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THE BOARD OF COUNTY COMMISSIONERS OF TULSA COUNTY, OKLAHOMA, MET IN REGULAR SESSION IN ROOM 119 OF THE TULSA COUNTY ADMINISTRATION BUILDING, 500 SOUTH DENVER, TULSA, OKLAHOMA, ON THE 23RD DAY OF MAY, 2016 AT 9:30 O'CLOCK A.M.
PRESENT:
ABSENT:
Notice of the regular meetings of the Board of County Commissioners for calendar year 2016 having been given in writing to the County Clerk of Tulsa County, Oklahoma, public notice and agenda of this meeting having been posted in prominent view at the Tulsa County Administration Building, Tulsa, Oklahoma, twenty-four (24) hours prior to this meeting, excluding Saturdays, Sunday and legal holidays, all in compliance with the Oklahoma Open Meeting Act.
(OTHER PROCEEDINGS)
THEREUPON, Trustee introduced and moved passage of a Resolution which was read in
full by the Clerk and considered by sections. Upon motion of Trustee , the Resolution was finally passed with the following vote:
AYE:
NAY:
The Resolution was thereupon signed by the Chairman and attested and sealed with the seal of the County by the County Clerk and is as follows:
2 RESOLUTION
A RESOLUTION RELATING TO THE INCURRING OF INDEBTEDNESS BY THE TRUSTEES OF THE TULSA COUNTY INDUSTRIAL AUTHORITY; WAIVING COMPETITIVE BIDDING AND AUTHORIZING AND APPROVING SUCH DOCUMENTS AS MAY BE NECESSARY OR REQUIRED.
WHEREAS, the Trustees of the Tulsa County Industrial Authority (the "Authority") have
determined to incur indebtedness in the aggregate amount of not to exceed $241,200.00 evidenced by the "State Energy Program American Recovery and Reinvestment Act Revolving Loan Program Promissory Note”, (the “Note”) with interest at the rates set forth therein for the purpose of providing funds for the purpose of replacing and purchasing certain equipment, to generate energy savings, at O’Brien Park Recreation Center, for use by Tulsa County, Oklahoma; and
WHEREAS, Indian Nations Council of Governments (the “Lender”) has offered to purchase the
Note pursuant to a Loan Agreement by and between the Authority, Bank of Oklahoma, National Association, as Trustee, and the Lender and the Authority has determined to waive competitive bidding and sell the Note to the Lender; and
WHEREAS, there has been presented to this meeting the form of Projects Agreement by and
between the Authority and the Board of County Commissioners of Tulsa County (the “Projects Agreement”) pursuant to the provision of which the Authority has agreed to issue the Note and the County has agreed, subject to the restrictions set forth in the Project Agreement to make payments to the Authority in an amount sufficient for the payment of any debt service on any indebtedness incurred by or on behalf of Tulsa County by the Authority, including the Note; and
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF TULSA COUNTY, OKLAHOMA:
Section 1. The incurring of indebtedness by the Trustees of the Tulsa County Industrial Authority
in the aggregate principal amount of not to exceed $241,200.00 to be evidenced by the Note of the Authority is hereby approved by the Board of County Commissioners of Tulsa County, Oklahoma, the governing body of said County.
Section 2. Competitive bidding is hereby specifically waived with respect to the issuance and sale
of the Note and the issuance and sale of such Note to the Lender for a for a purchase price of par, with the term or terms of the Note not exceeding fifteen (15) years with an average interest rate thereon not to exceed 1.0% per annum, is hereby specifically approved.
Section 3. The form of Projects Agreement presented to this meeting be, and the same hereby are,
approved, and the Chairman or Vice Chairman of the Board and the County Clerk or any Deputy County Clerk of the County be, and they hereby are, authorized, directed and empowered to execute and deliver in the name and on behalf of the County, the Projects Agreement, in said form and containing substantially the terms and provisions therein contained, with such additions or modifications as shall be approved by the officers executing the Projects Agreement, the execution thereof by such officers being conclusive evidence of such approval, and to execute and deliver in the name and on behalf of the County all documents, certificates and such other documents as are necessary to accomplish the issuance and delivery of the Note.
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Section 4. The signatures of the officers of the County appearing on the Projects Agreement, and
other agreements, documents and certificates executed and delivered pursuant to this Resolution shall be conclusive evidence of their approval of the changes, if any, in the form thereof and of their authority to execute and deliver such agreements and documents on behalf of the County.
Section 5. The Chairman or Vice Chairman of the Board and the County Clerk or any Deputy
County Clerk of the County be, and they hereby are, authorized and empowered for and on behalf of the Authority, to execute and deliver such further agreements and documents and to take such action as such officer or officers may deem necessary or desirable in order to carry out and perform the Projects Agreement, as the same may be amended, and to effect the purposes thereof and to consummate the transactions contemplated by the Projects Agreement and by the issuance and delivery of the Note.
ADOPTED this 23rd day of May, 2016.
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ATTEST: Chairman
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County Clerk
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STATE OF OKLAHOMA )
) ss.
COUNTY OF TULSA )
I hereby certify that a true and complete copy of the Public Notice, attached hereto as Exhibit "A", was posted in prominent public view at the Tulsa County Administration Building, 500 South Denver, Tulsa, Oklahoma, twenty-four (24) hours prior to the date of the meeting therein described, excluding Saturdays, Sundays and legal holidays. I further certify that a true, correct and complete copy of the schedule of regularly scheduled meetings of the Board of County Commissioners for calendar year 2016 was filed in the office of the County Clerk of Tulsa County, Oklahoma, as proscribed by law.
WITNESS my hand and seal this 23rd day of May, 2016.
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County Clerk
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AGENDA ITEM FOR THE MEETING
OF THE BOARD OF COUNTY COMMISSIONERS May 23, 2016
CONSIDER AND ADOPT A RESOLUTION RELATING TO THE INCURRING OF INDEBTEDNESS BY THE TRUSTEES OF THE TULSA COUNTY INDUSTRIAL AUTHORITY; WAIVING COMPETITIVE BIDDING AND AUTHORIZING AND APPROVING SUCH DOCUMENTS AS MAY BE NECESSARY OR REQUIRED.
