ALTUS – More than $9.1 million in sales tax revenue bonds were authorized by the city council on Tuesday and will allow Altus and school officials to move forward with several of their MAPS II projects.
The bonds, which are pledged against the city’s sales tax revenue, will fund quality-of-life projects including renovations at the community center, aquatic center, sports park, city auditorium and animal shelter.
However, the biggest project will be major renovations of the Altus Reservoir. Bids will be let on the reservoir project next month, Altus City Manager Gary Jones said.
The revenue bonds proposal passed by an 8-1 vote on April 19. The only dissenting vote came from Councilman Dillon Feazel. The bonds were sold to Truist Bank in Charlottesville, North Carolina.
Recreational upgrades at the reservoir will include new jogging trails, lights, an amphitheater, picnic pavilion and even new sidewalks and trails from within the city to the reservoir.
The reservoir plan calls for water to be circulated from Tom Steed Lake but can also be used as a backup for drinking water.
City officials hope the new reservoir plans will make the area “more friendly” for activities and turn the reservoir into a major recreational hub for Altus and the surrounding area.
On the school side, a new $30 million public school will be built on Altus Air Force Base with the federal government paying for most of it. The sales tax revenue bonds will provide the 20% match needed by the school district.
High-level U.S. Air Force commanders were recently in Altus and viewed plans for the base school and the reservoir, Altus Mayor Robert Garrison said.
“They were really impressed,” he said.
The money will also help the school district build safe rooms at sites that currently don’t have any and will allow construction of bus shelters and security cameras at some schools. Other issues, including restrooms and on-campus sidewalks will be addressed.
Altus voters approved the MAPS II program in August 2020 by passing a 1.5% sales tax that went into effect April 1, 2021. The sales tax will be in effect for 12 years and will pay for a variety of city and school projects. Revenue will be divided equally between city hall and Altus Public Schools.
MAPS I, which was approved in 2008, had a 1.75% sales tax attached to it and paid for a new city hall, fire station and senior citizen center. The MAPS I sales tax expired March 31, 2021.