HomeMy WebLinkAbout553_Amend Ord 326 & Ord 395_Sales TaxTULSA COUNY CLERK - JOAN HASTINGS RCPT 260878 01/12/98 11:30:36
DOC # 98002669 FEE 0.00 PGS 5 B/P 5998/1105-1109
ORDINANCE NO. 553
AN ORDINANCE AMENDING ORDINANCE NO. 326 DATED APRIL 19,
1983, AS AMENDED BY AMENDED ORDINANCE NO. 326 DATED mAY
5, 1983, AS FURTHER AMNENDED BY ORDINANCE NO. 395 DATED
AUGUST 18, 1988; AMENDING THE PURPOSE OF THE ONE PERCENT
(1%) SALES TAX LEVIED BY ORDINANCE NO. 326, AS PREVIOUSLY
AMENDED; ESTABBLISHING EFFECTIVE DATE OF THIS ORDINANCE;
AND CONTAINING OTHER PROVISIONS RELATED THERETO.
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF OWASSO, OKLAHOMA;
Section 1. Amendment of Prior Ordinance. That Ordinance no.
326 of the City of Owasso, Oklahoma (the "City") dated April 19,
1983, as heretofore amended by Amended Ordinance No. 326 of the
City dated August 18, 1988 (collectively, the "Prior
Ordinance") is hereby amended by deleting Section 4 of the Prior
Ordinance pertaining to the purpose of the Ordiannce and said
Section 4 is replaced in its entirety with the following:
"Section 4. Purpose. It is hereby declared to be
the purpose of this Ordinance to provide revenues to
finance or fund capital projects and related costs only;
said projects to be reviewed byby the Capital Improvements
Committee, approved by the City Council, with oversight
given by the Citizens' Watchdog Committee establised by
the City Council, and sunject to competitive bidding as
required by law. Specifically, the revenues shall be
used (i) to pay the principal and interest requirements
on the Owasso Public Works Authority's Public Improvement
Revenue Bonds, Series 1988 issued in the original
principal amount of $6,100,000 and/or the Authority's
Public Improvement Revenu Bonds to be issued in the
original principal amount of not to exceed $8,500,000, or
any indebtedness issued to refund said bond issued, (ii)
after paying debt service on the referenced bond issues,
for making deposits in an amount equal to fiften percent
(15%) of the proceeds of said one percent (1%) sales tax
to the Capital Future Fund of the City for the purposes
of funding future capital improvement projects of the
City as authorized by the voters of said City in an
election called for that purpose, provided that the
amounts in the Capital Future Fund accumulated to date,
plus those amounts to be accumulated through June 30,
2001, shall be immediatley availabe to fund those
projects listed on Exhibit "A" hereto, and (iii) to
finance or fund other capital projects reviewed by the
Capital Improvements Committee, approved by the City
Council, with oversight given by the Citizens' Watchdog
Committee established by the City Council. Any
additional indebtedness, except as referenced above,
incurred by the City and/or the Authority utilizing the
proceeds of said one percent (1%) sales tax must be
approved by a majority of the registered, qualified
voters of the City, voting at periodic elections for such
purposes. Because the project costs and the sources of
revenue referenced on Exhibit "All involve estimates and
projections, the City Council based upon a recommendation
from the Capital Improvements Committee is authorized to
add to those capital projects listed or to delete and/or
modify individual projects based upon actual project
costs and revenue receipts."
Section 2. Effective Date. The provisions of this ordinance
No. 553 shall be effective on October 14, 1997 subject to approval
CN by a majority of the registered voters of the City voting on the
same in the manner prescribed by law.
Section 3. Provisions of Prior Ordinance Unaffected. Except
as amended herein, the provisions of the Prior ordinance shall
remain in full force and effect.
PASSED AND APPROVED this 11th day of August, 1997.
City of Owasso, Oklahoma
By Mary Lou Barnhouse, Mayor
ATTEST: Marcia Boutwell, City Clerk
APPROVED AS TO FORM: Ronald D. Cates, City Attorney
Exhibit "A"
The projects to be funded and the total estimated cost of said
projects are set forth below:
A. 86th St (Cedar to Main) Improvements (4 lane)
B 86th & Mingo Intersection
C 76th & 129th Intersection
D 116th & Garnett Intersection
E 86th & 145th Intersection
F Signalize 86th & 123rd
G. Resurface N Main (1st to 9th)
H. Resurface Atlanta (3rd to 11th)
I. Resurface Carlsbad (3rd to 5th)
J. Resurface 11th St (Main to Cedar)
K. Resurface 129th E Ave (High School to 93rd)
L . Resurface 86th (Main to 97th E Ave)
M. Right -of -Way & Utility Relocation (76th & 169)
TOTAL STREES $6,021,000
FACILITIES:
A. Renovate City Hall for Police Department
B. Replace Roof & Carpet in Community Center
C. Construct City Hall Facility
TOTAL FACILITIES $3,200,000
A. Parking Lot Extension
B. Second Restroom (soccer)
C. Construction of FourPlex Field
D. Construction of Soccer Field
TOTAL SPORTS PARK $500,00
TOTAL ALL PROJECTS $9,721,000
NOTE: There has been discussion that consideration should be given
to the acquisition of at least 50 acres of property suitable for
industrial development. Cost of acquiring such property would be
between $200,000 and $350,000, depending upon location and access
to utilities. While it appears that there is considerable interest
and support for such a project, there is a belief that earmarking
the land acquisition as a project, without the resources necessary
to develop the property, might not be in the best interest of the
community. Therefore, the proposed funding sources total $262,000
Exhibit A - 1
more than
the total project costs,
leaving excess potentially
available
for land acquisition at a later
date.
