City Council

SPECIAL MEETiNG NOTICE AND AGENDA Sand Springs City CounciI Februa「y 28, 2018 ‑ 5:OO p.m, Sand Sp血gs IVlunicipaI BuiIding lOO East Broadway ‑ Roon 203 Sand Springs, Oklahoma 74063 WW,Sandsp「inasok○○「a l. Ca= to O「der Time 3. Generai Obliaation Bonds. Series 2O18 A) Award ofBid to Se= Counc" may conside「 app「ovaI of the award of bid to se= $3,500,000.00, Cfty of Sand Springs, Okfahoma, Generai Ob噂ation Bonds, Series 2018, tO the lowest qua圃ed bidder. (P「esented by: Bond Counsei John Weidman) Motion Second B) O「dinance No. 1315 Councii may conside「 ado函On Of Ordinance No. 1315 p「oviding fo「 the issuance Of Gene「al ObIigation Bonds in the sum of Th「ee M冊on Five Hundred Thousand and no/100s doiia「s ($3,500,000.00) by the City of Sand S函ngs, OkIahona, authorized at an election duly ca=ed and heid fo「 SuCh purpose, P「eSCribing form Of Bonds; P「OViding fo「 registration the「eof; ProViding for a system of 「egistration fo「 unce醐Cated registe「ed pubIic obIigatiens; P「OViding levy of an annua=ax fo「 Payment Of principaI and inte「est on the same; fixing othe「 detaiis of the issue; and declanng an emergency. (P「esented by: Bond Counsel John Weidman) Motion Second  C3A THE CITY COUNCIL OF THE CITY OF SAND SPRINGS, STATE OF OKLAHOMA, MET IN SPECIAL SESSION IN THE COUNCIL CHAMBERS AT THE CITY HALL, 100 E. BROADWAY STREET, IN SAID CITY ON THE 28TH DAY OF FEBRUARY, 2018,AT 5:00O CLOCKP.M. PRESENT: ABSENT: Notice of this special meeting having been given in wI那ng to the City Clerk of the City of Sand Springs, Oklahoma at least forty eight (48) hqurs prior to瞬如meeting, and public notice and agenda was posted in prominent public view謎the City Hall, 1敬) E. Broadway Street in said City at least twenty‑four (24) hours prior to也is meeting, eXCluding S的urdays, Sundays and legal holidays, all in compliance with the Oklchoma Open Meeting Act. (OTHER PROCEEDINGS) It appearing that due and legal n(面ce had been given that the City of Sand Springs, Oklahoma, WOuld offer for sale on this date and at this hour and at this place its $3,500,000.00 0f General Obligation Bonds, Series 2018, m如uring $170,000.00 in two years from their date and $185,000.00 amually each year thereafter叫til paid, the goveming body of the City proceeded to consider the bids received for the purchase of said Bonds. The fo11owing bids were received and considered by the goveming body of the City: TRU雷、 駐珊REST RATE BID bonds were awarded, S。Id㍉狐d delivered to City Clerk, City of Sand Springs, Oklahoma (SEAL)  I the undersigned the duly qua皿ed and acting Clerk of the City of Sand Springs, Oklahoma hereby certify that the foregoing is a tme and complete copy ofthe proceedings ofthe goveming body of said City at the time bids were reviewed and considered for the sale of its general obligation bonds, taken at a regular meeting thereof duly held on the date therein set out, as血e same appears ofrecord in my o縦ce. I further certify that attached hereto as Exhibit A is a true and complete copy of the Public notice and agenda of this Special meeting which was gi凋狐in writing to the Sand Springs City Clerk at least forty eight (48) hours prior to said mec飽ng and which was posted in P「Ominent public view at the City Ha=, 100 E. Broadway Street in said City at least twenty‑four (24) hours prior to the date of the meeting therein desc正bed, exCluding Saturdays, Sundays and legal holidays, all in compliance with the Oklahoma Open Meeting Act. WITNESS my hand and seal this 28th day ofFebruary, 201 8. City Clerk, City of S狐血Springs, Oklahoma (SEAL)  C3B THE CITY COUNCIL OF THE CITY OF SAND SPRINGS) STATE OF OKLAHOMA, MET量N SPECIAL SESSION IN THE COUNCIL CHAMBERS AT THE CITY HALL, 100 E. BROADWAY STREETI IN SAID CITY ON THE 28TH DAY OF FEBRUARY 2018,AT 5:00O CLOCKP.M. PRESENT: ABSENT: Notice of this special meeting having