Tuesday, March 5, there will be a special election in Oklahoma City. This is what will be on the ballot. Metro Tech wants to issue property tax bonds in order to build, grow, and maintain their facility. I do not live in Oklahoma City proper so I will not be voting on this; but if did. . . . I would want to know: 1-Will this measure increase my property taxes? 2-Will it devalue my property by issuing bonds based on my property taxes? 3-Why Metro Tech grow and maintain their facility using the tuition they now charge?
Here is the text of the measure if you cannot read the image:
"Shall Metro Technology Centers School District 22 of Oklahoma County, Oklahoma, incur an indebtedness pursuant to Article X, Section 9B of the Oklahoma Constitution by issuing it's bonds in the aggregate principle sum of eighty million dollars, (80,000,000), to provide funds for the purposes of constructing, equipping, and improving real property and school buildings, and levy and collect an annual tax, in addition to all other taxes, upon all the taxable property in such District sufficient to pay the costs of issuance and interest on such bonds as it fails due and also to constitute a sinking fund for the payment of the principal thereof when due, said bonds to bear interest not to exceed the rate of ten percent, (10%) per annum, payable semi-annually and to become due serially within ten (10) years from their date?"