The
estimated funding sources
for the above referenced
projects are set forth below:
A.
Revenue Bonds (Net)
$6,960,000 ($8,000,000 Gross)
C-D
B.
Interest on Bond Reserves
Construction Account
$ 100,000
C.
Capital Future Fund
Account (As of 6/30/98)
$1,239,000
CO
&
D.
Annual Appropriation to
cr)
Capital Future Fund
(next three fiscal years)
$ 931,000
E.
86th Street Reserves on Hand
$ 653,000
F.
Existing monies already
allocated to City Hall
-$ 100,000
$9,983,000
Exhibit A - 2
CERTIFICATE
OF
CITY COUNCIL ACTION
I, the undersigned, hereby certify that I am the duly
qualified and acting City Clerk of the City of Owasso, Oklahoma.
CT" I further certify that the City Council of the City of Owasso,
clOklahoma, held a Special Meeting at 7:00 o'clock p.m., on August
11, 1997, after due notice was given in full compliance with the
Oklahoma Open Meeting Act.
CC) I further certify that attached hereto is a full and complete
copy of an Ordinance that was passed and approved by said City
Council at said meeting as the same appears in the official records
of my office and that said Ordinance is currently in effect and has
not been repealed or amended as of this date.
I further certify that below is listed those Council members
present and absent at said meeting; those making and seconding the
motion that said Ordinance be passed and approved; and those voting
for and against such motion®
PRESENT. WILKEN, BODE, HELM, STANDRIDGE, BARNHOUSE
ABSENT: NONE
MOTION SECONDED BY: WILKEN
AYE' BODE, WILKEN, HELM, STANDRIDGE, BARNHOUSE
NAY: NONE
1 2-
City Clerk Marcia Boutwell
3
Affidavit of Publication
STATE OF OKLAHOMA, TULSA COUNTY, ss:
Bill R. Retherford, of lawful age, being duly sworn
and authorized, says that he is the publisher of the
Owasso Reporter, a weekly newspaper published in
the City of Owasso, salsa County, Oklahoma, a news-
paper qualified to publish legal notices, advertise-
ments and publications as provided in Section 106 of
Title 25, Oklahoma Statutes 1971 and 1983 as
amended, and thereafter, and complies with all other
requirements of the laws of Oklahoma with reference
to legal publications.
That said notice, a true copy of which is attached
hereto, was published in the regular edition of said
newspaper during the period and time of publication
and not in a supplement, on the following dates:
Augusta 21,,pt 1997
Subscribed and sworn to before me this
Notary Public
My Commission expires: JUL 9 2001
PUBLIS1 ER'S FED, $165.30
Published In the Owasso Reporter, Owasso, Tulsa County, Oklahoma,
August 21, 1997.
CITY OF OWASSO
ORDINANCE NO. 553
ORDINANCE AMENDING ORDINANCE NO. 326 DATED APRIL 19,
1983, AS AMENDED BY AMENDED ORDINANCE NO. 326 DATED MAY
5, 1983, AS FURTHER AMENDED BY ORDINANCE NO. 395 DATED
AUGUST 18, 1988; AMENDING THE PURPOSE OF THE ONE PERCENT
(1%) SALES TAX LEVIED BY ORDINANCE NO. 326, AS PREVIOUSLY
AMENDED; ESTABLISHING EFFECTIVE DATE OF THIS ORDINANCE;
AND CONTAINING OTHER PROVISIONS RELATED THERETO.
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF OWASSO,
OKLAHOMA:
Section 1. Amendment of Prior Ordinance. That Ordinance No. 326 of
the City of Owasso, Oklahoma (the °City') dated April 19, 1983, as hereto-
fore amended by Amended Ordinance No. 326 of the City dated May 5,
1983, and as further amended by Ordinance No. 395 of the City dated
August 18, 1988 (collectively, the 'Prior Ordinance') is hereby amended by
deleting Section 4 of the Prior Ordinance pertaining to the purpose of the
Ordinance and said Section 4 is replaced in its entirety with the following:
'Section 4. Purpose. It Is hereby declared to be the purpose of this
Ordinance to provide revenues to finance or fund capital projects and
related costs only; said projects to be reviewed by the Capital
Improvements Committee, approved by the City Council, with over-
sight given by the Citizens' Watchdog Committee established by the
City Council, and subject to competitive bidding as required by law.
