Oklahoma

Voters in Oklahoma County Independent School District No. 12 last week approved three bond proposals totaling $29.9 million.

A $191 million general obligation bond package proposed by Oklahoma County Independent School District No. 52 failed last week despite a majority of voters endorsing the bond package.

DALLAS — Higher-than-expected general fund collections in September pushed Oklahoma revenues 4% past the official estimate for the first quarter of fiscal 2011 and 6.8% higher than the first three months of fiscal 2010.

DALLAS — Oklahoma Gov. Brad Henry will serve as the honorary chairman of a group seeking to defeat a proposed constitutional amendment that would increase state funding of public education.

DALLAS — Oklahoma is preparing a list of highway projects that could get under way quickly if Congress approves President Obama’s proposed $50 billion infrastructure stimulus program.

A proposal by Logan County Independent School District No. 1 for $89.8 million of lease-revenue bonds was rejected last week by almost 78% of those voting.

Oklahoma tax revenues outpaced expectations in the first month of fiscal 2011, with $370.1 million in collections. The total is almost 10% better than July 2009 and almost 12% above the official state budget estimate.

The Oklahoma Transportation Commission last week approved the sale of $215 million of bonds to finance the next phase of the state's eight-year highway plan. The blueprint, which includes almost $4.3 billion of road and bridge work through 2018, is updated annually.

DALLAS — Oklahoma in fiscal 2010 experienced the worst revenue decline since the Great Depression, but Treasurer Scott Meacham is encouraged by the latest report on state tax collections.

DALLAS — Oklahoma investment banking veteran Chris Cochran has been named senior vice president and managing director for public finance at BOSC Inc., the broker-dealer subsidiary of BOK Financial Corp.

DALLAS — Oklahoma Gov. Brad Henry and Republican leaders in the Legislature reached an agreement late last week on a proposed $6.7 billion general fund budget for fiscal 2011 that relies on more than $1 billion of one-time money to cover a revenue shortfall estimated at $1.2 billion.

WASHINGTON — The Internal Revenue Service has closed its audit of $161.3 million of variable-rate demand student housing revenue bonds issued by the Payne County, Okla., Economic Development Authority in 2002 with no change to the tax-exempt status of the debt.

WASHINGTON — Last month, the Oklahoma fire marshal’s office cut staff again, dropping its headcount to 27 workers from 34 at full capacity four years ago, as another round of spending cuts was imposed.

DALLAS — Oklahoma tax revenue in February exceeded the official forecast for the first time since December 2008, with better-than-expected collections from personal income and energy production taxes.

DALLAS — Voters in the Tulsa County Independent School District No. 1 approved a $354 million general obligation bond package on Tuesday, the largest bond package ever sought by the district or any other school district in Oklahoma.

DALLAS — Tulsa County Independent School District No. 3 will begin 10 years of scheduled sales with a $19 million general obligation issue set for competitive sale on Feb. 16.

The Tulsa suburb of Jenks will hold a Feb. 9 election on a $6.7 million bond issue that would provide the required local match to three street projects.

Tim Gilpin, a member of the Oklahoma Board of Education, last week criticized legislative leaders for not calling a special session to address a $43 million cut in state aid to education over the past four months.

Oklahoma state agencies will get 10% less than appropriated for December, as tax revenue fell in November for the 11th consecutive month.

DALLAS — Voters across Oklahoma went to the polls on Tuesday to support more than $470 million of school bonds requested by local districts. All five bond proposals on the ballot obtained the 60% majority needed to pass school bonds.