Oklahoma SB963 establishes a debt ceiling for turnpike revenue bonds issued by the Oklahoma Turnpike Authority.
Oklahoma SB963 amends the Oklahoma Statutes to set a debt ceiling of Two Billion Seven Hundred Ten Million Dollars ($2,710,000,000.00) for turnpike revenue bonds issued by the Oklahoma Turnpike Authority. The proceeds from these bonds must be used solely for the payment of the cost of turnpike projects. The Authority has the flexibility to determine the form, maturity, and redemption terms of the bonds. The act also updates statutory language and references and will become effective November 1, 2025.
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