Specifically, the revenues shall be used (i) to pay the principal and
Interest requirements on The Owasso Public Works Authority's Public
9mprovement Revenue Bonds, Series 1988 Issued In the original prin-
cipal amount of $6,100,000 and/or the Authority's Public Improvement
Revenue Bonds to be Issued In the original principal amount of not to
exceed $8,500,000, or any Indebtedness Issued to refund said bond
Issues, (IQ after paying debt service on the referenced bond Issues, for
making deposits In an amount equal to fifteen percent (15%) of the
proceeds of said one percent (1 %) sales tax to the Capital Future
Fund of the City for the purposes of funding future capital Improve-
ment projects of the City as authorized by the voters of said City in an
election called for that purpose, provided that the amounts In the Capi-
tal Future Fund accumulated to date, plus those amounts to be aocu-
mulated through June 30, 2001, shall be Invnedlatey available to fund
those projects listed on Exhibit'A' hereto, and (110 to finance or fund
other capital projects reviewed by the Capital Improvements Commit-
tee, approved by the City Council, with oversight given by the Citizens'
Watchdog Committee established by the City Council. Any additional
Indebtedness, except as referenced above, Incurred by the City and/or
the Authority utilizing the proceeds of said one percent (1%) sales tax
must be approved by a majority of the registered, qualified voters of
the City, voting at periodic elections for such purposes. Because the
project costs and the sources of revenue referenced on Exhibit 'A'
involve estimates and projections, the City Council based upon a rec-
ommendation from the Capital Improvements Committee Is authorized
to add to those capital projects fisted or to delete and/or modify indi-
vidual projects based upon actual project costs and revenue receipts.'
Section 2. Effective Date. The provisions of this Ordinance No. 563 shall
be effective on October 14, 1997 subject to approval by a majority of the
registered voters of the City voting on the same in the manner prescribed
by law.
Section 3. Provisions of Prior Ordinance Unaffected. Except as amended
herein, the provisions of the Prior Ordinance shall remain in full force and
effect.
PASSED AND APPROVED this 11th day of August, 1997.
CITY OF OWASSO, OKLAHOMA
By /a/ Mary Lou Barnhouse
Mary Lou Samhouse, Mayor
(SEAL)
ATTEST
/a/ Maria Boutwell
Matcia Boutwell, City Clerk
APPROVED AS TO FORM:
/a/ Ronald D Cates
Ronald D Cates, CHy Attorney
Exhibit 'A'
The projects to be funded and the total estimated cost of said projects
are set forth below:
STREETS:
A. Wh St (Cedar to Main) Improvements (4 lane)
B. 861h & Mingo Intersection
C. 76th & 129th Intersection
D. I I6th & Garnett Intersection
E. 861h & 145th Intersection
F. Signalize B61h & 123rd
G. Resurface N Main (i at to 9th)
H. Resurface Atlanta (3rd to 11th)
1. Resurface Carlsbad (3rd to 5th)
J. Resurface filth St (Main to Cedar)
K. Resurface I Mh E Ave (High School to 93rd)
L. Resurface 861h (Main to 97th E Ave)
M. Right -of -Way & Utility Relocation (76th & 169)
TOTALSTREETS $6,021,000
FACILITIES:
A. Renovate City Hall for Police Department
B. Replace Roof & Carpet in Community Center
C. Construct City Hall Facility
TOTAL FACILITIES $3,200,000
SPORTS PARK DEVELOPMENT:
A. Parting Lot Extension
B. Second Restroom (soccer)
C. Construction of FourPlex Field
D. Construction of Soccer Field
TOTAL SPORTS PARK $
TOTAL ALL PROJECTS $9,721,000
NOTE: There has been discussion that consideration should be given to
the acquisition of at least 50 acres of property suitable for Industrial devel-
opment. Cost of acquiring such property would be between $200,000 and
$350,000, depending upon location and access to utilities. While it appears
that there Is considerable Interest and support for such a project, there Is a
belief that earmarking the land acquisition as a project, without the
resources necessary to develop the property, might not be In the best Inter-
est of the community. Therefore, the proposed funding sources total
$262,000 more than the total project costs, leaving excess potentially avail-
able for land acquisition at a later date.
The estimated funding sources for the above referenced projects are set
forth below -
A. Revenue Bonds (Net) $6,960,000 ($8,000,000 Bross)
B. Interest on Bond Reserves
& Construction Account $ 100,000
C. Capital Future Fund
Account (As of 6/30'98) $1,239,000
D. Annual Appropriation to
Capital Future Fund
(next three fiscal years) $ 931,000
E. 86th Street Reserves on Hand $ 653,000
F. Existing monies already
allocated to City Hall $ 100,000
$9,983,000