BOARD OF SHAWNEE MUNICIPAL AUTHORITY
CITY OF SHAWNEE
SPECIAL CALLED SESSION
DECEMBER 8, 2011
The Shawnee Municipal Authority Board of Trustees met in Special Called Session at the City Commission Chambers at City Hall, 16 West 9th Street, Shawnee, Oklahoma, Thursday, December 8, 2011 at 7:30 a.m., pursuant to notice duly posted as prescribed by law. Chairman Peterson presided and called the meeting to order. Upon roll call, the following members were in attendance.
Linda Peterson
Chairman
Pam Stephens Frank Sims
Trustee Ward 1 Trustee Ward 2
James Harrod Billy Collier
Trustee Ward 3 Trustee Ward 4
John Winterringer Absent
Trustee Ward 5 Trustee Ward 6
Trustee(s) absent: Steve Smith
Others in attendance were City Clerk Phyllis Loftis, Finance Director/Treasurer Cynthia Sementelli, City Attorney Mary Ann Karns, Justin Erickson and James Bryce. The media was represented by Kory Oswald, Shawnee News Star.
The Call for said meeting was entered upon the records by the City Clerk, said Call being as follows:
NOTICE OF A CALLED SPECIAL SESSION OF THE BOARD OF THE SHAWNEE MUNICIPAL AUTHORITY OF THE CITY OF SHAWNEE, OKLAHOMA
TO THE CITY COMMISSION OF THE CITY OF SHAWNEE, OKLAHOMA:
You and each of you are hereby notified that by virtue of a call issued by me on this 6th day of December, 2011, a Special Called Session will be held of the Board of the Shawnee Municipal Authority of the City of Shawnee, Oklahoma at the City Commission Chambers at City Hall, 16 West 9th Street, Shawnee, Oklahoma at 7:30 a.m. on December 8, 2011, and you are hereby notified to be present at said meeting.
The purpose of the following special call session of the Trustees will be to consider and take action with respect to a resolution authorizing the Shawnee Municipal Authority (the “Authority”) to issue its (i) Sales Tax Revenue Note, Series 2011a in the aggregate principal amount of $1,480,000.00 (the “2011a note”), and (ii) Sales Tax Revenue Note, taxable series 2011b in the aggregate principal amount of $2,365,000.00 (the “2011b note”, and together with the 2011a note, the “notes”); waiving competitive bidding and authorizing the notes to be sold on a negotiated basis; approving and authorizing execution of a sales tax agreement by and between the City of Shawnee, Oklahoma (the “City”) and the authority pertaining to a year-to-year pledge of certain sales tax revenue; approving and authorizing execution of a note indenture authorizing the issuance and securing the payment of the notes; providing that the organizational document creating the authority is subject to the provisions of the note indenture; authorizing and directing the execution of the notes and other documents relating to the transaction; establishing the authority’s reasonable expectation with respect to the issuance of tax-exempt obligations by the authority in calendar year 2011, and designating the 2011a note as a qualified tax-exempt obligation; and containing other provisions relating thereto.
(SEAL)
ATTEST:
s/s Phyllis Loftis s/s Brian McDougal
PHYLLIS LOFTIS BRIAN MCDOUGAL
CITY CLERK CITY MANAGER
STATE OF OKLAHOMA, COUNTY OF POTTAWATOMIE, SS.
