Oklahoma § 3-65.10 - See the following versions:

§ 3-65.10. See the following versions:

OS 3-65.10v1 (HB 3672, Laws 2024, c. 18, § 8).

OS 3-65.10v2 (SB 1912, Laws 2024, c. 135, § 8).

§3-65.10v1. Bond issues - Financing acquisitions, costs and

improvements.

The cost of planning and acquiring, establishing, developing,

constructing, enlarging, improving, or equipping, an airport,

vertiport, or air navigation facility, or the site therefor,

including buildings and other facilities incidental to the operation

thereof, and the acquisition or elimination of airport hazards, may

be paid for wholly or partly from the proceeds of the sale of bonds

or notes of the municipality, as the governing body of the

municipality shall determine. For such purposes a municipality may

issue general or special obligation bonds, revenue bonds or other

forms of bonds or notes, secured or unsecured, including refunding

bonds, in the manner and within the limitations prescribed by the

laws of this state or the charter of the municipality for the

authorization and issuance of bonds or notes thereof for public

purposes generally. Any bonds or notes issued by a municipality

pursuant to this act which are payable, as to principal and

interest, solely from the revenues of an airport, vertiport, or air

navigation facility (and such bonds or notes shall so state on their

face) shall not constitute a debt of such municipality within the

meaning of any constitutional or statutory debt limitation or

restriction. In any suit, action or proceeding involving the

security, or the validity or enforceability, of any bond or note

issued by a municipality, which bond or note states on its face that

it was issued pursuant to the provisions of this act and for a

purpose or purposes authorized to be accomplished by this act, such

bond or note shall be conclusively deemed to have been issued

pursuant to this act for such purpose or purposes.

Added by Laws 1947, p. 19, § 10. Amended by Laws 2024, c. 18, § 8,

eff. Nov. 1, 2024.

§3-65.10v2. Bond issues - Financing acquisitions, costs and

improvements.

The cost of planning and acquiring, establishing, developing,

constructing, enlarging, improving, or equipping, an airport,

vertiport, or air navigation facility, or the site therefor,

including buildings and other facilities incidental to the operation

thereof, and the acquisition or elimination of airport hazards, may

be paid for wholly or partly from the proceeds of the sale of bonds

or notes of the municipality, as the governing body of the

municipality shall determine. For such purposes a municipality may

Oklahoma Statutes - Title 3. Aircraft and Airports

issue general or special obligation bonds, revenue bonds or other

forms of bonds or notes, secured or unsecured, including refunding

bonds, in the manner and within the limitations prescribed by the

laws of this state or the charter of the municipality for the

authorization and issuance of bonds or notes thereof for public

purposes generally. Any bonds or notes issued by a municipality

pursuant to the Municipal Airports Act which are payable, as to

principal and interest, solely from the revenues of an airport,

vertiport, or air navigation facility (and such bonds or notes shall

so state on their face) shall not constitute a debt of such

municipality within the meaning of any constitutional or statutory

debt limitation or restriction. In any suit, action or proceeding

involving the security, or the validity or enforceability, of any

bond or note issued by a municipality, which bond or note states on

its face that it was issued pursuant to the provisions of this act

and for a purpose or purposes authorized to be accomplished by this

act, such bond or note shall be conclusively deemed to have been

issued pursuant to this act for such purpose or purposes.

Added by Laws 1947, p. 19, § 10. Amended by Laws 2024, c. 135, § 8,

eff. Nov. 1, 2024.