39 | 36 | | |
---|
40 | 37 | | |
---|
41 | 38 | | |
---|
42 | 39 | | |
---|
43 | 40 | | An Act relating to cities and towns; amending 11 O.S. |
---|
44 | 41 | | 2021, Section 24-104, which relates to members of the |
---|
45 | 42 | | Oklahoma Municipal Power Authority election |
---|
46 | 43 | | committee; clarifying language of applicability in |
---|
47 | 44 | | regards to filing date; amending 11 O.S. 2021, |
---|
48 | 45 | | Section 24-105, which relates to defini tions; |
---|
49 | 46 | | modifying terms; amending 11 O.S. 2021, Section 24- |
---|
50 | 47 | | 107, which relates to the powers, rights, and |
---|
51 | 48 | | privileges of the Authority; changing office |
---|
52 | 49 | | responsible for approving actions taken b y the |
---|
53 | 50 | | Authority; modifying when the Authority may not sell |
---|
54 | 51 | | output; modifying applicability ; amending 11 O.S. |
---|
55 | 52 | | 2021, Section 24-116, which relates to meetings and |
---|
56 | 53 | | records of the Authority; changing citation to |
---|
57 | 54 | | applicable statute; amending 11 O.S. 20 21, Section |
---|
58 | 55 | | 24-117, which relates to construction of act; |
---|
59 | 56 | | modifying limitation on the Authority ; repealing 11 |
---|
60 | 57 | | O.S. 2021, Section 24-105.1, which relates to joint |
---|
61 | 58 | | interest in electric generation project; repealing 11 |
---|
62 | 59 | | O.S. 2021, Section 24 -114, which relates to |
---|
63 | 60 | | acquisition and construction contracts; repealing 11 |
---|
64 | 61 | | O.S. 2021, Section 24-120, which relates to personnel |
---|
65 | 62 | | included in unclassified service ; and providing an |
---|
66 | 63 | | effective date. |
---|
67 | 64 | | |
---|
68 | 65 | | |
---|
69 | 66 | | |
---|
70 | 67 | | |
---|
71 | 68 | | BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLA HOMA: |
---|
72 | 69 | | SECTION 1. AMENDATORY 11 O.S. 2021, Section 24-104, is |
---|
73 | 70 | | amended to read as follow s: |
---|
74 | 71 | | |
---|
77 | 73 | | 2 |
---|
78 | 74 | | 3 |
---|
79 | 75 | | 4 |
---|
80 | 76 | | 5 |
---|
81 | 77 | | 6 |
---|
82 | 78 | | 7 |
---|
83 | 79 | | 8 |
---|
84 | 80 | | 9 |
---|
85 | 81 | | 10 |
---|
86 | 82 | | 11 |
---|
87 | 83 | | 12 |
---|
88 | 84 | | 13 |
---|
89 | 85 | | 14 |
---|
90 | 86 | | 15 |
---|
91 | 87 | | 16 |
---|
92 | 88 | | 17 |
---|
93 | 89 | | 18 |
---|
94 | 90 | | 19 |
---|
95 | 91 | | 20 |
---|
96 | 92 | | 21 |
---|
97 | 93 | | 22 |
---|
98 | 94 | | 23 |
---|
99 | 95 | | 24 |
---|
100 | 96 | | |
---|
101 | 97 | | Section 24-104. (a) (i) Election Committee. The Authority |
---|
102 | 98 | | shall be governed by a Board of Directors c onsisting of seven |
---|
103 | 99 | | members or such greater number, b ut in no event more than eleven |
---|
104 | 100 | | members, as provided in the bylaws of the Authority as in effect |
---|
105 | 101 | | from time to time. Members of the Board of Directors of the |
---|
106 | 102 | | Authority shall be eligible to succeed themsel ves and shall be |
---|
107 | 103 | | elected by the election committee a s hereinafter provided in this |
---|
108 | 104 | | section. On or before the 90th day following the eff ective date of |
---|
109 | 105 | | this act, each of those eligible public agencies which shall have, |
---|
110 | 106 | | prior to such 90th day, by proper reso lution of its governing body |
---|
111 | 107 | | or its public trust, de clared its intention to participate, or to |
---|
112 | 108 | | have any public trust operating its elect ric system participate, |
---|
113 | 109 | | with the Authority in the development of power supply resources, |
---|
114 | 110 | | shall designate one person as i ts representative on the election |
---|
115 | 111 | | committee. All such resolutions of declaration of intention to |
---|
116 | 112 | | participate with the Authority shall b e filed with the Secretary of |
---|
117 | 113 | | State and shall be presented to the election committee at its first |
---|
118 | 114 | | meeting which shall be held in the office of the Municipal Electric |
---|
119 | 115 | | Systems of Oklahoma at 11:00 a.m. on the first Tuesday following |
---|
120 | 116 | | such 90th day. At such meeting the election committee s hall |
---|
121 | 117 | | organize and elect a chairman and such other officers as may be |
---|
122 | 118 | | desirable in the dete rmination of the election committee. The |
---|
123 | 119 | | election committee shall then determine the sufficiency of the |
---|
124 | 120 | | resolutions presented to it. |
---|
125 | 121 | | |
---|
128 | 123 | | 2 |
---|
129 | 124 | | 3 |
---|
130 | 125 | | 4 |
---|
131 | 126 | | 5 |
---|
132 | 127 | | 6 |
---|
133 | 128 | | 7 |
---|
134 | 129 | | 8 |
---|
135 | 130 | | 9 |
---|
136 | 131 | | 10 |
---|
137 | 132 | | 11 |
---|
138 | 133 | | 12 |
---|
139 | 134 | | 13 |
---|
140 | 135 | | 14 |
---|
141 | 136 | | 15 |
---|
142 | 137 | | 16 |
---|
143 | 138 | | 17 |
---|
144 | 139 | | 18 |
---|
145 | 140 | | 19 |
---|
146 | 141 | | 20 |
---|
147 | 142 | | 21 |
---|
148 | 143 | | 22 |
---|
149 | 144 | | 23 |
---|
150 | 145 | | 24 |
---|
151 | 146 | | |
---|
