Broken Arrow City Council
Meeting of: 12-19-2023
Title:
title
Presentation and discussion of upcoming Citizen Bond Survey
End
Background:
On August 28, 2018, voters approved the $211 million 6-proposition package of the Build Our Future BA General Obligation Bond initiative. General Obligation (GO) Bond financing is a common funding tool used by Oklahoma municipalities to pay for large capital projects, such as the building of roads, public facilities, and parks. The 2018 propositions easily surpassed the required 60 percent approval of the voters. The propositions included:
Proposition 1: Transportation (74 percent approved)
$142.625 million
Proposition 2: Public Safety (71 percent approved)
$20.35 million
Proposition 3: Parks and Recreation (68 percent approved)
$17.75 million
Proposition 4: Public Facilities (62 percent approved)
$16.8 million
Proposition 5: Stormwater (75 percent approved)
$7.5 million
Proposition 6: Drainage (73 percent approved)
$5.5 million
A total of 88 projects appeared on the final list of the propositions, including:
* Several road widening projects in the community
* Constructing and open new Fire Station No. 7
* Constructing and opening the new Senior Center annex facility
* Constructing and opening the new Veterans Center
* Improved drainage in several neighborhoods
* Multiple parks improvements throughout the city
Due to the impressive economic vitality of Broken Arrow regarding the significant increase in the city's net assessed value, as well as the City Council's prudent stewardship of the public's money, the City of Broken Arrow is well ahead of schedule and intends to sell the final two series of 2018 bonds in 2024 and 2025, two years earlier than planned.
The position to close out the 2018 General Obligation Bond two years early presents the city with the opportunity to reengage voters in 2026 for their consideration of capital improvements that will continue to enhance the quality of life citizens enjoy in Broken A...
Click here for full text