Muskogee City-County Port Authority adopted a resolution in support of a special election to issue $20 million in general obligation limited tax bonds. If passed, the bonds would provide funds for economic and community development efforts in the county. It sounds like a winning proposition for Muskogee County, and similar programs have been beneficial in the past.
Port Director Scott Robinson said similar bonds issued by the now defunct Muskogee County Industrial Trust Authority proved successful. He said this type of bonds “are something the county can issue with the expectation that the companies receiving the loans are going to pay them back.”
In 2001, voters approved a request to issue general obligation limited tax bonds worth $8 million. Robinson said those bonds “have been paid off,” and “no outstanding bonds or loans” remain.
Industrial Development Director Marie Synar said her office has “a number of prospects that are waiting for this bond money to become available.”
Synar said discussions have focused on a May 11 special election.
We would certainly like to see those prospects Synar spoke of to become a part of the community.
We also would like to see more businesses that provide good jobs in Muskogee.
Advantage Controls and Paragon Industries are two success stories from bond financing in Muskogee. Both businesses have created jobs.
We would like to see Muskogee County voters vote for more economic development for the community by approving the bonds.