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Bond Sports & StreetsTulsa County Clerk - EARLENE WILSON 4 Doc # 2011072747 Page(s): 8 Recorded 08/22/2011 at 02:35 PM o A Receipt # 289548 Fee $27.00 ORDINANCE NO. 993 AN ORDINANCE AUTHORIZING THE CALLING AND HOLDING OF A SPECIAL ELECTION IN THE CITY OF OWASSO, STATE OF OKLAHOMA (THE "CITY"), ON THE 11' DAY OF OCTOBER, 2011, FOR THE PURPOSE OF SUBMITTING TO THE REGISTERED QUALIFIED ELECTORS OF SAID CITY THE QUESTION OF THE ISSUANCE OF THE BONDS OF SAID CITY IN AN AMOUNT NOT TO EXCEED THE SUM OF SIXTEEN MILLION DOLLARS ($16,000,000) TO BE ISSUED IN SERIES TO PROVIDE FUNDS (I) FOR THE PURPOSE OF ACQUIRING, CONSTRUCTING, AND IMPROVING YOUTH SPORTS FACILITIES, ALL TO BE OWNED EXCLUSIVELY BY THE CITY, AND (II) FOR THE PURPOSE OF CONSTRUCTING STREET IMPROVEMENTS, TO INCLUDE SIDEWALKS, CURB AND DRAINAGE IMPROVEMENTS, AND OTHER RELATED IMPROVEMENTS, AND LEVYING AND COLLECTING AN ANNUAL TAX, IN ADDITION TO ALL OTHER TAXES, UPON ALL THE TAXABLE PROPERTY IN SAID CITY SUFFICIENT TO PAY THE INTEREST ON SAID. BONDS AS IT FALLS DUE, AND ALSO TO CONSTITUTE A SINKING FUND FOR THE PAYMENT OF PRINCIPAL THEREON WHEN DUE; AND CONTAINING OTHER PROVISIONS RELATED THERETO. WHEREAS, it is deemed advisable and necessary by the City Council of the City of Owasso, Oklahoma (the "City") (i) to acquire, construct, and improve youth sports facilities, all to be owned exclusively by the City, and (ii) to construct street improvements, to include sidewalks, curb and drainage improvements, and other related improvements; and WHEREAS, the estimated amount necessary for such purposes is Sixteen Million Dollars ($16,000,000); and WHEREAS, there are no funds in the treasury for such purposes, and power is granted said City by Section 27, Article X, of the Oklahoma Constitution and laws of the State of Oklahoma, to issue bonds to provide funds for such purposes, provided the same be authorized by the registered qualified electors thereof, voting at an election held for that purpose. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF OWASSO, OKLAHOMA: Section 1. Propositions. That the Mayor of the City be, or in his absence or incapacity, the duly qualified Vice-Mayor, be and hereby is authorized and directed to call a special election to be held in the City on the IIth day of October, 2011, for the purpose of submitting to the registered qualified electors of the City, the following propositions: 2 PROPOSITION NO. 1 "SHALL THE CITY OF OWASSO, STATE OF OKLAHOMA (THE "CITY'), INCUR AN INDEBTEDNESS BY ISSUING ITS BONDS IN THE SUM OF ELEVEN MILLION DOLLARS ($11,000,000) TO PROVIDE FUNDS FOR THE PURPOSE OF ACQUIRING, CONSTRUCTING, AND IMPROVING YOUTH SPORTS FACILITIES, ALL TO BE OWNED EXCLUSIVELY BY THE CITY, SAID PROJECTS TO BE ACCOMPLISHED WITH OR WITHOUT THE USE OF OTHER FUNDS; AND LEVY AND COLLECT AN ANNUAL TAX, IN ADDITION TO ALL OTHER TAXES, UPON ALL THE TAXABLE PROPERTY IN SAID CITY SUFFICIENT TO PAY THE INTEREST ON SAID BONDS AS IT FALLS DUE, AND ALSO TO CONSTITUTE A SINKING FUND FOR THE PAYMENT OF THE PRINCIPAL THEREOF WHEN DUE, SAID BONDS TO BEAR INTEREST AT NOT TO EXCEED THE RATE OF TEN PERCENTUM (10%) PER ANNUM, PAYABLE SEMI-ANNUALLY AND TO BECOME DUE