File #: R-1920-88    Version: 1 Name: GO Bonds Series 2020A
Type: Resolution Status: Passed
File created: 5/14/2020 In control: City Council
On agenda: 5/26/2020 Final action: 5/26/2020
Title: RESOLUTION R-1920-88: A RESOLUTION FIXING THE AMOUNT OF GENERAL OBLIGATION BONDS, SERIES 2020A TO MATURE EACH YEAR; FIXING THE TIME AND PLACE THE BONDS ARE TO BE SOLD; DESIGNATING A PAYING AGENT/REGISTRAR; APPROVING THE PRELIMINARY OFFICIAL STATEMENT AND DISTRIBUTION THEREOF; AND AUTHORIZING THE CLERK TO GIVE NOTICE OF SAID SALE AS REQUIRED BY LAW AND FIXING OTHER DETAILS OF THE ISSUE.
Attachments: 1. City Council Staff Report, 2. 11 Resolution Authorizing Sale of Bonds 2020A, 3. 12 Notice of Sale of Bonds 2020A
Title
RESOLUTION R-1920-88: A RESOLUTION FIXING THE AMOUNT OF GENERAL OBLIGATION BONDS, SERIES 2020A TO MATURE EACH YEAR; FIXING THE TIME AND PLACE THE BONDS ARE TO BE SOLD; DESIGNATING A PAYING AGENT/REGISTRAR; APPROVING THE PRELIMINARY OFFICIAL STATEMENT AND DISTRIBUTION THEREOF; AND AUTHORIZING THE CLERK TO GIVE NOTICE OF SAID SALE AS REQUIRED BY LAW AND FIXING OTHER DETAILS OF THE ISSUE.

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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 November, 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/Norman Municipal Authority approved Contract K-1920-133 with Crossland Construction Company, for Construction Manager at Risk services for the Municipal Complex.

On March 23, 2020, the District Court of Cleveland County approved a Joint Motion for Summary Judgment in the case of Sherman vs. The City of Norman (Case Number CV-2020-140 JV), which authorizes the modified scope of the Municipal Complex renovation...

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