Oklahoma Gov. Mary Fallin said last week time is running out on a proposal to provide $40 million of state revenue bonds for construction of an arts and entertainment museum in Tulsa.

The legislative session is set to end May 27, and Fallin said no bill has been introduced to authorize debt for construction of the Oklahoma Museum of Music and Popular Culture in the city’s Brady Arts District.

“That is going to be up to the House and Senate,” the Republican governor said. If a bill for the facility is passed, Fallin said she would consider signing it.

The Oklahoma Historical Society has acquired property in the Tulsa arts district for the proposed museum. Bob Blackburn, executive director of the historical society, said museum could open in 2015 if lawmakers approve the bonds, which would be issued in 2012.

Sen. Brian Crain, R-Tulsa, said debt service on the bonds would not begin until 2014.

“We are in a tight budget year, but at the same time we are worrying about funding today’s problems, the idea of starting a bond issue that will not require tax dollars for two years is very attractive,” Crain said.

The Tulsa museum is expected to attract 100,000 visitors a year.

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