152 | 147 | | (ii) Election Committee Voting. For purposes of voting upon |
---|
153 | 148 | | any matter which may properly come before the election commi ttee, |
---|
154 | 149 | | each representative shall have one vote unless otherwise provided in |
---|
155 | 150 | | the bylaws of the Authority as in effect from time to time. The |
---|
156 | 151 | | presence at any meeting of the election committee of representatives |
---|
157 | 152 | | entitled to cast a majority of the total votes to which the election |
---|
158 | 153 | | committee shall be entitled sh all, unless otherwise provided in the |
---|
159 | 154 | | bylaws of the Authority as in effect from time to time, constitute a |
---|
160 | 155 | | quorum of the election committee. |
---|
161 | 156 | | (iii) Bylaws of the Authority. |
---|
162 | 157 | | (A) The bylaws of the Authorit y shall be adopted by the |
---|
163 | 158 | | election committee of the Authority by a majority vote |
---|
164 | 159 | | of the election committee and may thereafter be |
---|
165 | 160 | | amended at any time and from time to t ime in whole or |
---|
166 | 161 | | in part by the election committee or by the Board of |
---|
167 | 162 | | Directors by a major ity of the total votes entitled to |
---|
168 | 163 | | be cast at any properly called and constituted meeting |
---|
169 | 164 | | thereof, provided, however, that any such amend ment |
---|
170 | 165 | | shall not violate the pro visions of Section 19 hereof |
---|
171 | 166 | | 24-119 of this title. |
---|
172 | 167 | | (B) The bylaws of the Authority shall provide the |
---|
173 | 168 | | following: |
---|
174 | 169 | | (1) the time, place, manner of calling, notice, |
---|
175 | 170 | | quorum and voting provisions, and other |
---|
176 | 171 | | |
---|
179 | 173 | | 2 |
---|
180 | 174 | | 3 |
---|
181 | 175 | | 4 |
---|
182 | 176 | | 5 |
---|
183 | 177 | | 6 |
---|
184 | 178 | | 7 |
---|
185 | 179 | | 8 |
---|
186 | 180 | | 9 |
---|
187 | 181 | | 10 |
---|
188 | 182 | | 11 |
---|
189 | 183 | | 12 |
---|
190 | 184 | | 13 |
---|
191 | 185 | | 14 |
---|
192 | 186 | | 15 |
---|
193 | 187 | | 16 |
---|
194 | 188 | | 17 |
---|
195 | 189 | | 18 |
---|
196 | 190 | | 19 |
---|
197 | 191 | | 20 |
---|
198 | 192 | | 21 |
---|
199 | 193 | | 22 |
---|
200 | 194 | | 23 |
---|
201 | 195 | | 24 |
---|
202 | 196 | | |
---|
203 | 197 | | procedural rules for regular and special meeti ngs |
---|
204 | 198 | | of the election committee of the Authority; |
---|
205 | 199 | | (2) the time, place, manner of calling, notice, |
---|
206 | 200 | | quorum and voting provisions, and other |
---|
207 | 201 | | procedural rules for regular and special meetings |
---|
208 | 202 | | of the Board of Directors of the Authority; |
---|
209 | 203 | | (3) provisions for the n umber, election, term of |
---|
210 | 204 | | office and removal of members of the Board of |
---|
211 | 205 | | Directors and for filling vacancies on the Board |
---|
212 | 206 | | of Directors; |
---|
213 | 207 | | (4) the titles, duties and manner of election, |
---|
214 | 208 | | removal and replacement of officers of the |
---|
215 | 209 | | Authority; |
---|
216 | 210 | | (5) provisions governing when the Authority may |
---|
217 | 211 | | dissolve and the disposition of property of the |
---|
218 | 212 | | Authority and the pr ocedures to be followed in |
---|
219 | 213 | | the event of such a disso lution, provided, |
---|
220 | 214 | | however, that any such dissolution shall not |
---|
221 | 215 | | violate the provisions of Section 19 hereof 24- |
---|
222 | 216 | | 119 of this title; and |
---|
223 | 217 | | (6) such other rules for regulating the affairs of |
---|
224 | 218 | | the Authority as the election committee or the |
---|
225 | 219 | | Board of Directors may d eem necessary or |
---|
226 | 220 | | advisable. |
---|
227 | 221 | | |
---|
230 | 223 | | 2 |
---|
231 | 224 | | 3 |
---|
232 | 225 | | 4 |
---|
233 | 226 | | 5 |
---|
234 | 227 | | 6 |
---|
235 | 228 | | 7 |
---|
236 | 229 | | 8 |
---|
237 | 230 | | 9 |
---|
238 | 231 | | 10 |
---|
239 | 232 | | 11 |
---|
240 | 233 | | 12 |
---|
241 | 234 | | 13 |
---|
242 | 235 | | 14 |
---|
243 | 236 | | 15 |
---|
244 | 237 | | 16 |
---|
245 | 238 | | 17 |
---|
246 | 239 | | 18 |
---|
247 | 240 | | 19 |
---|
248 | 241 | | 20 |
---|
249 | 242 | | 21 |
---|
250 | 243 | | 22 |
---|
251 | 244 | | 23 |
---|
252 | 245 | | 24 |
---|
253 | 246 | | |
---|
254 | 247 | | (iv) Board of Directors. The initial members of the Board of |
---|
255 | 248 | | Directors of the Authority shall be elected by the election |
---|
256 | 249 | | committee of the Authority. Members of the Board of Directors of |
---|
257 | 250 | | the Authority shall be residents of the State of Oklahoma. Members |
---|
258 | 251 | | of the Board of Directors of the Authority may, but need not, be |
---|
259 | 252 | | members of the election commi ttee. Each member of the Board of |
---|
260 | 253 | | Directors of the Authority shall hold office u ntil the adjournment |
---|
261 | 254 | | of the annual meeting of the Bo ard of Directors held at, or nearest |
---|
