Bond Projects - Streets

Voter Approved Quality of Life Projects 

On August 28, 2018 Midwest City voters approved four propositions to meet important needs in different categories of essential city services: streets, water, parks and recreation and public safety.

Voter approval of the propositions authorized the City to issue General Obligation Bonds in the amount approved for all of the projects within each proposition.

COUNCIL APPROVES SCHEDULE FOR BOND ISSUANCE

At the October 9, 2018 Council meeting, the City Council approved the schedule for the three phases for bond issuance as well as the project prioritization for the three phases.

COUNCIL AWARDS PHASE ONE, tWO AND THree OF BOND ISSUANCE

1. On February 12, 2019 the City Council voted to award the sale of $20 million in General Obligation Bonds to BOK Financial Securities, the lowest bidder with a 25-year interest rate of 3.17333% based on the City's excellent bond rating of AA-. Funds from the sale of the bonds will be available April 1. This is the first phase of the bond issuance schedule. 
2. On May 14, 2019 the City Council approved the sale of $17.25 million in General Obligation Bonds to D.A. Davidson, the lowest bidder with a 25-year interest rate of 2.78111% based on the City's excellent bond rating of AA-. Funds from the sale of the bonds became available June 27, 2019. This is the second phase of the bond issuance schedule. 
3. Phase III of the bonds was issued on June 1, 2020. The lowest bidder was BOK Financial Securities with a 25-year interest rate of 2.316150%.