{"data":{"id":"us-ok/okla.-stat.-tit.-11-11-22-152","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 11, § 11-22-152","heading":"Definitions","body":"For purposes of the Oklahoma Municipal Utility Revenue Bond Act\n\nand the implementation of Section 27B of Article X of the Oklahoma\n\nConstitution:\n\n1. \"Affirmative vote of at least three-fourths (3/4) of all\n\nmembers of such governing body\" shall mean an affirmative vote by\n\npersons comprising not less than three-fourths (3/4) of the total\n\nnumber of members provided by law, municipal ordinance or charter as\n\nconstituting the governing body of said municipality;\n\n2. \"Bond counsel\" shall mean an attorney or firm of attorneys\n\nqualified and experienced in public finance transactions, and who\n\nrenders an opinion as to the validity and enforceability of the\n\nobligations issued pursuant to the Oklahoma Municipal Utility\n\nRevenue Bond Act;\n\n3. \"Financial advisor\" shall mean a person or firm qualified\n\nand experienced in public finance transactions, and who renders\n\nadvice and counsel to the municipality regarding fiscal and\n\nmarketing aspects pertaining to the obligations issued pursuant to\n\nthe Oklahoma Municipal Utility Revenue Bond Act. Provided, any such\n\nfinancial advisor shall not be permitted to bid on, underwrite,\n\npurchase or take part in the marketing of the obligations nor have\n\nany other pecuniary interest therein, other than the fee negotiated\n\nwith the municipality for the services of such financial advisor;\n\n4. \"Improve\" means to construct, reconstruct, maintain,\n\nrestore, replace, renew, repair, install, equip, extend, purchase,\n\nalter or otherwise perform any work which provides a new facility,\n\nor enhances, extends or restores the value or usefulness of an\n\nexisting facility;\n\n5. \"Improvement\" means any type of improvement made by\n\nauthority of the Oklahoma Municipal Utility Revenue Bond Act and\n\nincludes reimprovement of any prior improvement made pursuant to the\n\nprovisions of this or any other applicable act;\n\n6. \"Municipality\" shall mean any city or town duly incorporated\n\nand validly existing pursuant to the laws of Oklahoma;\n\n7. \"Obligations\" shall mean collectively, bonds, notes or other\n\nevidences of indebtedness, or any of them, issued by a municipality\n\npursuant to Section 27B of Article X of the Oklahoma Constitution\n\nand the provisions of the Oklahoma Municipal Utility Revenue Bond\n\nAct, and may include refunding obligations;\n\n8. \"Public trust\" shall mean an Oklahoma public trust created\n\npursuant to and existing in accordance with Sections 176 through\n\n180.4 of Title 60 of the Oklahoma Statutes and which has the\n\nmunicipality as a beneficiary; provided, for purposes of the\n\nOklahoma Municipal Utility Revenue Bond Act, \"public trust\" shall\n\nnot include a trust created for industrial purposes; and\n\n9. \"Qualified voters\" or \"voters\" shall mean the voters of a\n\nmunicipality duly qualified to vote in a special municipal election\n\non the issuance of bonds of the municipality or on the question of\n\nmaking improvements to public utilities, under the laws, ordinances\n\nand charter provisions applicable at the time such election is held.\n\nAs used in the Oklahoma Municipal Utility Revenue Bond Act, the\n\nsingular shall include the plural, and unless indicated herein,\n\ndefined words shall have the same meaning whether or not\n\ncapitalized.","path":["OK Code","Title 11"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os11.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"2993e6c16b2aaf477fb2dda4c3306330e3f50429841fd0fc7a6db2c1181e8791","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-11-11-22-151","next":"us-ok/okla.-stat.-tit.-11-11-22-153"},"notice":"GroundRules: Original legal text. Not legal advice."}