The most familiar sources of City of Tulsa funding are the ones for which elections are held every few years. These include General Obligation Bond Issues and extensions of the Third Penny Sales Tax. Both of these sources are used exclusively to construct capital improvements like roads, bridges, sanitary sewer improvements, flood control funding, and economic development needs identified by citizens, the Mayor and Council.
Mayor G.T. Bynum announced the funding timeline for the historic Vision Tulsa economic development projects, with more than 80 percent of the 37 projects funded completely within the first five years. Four additional projects would receive annual appropriations from the 15-year program.
As a result of the work City staff has done to time bond issues for advance funding, the City will be able to fund 80 percent of the projects within the first five years, allowing the City to benefit from the economic impact and growth they'll generate. View the timeline and list of projects.
As the Third Penny Sales Tax and General Obligation Bonds for capital improvements were approaching time for renewal in 2013, many Fix Our Streets projects were complete or well underway. Tulsans had a chance to see accountability as the street improvement program was carried out.
In 2013, voters approved Improve Our Tulsa, which included the issuance of $355 million in General Obligation Bonds for street and bridge improvements and a $563.7 million extension of the Third Penny Sales Tax, of which $270 million goes to fund more street and transportation projects. View Improve Our Tulsa projects