Tulsa’s new BOK Center has generated almost $1.1 million in city, county, and state sales tax revenue since it opened in August, provided through 26 ticketed events that includes concerts by Metallica and the Eagles, a circus, and minor league hockey games.
The city financed the arena with $141 million of proceeds from revenue bonds issued by Tulsa County in 2004, supported by the Vision 2025 sales tax package approved by county voters in September 2003.
In 2007, the Tulsa County Industrial Authority issued $33 million of tax revenue bonds to help pay construction overruns estimated at $45.5 million for the downtown arena and civic center complex. Unanticipated revenues from the Vision 2025 sales tax supported the new bonds.
The sales tax in Tulsa County is 8.517%, with 4.5 cents going to Oklahoma, 1.017 cents to Tulsa County, and three cents go to the city.
The Tulsa County Industrial Authority’s revenue bonds are rated AA-minus by Standard & Poor’s.