SERIALLY WITHIN TWENTY (20) YEARS FROM THEIR DATE?" PROPOSITION NO. 2 "SHALL THE CITY OF OWASSO, STATE OF OKLAHOMA (THE "CITY'), INCUR AN INDEBTEDNESS BY ISSUING ITS BONDS IN THE SUM OF FIVE MILLION DOLLARS ($5,000,000) TO PROVIDE FUNDS FOR THE PURPOSE OF CONSTRUCTING STREET IMPROVEMENTS, TO INCLUDE SIDEWALKS, CURB AND DRAINAGE IMPROVEMENTS, AND OTHER RELATED IMPROVEMENTS, SAID PROJECTS TO BE ACCOMPLISHED WITH OR WITHOUT THE USE OF OTHER FUNDS; AND LEVY AND COLLECT AN ANNUAL TAX, IN ADDITION TO ALL OTHER TAXES, UPON ALL THE TAXABLE PROPERTY IN SAID CITY SUFFICIENT TO PAY THE INTEREST ON SAID BONDS AS IT FALLS DUE, AND ALSO TO CONSTITUTE A SINKING FUND FOR THE PAYMENT OF THE PRINCIPAL THEREOF WHEN DUE, SAID BONDS TO BEAR INTEREST AT NOT TO EXCEED THE RATE OF TEN PERCENTUM (10%) PER ANNUM, PAYABLE SEMI-ANNUALLY AND TO BECOME DUE SERIALLY WITHIN TWENTY (20) YEARS FROM THEIR DATE?" Section 2. Description of Projects and Use of Proceeds. (Proposition No. 1) Youth Sports Project The youth sports facility improvements in the City of Owasso, Oklahoma, include but are not limited to the acquisition, construction, and equipping of facilities for soccer, baseball, and softball as listed below. The specific projects for which at least seventy percent (70%) of the 3 proceeds of the aforesaid youth sports bonds shall be expended and the dollar amount of each such project shall be as follows: Soccer Facilities Acquisition of land and construction and equipping of tournament quality soccer $7,000,000 facilities at a site to be determined. Baseball Facilities Construction and equipping of new baseball fields and improvements to $3,000,000 existing baseball fields, all located at the Owasso Sports Park. Softball Facilities Construction and equipping of new softball fields and improvements to existing softball $1,000,000 fields, all located at the Owasso Sports Park. TOTAL $11,000,000 (Proposition No. 2) Street Project The street improvements in the City of Owasso, Oklahoma, include but are not limited to the construction of street improvements, to include sidewalks, curb and drainage improvements, and other related improvements. The specific project for which at least seventy percent (70%) of the proceeds of the aforesaid street bonds shall be expended and the dollar amount of such project shall be as follows: Street Facilities The widening, together with sidewalk, curb, drainage, and other related $5,000,000 improvements of Garnett Road from 96th Street to 106th Street and of 76th Street from the Highway 169 interchange to 129th East Avenue. 4 Section 3. That such call for said election shall be by proclamation and notice, signed by the Mayor or Vice-Mayor of the City and attested by the City Clerk, setting forth the propositions to be voted upon, the number and location of the polling places, the hours of opening and closing of the polls, and the names of the officers who shall conduct said election. That the ballots shall set forth the propositions to be voted upon substantially as set out in Section 1 hereof, and that the returns of said election shall be made to and canvassed by the Tulsa County Election Board. Section 4. That a copy of this Ordinance and Special Election Proclamation and Notice