Special Election Proclamation & Notice

Special Election Called: A special election has been called by the Mayor of the City of Enid, Oklahoma.
Election Date: The special election will be held on August 24, 2010.
Purpose of the Election: To submit to registered, qualified voters a proposition regarding incurring an indebtedness of up to $20,000,000 for economic and community development.
Purposed Projects: The funds are intended for the renovation of Mark Price Arena at Convention Hall, the construction of a new Enid Event Center, and related improvements.
Funding Method: If approved, a special annual tax will be levied and collected on all taxable property in the city to cover interest and principle on the bonds.
Tax Limitation: The special tax for all bonds issued under Section 35, Article 10 of the Oklahoma Constitution, will not exceed five mills on the dollar.
Bond Details: The bonds would bear interest at a rate not exceeding ten percent (10%) per annum, payable semi-annually, and would become due serially within twenty (20) years from their date.
Voter Eligibility: Only registered, qualified voters of The City of Enid, Oklahoma, may vote on this proposition.
Official Approval: The Special Election Proclamation and Notice was approved by the Enid City Commission at their meeting on June 15, 2010.