Okla. Stat. tit. 82, § 82-632

In order to facilitate the preliminary work, which shall

include, but not be limited to, the preparation of the official

plan, the appraisals and the cost of administration incidental

thereto, the board, by resolution, may borrow money at a rate of

interest not exceeding six percent (6%), per annum, evidenced by

interim bonds or notes of the district payable not later than five

(5) years from the date thereof, which resolution shall provide for

the levy and collection of an assessment against all property

included in the district for the payment of the principal and

interest on maturity. Provided, the total amount of money so

borrowed with interest shall not exceed twenty-five cents ($0.25)

per acre of all lands embraced in the project, and any such interim

bonds or notes issued in excess thereof shall be void, but such

board shall not issue interim bonds or notes to borrow money as

provided above, until such board has been authorized by the court

having jurisdiction of such district, after a public hearing, to

issue such interim bonds or notes. Notice by publication, setting

forth the purpose, time and place of said hearing shall be given by

the Clerk of such court. Upon said hearing if it appears that it is

necessary to fulfill the purposes of such district to borrow money

as set forth in the application to the court, the court shall enter

an order to such effect. If said interim bonds or notes shall not

have been paid, or refunded by the issuance of bonds or notes for

completion of the project prior to the time for the levy and

collection of the assessment for payment of the principal and

interest thereof, such an assessment shall be levied and collected

to pay said principal and interest as hereinabove in this title

provided.