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Commissioners approve Crooked Oak bond items for athletic facility projects
Summary
The board approved two items brought by the Oklahoma County Finance Authority enabling Crooked Oak Public Schools to move forward with plans for expanded athletic facilities, including a gym expansion and field improvements; the bonds are described as special limited obligations of the Finance Authority, not county general-fund debt.
Oklahoma County commissioners approved two agenda items that allow Crooked Oak Public Schools to proceed with bond-financed projects intended to expand athletic facilities and spectator capacity.
Kelly Work, counsel to the Oklahoma County Finance Authority, told commissioners the Finance Authority—a public trust with Oklahoma County as beneficiary—had approved two proposed school bond matters and introduced bond counsel and financial advisors on the record. Work emphasized that bondholders look to the project for payment and that the bonds are special, limited obligations of the Oklahoma County Finance Authority rather than obligations of the county’s general fund.
Brad Richards, identified in the meeting as superintendent of Crooked Oak Public Schools, described the planned sports complex: new soccer and football fields, a track, softball fields and a field house, with a possible future indoor facility and gym depending on funding. A second Crooked Oak representative who identified himself as Superintendent (Mr. Perry) said the district plans to expand the gymnasium by about 35 feet to add seating capacity for approximately 500 students and upgrade restrooms. Commissioners moved to approve items 15 and 16; the motions carried.
The meeting record notes the Finance Authority previously approved the bond matters and that the county’s action is required by state law to complete the issuance process. The official statement and bond documentation were referenced as the source of details for potential investors; the transcript did not provide a complete, unambiguous dollar amount for the bond(s) in plain text suitable for reporting without cross-checking the official statement, so financial details should be confirmed in county bond documents before republication.
Next steps: With the board’s approval, the Finance Authority and school district may proceed with the bond issuance process and any subsequent procurement or construction consistent with project plans and financing documents.
