HomeMy WebLinkAbout1997.12.22_OPWA Agenda_SpecialPUBLIC NOTICE OF THE MEETING OF THE
OWASSO PUBLIC WORKS AUTHORITY
TYPE OF MEETING: Special
DATE: December 22, 1997
TIME: 7:30 a.m.
PLACE: Owasso City Hall
Lower Level Conference Room
Notice and Agenda filed in the office of the City Clerk and posted on the City Hall bulletin
board at 4:30 p.m. on Wednesday, December 17, 1997.
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Marcia Voutwell, Authority Secretary
AGENDA
1. Call to Order & Roll Call
2. Consideration and Appropriate Action Relating to Resolution #97 -04, a Resolution of the
Trustees of the Owasso Public Works Authority (The "Authority ") Authorizing the
Issuance of Its Revenue Refunding Bonds, Series 1997 (The "Bonds") for the Purpose
of Advance Refunding the Authority's Public Improvement Revenue Bonds, Series 1988,
and Paying Certain Legal and Financing Costs; Waiving Competitive Bidding and
Authorizing the Bonds to be Sold on a Negotiated Basis and at a Discount; Approving
a Contract of Purchase with Respect to the Sale of the Bonds and Authorizing and
Directing Execution Thereof by the Chairperson or Vice Chairperson of the Authority;
Ratifying and Confirming a Lease, as Heretofore Amended (The "Lease "), By and
Between the City of Owasso (The "City ") and the Authority, Whereby the City Leases
its Water, Sanitary Sewer, Garbage and Trash Collection Systems and the Bailey Ranch
Golf Club to the Authority; Approving and Authorizing the Execution of a General Bond
Indenture Dated as of December 1, 1997 (Which General Bond Indenture Replaces and
Supersedes in all Respects the Bond Indenture Dates as of November 1, 1988), as
Heretofore Supplemented, and a Series 1997 Supplemental Bond Indenture (Collectively,
With Other Amendments Referred to Herein as the "Indenture ") Authorizing the Issuance
and Securing the Payment of the Bonds; Approving and Authorizing Execution of a
Security Agreement Pertaining to a Year -to -Year Pledge of Certain Sales Tax Revenue;
Approving the Official Statement Pertaining to Said Bonds and Authorizing Distribution
of the Same and Authorizing the Chairperson or Vice Chairperson of the Authority to
Approve any Corrections to Said Official Statement; Providing that the Declaration of
Owasso Public Works Authority
December 22, 1997
Page 2
Trust Creating the Authority is Subject to the Provisions of Said Indenture; Authorizing
and Directing the Execution of Bonds and Other Documents Relating to the Transaction
Including, But Not by Way of Limitation, Documentation Necessary to Secure Bond
Insurance, a Refunding Escrow Agreement, and a Continuing Disclosure Certificate;
Establishing the Authority's Expectations with Respect to Issuance of Tax- Exempt Bonds
in Calendar Year 1997, and Designating the Bonds as "Bank Qualified "; and Containing
Other Provisions Relating Thereto.
Mr Allan Brooks
Mr Brooks will present Resolution #97 -04, and the staff will recommend adoption of the
resolution.
3. Consideration and Appropriate Action Relating to a Request for a Supplemental
Appropriation to the OPWA Sales Tax Fund Budget, and Authorization for the
Expenditure of $900,000 for the Purpose of Debt Service.
Ms Bishop
The Staff will recommend an amendment to the OPWA Sales Tax Fund budget wherein
the Transfer from the Capital Improvements Fund is increased by $500,000 and the
Expenditure for Debt Service is increased by $900,000. (The remaining $400,000 is
available in existing Fund Balance.)
4. Adjournment