*1 of a in succession is grantee the defendant minerals in interest
one-half Taylor before L. transferred by land Stella Taylor was a
resále, L. Stella time owner of the land at
record obligated the taxes was
resale and land, sustains we find the evidence
the defendant’s claim of one-half plaintiff, against
in the minerals as irrespective proceed- legality of. Accordingly in resale. we find the supports judgment
evidence as entered
by the trial court.
We do not decide the
the legality illegality pro of the resale
ceeding. gave Whether the trial court
proper judgment reason for its or consid issues,
ered unnecessary immaterial or correct, result being judgment will . Chaney Reddin, be set aside v.
Okl. 205 P.2d 8 A.L.R.2d Best, Van Hoozer v. 204 Okl.
The judgment is affirmed. HALLEY, J., JOHNSON, C. J., V. C. DAVISON, ARNOLD, O’NEAL,
WILLIAMS BLACKBIRD, JJ.,
concur. Williamson, Gen., Harry- Atty. Q.Mac J. Gen., Atty. state
Johnson, Asst. of Okl. City, for George Fagin, Oklahoma. J. Resources Bd. Okl.' Application the Matter of the In Chickasha, Fisher, RE Ada D. OKLAHOMA AND Lois PLANNING J.. Approval of BOARD for the SOURCES Diggs. Improvement State Park Bonds. JOHNSON, Vice Chief Justice. No. 36547. application by This an the Oklahoma. Planning and Resources Board for the Supreme Court Oklahoma. park improvement bonds,, proval of state Aug. 9, 1954. proposes making which it to issue for Sept. 13, Rehearing Denied park on numerous $850,00Q’ .refunding and for owned -improved by this- bonds issued Application In re of Oklahoma. court Board, 201 Planning and Resources Okl. 415. The amount of 203 P.2d $7,- issued is the sum of 200,000. application approval! our The. *2 Board. The bonds Planning and Resources authority given in sec- pursuant was filed S.L.1947, 611, requirements 74, p. herein meet the of the statute 17, 12a, Title tion Ch. O.S.1947, as amended and the above decisional rule. Supp. 356.17 3, Okl.St., 420, p. Sec. the Laws question presented is whether second Supp., Notice of the 356.1-356.20. Secs. agreements entered into the lease pub- duly application was hearing of the Board and the lessee and between the lished; objections protests nor were filed of the to issuance of bonds cover all made, hearing came and the matter required by the statute facilities which are application and the instru- on the written lease, agree- to be under and are such lease part made a ments attached thereto and requirements satisfy ments sufficientto thereof. 74, Chapter 12a, Ses- of Section of Title Oklahoma, 1953, Supp. sion 74 O.S. application Laws Examination of the 356.8,supra. that the issuance struments submitted shows conformity of the bonds are in substantial identical the second This (see provisions with the of the law statutes question in of In the case re above) cited which was enacted for the Board, supra. The Planning and Resources pose enabling the Oklahoma statutory factu- provisions involved and the improve- make Resources Board to practically the same al situation herein is parks ments in and to the various state therein, except that than one more the cost of such out subject matter of the is included chargeable fees for their use the use rule announced there is leases. The parks of the facilities of the various necessary plicable herein to here. It is not provided in acts. said principles legal again discuss the facts and purchasers appears prospective It that opinion are of the involved. We questions of the bonds have raised certain satisfy agreements sufficiently lease law, constitutionality of the as to the requirements the statute. operation plan of the of the also as presented is whether The third development program out in the res- as set presently outstand- the Board refund the issu- authorizing olution of the Board payable from the ing State Park Bonds will consider these ance of the We bonds. at Lake revenues of the facilities they appear (cid:127)questions in which in the order payable issue of bonds into this application. parks from the combined revenues question is: Are the bonds as The first overlapping interest be of the state and authorized to be issued an indebtedness Sec- in violation of State of Oklahoma 12a, Chapter Ses- 10 of tion Article the State Constitution 356.16, sion Laws of 74 O.S.1951 § on March and Sec- as amended expressly provides for of re- the issuance 24 and Article State Constitu- tions refunding any obligations of funding bonds expressly provide that tion? bonds the Board. Section 16 reads: solely they payable from the reve- shall operation of “The Board issue bonds