{"data":{"id":"us-ok/okla.-stat.-tit.-69-69-1717","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 69, § 69-1717","heading":"Project to become part of state highway system -","body":"Continuation of tolls until bonds are paid.\n\nWhen all bonds issued under the provisions of this article and\n\nthe interest thereon shall have been paid or a sufficient amount for\n\nthe payment of all such bonds and the interest thereon to the\n\nmaturity thereof shall have been set aside in trust for the benefit\n\nof the bondholders, such projects, if then in good condition and\n\nrepair to the satisfaction of the Commission, shall become part of\n\nthe state highway system and shall thereafter be maintained by the\n\nCommission free of tolls. Provided, that when all bonds for any\n\nturnpike project and the interest thereon shall have been paid or\n\nsuch provision for payment made, prior to payment of the bonds and\n\ninterest on any other project or projects, such project shall\n\ncontinue to be operated as a toll facility at toll rates not less\n\nthan the lowest rate being charged on any project, until all bonds\n\nissued by the Authority and the interest thereon shall have been\n\npaid or such provisions for payment made. The revenues of such\n\npaid-out projects shall be used and applied by the Authority in\n\npaying the obligations or depositing in the sinking fund of such\n\nother turnpike projects in the following order: (a) To any project\n\nor projects in default on interest: (b) to any project or projects\n\nin default on principal; (c) to any project or projects having\n\ninsufficient reserves or sinking fund under its trust agreement. If\n\nall such other projects have sufficient reserves then the revenues\n\nfrom such paid-out project shall be prorated between such other\n\nprojects on the basis of the outstanding bonds of each project. If\n\ntwo or more projects fall within any of the above categories, then\n\nthe revenues shall be prorated between them on the basis of the\n\noutstanding bonds of each 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":"0079a389f3d63659897d12535f7823c05c3d424af53dab28a0d3c8f793b8f8ef","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-69-69-1716","next":"us-ok/okla.-stat.-tit.-69-69-1717.1"},"notice":"GroundRules: Original legal text. Not legal advice."}