Right now, the City Council and Administration are in the initial stages of preparing a new package of General Obligation Bond projects for voter approval in the summer of 2018.
Broken Arrow residents have a history of approving general obligation and revenue bond issues for the City of Broken Arrow. With the passage of these bond issues, the City is able to improve infrastructure and keep up with the rapid growth occurring in Broken Arrow.
A general obligation bond, or GO Bond, is a common financing tool local and state governments use to fund certain projects, namely large capital improvements like roads, bridges, flood control, parks and public buildings.
In Oklahoma, the property tax received by the City, also known as ad valorem tax, is used to pay the interest and principal on GO Bonds. GO Bonds must be approved by a vote of the people.