Municipal Purchase of Real Property on credit can that be done similar to
the way a lease purchase agreement is done with personal property?  Also is
there any other way for a municipality to purchase real property on credit?

--
Kevin Dodson
Attorney at Law
308 A Northeast First Street
Pryor, OK 74361
918-824-3600 <(918)%20824-3600>
Fax: 918-824-3601 <(918)%20824-3601>
E-Mail: kevinatdodsonlawoffice@gmail.com

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Since a city cannot incur indebtedness beyond fiscal year the most common solution is to purchase the property in the name of a trust authority which could enter into a multi year mortgage and note.

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s/ David A. Davis
LAW OFFICE OF DAVID A. DAVIS
4312 N. Classen Blvd.
OKLAHOMA CITY, OK 73118
405 840-6353
405 557-0777 (FAX)
ddavislaw@live.commailto:ddavislaw@live.com

From: Oama oama-bounces@lists.imla.org on behalf of Kevin Dodson kevinatdodsonlawoffice@gmail.com
Sent: Wednesday, April 15, 2020 1:56 PM
To: oama@lists.imla.org oama@lists.imla.org
Subject: [Oama] Municipal Purchase of Real Property

Municipal Purchase of Real Property on credit can that be done similar to the way a lease purchase agreement is done with personal property?  Also is there any other way for a municipality to purchase real property on credit?

--
Kevin Dodson
Attorney at Law
308 A Northeast First Street
Pryor, OK 74361
918-824-3600tel:(918)%20824-3600
Fax: 918-824-3601tel:(918)%20824-3601
E-Mail: kevinatdodsonlawoffice@gmail.commailto:kevinatdodsonlawoffice@gmail.com

Notice: CONFIDENTIAL AND PRIVILEGED COMMUNICATION: This e-mail transmission, and any documents, files or previous e-mail messages attached to it, may contain confidential information that is legally privileged. If you are not the intended recipient, or person responsible for delivering it to the intended recipient you are hereby notified that any disclosure, copying, distribution or use of any of the information contained in or attached to this message is STRICTLY PROHIBITED. Interception of e-mail is a crime under the Electronic Communications Privacy Act, 18 U.S.C. 2510-2521 and 2107-2709. If you have received this transmission in error, please immediately notify us by replying to this e-mail or by calling 918-824-3600tel:(918)%20824-3600, and destroy the original transmission and its attachments without reading them or saving them to disk. Thank you.