OK SB1011

Municipalities with governing bodies of fewer than 7 members may approve public trust indebtedness or obligations by a three-fifths (3/5) vote instead of the standard two-thirds (2/3) vote required for larger municipalities

Amends 60 O.S. 2011, Section 176, which governs the creation and operation of express public trusts benefiting the state, counties, or municipalities

Counties and municipalities generally still require two-thirds (2/3) approval of their governing bodies to create public trust indebtedness or obligations

Effective date: November 1, 2016