262 | 255 | | to, the expiration of his the Director's term of office as provided |
---|
263 | 256 | | in the bylaws of the Authority and until his a successor is elected. |
---|
264 | 257 | | (b) Additional Members of Ele ction Committee. Each eligible |
---|
265 | 258 | | public agency declaring its intention, by proper resolution of its |
---|
266 | 259 | | governing body, to participate, or to have any public trust |
---|
267 | 260 | | operating its electric system participate, with the Authority in the |
---|
268 | 261 | | development of power supply resources after the 90th day following |
---|
269 | 262 | | the effective date of this act shall promptly file such resolution |
---|
270 | 263 | | with the Secretary of State and give written notice to the Authority |
---|
271 | 264 | | of the adoption of such resolution and shall then designate one |
---|
272 | 265 | | person as an additional member of the election committee who se term |
---|
273 | 266 | | shall begin with the first meeting of the election committee which |
---|
274 | 267 | | is held following the expiration of ten (10) days from th e date of |
---|
275 | 268 | | receipt of notice of the adoption of such resolution by the |
---|
276 | 269 | | Authority. Members of the election committee shall se rve at the |
---|
277 | 270 | | |
---|
280 | 272 | | 2 |
---|
281 | 273 | | 3 |
---|
282 | 274 | | 4 |
---|
283 | 275 | | 5 |
---|
284 | 276 | | 6 |
---|
285 | 277 | | 7 |
---|
286 | 278 | | 8 |
---|
287 | 279 | | 9 |
---|
288 | 280 | | 10 |
---|
289 | 281 | | 11 |
---|
290 | 282 | | 12 |
---|
291 | 283 | | 13 |
---|
292 | 284 | | 14 |
---|
293 | 285 | | 15 |
---|
294 | 286 | | 16 |
---|
295 | 287 | | 17 |
---|
296 | 288 | | 18 |
---|
297 | 289 | | 19 |
---|
298 | 290 | | 20 |
---|
299 | 291 | | 21 |
---|
300 | 292 | | 22 |
---|
301 | 293 | | 23 |
---|
302 | 294 | | 24 |
---|
303 | 295 | | |
---|
304 | 296 | | pleasure of the governing body of the eligible public agency by |
---|
305 | 297 | | which they were appointed. |
---|
306 | 298 | | SECTION 2. AMENDATORY 11 O.S. 2021, Section 24-105, is |
---|
307 | 299 | | amended to read as follows : |
---|
308 | 300 | | Section 24-105. As used in this act the f ollowing words shall |
---|
309 | 301 | | have the following meanings unless the context clearly indicates |
---|
310 | 302 | | otherwise: |
---|
311 | 303 | | (a) "Authority" shall mean the Oklahoma Municipal Power |
---|
312 | 304 | | Authority hereby created and any successor or successors thereto. |
---|
313 | 305 | | Any change in name or composition of the Authority shall i n no way |
---|
314 | 306 | | affect the vested rights of any person under the provisions of this |
---|
315 | 307 | | act or impair the obligations of any contracts existing under this |
---|
316 | 308 | | act. |
---|
317 | 309 | | (b) "Board of Directors" shall mean the Board of Director s |
---|
318 | 310 | | elected by the election c ommittee as set forth in Section 4 24-104 |
---|
319 | 311 | | of this act title which shall exercise all the powers and manage and |
---|
320 | 312 | | control all the affairs and property of the Authority unless |
---|
321 | 313 | | otherwise specifically provided herein or in the bylaws of the |
---|
322 | 314 | | Authority as in effec t from time to time. |
---|
323 | 315 | | (c) "Bonds" shall mean any revenue bonds, notes or other |
---|
324 | 316 | | evidences of obligations of the Authority issued by the Authority |
---|
325 | 317 | | under the provisions of this act, including, without limitation, |
---|
326 | 318 | | bond anticipation notes and refunding bonds. |
---|
327 | 319 | | |
---|
330 | 321 | | 2 |
---|
331 | 322 | | 3 |
---|
332 | 323 | | 4 |
---|
333 | 324 | | 5 |
---|
334 | 325 | | 6 |
---|
335 | 326 | | 7 |
---|
336 | 327 | | 8 |
---|
337 | 328 | | 9 |
---|
338 | 329 | | 10 |
---|
339 | 330 | | 11 |
---|
340 | 331 | | 12 |
---|
341 | 332 | | 13 |
---|
342 | 333 | | 14 |
---|
343 | 334 | | 15 |
---|
344 | 335 | | 16 |
---|
345 | 336 | | 17 |
---|
346 | 337 | | 18 |
---|
347 | 338 | | 19 |
---|
348 | 339 | | 20 |
---|
349 | 340 | | 21 |
---|
350 | 341 | | 22 |
---|
351 | 342 | | 23 |
---|
352 | 343 | | 24 |
---|
353 | 344 | | |
---|
354 | 345 | | (d) "Eligible public agency" shall mean any municipality, |
---|
355 | 346 | | authority or other public body which owns, maintains or operates an |
---|
356 | 347 | | electrical energy generation , transmission or distribution system |
---|
357 | 348 | | within the State of Oklahoma on the date on which this act becom es |
---|
358 | 349 | | law. |
---|
359 | 350 | | (e) "Person" shall mean (i) any natural person; (ii) any |
---|
360 | 351 | | eligible public agency as defined herein; (iii) any public trust as |
---|
361 | 352 | | defined herein; (iv) the United States, any state, any municipality, |
---|
362 | 353 | | political subdivision, municipal corporation, unit of local |
---|
363 | 354 | | government, governmental unit or public corporation created by or |
---|
364 | 355 | | pursuant to the laws of the United States or any state, or any |
---|
365 | 356 | | board, corporation or other entity or body declared by the laws of |
