Oklahoma § 73-152 - Authority created - Membership - Officers - Quorum - Bond

§ 73-152. Authority created - Membership - Officers - Quorum - Bond

A. There is hereby created a body corporate and politic to be

known as the "Oklahoma Capitol Improvement Authority" and by that

name the Authority may sue and be sued and plead and be impleaded.

The Authority is hereby constituted an instrumentality of the state

and the exercise by the Authority of the powers conferred by

Sections 151 through 214 of this title, in the construction,

equipping, operation, and maintenance of the state building or

buildings hereinafter referred to as the "building", and in the

construction, improvement, repair, and maintenance of the highway

infrastructure in this state, shall be deemed and shall be held to

be an essential governmental function of the state.

B. The Authority shall consist of eight (8) members, including

the Governor of the state, who shall be Chairman of the Authority,

the State Treasurer, the Lieutenant Governor, who shall be Vice

Chairman of the Authority, the Director of Central Services, the

Director of Human Services, the Secretary-Member of the Oklahoma Tax

Commission, the Director of the Oklahoma Department of Tourism and

Recreation, and the Director of Oklahoma Department of

Transportation.

C. The Authority shall elect one of its members as Secretary.

Four members of the Authority shall constitute a quorum and the vote

of four members shall be necessary for any action taken by the

Authority. No vacancy in the membership of the Authority shall

Oklahoma Statutes - Title 73. State Capital and Capitol Building

impair the rights of a quorum to exercise and perform all of the

rights and duties of the Authority. The members of the Authority

shall not be entitled to compensation for their services, but each

member shall be reimbursed for actual expenses necessarily incurred

in the performance of official duties.

D. Before the issuance of any revenue bonds pursuant to the

provisions of Sections 151 through 214 of this title, each member of

the Authority shall execute a surety bond in the sum of Twenty-five

Thousand Dollars ($25,000.00), each such bond to be conditioned upon

the faithful performance of the duties of the office, as such

member, to be executed by a surety company authorized to transact

business in the State of Oklahoma, as surety, and to be approved by

the Governor and filed in the office of the Secretary of State.

Added by Laws 1959, p. 249, § 2, emerg. eff. June 27, 1959. Amended

by Laws 1979, c. 241, § 8, operative July 1, 1979; Laws 1982, c.

318, § 3, emerg. eff. June 1, 1982; Laws 1983, c. 304, § 86, eff.

July 1, 1983; Laws 1997, c. 329, § 5, eff. July 1, 1997; Laws 2003,

c. 472, § 26.