Tulsa, Okla.'s plan to extend two sales taxes to support $800 million capital improvements program of street repairs and facilities upgrades may go to voters as two separate initiatives.
Councilor G.T. Bynum last week suggested a November election for a $418.7 million street maintenance effort financed with $355 million of general obligation bonds and $63.7 million from the extension of a 0.167% sales tax to 2019.
An election on extending a 1% city sales tax to support a $387 million capital improvements package would be deferred until April 2014 under Bynum's plan.
Tulsa Mayor Dewey Bartlett originally proposed an $800 million program supported by bonds and the two sales taxes.
Earlier this month Bartlett said revenues from the 0.167% tax should be dedicated to expanding the city's police and firefighting academies. If the sales tax extension is a separate ballot item, the proposed 2015-2019 program would be reduced to $740 million.
The streets effort would cost between $470 million and $670 million of the total capital package, city officials said. Other projects would be selected for a list totaling $806 million. Tulsa has until early September to call for a Nov. 12 election on a capital program.
Tulsa's $481 million of outstanding GO debt is rated Aa1 by Moody's Investors Service and AA by Standard & Poor's.
