Durant City Utilities Authority

Agenda — 3 items

1. Consider and Take Action with Respect to a Resolution R-2025-08 of The Durant City Utilities Authority (the “Borrower”) Authorizing a Loan from the Oklahoma Water Resources Board in the Total Aggregate Principal Amount of Not to Exceed $16,450,000.00; Approving the Issuance of a Promissory Note in the Total Aggregate Principal Amount of Not to Exceed $16,450,000.00, Secured by a Pledge of Revenues and Authorizing Its Execution; Designating a Local Trustee; Approving and Authorizing the Execution of a Trust Agreement; Approving and Authorizing the Execution of a Loan Agreement; Approving and Authorizing the Execution of a Security Agreement; Ratifying and Confirming a Lease, as Amended, By and Between the City of Durant, Oklahoma (the “City”) and the Borrower Pertaining to Certain Water, Sanitary Sewer, and Garbage Systems; Ratifying and Confirming a Sales Tax Agreement By and Between the City and the Borrower Pertaining to a Year-to-Year Pledge of Certain Sales Tax Revenue; Approving and Authorizing a Note Purchase Agreement; Approving various covenants; approving and authorizing application to the Oklahoma Water Resources Board; approving and authorizing professional services agreements; approving and authorizing payment of Fees and Expenses; and Containing Other Provisions Relating Thereto. [Series 2025B FAP Note – Drainage Project]
2. Consider and Take Action with Respect to a Resolution R-2025-09 of The Durant City Utilities Authority (the “Borrower”) Authorizing a Loan From the Oklahoma Water Resources Board in the Total Aggregate Principal Amount of Not to Exceed $35,270,000.00; Approving the Issuance of a Promissory Note in the Total Aggregate Principal Amount of Not to Exceed $35,270,000.00, Secured by a Pledge of Revenues and Authorizing Its Execution; Designating a Local Trustee; Approving and Authorizing the Execution of a Trust Agreement; Approving and Authorizing the Execution of a Loan Agreement; Approving and Authorizing the Execution of a Security Agreement; Ratifying and Confirming a Lease, as Amended, By and Between the City of Durant, Oklahoma (the “City”) and the Borrower Pertaining to Certain Water, Sanitary Sewer, and Garbage Systems; Ratifying and Confirming a Sales Tax Agreement By and Between the City and the Borrower Pertaining to a Year-to-Year Pledge of Certain Sales Tax Revenue; Approving and Authorizing a Note Purchase Agreement; Approving Various Covenants; Approving and Authorizing Application to the Oklahoma Water Resources Board; Approving and Authorizing Professional Services Agreements; Approving and Authorizing Payment of Fees and Expenses; and Containing Other Provisions Relating Thereto. [Series 2025C FAP Note – Water Line Project]
3. Consider and Take Action with Respect to a Resolution R-2025-07 Authorizing The Durant City Utilities Authority (the “Authority”) to Issue Its Utility System and Sales Tax Revenue Note, Series 2025A (the “Note”) in the Aggregate Principal Amount of Not-to-Exceed $16,000,000; Waiving Competitive Bidding and Authorizing the Note to be Sold on a Negotiated Basis; Ratifying and Confirming the Sales Tax Agreement By and Between the City of Durant, Oklahoma (the “City”) and the Authority Pertaining to a Year-to-Year Pledge of Certain Sales Tax Revenue; Approving and Authorizing Execution of a Series 2025A Supplemental Note Indenture Authorizing the Issuance and Securing the Payment of the Note; Providing that the Organizational Document Creating the Authority is Subject to the Provisions of the Indenture; Ratifying and Confirming the Lease, as Amended, Pertaining to the City’s Utility Systems; Authorizing and Directing the Execution of the Note and Other Documents Relating to the Transaction, Including Professional Services Agreements; Authorizing the Authority’s Financial Advisor to Distribute Bid Packages to Prospective Financial Institutions in Connection with the Sale of the Note; and Containing Other Provisions Relating Thereto. [Series 2025A Note – Main Street Project]

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