Broken Arrow City Council
Meeting of: 04-17-18
To: Mayor and City Council
From: Finance Department
Title:
title
Receipt and consideration of bids for and possible action awarding the sale of $18,755,000 in principal amount of Series 2018A General Obligation Bonds and authorization to execute the pertinent documents related thereto
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Background:
The Council authorized the solicitation of bids to sell $18,755,000 in General Obligation Bonds from the 2014 authorization at the regular March 20, 2018 Council meeting. Notice of sale for this Series was published and sent to prospective purchasers.
Bids were received and opened at 1:00 p.m. Central Time, April 17, 2018 for the possible sale of $18,755,000 in General Obligation Bonds. A representative of Municipal Finance Services, the City’s Financial Advisor, will be present to review the bids received and to answer any questions you may have. If the sale is approved, the Council will consider Ordinance No. 3526 elsewhere on the agenda. The proceeds from the proposed sale will be utilized for the projects listed on the attachment. Bid results will be presented at the Council meeting.
Cost: $0
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: Moody’s Credit Opinion Report
2018A General Obligation Bonds Project Listing
Recommendation:
Approval of bids received and award the most advantageous for the sale of $18,755,000 in General Obligation Bonds Series 2018A, and authorize execution of all pertinent documents related thereto.