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Improvement Bonds -- Election

K
Kim@spadylaw.com
Wed, Feb 2, 2022 8:15 PM

Have any of your municipalities submitted the issue of improvement bonds
(resulting in increased ad valorem taxes) to a vote of the citizens? I know
it's an option but I really can't see it being approved in a small
municipality, especially.

Any experience or thoughts in general would be appreciated.

Thank you - stay warm,

Kim Spady

Have any of your municipalities submitted the issue of improvement bonds (resulting in increased ad valorem taxes) to a vote of the citizens? I know it's an option but I really can't see it being approved in a small municipality, especially. Any experience or thoughts in general would be appreciated. Thank you - stay warm, Kim Spady
DA
Douglas, Amy G
Wed, Feb 2, 2022 8:18 PM

I believe Oklahoma City has in conjunction with some of its TIF districts.  When we brought Devon's headquarters here, I believe we issued bonds to pay for lots of infrastructure improvements to the downtown area.

From: Kim@spadylaw.com Kim@spadylaw.com
Sent: Wednesday, February 2, 2022 2:15 PM
To: oama@lists.imla.org
Subject: [Oama] Improvement Bonds -- Election

Have any of your municipalities submitted the issue of improvement bonds (resulting in increased ad valorem taxes) to a vote of the citizens? I know it's an option but I really can't see it being approved in a small municipality, especially.

Any experience or thoughts in general would be appreciated.

Thank you - stay warm,
Kim Spady

CONFIDENTIALITY NOTE: This e-mail message and any attachments are intended solely for the person to which it is addressed and may contain privileged and confidential information protected by law. If you have received this communication in error, please notify the sender immediately by telephone or e-mail, destroy this message and delete any copies held in your electronic files. Unauthorized use and/or re-disclosure may subject you to penalties under applicable state and federal laws.

I believe Oklahoma City has in conjunction with some of its TIF districts. When we brought Devon's headquarters here, I believe we issued bonds to pay for lots of infrastructure improvements to the downtown area. From: Kim@spadylaw.com <Kim@spadylaw.com> Sent: Wednesday, February 2, 2022 2:15 PM To: oama@lists.imla.org Subject: [Oama] Improvement Bonds -- Election Have any of your municipalities submitted the issue of improvement bonds (resulting in increased ad valorem taxes) to a vote of the citizens? I know it's an option but I really can't see it being approved in a small municipality, especially. Any experience or thoughts in general would be appreciated. Thank you - stay warm, Kim Spady CONFIDENTIALITY NOTE: This e-mail message and any attachments are intended solely for the person to which it is addressed and may contain privileged and confidential information protected by law. If you have received this communication in error, please notify the sender immediately by telephone or e-mail, destroy this message and delete any copies held in your electronic files. Unauthorized use and/or re-disclosure may subject you to penalties under applicable state and federal laws.
WW
Williams, Wiley L
Wed, Feb 2, 2022 9:23 PM

The Devon Tower Construction resulted in the creation of Project 180, a City construction project which constructed certain required public improvements desired by Devon as an incentive for it to build its Tower in Oklahoma City.  Devon did not receive a dime from the TIF, but along with all other businesses and residences in Downtown Oklahoma City, benefitted from the improvements to streets, alleys, lighting, etc, performed under Project 180.  The funding for Project 180 was supported solely by the tax increment generated in Increment District No. 8 by the construction of the Devon Tower.  Since it would take up to 25 years to generate the money from the tax increment to cover all of the project costs, including Project 180, Devon agreed to fund a loan to the Economic Development Trust, secured by the future increment generated by the Devon Tower in Increment District No. 8.  In addition, Devon agreed to make minimum ad valorem tax payment to assure that adequate funds were available to cover the principal and interest on the loan.  However, the Economic Development Trust eventually did approve a  bond issue to take out the Devon loan, at much better interest.  The bond issue was not infrastructure improvement bonds as that term is used under state law.  It was more like a revenue bond, secured by the tax increment and a moral obligation by the City.  It was not submitted to or approved by a vote of the citizens.

I am not aware of any infrastructure improvement bonds submitted to a vote of the people. The City has backed improvement bonds (improvement District Bonds)  under 11 O.S. § 39-101.    One or more of the City's Trust may have issued public infrastructure or street bonds via a vote of the people, if so, I have not been involved in such action.

Wiley (Butch) Williams
Deputy Municipal Counselor
Doctor of Pharmacy
200 N. Walker. 4th Floor
Oklahoma City, Oklahoma 73102
Office 405-297-2685
Mobile 405-824-5198

From: Douglas, Amy G Amy.Douglas@okc.gov
Sent: Wednesday, February 2, 2022 2:19 PM
To: Kim@spadylaw.com; oama@lists.imla.org
Cc: Williams, Wiley L wiley.williams@okc.gov
Subject: RE: [Oama] Improvement Bonds -- Election

I believe Oklahoma City has in conjunction with some of its TIF districts.  When we brought Devon's headquarters here, I believe we issued bonds to pay for lots of infrastructure improvements to the downtown area.

From: Kim@spadylaw.commailto:Kim@spadylaw.com <Kim@spadylaw.commailto:Kim@spadylaw.com>
Sent: Wednesday, February 2, 2022 2:15 PM
To: oama@lists.imla.orgmailto:oama@lists.imla.org
Subject: [Oama] Improvement Bonds -- Election

Have any of your municipalities submitted the issue of improvement bonds (resulting in increased ad valorem taxes) to a vote of the citizens? I know it's an option but I really can't see it being approved in a small municipality, especially.

Any experience or thoughts in general would be appreciated.

Thank you - stay warm,
Kim Spady

CONFIDENTIALITY NOTE: This e-mail message and any attachments are intended solely for the person to which it is addressed and may contain privileged and confidential information protected by law. If you have received this communication in error, please notify the sender immediately by telephone or e-mail, destroy this message and delete any copies held in your electronic files. Unauthorized use and/or re-disclosure may subject you to penalties under applicable state and federal laws.

