§11-22-155. Submission of question of issuance of revenue
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/ok/title-11-cities-and-towns/11-22-155·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
obligations to finance acquisition, purchase or construction of public utility to voters.
Prior to and as a condition precedent to issuing revenue obligations under the Oklahoma Municipal Utility Revenue Bond Act, the governing body of a municipality shall submit the question of issuance of revenue obligations to finance the acquisition, purchase or construction of a public utility or combination of public utilities to qualified voters of the municipality at an election if:
1. The type or kind of public utility or utilities to be financed have not heretofore been owned or operated by the municipality or a public trust having the municipality as its beneficiary; or
2. The question of the acquisition, construction or purchase of the public utility or combination of utilities at issue has not been previously approved by a lawful majority of qualified voters of the municipality voting at an election held within ten
(10)years of the date of the election. Added by Laws 1992, c. 211, § 6, eff. July 1, 1992.