Oklahoma ballot measure would allow bond-issuing infrastructure districts
2 min readOklahoma would open the door to the creation of bond-issuing public infrastructure districts if voters approve a constitutional amendment on the Nov. 5 statewide ballot.
State question 833 would allow property owners to petition their municipality to create a PID as a way to finance roads, sidewalks, parks, and water and sewer services through the issuance of bonds backed by a property tax assessment applied only within the district.
It was
In Texas, districts that finance water-related projects and in some cases other infrastructure like roads and parks, issued nearly $4.15 billion of tax-supported and $2.3 billion of revenue-supported debt in fiscal 2023, according to the state’s
In an April report on Texas MUDs, Moody’s said operating fund reserves were strong, while state oversight keeps debt burdens in line with tax base growth. Its ratings for 502 MUDs range from Aa2 to Ba1.
“Median debt service as a percentage of expenditures declined for lower-rated MUDs as newly established districts had significant tax base and revenue growth from new development,” the report said. “The positive trajectory of the sector is evidenced by the 99 upgraded districts in 2023.”
The state has had occasional eye-popping initial voter-approved bond authorizations. A
The bonds will finance infrastructure for 13,000 acres of land owned by a family in the Laredo area that is targeted for residential, commercial, retail, and industrial use.
Lund Farm MUD has more than $1.1 billion of bonds on the Nov. 5 ballot to fund infrastructure for a mixed-use residential development
In February, Rockwall County reportedly