{"data":{"id":"us-ok/okla.-stat.-tit.-11-11-24-107","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 11, § 11-24-107","heading":"Powers, rights and privileges of Authority","body":"A. The Authority shall have and is hereby authorized to\n\nexercise all powers, rights and privileges enumerated in this\n\nsection. Such powers, rights and privileges shall be exercised by\n\nits Board of Directors unless otherwise specifically provided herein\n\nor by the bylaws of the Authority as in effect from time to time.\n\nB. The Authority may plan, finance, acquire, construct,\n\nreconstruct, own, lease, operate, maintain, repair, improve, extend\n\nor otherwise participate, individually or jointly with other\n\npersons, in one or more projects, proposed, existing or under\n\nconstruction, and may act as agent, or designate one or more\n\npersons, whether or not participating in a project, to act as its\n\nagent, in connection with the planning, financing, acquisition,\n\nconstruction, reconstruction, ownership, lease, operation,\n\nmaintenance, repair, extension or improvement of the project.\n\nC. The Authority may investigate the desirability of and\n\nnecessity for additional sources and supplies of electrical energy\n\nand fuel and other supplies of any kind for such purpose, and make\n\nstudies, surveys and estimates as may be necessary to determine the\n\nfeasibility and cost thereof.\n\nD. The Authority may cooperate with other persons in the\n\ndevelopment of sources and supplies of electrical energy and fuel\n\nand other supplies of any kind for such purposes, and give\n\nassistance with personnel and equipment in any project.\n\nE. The Authority may apply to any person for consents,\n\nauthorizations or approvals required for any project within its\n\npowers and take all actions necessary to comply with the conditions\n\nthereof.\n\nF. The Authority may perform any act authorized by the Oklahoma\n\nMunicipal Power Authority Act through, or by means of, its officers,\n\nagents or employees or by contract with any person including,\n\nwithout limitation, the employment of engineers, architects,\n\nattorneys, appraisers, financial advisors and such other consultants\n\nand employees as may be required in the judgment of the Board of\n\nDirectors, and fix and pay their compensation from funds available\n\nto the Authority therefor.\n\nG. The Authority may acquire, hold, use and dispose of income,\n\nrevenues, funds and money.\n\nH. The Authority may, individually or jointly with other\n\npersons, acquire, own, hire, use, operate and dispose of personal\n\nproperty and any interest therein.\n\nI. The Authority may, individually or jointly with other\n\npersons, acquire, own, use, lease as lessor or lessee, operate and\n\ndispose of real property and interests in real property including\n\nprojects existing, proposed or under construction, and make\n\nimprovements thereon.\n\nJ. The Authority may grant the use by franchise, lease or\n\notherwise and make charges for the use of any property or facility\n\nowned or controlled by it.\n\nK. The Authority may borrow money and issue negotiable bonds,\n\nsecured or unsecured, in accordance with Section 24-101 et seq. of\n\nthis title, and may enter into interest rate swaps and other\n\nderivative products, and other financial instruments intended to\n\nhedge interest rate risk or manage interest rate costs including any\n\noption to enter into or terminate any of them, that the Authority\n\ndeems to be necessary or desirable in connection with any bonds\n\nissued prior to, at the same time as, or after entering into such\n\narrangement, and containing such terms and provisions, and may be\n\nwith such parties, as determined by the Authority. Provided, any\n\naction taken by the Authority pursuant to this subsection must first\n\nbe approved by the Office of the Deputy Treasurer for Debt\n\nManagement and the Council of Bond Oversight pursuant to the\n\nprovisions of the Oklahoma Bond Oversight and Reform Act.\n\nL. The Authority may invest money of the Authority not required\n\nfor immediate use including proceeds from the sale of any bonds.\n\nM. The Authority may exercise the power of eminent domain in\nthis subsection must first\n\nbe approved by the Office of the Deputy Treasurer for Debt\n\nManagement and the Council of Bond Oversight pursuant to the\n\nprovisions of the Oklahoma Bond Oversight and Reform Act.\n\nL. The Authority may invest money of the Authority not required\n\nfor immediate use including proceeds from the sale of any bonds.\n\nM. The Authority may exercise the power of eminent domain in\n\naccordance with the provisions of Section 24-110 of this title.\n\nN. The Authority may determine the location and character of,\n\nand all other matters in connection with, any and all projects it is\n\nauthorized to acquire, hold, establish, effectuate, operate or\n\ncontrol.\n\nO. The Authority may contract with any person for the planning,\n\ndevelopment, construction, operation, sale or lease as lessor or\n\nlessee of any project or for any interest therein, on such terms and\n\nfor such period of time as its Board of Directors shall determine.\n\nP. The Authority may contract with any eligible public agency,\n\nany public trust, or any other person for the sale of power and\n\nenergy, transmission services, power supply development services or\n\nother services within or without this state on such terms and\n\nconditions as the Board of Directors shall approve. Any such\n\ncontract may be for the sale of output and services of a particular\n\nproject or may be for output and services generally without regard\n\nto a specific project and may be for the supply of a specific\n\nquantity of output or a percentage of the output of a specific\n\nproject or other specific facility or may be based on the\n\nrequirements of the purchaser or may be on such other terms and\n\nconditions as the Board of Directors deems appropriate.