In 1954, fearing that Gilcrease Museum would be sold and leave Tulsa, a small group of citizens organized a bond election. Tulsa's citizens approved, by a 3-to-1 margin, the $2.25 million bond issue which paid Gilcrease's outstanding debts. In response, Gilcrease deeded his entire collection to the City of Tulsa in 1955, and conveyed the museum buildings and grounds to the city in 1958. In addition, Gilcrease committed oil property revenue to Tulsa for museum maintenance until the bond was fully repaid.