24-1941
Consideration and action upon a resolution authorizing and approving the incurring of indebtedness by the Lawton Water Authority (herein the “Authority”) to be accomplished by the issuance of its Line of Credit Note, Series 2024C 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 Ten Million Dollars ($10,000,000) (the “Note”) for the purpose of securing funding for the closure and post-closure cost estimates regarding the statutory required financial assurance mechanism for the City of Lawton’s landfill facilities as required by the Oklahoma Department of Environmental Quality, said facilities being part of the “Utility Systems” of the Authority within the City of Lawton, Oklahoma (the “City”); and pay costs of issuance related thereto; approving the award of the sale of said Note on a negotiated basis, waiving competitive bidding in regard to the sale of said Note; approving and authorizing a Sales Tax Agreement (the “Sales Tax Agreement”) by and between the City and the Authority pertaining to a year-to-year pledge of certain sales tax revenues; approving and authorizing execution of a Line of Credit Agreement (the “Line of Credit Agreement”); a loan agreement; a security agreement, a note purchase agreement, and any other documents related to this transaction; approving disbursements of the proceeds of the Note; authorizing and directing the execution of the Note and other documents relating to the transaction; authorizing the issuance and securing the payment of the Note; approving and authorizing officers of the Authority to take action and execute all related instruments and documents to effect said issuance and containing other provisions relating thereto; and the taking of other action with respect thereto.
- Committee
- Lawton Water Authority
- Introduced
- September 13, 2024
- On agenda
- September 24, 2024