Lawton council approves up to $95 million in bonds to fund sports complex, park and Discovery Zone improvements

Mayor Booker and city staff told the council that a financing package the authority may sell would support a series of capital projects across Lawton. City staff said the authority may issue sales-tax revenue bonds — tax-exempt or taxable — in one or more series, with aggregate principal not to exceed $95,000,000, to pay costs of acquisition, construction, equipping, renovation and improvements for the sports complex, Elmer Thomas Park, the Discovery Zone and other projects.

A city staff presenter reported the total projected program cost at about $90.3 million and provided a project-level budget: roughly $40 million for the sports complex, $24 million for Elmer Thomas Park, $1.8 million for the museum, $3 million for ancillary lots, $4.5 million for a Vista construction loan and $15 million for the Discovery Zone. The resolution also authorizes related proceedings, a sales-tax agreement between the city and the authority, and waivers of competitive bidding necessary to complete the bond sale process.

The council moved, seconded and voted to approve the resolution; the clerk reported the measure carried 7–0. The approval authorizes the authority to pursue bond sale proceedings but does not itself finalize bond sale terms, interest rates or the ultimate financing schedule. City staff said further steps will follow to structure the series, determine tax-exempt versus taxable status, and finalize sale terms.

What happens next: staff will proceed with the authority’s bond issuance process and report back to council with finalized sale documents and implementation details, including any required agreements tied to specific projects.