Okla. Stat. tit. 11, § 11-24-107

A. The Authority shall have and is hereby authorized to

exercise all powers, rights and privileges enumerated in this

section. Such powers, rights and privileges shall be exercised by

its Board of Directors unless otherwise specifically provided herein

or by the bylaws of the Authority as in effect from time to time.

B. The Authority may plan, finance, acquire, construct,

reconstruct, own, lease, operate, maintain, repair, improve, extend

or otherwise participate, individually or jointly with other

persons, in one or more projects, proposed, existing or under

construction, and may act as agent, or designate one or more

persons, whether or not participating in a project, to act as its

agent, in connection with the planning, financing, acquisition,

construction, reconstruction, ownership, lease, operation,

maintenance, repair, extension or improvement of the project.

C. The Authority may investigate the desirability of and

necessity for additional sources and supplies of electrical energy

and fuel and other supplies of any kind for such purpose, and make

studies, surveys and estimates as may be necessary to determine the

feasibility and cost thereof.

D. The Authority may cooperate with other persons in the

development of sources and supplies of electrical energy and fuel

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and other supplies of any kind for such purposes, and give

assistance with personnel and equipment in any project.

E. The Authority may apply to any person for consents,

authorizations or approvals required for any project within its

powers and take all actions necessary to comply with the conditions

thereof.

F. The Authority may perform any act authorized by the Oklahoma

Municipal Power Authority Act through, or by means of, its officers,

agents or employees or by contract with any person including,

without limitation, the employment of engineers, architects,

attorneys, appraisers, financial advisors and such other consultants

and employees as may be required in the judgment of the Board of

Directors, and fix and pay their compensation from funds available

to the Authority therefor.

G. The Authority may acquire, hold, use and dispose of income,

revenues, funds and money.

H. The Authority may, individually or jointly with other

persons, acquire, own, hire, use, operate and dispose of personal

property and any interest therein.

I. The Authority may, individually or jointly with other

persons, acquire, own, use, lease as lessor or lessee, operate and

dispose of real property and interests in real property including

projects existing, proposed or under construction, and make

improvements thereon.

J. The Authority may grant the use by franchise, lease or

otherwise and make charges for the use of any property or facility

owned or controlled by it.

K. The Authority may borrow money and issue negotiable bonds,

secured or unsecured, in accordance with Section 24-101 et seq. of

this title, and may enter into interest rate swaps and other

derivative products, and other financial instruments intended to

hedge interest rate risk or manage interest rate costs including any

option to enter into or terminate any of them, that the Authority

deems to be necessary or desirable in connection with any bonds

issued prior to, at the same time as, or after entering into such

arrangement, and containing such terms and provisions, and may be

with such parties, as determined by the Authority. Provided, any

action taken by the Authority pursuant to this subsection must first

be approved by the Office of the Deputy Treasurer for Debt

Management and the Council of Bond Oversight pursuant to the

provisions of the Oklahoma Bond Oversight and Reform Act.

L. The Authority may invest money of the Authority not required

for immediate use including proceeds from the sale of any bonds.

M. The Authority may exercise the power of eminent domain in
this subsection must first

be approved by the Office of the Deputy Treasurer for Debt

Management and the Council of Bond Oversight pursuant to the

provisions of the Oklahoma Bond Oversight and Reform Act.

L. The Authority may invest money of the Authority not required

for immediate use including proceeds from the sale of any bonds.

M. The Authority may exercise the power of eminent domain in

accordance with the provisions of Section 24-110 of this title.

N. The Authority may determine the location and character of,

and all other matters in connection with, any and all projects it is

Oklahoma Statutes - Title 11. Cities and Towns Page 218

authorized to acquire, hold, establish, effectuate, operate or

control.

O. The Authority may contract with any person for the planning,

development, construction, operation, sale or lease as lessor or

lessee of any project or for any interest therein, on such terms and

for such period of time as its Board of Directors shall determine.

P. The Authority may contract with any eligible public agency,

any public trust, or any other person for the sale of power and

energy, transmission services, power supply development services or

other services within or without this state on such terms and

conditions as the Board of Directors shall approve. Any such

contract may be for the sale of output and services of a particular

project or may be for output and services generally without regard

to a specific project and may be for the supply of a specific

quantity of output or a percentage of the output of a specific

project or other specific facility or may be based on the

requirements of the purchaser or may be on such other terms and

conditions as the Board of Directors deems appropriate.