been given in writing to the City Clerk of the City Of Sand Springs, Oklahoma at least forty eight (48) hours prior to such meeting, and public notice and agenda was posted in prominent public view at the City Hall, 100 E. Broadway Street in said City at least twenty」e皿(24) hours prior to this meeting, eXCluding Saturdays, Sundays and legal holidays, all in compliance with the Oklahoma Open Meeting Act. (OTHER PROCEED賞NGS) THEREUPON, an Ordinance ¥was i血Oduced which was read in餌I by the Council Secretary and considered by sections. Upon motion by the Ordin糾1Ce WaS finally passed with the following vote: question of the emergency w鵜ruled閏的n separately and approved by the following vote. AYE: NAY: THEREUPON, the Ordinance was signed by血e Chairman of the Council, forwarded to the Mayor by the City Clerk, Signed by the Mayor, atteSted by the Clerk, Sealed with the seal of Said municipality and is as fo11ows:  ORDINANCE NUMBER 1315 AN ORD量NANCE PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION BONDS IN THE SUM OF THREE MILLION FIVE HUNDRED THOUSAND AND NOIlOOS DOLLARS ($3,500,000.00) BY THE CITY OF SANB SPR宣NGS, OKLAHOMA AUTHORIZED AT AN ELECT暮ON DULY CALLED AND HELD FOR SUCH PURPOSE; PRESCRIBING FORM OF BONDS; PROV暮DING FOR REGISTRATION THEREOF; PROVIDING FOR A SYSTEM OF REGISTRATION FOR UNCERTIFICATED REGISTERED PUBL量C OBLIGATIONS; PROVIDING LEVY OF AN ANNUAL TAX FOR PAYMENT OF PRINCIPAL AND INTEREST ON THE SAME; FIXING OTHER DETAILS OF THE ISSUE; AND DECLARING AN EMERGENCY. WHEREAS, On the 14th day ofNovember, 2018, Pursuant tO nOtice duly given, an election was held in the City of Sand Springs, State of Oklahoma, for the purpose of submitting to the registered, qualified electors of said City the question of the issuance of the bonds of said City in the fo賞lowing amour畑: $3,505,000.00 of General Obligation Bonds by the City of Sand Springs, Oklahoma, tO provide funds (either with or without state or federal aid) for the purpose of acquiring, constructing, reconstruCting, eXt銅ding, enlarging, improving and repairing streets within said City ofSand S坪ings, Oklahoma, aS authorized by Section 27, Article X ofthe Constit融on狐d Statutes of the State of Oklahoma, and acts complementary, s岬Plementary md enacted pursuant thereto; and $2,270,000.00 of General Oblig8航on Bonds by the City of Sand Springs, Oklahoma, tO provide funds (either with or without state or federal aid) for the purpose of purchasing and installing public safety equipment and software all to be owned exclusively by said City of Sand Springs, Oklahoma, aS authorized by Section 27, A面cle X of the Constitution and Statutes of the State of Oklahoma, and acts complementary, SuPPlementary and enacted PurSuant thereto; md $3,765,000.00 ofGeneral Obligation Bonds by the City of Sand Springs, Oklahoma, tO provide funds (either with or without state or federa喜aid) for the purpose of purchasing, constructing, equipping, improving, eXtending, renOVating, rePa誼ng and beautif)′ing public parks and park lands Cultural and recreation facilities, all to be owned exclusively by said City ofSand Springs, Oklahoma aS authorized by Section 27・ A正cle X ofthe Constitution and Statutes of the State of Oklahoma, and acts complementary, suppIementary and enacted pursuant thereto; and 15001011  $2,625,000.00 of General Obligation Bonds by the City of Sand Springs, Oklahoma, tO PrOVide funds (either with or without state or federal aid) for the purpose of constructing, renovating, rePairing and improving m皿icipal buildings and facilities, and to purchase and install equipment, hardware and software, all to be owned exclusively by said City of Sand Springs, Oklahoma, aS au皿orized by Section 27, Article X of the Constitution and Statutes Of the State of Oklahoma, and acts complementary, SuPPlementary and enacted pursuant