HomeMy WebLinkAbout2004.05.10_OPWA Minutes_SpecialOWASSO PUBLIC WORKS AUTHORITY
MINUTES OF SPECIAL MEETING
Monday, May 10, 2004
The Owasso Public Works Authority met in a special meeting on Monday, May 10, 2004 in the
Lower Level Conference Room at Owasso City Hall, I I I N. Main Street, per the Notice of
Public Meeting and Agenda posted on the City Hall bulletin board at 4:00 PM on Friday, May 7,
2004.
ITEM 1: CALL TO ORDER.
Chairman Kimball called the meeting to order at 5:45 PM.
PRESENT ABSENT
Susan Kimball, Chairman Gary Cochran, Trustee
Craig Thoendel, Vice Chairman
Steve Cataudella, Trustee
Brent Colgan, Trustee
A quorum was declared present.
ITEM 2: CONSIDERATION AND APPROPRIATE ACTION RELATING TO A REQUEST
FOR TRUSTEE APPROVAL OF RESOLUTION NO. 2004-05 A RESOLUTION
AUTHORIZING A LOAN FROM THE OKLAHOMA WATER RESOURCES
BOARD IN THE TOTAL AGGREGATE AMOUNT OF $2 350 000• APPROVING
THE ISSUANCE OF A PROMISSORY NOTE IN THE TOTAL AGGREGATE
PRINCIPAL AMOUNT OF $2 350 000 SECURED BY A PLEDGE OF
REVENUES AND AUTHORIZING ITS EXECUTION• DESIGNATING THE
LOCAL TRUSTEE• APPROVING AND AUTHORIZING THE EXECUTION OF A
LOAN AGREEMENT• APPROVING AND AUTHORIZING THE EXECUTION
OF A SERIES 2004 SUPPLEMENTAL NOPTE INDENTURE• RATIFYING A
LEASE AS AMENDED BY AN AMENDMENT TO LEASE• APPROVING
VARIOUS COVENANTS• APPROVING AND AUTHORIZING PAYMENT OF
FEES AND EXPENSES, ESTABLISHING THE AUTHORITY'S REASONABLE
EXPECTATIONS WITH RESPECT TO THE ISSUANCE OF TAX-EXEMPT
OBLIGATIONS IN 2004• AUTHORIZING DOCUMENTS PERTAINING TO A
YEAR-TO-YEAR PLEDGE OF CERTAIN SALES TAX REVENUE AND
CONTAINING OTHER PROVISIONS RELATING THERETO.
Ms. Bishop explained the need for Resolution No. 2004-05 and the savings on interest payments
that would result. Vice Chairman Thoendel moved to adopt Resolution No. 2004-05 as
presented.. The motion was seconded by Trustee Cataudella. The motion carried 4-0.
Owasso Public Works Authority
ITEM 3: ADJOURNMENT
May 10, 2004
Trustee Cataudella moved to adjourn the meeting, seconded by Vice Chairman Thoendel. The
motion carried and the meeting was adjourned at 6:00 PM.
,.
Susan Kimball, Chai nan
0