The bond issue represents the sum of the district’s bonding capacity for five years. NPS utilized a revenue bond structure, allowing immediate access to funds it would have had access to over five years and use them to make needed capital investments district-wide in a shorter period of time.
The law requires all bond issue projects to be completed within three years of the start date.
In 2009, NPS passed a similar bond issue for $109 million. The 2009 bond issue focused on renovations of elementary and middle schools, and Ronald Reagan Elementary was built. All of the 2009 bond issue projects were completed on time.
The projects included in the 2014 bond issue were identified in an objective process that drew from an independent Norman Demographic Study in 2012 and independent Facility Plan studies conducted in 2007 and 2013.
Polls will open 7 a.m. on Tuesday and close at 7 p.m. Sample ballots are available at the Cleveland County Election Board website.
The Cleveland County Election Board is at 641 E. Robinson St., Suite 200. For more information, call 366-0210 or visit clevelandcountyelectionboard.com.
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