Broken Arrow City Council
Meeting of: 10/15/2024
Title:
title
Receive bids for the purchase of $23,500,000 General Obligation Bonds, Series 2024 of the city and vote to award said Bonds to the lowest bidder complying with the Notice of Sale and Instructions to Bidders or to reject all bids and authorize execution of the minutes of sale
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Background:
The Council authorized the solicitation of bids to sell $23,500,000 in General Obligation Bonds from the 2018 authorization at the regular September 17, 2024 Council meeting. Notice of sale for this Series was published and sent to prospective purchasers.
Bids will be received at 11:00 am Central Time October 15, 2024 for the possible sale of $23,500,000 in General Obligation Bonds. A representative from Municipal Finance Services, the City’s Financial Advisors, will be present to review the bids received and to answer any questions you may have. If the sale is approved, the Council will consider Ordinance Number 3847 later in the agenda. The proceeds from the proposed sales will be utilized for the approved projects. Bids will be presented at the Council meeting.
Cost: Estimated $140,000
Funding Source: Proceeds from the 2024A GO Bond Sale
Requested By: Cynthia S. Arnold, Finance Director
Approved By: City Manager’s Office
Attachments: Minutes of Sale of Bonds 2024A and the project list
Recommendation:
recommend
Receive and approve the bids and award the most advantageous bid for the sale of $23,500,000 in General Obligation Bonds Series 2024A, and authorize execution of all pertinent documents related thereto and authorize execution of the minutes of sale
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