Okla. Stat. tit. 11, § 11-22-153: Authority to issue certain revenue bonds and

obligations - Limitations.

Any municipality may issue its obligations in the manner set out

in the Oklahoma Municipal Utility Revenue Bond Act in order to

finance, or to refinance, all or a part of the cost of the

acquisition, purchase or construction of, or the making of

improvements to any public utility owned or to be owned exclusively

by said municipality, and said obligations shall be payable from and

secured by the revenues resulting from the operation of the

municipality's revenue-producing public utilities or any part

thereof. Provided, nothing herein shall authorize or be construed

to authorize a municipality to create a lien or mortgage on, or a

security interest in or with respect to such public utility or

utilities to secure said obligations. The obligations, when issued

and delivered, shall state on the face thereof that the revenue

indebtedness or contractual obligations created thereby are limited

obligations of the municipality payable from and secured by a lien

and charge on the revenues of funds pledged for their payment by the

governing body of the municipality and shall not constitute a

general indebtedness of the municipality, nor shall it invoke or

require the imposition of the general taxing power of such

municipality.