HomeMy WebLinkAbout2010 01_OPWA_OWRB Variable Rate_1993_2010.03.16OWASO PUBLIC WORKS AUTHORITY
RESOLUTION NO. 2010 -01
A RESOLUTION AGREEING TO FILE APPLICATION WITH THE
OKLAHOMA WATER RESOURCES BOARD (THE "OWRB ") FOR
FINANCIAL ASSISTANCE THROUGH THE STATE LOAN PROGRAM,
WITH THE LOAN PROCEEDS BEING FOR THE PURPOSE OF
REFINANCING CERTAIN INDEBTEDNESS OF THE OWASSO PUBLIC
WORKS AUTHORITY, TULSA COUNTY, OKLAHOMA; APPROVING A
PROFESSIONAL SERVICES AGREEMENT; AND CONTAINING OTHER
PROVISIONS RELATED THERETO.
WHEREAS, The Owasso Public Works Authority, Tulsa County, Oklahoma (the
"Authority ") has under consideration the refinancing of its Series 1993B Promissory Note to
Oklahoma Water Resources Board dated April 1, 1993, in the original principal amount of
$970,000 (the "1993B Note ") for the purpose of converting from a variable rate of interest to a
fixed rate of interest (the "Refinancing "); and
WHEREAS, it is deemed desirable for the Authority to give preliminary authorization for
the issuance of obligations for such purpose; and
WHEREAS, the Oklahoma Water Resources Board has made monies available to qualified
entities for the financing of certain qualifying projects; and
WHEREAS, the Authority hereby agrees to file an application(s) with the Oklahoma Water
Resources Board for financial assistance in the aggregate amount as will be sufficient to pay certain
costs associated with the referenced Refinancing.
BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE OWASSO PUBLIC
WORKS AUTHORITY, TULSA COUNTY, OKLAHOMA:
Section 1. Application. The Authority shall file an Application(s) with the Oklahoma
Water Resources Board seeking financial assistance through the State Loan Program; and the
Chairman or Vice Chairman and Secretary or Assistant Secretary of the Authority are hereby
authorized to execute said Application(s) for and on behalf of the Authority. The Authority is
further authorized to advance to the Oklahoma Water Resources Board the necessary application
fees in connection with the referenced Application(s), if any.
Section 2. Professional Services Agreement. The Authority is authorized to enter into a
legal services agreement with The Public Finance Law Group PLLC, as the Authority's Bond
Counsel.
Section 3. Other Matters. The Chairman or Vice Chairman and Secretary or Assistant
Secretary of the Authority are hereby authorized and directed to do all other lawful things necessary
to carry out the terms and conditions of this Resolution.
0+ ++j111jjfj PASSED AND APPROVED THIS 16'" DAY OF MARCH, 2010.
Q
(SEAIp O �� By
CO t SEA Stephe ataudella, Chairman
man
z : O ..
'.0%
�•'••. « «•••'�
''' /f�S!
By
Sherry Bis p, Secretary
2