Broken Arrow City Council
Meeting of: 10/01/19
Title:
title
Consideration, discussion, and possible approval of the proposed list of projects for the 2018 General Obligation Bond Issue, Series 2019A Sale
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Background:
On August 28, 2018, the residents of Broken Arrow voted to approve the 2018 General Obligation Bond Program. The Council has authorized an initial sale of a portion of the 2018 GO Bonds in the amount of 12,500,000. Based upon the current valuation, staff proposes to sell $23,250,000 worth of projects approved by the voters.
The proposed project breakdown and amounts include the following:
Proposition 1 - Transportation $13,085,000
Proposition 2 - Public Safety $5,760,000
Proposition 3 - Quality of Life $2,585,000
Proposition 4 - Public Facilities $1,400,000
Proposition 5 - Stormwater $420,000
Total $23,250,000
A complete project breakdown is attached for your viewing.
Staff recommends approval of the proposed projects.
Cost: None
Funding Source: None
Requested By: Kenneth D. Schwab, P.E., CFM, Assistant City Manager - Operations
Approved By: City Manager’s Office
Attachments: 180503 GO Bond Program - Publication 7
Recommendation:
recommend
Approve the proposed list of 2018 General Obligation Bond Issue for Sale in Series 2019A.
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