GM Plant Acquisition Bond Issue Vote Date Approved

The Oklahoma County Board of County Commissioners today unanimously approved setting a May 13, 2008, election date for a five-proposition bond issue totaling $84.5 million. The largest portion of the bond vote is a $55 million proposition allowing Oklahoma County to acquire the former Oklahoma City General Motors plant for use by Tinker Air Force base.

The County plans to enter into a long-term lease agreement with Tinker Air Force Base for use of the facility, but Oklahoma County voters must first approve the $55 million General Obligation bond issue.

The average cost to approve Tinker’s expansion into the plant for property owners of a $100,000 home in Oklahoma County is 82-cents per month for the 15-year bond.

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