nues derived from the here- purpose refunding not be an indebtedness of for the and shall under obligations Oklahoma or the Oklahoma theretofore the State of hereunder, may In the Planning and Resources Board. case authorize and issued single (cid:127)of In Oklahoma issue of bonds here- re deliver a part purpose supra, held that such bonds of refund- we were under obligations of the Con- not violative these sections acquisition statutory provi- of additional if in accord with stitution improvements. sions, supra, expressly provided Where bonds are is- the bonds solely solely they from the this Section were rev- sued under re- operation purposes, such funding ei- enues to provided parks, and as above or de- the state not an indebtedness of ther be sold outstanding exchange of Oklahoma or the Oklahoma livered
go sold, may- the Board from obligations. If all of the be either recreational and/or deposited in obligations improve es- areas for the refunded construction of crow for the thereof. Noth- ments which retirement such consolidated *3 ing herein contained shall be construed bond issue has been authorized.” any refunding to authorize the out- paragraph The second 2 of of Section standing obligations whi-ch are not ei- Chapter 12a, Title Oklahoma Session maturing, redemption ther callable for 356.6, Laws O.S.Supp. provides: terms, voluntarily sur- under their or “Any resolution authorizing the issu- by rendered their holders for cancella- ance may of bonds under this Act All tion. bonds issued under this Sec- covenants, tain including, but not lim- respects authorized, tion shall in all be to, ited (a) purpose purposes the or pro- issued and secured the manner to which the of the sale of vided for other bonds issued under this applied, bonds may deposit, be and the Act, and shall have all of attributes use, thereof; disposition (b) pro- of such The Board bonds. use, deposit, deposits securing of any vide refunding disposition of the revenues of the priority shall have the same of lien on Board, including the main- creation and pledged payment the revenue their reserves; (c) tenance of the issuance enjoyed by obligations as was re- payable additional bonds thereby.” funded Board; (d) opera- revenues of the 12a, Chapter 3 of properties Ses- tion and maintenance of 1953, O.S.Supp. Board; sion Laws Oklahoma of the (e) the insurance 356.8,provides: thereon, use, deposit carried monies; disposition of insurance prescribe “The Board shall and col (f) inspection books of account and the rates, fees, lect reasonable tolls and audit thereof and the accounting charges services, for the facilities and Board; methods of the (g) the non- by property commodities rendered all rendering any by free service Board, of the the revenues of which Board; (h) preservation payment pledged have been to the properties Board, of the long so as- hereunder, bonds issued and shall re any of the bonds remain outstanding, rates, fees, tolls, charges vise such any sale, mortgage, lease other necessary from time to time whenever specifically permitted encumbrance not de insure revenues to be by the terms of the resolution.” fully rived therefrom shall be sufficient provide power These statutes neces- pay principal of and interest on such sary indebtedness, for the Board to refund gross by bonds. revenues derived prescribe rates, fees, and collect reasonable operation any the Board from the services, charges tolls or part parts properties of the of the by property commodities rendered Board, but no revenues derived Board. The gross revenue derived appropria legislative through Board the Board from the opera tions or from sources other than part parts properties of the of the Board Board, tion of pledged payment prin- of the payment of such cipal and interest bonds. The Board principal Provided, that and interest. is authorized to enact a resolution contain- hereby the Board is authorized to con carry covenants to into effect such obli- improvements struct several gations. recreation areas and authorize and/or the issuance of one issue of bonds for The record discloses that the revenues improvements, Murray to pledge all such from Lake State Park facilities produced necessary liqui- than of such bonds and more was thereon, they due, revenues derived date the bonds as become but that li- pledged to the Oklahoma Session 1953. It is suffi- revenues Laws no say could quidation cient for us" that the resolution Lake park governing to the res- by. for other state statute are identical be used the Board governing of olution and statute in In re Okla- long as