Broken Arrow City Council
Meeting of: 11/05/2019
Title:
title
Consideration, discussion and possible approval of and authorization to execute Resolution 1279, a Resolution adopting Continuing Disclosure Policies and Procedures for the City and its Public Trust and Authorities with respect to the obligations covered under Securities and Exchange Commission rules 15c2-12 (the Rule)
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Background:
With the next Bond Issues, pursuant to the Securities and Exchange Commission Rule 15c2-12 (“the Rule”), the City and its Public Trust and Authorities are required under most circumstances to provide financial and operating information on an annual basis and is required to have Continuing Disclosure Policies and Procedures. The City had not updated the required Disclosure Policies and Procedures since 2014. With this issue, Series 2019A, we are using Kutakrock LLP as the disclosure council. Justin Reppe of Kutakrock LLP updated our Continuing Disclosure Policies and Procedures to represent the current status and requirements from the SEC. There was no additional costs involved with this as it was included it in their Disclosure Council fee for Series 2019A
Cost: $0
Funding Source: N/A
Requested By: Cynthia S. Arnold, Finance Director
Approved By: City Manager’s Office
Attachments: Resolution 1279, Continuing Disclosure Policy and Procedures
Recommendation:
recommend
Approve Resolution 1279 and authorize its execution.
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