Okla. Stat. tit. 74, § 74-2259
This is the official text of Okla. Stat. tit. 74, § 74-2259, part of Oklahoma’s Stat. tit. 74, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 74,." Browse the sections below, each linked to its official government source.
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Revenues for payment of bonds - Improvement bonds -
Official statutory text
Tourism information center bonds.
A. The Commission shall prescribe and collect reasonable rates,
fees, tolls or charges for the services, facilities and commodities
rendered by all property of the Commission, a portion of which, may
be pledged to the payment of bonds issued pursuant to this act. The
Oklahoma Statutes - Title 74. State Government Page 922
Commission shall revise the rates, fees, tolls or charges from time
to time whenever necessary to ensure that the revenues to be derived
therefrom shall be fully sufficient to pay principal of and interest
on such bonds. The gross revenues derived by the Commission from
the operation of any part or parts of the properties of the
Commission, but no revenues derived by the Commission through
legislative appropriation or from sources other than operation of
the properties of the Commission, may be pledged to the payment of
principal and interest. Notwithstanding any other provisions of
law, the Commission may use money derived from annual legislative
appropriations on a year-to-year basis, as authorized by the
Legislature, to repay any obligations to the Oklahoma Water
Resources Board pursuant to Sections 1085.51 and 1085.71 et seq. of
Title 82 of the Oklahoma Statutes.
B. The Commission is hereby authorized to construct
improvements in several parks and authorize the issuance of bonds
for all such improvements, and to pledge for the payment of the
bonds and the interest thereon, revenues derived by the Commission
from the operation of any or all of the parks in which any
consolidated bond issue has been authorized.
C. The Commission is further authorized to construct state-of-
the-art tourism information centers on interstate highways
including, but not limited to, entry points near the borders of the
state and major metropolitan areas, and authorize the issuance of
bonds for all construction projects, and to pledge for the payment
of such bonds and the interest thereon, revenues derived by the
Commission from the lease or operation of any or all of the tourism
information centers for which any such consolidated bond issue has
been authorized.
D. Any revenues which may be received by the Commission for the
use of such buildings or improvements, in whole or in part, shall be
regarded as all other revenues of the Commission and shall be
subject to be pledged to the payment of bonds issued hereunder.
Each bond shall recite in substance that such bond and the interest
thereon is payable solely from the revenues pledged to the payment
thereof, and that such bond does not constitute a debt of the
Commission or of the state within the meaning of any constitutional
or statutory limitation.
A. The Commission shall prescribe and collect reasonable rates,
fees, tolls or charges for the services, facilities and commodities
rendered by all property of the Commission, a portion of which, may
be pledged to the payment of bonds issued pursuant to this act. The
Oklahoma Statutes - Title 74. State Government Page 922
Commission shall revise the rates, fees, tolls or charges from time
to time whenever necessary to ensure that the revenues to be derived
therefrom shall be fully sufficient to pay principal of and interest
on such bonds. The gross revenues derived by the Commission from
the operation of any part or parts of the properties of the
Commission, but no revenues derived by the Commission through
legislative appropriation or from sources other than operation of
the properties of the Commission, may be pledged to the payment of
principal and interest. Notwithstanding any other provisions of
law, the Commission may use money derived from annual legislative
appropriations on a year-to-year basis, as authorized by the
Legislature, to repay any obligations to the Oklahoma Water
Resources Board pursuant to Sections 1085.51 and 1085.71 et seq. of
Title 82 of the Oklahoma Statutes.
B. The Commission is hereby authorized to construct
improvements in several parks and authorize the issuance of bonds
for all such improvements, and to pledge for the payment of the
bonds and the interest thereon, revenues derived by the Commission
from the operation of any or all of the parks in which any
consolidated bond issue has been authorized.
C. The Commission is further authorized to construct state-of-
the-art tourism information centers on interstate highways
including, but not limited to, entry points near the borders of the
state and major metropolitan areas, and authorize the issuance of
bonds for all construction projects, and to pledge for the payment
of such bonds and the interest thereon, revenues derived by the
Commission from the lease or operation of any or all of the tourism
information centers for which any such consolidated bond issue has
been authorized.
D. Any revenues which may be received by the Commission for the
use of such buildings or improvements, in whole or in part, shall be
regarded as all other revenues of the Commission and shall be
subject to be pledged to the payment of bonds issued hereunder.
Each bond shall recite in substance that such bond and the interest
thereon is payable solely from the revenues pledged to the payment
thereof, and that such bond does not constitute a debt of the
Commission or of the state within the meaning of any constitutional
or statutory limitation.
Status: in_force · Read it on the official government site
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