Alva City Council approves $5 million bond issue for water projects
September 24, 2023
The Alva City Council meeting Monday, Sept. 18, lasted around two and one-half hours. The longest discussion concerned Resolution 2023-019 for the issuance and sale of promissory note by the Alva Utility Authority to the Oklahoma Water Resources Board (OWRB). To allow interested parties in the audience to get on the road earlier, Mayor Kelly Parker moved this item forward in the meeting.
Parker said this was an opportunity to secure some financing for water projects without increasing the annual debt limit the city has been paying. Some of the debt items will be paid off, and the bond payof...