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Moore council approves $5.13 million general obligation bond drawdown and related contracts
Summary
Council approved Resolution No. 14126 to award $5,130,000 in general obligation bonds of 2026, companion resolution No. 14226 regarding bond issuance details, and employment agreements for financial adviser and bond counsel to support the issuance.
The Moore City Council approved a drawdown and related agreements tied to the city’s 2026 general obligation bond issue. Staff described the actions as companion items: the award of $5,130,000 in GO bonds (Resolution No. 14126), an authorizing resolution describing form and levy (Resolution No. 14226), and employment agreements for a financial adviser and bond counsel to manage issuance.
The city manager/finance presenter said the drawdown will replace advance funding the city previously used on a credit line and recommended approval. "This is the annual drawdown of our GO bonds... this drawdown will be used to replace the advance funding of the credit line that we did several years ago," the presenter said. Council then moved, seconded and approved the resolutions and contracts by roll call.
Clerks recorded affirmative votes on the companion items; the council's approvals allow staff to proceed with the bond award and engage the selected financial adviser and bond counsel to complete issuance steps and closing.
