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.

School bond elections in Oklahoma must be passed by 60% of those voting. The package won the approval of 59.6% of the voters.

Final totals were 2,464 in favor and 1,668 opposed.

The district, which serves the Oklahoma City suburbs of Midwest City and Del City, wanted the proceeds to build four elementary schools and expand two middle schools.

District spokeswoman Stacey Boyer said trustees would have to consider personnel cuts to mitigate the loss of savings expected to be realized by closing several older facilities.

"The patrons have clearly stated that their preference is to maintain existing facilities and, therefore, require the district to reduce expenditures through other means," Boyer said following the election.

"While all other cost-saving strategies will be explored, the reality that 90% of the district's current expenses are directly tied to people indicates that other options are extremely limited," she said.

The school district's general obligation debt is rated A1 by Moody's Investors Service.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.