Okla. Stat. tit. 11, § 11-35-203: Procedure for sale or lease of public utility - Notice

- Election.

The procedure for the sale or lease of a municipally-owned

public utility shall be as follows:

1. When the governing body of any municipality, as defined in

Section 35-201 of this title, desires to offer for sale or lease any

public utility belonging to the municipality, it shall authorize by

resolution the proper officers of the municipality to give notice

and advertise for bids. The notice shall state that on a specified

day the governing body will receive open bids for the sale or lease

of the public utility. The notice shall also state the requirements

for submission of bids, as provided in Section 35-204 of this title;

2. The notice shall be published in two (2) consecutive issues of a

newspaper of general circulation in the municipality. The two

publications shall be seven (7) days apart, and the first

publication of the notice shall be at least fifteen (15) days before

open bids will be received;

3. The municipal governing body shall receive bids on the

specified date and select the highest and best bid for the sale or

lease of the public utility, if satisfactory to the governing body;

4. After selecting the highest and best bidder, the governing

body shall, by ordinance, call for an election for the submission of

the following propositions to the registered voters of the

municipality:

a. the question of the proposed sale or lease of the

public utility to the highest and best bidder, and;

b. at the same time, the question of the granting of a

franchise to the bidder if such a franchise is required by the

Oklahoma Constitution.

The questions shall be submitted on the same day. If a franchise is

required by the Oklahoma Constitution, the sale of the utility shall

be conditioned upon the franchise being granted to the bidder by

vote of the people at the election. The election shall be conducted

in the manner provided by law for the granting of franchise; and

5. If the highest and best bidder for the public utility under

the procedure herein defined shall be the owner of a competing

utility operating under a valid franchise or permit, it shall be

necessary only to submit to the registered voters the question of

the sale of the municipal utility.