AUGUST 28 SPECIAL ELECTION
In June, the City Council unanimously approved a resolution calling for a special election on August 28 to consider approval of General Obligation bonds to fund some important needs in different categories of essential city services. There will be four propositions on the ballot and you will vote on each separately. Below is some information that may be helpful about the 2018 Bond Election.
Proposition #1 is to repair or repave 249 residential streets. Our residents noted repair of residential streets was a priority in our last Citizen Survey. If this proposition is approved, we will invest $15,965,000 in repairing these streets throughout our city.
Proposition #2 will fund the Phase I reconstruction of a 60 year old water booster station and replace a 70 year old underground storage tank with an above-ground storage tank. If this proposition is approved, we will invest $5,560,000 in improving our water storage and distribution system.
Proposition #3 is for renovating four park and recreation facilities including the John Conrad Golf Course, the Reed Baseball Complex, the Mid-America Park, and the Town Center Park. Two new soccer fields, and a new multi-purpose athletic facility would also be constructed. If this proposition is approved, we will invest $21,635,000 in parks, sports and recreational facilities in our community.
Proposition #4 is for 11 Public Safety projects including a new Animal Services Center (animal shelter). It also includes new training facilities, remodeling Fire Station No. 1, new fire trucks and new equipment such as breathing apparatus and exhaust removal systems. Other projects are public safety radio replacement, new tornado sirens, and improvements to the 9-1-1 Call Center. If this proposition is approved, we will invest $10,490,000 in animal welfare and public safety in our city.
Voting Information – You can find a list of polling places, a sample ballot, and other voter information on the website of the Oklahoma County Election Board at https://www.oklahomacounty.org/388/Election-Board. To get started, click Online Voter Tool on the left side of the page. According to the Oklahoma County Election Board's website, August 3 is the last day to register to vote in the August 28 election.
How General Obligation Bonds Work
A General Obligation (GO) bond is a low-risk loan that cities frequently use to fund capital improvement projects. GO bonds give cities a tool to raise funds for projects that don’t provide direct sources of revenue – such as roads, parks, and equipment. These bonds typically fund projects that serve the entire community.
The 25 year GO bonds would be repaid by raising property taxes for residential and non-residential properties in our city. The increases are based on the property’s market value. For example, a homeowner with a net assessed home value of $100,000 would see an increase of about $8 to $9 per month, or about $100 per year. (There may be additional tax benefits for those who qualify. You can check with your tax consultant for more information.)
Further information on the General Obligation Bond Issue can be found on the City’s website at www.midwestcityok.org.