Consideration and action upon Resolution of the City of Lawton, Oklahoma (the “City”) authorizing and approving the incurring of indebtedness by the trustees of the Lawton Water Authority (herein the “Authority”) to be accomplished by the issuance of its Utilities Revenue Note, Series 2023 or other evidences of indebtedness in one or more series on a tax-exempt or taxable basis, at a premium or discount, in the aggregate principal par amount of not to exceed Two Million, Nine Hundred Eighty-Five Thousand Dollars ($2,985,000) (herein the “Note”) for the purpose of financing all or a portion of the cost of the acquisition and improving of certain capital improvements in the operation of the water system that provides recreational benefit to the citizens of the City; and pay costs of issuance related thereto; providing that the organizational document creating the Authority is subject to the provisions of the Indenture authorizing the issuance of said Note; approving the award of the sale of said Note on a negotiated basis, approving the waiver of competitive bidding with respect to the sale of said Note; and all matters related thereto, including execution of all related documents thereto; and declaring an emergency.

Committee

City Council

Introduced

October 17, 2023

On agenda

October 24, 2023