| Consider approval of Ordinance No. 4234-A, an Ordinance of the Council of the City of Muskogee, Oklahoma, authorizing the calling and holding of a special election in the City of Muskogee, State of Oklahoma (the “City”), on the 27th day of August, 2024, for the purpose of submitting to the registered qualified electors of said City the question of the issuance of General Obligation Bonds of said City in an amount not to exceed the sum of Seventy Eight Million Six Hundred Eighty Five Thousand Dollars ($78,685,000) to be issued in series to provide funds for the purposes of: (i) acquiring, constructing, expanding, renovating, repairing, and/or equipping public safety buildings, facilities, and equipment, all to be owned exclusively by the City, (ii) constructing, reconstructing, repairing, improving, and rehabilitating streets, roads, bridges, and intersections in the City (including lighting, sidewalks/bikepaths, landscaping, related drainage improvements, driveway reconstruction, utility relocation, and other related improvements); and (iii) constructing, expanding, repairing, which may also include improving, renovating, acquiring and equipping community facilities, all to be owned exclusively by the City; all to be completed with or without the use of other funds, and levying and collecting an annual tax, in addition to all other taxes, upon all the taxable property in said City for the payment of the interest and principal on said bonds; providing for election procedures; authorizing professional services agreements pertaining to the issuance of said bonds; declaring an emergency; and containing other provisions related thereto, or take other necessary action. (Mike Miller) |
| At the City Council Special Call meeting of April 25, 2023, the City Council gave direction to Staff to pursue the option of General Obligation Bonds for future funding of capital needs for the City of Muskogee. City Staff and representatives from The Public Finance Law Group PLLC, presented funding and scheduling options for a potential General Obligation Bond program in Muskogee for the Fall of 2023, at a Special Call Council meeting on May 22, 2023. Later in 2023, Council gave further direction to staff to prepare for an election in 2024. In April of 2024, the City Council voted to conduct a public opinion survey in preparation for selection of projects for a General Obligation Bond capital improvements program. Two weeks ago, the City Council voted to select certain projects for inclusion in the capital program, including projects for inclusion in a renewal of the $.005 CIP sales tax which is set to expire next year. This item allows the City Council to call for an election to place the projects before the voters. |
