Shown verbatim: the complete text as captured from the official PDF posted by the Oklahoma Legislature, fetched 2026-07-23. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
1 STATE OF OKLAHOMA
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2 1st Session of the 60th Legislature (2025)
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3 SENATE BILL 817 By: Sacchieri
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6 AS INTRODUCED
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7 An Act relating to debt obligations; amending 62 O.S.
7 2021, Section 896.1, which relates to the Bond
8 Transparency Act of 2017; making certain provisions
8 applicable to obligations issued by certain trusts
9 for the benefit of public entity; prohibiting
9 issuance of bonds until an entity complies with
10 certain provisions; and providing an effective date.
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12 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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13 SECTION 1. AMENDATORY 62 O.S. 2021, Section 896.1, is
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14 amended to read as follows:
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15 Section 896.1. A. At least thirty (30) days after the approval
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16 for a vote on a bond or other evidence of indebtedness to be issued
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17 by the local government entities described in subsection C of this
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18 section, the governing board of such entity shall cause to be
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19 published on that local government website:
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20 1. A description of the projects or assets that will be
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21 acquired, improved or repaired with the proceeds from the issuance
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22 of the bonds;
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1 2. A description of any unpaid or unfinished bond approved by
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2 the voters of that jurisdiction preceding the date of the vote on
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3 the bonds to be issued; and
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4 3. A detailed description of the use of the previous bond
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5 proceeds. If the bond proceeds were used to acquire or improve real
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6 property, the description shall include a physical address using a
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7 street number or some other method by which the location of the
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8 property can be identified.
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9 B. If the local government entity does not have a website, then
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10 it shall make the information accessible through some other method
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11 using the Internet to persons who reside in the geographic area of
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12 the local government entity. Should there be no reasonable method
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13 as described in this section, the entity shall cause the information
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14 to be published at least once in a newspaper of general circulation
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15 in the geographic area in which the voters of the local government
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16 jurisdiction reside.
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17 C. The provisions of subsection A of this section shall be
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18 applicable to any bond or other evidence of indebtedness the
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19 repayment of which requires either a sinking fund millage rate
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20 pursuant to Section 26 of Article X of the Oklahoma Constitution, or
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21 bonds issued pursuant to the authority of Section 35 of Article X of
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22 the Oklahoma Constitution or pursuant to any provisions contained in
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23 any other provision of Article X of the Oklahoma Constitution to the
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1 extent not otherwise specifically identified in this section, which
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2 shall include:
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3 1. Counties;
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4 2. Cities;
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5 3. Towns;
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6 4. Common school districts;
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7 5. Career technology districts;
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8 6. Emergency Medical Service Districts; and
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9 7. Solid waste management districts.
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10 D. The provisions of this section shall not be applicable to
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11 include obligations issued by a trust organized pursuant to the
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12 provisions of Section 176 et seq. of Title 60 of the Oklahoma
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13 Statutes for the benefit of a local government entity described in
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14 subsection C of this section, whereby the proceeds of such
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15 obligations were expended by the local government entity for
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16 projects, assets, or property described in subsection A of this
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17 section.
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18 E. Any local government entity that fails to comply with the
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19 provisions of this section shall not issue any bonds or other
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20 obligations until the entity comes into compliance with the
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21 provisions of this section.
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22 SECTION 2. This act shall become effective November 1, 2025.
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24 60-1-420 QD 1/19/2025 5:44:02 AM
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Req. No. 420 Page 3Every fact on this page links to its source, starting with the official bill record.