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2.
SPECIAL CALL Urban Renewal Authority Agenda
Meeting Date:
06/17/2024
Initiator:
Judy Villalobos, Executive Assistant
Department:
City Manager
Staff Information Source:
Information
AGENDA ITEM TITLE:
Discuss the upcoming General Obligation (GO) Bond and Capital Improvement Project (CIP) Sales Tax Election, to be held on August 27, 2024. (Mike Miller)
BACKGROUND:
On August 27, 2024, Muskogee voters will consider whether to approve a general obligation bond to accomplish key projects across our community. If passed, this $77,000,000 bond will be used to build a new police station, build a new fire station and rehabilitate several other fire stations, widen and improve roadways, improve stormwater drainage and management, rehabilitate or improve key civic buildings, invest in our downtown and medical districts, and improve pedestrian and bicycle access.
Three propositions will represent portions of a general obligation bond that will fund a variety of vital city projects. A fourth proposition will allow voters to choose to renew the funding for an existing Capital Improvement Project sales tax in Muskogee for an additional six years (2025-2031). You can see the entire project list, including funding needed, at www.buildingabettermuskogee.com
Muskogee has not passed a city general obligation (GO) bond in more than 50 years; the GO Bond would therefore increase property tax in the city by about 15 mills, or about $12.50/month for a property with an assessed value of $100,000. The sales tax would be a six-year extension of existing sales tax, so approving it will not change the sales tax rate in Muskogee.
RECOMMENDED ACTION:
discuss
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