Okla. Stat. tit. 11, § 11-24-113: Rents, Rates and Other Charges; Corporation Commission

Exemption.

Rents, Rates and Other Charges; Corporation Commission

Exemption. The Authority may establish, levy and collect or may

authorize, by contract, franchise, lease or otherwise, the

establishment, levying and collection of rents, rates and other

charges for the products and services afforded by the Authority or

by or in connection with any project which it may construct,

acquire, own, operate or control or with respect to which it may

have any interest or any right to the products and services thereof

as it may deem necessary, proper, desirable or reasonable. Rents,

rates and other charges shall be at least sufficient to meet the

operation, maintenance and other expenses thereof, including

reasonable reserves, interest and principal payments, including

payments into one or more sinking funds for the retirement of

principal, to comply with all terms and provisions of the bond

resolution, trust indenture or other security agreement relating to

the bonds issued in connection with any project, to accumulate any

excess income which may be required by the purchasers of such bonds

or may be dictated by the requirements of such bond resolution,

trust indenture or security agreement for achieving ready

marketability of and low interest on such bonds and to generate

funds sufficient to fulfill the terms of any other contracts or

agreements made by the Authority. The Authority may pledge its

rates, rents and other revenue, or any part thereof, as security for

the repayment, with interest and premium, if any, of any monies

borrowed by it or advanced to it for any of its authorized purposes

and as security for the payment of amounts due and owing by it under

any contract.

The Authority shall be exempt in any and all respects from the

jurisdiction or control of the Oklahoma Corporation Commission.

Nothing herein shall be construed as depriving the State of Oklahoma

of its power to regulate and control fees and/or charges to be

collected for the use of any products and services afforded by the

Authority, provided, that the State of Oklahoma does hereby pledge

to and agree with the purchasers and successive holders of the bonds

issued hereunder that the state will not limit or alter the power

hereby vested in the Authority to establish, levy and collect such

rents, rates and other charges as will produce revenue sufficient to

meet the operation, maintenance and other expenses set forth in the

preceding paragraph of this Section 13, or in any way to impair the

rights or remedies of the holders of the bonds, or of any person in

their behalf, until the bonds, together with the interest thereon,

with interest on unpaid installments of interest and all costs and

expenses in connection with any action or proceedings by or on

behalf of the bondholders and all other obligations of the Authority

in connection with such bonds are fully met and discharged.