Broken Arrow Economic Development Authority
Meeting of: 06/02/2025
Title:
title
Consideration, discussion, and possible approval of and authorization to execute Resolution No. 1666, a Resolution of the Broken Arrow Economic Development Authority (the "Authority") accepting the responsibilities as designated to the Authority by the City of Broken Arrow, Oklahoma (the "City") pursuant to the Hackberry Market Economic Development Project plan adopted by the City; authorizing the Authority to issue its Tax Apportionment Bonds, Taxable Series 2025 (Hackberry Market Increment District Project) (the "Bonds") in one or more series in the aggregate principal amount of not to exceed $28,000,000.00, and authorizing a Certificate of Determination; waiving competitive bidding and authorizing the Bonds to be sold on a negotiated basis; approving the form of Bond Purchase Agreement; approving and authorizing execution of a General Bond Indenture and a Series 2025 Supplemental Bond Indenture (collectively, the "Indenture") authorizing the issuance and securing the payment of the Bonds; approving and authorizing execution of a Security Agreement by and between the City and the Authority pertaining to a pledge of certain sales tax increment revenue; providing that the organizational document creating the Authority is subject to the provisions of the Indenture; approving the form of an Official Statement pertaining to the Bonds, authorizing the Chairperson or Vice Chairperson to approve any correction to said Official Statement, and authorizing distribution of the same; approving the form of a Continuing Disclosure Agreement; approving the use of assistance in development financing; approving and authorizing the execution of a Development Financing Assistance Agreement, Mortgage and Security Agreement, and Construction Escrow Agreement; authorizing and directing the execution of the Bonds and other documents relating to the transaction; and containing other provisions relat...
Click here for full text