Home Table of Contents

§ 22-156. Submission of question of issuance of revenue obligations to finance improvement of p...

Oklahoma Statutes AnnotatedTitle 11. Cities and Towns

Oklahoma Statutes Annotated
Title 11. Cities and Towns (Refs & Annos)
Chapter 1. Municipal Code (Refs & Annos)
Powers of Cities and Towns
Article XXII. General Powers of Municipalities
Oklahoma Municipal Utility Revenue Bond Act
11 Okl.St.Ann. § 22-156
§ 22-156. Submission of question of issuance of revenue obligations to finance improvement of public utility to voters
Currentness
Prior to and as a condition precedent to issuing revenue obligations under the Oklahoma Municipal Utility Revenue Bond Act, the governing body of a municipality shall submit the question of issuance of revenue obligations to finance improvements to a public utility or combination of public utilities if:
1. The improvements are with respect to a public utility or utilities owned by the municipality or by a public trust having the municipality as its beneficiary at the time of the election; and
2. The original acquisition, purchase or construction of the public utility or utilities on which improvements are to be made was not approved by a lawful majority of qualified voters of the municipality voting at an election for that purpose; or
3. The original acquisition, purchase or construction of the public utility or utilities on which improvements are to be made was not accomplished and financed by a public trust of which the municipality is a beneficiary.

Credits

Laws 1992, c. 211, § 7, eff. July 1, 1992.
11 Okl. St. Ann. § 22-156, OK ST T. 11 § 22-156
Current with emergency effective legislation through Chapter 295 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
End of Document