---|
366 | 357 | | the United States or any state to be a department, ag ency or |
---|
367 | 358 | | instrumentality thereof; (v) any corporation, not for profit |
---|
368 | 359 | | corporation, firm, partnership, cooperative association, electric |
---|
369 | 360 | | cooperative or business trust of any nature whatsoever organized and |
---|
370 | 361 | | existing under the laws of the United States or any state; or (vi) |
---|
371 | 362 | | any foreign country, any political subdivision or governmental unit |
---|
372 | 363 | | of any foreign country or any corporation, not for profit |
---|
373 | 364 | | corporation, firm, partnership, cooperative association, electric |
---|
374 | 365 | | cooperative or business trust of any nature whats oever organized and |
---|
375 | 366 | | existing under the laws of any foreign country or of any political |
---|
376 | 367 | | subdivision or governmental entity thereof. |
---|
377 | 368 | | |
---|
380 | 370 | | 2 |
---|
381 | 371 | | 3 |
---|
382 | 372 | | 4 |
---|
383 | 373 | | 5 |
---|
384 | 374 | | 6 |
---|
385 | 375 | | 7 |
---|
386 | 376 | | 8 |
---|
387 | 377 | | 9 |
---|
388 | 378 | | 10 |
---|
389 | 379 | | 11 |
---|
390 | 380 | | 12 |
---|
391 | 381 | | 13 |
---|
392 | 382 | | 14 |
---|
393 | 383 | | 15 |
---|
394 | 384 | | 16 |
---|
395 | 385 | | 17 |
---|
396 | 386 | | 18 |
---|
397 | 387 | | 19 |
---|
398 | 388 | | 20 |
---|
399 | 389 | | 21 |
---|
400 | 390 | | 22 |
---|
401 | 391 | | 23 |
---|
402 | 392 | | 24 |
---|
403 | 393 | | |
---|
404 | 394 | | (f) "Project" shall mean any plant, works, system, facilities |
---|
405 | 395 | | and real and personal property of any nature whatsoever, toget her |
---|
406 | 396 | | with all parts thereof and appurtenances thereto, located within or |
---|
407 | 397 | | without the State of Oklahoma, used or useful in the generation, |
---|
408 | 398 | | production, transmission, purchase, sale, exchange or interchange of |
---|
409 | 399 | | electrical energy and in the acquisition, extracti on, processing, |
---|
410 | 400 | | transportation or storage or of fuel of any kind for any such |
---|
411 | 401 | | purposes or any interest in, or right to the use, services, output |
---|
412 | 402 | | or capacity, of any such plant, works, system or facilities; |
---|
413 | 403 | | provided, however, a project shall not include (i) any interest in |
---|
414 | 404 | | any plant for the generation of electrical energy which is to be |
---|
415 | 405 | | owned jointly with any investor -owned utility if such plant is not |
---|
416 | 406 | | existing on May 10, 1981, or (ii) any interest in any nuclear |
---|
417 | 407 | | powered generating plant. For purposes of th is definition, a plant |
---|
418 | 408 | | shall be considered to be existing if construction shall have been |
---|
419 | 409 | | commenced at the plant site, if orders have been placed for majo r |
---|
420 | 410 | | components of equipment or if the plant is to consist of an |
---|
421 | 411 | | additional unit at the site of an alread y existing unit which will |
---|
422 | 412 | | use in common any of the existing facilities at such site . |
---|
423 | 413 | | (g) "Public trust" shall mean any public trust created and |
---|
424 | 414 | | existing under the provisions of the Trusts for Furtherance of |
---|
425 | 415 | | Public Functions Law, as provided by Sections 1 76 et seq. of Title |
---|
426 | 416 | | 60 of the Oklahoma Statutes, and the Oklahoma Trust Act, as provided |
---|
427 | 417 | | by Sections 175 et seq. of Title 60 of the Oklahoma Statutes, whi ch |
---|
428 | 418 | | |
---|
431 | 420 | | 2 |
---|
432 | 421 | | 3 |
---|
433 | 422 | | 4 |
---|
434 | 423 | | 5 |
---|
435 | 424 | | 6 |
---|
436 | 425 | | 7 |
---|
437 | 426 | | 8 |
---|
438 | 427 | | 9 |
---|
439 | 428 | | 10 |
---|
440 | 429 | | 11 |
---|
441 | 430 | | 12 |
---|
442 | 431 | | 13 |
---|
443 | 432 | | 14 |
---|
444 | 433 | | 15 |
---|
445 | 434 | | 16 |
---|
446 | 435 | | 17 |
---|
447 | 436 | | 18 |
---|
448 | 437 | | 19 |
---|
449 | 438 | | 20 |
---|
450 | 439 | | 21 |
---|
451 | 440 | | 22 |
---|
452 | 441 | | 23 |
---|
453 | 442 | | 24 |
---|
454 | 443 | | |
---|
455 | 444 | | has as its beneficiary a municipality and which owns, maintains or |
---|
456 | 445 | | operates an electrical energy ge neration, transmission or |
---|
457 | 446 | | distribution system serving the residents and consumers of such |
---|
458 | 447 | | municipality and existing on the date on which this act becomes law |
---|
459 | 448 | | or created hereafter with an eligible public agency as the |
---|
460 | 449 | | beneficiary. |
---|
461 | 450 | | SECTION 3. AMENDATORY 11 O.S. 2021, Section 24-107, is |
---|
462 | 451 | | amended to read as follows : |
---|
463 | 452 | | Section 24-107. (a) The Authority shall have and is her eby |
---|
464 | 453 | | authorized to exercise all po wers, rights and privileges enumerated |
---|
465 | 454 | | in this section. Such powers, rights and privileges shall be |
---|
466 | 455 | | exercised by its Board of Directors unless otherwise specifically |
---|
