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Council committee gets primer on revenue bonds and other financing options for IOT housing funds
Summary
City staff and bond counsel outlined how revenue bonds backed by sales tax could advance all or part of the proposed Improve Our Tulsa housing funds, trade-offs including interest and issuance costs, and alternatives such as private placement or bank loans.
Treasury staff and bond counsel briefed the Urban and Economic Development Committee on the process, timing and costs of issuing revenue bonds to advance all or part of the Improve Our Tulsa (IOT) housing funds.
Chad Becker of Treasury explained revenue bonds are repaid from a specific pledged revenue stream (for example sales tax or utility revenue), and that the city typically uses public trusts such as the Tulsa Public Facilities Authority (TPFA) or Tulsa Metropolitan Utility Authority (TMUA) to issue debt without a municipal general-obligation vote. Bond counsel John Weidman described…
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