HomeMy WebLinkAbout2002.11.18_OPWA Minutes_SpecialOWASSO PUBLIC WORKS AUTHORITY
MINUTES OF SPECIAL MEETING
Monday, November 18, 2002
The Owasso Public Works Authority met in a special meeting on Monday, November 18, 2002
in the Main Conference Room at Owasso City Hall per the Notice of Public Meeting and Agenda
posted on the City Hall bulletin board at 4:00 p.m. on Friday, November 15, 2002. The meeting
was called by the Mayor at 9:00 a.m. on Monday, November 11, 2002.
ITEM 1: CALL TO ORDER & ROLL CALL.
Chairman Brogdon called the meeting to order at 5:11 p.m.
PRESENT
Randy Brogdon, Chair
Michael Helm, Vice Chair
Susan Kimball, Trustee
Gary Cochran, Trustee
STAFF
Rodney J Ray, City Manager
Marcia Boutwell, City Clerk
A quorum was declared present.
ABSENT
Rebecca Armstrong, Trustee
ITEM 2: CONSIDERATION AND APPROPRIATE ACTION RELATING TO OPWA
RESOLUTION #2002-06, A RESOLUTION OF THE OWASSO PUBLIC WORKS
AUTHORITY AUTHORIZING TWO (2) LOANS FROM THE OKLAHOMA
WATER RESOURCES BOARD IN THE COMBINED TOTAL AGGREGATE
PRINCIPAL AMOUNT OF NOT TO EXCEED $2,604,236 APPROVING THE
ISSUANCE OF TWO (2) PROMISSORY NOTES IN THE COMBINED TOTAL
AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED $2,604,236,
SECURED BY A PLEDGE OF REVENUES AND AUTHORIZING THEIR
EXECUTION; DESIGNATING THE LOCAL TRUSTEE; APPROVING AND
AUTHORIZING THE EXECUTION OF TWO (2) LOAN AGREEMENTS;
APPROVING AND AUTHORIZING THE EXECUTION OF A SERIES 2002B
SUPPLEMENTAL NOTE INDENTURE; APPROVING AND AUTHORIZING
THE EXECUTION OF A SECURITY AGREEMENT; 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 CALENDAR YEAR 2002; AUTHORIZING DOCUMENTS
PERTAINING TO A__ YEAR-TO-YEAR PLEDGE OF CERTAIN SALES TAX
REVENUE; AND CONTAINING OTHER PROVISIONS RELATING THERETO.
Mr. Ray said that the improvements to the wastewater treatment plant have been financed
through the Oklahoma Water Resources Board. Interim construction financing was approved by
the OPWA Trustees in October 2001, and an application was made to OWRB for permanent
Owasso Public Works Authority November 18, 2002
financing in October 2002. The construction has now been completed and it is necessary to
replace the construction loan with permanent financing. OPWA Resolution #2002-06 approves
the permanent financing and authorizes the loan. It approves the issuance of two promissory
notes, approves and authorizes payment of fees and expenses, and approves and authorizes
various other documents and actions necessary to complete the financing. Ms. Kimball moved,
seconded by Mr. Cochran, to approve Resolution #2002-o6, authorizing a loan from the OWRB.
AYE: Kimball, Cochran, Helm, Brogdon
Nay: None
Motion carried 4-0.
ITEM 3: ADJOURNMENT.
Mr. Cochran moved, seconded by Mr. Helm, to adjourn. Motion carried 4-0, and the meeting
was adjourned at 5:16 p.m.
Micha 'Helm, Mayor
V)A JA' t
Marci Boutwell, City ,lerk
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