Okla. Stat. tit. 82, § 82-1126
This is the official text of Okla. Stat. tit. 82, § 82-1126, part of Oklahoma’s Stat. tit. 82, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 82,." Browse the sections below, each linked to its official government source.
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Bonds as special obligation of port authority concerned
Official statutory text
No provision of this act shall be construed to authorize the
pledge or use of any appropriated funds of the State of Oklahoma, or
any ad valorem tax revenues or any other tax revenues, for the
payment or security of any bonds issued pursuant to this act. No
bonds issued under provisions of this act shall ever become a debt
or obligation of the State of Oklahoma, nor shall the faith and
credit of the State of Oklahoma be pledged in whole or in part,
directly or indirectly, for the payment of such bonds, or interest
thereon. Bonds issued under this act shall not be an indebtedness
Oklahoma Statutes - Title 82. Waters and Water Rights Page 292
of any county or counties, or any municipal corporation or municipal
corporations, which shall have created or joined in the formation of
the port authority issuing the same. All bonds issued pursuant to
this act shall be special obligations of the port authority
concerned, payable solely from the revenues of the buildings and
facilities referred to therein. Such bonds shall contain on the
face thereof a statement to the effect that neither the state, nor
any county or municipal corporation concerned shall be obligated to
pay the same, or the interest thereon, except from revenues of such
facilities; and that neither the faith and credit nor the taxing
power of the state or any political subdivision thereof is pledged
or may hereafter be pledged to the payment of principal of or
interest on such bonds.
pledge or use of any appropriated funds of the State of Oklahoma, or
any ad valorem tax revenues or any other tax revenues, for the
payment or security of any bonds issued pursuant to this act. No
bonds issued under provisions of this act shall ever become a debt
or obligation of the State of Oklahoma, nor shall the faith and
credit of the State of Oklahoma be pledged in whole or in part,
directly or indirectly, for the payment of such bonds, or interest
thereon. Bonds issued under this act shall not be an indebtedness
Oklahoma Statutes - Title 82. Waters and Water Rights Page 292
of any county or counties, or any municipal corporation or municipal
corporations, which shall have created or joined in the formation of
the port authority issuing the same. All bonds issued pursuant to
this act shall be special obligations of the port authority
concerned, payable solely from the revenues of the buildings and
facilities referred to therein. Such bonds shall contain on the
face thereof a statement to the effect that neither the state, nor
any county or municipal corporation concerned shall be obligated to
pay the same, or the interest thereon, except from revenues of such
facilities; and that neither the faith and credit nor the taxing
power of the state or any political subdivision thereof is pledged
or may hereafter be pledged to the payment of principal of or
interest on such bonds.
Status: in_force · Read it on the official government site
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