Broken Arrow City Council
Meeting of: 10/15/2024
Title:
title
Consideration, discussion, and possible approval of Ordinance No. 3847, an Ordinance providing for the issuance of General Obligation Bonds, Series 2024 in the sum of $23,500,000 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; designating the registrar for the issue; providing for levy of an annual tax for the payment of principal and interest on the Bonds and fixing other details of the issue; approving the forms of a Continuing Disclosure Agreement and an Official Statement; authorizing executions and actions necessary for the issuance and delivery of the Bonds; and declaring an emergency
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Background:
The proposed sale was considered in a previous Council Agenda item. The Ordinance in front of you finalizes the steps required to proceed with authorizing the sale.
Cost: Estimated $140,000.00 in issuance costs
Funding Source: Proceeds from the 2024A GO Bond Sale
Requested By: Cynthia S. Arnold, Finance Director
Approved By: City Manager’s Office
Attachments: Ordinance 3847
Recommendation:
recommend
Adopt Ordinance Number 3847 and approve the emergency clause.
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