Broken Arrow City Council
Meeting of: 12-19-2017
To: Mayor and City Council
From: Finance Department
Title:
title
Consideration and possible approval of Resolution Number 1078, a resolution approving action taken by the Broken Arrow Municipal Authority authorizing the issuance of its promissory note in the principal amount of $2,100,000 to the Oklahoma Water Resources Board; ratifying and confirming a lease agreement and operation and maintenance contract and a security agreement between the City and the Authority and containing other provisions relating thereto
End
Background:
The City must approve any debt incurred by the Broken Arrow Municipal Authority (“BAMA”). Resolution Number 1078 approves the action taken by BAMA under Resolution Number 1077 authorizing the issuance of a Clean Water State Revolving Fund promissory note in the principal amount of $2,100,000 to the Oklahoma Water Resources Board.
Cost: $0
Prepared By: Tom Cook Jr, Acting Finance Director
Reviewed By: Legal Department
Assistant City Manager, Administration
Assistant City Manager, Operations
Approved By: Michael L. Spurgeon, City Manager
Attachments: Resolution Number 1078
Recommendation:
Approve Resolution 1078 and authorize its execution.