Q. The Authority may enter into any contract or agreement

necessary, appropriate or incidental to the effectuation of its

lawful purposes and the exercise of the powers granted by the

Oklahoma Municipal Power Authority Act including, without

limitation, contracts or agreements for the purchase, sale,

exchange, interchange, wheeling, pooling, transmission or storage of

electric power and energy, and fuel and other supplies of any kind

for any such purposes, within and without this state, in such

amounts as it shall determine to be necessary and appropriate to

make the most effective use of its powers and to meet its

responsibilities, on such terms and for such period of time as the

Board of Directors determines, and derivative or other instruments

intended to hedge fuel cost risk associated with any projects or

power purchases or supply arrangements of the Authority, or to hedge

fixed or variable interest rate exposure associated with permitted

investments including any option to enter into or terminate any of

them, that the Authority deems to be necessary or desirable, and

containing such terms and provisions, and may be with such parties,

as determined by the Authority.

R. In any case in which the Authority participates in a project

as a joint owner with one or more persons, the Authority may enter

into an agreement or agreements with respect to such project with

the other person or persons participating therein, and any such

agreement may contain such terms, conditions and provisions

consistent with the provisions of the act as the parties thereto

shall deem to be in their best interest. Any such agreement may

include, but need not be limited to, provisions defining what

constitutes a default thereunder and providing for the rights and

remedies of the parties thereto upon the occurrence of such a

Oklahoma Statutes - Title 11. Cities and Towns Page 219

default deemed appropriate by the Board of Directors including, to

the extent deemed appropriate, the acquisition by nondefaulting

parties of all or any part of the defaulting party's interest;

provisions setting forth such restraints on alienation of the
g for the rights and

remedies of the parties thereto upon the occurrence of such a

Oklahoma Statutes - Title 11. Cities and Towns Page 219

default deemed appropriate by the Board of Directors including, to

the extent deemed appropriate, the acquisition by nondefaulting

parties of all or any part of the defaulting party's interest;

provisions setting forth such restraints on alienation of the

interests of the parties in the project as the Board of Directors

deems appropriate; provisions for the construction, operation and

maintenance of such electric generation or transmission facility by

any one or more of the parties to such agreement which party or

parties shall be designated in or pursuant to such agreement as

agent or parties thereto or by such other means as may be determined

by the parties thereto; and provisions for a method or methods of

determining and allocating, among or between the parties, costs of

construction, operation, maintenance, renewals, replacements,

improvements and disposals with respect to such project. In

exercising its power to participate in a project as a joint owner

with one or more persons, the Authority may not loan its credit to

any person which is a joint owner of such project; provided,

however, the appropriate allocations of the costs of construction,

operation, maintenance, renewals, replacements, improvements and

disposals with respect to such project between the Authority and

such persons shall not be a loan of credit by the Authority to such

persons. In carrying out its functions and activities as such agent

with respect to construction, operation and maintenance of a

project, such agent shall be governed by the laws and regulations

applicable to such agent as a separate legal entity and not by any

laws or regulations which may be applicable to any of the other

participating parties. Notwithstanding anything contained in any

other law to the contrary, pursuant to the terms of any such

agreement, the Authority may delegate its powers and duties with

respect to the construction, operation and maintenance of such

project to the person acting as agent; and all actions taken by such

agent in accordance with the provisions of such agreement may be

made binding upon the Authority without further action or approval

by the Authority.

S. The Authority may procure insurance against any losses in

connection with its property, operations or assets in such amounts

and from such insurers as it deems desirable, or may self-insure

against such losses.

T. The Authority may contract for and accept any gifts, grants

or loans of funds or property or financial or other aid in any form

from any person, and may comply, subject to the provisions of the

Oklahoma Municipal Power Authority Act, with the terms and

conditions thereof.

U. The Authority may adopt a corporate seal and may sue or be

sued.

V. The Authority may exercise all other powers not inconsistent

with the Oklahoma Constitution or the United States Constitution,

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which powers may be reasonably necessary or appropriate for or

incidental to effectuate its authorized purposes or to the exercise

of any of the powers enumerated in the Oklahoma Municipal Power

Authority Act.

W. Notwithstanding any other provision herein seemingly to the

contrary, the Authority may not sell output (i) at retail to the

ultimate consumers thereof, or (ii) to any municipality which does

not own an electrical energy distribution system.