{"data":{"id":"us-ok/okla.-stat.-tit.-11-11-39-116","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 11, § 11-39-116","heading":"Duty of city relative to assessments and bonds -","body":"Personal liability.\n\nA. Whenever a district has been created and bonds have been\n\nissued to finance the improvement, a city shall either itself, or\n\nacting through a third party administrator:\n\n1. Collect the assessments annually or semiannually;\n\n2. Act as trustee for the benefit of the holders of the bonds;\n\nprovided that, the city may contract with a bank with trust powers\n\nto act as trustees;\n\n3. Annually prepare a statement which shall:\n\na. be available for inspection in the office of the city\n\ntreasurer,\n\nb. reflect the financial condition of the district,\n\nc. list all the delinquencies existing at that time, and\n\nd. institute proceedings to foreclose the assessment lien\n\nagainst any tract or parcel of land which is\n\ndelinquent in the payment of the assessment or\n\ninstallment of an assessment for a period of more than\n\none (1) year. In lieu of the foreclosure of a lien\n\nagainst any tract or parcel of land which is\n\ndelinquent in the payment of an assessment or\n\ninstallment of an assessment for a period of more than\n\none (1) year, a city may accept a deed to the property\n\nsubject to the lien if the owner of the property\n\ntenders the deed to the municipality.\n\nB. If more than one district is created, the money from\n\nassessments in each district shall be kept in a separate fund and\n\nused for the payment of principal and interest of the bonds\n\noutstanding against that district. Nothing herein shall prevent the\n\nappointment and compensation by the district of a registrar,\n\ntransfer, authenticating, paying or other agents to effect the\n\ntransfer of ownership, change of payee of any bond issued by the\n\ndistrict and to maintain books and records relating thereto.\n\nC. Neither any member of the governing body of a city creating\n\na district nor any person acting on behalf of the city or district,\n\nwhile acting within the scope of his or her authority, shall be\n\nsubject to any personal liability for any action taken or omitted\n\nwithin that scope of authority.","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":"9923c8d7018139b3096b56cc3d53121edad3f0dfc32230f00d568f03bb07be78","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-11-11-39-115","next":"us-ok/okla.-stat.-tit.-11-11-39-117"},"notice":"GroundRules: Original legal text. Not legal advice."}