thereto; and WHEREAS, aS Shown by the canvass of the retums by the County Election Board of Tu宣sa County, Oklahoma, at Said November 14, 201 8 election there w敬e CaSt by the registered, qualified electors of said City: On the question ofthe issunce ofsaid魂reets bonds, 1,550 votes, Ofwhich l,080 Were in favor ofand 470 were cast againstthe issuance ofsaid bonds, and O were mutilated, SPOiled or not voted ballots; On the question ofthe issuancp ofsaid pub耽safety bonds 1, 552 votes, Ofwhich lO35 were in favor ofand 517 were t}aSt against the i謡uance ofsaid bonds, and O were mutilated, SPOiled or not voted ba11ots; On the question ofuhe issuance ofsaid publie p箪ks bonds, 1555 votes, Ofwhich 972 were in favor ofand 583 were¥Cast against the issuance ofsaid bonds, and O were mutilated, SPOiled or not vot9d哩lots; On the qu鯛tion of the issuance of said inunicipal facilities bonds, 1 479 votes, Of Which 918 were inぬvor ofan sel Were cast against the issuance ofsaid bonds, and O Were mut地ed, SPOiied ol nOt VOted̀ballots. WHEREAS, a lawful ma3鴫of the registered, qualified electors voting on each of said Propositions cast their ballot潰n favor of the issuance of all of said bonds and the issuance thereof has been duly authorized; and ¥ WHEREAS, the City of Sand Springs, Oklahoma has not previously issued general Obligation bonds for any of血e above propositions. WHEREAS, The Council ofthe City of Sand Springs, Oklahoma, PurSuant tO Title 62, Oklahoma Statutes 201 1, Section 354, desires to issue at this time $3,500,000.00 in General Obligation Bonds consisting of a combined issuance of $665,000.00 bonds for the purpose of acqulnng, COnStruCting, reCOnStmCting, eXtending, enlarging, improving and repairing streets within said City of Sand Springs, Oklahoma; $2,130,000.00 for the purpose ofpurchasing and insta11ing public safety equipment and software all to be owned exclusively by said City of Sand Springs, Oklahoma; $3 85,000.00 for the puapose of purchasing, COnStruCting, equipping, improving, eXtending, renOVating, rePairing and beaut吟「ing public parks and park lands, Cultural and recreation facilities, a11 to be owned exclusively by said City of Sand Springs, Oklahoma; 3 and $320,000.00 for the purpose of constructing, renOVating, rePairing and improving municipal buildings and facilities, and to purchase and install equipment, hardware and software, a宣l to be OWned exclusively by said City of Sand Springs, Oklahoma. BE IT ORDA量NED BY THE COUNCIL OF THE CITY OF SAND SPRINGS, OKLAHOMA : SECTION l. That there are hereby ordered and directed to be issued the bonds ofsaid City, in accordance with the fom as hereinafter set out, in the aggrega矩amount of Three Million Five Hundred Thousand and No/100s Dollars ($3,500,000.00), vy融ch Bonds sha11 be designated General Obligation Bonds, Series 2018 (the Bond&蔦shall be dated Apri1 1 , 2018, and shall become due and payable and sha11 bear interest from砥eir d薙until paid as follows: Matu ring Princip al Interest ADri1 1 Amount %%%/%%%%%燭%%%%%%%%%% 2020 $170,000.00 2021 $185,000.00 2022 $1 85,000.00 2023 $1 85,OqO・00 2024 $ 1 85,000.00 2025 $1 85,000.00 2026 $ 1 85,000.QO 2027 一‑ $185,000,00 2028 $宣§5,000・00 2029 $185,000.00 2030 $185,000.00 2031 $18㌔OqO.00 2032 $1 85,の00.00 20ま3 $ 1 85,000̲00 2034 $185,000.00 2035 $軍85,000,00 2036 $重85,000,00 2037 、、 $185,000.00 2038 ‑音( $185,000.00 Interest shau be pay劇e semi‑annua11y on the first day of April and October of each year, COmmenCing on Apri1 1, 2019. The Bonds are issuable as registered Bonds in denominations of $ l ,000.00 or any whole multiple thereof The Bonds maturing in the years 2020 through 2026, inclusive, Sha11 not be subject to redemption prior to maturity: The Bonds maturing in the years 2027 and thereafter sha11 be Subject to redemption at the option ofthe City, in whole