More than 75% of Shawnee, Okla., voters last week rejected proposed increases in their property and sales taxes to support $50 million of bonds for civic projects.

The five proposals would have been supported by a 10-year, 0.5% sales tax hike and up to a 20-year, 12% increase in property taxes.

The sales tax was earmarked for $21.5 million of bonds to finance construction of a $19 million sports park and improvements to the Heart of Oklahoma Exposition Center.

City manager Brian McDougal said the additional tax would generate $2.5 million a year.

Proceeds from the general obligation bonds supported by the proposed property tax increase would have financed $13 million of street projects, $5 million of economic development projects, and $3 million of upgrades to the city’s emergency radio system.

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.