467 | 456 | | provided herein or by the bylaws of the Authority as in effect from |
---|
468 | 457 | | time to time. |
---|
469 | 458 | | (b) The Authority may plan, finance, acquire, construct, |
---|
470 | 459 | | reconstruct, own, lease, opera te, maintain, repair, improve, extend |
---|
471 | 460 | | or otherwise participate, individually or jointly with other |
---|
472 | 461 | | persons, in one or more projects, proposed, existing or under |
---|
473 | 462 | | construction, and may act as agent, or designate one or more |
---|
474 | 463 | | persons, whether or not participat ing in a project, to act as its |
---|
475 | 464 | | agent, in connection with the planning, financing, acquisition, |
---|
476 | 465 | | construction, reconstruction, ownership, lease , operation, |
---|
477 | 466 | | maintenance, repair, extension or improvement of the project. |
---|
478 | 467 | | |
---|
481 | 469 | | 2 |
---|
482 | 470 | | 3 |
---|
483 | 471 | | 4 |
---|
484 | 472 | | 5 |
---|
485 | 473 | | 6 |
---|
486 | 474 | | 7 |
---|
487 | 475 | | 8 |
---|
488 | 476 | | 9 |
---|
489 | 477 | | 10 |
---|
490 | 478 | | 11 |
---|
491 | 479 | | 12 |
---|
492 | 480 | | 13 |
---|
493 | 481 | | 14 |
---|
494 | 482 | | 15 |
---|
495 | 483 | | 16 |
---|
496 | 484 | | 17 |
---|
497 | 485 | | 18 |
---|
498 | 486 | | 19 |
---|
499 | 487 | | 20 |
---|
500 | 488 | | 21 |
---|
501 | 489 | | 22 |
---|
502 | 490 | | 23 |
---|
503 | 491 | | 24 |
---|
504 | 492 | | |
---|
505 | 493 | | (c) The Authority may investigate the desirability of and |
---|
506 | 494 | | necessity for additional sources and supplies of electrical energy |
---|
507 | 495 | | and fuel and other supplies of any kind for such purpos e, and make |
---|
508 | 496 | | studies, surveys and estimates as may be necessary to determine the |
---|
509 | 497 | | feasibility and cost thereof. |
---|
510 | 498 | | (d) The Authority may co operate with other persons in the |
---|
511 | 499 | | development of sources and supplies of electrical energy and fuel |
---|
512 | 500 | | and other supplies of any kind for such purposes, and give |
---|
513 | 501 | | assistance with personnel and equipment in any project. |
---|
514 | 502 | | (e) The Authority m ay apply to any perso n for consents, |
---|
515 | 503 | | authorizations or approvals required for any project within its |
---|
516 | 504 | | powers and take all actions necessary to comply with the conditions |
---|
517 | 505 | | thereof. |
---|
518 | 506 | | (f) The Authority may perform any act authorized by this act |
---|
519 | 507 | | through, or by means of, its officers , agents or employees or by |
---|
520 | 508 | | contract with any person, including, without limitation, the |
---|
521 | 509 | | employment of engineers, archite cts, attorneys, appraisers, |
---|
522 | 510 | | financial advisors and such other consultants and employees as may |
---|
523 | 511 | | be required in the judgment of the Board of Directors, and fix and |
---|
524 | 512 | | pay their compensation from funds available to the Authority |
---|
525 | 513 | | therefor. |
---|
526 | 514 | | (g) The Authority may acquire, hold, use and dispose of income, |
---|
527 | 515 | | revenues, funds and money. |
---|
528 | 516 | | |
---|
531 | 518 | | 2 |
---|
532 | 519 | | 3 |
---|
533 | 520 | | 4 |
---|
534 | 521 | | 5 |
---|
535 | 522 | | 6 |
---|
536 | 523 | | 7 |
---|
537 | 524 | | 8 |
---|
538 | 525 | | 9 |
---|
539 | 526 | | 10 |
---|
540 | 527 | | 11 |
---|
541 | 528 | | 12 |
---|
542 | 529 | | 13 |
---|
543 | 530 | | 14 |
---|
544 | 531 | | 15 |
---|
545 | 532 | | 16 |
---|
546 | 533 | | 17 |
---|
547 | 534 | | 18 |
---|
548 | 535 | | 19 |
---|
549 | 536 | | 20 |
---|
550 | 537 | | 21 |
---|
551 | 538 | | 22 |
---|
552 | 539 | | 23 |
---|
553 | 540 | | 24 |
---|
554 | 541 | | |
---|
555 | 542 | | (h) The Authority may, individually or joint ly with other |
---|
556 | 543 | | persons, acquire, own, hire, use, operate and dispose of personal |
---|
557 | 544 | | property and any interest therein. |
---|
558 | 545 | | (i) The Authority may, ind ividually or jointly with other |
---|
559 | 546 | | persons, acquire, own, use, lease as lessor or lessee, operate and |
---|
560 | 547 | | dispose of real property and interes ts in real property, including |
---|
561 | 548 | | projects existing, proposed or under construction, and make |
---|
562 | 549 | | improvements thereon. |
---|
563 | 550 | | (j) The Authority may grant the use by f ranchise, lease or |
---|
564 | 551 | | otherwise and make charges for the use of any property or faci lity |
---|
565 | 552 | | owned or controlled by it. |
---|
566 | 553 | | (k) The Authority may borrow money and issue negotiable bonds, |
---|
567 | 554 | | secured or unsecured, in accordance with this act, and may enter |
---|
568 | 555 | | into interest rate swaps and other derivative products, and other |
---|
569 | 556 | | financial instruments intende d to hedge interest r ate risk or manage |
---|
570 | 557 | | interest rate costs, including any option to enter into or terminate |
---|
571 | 558 | | any of them, that the Authority d eems to be necessary or desirable |
---|
