State Supreme Court approves financing plan for state Capitol dome
Tuesday, September 27th 2005, 2:45 pm
By: News On 6
OKLAHOMA CITY (AP) -- The state Supreme Court says it's legal for the state to issue a $5-million bond to pay for the state Capitol dome.
Retired lawyer Jerry Fent challenged the bond issue and was asking the court to reconsider its ruling that authorizes the bond. Fent argued that the commission that would issue the ten-year bond couldn't make payments because the commission expires in 2008.
The court ruled in June that the bond issue is legal and now voted 6-to-3 not to reconsider the ruling.
The cost of building the dome was nearly $21-million with $5-million borrowed to complete the project.
The bond is to pay off the $5-million loan.