shall be personally delivered to the office of the County Election Board of Tulsa County, State of Oklahoma, at least sixty (60) days prior to the date of said election. PASSED AND APPROVED this 9`" day of August, 2011. OF OFFICIAL (SEAL) SEAL ATTEST: City Clerk CITY OF OWASSO, OKLAHOMA STATE OF OKLAHOMA ) ) SS COUNTY OF TULSA ) I, the undersigned, the duly qualified and acting Clerk of the City of Owasso, in said County and State, hereby certify that the foregoing is a true and complete copy of the Ordinance authorizing the calling and holding of an election for the purpose therein set out adopted by said City and transcript of proceedings of said City at a special meeting thereof duly held on the date therein set out, insofar as the same relate to the introduction, reading and adoption of an Ordinance as the same appears of record in my office. WITNESS my hand and the seal of said City this 9th day of August, 2011. (SEAL) City Clerk SPECIAL ELECTION PROCLAMATION AND NOTICE Under and by virtue of Section 27 of Article X, of the Oklahoma Constitution and the Statutes of the State of Oklahoma, and Acts complementary, supplementary, and enacted pursuant thereto, and Ordinance No. 993 dated August 9, 2011, authorizing the calling of an election on the propositions hereinafter set forth, I, the undersigned Mayor of the City of Owasso, Oklahoma, hereby call a special election and give notice thereof to be held in the City of Owasso, Oklahoma, on the I I'h day of October, 2011, for the purpose of submitting to the registered, qualified voters in said City the following propositions: PROPOSITION NO. 1 "SHALL THE CITY OF OWASSO, STATE OF OKLAHOMA (THE "CITY"), INCUR AN INDEBTEDNESS BY ISSUING ITS BONDS IN THE SUM OF ELEVEN MILLION DOLLARS ($11,000,000) TO PROVIDE FUNDS FOR THE PURPOSE OF ACQUIRING, CONSTRUCTING, AND IMPROVING YOUTH SPORTS FACILITIES, ALL TO BE OWNED EXCLUSIVELY BY THE CITY, SAID PROJECTS TO BE ACCOMPLISHED WITH OR WITHOUT THE USE OF OTHER FUNDS; AND LEVY AND COLLECT AN ANNUAL TAX, IN ADDITION TO ALL OTHER TAXES, UPON ALL THE TAXABLE PROPERTY IN SAID CITY SUFFICIENT TO PAY THE INTEREST ON SAID BONDS AS IT FALLS DUE, AND ALSO TO CONSTITUTE A SINKING FUND FOR THE PAYMENT OF THE PRINCIPAL THEREOF WHEN DUE, SAID BONDS TO BEAR INTEREST AT NOT TO EXCEED THE RATE OF TEN PERCENTUM (10%) PER ANNUM, PAYABLE SEMI-ANNUALLY AND TO BECOME DUE SERIALLY WITHIN TWENTY (20) YEARS FROM THEIR DATE? " ❑ FOR THE ABOVE PROPOSITION ❑ AGAINST THE ABOVE PROPOSITION PROPOSITION NO.2 "SHALL THE CITY OF OWASSO, STATE OF OKLAHOMA (THE "CITY"), INCUR AN INDEBTEDNESS BY ISSUING ITS BONDS IN THE SUM OF FIVE MILLION DOLLARS ($5,000,000) TO PROVIDE FUNDS FOR THE PURPOSE OF CONSTRUCTING STREET IMPROVEMENTS, TO INCLUDE SIDEWALKS, CURB AND DRAINAGE IMPROVEMENTS, AND OTHER RELATED IMPROVEMENTS, SAID PROJECTS TO BE ACCOMPLISHED WITH OR WITHOUT THE USE OF OTHER FUNDS; AND LEVY AND COLLECT AN ANNUAL TAX, IN ADDITION TO ALL OTHER TAXES, UPON ALL THE TAXABLE PROPERTY IN SAID CITY SUFFICIENT TO PAY THE INTEREST ON SAID BONDS AS IT FALLS DUE, AND ALSO TO CONSTITUTE A SINKING FUND FOR THE PAYMENT OF THE PRINCIPAL THEREOF WHEN DUE, SAID BONDS TO BEAR INTEREST AT NOT TO EXCEED THE RATE OF TEN PERCENTUM (10%) PER ANNUM, PAYABLE