TULSA — Voters who braved the cold for an off-year bond election overwhelmingly passed three propositions extending the Improve Our Tulsa package Tuesday.
The three bonds approved include one which addresses streets and transportation systems, a second which will fund improvements to parks and replace old city vehicles, and a third which directs new money into the city's “rainy day” fund.
The list of projects is extensive; about 70% of the money, however, is earmarked for roads and transportation, a priority clearly established by voters during a series of town hall meetings held by the mayor and city council before - and after - they drafted the proposal.
The majority of the funds will come from bond sales, funded by property taxes; the rest from the extension of existing sales taxes.
The city's sales tax rate will remain the same, however the .05 cent (one-twentieth of a penny) sales tax which will fund the “rainy day” account becomes permanent.
The Improve Our Tulsa package has a timetable of about six and a half years, at a cost of an estimated $639 million.