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Oklahoma City voters have approved a $2.7 billion general obligation bond package, marking a significant investment in the city's infrastructure. During Tuesday's (October 14) election, all 11 propositions received overwhelming support, with each passing by at least 75% of the vote. The bond package aims to fund nearly 600 projects across the city, focusing primarily on infrastructure improvements.
The largest portion of the funds, approximately $1.35 billion, will be dedicated to street resurfacing and widening. Parks, facilities, and trails will receive about $414 million. The bond package also includes $50 million for affordable housing initiatives, aiming to address the city's housing crunch as the population continues to grow.
Mayor David Holt expressed gratitude to the voters for their support, stating, "This is an overwhelming mandate from the people of Oklahoma City that they believe in the direction that we are headed." The bond package will not increase property tax rates; instead, it will extend existing property taxes to finance the projects over the next 25 years.
The bond package's approval continues Oklahoma City's track record of supporting public funding measures, following successful bond initiatives in 2007 and 2017. The bonds will begin being issued next year, further shaping the city's future development and infrastructure improvements.