SEMI-ANNUALLY AND TO BECOME DUE SERIALLY WITHIN TWENTY (20) YEARS FROM THEIR DATE?" ❑ FOR THE ABOVE PROPOSITION ❑ AGAINST THE ABOVE PROPOSITION DESCRIPTION OF PROJECTS AND USE OF PROCEEDS (Proposition No. 1) Youth Sports Project The youth sports facility improvements in the City of Owasso, Oklahoma, include but are not limited to the acquisition, construction, and equipping of facilities for soccer, baseball, and softball as listed below. The specific projects for which at least seventy percent (70%) of the proceeds of the aforesaid youth sports bonds shall be expended and the dollar amount of each such project shall be as follows: Soccer Facilities Acquisition of land and construction and equipping of tournament quality soccer $7,000,000 facilities at a site to be determined. Baseball Facilities Construction and equipping of new baseball fields and improvements to existing baseball $3,000,000 fields, all located at the Owasso Sports Park. Softball Facilities Construction and equipping of new softball fields and improvements to existing softball $1,000,000 fields, all located at the Owasso Sports Park. TOTAL $11,000,000 (Proposition No. 2) Street Project The street improvements in the City of Owasso, Oklahoma, include but are not limited to the construction of street improvements, to include sidewalks, curb and drainage improvements, and other related improvements. The specific project for which at least seventy percent (70%) of the proceeds of the aforesaid street bonds shall be expended and the dollar amount of such project shall be as follows: Street Facilities The widening, together with sidewalk, curb, drainage, and other related improvements of $5,000,000 Garnett Road from 96t" Street to 106th Street and of 76th Street from the Highway 169 interchange to 129th East Avenue. 2 That only the registered, qualified voters of the City of Owasso, Oklahoma, may vote upon the propositions as above set forth. The polls shall be opened at 7:00 o'clock a.m. and shall remain open continuously until and be closed at 7:00 o'clock p.m. The number and location of the polling places and the names of the persons who shall conduct said election shall be designated by the County Election Board of Tulsa County, Oklahoma. Such officers shall also act as counters and certify the results in the case of regular elections and certify the results thereof as required by law. WITNESS my hand as Mayor of the City of Owasso, Oklahoma and the Seal of said City affixed hereto on the 9 h day of August, 2011. (SEAL) OFFICIA.L O SEAL ATTEST. City Clerk 1-2011-010353 Book 2188 Pg: 123 08/15/2011 8:43 am Pg 0123-0130 Fee'$ 27.00 Doc $ 0.00 Peggy .Armstrong - Rogers County Clerk State of Oklahoma INANCE NO. 993 AN ORDINANCE AUTHORIZING THE CALLING AND HOLDING OF A SPECIAL ELECTION IN THE CITY OF OWASSO, STATE OF OKLAHOMA (THE "CITY"), ON THE 11' DAY OF OCTOBER, 2011, FOR THE PURPOSE OF SUBMITTING TO THE REGISTERED QUALIFIED ELECTORS OF SAID CITY THE QUESTION OF THE ISSUANCE OF THE BONDS OF SAID CITY IN AN AMOUNT NOT TO EXCEED THE SUM OF SIXTEEN MILLION DOLLARS ($16,000,000) TO BE ISSUED IN SERIES TO PROVIDE FUNDS (I) FOR THE PURPOSE OF ACQUIRING, CONSTRUCTING, AND IMPROVING YOUTH SPORTS FACILITIES, ALL TO BE