Broken Arrow Municipal Authority
Meeting of: 10/06/2020
Title:
title
Approval of and authorization to execute Budget Amendment Number 9 for Fiscal Year 2021
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Background:
The Municipal Budget Act adopted by the City Council allows the City and Authorities to amend the budget at any time during the year for necessary expenses incurred that exceed the original budget or when circumstances warrant the action.
Budget Amendment Number 9 provides for the recognition of loans from the Oklahoma Water Resources Board for approved Utility projects and the budgeting of expenses for the designated projects. Funds will be received from the Oklahoma Water Resources Board on a reimbursement of expenses basis. The Authority approved Resolutions 1336 and 1337 on 9/1/2020 for the issuance, sale and delivery of the Series 2020B Promissory Note and a Clean Water SRF loan.
Cost: $27,942,000.00
Funding Source: Oklahoma Water Resources Board Loans
Requested By: Cynthia Arnold, Finance Director
Approved By: City Manager’s Office
Attachments: Budget Amendment Number 9 - BAMA
Recommendation:
recommend
Approve and authorize execution of Budget Amendment Number 9 for Fiscal Year 2021.
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