Opinion ID: 2538420
Heading Depth: 1
Heading Rank: 1

Heading: OCIA's Application for Approval of the Proposed Bonds

Text: ¶ 4 In its application for approval of the proposed bonds, OCIA asserted there is no valid distinction between this bond proposal and the bond proposal previously approved by this Court in Fent v. Oklahoma Capitol Improvement Authority, 1999 OK 64, 984 P.2d 200. In Fent, we approved the first half of the bonds authorized in 73 O.S.Supp.1998, § 301, a $162,700,000 bond proposal, against an attack that the bonds would create a debt requiring voter approval pursuant to Okla. Const., art. 10, § 25. [4] ¶ 5 Anticipating protests to its application, OCIA argued that the proposed bonds do not violate either the separation of powers requirement in Okla. Const., art. 4, § 1, the appropriation requirements in art. 5, § 55, nor the purpose of borrowing requirement in art. 10, § 16. OCIA contended that by designating twenty-seven state agencies to participate in the bond program and the dollar amount for each agency for the purpose of `capital projects which are important to the furtherance of state functions' the statute passes constitutional muster for a self-liquidating revenue bond authorization statute.