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§ 869. Sources for payment of obligations of district

Oklahoma Statutes AnnotatedTitle 82. Waters and Water RightsEffective: July 1, 2019

Oklahoma Statutes Annotated
Title 82. Waters and Water Rights
Chapter 8. Grand River Dam Authority
Effective: July 1, 2019
82 Okl.St.Ann. § 869
§ 869. Sources for payment of obligations of district
A. Any and every indebtedness, liability or obligation of the district, for the payment of money, however entered into or incurred, and whether arising from contract, implied contract or otherwise, shall be payable solely (1) out of the revenues received by the district in respect of its properties, or other accounts held for the payment and security thereof, subject to any prior lien thereon conferred by any resolution or resolutions theretofore adopted as in Section 861 et seq. of this title provided, authorizing the issuance of bonds or (2), if the Board shall so determine out of the proceeds of sale or issuance by the district of bonds or bond anticipation notes payable solely from such revenues or such other amounts, or such credit or liquidity support as may be obtained by the district for such purposes, repayable solely from such revenues or other amounts.
B. Notwithstanding the provisions of this section, the district is hereby authorized to accept state appropriations to pay any lease-purchase obligations for property purchased from the sale of bonds as provided by law in Section 301 et seq. of Title 73 of the Oklahoma Statutes.

Credits

Laws 1935, p. 354, § 9. Laws 1981, c. 204, § 14, eff. May 26, 1981; Laws 2001, c. 71, § 1, emerg. eff. April 10, 2001; Laws 2019, c. 507, § 10, eff. July 1, 2019.
82 Okl. St. Ann. § 869, OK ST T. 82 § 869
Current with emergency effective legislation through Chapter 3 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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