Broken Arrow Economic Development Authority
Meeting of: 05/20/2025
Title:
title
Consideration, discussion and possible approval of Resolution No. 1656, a Resolution of the Broken Arrow Economic Development Authority (the "Authority") accepting the responsibilities as designated to the Authority by the City of Broken Arrow, Oklahoma (the "City") pursuant to the Hackberry Market Economic Development Project Plan adopted by the City; authorizing the General Manager, or designee, to proceed with the development of the financing plan in connection with increment District No. 6, City of Broken Arrow, including preparation of a preliminary official statement; designating an underwriter and a trustee bank in connection with the proposed issuance of the Authority's Tax Apportionment Bonds, Taxable Series 2025 (Hackberry Market Increment District Project); approving, ratifying and affirming professional services agreements related to bond and financing professionals; and containing other provisions relating thereto
End
Background:
The city has adopted and approved the Hackberry Market Economic Development project plan by Ordinance 3875 on May 6, 2025 and has created Increment District #6. The Authority has under consideration the issuance of its Tax Apportionment Bonds, Taxable Series 2025 (Hackberry Market Increment District Project) in one or more series (collectively, the "Series 2025 Bonds"), for the purpose of (i) financing and/or reimbursing certain Project Costs authorized under the Project Plan, including specifically certain site development costs as described in the Project Plan (collectively, the "Project"); (ii) funding a reasonably required reserve fund; (iii) funding certain capitalized interest; and (iv) paying certain costs associated with the issuance of the Series 2025 Bonds.
Cost: TBD
Funding Source: Loan Proceeds
Requested By: Cynthia S, Arnold, Finance Director
Approved By: City Manager Office
Attachments: Resolution 1656, M...
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