Voters in the Tulsa suburb of Broken Arrow last week turned down two $8 million general obligation bond proposals that would have financed a new public-safety complex and a city conference center.
The public-safety complex bonds were defeated with 53.3% opposed, while 63.6% of those voting turned down the conference center proposal.
Voters in 2004 approved $6.5 million for the conference center, but city officials said earlier this year that the funds were insufficient for the project. In December 2008, voters approved a $38.5 million bond package for street and drainage projects.
Mayor Mike Lester attributed the proposal's defeat to the sluggish economy, and said officials intend to put together another bond proposal soon.
The city wanted to spend $8 million to renovate a Navy-Marine Corps Reserve Center into a public-safety complex to house the police and fire departments, and an emergency operations center. Operations at the center will be moved next year to a new facility under construction in Broken Arrow.
The $8 million for the proposed conference center would have completed the 50,000-square-foot project, which would be located adjacent to a hotel to be built by a private operator.
The city's GO bonds are rated A1 by Moody's Investors Service and A-plus by Standard & Poor's. Broken Arrow has $65.4 million of outstanding debt.
