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Sperry board ratifies action to seek Clean Water SRF loan and confirms utility leases
Summary
The Board approved a resolution ratifying Sperry Utility Services Authority action authorizing issuance of a Clean Water SRF promissory note to the Oklahoma Water Resources Board and confirming or authorizing amended leases of the town's utility systems to the Authority.
The Sperry Board of Trustees voted unanimously to adopt a resolution approving action taken by the Sperry Utility Services Authority to authorize issuance, sale and delivery of a Clean Water State Revolving Fund promissory note to the Oklahoma Water Resources Board and to ratify or authorize amended leases pertaining to the town's utility systems. The motion passed with all five trustees recorded as voting "yea."
The resolution authorizes the Authority to proceed with the SRF financing and confirms lease arrangements between the town and the Authority as described in the agenda language. The minutes do not include loan principal or repayment terms; the Oklahoma Water Resources Board will be the lender according to the resolution as recorded in the minutes.
