Broken Arrow Municipal Authority
Meeting of: 05/05/2026
Title:
title
Consideration, discussion, and possible approval of Resolution 1746, a Resolution of the Broken Arrow Municipal Authority (the “Borrower”) authorizing a loan from the Oklahoma Water Resources Board in the total aggregate principal amount of not to exceed $27,930,000; approving the issuance of a Series 2026A Promissory Note to Oklahoma Water Resources Board in the total aggregate principal amount of not to exceed $27,930,000, secured by a pledge of revenues and authorizing its execution; designating a Local Trustee; approving and authorizing the execution of a Trust Agreement; approving and authorizing the execution of a Loan Agreement; approving and authorizing the execution of a Security Agreement; ratifying and confirming a Lease Agreement; ratifying and confirming a Sales Tax Agreement; approving and authorizing a Note Purchase Agreement; approving various covenants; approving and authorizing application to the Oklahoma Water Resources Board; approving and authorizing professional services agreements; approving and authorizing payment of fees and expenses; and containing other provisions relating thereto
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Background:
The Broken Arrow Municipal Authority has a list of projects that would qualify for the FAP (Financial Assistance Program) loan program through the Oklahoma Water Resource Board. A full list of projects is attached. Resolution No. 1746 authorizes application of the loan and authorizes the loan and issuance of the 2026A Promissory Note not to exceed $27,930,000. Staff is recommending moving forward with this action. We usually apply to the OWRB later in the year and we want to jump on the opportunity of cost savings since we will share the cost of issuance with Edmond who will do their FAP loan at the same time.
Cost: Estimated to be $290,570.76
Funding Source: Proceeds from of the OWRB loans
Requested By: Cynthia S. Arnold, Finance Director
Approved By: City Manager’s Office
Attachments: Resolution No. 1746, List of projects, Public Law Finance Law Group PLLC
Recommendation:
recommend
Approve and authorize execution of Resolution No. 1746
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