HomeMy WebLinkAbout2007 06_OPWA_Engineering Services_Wastewater Treatment Plat_2007.07.03THE OWASSO PUBLIC WORKS AUTHORITY
RESOLUTION NO. 2007-06
A RESOLUTION DECLARING THE INTENT OF THE OWASSO PUBLIC
WORKS AUTHORITY (THE "AUTHORITY") TO EXPEND CERTAIN
FUNDS IN CONNECTION WITH WASTEWATER SYSTEM
IMPROVEMENTS, WITH SAID EXPENDITURES TO BE REIMBURSED
FROM THE PROCEEDS OF DEBT TO BE INCURRED BY THE
AUTHORITY; AND CONTAINING OTHER PROVISIONS RELATING
THERETO.
WHEREAS, the Authority is considering the design and construction of certain wastewater
improvements as more specifically set out below (collectively, the "Project"); and
WHEREAS, it is the Authority's intent to eventually fund the cost of the Project through the
issuance of debt obligations; and
WHEREAS, the Authority desires to initially fund certain costs pertaining to the Project out
of the Authority's cash reserves; and
WHEREAS, the Authority further desires to declare its official intent to reimburse itself
with the proceeds of debt incurred by the Authority, as required by Section 1.103-18 of the Treasury
Regulations promulgated pursuant to Sections 103 and 141-150 of the Internal Revenue Code of
1986, as amended.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE
OWASSO PUBLIC WORKS AUTHORITY:
Section 1. Pr~ect Description. The Project to be designed and constricted by the
Authority shall generally include improvements necessary to upgrade the wastewater collection
and treatment system, including engineering services for design of capacity increase and/or
improvements to the Wastewater Treatment Plant and improvements to the North 117~h East
Avenue Pump Station, and other related engineering design and construction.
Section 2. Cost of Project. The Authority intends initially to fund certain costs of the
Project from the Authority's funds. The Authority reasonably expects to reimburse any amounts
expended with the proceeds of debt to be incurred by the Authority. The Authority anticipates
issuing debt for the Project in one or more series in an aggregate amount not to exceed
approximately $7,500,000.
Section 3. Declaration of Official Intent. This Resolution constitutes a declaration of
official intent as is required pursuant to Section 1.103-18 of the Treasury Regulations promulgated
pursuant to Sections 103 and 141-150 of the Internal Revenue Code of 1986, as amended.
ADOPTED THIS 3~ DAY OF JULY, 2007.
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THE OWASSO PUBLIC WORKS AUTHORITY
Stephen Cata della, Chairman
Sherry Bish ,Secretary
APPROVED AS TO FORM:
Juli ombardi, Authority Attorney
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CERTIFICATE OF
AUTHORITY ACTION
I, the undersigned, hereby certify that I am the duly qualified and Secretary of The Owasso
Public Works Authority.
I further certify that the Board of Trustees of The Owasso Public Works Authority held a
Regular Meeting at 6:30 o'clock p.m. on July 3, 2007, after due notice was given in full compliance
with the Oklahoma Open Meeting Act.
I further certify that attached hereto is a full and complete copy of a Resolution that was
passed and approved by said Board of Trustees at said meeting as same appears in the official
records of my office and that said Resolution is currently in effect and has not been repealed or
amended as of this date.
I further certify that below is listed those board members present and absent at said meeting;
those making and seconding the motion that said Resolution be passed and approved; and those
voting for and against such motion:
PRESENT:
ABSENT:
MOTION MADE BY:
MOTION SECONDED BY:
AYE:
NAY:
WITNESS MY HAND THIS 3RD DAY OF JULY, 2007.
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THE OWASSO PUBLIC WORKS AUTHORITY
Sherry Bi p, Secretary
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