572 | 559 | | in connection with any bonds issued prior to, at the same time as, |
---|
573 | 560 | | or after entering into such arrang ement, and containing such terms |
---|
574 | 561 | | and provisions, and may be with such parties, as determined by the |
---|
575 | 562 | | Authority. Provided, any action taken by the Authorit y pursuant to |
---|
576 | 563 | | this subsection must first be approved by the Office of the State |
---|
577 | 564 | | Bond Advisor Deputy Treasurer for Debt Management and the Council of |
---|
578 | 565 | | |
---|
581 | 567 | | 2 |
---|
582 | 568 | | 3 |
---|
583 | 569 | | 4 |
---|
584 | 570 | | 5 |
---|
585 | 571 | | 6 |
---|
586 | 572 | | 7 |
---|
587 | 573 | | 8 |
---|
588 | 574 | | 9 |
---|
589 | 575 | | 10 |
---|
590 | 576 | | 11 |
---|
591 | 577 | | 12 |
---|
592 | 578 | | 13 |
---|
593 | 579 | | 14 |
---|
594 | 580 | | 15 |
---|
595 | 581 | | 16 |
---|
596 | 582 | | 17 |
---|
597 | 583 | | 18 |
---|
598 | 584 | | 19 |
---|
599 | 585 | | 20 |
---|
600 | 586 | | 21 |
---|
601 | 587 | | 22 |
---|
602 | 588 | | 23 |
---|
603 | 589 | | 24 |
---|
604 | 590 | | |
---|
605 | 591 | | Bond Oversight pursuant to the provisions of the Oklahoma Bond |
---|
606 | 592 | | Oversight and Reform Act. |
---|
607 | 593 | | (l) The Authority may invest money of the Authority not |
---|
608 | 594 | | required for immediate use, including proc eeds from the sale of any |
---|
609 | 595 | | bonds. |
---|
610 | 596 | | (m) The Authority may exercise the power of eminent domain in |
---|
611 | 597 | | accordance with the provisions of Section 24-110 of this title. |
---|
612 | 598 | | (n) The Authority may determine the location and character of, |
---|
613 | 599 | | and all other matters in connect ion with, any and all projects it is |
---|
614 | 600 | | authorized to acquire, hold, establish, effectuate, operate or |
---|
615 | 601 | | control. |
---|
616 | 602 | | (o) The Authority may contract w ith any person for the |
---|
617 | 603 | | planning, development, construction, operation, sale or lease as |
---|
618 | 604 | | lessor or lessee of any pr oject or for any inte rest therein, on such |
---|
619 | 605 | | terms and for such period of time as its Board of Directors shall |
---|
620 | 606 | | determine. |
---|
621 | 607 | | (p) The Authority may contract with any eligible publi c agency, |
---|
622 | 608 | | any public trust, or any other person for the sale of power and |
---|
623 | 609 | | energy, transmission service s, power supply development services or |
---|
624 | 610 | | other services within or without the State of Oklahoma on such terms |
---|
625 | 611 | | and conditions as the Board of Directors shal l approve. Any such |
---|
626 | 612 | | contract may be for the sale of output and services of a par ticular |
---|
627 | 613 | | project or may be for output and services generally without regard |
---|
628 | 614 | | to a specific project and may be for the supply of a specific |
---|
629 | 615 | | |
---|
632 | 617 | | 2 |
---|
633 | 618 | | 3 |
---|
634 | 619 | | 4 |
---|
635 | 620 | | 5 |
---|
636 | 621 | | 6 |
---|
637 | 622 | | 7 |
---|
638 | 623 | | 8 |
---|
639 | 624 | | 9 |
---|
640 | 625 | | 10 |
---|
641 | 626 | | 11 |
---|
642 | 627 | | 12 |
---|
643 | 628 | | 13 |
---|
644 | 629 | | 14 |
---|
645 | 630 | | 15 |
---|
646 | 631 | | 16 |
---|
647 | 632 | | 17 |
---|
648 | 633 | | 18 |
---|
649 | 634 | | 19 |
---|
650 | 635 | | 20 |
---|
651 | 636 | | 21 |
---|
652 | 637 | | 22 |
---|
653 | 638 | | 23 |
---|
654 | 639 | | 24 |
---|
655 | 640 | | |
---|
656 | 641 | | quantity of output or a percentage of the output of a specific |
---|
657 | 642 | | project or other specific facility or may be based on th e |
---|
658 | 643 | | requirements of the purchaser or may be on such other terms and |
---|
659 | 644 | | conditions as the Board of Directors deems appropriate. |
---|
660 | 645 | | (q) The Authority m ay enter into any contract or agr eement |
---|
661 | 646 | | necessary, appropriate or incidental to the effectuation of its |
---|
662 | 647 | | lawful purposes and the exercis e of the powers granted by this act, |
---|
663 | 648 | | including, without limitation, contracts or agreements for the |
---|
664 | 649 | | purchase, sale, excha nge, interchange, wheeling, pooli ng, |
---|
665 | 650 | | transmission or storage of electric power and energy, and fuel and |
---|
666 | 651 | | other supplies of any kind for any such purposes, within and without |
---|
667 | 652 | | the State of Oklahoma, in such amounts as it shall determine to be |
---|
668 | 653 | | necessary and appropriate to make the most effect ive use of its |
---|
669 | 654 | | powers and to meet its responsibilities, on such terms and for suc h |
---|
670 | 655 | | period of time as the Board of Directors determines, and derivative |
---|
671 | 656 | | or other instruments intended to hedge fuel cost risk associated |
---|
672 | 657 | | with any projects or power purchases or supply arrangements of the |
---|
673 | 658 | | Authority, or to hedge fixed or variable interest rate exposure |
---|
674 | 659 | | associated with permitted investments, including any option to enter |
