Bond Transparency Act Information

Details

In accordance with the Bond Transparency Act of 2017, please see the information below:

Date of Posting: September 11, 2023

Election on September 12, 2023:

PROPOSITION
Shall the City of Lawton, State of Oklahoma, incur an indebtedness by issuing its general obligation bonds in the amount of Sixty Million Dollars ($60,000,000) in one or more series in order to fund construction, reconstruction, improvements or repairs to be made to the City’s streets and roadways and bridges including right of way acquisition, and including purchasing or constructing or repairing City utilities under and adjacent to such streets and roadways and bridges, such utilities to be owned exclusively by said City, said projects as deemed appropriate and prioritized by the City’s governing body from time to time, with or without the use of other funds; or in the alternative acquire all or a distinct portion thereof by lease purchase arrangement; and levy and collect a tax payable annually, in addition to all other taxes, upon all the taxable property in said City sufficient to pay the interest on said bonds as it falls due and also to constitute a sinking fund for the payment of the principal thereof when due, said bonds to bear interest at the rate not to exceed ten per centum (10%) per annum, payable semiannually and to become due within Twenty-Five years (25) years from their date.

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