OWNED EXCLUSIVELY BY THE CITY, AND (II) FOR THE PURPOSE OF CONSTRUCTING STREET IMPROVEMENTS, TO INCLUDE SIDEWALKS, CURB AND DRAINAGE IMPROVEMENTS, AND OTHER RELATED IMPROVEMENTS, AND LEVYING AND COLLECTING AN ANNUAL TAX, IN ADDITION TO ALL OTHER TAXES, UPON ALL THE TAXABLE PROPERTY IN SAID CITY SUFFICIENT TO PAY THE INTEREST ON SAID. BONDS AS IT FALLS DUE, AND ALSO TO CONSTITUTE A SINKING FUND FOR THE PAYMENT OF PRINCIPAL THEREON WHEN DUE; AND CONTAINING OTHER PROVISIONS RELATED THERETO. WHEREAS, it is deemed advisable and necessary by the City Council of the City of Owasso, Oklahoma (the "City") (i) to acquire, construct, and improve youth sports facilities, all to be owned exclusively by the City, and (ii) to construct street improvements, to include sidewalks, curb and drainage improvements, and other related improvements; and WHEREAS, the estimated amount necessary for such purposes is Sixteen Million Dollars ($16,000,000); and WHEREAS, there are no funds in the treasury for such purposes, and power is granted said City by Section 27, Article X, of the Oklahoma Constitution and laws of the State of Oklahoma, to issue bonds to provide funds for such purposes, provided the same be authorized by the registered qualified electors thereof, voting at an election held for that purpose. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF OWASSO, OKLAHOMA: Section 1. Propositions. That the Mayor of the City be, or in his absence or incapacity, the duly qualified Vice-Mayor, be and hereby is authorized and directed to call a special election to be held in the City on the Ilth day of October, 2011, for the purpose of submitting to the registered qualified electors of the City, the following propositions: 2 1-2011-010353 Book 2188 Pg: 124 08/15/2011 8 43 am Pg 0123-0130 Fee: $ 27.00 Doc: $ 0.00 Peggy Armstrong - Rogers County Clerk PROPOSITION NO. I State of Oklahoma "SHALL THE CITY OF OWASSO, STATE OF OKLAHOMA (TIE "CITY"), INCUR AN INDEBTEDNESS BY ISSUING ITS BONDS IN THE SUM OF ELEVEN MILLION DOLLARS ($11,000,000) TO PROVIDE FUNDS FOR THE PURPOSE OF ACQUIRING, CONSTRUCTING, AND IMPROVING YOUTH SPORTS FACILITIES, ALL TO BE OWNED EXCLUSIVELY BY THE CITY, SAID PROJECTS TO BE ACCOMPLISHED WITH OR WITHOUT THE USE OF OTHER FUNDS; AND LEVY AND COLLECT AN ANNUAL TAX, IN ADDITION TO ALL OTHER TAXES, UPON ALL THE TAXABLE PROPERTY IN SAID CITY SUFFICIENT TO PAY THE INTEREST ON SAID BONDS AS IT FALLS DUE, AND ALSO TO CONSTITUTE A SINKING FUND FOR THE PAYMENT OF THE PRINCIPAL THEREOF WHEN DUE, SAID BONDS TO BEAR INTEREST AT NOT TO EXCEED THE RATE OF TEN PERCENTUM (10%) PER ANNUM, PAYABLE SEMI-ANNUALLY AND TO BECOME DUE SERIALLY WITHIN TWENTY (20) YEARS FROM THEIR DATE?" PROPOSITION NO. 2 "SHALL THE CITY OF OWASSO, STATE OF OKLAHOMA (THE "CITY"), INCUR AN INDEBTEDNESS BY ISSUING ITS BONDS IN THE SUM OF FIVE MILLION DOLLARS ($5,000,000) TO PROVIDE FUNDS FOR THE PURPOSE OF CONSTRUCTING STREET IMPROVEMENTS, TO INCLUDE SIDEWALKS, CURB AND DRAINAGE IMPROVEMENTS, AND OTHER RELATED IMPROVEMENTS, SAID PROJECTS TO BE ACCOMPLISHED WITH OR WITHOUT THE USE OF OTHER FUNDS; AND LEVY AND COLLECT AN ANNUAL TAX, IN ADDITION TO ALL OTHER TAXES, UPON ALL THE TAXABLE PROPERTY IN SAID CITY SUFFICIENT TO PAY THE INTEREST