improvements, and that so supra, homa Planning outstanding the the bonds were n under its given we con- not issue and for the reasons therein agreement would prohibition clude that the in the statute is obligations additional bonds or issue; way applicable im- fees to an pledged to said to entrance from the revenues park proved needed area within the area of one preventing thus improved would inure to Board’s which has been by this state. bond issue. benefit whole *4 permit question presented Unquestionably statutes The fifth deals with Murray pro- inquiry State validity Board to refund the Lake of the as to part pro- Improvement of this Park Bonds into visions of the Bond Resolution which issue operation and make the entire issue of bonds vides that the revenues from the refund- including parks which is deemed of facilities in the which are de- payable from revenues bonds to be structed in with the the future park operation may from of the combined rived authorized issue bonds this properties Otherwise the -payment of the Board. for the included a source as plan the amended statutes initially intended bonds to be' issued. parks improvements all to secure customary provision This a usual and is n statecould not be pro- carried out. college Every in revenue bond resolutions. resolution in visions the bond .re- provides other revenue bond spect proper. are only payable from the bonds issued are not necessary have some Further it was from made revenues n overlapping interest paid since the first additions, ex- bond issue but also from Park day when the Lake replacements thereto. tensions and Improvement callable for re- Bonds were The Board Resolution authorizes the is- 195S, the bonds demption is while $25,000,000 Improvement suance of in are dated 1954. The statute $7,200,000 Bonds, bonds of such places it within the discretion the Okla- request being issued at this time with and Resources Board to homa approval by this Court. fix method of and determine the time and was stated in oral argument It refunding. attorneys for it the Board that was unnec- that the Board refund We conclude essary approve for this Court the full Improvement payable (cid:127)State Park Bonds $25,000,000 bond issue. We are therefore at,Lake Murray from revenues of facilities on, passing approving, legality or issue of .'State Park into this bonds of the full amount of the parks the combined revenues issue, approving but are bonds State, refunding (cid:127)of the and the be so $7,200,000. in issued the amount of overlap- amount of handled that a certain Section of the Bond Resolution pledges paid. ping interest be payment revenues and question pertains The fourth to the in- operation from the income n quiry provisions of whether the of the Bond period during the while of the bonds provide charging Resolution outstanding. authorized remain n ofentrance fees to the improved areas of objection legal pro- in There is as defined Section 7 of said to the Resolution, prohibition Bond violate the vision that the bonds issued paid rates, (cid:127)against operation collection of from revenues tolls n charges highways, parks improved bridges, for use of en- of the facilities in park sites, waterways pro- trance to as future with other bonds of the same issue. 12a, 3,/Chapter Chapter 12a, vided in Section Title Okla- Consequently, wholly in with- power the from it is date. Laws vests homa Session Board as to the the discretion of the as follows: maturity bonds, ma- long such power and shall “The Board have turity year date within the limitation. hereby authorized from time to time anticipa- negotiable issue its payment will not arrangement of any part all or tion of the collection of idle ex- mean funds. The bond resolution revenues, purpose of con- of its provides paragraph pressly the last im- reconstructing, structing, acquiring, paragraph (a) 1 8 as number of Section proving, bettering extending follows: properties which it to ac- is authorized “Money remaining in the Bond Fund hereunder, operate quire, maintain or year all interest each fiscal after properties including park now owned falling due has been Board and or leased the State or the provision- payment for such made pledge, shall of the in- and after the Reserve Account has been principal terest on and of such amount, required accumulated to its any part of the revenues derived shall be of as retirement of the- many of the bonds as can be retired *5 operated by so controlled and surplus with the so available. Bonds so Board.” purchased open shall be on retired 12a, Chapter 74, 3 Section