UPDATE: Bill to help complete American Indian Cultural Center & Museum signed by governor
OKLAHOMA CITY — A bill that would finish the American Indian Cultural Center and Museum was signed by Gov. Mary Fallin on Thursday.
The bill calls for the State of Oklahoma to hand over the site of the long-unfinished facility to the City of Oklahoma City.
It also calls for a $25 million bond that would go toward finishing the museum.
According to the final concept summary, the state would not have any liability or responsibility to operate or maintain the museum after June 30, 2016.
Once the center is complete, the Native American Cultural and Educational Authority would be terminated
The summary states that half of all the total revenue in excess of $7 million from the museum each year will be given to the General Revenue Fund until $25 million is repaid.
In addition, the state would hand over 143 acres around the center to Oklahoma City as soon as possible for commercial development.
Revenues from the development would go toward funding the museum’s operations.