County approves start of bond issuance for Gold Bond Series 2025 after heated public comments on jail plan
The Oklahoma County Board of County Commissioners voted to start the statutory issuance process for the remaining Gold Bond Series 2025 authorization, a step county officials said would let the county competitively sell bonds this fall to finance construction related to the county’s jail program. County bond counsel Jared Davidson said the county plans to sell and close the bonds in November, with maturities running through 2045 and an illustrative interest-rate estimate of about 4.75 percent.
The vote followed extended public comment and debate among commissioners about whether to proceed without a detailed plan for operating the additional facilities. The board’s action authorizes staff to move forward with the formal issuance process; financing and final sale terms will depend on market conditions and subsequent approvals.
Why it matters: Commissioners and public speakers said the county faces unresolved questions about how it will staff and pay to operate the existing jail, a behavioral health facility and the new construction the bonds would finance. Commissioner Lowe said she would not support selling the bonds now because the county has no operational funding plan and urged that voters be allowed to decide.
Davidson, the county’s bond counsel, told the board this item “kicks off the formal statutory issuance process for those authorizations that were previously approved back in 2022,” and Zach Robinson, the county’s financial adviser, said the county expects a competitive sale and is optimistic Moody’s will affirm a rating that would help lower interest costs.
Public commenters pressed the commissioners on the jail plan. Mark Folk called the current plan “nuts,” criticized moving the property room, release center, kitchen and laundry to the new facility, and warned of logistical failures, saying: “What happens if the weather is bad? What happens if there’s traffic?” Gina Standridge said the site would place detainees near schools in Del City and told commissioners the vote was pushed through at a time when District 1 lacked an elected official. State Rep. Andy Fugate urged the commissioners to avoid the “sunk-cost trap,” suggesting officials re-evaluate the project rather than proceed because of past spending.
Commissioner Lowe summarized her objections during debate, saying the county had not explained how it would pay the estimated $10 million to $15 million a year in increased operating costs for the three facilities and that the county lacks a public financing plan or a pledge by an organized campaign to back a ballot measure. “I cannot support anything that may end up harming our employees,” she said, and concluded: “So, therefore, I am voting no today.”
The board approved the motion to begin the issuance process. The recorded tally on the dais showed two votes in favor and one opposed; the board and staff noted the vote should read two ayes and one nay.
Next steps: Staff will continue the statutory process, work with rating agencies and plan for a competitive sale; the issuance will return to the board for final approvals and sale documentation before bonds are sold and closed.
Sources: Presentation by county bond counsel Jared Davidson and financial adviser Zach Robinson; public comments by Mark Folk, Gina Standridge and State Rep. Andy Fugate; official board debate and roll-call recorded during the August meeting.