Title Okla- price prices market at the best ob- policy homa Session Laws sets out the or, diligence, tainable due on complete to allow one issue of bonds for 1, 1956, may July be called for after. parks in several rec- and/or redemption, pur- but no bond shall be reation pledge areas and to price greater chased at a than the re- of bonds and the interest thereon revenues demption price prevailing on the next by the Board from the redemption date. All bonds so or all of the recrea- and/or chased or redeemed shall be cancelled tional areas for the im- construction of subject and shall not be to reissuance.” provements in which consolidated bond surplus money remaining In other words issue has been authorized. year in the bond fund in each fiscal after all provisions The last is: “Do the falling due in each and after requiring payment the Bond Resolution reserve account been has accumulated to into the Bond Fund of amounts that will required its amount shall be to re- approximately retire the bonds issued in purchase by tirement of bonds either on years although seventeen the bonds do not open redemption call for market or on or mature until violate the statute au- purchased All after bonds so thorizing ?” the issuance the bonds or redeemed shall. be cancelled and shall subject not be reissuance. The Board Within a maturity could have fixed the period years of three will years 17 reserve be bonds as from their date created, fully apparent and bonds can be off because it is that revenues from purchase for-redemption operated or call and facilities by the whichever $7,200,- Board will amount is less. Interest will saved be sufficient retire However, procedure. 000 bonds within that time. as á precautionary measure, the Board has seen Act, 12a, Chapter The- fit to name maturity an actual date of 30 74, Laws, 1953, Oklahoma Session author- years from date of issuance. procedure provides izes such because it applicable require statute does not that the Board Resolution contain such date,' terms, specified that the bonds mature on covenants and a conditions as' such subsequent leaves it to the discretion of the resolutions or resolution mature, provide. provides as to' the time the bonds shall Said Section further a authorizing contains limitation that such matu- resolution the issuance rity of the years covenants, shall not exceed of the bonds contain ** * the Are authorized to issued an (b) the bonds as eluding but limited not deposits Oklahoma
use, deposit, securing
and dis- indebtedness of
in- violation
10 of
of the Board
oí Section
Article
position of the revenues
on March
of State Constitution as amended
and maintenance
cluding the creation
24 and
Article
and Sections
reserves.
opinion
? I
State Constitution
am of
provisions
conclude that
We
this
should
answered
payment into
requiring
Bond Resolution
the affirmative.
that will retire
the Bond Fund of amounts
years,
approximately
the bonds issued
356.1,
pertains
In 74
O.S.
come
accord-
although
due
the bonds do
Oklahoma
proper.
until 1984
ing to their terms
language appears:
following
protest period,
July 28, 1954,
after
On
Act,
purpose of
“For the
protest was filed D.
pleading
a
a
termed
hereby
gov-
Board is
declared
park
alleges
he
Diggs which
J.
instrumentality
ernmental
”
are and will be maintained
**
of the State of Oklahoma
segregated basis
operated
separate
O.S.Supp.
'And
find the
356.2,
in 74
we
similarly
he
others
situated
and that
arid
provisions:
following
free,
full and
will be
and refused
denied
unrestricted use
hereby
“The Board shall have
operated by the
facilities maintained
following
exercise
authorized to
and Resources Board
privileges:
powers, rights and
color, contrary
of their race
because
posses-
“1. To have the exclusive
United
and laws
to the constitution
of,
control, op-
sion
and control
States.
and maintain for the benefit of
erate
*6
by
justiciable
raised
No
people
the State
of Oklahoma
nothing
pleading and
find
in the
we
all
all
lands and other
justify
com-
proceedings
such
which would
by
properties now or hereafter owned
plaint.
park
or
State for
recreational
$7,200,000
sum of
The bonds
issued
poses.
approved
fix the
within
we
time
by purchase, lease,
acquire
“2. To
petition
may be filed
rehearing
a
gift,
in any
condemnationor
man-
other
days
opinion
date this
at five
maintain,
operate
ner and
use and
promulgated.
any
real,
property,
personal
and all
or
mixed, necessary or
convenient to
HALLEY,
J.,C.
and DAVISON and
powers, rights, privi-
exercise of
ARNOLD, JJ., concur.
leges
upon it
and functions conferred
by
property-
Title to
this Act.
