{"data":{"id":"us-ok/okla.-stat.-tit.-11-11-24-113","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 11, § 11-24-113","heading":"Rents, Rates and Other Charges; Corporation Commission","body":"Exemption.\n\nRents, Rates and Other Charges; Corporation Commission\n\nExemption. The Authority may establish, levy and collect or may\n\nauthorize, by contract, franchise, lease or otherwise, the\n\nestablishment, levying and collection of rents, rates and other\n\ncharges for the products and services afforded by the Authority or\n\nby or in connection with any project which it may construct,\n\nacquire, own, operate or control or with respect to which it may\n\nhave any interest or any right to the products and services thereof\n\nas it may deem necessary, proper, desirable or reasonable. Rents,\n\nrates and other charges shall be at least sufficient to meet the\n\noperation, maintenance and other expenses thereof, including\n\nreasonable reserves, interest and principal payments, including\n\npayments into one or more sinking funds for the retirement of\n\nprincipal, to comply with all terms and provisions of the bond\n\nresolution, trust indenture or other security agreement relating to\n\nthe bonds issued in connection with any project, to accumulate any\n\nexcess income which may be required by the purchasers of such bonds\n\nor may be dictated by the requirements of such bond resolution,\n\ntrust indenture or security agreement for achieving ready\n\nmarketability of and low interest on such bonds and to generate\n\nfunds sufficient to fulfill the terms of any other contracts or\n\nagreements made by the Authority. The Authority may pledge its\n\nrates, rents and other revenue, or any part thereof, as security for\n\nthe repayment, with interest and premium, if any, of any monies\n\nborrowed by it or advanced to it for any of its authorized purposes\n\nand as security for the payment of amounts due and owing by it under\n\nany contract.\n\nThe Authority shall be exempt in any and all respects from the\n\njurisdiction or control of the Oklahoma Corporation Commission.\n\nNothing herein shall be construed as depriving the State of Oklahoma\n\nof its power to regulate and control fees and/or charges to be\n\ncollected for the use of any products and services afforded by the\n\nAuthority, provided, that the State of Oklahoma does hereby pledge\n\nto and agree with the purchasers and successive holders of the bonds\n\nissued hereunder that the state will not limit or alter the power\n\nhereby vested in the Authority to establish, levy and collect such\n\nrents, rates and other charges as will produce revenue sufficient to\n\nmeet the operation, maintenance and other expenses set forth in the\n\npreceding paragraph of this Section 13, or in any way to impair the\n\nrights or remedies of the holders of the bonds, or of any person in\n\ntheir behalf, until the bonds, together with the interest thereon,\n\nwith interest on unpaid installments of interest and all costs and\n\nexpenses in connection with any action or proceedings by or on\n\nbehalf of the bondholders and all other obligations of the Authority\n\nin connection with such bonds are fully met and discharged.","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":"3efe5bd6980154a226bcafd6cd756cd8a40b5c8afef6ac39905896edb0375d35","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-11-11-24-112","next":"us-ok/okla.-stat.-tit.-11-11-24-115"},"notice":"GroundRules: Original legal text. Not legal advice."}