Newspaper article THE JOURNAL RECORD

Aviation Center Bonds Issue to Be Considered

Newspaper article THE JOURNAL RECORD

Aviation Center Bonds Issue to Be Considered

Article excerpt

A joint resolution with the Oklahoma City Airport Trust for the issuance of $8 million in junior lien revenue bonds to finance construction of an aviation career center at Oklahoma City Vocational Technical District No. 22 will be considered during today's session of the Oklahoma City Council.

If approved by the council, the bonds would be used to fund the construction of a 65,000-square-foot aviation training center at SW 54th St. and MacArthur Blvd., near Will Rogers World Airport.

In turn, vo-tech district 22 would enter into a memorandum of agreement with the trustees of the airport trust to lease the facility when construction is completed. The lease would be for a 20-year period, with rental fees sufficient to amortize the trust's debt service and maintenance costs.

Preliminary approval for the project was given by the airport trustees in October.

Other items to be considered today by council include:

- An ordinance establishing new parking meter rates for all two-hour and five-hour parking meter zones.

Presently, there are three rates for the two hour meters - 5 cents for 24 minutes, 10 cents for 48 minutes and 25 cents for 2 hours. The proposal would provide four time slots for parking patrons, starting with 12 minutes for 5 cents and doubling the two hour rate to 50 cents.

Similarily, the five hour meters would increase from four to five time slots, from 15 minutes for 5 cents up to five hours for a dollar. It currently costs 50 cents to park for five hours.

The item was previously brought up for discussion in a regular council session in November.

During that meeting, Ward 3 Councilman Jack Cornett said the reason downtown had lost so much business was the unavailability of parking spaces. Cornett said he was not in favor of increasing parking rates just to help the Central Oklahoma Transportation Authority, which has sustained losses in the operation of its parking garages for several months. …

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