Broken Arrow City Council
Meeting of: 09/16/2025
Title:
title
Consideration, discussion, and possible approval of Resolution 1703, a Resolution of the City of Broken Arrow, Oklahoma (the “City”) approving action taken by the Broken Arrow Municipal Authority (the “Authority”) authorizing issuance, sale and delivery of the Authority’s Series 2025B Promissory Note to Oklahoma Water Resources Board; ratifying and confirming a Lease Agreement; ratifying and confirming a Sales Tax Agreement; and containing other provisions related thereto
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Background:
Broken Arrow Municipal Authority has an opportunity to refinance a 2015 FAP loan that will save $130,000 (net present value) and shorten the length of the loan by one year. Resolution 1703 authorizes application of the Loan and authorizes the acceptance of the loan and issuance of the 2025B Promissory Note not to exceed $6,280,000.
Cost: Estimated $110,000
Funding Source: Proceeds from the OWRB loans
Requested By: Cynthia S. Arnold, Finance Director
Approved By: City Manager’s Office
Attachments: Resolution No. 1703, Public Law Firm PLLC contract
Recommendation:
recommend
Approve and authorize execution of Resolution No. 1703
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