ON SAID BONDS AS IT FALLS DUE, AND ALSO TO CONSTITUTE A SINKING FUND FOR THE PAYMENT OF THE PRINCIPAL THEREOF WHEN DUE, SAID BONDS TO BEAR INTEREST AT NOT TO EXCEED THE RATE OF TEN PERCENTUM (10%) PER ANNUM, PAYABLE SEMI-ANNUALLY AND TO BECOME DUE SERIALLY WITHIN TWENTY (20) YEARS FROM THEIR DATE?" Section 2. Description of Projects and Use of Proceeds. (Proposition No. 1) Youth Sports Project The youth sports facility improvements in the City of Owasso, Oklahoma, include but are not limited to the acquisition, construction, and equipping of facilities for soccer, baseball, and softball as listed below. The specific projects for which at least seventy percent (70%) of the 3 1-2011-010353 Book 2188 Pg. 125 08/15/2011 8:43 am Pg 0123-0130 Fee: $ 27.00 Doc: $ 0.00 Peggy Armstrong - Rogers County Clerk State of Oklahoma proceeds of the aforesaid youth sports bonds shall be expended and the dollar amount of each such project shall be as follows: Soccer Facilities Acquisition of land and construction and equipping of tournament quality soccer $7,000,000 facilities at a site to be determined. Baseball Facilities Construction and equipping of new baseball fields and improvements to $3,000,000 existing baseball fields, all located at the Owasso Sports Park. Softball Facilities Construction and equipping of new softball fields and improvements to existing softball $1,000,000 fields, all located at the Owasso Sports Park. TOTAL $11,000,000 (Proposition No. 2) Street Project The street improvements in the City of Owasso, Oklahoma, include but are not limited to the construction of street improvements, to include sidewalks, curb and drainage improvements, and other related improvements. The specific project for which at least seventy percent (70%) of the proceeds of the aforesaid street bonds shall be expended and the dollar amount of such project shall be as follows: Street Facilities The widening, together with sidewalk, curb, drainage, and other related $5,000,000 improvements of Garnett Road from 96th Street to 106th Street and of 76th Street from the Highway 169 interchange to 129th East Avenue. 4 1-2011-010353 Book 2188 Pg 126 08/15/2011 8:43 ann Pg 0123-0130 Fee: $ 27.00 Doc: $ 0.00 Peggy Armstrong - Rogers County Clerk State of Oklahoma Section 3. That such call for said election shall be by proclamation and notice, signed by the Mayor or Vice-Mayor of the City and attested by the City Clerk, setting forth the propositions to be voted upon, the number and location of the polling places, the hours of opening and closing of the polls, and the names of the officers who shall conduct said election. That the ballots shall set forth the propositions to be voted upon substantially as set out in Section 1 hereof, and that the returns of said election shall be made to and canvassed by the Tulsa County Election Board. Section 4. That a copy of this Ordinance and Special Election Proclamation and Notice shall be personally delivered to the office of the County Election Board of Tulsa County, State of Oklahoma, at least sixty (60) days prior to the date of said election. PASSED AND APPROVED this 9"' day of August, 2011. (SEAL) ATTEST: City Clerk CITY OF OWASSO, OKLAHOMA STATE OF OKLAHOMA ) ) SS