Bill > SB817

This bill amends Oklahoma law to enhance transparency requirements for local government bond issuances by mandating that local government entities (including counties, cities, towns, school districts, and various special districts) publish detailed information about proposed bond issues on their websites at least 30 days before voting on the bonds. The required information includes descriptions of projects to be funded, any unpaid previous bond issues, and a detailed accounting of how previous bond proceeds were used, with specific location details for real property acquisitions. If a local government entity lacks a website, it must make this information accessible online or publish it in a local newspaper. The bill also explicitly includes bond obligations issued by trusts for local government benefit and adds a new provision that prevents any local government entity from issuing bonds if they fail to comply with these transparency requirements. The law will become effective on November 1, 2025, giving local governments time to prepare for the new transparency standards.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb817&Session=2600