Broken Arrow City Council
Meeting of: 09-15-26
Title:
title
Approval of Resolution No. 1773, a Resolution declaring the intent of the City of Broken Arrow (the “City”) to expend certain funds in connection with the acquisition of certain real property with said expenditures to be reimbursed from the proceeds of general obligation debt to be incurred by the City; and containing other provisions relating thereto and authorizing execution of Resolution No. 1773
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Background:
Resolution No. 1773 is declaring the intent of the City to expend certain funds in connection with the acquisition of certain real property with said expenditures to be reimbursed from the proceeds of General obligation debt. The project financed by the City was the purchase of the property at 1201 S. Main St. In the 2026 General Obligation bond series sale in 2026 or 2027 there will be $650,000 for this purchase. Through Fiscal Year 2027 Budget Amendment #1 on July 14, 2026, the City Council authorized the use of Sales Tax Capital Improvements (STCI) funds for the purchase of the property. When the General Obligation bonds are sold, STCI will be reimbursed for the purchase of the property.
Cost: $650,000.00
Funding Source: 2026 General Obligation Bonds
Requested By: Cynthia Arnold, Finance Director
Approved By: City Manager’s Office
Attachments: Resolution No. 1773
Recommendation:
recommend
Approve Resolution No. 1773 and authorize its execution.
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