Oklahoma § 69-2004 - Annual lease of Highway 44 by Transportation Commission –

§ 69-2004. Annual lease of Highway 44 by Transportation Commission –

Amount and funding of lease payments.

A. In order to avoid the expenditure of funds for the currently

planned construction of four lanes parallel to the Will Rogers

Turnpike near Claremore, the Oklahoma Transportation Commission

shall enter into a lease with the Oklahoma Transportation Authority

for the Transportation Commission to lease, on an annual basis, that

part of the Will Rogers Turnpike also known as Interstate Highway

44, from its beginning near the interchange with U.S. Highway 412

and State Highway 66 at Catoosa and extending northeast to the

current interchange with State Highway 20 south of Claremore.

B. The lease between the Transportation Commission and the

Transportation Authority shall be an annual lease renewable by

agreement of the parties for a period of fifty (50) years. The

annual lease payment shall be based on the net revenue which would

have accrued to the Transportation Authority from tolls on the

leased portion of the turnpike. No funds available for expenditure

pursuant to Section 2001 of Title 69 of the Oklahoma Statutes shall

be used for this purpose.

C. The lease payments referred to in this section shall come

exclusively from the Oklahoma Department of Transportation monies

identified in the existing five-year plan for State Highway 20

running parallel to the Will Rogers Turnpike.

Added by Laws 2000, c. 401, § 3, eff. July 1, 2000.

Oklahoma Statutes - Title 69. Roads, Bridges, and Ferries