Okla. Stat. tit. 11, § 11-24-112

Powers of Eligible Public Agencies and Public Trusts.

(a) In order to accomplish the purposes of this act, any

eligible public agency, subject to the restrictions of Article 10,

Sections 17, 26 and 27 of the Constitution of the State of Oklahoma,

or any public trust may enter into and carry out contracts and

agreements for the purchase from the Authority of power and energy,

transmission services, power supply development services and other

services.

(i) Each such contract and agreement shall be for such

period and shall contain such other terms, conditions and

provisions, not inconsistent with the provisions of this act, as the

Board of Directors of the Authority shall approve, including,

without limitation, provisions whereby the eligible public agency or

Oklahoma Statutes - Title 11. Cities and Towns Page 227

public trust is obligated to pay for the products and services of

the Authority without set-off or counterclaim and irrespective of

whether such products or services are furnished, made available or

delivered to the eligible public agency or public trust or whether

any project contemplated by any such contract and agreement is

completed, operable or operating, and notwithstanding suspension,

interruption, interference, reduction or curtailment of the products

and services of such project.

(ii) Each such contract and agreement may be pledged by

the Authority to secure its obligations and may provide that if one

or more eligible public agencies or public trusts defaults in the

payment of its obligations under such contract and agreement, the

remaining eligible public agencies and public trusts having such

contracts and agreements shall be required to pay for and shall be

entitled proportionately to use or otherwise dispose of the products

and services which were to be purchased by the defaulting eligible

public agency or public trust.

(iii) Each such contract and agreement shall be a limited

obligation of an eligible public agency or public trust payable from

and may be secured by a pledge of, and lien and charge upon, all or

any part of the revenues derived or to be derived from the ownership

and operation of its electric or other integrated utility system as

and, if so provided in such contract or agreement, shall be an

expense of operation and maintenance thereof, and shall not

constitute an indebtedness of such eligible public agency or public

trust for the purpose of any statutory limitation.

(iv) Nothing in this act shall be construed to preclude an

eligible public agency or public trust from appropriating and using

taxes and other revenues received in any year to make payments due

or to comply with covenants to be performed during that year under

any contract or agreement entered into as contemplated in this act.

(b) Any such contract or agreement may include provisions for

the sale of output and services of a particular project or for

output and services generally without regard to a specific project

and for the supply of a specific quantity of output or a percentage

of the output of a specific project or other specific facilities or

for the supply of output based upon the requirements of the

purchaser and on such other terms and conditions as the Board of

Directors and the contracting or agreeing party deem appropriate.

(c) In the event of any failure or refusal on the part of the

eligible public agency or public trust to perform punctually any

covenant or obligation contained in any such contract, the Authority

may enforce performance by any legal or equitable process, including

specific performance.