Muskogee city councilors made the right move when it approved funds that will jump-start capital improvements planned for Muskogee Public Schools.
The councilors approved a resolution authorizing a city trust to issue a general obligation bond to fund the capital improvement projects.
The resolution authorizes the Muskogee Industrial Trust to issue bonds totaling no more than $16.7 million.
The resolution will make funding available immediately for projects overwhelmingly approved by voters in May.
Voters approved a $47.5 million school bond to fund major building repairs, new classrooms and laboratories. They also passed a $2 million transportation bond.
Revenue from those bonds will be used to pay off the note approved by city councilors.
City Attorney Roy Tucker said “we try to find a way to get the money as fast as we can so those projects can move forward.”
Waiting for money to be generated by the bonds approved in May would take time.
The council resolution allows the voters’ will to be done sooner, rather than later.
John Little, chief financial officer for Muskogee Public Schools, said “it allows us to do what we otherwise would have to wait five or six years to do.”
It is in the best interest of the city in the long-term to get these projects moving now.
There is no need for students to wait any longer than necessary to receive the benefits of the voters’ wishes.