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Plan for $125M bond issue approved by OK House

Posted at 4:22 PM, Mar 10, 2016
and last updated 2016-03-10 17:22:35-05

OKLAHOMA CITY (AP) -- A plan for a $125 million bond issue to pay for a second phase of renovations to the Oklahoma Capitol has narrowly cleared the House of Representatives.

The House voted 51-43 during a late-night session Wednesday to approve a bill authorizing the sale of the bonds. A bill needs 51 votes to pass the 101-member House. It now heads to the Senate for consideration.

The Legislature approved a $120 million bond issue to repair the Capitol two years ago. Some of those opposed to the plan questioned why all the upgrades to date have been renovations of House and Senate office space.

Annual lease payments on a 20-year bond are projected to be $8.4 million.

 

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