HomeMy WebLinkAbout2004.10.19_OEDA Minutes,~-~ OWASSO ECONOMIC DEVELOPMENT AUTHORITY
MINUTES OF REGULAR MEETING
Thursday, October 19, 2004
The Owasso Economic Development Authority reconvened the regular session on Tuesday,
October 19, 2004 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 Monday, October 11,
2004.
ITEM 1: CALL TO ORDER & ROLL CALL
Chairman Scott Yandell called the meeting to order at 2:20pm.
PRESENT
Scott Yandell, Chair
Brenda Lawrence,Trustee
Tom Kimball, Trustee
Dee Sokolosky, Secretary
Steve Cataduella,Trustee
Gary Akin, Trustee
Frank Enzbrenner, Vice-Chair
OTHERS
Randy Cowling
Jim East
STAFF
Rodney Ray, City Manager
Ron Cates, General Counsel
Juliann Stevens, Administrative Assistant
A quorum was declared present.
ITEM 9: CONSIDERATION AND APPROPRIATE ACTION RELATED TO A REQUEST
FOR TRUSTEE APPROVAL OF A LOAN AGREEMENT AND REVENUE
ANTICIPATION NOTE BETWEEN THE OWASSO ECONOMIC
DEVELOPMENT AUTHORITY AND THE CITY OF OWASSO, AND
AUTHORIZATION OF RESOLUTION NO. 2004-01
The regular meeting of October 14, 2004 continued with discussions among members
regarding the loan agreement and concerns of approving the agreement without first
obtaining credit enhancement insurance. Mr. Ray informed members that
conversations continue between the City staff and credit agencies. Also discussed,
was the addition of language to the loan agreement stating a "due on sale" clause.
Mr. Enzbrenner made a motion to table the item until such credit enhancement
insurance can be obtained. Mr. Cataudella seconded the motion.
AYE: Enzbrenner, Cataudella, Yandell, Kimball, Sokolosky, Lawrence, Akin
NAY: none
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Owasso Economic Development Authority
October 19, 2004
ITEM 10. CONSIDERATION AND APPROPRIATE ACTION RELATED TO A REQUEST
FOR TRUSTEE APPROVAL OF A LOAN AGREEMENT BETWEEN THE
OWASSO ECONOMIC DEVELOPMENT AUTHORITY AND VANGUARD CAR
RENTAL. USA AND AUTHORIZATION OF RESOLUTION 2004-02.
Item 10 discuss was combined with Item 9. Mr. Enzbrenner made a motion to table
the item until such credit enhancement insurance can be obtained. Mr. Cataudella
seconded the motion.
AYE: Enzbrenner, Cataudella, Yandell, Kimball, Sokolosky, Lawrence, Akin
NAY: none
ITEM 11. NEW BUSINESS
None
ITEM 12. ADJOURNMENT
Motion made by Tom Kimball, seconded by Brenda Lawrence to adjourn.
At 2:40pm, the meeting was adjourned.
Date Approved
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Scott Y nde ,Chair
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