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Oklahoma City, Oklahoma, Proposition 10, Drainage Control Bond Issue (September 2017)
| Proposition 10: Oklahoma City Drainage Control Bond Issue |
|---|
|
| The basics |
| Election date: |
| September 12, 2017 |
| Status: |
 Approved
|
| Topic: |
| City bonds |
| Related articles |
| City bonds on the ballot September 12, 2017 ballot measures in Oklahoma Oklahoma County, Oklahoma ballot measures |
| See also |
| Oklahoma City, Oklahoma |
A bond issue proposition to fund improvements of drainage control systems, Proposition 10, was on the ballot for Oklahoma City voters in Oklahoma County, Oklahoma, on September 12, 2017. It was approved.
| A yes vote was a vote in favor of increasing the city's debt by $62 million by issuing general obligation bonds in that amount to fund the improvement of drainage control systems. |
| A no vote was a vote against increasing the city's debt by $62 million by issuing general obligation bonds in that amount to fund the improvement of drainage control systems. |
The exact amount of the proposed bond was $62,170,000. The proposition required the bonds to be repaid within 25 years.[1][2]
Election results
| Proposition 10 | ||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
| Yes | 29,023 | 69.11% | ||
| No | 12,971 | 30.89% | ||
- Election results from Oklahoma State Election Board
Overview
The bond package
Proposition 10 was part of a 13-proposition bond package totalling $967 million in proposed new debt added to the September 2017 ballot by a vote of the Oklahoma City Council.
Projects to be funded by Proposition 10
Funds from the bond were dedicated to projects to build new storm sewer projects; repair or replace storm sewers, detention ponds, and pond dams; and acquire new equipment and data collection to manage the system. Some of the specific projects included improving systems at Hog Creek in the Lake Thunderbird Watershed ($8.8 million), N.W. 10th Street and N. Walker Avenue ($7.7 million), and S.W. 19th Street and Westwood Boulevard ($6.6 million). A complete list of projects is below:[3]
Text of measure
Ballot question
The following is the ballot proposition language:[1]
| “ |
Shall The City of Oklahoma City, State of Oklahoma, incur an indebtedness by issuing registered bonds in the sum of Sixty-Two Million One Hundred Seventy Thousand Dollars ($62,170,000) to provide funds for the purpose of improving and equipping the City’s drainage control facilities, also including channel improvements, stormwater detention facilities, and water quality control improvements, drainage maintenance equipment and materials, and drainage mapping, analysis and inventory system improvements, to be owned exclusively by said City, to be completed with or without the use of other funds, 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 a rate not to exceed ten percent (10%) per annum, payable semi-annually, and to become due serially within twenty-five years from their date?[4] |
” |
Background
The 2017 bond package followed 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. In particular, voters approved a bond of $32.9 million to fund drainage projects, which was used to invest in new drainage infrastructure, repair detention ponds and dams, and improve water quality.[5][3]
Going into the September 2017 election, about 14 percent of property taxes in Oklahoma City were allocated to paying for bonds. As of June 30, 2017, the city carried $738,110,000 in outstanding general obligation bond debt. This bond package was designed to be issued over a 10 year period, resulting in an average total tax rate of 16 mills, which had been the average since the 1980s. This bond package was estimated to result in $514.5 million in interest on the $967 million in bonds.[6][2]
Path to the ballot
Proposition 10 was part of a 13-proposition bond package totalling $967 million in proposed new debt added to the September 2017 ballot by a vote of the Oklahoma City Council. The measure was originally proposed on May 30, 2017, with a public hearing on June 13, 2017. On June 20, 2017, the city council voted unanimously to place the measure on the ballot for the election on September 12, 2017.[7][8]
Recent news
The link below is to the most recent stories in a Google news search for the terms Oklahoma City drainage control bond issue Proposition 10. 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, "September 12, 2017, Special Election Sample Ballot," accessed August 16, 2017
- ↑ 2.0 2.1 City of Oklahoma City, "Bond Package," accessed August 16, 2017
- ↑ 3.0 3.1 City of Oklahoma City, "Drainage," accessed August 23, 2017
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
- ↑ City of Oklahoma City, "Oklahoma City Bond Program 2017," accessed August 23, 2017
- ↑ 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, "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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