{"data":{"id":"us-ok/okla.-stat.-tit.-69-69-1711","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 69, § 69-1711","heading":"Tolls - Contracts for use of portions of project - Rents","body":"and charges - Use of revenues - Sinking funds - Regulation of motor\n\ncarriers.\n\nThe Authority, subject to the provisions hereof, is hereby\n\nauthorized to fix, revise, charge and collect tolls for the use of\n\neach turnpike project and the different parts or sections thereof,\n\nexcept for use by law enforcement officers responsible for enforcing\n\nthe traffic laws and the general laws of the state and federal\n\ngovernments on turnpikes, who shall be entitled to free use of every\n\nsuch project in the performance of official duties connected with\n\nsuch turnpike project, and to contract with any person, partnership,\n\nassociation or corporation desiring the use of any part thereof,\n\nincluding the right-of-way adjoining the paved portion, for placing\n\nthereon telephone, telegraph, electric light or power lines, gas\n\nstations, garages, stores, hotels, restaurants and advertising\n\nsigns, or for any other purpose except for tracks for railroad or\n\nrailway use, and to fix the terms, conditions, rents and rates of\n\ncharges for such use. Such tolls, subject to the other restrictions\n\nhereof, shall be so fixed and adjusted in respect of the aggregate\n\nof tolls from the turnpike project or projects in connection with\n\nwhich the bonds of any issue shall have been issued as to provide a\n\nfund sufficient with other revenues, if any, to pay (a) the cost of\n\nmaintaining, repairing, and operating such turnpike project or\n\nprojects, and (b) the principal of and the interest of such bonds as\n\nthe same shall become due and payable, and to create reserves for\n\nsuch purposes. The tolls and all other revenues derived from the\n\nturnpike project or projects in connection with which the bonds of\n\nany issue shall have been issued, except such part thereof as may be\n\nnecessary to pay such cost of maintenance, repair, and operation and\n\nto provide such reserves therefor as may be provided for in the\n\nresolution authorizing the issuance of such bonds or in the trust\n\nagreement securing the same shall be set aside at such regular\n\nintervals as may be provided in such resolution or such trust\n\nagreement in a sinking fund which is hereby pledged to, and charged\n\nwith, the payment of (a) the interest upon such bonds as such\n\ninterest shall fall due, (b) the principal of such bonds as the same\n\nshall fall due, (c) the necessary charges of paying agents for\n\npaying principal and interest, and (d) the redemption price or the\n\npurchase price of bonds retired by call or purchase as therein\n\nprovided, which are a charge against such fund. The use and\n\ndisposition of monies to the credit of such sinking fund shall be\n\nsubject to the provisions of the resolution authorizing the issuance\n\nof such bonds or of such trust agreement. Except as may otherwise be\n\nprovided in such resolution or such trust agreement, such sinking\n\nfund shall be a fund for all such bonds without distinction or\n\npriority of one over another. The monies in the sinking fund, less\n\nsuch reserve as may be provided in such resolution or trust\n\nagreement, if not used within a reasonable time for the purchase of\n\nbonds for cancellation as above provided, shall be applied to the\n\nredemption of bonds at the redemption price then applicable. Any\n\nperson who leases, rents, or acquires control of any gas station,\n\ngarage, store, hotel, or restaurant must have been a resident of, or\n\nbeen doing business in, Oklahoma for the past five (5) years.\n\nNotwithstanding anything else herein contained to the contrary, the\n\nCorporation Commission of the State of Oklahoma shall exercise the\n\njurisdiction now or hereafter vested in it to regulate and control\n\nthe operation of motor carriers of passengers and freight, using or\n\ndesiring to use any turnpike project, in the manner and to the\n\nextent that it regulates or controls such carriers using the\n\nhighways of the state. The Authority shall not discriminate against\nCorporation Commission of the State of Oklahoma shall exercise the\n\njurisdiction now or hereafter vested in it to regulate and control\n\nthe operation of motor carriers of passengers and freight, using or\n\ndesiring to use any turnpike project, in the manner and to the\n\nextent that it regulates or controls such carriers using the\n\nhighways of the state. The Authority shall not discriminate against\n\nany group or class or individual member thereof in fixing the amount\n\nof toll, rents, or charge for the use of the turnpike project.","path":["OK Code","Title 69"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os69.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"840917b11adea19a42061607fcb3eadd639af72f34936498800c0d51d08daf0c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-69-69-1710","next":"us-ok/okla.-stat.-tit.-69-69-1712"},"notice":"GroundRules: Original legal text. Not legal advice."}