Okla. Stat. tit. 11, § 11-22-156
This is the official text of Okla. Stat. tit. 11, § 11-22-156, part of Oklahoma’s Stat. tit. 11, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 11,." Browse the sections below, each linked to its official government source.
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Submission of question of issuance of revenue
Official statutory text
obligations to finance improvement of public utility to voters.
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.
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.
Status: in_force · Read it on the official government site
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