Senate Bill No. 817 amends Section 896.1 of Title 62 of the Oklahoma Statutes to enhance transparency regarding the issuance of bonds or other debt obligations by local government entities. The bill mandates that at least thirty days after a bond vote approval, the governing board must publish detailed information on their website about the projects funded by the bonds, any outstanding bonds, and the use of previous bond proceeds, including specific property addresses if applicable. If a local government entity lacks a website, they must provide this information through alternative online methods or publish it in a local newspaper.
Additionally, the bill clarifies that the provisions apply to various local government entities, including counties, cities, and school districts, and introduces new language stating that obligations issued by trusts for local government projects are included under these requirements. It also establishes that any local government entity failing to comply with these provisions will be prohibited from issuing bonds or obligations until they meet the compliance standards. The act is set to take effect on November 1, 2025.