Consider and take action with respect to a resolution of the Lawton Water Authority (the “Borrower”) agreeing to file application with the Oklahoma Department of Environmental Quality (ODEQ) for financial assistance through the Drinking Water State Revolving Fund (DWSRF) loan program, with the loan proceeds being for the purpose of financing certain Water system improvements; approving and authorizing a DWSRF loan from ODEQ in the total aggregate principal amount of not to exceed $33 million; approving the issuance of a promissory note or notes in one or more series in the total aggregate principal amount of not to exceed $33 million, secured by a pledge of revenues and authorizing its execution; approving and authorizing the execution of a loan agreement for DWSRF loan; designating a local trustee and approving and authorizing the execution of a trust agreement; approving and authorizing the execution of a security agreement; ratifying and confirming a lease agreement, as amended pertaining to certain water, sanitary sewer, and refuse systems; approving various covenants; approving and authorizing the establishment of a project costs disbursement account; and containing other provisions relating thereto.

Committee

Lawton Water Authority

Introduced

April 26, 2022

On agenda

May 10, 2022