Commissioners approve lease-revenue financing for Western Heights school repairs

The Oklahoma County Board of Commissioners on May 20 approved a lease‑revenue bond financing application submitted by the Western Heights Public School District to fund renovations and safety upgrades at three of the district’s campuses.

The application was presented to the board after unanimous approval by the trustees of the Oklahoma County Finance Authority. Kelly Work, counsel to the authority, told commissioners the trust acts as a conduit for economic‑development financing and that projects eligible include educational facilities. "The Oklahoma County Finance Authority is a public trust that has Oklahoma County as its beneficiary, and it is available for conduit financing projects," Work said.

Dr. Braden Savage, superintendent of Western Heights Public Schools, described the campuses as dated and in need of renovation. "We have 3 buildings in our district that are quite old and need lots of repair," Savage said, adding the district plans to update intercom systems, install secure vestibules at some schools, and replace playground equipment.

District finance officials and members of the financing team attended the meeting. Beth Williams, director of finance for Western Heights, and Matt Genhart, the district’s chief financial officer, joined attorneys from Floyd & Driver and financial advisers from Stephen H. McDonald & Associates to answer technical questions about the proposed financing.

Commissioners discussed the size of the proposal during the meeting; the board referenced a financing package of about $93 million before moving to a formal vote. A motion to approve the application was made, seconded and adopted by voice vote.

The approval by the Board of County Commissioners is a required step for the Oklahoma County Finance Authority to proceed with bond issuance as a conduit issuer. The authority’s counsel noted the trust may be used for a range of public‑purpose projects, including educational facilities, and that board approval is required to move an authority‑issued bond forward.

County officials did not provide a final bond resolution text or a financing timetable at the May 20 meeting; district officials said additional project and financing details would be provided by the financing team in subsequent steps.

The district and the finance authority will complete remaining administrative steps required for bond issuance and project work prior to any construction contracts or expenditures.