Addendum to Monday’s City Commission Meeting

City of Drumright

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

1-A         AGENDA ITEM

City of Drumright

Monday, November 9, 2020

               CONSIDER AND TAKE ACTION WITH RESPECT TO A RESOLUTION OF THE CITY OF DRUMRIGHT, OKLAHOMA (THE “CITY”) APPROVING THE INCURRENCE OF INDEBTEDNESS BY THE DRUMRIGHT GAS AUTHORITY (THE “AUTHORITY”) ISSUING ITS GAS SYSTEM REVENUE NOTE, SERIES 2020 (THE “NOTE”); PROVIDING THAT THE ORGANIZATIONAL DOCUMENT CREATING THE AUTHORITY IS SUBJECT TO THE PROVISIONS OF THE INDENTURE AUTHORIZING THE ISSUANCE OF SAID NOTE; WAIVING COMPETITIVE BIDDING WITH RESPECT TO THE SALE OF SAID NOTE AND APPROVING THE PROCEEDINGS OF THE AUTHORITY PERTAINING TO THE SALE OF SAID NOTE; RATIFYING AND CONFIRMING A LEASE AGREEMENT AND OPERATION AND MAINTENANCE CONTRACT PERTAINING TO THE LEASING OF THE GAS DISTRIBUTION SYSTEM; ESTABLISHING THE CITY’S REASONABLE EXPECTATION WITH RESPECT TO THE ISSUANCE OF TAX-EXEMPT OBLIGATIONS BY OR ON BEHALF OF SAID CITY IN CALENDAR YEAR 2020, AND DESIGNATING THE NOTE AS A QUALIFIED TAX-EXEMPT OBLIGATION; AND CONTAINING OTHER PROVISIONS RELATING THERETO.

Posted by Mark Whinnery on November 6th, 2020 at 4:11 p.m.

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