OK SJR75

Proposes amendment to Oklahoma Constitution adding new Section 26A to Article X to limit city, town, and township indebtedness and contractual obligations.

Prohibits municipalities from incurring debt or contractual obligations unless approved by majority vote of governing body, delegated officer endorsement, or majority vote of voters at an election.

New restrictions are cumulative with existing Section 26 debt limitations and do not nullify yearly income/revenue restrictions on municipal indebtedness.

Directs Secretary of State to refer proposed amendment to voters for approval or rejection following specified ballot title and procedures.

Requires President Pro Tempore of Senate to file copies with Secretary of State and Attorney General immediately after passage.