{"data":{"id":"us-ok/okla.-stat.-tit.-11-11-22-154","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 11, § 11-22-154","heading":"Additional sources of security for utility revenue","body":"obligations.\n\nNothing in the Oklahoma Municipal Utility Revenue Bond Act shall\n\nprevent a municipality from dedicating sales taxes or other\n\nmunicipal taxes as an additional source of payment and security for\n\nits utility revenue obligations, provided that the dedication of\n\nsuch tax revenue is approved by a majority of municipal voters\n\nvoting at an election held for that purpose, in the manner set out\n\nin Section 2701 of Title 68 of the Oklahoma Statutes and other\n\napplicable laws, on a ballot question separate from the question of\n\nthe issuance of revenue obligations. Further, nothing in the\n\nOklahoma Municipal Utility Revenue Bond Act shall prevent a\n\nmunicipality from purchasing a policy of municipal bond insurance,\n\nsecuring a rating on the creditworthiness of the obligations,\n\nobtaining a letter of credit and other such credit enhancement\n\nproduct generally utilized in the public finance industry to further\n\nenhance and secure the obligations, provided, that at the time of\n\nthe securing of such credit enhancement it reasonably appears to the\n\ngoverning body of the municipality that such credit enhancement\n\nshall result in a reduction in the amount of interest to be paid by\n\nthe municipality over the life of the obligations, taking into\n\naccount the cost of such credit enhancement. The dedication of such\n\nmunicipal taxes or the providing of credit enhancement for the\n\nobligations shall be at the sound discretion of the governing body\n\nof the municipality.","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":"500662cdc65d83c1193e6da1af08dae71a9873a624a0af27ddf33230ae4590e3","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-11-11-22-153","next":"us-ok/okla.-stat.-tit.-11-11-22-155"},"notice":"GroundRules: Original legal text. Not legal advice."}