Statement from Sen. Patrick Anderson – Taxpayers of Oklahoma to take on $535 million in new bond debt

“The taxpayers of Oklahoma are being asked to carry the burden of an additional $535 million in new bond indebtedness this year if the legislature moves forward and passes the pending bond issues that have been brought forward during this last week of the legislative session,“ said Anderson, R-Enid. “The $535 million only accounts for the principal repayment of the bond issues – the interest on these bonds will obligate the taxpayers of Oklahoma for millions more in addition to that amount.”

The $535 million in new bond debt for 2012 is for the following projects:

$25 million for repairs to Tulsa’s Zink dam.

$200 million for the Master Lease Real Property projects.

$50 million for the Master Lease Personal Property projects.

$200 million for repairs to the Capitol building, the Jim Thorpe building and the Governor’s mansion.

$40 million for Oklahoma City’s Native American Cultural Center museum.

$20 million for Tulsa’s Pop museum.

“I personally feel that it is irresponsible to be running up the state’s debt in this manner,” said Anderson. “I am hopeful that other fiscal conservatives in the legislature will join me in opposing these bond issues.”