The bill amends Section 870 of Title 82 of the Oklahoma Statutes, which pertains to the Grand River Dam Authority's authorization to issue revenue bonds. The key changes include increasing the maximum bond capacity and updating statutory language to be more gender-neutral. The bill removes specific references to a previous bond limit of $1,410,000,000 and certain provisions related to the Oklahoma Department of Commerce, while also clarifying the authority's powers regarding the issuance and management of bonds for various corporate purposes, including the construction and operation of electrical generating facilities.

Additionally, the bill emphasizes the authority's ability to finance projects in cooperation with public agencies and private corporations, and it outlines the procedures for bond issuance, including the necessary approvals from the Attorney General and the State Auditor and Inspector. The bill declares an emergency, allowing it to take effect immediately upon passage and approval, thereby ensuring that the Grand River Dam Authority can promptly access the increased bond capacity for its operational needs.

Statutes affected:
House Committee Substitute: 82-870
Floor (House): 82-870
Floor (Senate): 82-870
Engrossed: 82-870
Amended And Engrossed: 82-870