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RESOLUTION R-1213-143: A RESOLUTION APPROVING THE INCURRENCE OF INDEBTEDNESS BY THE NORMAN MUNICIPAL AUTHORITY (THE "AUTHORITY") ISSUING ITS SANITATION SYSTEM REVENUE NOTE, SERIES 2013 (THE "NOTE"); PROVIDING THAT THE TRUST INDENTURE CREATING THE AUTHORITY IS SUBJECT TO THE PROVISIONS OF THE GENERAL BOND INDENTURE, AS SUPPLEMENTED AND AMENDED, AUTHORIZING THE ISSUANCE OF SAID NOTE; WAIVING COMPETITIVE BIDDING AND APPROVING THE PROCEEDINGS OF THE AUTHORITY PERTAINING TO THE SALE OF SAID NOTE; RATIFYING AND CONFIRMING A LEASE AGREEMENT AND OPERATION AND MAINTENANCE CONTRACT (THE "LEASE AGREEMENT") BETWEEN THE CITY OF NORMAN, OKLAHOMA (THE "CITY") AND THE AUTHORITY WHEREBY THE CITY LEASES ITS SANITATION SYSTEM TO THE AUTHORITY; AND CONTAINING OTHER PROVISIONS RELATING THERETO.
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BACKGROUND: On March 26, 2013, the Council, acting as the Norman Municipal Authority (NMA), approved a contract with Allied Waste Systems for the curbside collection of recyclable materials using 95-gallon rolling polycarts. It was agreed at this time that the City of Norman would purchase and own the polycarts, to replace the recycling bins provided by the previous curbside recycling collection contractor. On May 14, 2013, the NMA awarded a bid in the amount of $1,584,748 to Rehrig Pacific Company for the purchase and delivery of the specified polycarts.
DISCUSSION: In discussions leading to the award of the curbside recycling collection contract, the NMA directed that the Sanitation Utility enter into a financing arrangement to pay for the recycling polycarts. Financing bid proposals and specifications were sent to local, regional and national banking and financing firms for bids on financing packages for the purchase of the polycarts. Bidders quotes will be received on May 28, and the staff will recommend that the financing be awarded to the lowest and best bidder based on the responses received at that time. Information on the tabulated bids will be distributed...
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