Broken Arrow City Council
Meeting of: 04-17-18
To: Mayor and City Council
From: Finance Department
Title:
title
Consideration, discussion, and possible adoption of Ordinance No. 3526, an ordinance providing for the issuance of $18,755,000 General Obligation Bonds, Series 2018A by the City of Broken Arrow, Oklahoma, authorized at an election duly called and held for such purpose; prescribing form of bonds; providing for registration thereof; providing levy of an annual tax for the payment of principal and interest on the same; and fixing other details of the issue and declaring an emergency
End
Background:
The proposed sale was considered in a previous Council Agenda Item. This ordinance finalizes the steps required to proceed with a positive vote authorizing the sale.
Cost: $100,000 estimated issuance costs
Prepared By: Tom Cook Jr., Controller
Reviewed By: Legal Department
Russell M. Gale, Assistant City Manager of Administration
Approved By: Michael L. Spurgeon, City Manager
Attachments: Ordinance 3526
Moody’s Credit Opinion
Recommendation:
Approve and authorize execution of Ordinance Number 3526 and approve the emergency clause.