|ENROLLED HOUSE | |BILL NO. 1294 By: Murphey and Sherrer of | | the House | | | | and | | | | Brogdon and Branan of the | | Senate | | | | | | | | An Act relating to counties and county officers; | | providing for financing of certain project types | | pursuant to the Rural Road Improvement District Act; | | defining term; prescribing procedures; providing for | | codification; and providing an effective date. | | | | | | | |BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA: | | | | SECTION 1. NEW LAW A new section of law to be codified | |in the Oklahoma Statutes as Section 902.12b of Title 19, unless | |there is created a duplication in numbering, reads as follows: | | | | A. Nothing in this act shall prevent the board of directors | |from using the levy provided for in Section 902.15 of Title 19 of | |the Oklahoma Statutes for financing improvements on a pay-as-you-go | |basis provided the district has no outstanding bonds or other | |evidences of indebtedness. Pay-as-you-go improvements shall be | |subject to the assessment limits in Section 902.15 of Title 19 of | |the Oklahoma Statutes, shall be approved in the same manner as | |described in Section 902.12 of Title 19 of the Oklahoma Statutes and | |shall not be approved for more than the actual estimated cost of | |such purchase and construction. For the purposes of this section, | |"pay-as-you-go improvements" shall be defined as improvements that | |are constructed and paid for when necessary revenues are | |accumulated. | | | | B. A district choosing to finance improvements on a | |pay-as-you-go basis shall not issue bonds or other evidences of | |indebtedness until a time following the financing and completion of | |pay-as-you-go improvements. | | | | SECTION 2. This act shall become effective November 1, 2009. | | Passed the House of Representatives the 11th day of May, 2009. | | | | | arsid9180182 ENR. H. B. NO. 1294 Page 1 ___________________________________________________________________________
| | | | | Presiding Officer of the House of | | Representatives | | | | | | Passed the Senate the 12th day of May, 2009. | | | | | | | | | | Presiding Officer of the Senate | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | arsid9180182 ENR. H. B. NO. 1294 Page 2©2008-09 eCapitol, LLC. All rights reserved.
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