Oklahoma HB2093 amends turnpike revenue bonds to set a debt ceiling of $3.15 billion.
Oklahoma HB2093 amends the Oklahoma Turnpike Authority's ability to issue turnpike revenue bonds, setting a debt ceiling of $3.15 billion. The bonds can mature up to 40 years from their issuance date and may be redeemed before maturity. The Authority determines the form of the bonds, including interest coupons, and can remarket them before payment. The Authority can also enter into transactions using derivative products to hedge interest rate risk. The act updates statutory language and becomes effective November 1, 2025.
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