LEGISLATIVE RESEARCH CENTER
File #: 22-832    Name:
Type: General Business Status: Agenda Ready
File created: 6/14/2022 In control: Broken Arrow City Council
On agenda: 6/20/2022 Final action:
Title: Consideration, discussion, and possible approval of Resolution No. 1466, a Resolution declaring the intent of the City of Broken Arrow (the "City") to expend certain funds in connection with the acquisition of certain firefighting apparatuses with said expenditures to be reimbursed from the proceeds of general obligation debt to be incurred by the City; and containing other provisions relating thereto and authorizing execution of Resolution No. 1466
Attachments: 1. Resolution 1466 Reimbursement

Broken Arrow City Council

Meeting of: 06/20/2022

 

Title:

title

Consideration, discussion, and possible approval of Resolution No. 1466, a Resolution declaring the intent of the City of Broken Arrow (the “City”) to expend certain funds in connection with the acquisition of certain firefighting apparatuses with said expenditures to be reimbursed from the proceeds of general obligation debt to be incurred by the City; and containing other provisions relating thereto and authorizing execution of Resolution No. 1466

End

 

Background:

Resolution No. 1465 set the sale of the next bond series 2022A for $43,000,000. Resolution No. 1466 is declaring the intent for the City to expend certain funds in connection with the acquisitions of certain firefighting apparatuses with said expenditures to be reimbursed from the proceeds pf General obligation debt. The project to be financed by the city will include two Pierce Enforcer Pumper Trucks with the related appurtenances at a cost of $1,472,139.94. In the bond series 2022A there is $750,000 will be sold to fund one truck and next year we sell the remainder of the funds needed. We are currently going to use fund balance of the Fires Sales Tax Fund to be secure the Purchase Order. There is a two-year lead time before we can receive the trucks

 

Cost:                                                                Not to exceed $1,500,000

Funding Source:                     Proceeds from Sale

Requested By:                      Cynthia S. Arnold, Finance Director

Approved By:                      City Manager’s Office

Attachments:                                          Resolution No. 1466

Recommendation:

recommend

Approve Resolution No.1466 and authorize its execution 

end