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§ 65.10. Bond issues--Financing acquisitions, costs and improvements

Oklahoma Statutes AnnotatedTitle 3. Aircraft and Airports

Oklahoma Statutes Annotated
Title 3. Aircraft and Airports
Municipal Airports Act 1947
3 Okl.St.Ann. § 65.10
§ 65.10. Bond issues--Financing acquisitions, costs and improvements
The cost of planning and acquiring, establishing, developing, constructing, enlarging, improving, or equipping, an airport or air navigation facility, or the site therefor, including buildings and other facilities incidental to the operation thereof, and the acquisition or elimination of airport hazards, may be paid for wholly or partly from the proceeds of the sale of bonds or notes of the municipality, as the governing body of the municipality shall determine. For such purposes a municipality may issue general or special obligation bonds, revenue bonds or other forms of bonds or notes, secured or unsecured, including refunding bonds, in the manner and within the limitations prescribed by the laws of this state or the charter of the municipality for the authorization and issuance of bonds or notes thereof for public purposes generally. Any bonds or notes issued by a municipality pursuant to this act1 which are payable, as to principal and interest, solely from the revenues of an airport or air navigation facility (and such bonds or notes shall so state on their face) shall not constitute a debt of such municipality within the meaning of any constitutional or statutory debt limitation or restriction. In any suit, action or proceeding involving the security, or the validity or enforceability, of any bond or note issued by a municipality, which bond or note states on its face that it was issued pursuant to the provisions of this act and for a purpose or purposes authorized to be accomplished by this act, such bond or note shall be conclusively deemed to have been issued pursuant to this act for such purpose or purposes.

Credits

Laws 1947, p. 19, § 10.

Footnotes

Title 3, § 65.1 et seq.
3 Okl. St. Ann. § 65.10, OK ST T. 3 § 65.10
Current with emergency effective legislation through Chapter 378 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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