Oklahoma § 82-647 - Borrowing of money - Approval
Full text of Oklahoma Oklahoma Statutes § 82-647 — Borrowing of money - Approval, with citation guidance and answers to common questions.
§ 82-647. Borrowing of money - Approval
Conservancy districts may borrow money in any amount, which,
exclusive of interest, does not exceed the assessments then levied
but not collected, for any purpose incident to its powers and
functions and for any purpose provided by law, and may evidence such
debt by contract, agreement, notes or warrants payable within any
term not to exceed forty (40) years, and to bear interest at not to
exceed the market prime rate per year, provided that the interest
rate not exceed twelve and one-half percent (12 1/2%) per year. To
secure such loan or loans, the directors may pledge any assessment
then levied but not collected by the district and may agree to such
other terms and conditions, not incompatible with the provisions of
this title. Before any such loan is entered into by the district,
the board of directors shall make application to the district court
having jurisdiction of said district for approval of such loan. The
application shall set forth, the amount of the loan, the interest
rate, the purpose for which the loan is needed and a plan of
repayment. The application shall be set for hearing by the court
and notice by publication given to all owners of land upon which
assessment has been made by the district, without naming such owners
individually. Upon said hearing, if the owners of land in the
district upon which a majority of assessment has been made have not
filed written protests before the date of the hearing, and if the
Oklahoma Statutes - Title 82. Waters and Water Rights
court finds that such loan is necessary and in the best interests of
the district, the court shall approve the application.
Amended by Laws 1987, c. 208, § 33, operative July 1, 1987; Laws
1987, c. 236, § 62, emerg. eff. July 20, 1987.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 82-647
What does Oklahoma Statutes § 82-647 cover?
Section 82-647 ("Borrowing of money - Approval") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 82-647?
A common citation format is "Oklahoma Statutes § 82-647" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 82-647 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.