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HJR 1033 - Authorizes Bonds for Capitol Repairs - Oklahoma Key Vote

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Title: Authorizes Bonds for Capitol Repairs

Vote Smart's Synopsis:

Vote to adopt a conference resolution that authorizes the issuance of a $120 million bond for State Capitol Building repairs.

Highlights:

  • Authorizes the Oklahoma Capitol Improvement Authority to issue state bonds up to $120 million for the renovation, repair, and remodeling of the Oklahoma State Capitol Building, and for the acquisition of real and personal property (Sec. 1). 
  • Authorizes the Authority to lease acquired property, and authorizes the Authority to borrow funds on the credit of the income and revenues to be derived from the leasing of such property (Sec. 1). 
  • Specifies that the maximum maturity for bonds issued under this resolution is 10 years (Sec. 1). 
  • Establishes the “State Capitol Repair Expenditure Oversight Committee” to prepare and approve a project programming plan for interior State Capitol Building repairs (Sec. 1). 
  • Specifies that the Committee consists of 9 members as follows (Sec. 1):
    • 3 individuals appointed by the governor;
    • 3 legislators appointed by the Speaker of the House of Representatives; and
    • 3 legislators appointed by the President Pro Tempore of the Senate. 
  • Requires the Committee to deliver a final plan to the Office of Management and Enterprise Services no later than June 30, 2015 (Sec. 1).

Full Bill Text

See How Your Politicians Voted

Title: Authorizes Bonds for Capitol Repairs

Vote Smart's Synopsis:

Vote to adopt a conference resolution that authorizes the issuance of a $120 million bond for State Capitol Building repairs.

Highlights:

  • Authorizes the Oklahoma Capitol Improvement Authority to issue state bonds up to $120 million for the renovation, repair, and remodeling of the Oklahoma State Capitol Building, and for the acquisition of real and personal property (Sec. 1). 
  • Authorizes the Authority to lease acquired property, and authorizes the Authority to borrow funds on the credit of the income and revenues to be derived from the leasing of such property (Sec. 1). 
  • Specifies that the maximum maturity for bonds issued under this resolution is 10 years (Sec. 1). 
  • Establishes the “State Capitol Repair Expenditure Oversight Committee” to prepare and approve a project programming plan for interior State Capitol Building repairs (Sec. 1). 
  • Specifies that the Committee consists of 9 members as follows (Sec. 1):
    • 3 individuals appointed by the governor;
    • 3 legislators appointed by the Speaker of the House of Representatives; and
    • 3 legislators appointed by the President Pro Tempore of the Senate. 
  • Requires the Committee to deliver a final plan to the Office of Management and Enterprise Services no later than June 30, 2015 (Sec. 1).

Full Bill Text

See How Your Politicians Voted

Title: Authorizes Bonds for Capitol Repairs

Vote Smart's Synopsis:

Vote to pass a joint resolution that submits a constitutional amendment to the voters that authorizes the issuance of a $120 million bond for State Capitol Building repairs.

Highlights:

  • Authorizes the issuance of state bonds up to $120 million for the renovation, repair, and remodeling of the Oklahoma State Capitol Building (Sec. 1).
  • Specifies that the repayment of the bonds issued under this resolution shall be made from the General Revenue Fund (Sec. 1).
  • Specifies that the maximum maturity for bonds issued under this resolution is 30 years (Sec. 1).

NOTE: A PROPOSED CONSTITUTIONAL AMENDMENT CAN BE PLACED ON THE BALLOT BY A MAJORITY VOTE OF BOTH CHAMBERS ON A JOINT RESOLUTION. IT MUST BE APPROVED BY A MAJORITY OF CITIZENS VOTING IN ORDER TO BECOME EFFECTIVE.

Full Bill Text

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