O’NEAL,
by
J.,
reason of stare
concurs
shall be vested in the
Okla-
State of
decisis.
homa,
property
although such
is some-
property
times
referred
herein
to as
WELCH, CORN, WILLIAMS,
”
added.)
‘of
(Emphasis
the Board.’
BLACKBIRD, JJ., dissent.
351k,
74
O.S. 1951
creates
the State
§
WILLIAMS,
(dissenting).
Justice
Treasury
revolving
fund
known as
agree
majority
am unable to
the State Park Fund which is to consist of
opinion and
it to be
con-
believe
direct
moneys
that are received from the sale
opinion in the Application
with our
flict
fees,
permits,
fines,
penalties,
forfeitures
Educational
of the Oklahoma
Television
by
any
or
collected
the State
licenses
or
sub-
Authority
Bonds,
Approval of its
Okl.
thereof,
any public
any
or
division
officer or
P.2d
person
for the violation of the laws
presented
regulations pertaining
by
ap-
first
Park
to State
laws of
is:
this state.
plication
351Z,
following
thereby
O.S.1951
contains
Board and
inbe
direct contraven-
pertinent provisions:
plain provisions
tion of the
of the Consti-
quoted.
tution above
hereby empowered
“The Board is
rent,
operate,
any
or lease
and all
The Oklahoma
cessions,
etc.,
cottages, buildings,
nec-
Board is not
a State institution or
essary
pleasure
supported
or desirable for the
but it is one
State
park visitors,
propriated
self-liquidat-
set
fees
funds and is not a
* *
use;
ing agency
governing
make rules
their
such as the Grand River Dam
Authority
further,
building
Turnpike
Provided
that no
the Oklahoma
Au-
thority.
structure or
other than
This is well illustrated
the fact
structures,
buildings,
appropriations
State-owned
total
for all func-
any
be constructed on
tions of
State
the Board for
the fiscal
1954-
* * *
any
$1,371,800.
was in the
time.
Provided fur-
amount of
In
ther,
approving
that all
rentals
fees or
collected
bonds issued
the Grand
deposited
shall be
in the State
River Dam Authority
Treasur-
in State ex
Kerr
rel.
v.
monthly
Grand
er
on the first of each calendar
River Dam Authority, 195 Okl.
month to the credit
P.2d
this Court said the defend-
ant authority
operate
Fund.”
did not
in whole or
on State revenue and was therefore
provides
v. proved authority Application on the of of, adoption prior promulgated to the Regents University Board of Okla- 10 Article to Sec. 1941 amendment homa, supra, without further comment. Constitution, are therefore not Application present case. The first The case of to the case relevant .Oklahoma adoption supra, after considered Murray was Amendment that of which Lake Constitutional involved issue, Authority, arise, was next River Dam case to and in Grand it State v. disposed there that this court of the supra. The court held the amend constitutional by merely saying question right article 10 of the Con that the to section uf ment provide apply legislature to the adopted carrying in 1941 did not to stitution
gg 356.11, projects by pro- out liquidating of self above mentioned which agencies upheld had been in numerous hibits the Board from or other- mortgaging support encumbering any property wise citing cases and in two of its any kind, except prior cases which were decided the 1941 revenues Application pledged. right constitutional amendment The to have a receiver take Regents property surely over State Agri- Board of for Oklahoma owned must Colleges, supra. property. cultural and constitute an Mechanical It encumbrance of such is quite point true that this case is in provides bond resolution in bar, the one at it is also true charging of entrance to the im- fees opinion quite patently is in error com- proved areas as in defined pletely ignores plain provisions of the Section of7 said Bond resolution. Such 1941 constitutional amendment. provision obviously in violation of the holding Applica- The same was made prohibition against rates, the collection of tion of Turnpike Authority, tolls or charges highways, use of supra, citing all of the above cases discussed sites, bridges, entrance to or water- authority therefor. The Oklahoma ways 3, Chapter 12a, found in Section Turnpike Authority is an which 74, Oklahoma Session Laws 1953. Further- qualify exception would as an under the more, authority levy of' the Board to rule laid down State v. Grand River Dam and collect fees and charges is set out in Authority, supra, opinion and that there- O.S.Supp. 356.2 and 