{"data":{"id":"us-ok/okla.-stat.-tit.-11-11-24-112","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 11, § 11-24-112","heading":"Powers of Eligible Public Agencies and Public Trusts","body":"Powers of Eligible Public Agencies and Public Trusts.\n\n(a) In order to accomplish the purposes of this act, any\n\neligible public agency, subject to the restrictions of Article 10,\n\nSections 17, 26 and 27 of the Constitution of the State of Oklahoma,\n\nor any public trust may enter into and carry out contracts and\n\nagreements for the purchase from the Authority of power and energy,\n\ntransmission services, power supply development services and other\n\nservices.\n\n(i) Each such contract and agreement shall be for such\n\nperiod and shall contain such other terms, conditions and\n\nprovisions, not inconsistent with the provisions of this act, as the\n\nBoard of Directors of the Authority shall approve, including,\n\nwithout limitation, provisions whereby the eligible public agency or\n\npublic trust is obligated to pay for the products and services of\n\nthe Authority without set-off or counterclaim and irrespective of\n\nwhether such products or services are furnished, made available or\n\ndelivered to the eligible public agency or public trust or whether\n\nany project contemplated by any such contract and agreement is\n\ncompleted, operable or operating, and notwithstanding suspension,\n\ninterruption, interference, reduction or curtailment of the products\n\nand services of such project.\n\n(ii) Each such contract and agreement may be pledged by\n\nthe Authority to secure its obligations and may provide that if one\n\nor more eligible public agencies or public trusts defaults in the\n\npayment of its obligations under such contract and agreement, the\n\nremaining eligible public agencies and public trusts having such\n\ncontracts and agreements shall be required to pay for and shall be\n\nentitled proportionately to use or otherwise dispose of the products\n\nand services which were to be purchased by the defaulting eligible\n\npublic agency or public trust.\n\n(iii) Each such contract and agreement shall be a limited\n\nobligation of an eligible public agency or public trust payable from\n\nand may be secured by a pledge of, and lien and charge upon, all or\n\nany part of the revenues derived or to be derived from the ownership\n\nand operation of its electric or other integrated utility system as\n\nand, if so provided in such contract or agreement, shall be an\n\nexpense of operation and maintenance thereof, and shall not\n\nconstitute an indebtedness of such eligible public agency or public\n\ntrust for the purpose of any statutory limitation.\n\n(iv) Nothing in this act shall be construed to preclude an\n\neligible public agency or public trust from appropriating and using\n\ntaxes and other revenues received in any year to make payments due\n\nor to comply with covenants to be performed during that year under\n\nany contract or agreement entered into as contemplated in this act.\n\n(b) Any such contract or agreement may include provisions for\n\nthe sale of output and services of a particular project or for\n\noutput and services generally without regard to a specific project\n\nand for the supply of a specific quantity of output or a percentage\n\nof the output of a specific project or other specific facilities or\n\nfor the supply of output based upon the requirements of the\n\npurchaser and on such other terms and conditions as the Board of\n\nDirectors and the contracting or agreeing party deem appropriate.\n\n(c) In the event of any failure or refusal on the part of the\n\neligible public agency or public trust to perform punctually any\n\ncovenant or obligation contained in any such contract, the Authority\n\nmay enforce performance by any legal or equitable process, including\n\nspecific performance.","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":"c03dc8a5a26b04b9f44d5770ed7e31c7f25ef9b30fcae5fc067d4fbcd668a5e6","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-11-11-24-111","next":"us-ok/okla.-stat.-tit.-11-11-24-113"},"notice":"GroundRules: Original legal text. Not legal advice."}