OKC Friday
By Eric Oesch
May 28, 2021
Work to complete sidewalk expansion in The Village continues as the City Council unanimously approved a resolution for the City Manager to solicit competitive bids for sidewalk improvements financed through the issuance of general obligation bonds. Once the entire project is finished, the extensive sidewalk system will complete a walking trail to connect with the Oklahoma City city-wide trail system just west of the Lake Hefner Parkway at Britton Road. A general obligation bond (GO bond) is a municipal bond backed solely by the credit and taxing power of the issuing city instead of revenue from a given project. GO bonds are issued with the understanding the municipality can repay its debt obligation through taxation or revenue from projects. No assets are used as collateral. The city’s consulting engineers have submitted plans for Sidewalk Projects No. 2 and No. 3 and said projects are ready to be competitively bid in accordance with the provision of the Oklahoma Competitive Bidding Act.
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