The Devon Tower Construction resulted in the creation of Project 180, a City construction project which constructed certain required public improvements desired by Devon as an incentive for it to build its Tower in Oklahoma City. Devon did not receive a dime from the TIF, but along with all other businesses and residences in Downtown Oklahoma City, benefitted from the improvements to streets, alleys, lighting, etc, performed under Project 180. The funding for Project 180 was supported solely by the tax increment generated in Increment District No. 8 by the construction of the Devon Tower. Since it would take up to 25 years to generate the money from the tax increment to cover all of the project costs, including Project 180, Devon agreed to fund a loan to the Economic Development Trust, secured by the future increment generated by the Devon Tower in Increment District No. 8. In addition, Devon agreed to make minimum ad valorem tax payment to assure that adequate funds were available to cover the principal and interest on the loan. However, the Economic Development Trust eventually did approve a bond issue to take out the Devon loan, at much better interest. The bond issue was not infrastructure improvement bonds as that term is used under state law. It was more like a revenue bond, secured by the tax increment and a moral obligation by the City. It was not submitted to or approved by a vote of the citizens. I am not aware of any infrastructure improvement bonds submitted to a vote of the people. The City has backed improvement bonds (improvement District Bonds) under 11 O.S. § 39-101. One or more of the City's Trust may have issued public infrastructure or street bonds via a vote of the people, if so, I have not been involved in such action. Wiley (Butch) Williams Deputy Municipal Counselor Doctor of Pharmacy 200 N. Walker. 4th Floor Oklahoma City, Oklahoma 73102 Office 405-297-2685 Mobile 405-824-5198 From: Douglas, Amy G <Amy.Douglas@okc.gov> Sent: Wednesday, February 2, 2022 2:19 PM To: Kim@spadylaw.com; oama@lists.imla.org Cc: Williams, Wiley L <wiley.williams@okc.gov> Subject: RE: [Oama] Improvement Bonds -- Election I believe Oklahoma City has in conjunction with some of its TIF districts. When we brought Devon's headquarters here, I believe we issued bonds to pay for lots of infrastructure improvements to the downtown area. From: Kim@spadylaw.com<mailto:Kim@spadylaw.com> <Kim@spadylaw.com<mailto:Kim@spadylaw.com>> Sent: Wednesday, February 2, 2022 2:15 PM To: oama@lists.imla.org<mailto:oama@lists.imla.org> Subject: [Oama] Improvement Bonds -- Election Have any of your municipalities submitted the issue of improvement bonds (resulting in increased ad valorem taxes) to a vote of the citizens? I know it's an option but I really can't see it being approved in a small municipality, especially. Any experience or thoughts in general would be appreciated. Thank you - stay warm, Kim Spady CONFIDENTIALITY NOTE: This e-mail message and any attachments are intended solely for the person to which it is addressed and may contain privileged and confidential information protected by law. If you have received this communication in error, please notify the sender immediately by telephone or e-mail, destroy this message and delete any copies held in your electronic files. Unauthorized use and/or re-disclosure may subject you to penalties under applicable state and federal laws.
JK
Jordan, Kenneth
Wed, Feb 2, 2022 9:34 PM

The bonds requiring voter approval are Oklahoma Const. Art. 10, Sec. 27 and Art. 10, Sec. 35.  OKC does those periodically.  The first step to take for issuing any type of bond requiring voter approval is to hire certified bond counsel.

Get Outlook for iOShttps://aka.ms/o0ukef


From: Williams, Wiley L wiley.williams@okc.gov
Sent: Wednesday, February 2, 2022 3:23:54 PM
To: Douglas, Amy G Amy.Douglas@okc.gov; Kim@spadylaw.com Kim@spadylaw.com; oama@lists.imla.org oama@lists.imla.org
Subject: [Oama] Re: Improvement Bonds -- Election

The Devon Tower Construction resulted in the creation of Project 180, a City construction project which constructed certain required public improvements desired by Devon as an incentive for it to build its Tower in Oklahoma City.  Devon did not receive a dime from the TIF, but along with all other businesses and residences in Downtown Oklahoma City, benefitted from the improvements to streets, alleys, lighting, etc, performed under Project 180.  The funding for Project 180 was supported solely by the tax increment generated in Increment District No. 8 by the construction of the Devon Tower.  Since it would take up to 25 years to generate the money from the tax increment to cover all of the project costs, including Project 180, Devon agreed to fund a loan to the Economic Development Trust, secured by the future increment generated by the Devon Tower in Increment District No. 8.  In addition, Devon agreed to make minimum ad valorem tax payment to assure that adequate funds were available to cover the principal and interest on the loan.  However, the Economic Development Trust eventually did approve a  bond issue to take out the Devon loan, at much better interest.  The bond issue was not infrastructure improvement bonds as that term is used under state law.  It was more like a revenue bond, secured by the tax increment and a moral obligation by the City.  It was not submitted to or approved by a vote of the citizens.

I am not aware of any infrastructure improvement bonds submitted to a vote of the people. The City has backed improvement bonds (improvement District Bonds)  under 11 O.S. § 39-101.    One or more of the City’s Trust may have issued public infrastructure or street bonds via a vote of the people, if so, I have not been involved in such action.

Wiley (Butch) Williams

Deputy Municipal Counselor

Doctor of Pharmacy

200 N. Walker. 4th Floor

Oklahoma City, Oklahoma 73102

Office 405-297-2685

Mobile 405-824-5198

From: Douglas, Amy G Amy.Douglas@okc.gov
Sent: Wednesday, February 2, 2022 2:19 PM
To: Kim@spadylaw.com; oama@lists.imla.org
Cc: Williams, Wiley L wiley.williams@okc.gov
Subject: RE: [Oama] Improvement Bonds -- Election

I believe Oklahoma City has in conjunction with some of its TIF districts.  When we brought Devon’s headquarters here, I believe we issued bonds to pay for lots of infrastructure improvements to the downtown area.

From: Kim@spadylaw.commailto:Kim@spadylaw.com <Kim@spadylaw.commailto:Kim@spadylaw.com>
Sent: Wednesday, February 2, 2022 2:15 PM
To: oama@lists.imla.orgmailto:oama@lists.imla.org
Subject: [Oama] Improvement Bonds -- Election

Have any of your municipalities submitted the issue of improvement bonds (resulting in increased ad valorem taxes) to a vote of the citizens? I know it’s an option but I really can’t see it being approved in a small municipality, especially.

Any experience or thoughts in general would be appreciated.

Thank you – stay warm,

Kim Spady

CONFIDENTIALITY NOTE: This e-mail message and any attachments are intended solely for the person to which it is addressed and may contain privileged and confidential information protected by law. If you have received this communication in error, please notify the sender immediately by telephone or e-mail, destroy this message and delete any copies held in your electronic files. Unauthorized use and/or re-disclosure may subject you to penalties under applicable state and federal laws.
CONFIDENTIALITY NOTE: This e-mail message and any attachments are intended solely for the person to which it is addressed and may contain privileged and confidential information protected by law. If you have received this communication in error, please notify the sender immediately by telephone or e-mail, destroy this message and delete any copies held in your electronic files. Unauthorized use and/or re-disclosure may subject you to penalties under applicable state and federal laws.

The bonds requiring voter approval are Oklahoma Const. Art. 10, Sec. 27 and Art. 10, Sec. 35. OKC does those periodically. The first step to take for issuing any type of bond requiring voter approval is to hire certified bond counsel. Get Outlook for iOS<https://aka.ms/o0ukef> ________________________________ From: Williams, Wiley L <wiley.williams@okc.gov> Sent: Wednesday, February 2, 2022 3:23:54 PM To: Douglas, Amy G <Amy.Douglas@okc.gov>; Kim@spadylaw.com <Kim@spadylaw.com>; oama@lists.imla.org <oama@lists.imla.org> Subject: [Oama] Re: Improvement Bonds -- Election The Devon Tower Construction resulted in the creation of Project 180, a City construction project which constructed certain required public improvements desired by Devon as an incentive for it to build its Tower in Oklahoma City. Devon did not receive a dime from the TIF, but along with all other businesses and residences in Downtown Oklahoma City, benefitted from the improvements to streets, alleys, lighting, etc, performed under Project 180. The funding for Project 180 was supported solely by the tax increment generated in Increment District No. 8 by the construction of the Devon Tower. Since it would take up to 25 years to generate the money from the tax increment to cover all of the project costs, including Project 180, Devon agreed to fund a loan to the Economic Development Trust, secured by the future increment generated by the Devon Tower in Increment District No. 8. In addition, Devon agreed to make minimum ad valorem tax payment to assure that adequate funds were available to cover the principal and interest on the loan. However, the Economic Development Trust eventually did approve a bond issue to take out the Devon loan, at much better interest. The bond issue was not infrastructure improvement bonds as that term is used under state law. It was more like a revenue bond, secured by the tax increment and a moral obligation by the City. It was not submitted to or approved by a vote of the citizens. I am not aware of any infrastructure improvement bonds submitted to a vote of the people. The City has backed improvement bonds (improvement District Bonds) under 11 O.S. § 39-101. One or more of the City’s Trust may have issued public infrastructure or street bonds via a vote of the people, if so, I have not been involved in such action. Wiley (Butch) Williams Deputy Municipal Counselor Doctor of Pharmacy 200 N. Walker. 4th Floor Oklahoma City, Oklahoma 73102 Office 405-297-2685 Mobile 405-824-5198 From: Douglas, Amy G <Amy.Douglas@okc.gov> Sent: Wednesday, February 2, 2022 2:19 PM To: Kim@spadylaw.com; oama@lists.imla.org Cc: Williams, Wiley L <wiley.williams@okc.gov> Subject: RE: [Oama] Improvement Bonds -- Election I believe Oklahoma City has in conjunction with some of its TIF districts. When we brought Devon’s headquarters here, I believe we issued bonds to pay for lots of infrastructure improvements to the downtown area. From: Kim@spadylaw.com<mailto:Kim@spadylaw.com> <Kim@spadylaw.com<mailto:Kim@spadylaw.com>> Sent: Wednesday, February 2, 2022 2:15 PM To: oama@lists.imla.org<mailto:oama@lists.imla.org> Subject: [Oama] Improvement Bonds -- Election Have any of your municipalities submitted the issue of improvement bonds (resulting in increased ad valorem taxes) to a vote of the citizens? I know it’s an option but I really can’t see it being approved in a small municipality, especially. Any experience or thoughts in general would be appreciated. Thank you – stay warm, Kim Spady CONFIDENTIALITY NOTE: This e-mail message and any attachments are intended solely for the person to which it is addressed and may contain privileged and confidential information protected by law. If you have received this communication in error, please notify the sender immediately by telephone or e-mail, destroy this message and delete any copies held in your electronic files. Unauthorized use and/or re-disclosure may subject you to penalties under applicable state and federal laws. CONFIDENTIALITY NOTE: This e-mail message and any attachments are intended solely for the person to which it is addressed and may contain privileged and confidential information protected by law. If you have received this communication in error, please notify the sender immediately by telephone or e-mail, destroy this message and delete any copies held in your electronic files. Unauthorized use and/or re-disclosure may subject you to penalties under applicable state and federal laws.
DA
Douglas, Amy G
Wed, Feb 2, 2022 9:37 PM

Well clearly I have a lot to re-learn!

Get Outlook for iOShttps://aka.ms/o0ukef


From: Jordan, Kenneth kenneth.jordan@okc.gov
Sent: Wednesday, February 2, 2022 3:34:00 PM
To: Williams, Wiley L wiley.williams@okc.gov; Douglas, Amy G Amy.Douglas@okc.gov; Kim@spadylaw.com Kim@spadylaw.com; oama@lists.imla.org oama@lists.imla.org
Subject: Re: [Oama] Re: Improvement Bonds -- Election

The bonds requiring voter approval are Oklahoma Const. Art. 10, Sec. 27 and Art. 10, Sec. 35.  OKC does those periodically.  The first step to take for issuing any type of bond requiring voter approval is to hire certified bond counsel.

Get Outlook for iOShttps://gcc02.safelinks.protection.outlook.com/?url=https%3A%2F%2Faka.ms%2Fo0ukef&data=04%7C01%7CAmy.Douglas%40okc.gov%7C51c0c48e5f0a46c1fa7108d9e693b9de%7C837e0d97dd9d4d0097e688f05a32ee59%7C0%7C0%7C637794344417834175%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&sdata=I3C7oQXZB%2BamSAEjE8IlTGD63SNhvPm4SrkLC8OZnJs%3D&reserved=0


From: Williams, Wiley L wiley.williams@okc.gov
Sent: Wednesday, February 2, 2022 3:23:54 PM
To: Douglas, Amy G Amy.Douglas@okc.gov; Kim@spadylaw.com Kim@spadylaw.com; oama@lists.imla.org oama@lists.imla.org
Subject: [Oama] Re: Improvement Bonds -- Election

The Devon Tower Construction resulted in the creation of Project 180, a City construction project which constructed certain required public improvements desired by Devon as an incentive for it to build its Tower in Oklahoma City.  Devon did not receive a dime from the TIF, but along with all other businesses and residences in Downtown Oklahoma City, benefitted from the improvements to streets, alleys, lighting, etc, performed under Project 180.  The funding for Project 180 was supported solely by the tax increment generated in Increment District No. 8 by the construction of the Devon Tower.  Since it would take up to 25 years to generate the money from the tax increment to cover all of the project costs, including Project 180, Devon agreed to fund a loan to the Economic Development Trust, secured by the future increment generated by the Devon Tower in Increment District No. 8.  In addition, Devon agreed to make minimum ad valorem tax payment to assure that adequate funds were available to cover the principal and interest on the loan.  However, the Economic Development Trust eventually did approve a  bond issue to take out the Devon loan, at much better interest.  The bond issue was not infrastructure improvement bonds as that term is used under state law.  It was more like a revenue bond, secured by the tax increment and a moral obligation by the City.  It was not submitted to or approved by a vote of the citizens.

I am not aware of any infrastructure improvement bonds submitted to a vote of the people. The City has backed improvement bonds (improvement District Bonds)  under 11 O.S. § 39-101.    One or more of the City’s Trust may have issued public infrastructure or street bonds via a vote of the people, if so, I have not been involved in such action.

Wiley (Butch) Williams

Deputy Municipal Counselor

Doctor of Pharmacy

200 N. Walker. 4th Floor

Oklahoma City, Oklahoma 73102

Office 405-297-2685

Mobile 405-824-5198

From: Douglas, Amy G Amy.Douglas@okc.gov
Sent: Wednesday, February 2, 2022 2:19 PM
To: Kim@spadylaw.com; oama@lists.imla.org
Cc: Williams, Wiley L wiley.williams@okc.gov
Subject: RE: [Oama] Improvement Bonds -- Election

I believe Oklahoma City has in conjunction with some of its TIF districts.  When we brought Devon’s headquarters here, I believe we issued bonds to pay for lots of infrastructure improvements to the downtown area.

From: Kim@spadylaw.commailto:Kim@spadylaw.com <Kim@spadylaw.commailto:Kim@spadylaw.com>
Sent: Wednesday, February 2, 2022 2:15 PM
To: oama@lists.imla.orgmailto:oama@lists.imla.org
Subject: [Oama] Improvement Bonds -- Election

Have any of your municipalities submitted the issue of improvement bonds (resulting in increased ad valorem taxes) to a vote of the citizens? I know it’s an option but I really can’t see it being approved in a small municipality, especially.

Any experience or thoughts in general would be appreciated.

Thank you – stay warm,

Kim Spady

CONFIDENTIALITY NOTE: This e-mail message and any attachments are intended solely for the person to which it is addressed and may contain privileged and confidential information protected by law. If you have received this communication in error, please notify the sender immediately by telephone or e-mail, destroy this message and delete any copies held in your electronic files. Unauthorized use and/or re-disclosure may subject you to penalties under applicable state and federal laws.
CONFIDENTIALITY NOTE: This e-mail message and any attachments are intended solely for the person to which it is addressed and may contain privileged and confidential information protected by law. If you have received this communication in error, please notify the sender immediately by telephone or e-mail, destroy this message and delete any copies held in your electronic files. Unauthorized use and/or re-disclosure may subject you to penalties under applicable state and federal laws.

Well clearly I have a lot to re-learn! Get Outlook for iOS<https://aka.ms/o0ukef> ________________________________ From: Jordan, Kenneth <kenneth.jordan@okc.gov> Sent: Wednesday, February 2, 2022 3:34:00 PM To: Williams, Wiley L <wiley.williams@okc.gov>; Douglas, Amy G <Amy.Douglas@okc.gov>; Kim@spadylaw.com <Kim@spadylaw.com>; oama@lists.imla.org <oama@lists.imla.org> Subject: Re: [Oama] Re: Improvement Bonds -- Election The bonds requiring voter approval are Oklahoma Const. Art. 10, Sec. 27 and Art. 10, Sec. 35. OKC does those periodically. The first step to take for issuing any type of bond requiring voter approval is to hire certified bond counsel. Get Outlook for iOS<https://gcc02.safelinks.protection.outlook.com/?url=https%3A%2F%2Faka.ms%2Fo0ukef&data=04%7C01%7CAmy.Douglas%40okc.gov%7C51c0c48e5f0a46c1fa7108d9e693b9de%7C837e0d97dd9d4d0097e688f05a32ee59%7C0%7C0%7C637794344417834175%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&sdata=I3C7oQXZB%2BamSAEjE8IlTGD63SNhvPm4SrkLC8OZnJs%3D&reserved=0> ________________________________ From: Williams, Wiley L <wiley.williams@okc.gov> Sent: Wednesday, February 2, 2022 3:23:54 PM To: Douglas, Amy G <Amy.Douglas@okc.gov>; Kim@spadylaw.com <Kim@spadylaw.com>; oama@lists.imla.org <oama@lists.imla.org> Subject: [Oama] Re: Improvement Bonds -- Election The Devon Tower Construction resulted in the creation of Project 180, a City construction project which constructed certain required public improvements desired by Devon as an incentive for it to build its Tower in Oklahoma City. Devon did not receive a dime from the TIF, but along with all other businesses and residences in Downtown Oklahoma City, benefitted from the improvements to streets, alleys, lighting, etc, performed under Project 180. The funding for Project 180 was supported solely by the tax increment generated in Increment District No. 8 by the construction of the Devon Tower. Since it would take up to 25 years to generate the money from the tax increment to cover all of the project costs, including Project 180, Devon agreed to fund a loan to the Economic Development Trust, secured by the future increment generated by the Devon Tower in Increment District No. 8. In addition, Devon agreed to make minimum ad valorem tax payment to assure that adequate funds were available to cover the principal and interest on the loan. However, the Economic Development Trust eventually did approve a bond issue to take out the Devon loan, at much better interest. The bond issue was not infrastructure improvement bonds as that term is used under state law. It was more like a revenue bond, secured by the tax increment and a moral obligation by the City. It was not submitted to or approved by a vote of the citizens. I am not aware of any infrastructure improvement bonds submitted to a vote of the people. The City has backed improvement bonds (improvement District Bonds) under 11 O.S. § 39-101. One or more of the City’s Trust may have issued public infrastructure or street bonds via a vote of the people, if so, I have not been involved in such action. Wiley (Butch) Williams Deputy Municipal Counselor Doctor of Pharmacy 200 N. Walker. 4th Floor Oklahoma City, Oklahoma 73102 Office 405-297-2685 Mobile 405-824-5198 From: Douglas, Amy G <Amy.Douglas@okc.gov> Sent: Wednesday, February 2, 2022 2:19 PM To: Kim@spadylaw.com; oama@lists.imla.org Cc: Williams, Wiley L <wiley.williams@okc.gov> Subject: RE: [Oama] Improvement Bonds -- Election I believe Oklahoma City has in conjunction with some of its TIF districts. When we brought Devon’s headquarters here, I believe we issued bonds to pay for lots of infrastructure improvements to the downtown area. From: Kim@spadylaw.com<mailto:Kim@spadylaw.com> <Kim@spadylaw.com<mailto:Kim@spadylaw.com>> Sent: Wednesday, February 2, 2022 2:15 PM To: oama@lists.imla.org<mailto:oama@lists.imla.org> Subject: [Oama] Improvement Bonds -- Election Have any of your municipalities submitted the issue of improvement bonds (resulting in increased ad valorem taxes) to a vote of the citizens? I know it’s an option but I really can’t see it being approved in a small municipality, especially. Any experience or thoughts in general would be appreciated. Thank you – stay warm, Kim Spady CONFIDENTIALITY NOTE: This e-mail message and any attachments are intended solely for the person to which it is addressed and may contain privileged and confidential information protected by law. If you have received this communication in error, please notify the sender immediately by telephone or e-mail, destroy this message and delete any copies held in your electronic files. Unauthorized use and/or re-disclosure may subject you to penalties under applicable state and federal laws. CONFIDENTIALITY NOTE: This e-mail message and any attachments are intended solely for the person to which it is addressed and may contain privileged and confidential information protected by law. If you have received this communication in error, please notify the sender immediately by telephone or e-mail, destroy this message and delete any copies held in your electronic files. Unauthorized use and/or re-disclosure may subject you to penalties under applicable state and federal laws.
RT
Robert Thompson
Wed, Feb 2, 2022 9:56 PM

Contact Rick Smith

Sent from my iPhone

On Feb 2, 2022, at 3:37 PM, Douglas, Amy G Amy.Douglas@okc.gov wrote:


Well clearly I have a lot to re-learn!

Get Outlook for iOShttps://aka.ms/o0ukef


From: Jordan, Kenneth kenneth.jordan@okc.gov
Sent: Wednesday, February 2, 2022 3:34:00 PM
To: Williams, Wiley L wiley.williams@okc.gov; Douglas, Amy G Amy.Douglas@okc.gov; Kim@spadylaw.com Kim@spadylaw.com; oama@lists.imla.org oama@lists.imla.org
Subject: Re: [Oama] Re: Improvement Bonds -- Election

The bonds requiring voter approval are Oklahoma Const. Art. 10, Sec. 27 and Art. 10, Sec. 35.  OKC does those periodically.  The first step to take for issuing any type of bond requiring voter approval is to hire certified bond counsel.

Get Outlook for iOShttps://gcc02.safelinks.protection.outlook.com/?url=https%3A%2F%2Faka.ms%2Fo0ukef&data=04%7C01%7CAmy.Douglas%40okc.gov%7C51c0c48e5f0a46c1fa7108d9e693b9de%7C837e0d97dd9d4d0097e688f05a32ee59%7C0%7C0%7C637794344417834175%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&sdata=I3C7oQXZB%2BamSAEjE8IlTGD63SNhvPm4SrkLC8OZnJs%3D&reserved=0


From: Williams, Wiley L wiley.williams@okc.gov
Sent: Wednesday, February 2, 2022 3:23:54 PM
To: Douglas, Amy G Amy.Douglas@okc.gov; Kim@spadylaw.com Kim@spadylaw.com; oama@lists.imla.org oama@lists.imla.org
Subject: [Oama] Re: Improvement Bonds -- Election

The Devon Tower Construction resulted in the creation of Project 180, a City construction project which constructed certain required public improvements desired by Devon as an incentive for it to build its Tower in Oklahoma City.  Devon did not receive a dime from the TIF, but along with all other businesses and residences in Downtown Oklahoma City, benefitted from the improvements to streets, alleys, lighting, etc, performed under Project 180.  The funding for Project 180 was supported solely by the tax increment generated in Increment District No. 8 by the construction of the Devon Tower.  Since it would take up to 25 years to generate the money from the tax increment to cover all of the project costs, including Project 180, Devon agreed to fund a loan to the Economic Development Trust, secured by the future increment generated by the Devon Tower in Increment District No. 8.  In addition, Devon agreed to make minimum ad valorem tax payment to assure that adequate funds were available to cover the principal and interest on the loan.  However, the Economic Development Trust eventually did approve a  bond issue to take out the Devon loan, at much better interest.  The bond issue was not infrastructure improvement bonds as that term is used under state law.  It was more like a revenue bond, secured by the tax increment and a moral obligation by the City.  It was not submitted to or approved by a vote of the citizens.

I am not aware of any infrastructure improvement bonds submitted to a vote of the people. The City has backed improvement bonds (improvement District Bonds)  under 11 O.S. § 39-101.    One or more of the City’s Trust may have issued public infrastructure or street bonds via a vote of the people, if so, I have not been involved in such action.

Wiley (Butch) Williams

Deputy Municipal Counselor

Doctor of Pharmacy

200 N. Walker. 4th Floor

Oklahoma City, Oklahoma 73102

Office 405-297-2685

Mobile 405-824-5198

From: Douglas, Amy G Amy.Douglas@okc.gov
Sent: Wednesday, February 2, 2022 2:19 PM
To: Kim@spadylaw.com; oama@lists.imla.org
Cc: Williams, Wiley L wiley.williams@okc.gov
Subject: RE: [Oama] Improvement Bonds -- Election

I believe Oklahoma City has in conjunction with some of its TIF districts.  When we brought Devon’s headquarters here, I believe we issued bonds to pay for lots of infrastructure improvements to the downtown area.

From: Kim@spadylaw.commailto:Kim@spadylaw.com <Kim@spadylaw.commailto:Kim@spadylaw.com>
Sent: Wednesday, February 2, 2022 2:15 PM
To: oama@lists.imla.orgmailto:oama@lists.imla.org
Subject: [Oama] Improvement Bonds -- Election

Have any of your municipalities submitted the issue of improvement bonds (resulting in increased ad valorem taxes) to a vote of the citizens? I know it’s an option but I really can’t see it being approved in a small municipality, especially.

Any experience or thoughts in general would be appreciated.

Thank you – stay warm,

Kim Spady

CONFIDENTIALITY NOTE: This e-mail message and any attachments are intended solely for the person to which it is addressed and may contain privileged and confidential information protected by law. If you have received this communication in error, please notify the sender immediately by telephone or e-mail, destroy this message and delete any copies held in your electronic files. Unauthorized use and/or re-disclosure may subject you to penalties under applicable state and federal laws.
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To unsubscribe send an email to oama-leave@lists.imla.org

Contact Rick Smith Sent from my iPhone On Feb 2, 2022, at 3:37 PM, Douglas, Amy G <Amy.Douglas@okc.gov> wrote:  Well clearly I have a lot to re-learn! Get Outlook for iOS<https://aka.ms/o0ukef> ________________________________ From: Jordan, Kenneth <kenneth.jordan@okc.gov> Sent: Wednesday, February 2, 2022 3:34:00 PM To: Williams, Wiley L <wiley.williams@okc.gov>; Douglas, Amy G <Amy.Douglas@okc.gov>; Kim@spadylaw.com <Kim@spadylaw.com>; oama@lists.imla.org <oama@lists.imla.org> Subject: Re: [Oama] Re: Improvement Bonds -- Election The bonds requiring voter approval are Oklahoma Const. Art. 10, Sec. 27 and Art. 10, Sec. 35. OKC does those periodically. The first step to take for issuing any type of bond requiring voter approval is to hire certified bond counsel. Get Outlook for iOS<https://gcc02.safelinks.protection.outlook.com/?url=https%3A%2F%2Faka.ms%2Fo0ukef&data=04%7C01%7CAmy.Douglas%40okc.gov%7C51c0c48e5f0a46c1fa7108d9e693b9de%7C837e0d97dd9d4d0097e688f05a32ee59%7C0%7C0%7C637794344417834175%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&sdata=I3C7oQXZB%2BamSAEjE8IlTGD63SNhvPm4SrkLC8OZnJs%3D&reserved=0> ________________________________ From: Williams, Wiley L <wiley.williams@okc.gov> Sent: Wednesday, February 2, 2022 3:23:54 PM To: Douglas, Amy G <Amy.Douglas@okc.gov>; Kim@spadylaw.com <Kim@spadylaw.com>; oama@lists.imla.org <oama@lists.imla.org> Subject: [Oama] Re: Improvement Bonds -- Election The Devon Tower Construction resulted in the creation of Project 180, a City construction project which constructed certain required public improvements desired by Devon as an incentive for it to build its Tower in Oklahoma City. Devon did not receive a dime from the TIF, but along with all other businesses and residences in Downtown Oklahoma City, benefitted from the improvements to streets, alleys, lighting, etc, performed under Project 180. The funding for Project 180 was supported solely by the tax increment generated in Increment District No. 8 by the construction of the Devon Tower. Since it would take up to 25 years to generate the money from the tax increment to cover all of the project costs, including Project 180, Devon agreed to fund a loan to the Economic Development Trust, secured by the future increment generated by the Devon Tower in Increment District No. 8. In addition, Devon agreed to make minimum ad valorem tax payment to assure that adequate funds were available to cover the principal and interest on the loan. However, the Economic Development Trust eventually did approve a bond issue to take out the Devon loan, at much better interest. The bond issue was not infrastructure improvement bonds as that term is used under state law. It was more like a revenue bond, secured by the tax increment and a moral obligation by the City. It was not submitted to or approved by a vote of the citizens. I am not aware of any infrastructure improvement bonds submitted to a vote of the people. The City has backed improvement bonds (improvement District Bonds) under 11 O.S. § 39-101. One or more of the City’s Trust may have issued public infrastructure or street bonds via a vote of the people, if so, I have not been involved in such action. Wiley (Butch) Williams Deputy Municipal Counselor Doctor of Pharmacy 200 N. Walker. 4th Floor Oklahoma City, Oklahoma 73102 Office 405-297-2685 Mobile 405-824-5198 From: Douglas, Amy G <Amy.Douglas@okc.gov> Sent: Wednesday, February 2, 2022 2:19 PM To: Kim@spadylaw.com; oama@lists.imla.org Cc: Williams, Wiley L <wiley.williams@okc.gov> Subject: RE: [Oama] Improvement Bonds -- Election I believe Oklahoma City has in conjunction with some of its TIF districts. When we brought Devon’s headquarters here, I believe we issued bonds to pay for lots of infrastructure improvements to the downtown area. From: Kim@spadylaw.com<mailto:Kim@spadylaw.com> <Kim@spadylaw.com<mailto:Kim@spadylaw.com>> Sent: Wednesday, February 2, 2022 2:15 PM To: oama@lists.imla.org<mailto:oama@lists.imla.org> Subject: [Oama] Improvement Bonds -- Election Have any of your municipalities submitted the issue of improvement bonds (resulting in increased ad valorem taxes) to a vote of the citizens? I know it’s an option but I really can’t see it being approved in a small municipality, especially. Any experience or thoughts in general would be appreciated. Thank you – stay warm, Kim Spady CONFIDENTIALITY NOTE: This e-mail message and any attachments are intended solely for the person to which it is addressed and may contain privileged and confidential information protected by law. If you have received this communication in error, please notify the sender immediately by telephone or e-mail, destroy this message and delete any copies held in your electronic files. Unauthorized use and/or re-disclosure may subject you to penalties under applicable state and federal laws. CONFIDENTIALITY NOTE: This e-mail message and any attachments are intended solely for the person to which it is addressed and may contain privileged and confidential information protected by law. If you have received this communication in error, please notify the sender immediately by telephone or e-mail, destroy this message and delete any copies held in your electronic files. Unauthorized use and/or re-disclosure may subject you to penalties under applicable state and federal laws. -- Oama mailing list -- oama@lists.imla.org To unsubscribe send an email to oama-leave@lists.imla.org
JB
Jeff Bryant
Wed, Feb 2, 2022 10:11 PM

Bonds secured by ad valorem taxes are General Obligation bonds allowed under the Constitutional Sections referenced by Kenny.  Depending on the public improvement being made, so require simple majority voter approval and some require a 60% voter approval.

Because they are funded by ad valorem tax increases over 20 to 30 year periods, it is important to have a professional assessment of the property tax base in your city with a good analysis of how much revenue can be feasibly generated. Rick Smith’s Financial Advisor firm can help with that as can bond counsel.

So, check your Municipal ad valorem base, estimate the value of your public improvement, get some financial advisor recommendations regarding feasibility, check with Bond Counsel on voter passage requirements.

Hope this helps.

Jeff Harley Bryant

On Feb 2, 2022, at 3:57 PM, Robert Thompson rthompson@cheekfalcone.com wrote:

 Contact Rick Smith

Sent from my iPhone

On Feb 2, 2022, at 3:37 PM, Douglas, Amy G Amy.Douglas@okc.gov wrote:


Well clearly I have a lot to re-learn!

Get Outlook for iOShttps://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Faka.ms%2Fo0ukef&data=04%7C01%7Cjbryant%40omag.org%7C50e9527031e64419619408d9e696f2c0%7Cb13aadd514d84b918cf485be9d556ad7%7C1%7C0%7C637794358276069371%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=KV2r1agQBjpryQsO6dfcmlrv9ronwgfivGzTKWmXXuQ%3D&reserved=0


From: Jordan, Kenneth kenneth.jordan@okc.gov
Sent: Wednesday, February 2, 2022 3:34:00 PM
To: Williams, Wiley L wiley.williams@okc.gov; Douglas, Amy G Amy.Douglas@okc.gov; Kim@spadylaw.com Kim@spadylaw.com; oama@lists.imla.org oama@lists.imla.org
Subject: Re: [Oama] Re: Improvement Bonds -- Election

The bonds requiring voter approval are Oklahoma Const. Art. 10, Sec. 27 and Art. 10, Sec. 35.  OKC does those periodically.  The first step to take for issuing any type of bond requiring voter approval is to hire certified bond counsel.

Get Outlook for iOShttps://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Faka.ms%2Fo0ukef&data=04%7C01%7Cjbryant%40omag.org%7C50e9527031e64419619408d9e696f2c0%7Cb13aadd514d84b918cf485be9d556ad7%7C1%7C0%7C637794358276069371%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=KV2r1agQBjpryQsO6dfcmlrv9ronwgfivGzTKWmXXuQ%3D&reserved=0


From: Williams, Wiley L wiley.williams@okc.gov
Sent: Wednesday, February 2, 2022 3:23:54 PM
To: Douglas, Amy G Amy.Douglas@okc.gov; Kim@spadylaw.com Kim@spadylaw.com; oama@lists.imla.org oama@lists.imla.org
Subject: [Oama] Re: Improvement Bonds -- Election

The Devon Tower Construction resulted in the creation of Project 180, a City construction project which constructed certain required public improvements desired by Devon as an incentive for it to build its Tower in Oklahoma City.  Devon did not receive a dime from the TIF, but along with all other businesses and residences in Downtown Oklahoma City, benefitted from the improvements to streets, alleys, lighting, etc, performed under Project 180.  The funding for Project 180 was supported solely by the tax increment generated in Increment District No. 8 by the construction of the Devon Tower.  Since it would take up to 25 years to generate the money from the tax increment to cover all of the project costs, including Project 180, Devon agreed to fund a loan to the Economic Development Trust, secured by the future increment generated by the Devon Tower in Increment District No. 8.  In addition, Devon agreed to make minimum ad valorem tax payment to assure that adequate funds were available to cover the principal and interest on the loan.  However, the Economic Development Trust eventually did approve a  bond issue to take out the Devon loan, at much better interest.  The bond issue was not infrastructure improvement bonds as that term is used under state law.  It was more like a revenue bond, secured by the tax increment and a moral obligation by the City.  It was not submitted to or approved by a vote of the citizens.

I am not aware of any infrastructure improvement bonds submitted to a vote of the people. The City has backed improvement bonds (improvement District Bonds)  under 11 O.S. § 39-101.    One or more of the City’s Trust may have issued public infrastructure or street bonds via a vote of the people, if so, I have not been involved in such action.

Wiley (Butch) Williams

Deputy Municipal Counselor

Doctor of Pharmacy

200 N. Walker. 4th Floor

Oklahoma City, Oklahoma 73102

Office 405-297-2685

Mobile 405-824-5198

From: Douglas, Amy G Amy.Douglas@okc.gov
Sent: Wednesday, February 2, 2022 2:19 PM
To: Kim@spadylaw.com; oama@lists.imla.org
Cc: Williams, Wiley L wiley.williams@okc.gov
Subject: RE: [Oama] Improvement Bonds -- Election

I believe Oklahoma City has in conjunction with some of its TIF districts.  When we brought Devon’s headquarters here, I believe we issued bonds to pay for lots of infrastructure improvements to the downtown area.

From: Kim@spadylaw.commailto:Kim@spadylaw.com <Kim@spadylaw.commailto:Kim@spadylaw.com>
Sent: Wednesday, February 2, 2022 2:15 PM
To: oama@lists.imla.orgmailto:oama@lists.imla.org
Subject: [Oama] Improvement Bonds -- Election

Have any of your municipalities submitted the issue of improvement bonds (resulting in increased ad valorem taxes) to a vote of the citizens? I know it’s an option but I really can’t see it being approved in a small municipality, especially.

Any experience or thoughts in general would be appreciated.

Thank you – stay warm,

Kim Spady

CONFIDENTIALITY NOTE: This e-mail message and any attachments are intended solely for the person to which it is addressed and may contain privileged and confidential information protected by law. If you have received this communication in error, please notify the sender immediately by telephone or e-mail, destroy this message and delete any copies held in your electronic files. Unauthorized use and/or re-disclosure may subject you to penalties under applicable state and federal laws.
CONFIDENTIALITY NOTE: This e-mail message and any attachments are intended solely for the person to which it is addressed and may contain privileged and confidential information protected by law. If you have received this communication in error, please notify the sender immediately by telephone or e-mail, destroy this message and delete any copies held in your electronic files. Unauthorized use and/or re-disclosure may subject you to penalties under applicable state and federal laws. --
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To unsubscribe send an email to oama-leave@lists.imla.org

Oama mailing list -- oama@lists.imla.org
To unsubscribe send an email to oama-leave@lists.imla.org

Bonds secured by ad valorem taxes are General Obligation bonds allowed under the Constitutional Sections referenced by Kenny. Depending on the public improvement being made, so require simple majority voter approval and some require a 60% voter approval. Because they are funded by ad valorem tax increases over 20 to 30 year periods, it is important to have a professional assessment of the property tax base in your city with a good analysis of how much revenue can be feasibly generated. Rick Smith’s Financial Advisor firm can help with that as can bond counsel. So, check your Municipal ad valorem base, estimate the value of your public improvement, get some financial advisor recommendations regarding feasibility, check with Bond Counsel on voter passage requirements. Hope this helps. Jeff Harley Bryant On Feb 2, 2022, at 3:57 PM, Robert Thompson <rthompson@cheekfalcone.com> wrote:  Contact Rick Smith Sent from my iPhone On Feb 2, 2022, at 3:37 PM, Douglas, Amy G <Amy.Douglas@okc.gov> wrote:  Well clearly I have a lot to re-learn! Get Outlook for iOS<https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Faka.ms%2Fo0ukef&data=04%7C01%7Cjbryant%40omag.org%7C50e9527031e64419619408d9e696f2c0%7Cb13aadd514d84b918cf485be9d556ad7%7C1%7C0%7C637794358276069371%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=KV2r1agQBjpryQsO6dfcmlrv9ronwgfivGzTKWmXXuQ%3D&reserved=0> ________________________________ From: Jordan, Kenneth <kenneth.jordan@okc.gov> Sent: Wednesday, February 2, 2022 3:34:00 PM To: Williams, Wiley L <wiley.williams@okc.gov>; Douglas, Amy G <Amy.Douglas@okc.gov>; Kim@spadylaw.com <Kim@spadylaw.com>; oama@lists.imla.org <oama@lists.imla.org> Subject: Re: [Oama] Re: Improvement Bonds -- Election The bonds requiring voter approval are Oklahoma Const. Art. 10, Sec. 27 and Art. 10, Sec. 35. OKC does those periodically. The first step to take for issuing any type of bond requiring voter approval is to hire certified bond counsel. Get Outlook for iOS<https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Faka.ms%2Fo0ukef&data=04%7C01%7Cjbryant%40omag.org%7C50e9527031e64419619408d9e696f2c0%7Cb13aadd514d84b918cf485be9d556ad7%7C1%7C0%7C637794358276069371%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=KV2r1agQBjpryQsO6dfcmlrv9ronwgfivGzTKWmXXuQ%3D&reserved=0> ________________________________ From: Williams, Wiley L <wiley.williams@okc.gov> Sent: Wednesday, February 2, 2022 3:23:54 PM To: Douglas, Amy G <Amy.Douglas@okc.gov>; Kim@spadylaw.com <Kim@spadylaw.com>; oama@lists.imla.org <oama@lists.imla.org> Subject: [Oama] Re: Improvement Bonds -- Election The Devon Tower Construction resulted in the creation of Project 180, a City construction project which constructed certain required public improvements desired by Devon as an incentive for it to build its Tower in Oklahoma City. Devon did not receive a dime from the TIF, but along with all other businesses and residences in Downtown Oklahoma City, benefitted from the improvements to streets, alleys, lighting, etc, performed under Project 180. The funding for Project 180 was supported solely by the tax increment generated in Increment District No. 8 by the construction of the Devon Tower. Since it would take up to 25 years to generate the money from the tax increment to cover all of the project costs, including Project 180, Devon agreed to fund a loan to the Economic Development Trust, secured by the future increment generated by the Devon Tower in Increment District No. 8. In addition, Devon agreed to make minimum ad valorem tax payment to assure that adequate funds were available to cover the principal and interest on the loan. However, the Economic Development Trust eventually did approve a bond issue to take out the Devon loan, at much better interest. The bond issue was not infrastructure improvement bonds as that term is used under state law. It was more like a revenue bond, secured by the tax increment and a moral obligation by the City. It was not submitted to or approved by a vote of the citizens. I am not aware of any infrastructure improvement bonds submitted to a vote of the people. The City has backed improvement bonds (improvement District Bonds) under 11 O.S. § 39-101. One or more of the City’s Trust may have issued public infrastructure or street bonds via a vote of the people, if so, I have not been involved in such action. Wiley (Butch) Williams Deputy Municipal Counselor Doctor of Pharmacy 200 N. Walker. 4th Floor Oklahoma City, Oklahoma 73102 Office 405-297-2685 Mobile 405-824-5198 From: Douglas, Amy G <Amy.Douglas@okc.gov> Sent: Wednesday, February 2, 2022 2:19 PM To: Kim@spadylaw.com; oama@lists.imla.org Cc: Williams, Wiley L <wiley.williams@okc.gov> Subject: RE: [Oama] Improvement Bonds -- Election I believe Oklahoma City has in conjunction with some of its TIF districts. When we brought Devon’s headquarters here, I believe we issued bonds to pay for lots of infrastructure improvements to the downtown area. From: Kim@spadylaw.com<mailto:Kim@spadylaw.com> <Kim@spadylaw.com<mailto:Kim@spadylaw.com>> Sent: Wednesday, February 2, 2022 2:15 PM To: oama@lists.imla.org<mailto:oama@lists.imla.org> Subject: [Oama] Improvement Bonds -- Election Have any of your municipalities submitted the issue of improvement bonds (resulting in increased ad valorem taxes) to a vote of the citizens? I know it’s an option but I really can’t see it being approved in a small municipality, especially. Any experience or thoughts in general would be appreciated. Thank you – stay warm, Kim Spady CONFIDENTIALITY NOTE: This e-mail message and any attachments are intended solely for the person to which it is addressed and may contain privileged and confidential information protected by law. If you have received this communication in error, please notify the sender immediately by telephone or e-mail, destroy this message and delete any copies held in your electronic files. Unauthorized use and/or re-disclosure may subject you to penalties under applicable state and federal laws. CONFIDENTIALITY NOTE: This e-mail message and any attachments are intended solely for the person to which it is addressed and may contain privileged and confidential information protected by law. If you have received this communication in error, please notify the sender immediately by telephone or e-mail, destroy this message and delete any copies held in your electronic files. Unauthorized use and/or re-disclosure may subject you to penalties under applicable state and federal laws. -- Oama mailing list -- oama@lists.imla.org To unsubscribe send an email to oama-leave@lists.imla.org -- Oama mailing list -- oama@lists.imla.org To unsubscribe send an email to oama-leave@lists.imla.org