Voters handily approved a request last week for $90.5 million of general obligation bonds by Oklahoma County Independent School District No. 52. The measure passed with 81% in favor from the more than 4,300 voters going to the polls.
Interim superintendent Pam Tidwell said the large victory margin was the result of a new assessment of the district’s needs after voters rejected a $191 million bond proposal in December 2010.
The district, which serves the Oklahoma City suburbs of Midwest City and Del City, said it would issue the first $8 million tranche of the authorization in January.
The debt will be issued as lease-revenue bonds and supported with proceeds from GOs over the next eight years. The bond projects are expected to be underway in early 2012, officials said.
Bond proceeds will pay for the construction of two schools and renovations throughout the district.
Oklahoma County ISD 52’s general obligation debt is rated A1 by Moody’s Investors Service.