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May 23, 2014

Okla. House passes $120M Capitol bond issue

OKLAHOMA CITY — A $120 million bond issue to repair and renovate Oklahoma’s nearly 100-year-old state Capitol building has been approved by the state House.

The House voted 55-34 on Thursday for the bond issue and sent it to the Senate, which is expected to consider the measure Friday.

The bill by Republican House Speaker Jeff Hickman of Fairview was a compromise developed by members of the House, where a $160 million, 25-year bond proposal for Capitol repairs was rejected last month. Hickman says the 10-year plan will save between $80 million and $100 million in interest payments over the life of the bond issue.

Oklahoma’s Capitol opened in 1917 and years of deferred maintenance have contributed to electrical, plumbing and a variety of other problems.

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