An election for a $60 million General Obligation Bond package will be the major topic of discussion when the Broken Arrow city council meets Monday evening.
The council is holding a special meeting at 6 p.m. Monday, June 9, 2014, in its chambers at 220 South First Street.
The city says the bond projects would not increase property taxes, according to a news release.
Voters would be asked to approve the bond projects, and to repurpose previously approved General Obligation Bond projects from 2004 and 2008 and increase the hotel occupancy tax.
The city has been holding meetings to get input from residents about the bond projects.
If the council approves the proposed ordinance, the election will take place on August 26, 2014.
The proposal includes:
• Authorization for $59,935,000.00 in new bond issuances for streets, public safety, public buildings and quality of life projects.
• Repurpose the previously approved 2004 bond authorization of $5,855,000 for a hotel/conference center.
• Repurpose the previously approved 2008 bond authorization of $1,400,000 for an arts center.
• Increase the itinerant guest (hotel occupancy) tax to seven (7) percent.
Broken Arrow's hotel occupancy tax is currently four percent. The city says the additional revenue would help fund the City's cultural institutions such as the History Museum, Military Museum and a planned Creative Arts Center in the Rose District; the hotel occupancy tax would also support economic development through the proposed Conference Center.
Tulsa and Oklahoma City already have occupancy rates of 5 percent or greater, according to the release. It says now that Broken Arrow has joined the ranks of the five largest Oklahoma cities, increasing the City's occupancy rate to match Tulsa's proposed increase will enable the Broken Arrow to be competitive in its ability to attract people from out of town.