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Consider and take action with respect to resolution No. 2025-____ of the Lawton Water Authority (the "Borrower") authorizing to file applications with the Oklahoma Water Resources Board for financial assistance for the purpose of financing certain capital improvements to certain water system improvements including, but not limited to lake and dam repairs; approving and authorizing the issuance, sale and delivery of a promissory note or notes in one or more series of the Authority to the Oklahoma Water Resources Board in the total aggregate principal amount of not to exceed $39 million; approving the issuance of a promissory note or notes in one or more series in the total aggregate principal amount of not to exceed $39 million, secured by a pledge of revenues and authorizing its execution; approving and authorizing the execution of a loan agreement for CWSRF loan; designating a local trustee and approving and authorizing the execution of a trust agreement; approving and authorizing the execution of a security agreement; ratifying and confirming a lease agreement, as amended pertaining to certain water, sanitary sewer, and refuse systems; approving various covenants; approving and authorizing the establishment of a project costs disbursement account; and containing other provisions relating thereto.
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INITIATOR: John Ratliff, City Manager
STAFF INFORMATION SOURCE: John Andrew, City Attorney; Rebecca Johnson, Finance Director; Rusty Whisenhunt, Director of Public Utilities
BACKGROUND: During the months of May and June of 2015 the City of Lawton received unusually heavy rainfall. The heavy rainfall events caused extensive damages to several sections of the Ellsworth Spillway. CH2M Hill/Jacobs Engineering was contracted to investigate and design necessary repairs in order to restore the spillway to pre-damage functionality. On September 13th 2016, the City Council approved Amendment No. 5,6,7,8 and 10 with CH2M Hill/Jacobs Engineering for...
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