Broken Arrow bonds


Not even a year since the Vision 2025 tax increase was passed and Broken Arrow is already going back to their taxpayers for more. A week from Tuesday, Broken Arrow voters will vote on four general obligation bond issues -- that means they'll be repaid by an increase in property tax rates -- totalling $53 million. Projects include street widening (about half of the total), police and fire facilities, a $6.5 million convention center, and park improvements.

Actually, they're saying the property tax rate will not go up, because previous bonds are being retired, so the increase in rates for these new bonds will be offset by a decline in rates for bonds that have been paid off.

You can see the ordinance spelling it all out here. Note that, unlike the Vision 2025 ballot items, the language specifies "not to exceed" amounts. Also unlike Vision 2025, the money can only be spent on the specified projects -- overages and modifications aren't an issue.

I find this interesting because, after all the alarmist noise of the Vision 2025 campaign -- "if we don't act now, the sky will fall!" -- here is an election less than a year later involving the same types of projects funded under Vision 2025, but without a net increase in taxes.

I'd be interested in hearing from Broken Arrow readers with an opinion on this package.

About this Entry

This page contains a single entry by Michael Bates published on May 3, 2004 6:31 AM.

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