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CONSIDERATION OF ORDINANCE O-1920-50 UPON FIRST, SECOND, AND FINAL READING: AN ORDINANCE PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION BONDS, SERIES 2020A IN THE SUM OF $11,250,000 BY THE CITY OF NORMAN, OKLAHOMA, AUTHORIZED AT AN ELECTION DULY CALLED AND HELD FOR SUCH PURPOSE; PRESCRIBING FORM OF BONDS; PROVIDING FOR REGISTRATION THEREOF; DESIGNATING THE REGISTRAR FOR THE ISSUE; PROVIDING FOR LEVY OF AN ANNUAL TAX FOR THE PAYMENT OF PRINCIPAL AND INTEREST ON THE BONDS AND FIXING OTHER DETAILS OF THE ISSUE; APPROVING THE FORMS OF A CONTINUING DISCLOSURE AGREEMENT AND AN OFFICIAL STATEMENT; AUTHORIZING EXECUTIONS AND ACTIONS NECESSARY FOR THE ISSUANCE AND DELIVERY OF THE BONDS; AND DECLARING AN EMERGENCY.
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BACKGROUND: On May 13, 2008, the voters of Norman approved Ordinance O-0708-33, authorizing the issuance of $11,250,000 in General Obligation bonds (GO Bonds) for "renovating, reconstructing, and equipping certain existing municipal buildings within the Municipal Complex to be used for a Senior Citizen's Center, Municipal Court, Planning and Community Development Offices, City Engineering Department Offices, and expansion of the Police Department". These authorized bonds were not issued, pending the relocation of the Norman Public Library, Central Branch from the Municipal Complex location. With the passage of the Norman Forward Sales Tax in 2015, funding was made available for the construction of a new Central Branch Library, which was completed in 2019. The relocation of the Central Library has now enabled the renovation of the Municipal Complex to move forward.
The Council reviewed updated plans for the renovation of the Municipal Complex on September 3, 2019, and on March 24, 2020, the Council approved an Amendment to Contract K-1819-99 with The McKinney Partnership for final design of the Municipal Complex. Also on March 24, 2020, the Council and the Norman Municipal Authority approved Contract K-1920-133 with Crossland Construction Com...
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