---|
675 | 660 | | into or terminate any of them, that the Authority deems to be |
---|
676 | 661 | | necessary or desirable, and contai ning such terms and provisions, |
---|
677 | 662 | | and may be with such parties, as determined by th e Authority. |
---|
678 | 663 | | (r) In any case in which the Authority participates in a |
---|
679 | 664 | | project as a joint owner with one or more persons, the Authority may |
---|
680 | 665 | | |
---|
683 | 667 | | 2 |
---|
684 | 668 | | 3 |
---|
685 | 669 | | 4 |
---|
686 | 670 | | 5 |
---|
687 | 671 | | 6 |
---|
688 | 672 | | 7 |
---|
689 | 673 | | 8 |
---|
690 | 674 | | 9 |
---|
691 | 675 | | 10 |
---|
692 | 676 | | 11 |
---|
693 | 677 | | 12 |
---|
694 | 678 | | 13 |
---|
695 | 679 | | 14 |
---|
696 | 680 | | 15 |
---|
697 | 681 | | 16 |
---|
698 | 682 | | 17 |
---|
699 | 683 | | 18 |
---|
700 | 684 | | 19 |
---|
701 | 685 | | 20 |
---|
702 | 686 | | 21 |
---|
703 | 687 | | 22 |
---|
704 | 688 | | 23 |
---|
705 | 689 | | 24 |
---|
706 | 690 | | |
---|
707 | 691 | | enter into an agreement or agreemen ts with respect to such project |
---|
708 | 692 | | with the other person or persons participating th erein, and any such |
---|
709 | 693 | | agreement may contain such terms, conditions and provisions |
---|
710 | 694 | | consistent with the provisions of the act as the parties there to |
---|
711 | 695 | | shall deem to be in their best interest. Any such agreement may |
---|
712 | 696 | | include, but need not be limited to, provision s defining what |
---|
713 | 697 | | constitutes a default thereunder and providing for the rights and |
---|
714 | 698 | | remedies of the parties thereto upon the occurrence of such a |
---|
715 | 699 | | default deemed appropriate by t he Board of Directors including, to |
---|
716 | 700 | | the extent deemed appropriate, the acquisitio n by nondefaulting |
---|
717 | 701 | | parties of all or any part of the defaulting party's interest; |
---|
718 | 702 | | provisions setting forth such restraints on alienation of th e |
---|
719 | 703 | | interests of the parties in the project as the Board of Directors |
---|
720 | 704 | | deems appropriate; provisions for the construc tion, operation and |
---|
721 | 705 | | maintenance of such electric generation or transmission facility by |
---|
722 | 706 | | any one or more of the parties to such agreement which party or |
---|
723 | 707 | | parties shall be design ated in or pursuant to such agreement as |
---|
724 | 708 | | agent or parties thereto or by such othe r means as may be det ermined |
---|
725 | 709 | | by the parties thereto; and provisions for a method or methods of |
---|
726 | 710 | | determining and allocating, among or between th e parties, costs of |
---|
727 | 711 | | construction, operation, maintenance, renewals, replacements, |
---|
728 | 712 | | improvements and disposals with respect to such proje ct. In |
---|
729 | 713 | | exercising its power to participate in a project as a joint owner |
---|
730 | 714 | | with one or more persons, the Authority may not loan its credit to |
---|
731 | 715 | | |
---|
734 | 717 | | 2 |
---|
735 | 718 | | 3 |
---|
736 | 719 | | 4 |
---|
737 | 720 | | 5 |
---|
738 | 721 | | 6 |
---|
739 | 722 | | 7 |
---|
740 | 723 | | 8 |
---|
741 | 724 | | 9 |
---|
742 | 725 | | 10 |
---|
743 | 726 | | 11 |
---|
744 | 727 | | 12 |
---|
745 | 728 | | 13 |
---|
746 | 729 | | 14 |
---|
747 | 730 | | 15 |
---|
748 | 731 | | 16 |
---|
749 | 732 | | 17 |
---|
750 | 733 | | 18 |
---|
751 | 734 | | 19 |
---|
752 | 735 | | 20 |
---|
753 | 736 | | 21 |
---|
754 | 737 | | 22 |
---|
755 | 738 | | 23 |
---|
756 | 739 | | 24 |
---|
757 | 740 | | |
---|
758 | 741 | | any person which is a joint owner of such project; provided, |
---|
759 | 742 | | however, the appropriate allocati ons of the costs of c onstruction, |
---|
760 | 743 | | operation, maintenance, renewals, replacements, improvements and |
---|
761 | 744 | | disposals with respect to such project betw een the Authority and |
---|
762 | 745 | | such persons shall not be a loan of credit by the Authority to such |
---|
763 | 746 | | persons. In carrying ou t its functions and a ctivities as such agent |
---|
764 | 747 | | with respect to construction, operation and maintenance of a |
---|
765 | 748 | | project, such agent shall be governe d by the laws and regulations |
---|
766 | 749 | | applicable to such agent as a separate legal entity and not by any |
---|
767 | 750 | | laws or regulations which may be appli cable to any of the other |
---|
768 | 751 | | participating parties. Notwithstanding anything contained in any |
---|
769 | 752 | | other law to the contrary, pu rsuant to the terms of any such |
---|
770 | 753 | | agreement, the Authority may delegate its powers and duties with |
---|
771 | 754 | | respect to the construction, operation and maintenance of such |
---|
772 | 755 | | project to the person acting as agent; and all actions taken by such |
---|
773 | 756 | | agent in accordance with th e provisions of such agreement ma y be |
---|
774 | 757 | | made binding upon the Authority without further action or approval |
