SPS Proposing $195 Million Bond Issue

SPS Proposing $195 Million Bond Issue

At their meeting Tuesday evening, the Bond 2023 Long Range Facility Planning (LRFP) Executive Committee presents a recommendation for Bond 2023 Capital Improvement Projects to the Stillwater Board of Education for consideration.

The Board was presented with two options for the district to construct facilities to replace the existing high school facility for 9th thru 12th (excluding the football stadium and PAC) that do not involve an increase to the current target tax rate.

1) Using the historical 6-year bond cycle, throughout three consecutive bond cycles, designating approximately $50 million of the capital project funding within each bond to the high school improvement project.

2) Going to a 10-year bond cycle and a lease-purchase with a public trust (Payne County or City of Stillwater) could provide approximately $95 million in project funding, after administrative costs, that would be designated to the high school improvement project

After taking a vote, The Board unanimously approved option 2. 

A preliminary list of potential SPS Bond 2023 Capital Improvement Projects was distributed, but due to time constraints, the prioritization of these projects will be done at a later date. 

Some of these projects include: 

  • Pre-K through 4th grade would be at elementary sites, 5th and 6th grade would combine at the middle school, 7th and 8th grade would remain together at the junior high, and 9th graders would be moved into their area at the high school.
    • With the 9th grade moving into the high school, this would require spaces the current facility does not have for the additional academic, instruction, and athletic support needed. 
  • The district’s technology department relocated from Cimarron Plaza.
  • Improvements to the Stillwater Middle School playground, interior, and deferred maintenance for the roof.
  • HVAC projects at 11 district facilities.
  • Improvements in safety and security concerns at elementary sites.

The Board approved moving forward with an agreement with Tulsa-based 505 Architects for the projects’ planning, preliminary design, and cost estimates. According to that agreement, the total cost of capital projects would be about $150 million.

Voters will decide on this issue at an election next year.