DALLAS -- Oklahoma lawmakers will consider a general obligation bond program of up to $500 million during the upcoming spring session, one year after rejecting a smaller capital program proposed by Gov. David Walters.
Legislative aides said that while there is no specific proposal at this time, lawmakers are likely to approve a November ballot for a bond program if a new revenue stream is found to pay debt service. Last spring, lawmakers killed a proposed $300 million GO program backed by Gov. Walters because it would have required committing cigarette tax money once used for debt service that now flow to the state's general fund.