Addendums to Monday’s DGA Agenda

City of Drumright

*************Addendum to Agenda dated 11/09/2020****************

1-A         AGENDA ITEM

Drumright Gas Authority

Monday, November 9, 2020

               CONSIDER AND TAKE ACTION WITH RESPECT TO A RESOLUTION AUTHORIZING THE DRUMRIGHT GAS AUTHORITY (THE “AUTHORITY”) TO ISSUE ITS GAS SYSTEM REVENUE NOTE, SERIES 2020 (THE “NOTE”) IN THE AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED $1,320,000; WAIVING COMPETITIVE BIDDING AND AUTHORIZING THE NOTE TO BE SOLD ON A NEGOTIATED BASIS; APPROVING AND AUTHORIZING EXECUTION OF A SERIES 2020 SUPPLEMENTAL INDENTURE AUTHORIZING THE ISSUANCE AND SECURING THE PAYMENT OF THE NOTE; PROVIDING THAT THE ORGANIZATIONAL DOCUMENT CREATING THE AUTHORITY IS SUBJECT TO THE PROVISIONS OF THE INDENTURE; RATIFYING AND CONFIRMING A LEASE AGREEMENT AND OPERATION AND MAINTENANCE CONTRACT PERTAINING TO THE LEASING OF THE GAS DISTRIBUTION SYSTEM; ESTABLISHING THE AUTHORITY’S REASONABLE EXPECTATION WITH RESPECT TO THE ISSUANCE OF TAX-EXEMPT OBLIGATIONS BY THE AUTHORITY IN CALENDAR YEAR 2020, AND DESIGNATING THE NOTE AS A QUALIFIED TAX-EXEMPT OBLIGATION; AUTHORIZING AND DIRECTING THE EXECUTION OF THE NOTE AND OTHER DOCUMENTS RELATING TO THE TRANSACTION, INCLUDING PROFESSIONAL SERVICES AGREEMENTS; AND CONTAINING OTHER PROVISIONS RELATING THERETO.

Posted by Mark Whinnery on November 6th, 2020 at 3:53 p.m.

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