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Bond Transparency Act of 2017

Evidence of Indebtedness Form

Date of Posting: May 1, 2018

Name of City: City of Moore, Oklahoma

Address: 301 N Broadway
Moore, Oklahoma 73160

Date of New Bond Election: June 26, 2018

Amount of New Bond Election: $48,615,000

Projects to be completed with New Bond Election Proceeds:

PROPOSITION NO. 1

"Shall the City of Moore, Oklahoma, incur an indebtedness by issuing its bonds in the amount of Forty-Three Million Fifty Thousand Dollars ($43,050,000) to provide funds for the purpose of constructing, reconstructing, improving or repairing streets or bridges in said City, to be owned exclusively by said City, and levy and collect an annual tax, in addition to all other taxes, upon all the taxable property in said City sufficient to pay the interest on said bonds as it falls due, and also to constitute a sinking fund for the payment of the principal thereof when due, said bonds to bear interest at not to exceed the rate of 7 per centum per annum, payable semiannually and to become due serially within 20 years from their date?"

The specific projects for which at least seventy percent (70%) of the proceeds of the aforesaid street or bridge bonds shall be expended, and the dollar amounts for each such project shall be as follows:

Project

Cost

1.

Constructing and equipping an underpass for the BNSF railroad tracks east of the intersection of South 4th Street and Broadway Street, including the acquisition of right-of-way, project engineering, inspections, related utility expenses, contingencies and other associated project costs.

$27,860,000

2.

Resurfacing of existing four lane roadway of NE 12th Street between Eastern Avenue and Interstate 35, including necessary curb and guttering and storm drainage improvements, sidewalks and streetscape.

3,930,000

3.

Resurfacing and widening of 34th Street from two to four lane roadway between Telephone Road and Santa Fe Avenue, including necessary curb and guttering and storm drainage improvements, sidewalks and streetscape.

4,380,000

4.

Resurfacing of existing four lane roadway of Eastern Avenue between NE 12th Street and SE 4th Street, including necessary curb and guttering and storm drainage improvements, sidewalks and streetscape.

3,425,000

5.

Resurfacing of existing four lane roadway of Eastern Avenue between SE 4th Street and SE 19th Street including necessary curb and guttering and storm drainage improvements, sidewalks and streetscape.

3,455,000

Total:

$43,050,000

PROPOSITION NO. 2

"Shall the City of Moore, Oklahoma, incur an indebtedness by issuing its bonds in the amount of Three Million One Hundred Forty Thousand Dollars ($3,140,000) to provide funds for the purpose of constructing, reconstructing, improving or repairing certain drainage channels in said City, to be owned exclusively by said City, and levy and collect an annual tax, in addition to all other taxes, upon all the taxable property in said City sufficient to pay the interest on said bonds as it falls due, and also to constitute a sinking fund for the payment of the principal thereof when due, said bonds to bear interest at not to exceed the rate of 7 per centum per annum, payable semiannually and to become due serially within 20 years from their date?"

The specific projects for which at least seventy percent (70%) of the proceeds of the aforesaid drainage channels bonds shall be expended, and the dollar amounts for each such project shall be as follows:

Project

Cost

1.

Reconstruction and/or replacement of concrete drainage channel located between NW 12th Street and NW 5th Street.

$1,695,000

2.

Reconstruction and/or replacement of existing concrete drainage channel located between NW 5th Street and SW 4th Street.

1,445,000

Total:

$3,140,000

PROPOSITION NO. 3

"Shall the City of Moore, Oklahoma, incur an indebtedness by issuing its bonds in the amount of One Million Five Hundred Twenty-Five Thousand Dollars ($1,525,000) to provide funds for the purpose of constructing and equipping Quiet Zones at certain railroad crossings in said City, to be owned exclusively by said City, and levy and collect an annual tax, in addition to all other taxes, upon all the taxable property in said City sufficient to pay the interest on said bonds as it falls due, and also to constitute a sinking fund for the payment of the principal thereof when due, said bonds to bear interest at not to exceed the rate of 7 per centum per annum, payable semiannually and to become due serially within 20 years from their date?"

The specific projects for which at least seventy percent (70%) of the proceeds of the aforesaid Quiet Zone bonds shall be expended, and the dollar amounts for each such project shall be as follows:

Project

Cost

Construction and equipping of Quiet Zones with specialized equipment to enhance the safety of citizens at the railroad crossings located at North 12th Street, Main Street and SE 34th Street.