I received this notice on the 6th day of December, 2011 at 4:15 o’clock p.m., and executed the same by delivering a true and correct copy thereof to each of the Trustees of the Shawnee Municipal Authority, City of Shawnee, Oklahoma as follows:
I delivered a true and correct copy to Chairman Linda Peterson
via e-mail at 6:08 o’clock p.m. on December 6, 2011
I delivered a true and correct copy to Trustee Frank Sims
via e-mail at 5:46 o’clock p.m. on December 6, 2011
I delivered a true and correct copy to Trustee John Winterringer
via e-mail at 6:30 o’clock a.m. on December 8, 2011
I delivered a true and correct copy to Trustee Steve Smith
via e-mail at 5:54 o’clock a.m. on December 7, 2011
I delivered a true and correct copy to Trustee James Harrod
via e-mail at 4:15 o’clock p.m. on December 6, 2011 but no response was received
I delivered a true and correct copy to Trustee Pam Stephens
via e-mail at 4:15 o’clock p.m. on December 6, 2011 but no response was received
I delivered a true and correct copy to Trustee Billy Collier
via e-mail at 4:16 o’clock p.m. on December 6, 2011
s/s Phyllis Loftis City Clerk
CALL FOR SPECIAL SESSION OF THE SHAWNEE MUNICIPAL AUTHORITY BOARD OF THE CITY OF SHAWNEE, OKLAHOMA TO BE HELD ON THE 8TH DAY OF DECEMBER, 2011 AT 7:30 O’CLOCK A.M. AT THE CITY COMMISSION CHAMBERS AT CITY HALL, 16 WEST 9TH STREET, SHAWNEE, OKLAHOMA. THE PURPOSE OF SAID MEETING WILL BE CONSIDER AND TAKE ACTION WITH RESPECT TO A RESOLUTION AUTHORIZING THE SHAWNEE MUNICIPAL AUTHORITY (THE “AUTHORITY”) TO ISSUE ITS (I) SALES TAX REVENUE NOTE, SERIES 2011A IN THE AGGREGATE PRINCIPAL AMOUNT OF $1,480,000.00 (THE “2011A NOTE”), AND (II) SALES TAX REVENUE NOTE, TAXABLE SERIES 2011B IN THE AGGREGATE PRINCIPAL AMOUNT OF $2,365,000.00 (THE “2011B NOTE”, AND TOGETHER WITH THE 2011A NOTE, THE “NOTES”); WAIVING COMPETITIVE BIDDING AND AUTHORIZING THE NOTES TO BE SOLD ON A NEGOTIATED BASIS; APPROVING AND AUTHORIZING EXECUTION OF A SALES TAX AGREEMENT BY AND BETWEEN THE CITY OF SHAWNEE, OKLAHOMA (THE “CITY”) AND THE AUTHORITY PERTAINING TO A YEAR-TO-YEAR PLEDGE OF CERTAIN SALES TAX REVENUE; APPROVING AND AUTHORIZING EXECUTION OF A NOTE INDENTURE AUTHORIZING THE ISSUANCE AND SECURING THE PAYMENT OF THE NOTES; PROVIDING THAT THE ORGANIZATIONAL DOCUMENT CREATING THE AUTHORITY IS SUBJECT TO THE PROVISIONS OF THE NOTE INDENTURE; AUTHORIZING AND DIRECTING THE EXECUTION OF THE NOTES AND OTHER DOCUMENTS RELATING TO THE TRANSACTION; ESTABLISHING THE AUTHORITY’S REASONABLE EXPECTATION WITH RESPECT TO THE ISSUANCE OF TAX-EXEMPT OBLIGATIONS BY THE AUTHORITY IN CALENDAR YEAR 2011, AND DESIGNATING THE 2011A NOTE AS A QUALIFIED TAX-EXEMPT OBLIGATION; AND CONTAINING OTHER PROVISIONS RELATING THERETO.
By virtue of the authority vested in me by Section 4, Article IV of the Charter of the City of Shawnee, Oklahoma, a Special Session of the Shawnee Municipal Authority Board of the City of Shawnee, Oklahoma is hereby called to meet at the City Commission Chambers at City Hall, 16 West 9th Street, Shawnee, Oklahoma at 7:30 a.m. on December 8, 2011 for the purpose of said meeting will be consider and take action with respect to a resolution authorizing the Shawnee Municipal Authority (the "Authority") to issue its (i) Sales Tax Revenue note, series 2011a in the aggregate principal amount of $1,480,000.00 (the "2011a note"), and (ii) sales tax revenue note, taxable series 2011b in the aggregate principal amount of $2,365,000.00 (the "2011b note", and together with the 2011a note, the "notes"); waiving competitive bidding and authorizing the notes to be sold on a negotiated basis; approving and authorizing execution of a sales tax agreement by and between the City of Shawnee, Oklahoma (the "city") and the authority pertaining to a year-to-year pledge of certain sales tax revenue; approving and authorizing execution of a note indenture authorizing the issuance and securing the payment of the notes; providing that the organizational document creating the authority is subject to the provisions of the note indenture; authorizing and directing the execution of the notes and other documents relating to the transaction; establishing the authority's reasonable expectation with respect to the issuance of tax-exempt obligations by the authority in calendar year 2011, and designating the 20lla note as a qualified tax-exempt obligation; and containing other provisions relating thereto.
