Oklahoma § 82-636.1 - Authority to contract indebtedness

§ 82-636.1. Authority to contract indebtedness

The board of directors of any Conservancy District or Master

Conservancy District, notwithstanding any other provision of the

Conservancy Act of Oklahoma, and in addition to all other powers

conferred by law, may borrow money and otherwise contract

indebtedness for the purposes set forth in the Conservancy Act of

Oklahoma, and, without limitation of the generality of the

foregoing, to borrow money and accept grants from the United States

of America, or from any corporation or agency created or designated

by the United States of America, and, in connection with such loan

or grant, to enter into such agreements as the United States of

America or such corporation or agency may require; and to issue its

bonds, notes or obligations therefor, and to secure the payment

thereof by mortgage, pledge or deed of trust on all or any property,

assets, franchises, rights, privileges, licenses, rights-of-way,

easements, revenues, or income of the District. The bonds, notes or

obligations issued pursuant to this section shall not be secured or

retired by any assessment of real property located within the

District nor shall they be deemed a general obligation of the State

of Oklahoma, any municipality or the District.

Added by Laws 1995, c. 112, § 7, emerg. eff. April 21, 1995.