Broken Arrow officials said they may ask for a bond referendum in 2014 after Tulsa County voters earlier this month rejected an extension of a sales tax that would have provided the city with a total of $44 million.
The city would have received the funding from its share of the $362 million of the sales tax revenues earmarked for quality-of-life projects in Tulsa County and 10 cities, including Tulsa.
Russell Peterson, who headed a committee that identified the projects to be financed with bonds supported by the tax revenue, said more than one bond election may be needed to accomplish the proposed projects.
The Tulsa suburb had anticipated using the bond proceeds to widen five major roads, renovate two fire stations, and replace 35 police cars and one fire truck.
Voters were told that if the county-wide proposition failed, local efforts to finance needed traffic and public safety projects would continue, Peterson said.
Broken Arrow voters approved a $44.4 million general obligation bond referendum in April 2011.
The city’s $95.5 million of outstanding GO bonds are rated Aa2 by Moody’s Investors Service and AA-minus by Standard & Poor’s.