilken, Vice Chair
Mary Lou Barnhouse Trustee
Melinda Voss, Trustee
STAFF
Jeff Hancock, City Manager
Ronald D Cates, Authority Attorney
Marcia Boutwell, Authority Secretary
ABSENT
Tracy Standridge, Trustee
ITEM 4: CONSIDERATION AND APPROPRIATE ACTION RELATING TO A
REQUEST FOR APPROVAL OF THE CONSENT AGENDA.
A. Approval of the Minutes of July 21, 1998 Regular Meeting.
B. Approval of Claims
Ms Voss moved, seconded by Ms Barnhouse, to approve the consent agenda. The consent
agenda included minutes of the July 21, 1998 regular meeting, by reference made a part hereto.
Item B on the consent agenda included the following claims: (1) OPWA Fund $21,027.24;
(2) OPWA Capital Improvement Fund $133,897.76; (3) OPWA Sales Tax Fund $125,793.13;
(4) Payroll $28,755.44.
AYE: Voss, Barnhouse, Wilken, Bode
NAY: None
Motion carried 4-0.
Owasso Public Works Authority
August 4, 1998
ITEM 5: CONSIDERATION AND APPROPRIATE ACTION RELATING TO
RESOLUTION #98-06 A RESOLUTION AUTHORIZING THE ISSUANCE
EXECUTION AND DELIVERY OF THE OWASSO PUBLIC WORKS
AUTHORITY REVENUE ANTICIPATION NOTE IN AN AMOUNT NOT TO
EXCEED $1,800,000, AND APPROVING THE LOAN AGREEMENT WITH
THE CITY OF OWASSO AND OTHER DOCUMENTS AS MAY BE
REQUIRED.
Ms Bishop presented the item for temporary financing for the Elm Creek Sewer Interceptor
project. The proposed Revenue Anticipation Note is structured similar to a construction loan.
The OPWA will draw funds as needed and interest will accrue on the balance. This RAN
provides funding so that the easements may be approved and Notice to Proceed be issued.
OPWA Resolution #98-06 authorizes the issuance, execution and delivery of the Revenue
Anticipation Note to the City in an amount not to exceed $1, 800, 000. It also approves the RAN
and loan agreement between the City and the OPWA. The RAN bears an interest rate of 5.2 %,
with a maturity date of August 4, 1999. Ms Voss moved, seconded by Ms Barnhouse, to
approve OPWA Resolution #98-06 authorizing the issuance, execution and delivery of a Revenue
Anticipation Note and approving the Loan Agreement and Revenue Anticipation Note.
AYE: Voss, Barnhouse, Wilken, Bode
NAY: None
Motion carried 4-0.
No report.
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None.
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Owasso Public Works Authority August 4, 1998
ITEM 9: ADJOURNMENT
Mr Wilken moved, seconded by Ms Barnhouse, to adjourn.
AYE: Wilken, Barnhouse, Voss, Bode
NAY: None
Motion carried 4-0, and the meeting was adjourned at 7:16 p.m.
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Denise Bode, Chairperson
Marcia Boutwell, Author ty Secretary
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