Witness my hand this 6th day of December, 2011.
s/s Brian McDougal
BRIAN MCDOUGAL
CITY MANAGER
(SEAL)
ATTEST:
s/s Phyllis Loftis
PHYLLIS LOFTIS, CITY CLERK
CALL TO ORDER:
DECLARATION OF A QUORUM
Roll was called with six Trustees present and a quorum was declared.
AGENDA ITEM NO. 1: CONSIDER AND TAKE ACTION WITH RESPECT TO A RESOLUTION AUTHORIZING THE SHAWNEE MUNICIPAL AUTHORITY (THE “AUTHORITY”) TO ISSUE ITS (I) SALES TAX REVENUE NOTE, SERIES 2011A IN THE AGGREGATE PRINCIPAL AMOUNT OF $1,480,000.00 (THE “2011A NOTE”), AND (II) SALES TAX REVENUE NOTE, TAXABLE SERIES 2011B IN THE AGGREGATE PRINCIPAL AMOUNT OF $2,365,000.00 (THE “2011B NOTE”, AND TOGETHER WITH THE 2011A NOTE, THE “NOTES”); WAIVING COMPETITIVE BIDDING AND AUTHORIZING THE NOTES TO BE SOLD ON A NEGOTIATED BASIS; APPROVING AND AUTHORIZING EXECUTION OF A SALES TAX AGREEMENT BY AND BETWEEN THE CITY OF SHAWNEE, OKLAHOMA (THE “CITY”) AND THE AUTHORITY PERTAINING TO A YEAR-TO-YEAR PLEDGE OF CERTAIN SALES TAX REVENUE; APPROVING AND AUTHORIZING EXECUTION OF A NOTE INDENTURE AUTHORIZING THE ISSUANCE AND SECURING THE PAYMENT OF THE NOTES; PROVIDING THAT THE ORGANIZATIONAL DOCUMENT CREATING THE AUTHORITY IS SUBJECT TO THE PROVISIONS OF THE NOTE INDENTURE; AUTHORIZING AND DIRECTING THE EXECUTION OF THE NOTES AND OTHER DOCUMENTS RELATING TO THE TRANSACTION; ESTABLISHING THE AUTHORITY’S REASONABLE EXPECTATION WITH RESPECT TO THE ISSUANCE OF TAX-EXEMPT OBLIGATIONS BY THE AUTHORITY IN CALENDAR YEAR 2011, AND DESIGNATING THE 2011A NOTE AS A QUALIFIED TAX-EXEMPT OBLIGATION; AND CONTAINING OTHER PROVISIONS RELATING THERETO.
A motion was made by Trustee Harrod, seconded by Trustee Sims, to approve the resolution authorizing the Shawnee Municipal Authority (the “Authority”) to issue its (I) Sales Tax Revenue note, Series 2011A in the aggregate principal amount of $1,480,000.00 (the “2011A note”), and (II) Sales Tax Revenue Note, Taxable Series 2011B in the aggregate principal amount of $2,365,000.00 (the “2011B note”, and together with the 2011A note, the “Notes”); waiving competitive bidding and authorizing the notes to be sold on a negotiated basis; approving and authorizing execution of a sales tax agreement by and between the City of Shawnee, Oklahoma (the “City”) and the Authority pertaining to a year-to-year pledge of certain sales tax revenue; approving and authorizing execution of a note indenture authorizing the issuance and securing the payment of the notes; providing that the organizational document creating the Authority is subject to the provisions of the note indenture; authorizing and directing the execution of the notes and other documents relating to the transaction; establishing the Authority’s reasonable expectation with respect to the issuance of tax-exempt obligations by the Authority in calendar year 2011, and designating the 2011A note as a qualified tax-exempt obligation; and containing other provisions relating thereto.
Resolution No. SMA-2011-01 was read into the record by Chairman Peterson.
Motion carried 6-0.
There being no further business to come before the meeting, a motion was made by Commissioner Harrod, seconded by Commissioner Winterringer, that the meeting be adjourned. Motion carried 6-0. (7:38 a.m..)
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