Lawton Sells $3.6M in Bonds for Streets and Bridges: What It Means for Your Tax Bill

Lawton drivers have a new round of road money headed their way. On October 27, the City Council approved selling a $3.6 million tranche of general obligation bonds dedicated to constructing, reconstructing, and repairing streets, roadways, and bridges, including related utility work. It’s the latest slice of a $60 million Street/Roadway and Bridge Improvements program voters approved back in September 2023. Robert W. Baird Co. won the bid with a 3.83051% interest rate, and the city will make $400,000 annual principal payments from December 2028 through December 2036.

The city sells these bonds in pieces rather than in one lump sum, and that’s deliberate. Spreading out the sales keeps Lawton’s ad valorem tax levy stable at roughly 11 mills each year instead of spiking it all at once. With the $6.3 million tranche sold in 2024 and this latest sale, about $50.1 million remains from the voter-approved authorization, meaning plenty of street and bridge work is still lined up for years to come.

For residents, the takeaway is simple: the repairs you voted for are moving forward on a steady schedule, and your property tax rate isn’t taking a jump to make it happen. It’s local government doing the slow, unglamorous work of keeping the pavement under your tires in one piece.

Where would you like to see the remaining $50 million go first? Let us know in the comments.