Broken Arrow Municipal Authority
Meeting of: 09-20-2016
To: Chairman and Trustees
From: Finance Department
Title:
title
Consideration, discussion, and possible approval of Resolution Number 939; a resolution authorizing preparation and submission of a loan application to the Oklahoma Water Resources Board (“OWRB”) for financial assistance through the State Loan Program, with the loan proceeds being for the purpose of paying for costs related to design, construction, and inspection of water and sewer system improvements; approving the payment of an application fee; designating Legal and Financial Professionals to assist in the application process and approving contracts for such services; authorizing the Chairman and Secretary to execute certain application documents; and containing other provisions related thereto
End
Background:
The attached resolution is for application to the Oklahoma Water Resources Board for a loan through the State Loan Program for the purpose of paying costs associated with construction, inspection, and design of improvements to the water and sewer system. The loan amount is anticipated to be in the amount of $20,200,000.
Cost: $0
Prepared By: Thomas L. Caldwell, Finance Director
Reviewed By: Legal Department
Assistant City Manager--Administration
Approved By: Michael L. Spurgeon, City Manager
Attachments: Resolution Number 939
Recommendation:
Approve Resolution Number 939 and authorize its execution