OK SB1315

Local school districts and municipalities must request proposals from multiple individuals or firms when hiring underwriters, bond counsel, financial advisors, consultants, or trustees for bond sales and other debt obligations

Service providers must be selected based on who offers the most economical and competent service that furthers the best interest of the school district or municipality

Oklahoma State Bond Advisor must maintain and provide a list of interested service providers to issuers for use in competitive selection processes

Proprietary inducements are prohibited, and issuers may seek advice and assistance from the State Bond Advisor when negotiating service proposals

Written justification must be submitted to the State Auditor and Inspector and the Oklahoma State Bond Advisor when selecting any provider other than the lowest bidder