COUNTY OF TULSA ) 1-2011-010353 Book 2188 Pg: 127 08/15/2011 8:43 am Pg 0123-0130 Fee: $ 27.00 Doc $ 0.00 Peggy Armstrong - Rogers County Clerk State of Oklahoma I, the undersigned, the duly qualified and acting Clerk of the City of Owasso, in said County and State, hereby certify that the foregoing is a true and complete copy of the Ordinance authorizing the calling and holding of an election for the purpose therein set out adopted by said City and transcript of proceedings of said City at a special meeting thereof duly held on the date therein set out, insofar as the same relate to the introduction, reading and adoption of an Ordinance as the same appears of record in my office. WITNESS my hand and the seal of said City this 9th day of August, 2011. (SEAL) City Clerk OFFICIAL 1-2011-010353 Book 2188 Pg: 128 08/15/2011 8:43 am Pg 0123-0130 Fee: $ 27 00 Doc: $ 0.00 Peggy Armstrong - Rogers County Clerk State of Oklahoma SPECIAL ELECTION PROCLAMATION AND NOTICE Under and by virtue of Section 27 of Article X, of the Oklahoma Constitution and the Statutes of the State of Oklahoma, and Acts complementary, supplementary, and enacted pursuant thereto, and Ordinance No. 993 dated August 9, 2011, authorizing the calling of an election on the propositions hereinafter set forth, I, the undersigned Mayor of the City of Owasso, Oklahoma, hereby call a special election and give notice thereof to be held in the City of Owasso, Oklahoma, on the ll'h day of October, 2011, for the purpose of submitting to the registered, qualified voters in said City the following propositions: PROPOSITION NO. I "SHALL THE CITY OF OWASSO, STATE OF OKLAHOMA (THE "CITY"), INCUR AN INDEBTEDNESS BY ISSUING ITS BONDS IN THE SUM OF ELEVEN MILLION DOLLARS ($11,000,000) TO PROVIDE FUNDS FOR THE PURPOSE OF ACQUIRING, CONSTRUCTING, AND IMPROVING YOUTH SPORTS FACILITIES, ALL TO BE OWNED EXCLUSIVELY BY THE CITY, SAID PROJECTS TO BE ACCOMPLISHED WITH OR WITHOUT THE USE OF OTHER FUNDS; AND LEVY AND COLLECT AN ANNUAL TAX, IN ADDITION TO ALL OTHER TAXES, UPON ALL THE TAXABLE PROPERTY IN SAID CITY SUFFICIENT TO PAY THE INTEREST ON SAID BONDS AS IT FALLS DUE, AND ALSO TO CONSTITUTE A SINKING FUND FOR THE PAYMENT OF THE PRINCIPAL THEREOF WHEN DUE, SAID BONDS TO BEAR INTEREST AT NOT TO EXCEED THE RATE OF TEN PERCENTUM (10%) PER ANNUM, PAYABLE SEMI-ANNUALLY AND TO BECOME DUE SERIALLY WITHIN TWENTY (20) YEARS FROM THEIR DATE? " ❑ FOR THE ABOVE PROPOSITION ❑ AGAINST THE ABOVE PROPOSITION PROPOSITION NO.2 "SHALL THE CITY OF OWASSO, STATE OF OKLAHOMA (THE "CITY"), INCUR AN INDEBTEDNESS BY ISSUING ITS BONDS IN THE SUM OF FIVE MILLION DOLLARS ($5,000,000) TO PROVIDE FUNDS FOR THE PURPOSE OF CONSTRUCTING STREET IMPROVEMENTS, TO INCLUDE SIDEWALKS, CURB AND DRAINAGE IMPROVEMENTS, AND OTHER RELATED IMPROVEMENTS, SAID PROJECTS TO BE ACCOMPLISHED WITH OR WITHOUT THE USE OF OTHER FUNDS; AND LEVY AND COLLECT AN ANNUAL TAX, IN ADDITION TO ALL OTHER TAXES, UPON ALL THE TAXABLE PROPERTY IN SAID CITY SUFFICIENT TO PAY THE INTEREST ON SAID BONDS AS IT FALLS DUE, AND ALSO TO CONSTITUTE A SINKING FUND FOR THE PAYMENT OF THE PRINCIPAL THEREOF WHEN DUE, SAID BONDS TO BEAR INTEREST AT NOT TO EXCEED THE RATE OF TEN PERCENTUM (10%) PER ANNUM, PAYABLE SEMI-ANNUALLY