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Shawnee commission approves Oklahoma Baptist University Authority indebtedness; city says no repayment obligation
Summary
The commission approved a resolution allowing the Oklahoma Baptist University Authority to incur indebtedness through notes or similar instruments; city attorney said the approval is procedural and does not obligate the City of Shawnee to repay the debt. Vote: 6–0.
The City Commission approved a resolution authorizing the Oklahoma Baptist University Authority to issue notes or other forms of indebtedness and waived competitive bidding for the sale of the debt instruments.
City Attorney Joe Vondren told commissioners the action is ministerial. “This is approving the indebtedness. It is not encumbering the city of Shawnee in any way, nor would the city of Shawnee have any responsibility for repayment of the debt,” he said.
The resolution formalized prior proceedings of the authority and allowed the authority to issue one or more series, subseries or issuances of notes as needed. Commissioners recorded no public objections; the mayor called the vote and the motion carried 6–0.
The item followed a public hearing earlier the same day for the related authority proceedings; Vondren and bond counsel were present to answer questions. The commission did not identify a repayment obligation for the city in the adopted resolution.
The commission moved on to other agenda items after the vote.