or in part, in inverse order ofmaturity and by lot within a maturity, On any date on or after Apri看l, 20 26, at the principal amount thereof plus accrued interest to the date fixed for redemption. Notice of any such redemption shall be sent by registered or certified mai獲not less than 4 血irty (30) days nor more than sixty (60) days prior to the date fixed for redemption to the Registered Holder of each Bond to be redeemed at the address shown on the Registration Books Ofthe City maintained by the Registrar or at such other address as is fumished in writing by such Registered Holder to the Registrar. When so ca11ed for redemption, this Bond will cease to bear interest on the specified redemption date, PrOVided funds for redemption are on deposit at the Place ofpayment at that time, and shall not be deemed to be outstanding. SECTION 2. That each ofsaid Bonds and the endorsements謡曲certificates thereon shall be in substantially the fo11owing fom: Unless this Bond is presented by an authorized representative of The Depository Trust Company to the Registrar for registration of塞anSfer, eXChange or payment and any bond issued is registered in血e name ofCed唾蓮遵o., Or SuCh othername as requested by an authorized representative of The Depository Trust Company and any Payment is made to Cede & Co., ANY TRANSFER, PLEDGE OR OTHERUSE 認諾諾#三塁駕慧蓋蒸器‡認諾s, h。r。in. UNITED STAT聴OF AMER東鰻A No. OKLAHOMA $ CITY OF SAND SPRING母 Gene軸1 0bliga鈴on、Bond, Series 2018 KNOW ALL MEN BY THESE PRESE測TS: That the City of Sand Springs, Of Tulsa County, Oklahoma, hereby acknowledges itself or registered assigns, (hereinmfter called the Registered Holder ), for the bond number(S) set forth above, tOgether with interest thereon at the rate specified hereon, from the date hereof until Paid, Payable semi‑amually on the lst day ofApril, and the lst day ofOctober, reSPeCtively言n each year, begirming Apri1 1, 2019. The principal of and interest on this Bond are payable in lawful money of the United States ofAmerica which, at the time ofpayment, Sha11 be legal tender for the payment ofpublic and private debts. Payments ofinterest hereon shall be paid by check ofBOKF, National Association, Tulsa, Oklahoma (herein called the Bank ) payable to the order of血e Registered Holder and mailed to the address shown in the Registered Holder on or before the date on which each such payment is due. Payment ofprincipal ofthis Bond shall be payable only upon 3 surrender of this Bond to the Bank. THE FULL FAITH, CREDIT, AND RESOURCES ofsaid City are hereby irrevocably pledged to the payment ofthis Bond. THIS BOND is one ofan issue oflike date and tenor, eXCePt aS tO date ofmaturity, rate of interest, and denomination, tOtaling the principal sum of Three Million Five Hundred Thousand and No/1 00s Dollars ($3,500,000.00) consisting of a combined issuance of: $665,000.00 bonds for the purpose of acquiring, COnStruCting, reO関StruCting, eXtending, enlarging言mproving and repairing streets within said City of Sand Springs, Oklahoma; $2, 1 30,000.00 for the purpose of purchasing and installing public safdy equipment and software a= to be owned exclusively by said City ofSand Springs, Okl血oma; $3&5,000.00 for the PurPOSe Of purchasing, COnStruCting, equlPPmg, improv車g, eXtending, renovating, rePairing and beautify′ing public parks and park lands, Cultural and recreation facilities, a= to be owned exclusively by said City ofSand Springs, Oklahoma; and $320,000.00 for the purpose of constructing, renOVating, rePairing and improving municipal buildings and facilities, and to purchase and insta11 equipment, hardware and software, a11 to be owned exclusively by said City of Sand Springs, Oklahoma, a11 pursuant to Section 27, Article X ofthe Constitution and statutes of the State of Oklahoma, and acts complementary, SuPPlementary, and enacted pursuant thereto. No person sha= be entitled to any right or benefit provided in this Bond unless the name of such person is registered by the Bank as the Registrar of血e City on the Registration Record. This Bond shall be transf汝at)le only upon delivery ofthis Bond to the Registrar, duly endorsed or accompanied by a written instrument of trans舷in fom satisfactory to the Bank, duly executed by the Registered Holder hereof or his attomey duly au血orized in writing, and such transfer registered on the Registmtion Record, The Regis億櫨sha11 not be required to make such transfer after the珊eenth ( 1 5) day preceding my interest payment date (the ̀̀Record Date ), until after said latter date. The name ofthe Registered Holder endorsed hereon sha漢l be deemed the correct name ofthe owner ofthis Bond for all purposes whatsoever. The Registrar will keep the Registration Record open for registration of ownership of registered Bonds during its business hours. In the event ofa change ofRe由strar for any reason, nOtice thereofshall be mailed, by registered or certified United States Mail, POStage PrePaid, tO the Registered Holder at the address shown in the Registration Record, and such notice sha11 be effective on the date of mailing and su範cient as to all persons. Bonds ofthe issue ofwhich this Bond is one, maturing in the years 2020 through 2026, inclusive, ShaIl not be su勘ect to redemption prior to maturily Said Bonds maturing in the years 2027 and thereafter sha= be subject to redemption at the option ofthe City, in whole or in part, in inverse order ofmaturity and by lot within a maturity, On any date on or after Apri= 2026 at the principal amount thereof plus accrued interest to the date fixed for redemption. Notice ofany such redemption sha11 be sent by registered or certified mail not less than thirty (30) days nor more than sixty (60) days prior to the date fixed for redemption to the Registered Holder ofeach Bond to be redeemed at the address shown on the Registration Books ofthe City maintained by the Registrar or at such other address as is fumished in writing by 6 such Registered Holder to the Registrar. When so called for redemption.皿s Bond will cease to bear interest on the specified redemption date, ProVided funds for redemption are on deposit at the place ofpayment at that time and shall not be deemed to be outstanding. IT IS HER巴BY CERTIFIED AND RECITED that all acts, COnditions and things required to be done, PreCedent to and in the issuance ofthis Bond have been properly done, happened and been perfomed in regular and due fom and time as required by law, and that the tota=ndebtedness ofsaid City, including this Bond, and the series ofwhich it foms a part, does not exceed any constitutional or statutory limitation; and that due provision has been made for the collection ofan amual tax su鮒cient to pay the interest on this Bond as it fa11s due and also to constitute a sinking fund for the payment ofthe principal hereo at maturity. IN WITNESS WHEREOF, Said City has caused血is Bond to be 8igned by the Mayor, attested by its City Clerk, and sealed with the seal thereofthis I st day ofAp重il, 201 8. M種yor of (he City of Sand Springs, Crty Clerk, City of Sand Springs, OkIahoma (Se洲) AUTHENTIC▲TION CERTIFICATE This Bond is one ofthe Bonds ofthe issue described in the Transcript ofProceedings prepared for this Bond is即時, and is one ofthe General Obligation Bonds, Series 201 8, Ofthe City ofSa血Sp血統, O鵬血o帆 Date ofRegistration and Authenticarion. Autho「ized Officer (ENDORSEMENT NO. 1) Fom ofcertificate by the District Attomeys and County Clerks to be endorsed on each Bond. STATE OF OKLAHOMA ) ) ss. COUNTIES OF OSAGE, and TULSA ) We, the undersigned, District Attomeys and County Clerks, reSPeCtively, Of said Counties, 7 in said State, in which the within named City is situated, hereby certify that the within Bond is One Ofa series ofBonds issued by the within named City pursuant to law, and that the entire issue ofsaid Bonds is within the debt limit imposed upon said City by the Constitution and laws of the State of Oklahoma. WITNESS our respective o飾cial hands and the seals ofsaid Counties this Ist day of April, 201 8. Tulsa County Clerk (Seal) Osage County′ C獲erk (Scal) FO則M OF ASSIGNM圏NT The following abbreviations, When used in血e inscriptionon the face of皿s Bond, Shall be construed as though they wc鵬written out in fu‖ a∞Ording to applicable laws or regulations: TEN COM‑ aS tenantS in common TEN ENT一‑ 雌termtS by the entireties JT TEN‑ aS joint terrants with the right of survivorship 壷d not as tenants in common (Cust) (Minor) Gifts to Mino重S Act of Oklahoma Additional abbreviations may also be used though not in above list. AS SIGN MENT FOR VALUE RECEIVED, the undersigned hereby se11s, aSSigns and transfers unto (Please insert Social Security or Taxpayer identification number of assignee)̲ (Please Print or Typewrite Name and Address of Assignee) the within Bond, and all rights thereunder, and hereby does irrevocably constitute and appoint ̲ attomey to transfer the within Bond on the books kept for registration thereof; with fu11 power of Substitution in the premises. 8 (S ignature guaranty) NOTICE: The signature to this Legal Opinion (ENDORSEMENT NO. 2) Fom ofcertificate by the City Treasurer to be endorsed on each Bond. I, the undersigned, the duly qua獲ified and acting Treasurer ofthe within named City in said County′ and State, hereby certify that I have duly registered the within Bond in my o飾ce on this th day ofApril, 2018. WITNESS my hand the date above written. City Treasurer (ENDORSEMENT NO. 3) Certificate ofapproval by the Attomey General to be endorsed on each Bond.  SECTION 3. That each ofsaid Bonds shall be signed by the Mayor and the co坤orate Seal ofthe City a鮪xed thereto and attested by the City Clerk ofthe City; that such o飾cers be and hereby are authorized and directed to cause said Bonds to be prepared and to execute the Sane for and on behalfofthe City, have the same registered by the Treasurer, endorsed by the District Attomeys and County Clerks and presented to the Attomey General, Ex‑O飾cio Bond Commissioner, tOgether with a certified億anscript of all proceedings had in comection with their issue for his approval and endorsement; that thereafter said Bonds shall be delivered to the PurChaser upon payment of the purchase price thereof; which sha11 not be less than par and accrued interest. The proceeds derived from the sale ofsaid Bonds血a= be placed in a special fund and used solely for the purposes set out in the Bond in Seclion 2 hereof二 SECT事ON 4. Whenever any registered Bond or Bonds shall be exchanged for another registered Bond or Bonds of different denomination, the Registrar shall can∞l the Bond or Bonds surrendered in such exchange on the face thercofand on the Registration Record. Ifthe SuPPly of registered Bonds for making exchanges shall have been exhausted, the Registrar sha11 cause additional registered Bonds to be prepared, at the expense ofthe City. The Cfty covenants that upon request of the Registrar, its appropriate officers promptly wi11 execute such additional registered Bonds on behalf of the City・ SECTION 5. The Registrar for all registered Bonds issued pursuant to this Ordinance sha11 be BOKF. Nationa獲Association, Tul8a, Oklahoma, Which shall maintain a Registration Record for the purpose of registering the name and address ofthe Registered Holder of each registered Bond. The Registrar will keep the Registration Record open for registrations during its business hours.血血e event ofa change ofRegistrar, nOtice thereofshall be mailed, registered or certified United State Mail, POStage P鳩Paid, tO the Registered Holder of each registered Bond. The name and address ofthe Registered Holder as the same appear on the Registration Record sha看l be conclusive evidence to all persons and for a11 purposes whatsoever and no person other than the Registered Holder shown on the Registration Record sha= be entitled to any right or benefit in relation to the Bond so registered; PrOVided, that the foregoing shall not apply to any successor by operation of law ofsuch Registered Holder. Registered Bonds shall be transferable only upon delivery of such Bonds to the Registrar, duly endorsed or accompanied by a written instr心ment of transfer in fom satisfactory to the Registrar・ eXeCuted by the Registered Holder thereof or his attomey duly authorized in writing, and such transfer registered on the Registration Record. Ifthe Fom ofAssignment on such Bonds is exhausted such Registered Bonds delivered to the Registrar for registration of transfer sha11 be canceled by the Registrar on the face thereof and the Registrar shall authenticate and deliver to the transferee Bonds in aggregate principal amount equal to the unpaid principal of the surendered Bonds in new registered Bonds言n denominations of$1,000.00 or any multiples thereof. The Registra∫ shall not be required to make such transfer after the輔eenth (15th) day preceding any interest Payment date until after said latter date. SECTION 6. There is hereby created and established a system ofregistration for uncertificated registered public obligations with respect to血e Bonds as provided in the Registered Public Obligations Act ofOklahoma, Title 62, Oklahoma Statutes 201 1 , Section 皿 582(13)(b), Whereby books shall be maintained on behalfofthe City by The Depository Tmst Company, New York, New York, for the purpose of registration of transfer of the uncertificated registered public obligations with respect to the Bonds which specify the persons entitled to the uncertificated registered public obligations with respect to the Bonds and the rights evidenced thereby and which provide that the transfer of the uncertificated registered public obligations With respect to the Bonds and the rights evidenced thereby sha11 be registered upon such books, and the Mayor and City Clerk are hereby authorized and directed to execute such docunents and instruments as may be required to implement the foregoing system of registration. SECTION 7. That begiming with the year 2018, a COntin孤ing amual tax su能cient to Pay the interest on said Bonds when due and for the pu呼ose ofproviding a sinking fund with Which to pay血e principal ofsaid Bonds when due shall be壷融s hereby ordered levied upon a11 taxable property in said City, in addition to all other taxes. said sinking ftmd to be designated GENERAL OBLIGAT量ON BONDS, SERTES 2018, SINK賞NG FUND." Said Tax shall be and is hereby ordered certified, levied and extended upon the rolls and collected by the same O縦cers, in the same mamer and at the same time as the taxes for general puxposeg in each of Said years are certified, levied, eXtended and collected; that all funds derived from said tax sha11 be placed in said sinking fund which, tOgether with any interest co11ected on same, Sha11 be irrevocably pledged to the payment of the interest on and principal of said Bonds when and as the s肌e筒音1 due, SECT量ON 8. The City covenants and agrees that it sha11 at all times perfom all acts and things necessary or appropriate under any valid provi料on o鋤きw to ensure that interest paid on the Bonds shall not be included in gross income ofthe owners血ereoffor Federal income tax PuIPOSeS under the Intemal Revenue Code of 1 986, aS amended. SECTION 9. The City hereby covenants and¥agreeS that it wi11 comply with and carry Out all of the provisions of血e Continuing Disclos田e Certificate. Notwithstanding any other PrOVision ofthis Resolution, failure of血e City to comply with the Continuing DiscIosure Certificate shall not be considered an event of default on the Bonds; however, any Bondholder may tcke such actions as may be necessary and appropriate, including seeking mandate or SPeCific perfomance by co如orde主tOもause the City to comply with its obligations under this Section. 