AND TO BECOME DUE SERIALLY WITHIN TWENTY (20) YEARS FROM THEIR DATE?" ❑ FOR THE ABOVE PROPOSITION ❑ AGAINST THE ABOVE PROPOSITION 1-2011-010353 Book 2188 Pg 129 08/15/2011 843 am Pg 0123-0130 Fee: $ 27.00 Doc: $ 0.00 Peggy Armstrong - Rogers County Clerk State of Oklahoma DESCRIPTION OF PROJECTS AND USE OF PROCEEDS (Proposition No. 1) Youth Sports Project The youth sports facility improvements in the City of Owasso, Oklahoma, include but are not limited to the acquisition, construction, and equipping of facilities for soccer, baseball, and softball as listed below. The specific projects for which at least seventy percent (70%) of the proceeds of the aforesaid youth sports bonds shall be expended and the dollar amount of each such project shall be as follows: Soccer Facilities Acquisition of land and construction and equipping of tournament quality soccer $7,000,000 facilities at a site to be determined. Baseball Facilities Construction and equipping of new baseball fields and improvements to existing baseball $3,000,000 fields, all located at the Owasso Sports Park. Softball Facilities Construction and equipping of new softball fields and improvements to existing softball $1,000,000 fields, all located at the Owasso Sports Park. TOTAL $11,000,000 (Proposition No. 2) Street Project The street improvements in the City of Owasso, Oklahoma, include but are not limited to the construction of street improvements, to include sidewalks, curb and drainage improvements, and other related improvements. The specific project for which at least seventy percent (70%) of the proceeds of the aforesaid street bonds shall be expended and the dollar amount of such project shall be as follows: Street Facilities The widening, together with sidewalk, curb, drainage, and other related improvements of $5,000,000 Garnett Road from 96 b Street to 106"' Street and of 76 h Street from the Highway 169 interchange to 129`h East Avenue. 2 1-2011-010353 Book 2188 Pg: 130 08/15/2011 8:43 am Pg 0123-0130 Fee: $ 27.00 Doc: $ 0.00 Peggy Armstrong - Rogers County Clerk State of Oklahoma That only the registered, qualified voters of the City of Owasso, Oklahoma, may vote upon the propositions as above set forth. The polls shall be opened at 7:00 o'clock a.m. and shall remain open continuously until and be closed at 7:00 o'clock p.m. The number and location of the polling places and the names of the persons who shall conduct said election shall be designated by the County Election Board of Tulsa County, Oklahoma. Such officers shall also act as counters and certify the results in the case of regular elections and certify the results thereof as required by law. WITNESS my hand as Mayor of the City of Owasso, Oklahoma and the Seal of said City affixed hereto on the 9"' day of August, 2011. (SEAL) ATTEST. City Clerk 3 COUNTY OF TULSA 1 ORDINANCE AUTHDRRMG ELEGDON PURSUANT TO THE LEGAL NOTICE AS IS REQUIRED BY THE OKLAHOMA OPEN MEETING ACT INCLUDING THE POSTING OF NOTICE AND AGENDA AS 15 REQUIRED BY THE TERMS THEREOF, THE MAYOR AND THE CITY COUNCIL OFTHE CITY OF OKLAHOMA SION IN THE Swrls PaA. CITY COUNCIL CHAMBERS AT OLD CENTRAL, 10 NORTH BIRCH, IN SAID CITY ON THE 0TH DAY OF AUGUST, 2011, AT 6.'A OCLOCK PM. PRESENT: