JENKS -- Monday night, Jenks city councilors approved an October bond issue for street and sanitary sewer improvements, totaling nearly $14 million.
The first proposition is for $11.7 million, which will go toward streets and infrastructure projects. A second proposition for $2.060 million will improve sanitary sewers and lift stations around Jenks.
Street projects will include two miles of street widening and resurfacing along Main Street from Elm Street to U.S. 75; improvements at 111th and Elwood Ave. and Elwood Ave. and U.S. 75 intersections; and repairs to Elwood Avenue from 111th Street to Main Street and 101st Street from Elm to the Arkansas River.
Jenks City Attorney Stephen Oakley said federal participation will more than double the bond’s impact on Jenks roads and infrastructure.
“Most of the road projects have federal participating funds,” Oakley said. “So we will pay 20 and they pay 80 percent. We have several modifications planned around Elm Street and the Creek Turnpike, and those funds are expected to expand $5 to 8 million. So, even though the bond issue is $11.7 million, it will leverage out to about $30 million.”
The last city bond issue Jenks took to the voters was in the fall of 2011, and it did not pass.
State law mandates 70 percent of the bond issue must be used on these two specified projects, Oakley said.
Should it pass, the bond issue will have an impact on Jenks residents’ property taxes. Oakley said the first year’s millage rate will be higher than years to follow – about $47 per $100,000 evaluation. However, with two power plants, Kimberly Clark and Tulsa Winch in the city limits, some of that increase in property taxes will be absorbed.
“About 35 to 40 percent of the hike will be paid by those companies, rather than the individual resident having to pay,” Oakley said.
The bond election is set for Oct. 8. A simple majority is required to pass the bond issues.
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