\n\nQ. The Authority may enter into any contract or agreement\n\nnecessary, appropriate or incidental to the effectuation of its\n\nlawful purposes and the exercise of the powers granted by the\n\nOklahoma Municipal Power Authority Act including, without\n\nlimitation, contracts or agreements for the purchase, sale,\n\nexchange, interchange, wheeling, pooling, transmission or storage of\n\nelectric power and energy, and fuel and other supplies of any kind\n\nfor any such purposes, within and without this state, in such\n\namounts as it shall determine to be necessary and appropriate to\n\nmake the most effective use of its powers and to meet its\n\nresponsibilities, on such terms and for such period of time as the\n\nBoard of Directors determines, and derivative or other instruments\n\nintended to hedge fuel cost risk associated with any projects or\n\npower purchases or supply arrangements of the Authority, or to hedge\n\nfixed or variable interest rate exposure associated with permitted\n\ninvestments including any option to enter into or terminate any of\n\nthem, that the Authority deems to be necessary or desirable, and\n\ncontaining such terms and provisions, and may be with such parties,\n\nas determined by the Authority.\n\nR. In any case in which the Authority participates in a project\n\nas a joint owner with one or more persons, the Authority may enter\n\ninto an agreement or agreements with respect to such project with\n\nthe other person or persons participating therein, and any such\n\nagreement may contain such terms, conditions and provisions\n\nconsistent with the provisions of the act as the parties thereto\n\nshall deem to be in their best interest. Any such agreement may\n\ninclude, but need not be limited to, provisions defining what\n\nconstitutes a default thereunder and providing for the rights and\n\nremedies of the parties thereto upon the occurrence of such a\n\ndefault deemed appropriate by the Board of Directors including, to\n\nthe extent deemed appropriate, the acquisition by nondefaulting\n\nparties of all or any part of the defaulting party's interest;\n\nprovisions setting forth such restraints on alienation of the\ng for the rights and\n\nremedies of the parties thereto upon the occurrence of such a\n\ndefault deemed appropriate by the Board of Directors including, to\n\nthe extent deemed appropriate, the acquisition by nondefaulting\n\nparties of all or any part of the defaulting party's interest;\n\nprovisions setting forth such restraints on alienation of the\n\ninterests of the parties in the project as the Board of Directors\n\ndeems appropriate; provisions for the construction, operation and\n\nmaintenance of such electric generation or transmission facility by\n\nany one or more of the parties to such agreement which party or\n\nparties shall be designated in or pursuant to such agreement as\n\nagent or parties thereto or by such other means as may be determined\n\nby the parties thereto; and provisions for a method or methods of\n\ndetermining and allocating, among or between the parties, costs of\n\nconstruction, operation, maintenance, renewals, replacements,\n\nimprovements and disposals with respect to such project. In\n\nexercising its power to participate in a project as a joint owner\n\nwith one or more persons, the Authority may not loan its credit to\n\nany person which is a joint owner of such project; provided,\n\nhowever, the appropriate allocations of the costs of construction,\n\noperation, maintenance, renewals, replacements, improvements and\n\ndisposals with respect to such project between the Authority and\n\nsuch persons shall not be a loan of credit by the Authority to such\n\npersons. In carrying out its functions and activities as such agent\n\nwith respect to construction, operation and maintenance of a\n\nproject, such agent shall be governed by the laws and regulations\n\napplicable to such agent as a separate legal entity and not by any\n\nlaws or regulations which may be applicable to any of the other\n\nparticipating parties. Notwithstanding anything contained in any\n\nother law to the contrary, pursuant to the terms of any such\n\nagreement, the Authority may delegate its powers and duties with\n\nrespect to the construction, operation and maintenance of such\n\nproject to the person acting as agent; and all actions taken by such\n\nagent in accordance with the provisions of such agreement may be\n\nmade binding upon the Authority without further action or approval\n\nby the Authority.\n\nS. The Authority may procure insurance against any losses in\n\nconnection with its property, operations or assets in such amounts\n\nand from such insurers as it deems desirable, or may self-insure\n\nagainst such losses.\n\nT. The Authority may contract for and accept any gifts, grants\n\nor loans of funds or property or financial or other aid in any form\n\nfrom any person, and may comply, subject to the provisions of the\n\nOklahoma Municipal Power Authority Act, with the terms and\n\nconditions thereof.\n\nU. The Authority may adopt a corporate seal and may sue or be\n\nsued.\n\nV. The Authority may exercise all other powers not inconsistent\n\nwith the Oklahoma Constitution or the United States Constitution,\n\nwhich powers may be reasonably necessary or appropriate for or\n\nincidental to effectuate its authorized purposes or to the exercise\n\nof any of the powers enumerated in the Oklahoma Municipal Power\n\nAuthority Act.\n\nW. Notwithstanding any other provision herein seemingly to the\n\ncontrary, the Authority may not sell output (i) at retail to the\n\nultimate consumers thereof, or (ii) to any municipality which does\n\nnot own an electrical energy distribution system.","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":"b75c469a7c4000c84aa0d961b6fee69f3c2be2931bc8f9bf642daf155720e3a6","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-11-11-24-106","next":"us-ok/okla.-stat.-tit.-11-11-24-108"},"notice":"GroundRules: Original legal text. Not legal advice."}