Trustees of Oklahoma County Independent School District No. 52 last week set an election for Sept. 13 on a request for $90.5 million of bonds. The board also approved a list of projects to be financed with the proceeds.
The district, which serves the Oklahoma City suburbs of Midwest City and Del City, would build two new elementary schools and upgrade all existing facilities. The proposal also includes $3 million for information technology upgrades.
The district said it would issue the $90.5 million as lease-revenue bonds and support the debt with proceeds from general obligation bonds over the next eight years. If voters approve, bond projects could get under way by January 2012, officials said.
Oklahoma County ISD 52’s general obligation debt is rated A1 by Moody’s Investors Service.
Voters failed to pass the district’s $191 million bond proposal in December 2010. A majority approved the debt, but the measure failed to achieve the required 60% majority by just 15 votes.