Governor seeks additional bond issue for Capitol repairs

Gov. Mary Fallin is proposing a new $120 million bond issue to repair and renovate Oklahoma’s nearly 100-year-old state Capitol.

Two years ago, state lawmakers approved a $120 million bond issue to repair the Capitol. Fallin says the bond money helped builders launch the project but that contractors have said they think it will take another $120 million to complete the work. Fallin says interest rates remain low and the new bond wouldn’t be issued until 2018, when 40 percent of the state’s existing bond principal rolls off the books.

In December, officials chose Manhattan Construction and JE Dunn Construction to handle the project. Works includes new plumbing, electrical and mechanical systems.