{"data":{"id":"us-ok/okla.-stat.-tit.-82-82-868","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 82, § 82-868","heading":"Board authorized to fix and collect rates and charges -","body":"State's power to fix charges not to impair contracts.\n\nThe board shall establish and collect rates and other charges\n\nfor the sale or use of water, water connections, power, electric\n\nenergy or other services sold, furnished, or supplied by the\n\ndistrict which fees and charges shall be reasonable and\n\nnondiscriminatory and sufficient to produce revenue adequate:\n\n(a) To pay all expenses necessary to the operation and\n\nmaintenance of the properties and facilities of the district;\n\n(b) To pay the interest on and principal of all debt issued\n\nunder Section 861 et seq. of this title when and as the same shall\n\nbecome due and payable;\n\n(c) To pay all sinking fund and/or reserve fund payments agreed\n\nto be made in respect of any such debt, and payable out of such\n\nrevenues, when and as the same shall become due and payable;\n\n(d) To fulfill the terms of any agreements made with the\n\nholders of such bonds and/or with any person in their behalf; and\n\n(e) To pay any other amounts that the district is required to\n\npay by law or contract.\n\nOut of the revenues which may be received in excess of those\n\nrequired for the purposes specified in subparagraphs (a), (b), (c),\n\n(d) and (e) above, the board shall establish a reasonable\n\ndepreciation and emergency fund, and retire (by purchase and\n\ncancellation or redemption) bonds issued under Section 861 et seq.\n\nof this title, or apply the same to any corporate purpose. It is\n\nthe intention of the Grand River Dam Authority Act that the rates\n\nand charges of the district shall not be in excess of what may be\n\nnecessary to fulfill the obligations imposed upon it by the Grand\n\nRiver Dam Authority Act.\n\nNothing herein shall be construed as depriving the State of\n\nOklahoma of its power to regulate and control fees and/or charges to\n\nbe collected for the use of water, water connections, power,\n\nelectric energy, or other services, provided, that the State of\n\nOklahoma does hereby pledge to and agree with the purchasers and\n\nsuccessive holders of the bonds issued hereunder that the state will\n\nnot limit or alter the power hereby vested in the district to\n\nestablish and collect such fees and charges as will produce revenues\n\nsufficient to pay the items specified in subparagraphs (a), (b),\n\n(c), (d) and (e) of this section, or in any way to impair the rights\n\nor remedies of the holders of the bonds, or of any person in their\n\nbehalf, until the bonds, together with the interest thereon, with\n\ninterest 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 district\n\nin connection with such bonds are fully met and discharged.","path":["OK Code","Title 82"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os82.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"6b608a8ad4070c220e5a2b49aa409741a6277f748b70e0e6d4f08e5e1f05f811","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-82-82-867","next":"us-ok/okla.-stat.-tit.-82-82-869"},"notice":"GroundRules: Original legal text. Not legal advice."}