一Continuing DiscIosure Certificate shall mean that certain Continuing DiscIosure Certificate executed by the Mayor and City Clerk ofthe City and dated the date ofissuance and delivery Ofthe Bonds, aS Origiva11y executed and as it may be amended from time to time in accordance with the tennS thereof SECTION lO. The Council ofthe City reasonably anticipates that the aggregate amount Of一一qualified tax‑eXemPt Obligations [as defined in Section 265(b)(3)(B) of the Intemal Revenue Code of 1986 (the Code )], Which will be issued by the City and all subordinate entities thereof during calendar year 2018 does not exceed $10,000,000.00, and hereby covenants and agrees, aS a material inducement and consideration to血e purchase of its Bonds by the Purchaser, that neither it nor any subordinate entity thereof will, during calendar year 20 1 8, issue qualified tax‑eXemPt Obligations [as defined in Section 265(b)(3)(B) of the Code], in an aggregate amount exceeding $ 1 0,000,000.00. 12  SECTION ll. It is血e purpose and intent ofthis Resolution that the Bonds shall COnStitute and are hereby designated as "qua皿ed tax‑eXemPt Obligations'一as defined in Section 265(b)(3)(B) ofthe Code, in order that the purchasers of the Bonds may avail themselves of the exception contained in said Section 265(b)(3)(B) ofthe Code with respect to interest incurred to Carry taX‑eXemPt bonds. SECTION 12・ The Council ofthe City hereby covenants and agrees that it wi11 not designate as "qua岨ed tax‑eXemPt Obligations一一more than $ 1 0,000 000.00 in aggregate amount Of obligations issued by血e City or any subordinate entity thereof記uring calendar year 20 1 8. SECTION 13. That by reason ofthe City of Sand Springs being w皿out adequate public StreetS, Public safety equipment, Parks and municipal faciHties言t is deemed and hereby declared necessary for the preservation of the public hea甲, peace and safety that this Ordinance shall become operative immediately; Wherefore, an eIne聴enCy is hereby declared to ex癌and this Ordinance shall be in餌1 force and effect immedia競泳、from and after its passage and approval. ADOPTED this 28th day ofFebmary, 2018. ADOPTED as an emergency measure this 28th day of February, 20 1 8. Mayor, City of Sand Springs, City Clerk, City of Sand Springs, OHahoma (SEAL)  I, the undersigned, the duly qualified and acting City Clerk of the City of Sand Springs, Oklahoma hereby certify that the foregoing is a true and complete copy of an Ordinance authorizing the issuance of general obligation bonds for the purpose therein set out adopted by the goveming body of said City and Transcript of Proceedings of said goveming body at a regular meeting thereof held on血e date therein set out, insofar as the same relates to the introduction reading and adoption thereof as the same appears of record in my o飾ce. I further certify that attached hereto as Exhibit A当s a true and鈎mplete copy of the Public notice and agenda ofthis Special meeting which was given in writing to the Sand Springs City Clerk at least forty eight (48) hours prior to said ne融ng and which was posted in PrOminent public view at the City Ha11言00 E. Broadway Str鋤, in said City at least twentyrfeur (24) hours prior to the date of the meeting therein described, exCluding Saturdays, Sundays and legal holidays, a[l in compliance with the Ok宣ahoma Open Meeting Act. WITNESS my hand and seal this 28th day ofFebruary, 2018. City CIerk, City of Sand Springs, Oklahoma (SEAL)