---|
775 | 758 | | by the Authority. |
---|
776 | 759 | | (s) The Authority may procure insurance against any losses in |
---|
777 | 760 | | connection with its property, operations or assets in such amounts |
---|
778 | 761 | | and from such insurers as it deems d esirable, or may self-insure |
---|
779 | 762 | | against such losses. |
---|
780 | 763 | | (t) The Authority may contract for and accept any g ifts, grants |
---|
781 | 764 | | or loans of funds or property or financial or other aid in any form |
---|
782 | 765 | | |
---|
785 | 767 | | 2 |
---|
786 | 768 | | 3 |
---|
787 | 769 | | 4 |
---|
788 | 770 | | 5 |
---|
789 | 771 | | 6 |
---|
790 | 772 | | 7 |
---|
791 | 773 | | 8 |
---|
792 | 774 | | 9 |
---|
793 | 775 | | 10 |
---|
794 | 776 | | 11 |
---|
795 | 777 | | 12 |
---|
796 | 778 | | 13 |
---|
797 | 779 | | 14 |
---|
798 | 780 | | 15 |
---|
799 | 781 | | 16 |
---|
800 | 782 | | 17 |
---|
801 | 783 | | 18 |
---|
802 | 784 | | 19 |
---|
803 | 785 | | 20 |
---|
804 | 786 | | 21 |
---|
805 | 787 | | 22 |
---|
806 | 788 | | 23 |
---|
807 | 789 | | 24 |
---|
808 | 790 | | |
---|
809 | 791 | | from any person, and may comply, subject to the provisions of this |
---|
810 | 792 | | act, with the terms and conditions thereof. |
---|
811 | 793 | | (u) The Authority may adopt a corporate se al and may sue or be |
---|
812 | 794 | | sued. |
---|
813 | 795 | | (v) The Authority may exercise all other powers not |
---|
814 | 796 | | inconsistent with the Constitution of the State of Oklahoma or the |
---|
815 | 797 | | United States Constitution, which powers may be reasonably necessary |
---|
816 | 798 | | or appropriate for or incidental to effe ctuate its authorized |
---|
817 | 799 | | purposes or to the exercise of any of the powers enumerated in this |
---|
818 | 800 | | act. |
---|
819 | 801 | | (w) Notwithstanding any other provision herein seemingly to the |
---|
820 | 802 | | contrary, the Authority may not sell output (i) at retail to the |
---|
821 | 803 | | ultimate consumers thereof, or (ii) to any municipality which does |
---|
822 | 804 | | not qualify as an eligible public agency under the definition set |
---|
823 | 805 | | forth in subsection (d) of Section 24-105 of this title, or (iii) to |
---|
824 | 806 | | any trust created and existing under the provisions of the Local |
---|
825 | 807 | | Industrial Development Act, as provided by S ections 651 et seq. of |
---|
826 | 808 | | Title 62 of the Oklahoma Statutes, or the Trusts for Furtherance of |
---|
827 | 809 | | Public Functions Law, as provi ded by Sections 176 et seq. of Ti tle |
---|
828 | 810 | | 60 of the Oklahoma Statutes, which does not qualify as a public |
---|
829 | 811 | | trust under the definition set for th in subsection (g) of Section |
---|
830 | 812 | | 24-105 of this title own an electrical energy distribution system . |
---|
831 | 813 | | SECTION 4. AMENDATORY 11 O.S. 2021, Section 24-116, is |
---|
832 | 814 | | amended to read as follows: |
---|
833 | 815 | | |
---|
836 | 817 | | 2 |
---|
837 | 818 | | 3 |
---|
838 | 819 | | 4 |
---|
839 | 820 | | 5 |
---|
840 | 821 | | 6 |
---|
841 | 822 | | 7 |
---|
842 | 823 | | 8 |
---|
843 | 824 | | 9 |
---|
844 | 825 | | 10 |
---|
845 | 826 | | 11 |
---|
846 | 827 | | 12 |
---|
847 | 828 | | 13 |
---|
848 | 829 | | 14 |
---|
849 | 830 | | 15 |
---|
850 | 831 | | 16 |
---|
851 | 832 | | 17 |
---|
852 | 833 | | 18 |
---|
853 | 834 | | 19 |
---|
854 | 835 | | 20 |
---|
855 | 836 | | 21 |
---|
856 | 837 | | 22 |
---|
857 | 838 | | 23 |
---|
858 | 839 | | 24 |
---|
859 | 840 | | |
---|
860 | 841 | | Section 24-116. All meetings of the Authority shall be subject |
---|
861 | 842 | | to the provisions of the Ok lahoma Open Meeting Act, as provided by |
---|
862 | 843 | | Sections 301 et seq. of Title 25 of the Oklahoma Statutes. All |
---|
863 | 844 | | records of the Authority shall be subject to the provisions of |
---|
864 | 845 | | Section 24 the Oklahoma Open Records Act, as provided by Section |
---|
865 | 846 | | 24A.1 et seq. of Title 51 of the Oklahoma Statutes. |
---|
866 | 847 | | SECTION 5. AMENDATORY 11 O.S. 2021, Section 24-117, is |
---|
867 | 848 | | amended to read as foll ows: |
---|
868 | 849 | | Section 24-117. This act and all the terms and provisions |
---|
869 | 850 | | hereof shall be liberally construed to effectuate the p urposes set |
---|
870 | 851 | | forth herein; provided, however, nothing in this act shall be |
---|
871 | 852 | | construed to authorize the Authority to loa n its credit to any |
---|
872 | 853 | | investor-owned utility nor to acquire or subsidize any nuclear |
---|
873 | 854 | | powered generating plant. |
---|
874 | 855 | | SECTION 6. REPEALER 11 O.S. 2021, Section 24-105.1, is |
---|
875 | 856 | | hereby repealed. |
---|
876 | 857 | | SECTION 7. REPEALER 11 O.S. 2021, Section 24-114, is |
---|
877 | 858 | | hereby repealed. |
---|
878 | 859 | | SECTION 8. REPEALER 11 O.S. 2021, Section 24-120, is |
---|
879 | 860 | | hereby repealed. |
---|
880 | 861 | | SECTION 9. This act shall become effective November 1, 2022. |
---|