§ 305. Authorizing and approving the bond purchase contract; expressly waiving competitive bidding; negotiated sale authorized; directing execution and delivery of purchase contract.

The City of Tulsa hereby authorizes and approves the sale and issuance by the Tulsa Metropolitan Water Authority of its Tulsa Metropolitan Water Authority Water Revenue Bonds, Series 1984 (the "bonds"); the Authority is authorized to sell the underwriters named in the hereinafter mentioned purchase contract, at a price of $21,221,017.35, plus accrued interest from the date thereof to the date of delivery; the price represents 97.5007% of the face amount of the bonds; the average interest rate will be 9.3753% with a net interest cost (rate) of 9.5647. Competitive bidding for the sale of the bonds is hereby expressly waived, pursuant to the act, and the bonds are authorized to be sold to the underwriters at a negotiated sale subject to the terms and conditions of said purchase contract. The Chairman and Secretary of the Authority are hereby authorized by the City upon their satisfaction to execute and deliver the purchase contract to be dated of even date herewith, and the Mayor is authorized to approve the purchase contract.

(Ord. No. 15944)