Oklahoma City, Oklahoma, Bond Propositions (September 2017)
| Oklahoma City bond propositions |
|---|
|
| The basics |
| Election date: |
| September 12, 2017 |
| Total amount: |
| $967 million |
| Repayment time: |
| 25 years |
| Total repayment amount: |
| $1.48 billion |
| Bond propositions: |
Prop. 1: Streets 
|
| Prop. 2: Bridges
|
| Prop. 3: Traffic control
|
| Prop. 4: Economic development
|
| Prop. 5: Parks and recreational facilities
|
| Prop. 6: Libraries
|
| Prop. 7: Civic Center complex
|
| Prop. 8: Transit
|
| Prop. 9: City maintenance facilities
|
| Prop, 10: Drainage control
|
Prop. 11: Downtown city arena 
|
| Prop. 12: Police
|
| Prop. 13: Fire
|
A bond issue package consisting of 13 separate bond propositions was on the ballot for Oklahoma City voters in Oklahoma County, Oklahoma, on September 12, 2017. The proposed bond issues appeared on the ballot as 13 separate bond propositions totalling $967 million. The bonds would have to be repaid within 25 years. The total estimated repayment cost—principal and interest—for the entire bond package is estimated at $1,481,960,000.[1][2]
The specific amounts and purposes of each of the 13 propositions are below:[1]
Proposition 1: $490,560,000 for streets
Proposition 2: $26,795,000 for bridges
Proposition 3: $27,585,000 for traffic control
Proposition 4: $60,000,000 for economic and community development
Proposition 5: $137,720,000 for parks and recreational facilities
Proposition 6: $23,910,000 for libraries
Proposition 7: $20,185,000 for Civic Center complex
Proposition 8: $20,395,000 for transit
Proposition 9: $13,085,000 for city maintenance facilities
Proposition 10: $62,170,000 for drainage control
Proposition 11: $8,865,000 for downtown city arena
Proposition 12: $30,840,000 for police services
Proposition 13: $45,350,000 for fire services
Projects
The bond propositions were designed to fund the following projects:
Background
The 2017 bond package would succeed an $835.5 million bond package that was approved by voters in 2007. The 2007 bonds funded projects to improve streets, bridges, traffic control, drainage, parks, fire, police, libraries, maintenance facilities, transit, and economic development.[3]
As of June 30, 2017, the city carried $738,110,000 in outstanding general obligation bond debt. The bond package was designed to be issued over a 10 year period, with an average tax rate of 16 mills, which has been the average since the 1980s. If all bonds are approved, the bonds are estimated to result in $514.5 million in interest on the $967 million in bonds.[2]
Path to the ballot
This measure was put on the ballot through a unanimous vote of the Oklahoma City City Council on June 20, 2017.[4][5]
Recent news
The link below is to the most recent stories in a Google news search for the terms Oklahoma City City bonds. These results are automatically generated from Google. Ballotpedia does not curate or endorse these articles.
See also
External links
- Oklahoma County Elections Office website
- City of OKC: 2017 Bond Election website
- Oklahoma City Bond Program 2017 presentation
Footnotes
- ↑ 1.0 1.1 City of Oklahoma City, "Bond Package," accessed August 16, 2017
- ↑ 2.0 2.1 Personal communication between staff writer and City of Oklahoma City staff member, information from the City of Oklahoma City Finance Department, August 29, 2017
- ↑ City of Oklahoma City, "Oklahoma City Bond Program 2017," accessed August 23, 2017
- ↑ City of Oklahoma City, "OKC Council Meeting Notes: June 20, 2017," June 20, 2017
- ↑ Oklahoma City City Council, "Journal of Council Proceedings," accessed August 23, 2017
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