Oklahoma § 74-2271 - Authority to issue revenue notes and bonds - Guaranties

§ 74-2271. Authority to issue revenue notes and bonds - Guaranties

and insurance.

The Commission is hereby authorized to:

1. Make and issue notes and bonds, and pledge revenues of the

Commission subject to the Oklahoma Bond Oversight and Reform Act.

The Commission revenue notes and bonds issued under the provisions

of this act shall not at any time be deemed to constitute a debt of

the state or of any political subdivision thereof or a pledge of the

faith and credit of the state or of any political subdivision. Such

notes and bonds shall be payable solely from the revenues of the

Department and any other funds as may be provided by law for such

payments and shall contain on their face a statement to that effect;

and

2. Arrange for guaranties or insurance of its notes and bonds

by the federal government or by any private insurer, and to pay any

premiums therefrom.

Added by Laws 2005, c. 363, § 72, eff. Nov. 1, 2005.