Broken Arrow City Council
Meeting of: 11-13-2018
Title:
title
Consideration, discussion, and possible adoption of Ordinance Number 3544, an ordinance providing for the issuance of $10,860,000 General Obligation Bonds, Series 2018B by the City of Broken Arrow, Oklahoma, authorized at an election duly called and held for such purpose; prescribing form of bonds; providing for registration thereof; providing levy of an annual tax for the payment of principal and interest on the same; and fixing other details of the issue and declaring an emergency
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Background:
The proposed sale was considered in a previous Council Agenda item. This ordinance finalizes the steps required to proceed with a positive vote authorizing the sale.
Cost: Estimated $220,000 in total issuance costs
Funding Source: Proceeds of the GO bond sale.
Requested By: Cynthia Arnold, Finance Director
Approved By: Michael L. Spurgeon, City Manager
Attachments: Ordinance 3544
Recommendation:
recommend
Approve and authorize execution of Ordinance Number 3544 and approve the emergency clause.
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