$1,525,000

PROPOSITION NO. 4

"Shall the City of Moore, Oklahoma, incur an indebtedness by issuing its bonds in the amount of Six Hundred Thousand Dollars ($600,000) to provide funds for the purpose of acquiring two (2) mechanical street sweepers, to be owned exclusively by said City, and levy and collect an annual tax, in addition to all other taxes, upon all the taxable property in said City sufficient to pay the interest on said bonds as it falls due, and also to constitute a sinking fund for the payment of the principal thereof when due, said bonds to bear interest at not to exceed the rate of 7 per centum per annum, payable semiannually and to become due serially within 20 years from their date?"

The specific projects for which at least seventy percent (70%) of the proceeds of the aforesaid mechanical street sweeper bonds shall be expended, and the dollar amounts for each such project shall be as follows:

Acquire two (2) mechanical street sweepers to help maintain streets and reduce debris going into storm sewers.

$600,000

PROPOSITION NO. 5

"Shall the City of Moore, Oklahoma, incur an indebtedness by issuing its bonds in the amount of Three Hundred Thousand Dollars ($300,000) to provide funds for the purpose of acquiring and installing a new telephone system, to be owned exclusively by said City, and levy and collect an annual tax, in addition to all other taxes, upon all the taxable property in said City sufficient to pay the interest on said bonds as it falls due, and also to constitute a sinking fund for the payment of the principal thereof when due, said bonds to bear interest at not to exceed the rate of 7 per centum per annum, payable semiannually and to become due serially within 20 years from their date?"

The specific projects for which at least seventy percent (70%) of the proceeds of the aforesaid telephone system bonds shall be expended, and the dollar amounts for each such project shall be as follows:

Acquire and install new telephone system to replace existing City of Moore telephone system that is no longer supported by the manufacturer.

$300,000

Bonds Issued and Outstanding from Previous (2008) Bond Election:

Authorized the City to issue $18,000,000 in general obligation bonds for various street projects within the City.

$7,400,000 General Obligation Bonds of 2009 dated January 1, 2009

  • $1,000,000 outstanding, maturing 7/1/2018

$6,925,000 General Obligation Bonds of 2010 dated June 1, 2010

  • $1,000,000 outstanding, maturing 7/1/2018

$3,675,000 General Obligation Bonds of 2013 dated January 1, 2013

  • $1,235,000 outstanding, maturing 1/1/2019 and 1/1/2020

Bonds Issued and Outstanding from Previous (2012) Bond Election:

Authorized the City to issue $25,100,000 in general obligation bonds for the purpose of acquiring, constructing and equipping various parks and recreational facilities within the City.

$6,325,000 General Obligation Bonds of 2013 dated March 1, 2013

  • $4,025,000 outstanding, maturing 3/1/2019 through 3/1/2025

$9,075,000 General Obligation Bonds of 2014 dated January 1, 2014

  • $6,600,000 outstanding, maturing 1/1/2019 through 1/1/2026

$3,125,000 General Obligation Bonds of 2015 dated March 1, 2015

  • $3,375,000 outstanding, maturing 1/1/2019 through 1/1/2027

$2,805,000 General Obligation Bonds of 2016 dated February 1, 2016

  • $2,550,000 outstanding, maturing 2/1/2019 through 2/1/2028

$2,770,000 General Obligation Bonds of 2017 dated March 1, 2017

  • $2,770,000 outstanding, maturing 7/1/2019 through 3/1/2029

Bonds Issued and Outstanding from Previous (2014) Bond Election:

Authorized the City to issue $15,000,000 in general obligation bonds for the purpose of acquiring, constructing and equipping an overpass bridge at the intersection of I-35 and South 34th Street.

$5,875,000 General Obligation Bonds of 2015 dated July 1, 2015

  • $5,340,000 outstanding, maturing 7/1/2018 through 7/1/2027

$5,000,000 General Obligation Bonds of 2016 dated October 1, 2016

  • $5,000,000 outstanding, maturing 10/1/20118 through 10/1/2028

$4,125,000 General Obligation Bonds of 2018 dated March 1, 2018

  • $4,125,000 outstanding, maturing 3/1/2020 and 3/1/2021

Additional detail regarding Previous Bond Elections can be found at:

https://www.cityofmoore.com/departments/finance

Bond Transparency Act of 2017