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
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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
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