Rescind the Resolution No 23-03 that was approved on May 16th and consider and take action with respect to approve the new resolution with the Lawton Water Authority (the “Borrower”) approving and ratifying the filing of an programmatic application the Oklahoma Water Resources Board (the “Board”) for financial assistance through Financial Assistance Program (FAP) loan program, with the loan proceeds being for the purpose of financing certain water system improvements (Alternate Water Supply Projects); approving and authorizing a Financial Assistance Program (FAP) loan from the Oklahoma Water Resources Board in the total aggregate principal amount of not to exceed $50 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 $50 million; secured by a pledge of revenues and authorizing its execution; approving and authorizing the execution of a loan agreement for Financing Assistance program (FAP) 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

June 19, 2023

On agenda

June 27, 2023