356.8 and §§ probably error, fore although the stretch imagination any includes statement of law contained therein is authority impose an entrance fee to erroneous. improved so-called area. opinion Application Not until the The bond proposed resolution and issue the Oklahoma Educational Television Au- objectionable is also proposes in that it thority Approval Bonds, supra, For of Its presently refund outstanding State Park promulgated was was consider- serious Bonds from the revenues of the given ation case to the effect of the Lake State Park into (cid:127)1941 constitutional amendment. There for which are dated the first pointed time it was out that 1954, payable from the combined revenues constitutional amendment to all state, provides just debts and not to might those look overlapping interest be power taxing payment, thorough- While O.S.1951 author- 356.16 ly demonstrating the incorrectness of refunding izes of bonds and is relied on here holdings contrary. authority proposed action, it specifically provides: A careful review of all of cases these leads me to the conclusion that “Nothing herein contained shall be cases of River State v. Grand Dam Author- construed authorize the refunding ity, supra, Authority and the Television outstanding obligations of any case, supra, any pertinent contain law on maturing, are hot either callable for us, pro- before and that terms, redemption under their vol- posed disapproved. bond issue should be untarily surrendered their holders objection- for cancellation.” issue is also grounds, able on other which will mention *9 possible purpose provi- The of this briefly. but prevent paying sion is to of double provide sought is to Such in as here. the event of may apply default outstanding bondholders as Bonds are' not right appointment matter maturing for'redemp- and are not callable of a receiver possession January 1, who enter and They take tion to 1955. any part of all of obviously subject therefore to refund- operate and maintain ing voluntarily by: the same. Such a now unless surrendered provision clearly is violative of 74 O.S. their holders for cancellation. The fact that
they thereby will become callable these bonds. This transaction is self-liquidating does not out authorize the issuance refund- taken of the class brought bonds on debts and violation Sec. 1954. is into 23, Art. 10 of the Constitution. See the authorizing statute the Board in Legislative Act referred to in the bonds, to issue its revenue so-called opinion. majority places upon limit the amount of virtually upon purposes pledges no control The overall made as to the reve- This, debt, expended. pay for which same nues to be this my mind, absolutely obligations the Act and condemns as to stated improper unconstitutional, go being as an further than in case where as attempt authority. approved delegate legislative this Court has revenue Law, In 11 they obliga- Constitutional Sec. and this a debt and constitute Am.Jur. page against Agency it is said: tion this of the State State, against this Institution if not standard, “Although there is no def- itself, it, against the State I see and that as approximate, inite or even to which prohibited by is the Constitution. conform, legislation must ‘it is not produces cited, validly provision it enacted where The constitutional above n delegation authority adopted by people legislative in vote substance, unconfined, provides, vagrant, and not in material follows: is keep it from canalized within banks to “The State shall never create au- ” overflowing.’ thorize the creation of debt or ob- or, pay any deficit, ligation, or fund Smithberger Banning, In v. 129 Neb. State, department, against 262 N.W. the first A.L.R. thereof, regard- institution or syllabus, paragraph of A.L.R. Editor’s money less of its form or the source of as follows: * * * paid, it is to be appropriates “A statute which $4,000,600 relief, my ‘work direct re- reach conclusion herein from the assistance, lief, itself, age language old assistance to of the Constitution and in children, dependent un- from our decision in the Television mothers case, insurance, employment health moth- Bond P.2d children, public health or re- ers and pledge There is no but that the welfare, security lated matters of portions quite of certain of the revenues is works, especially roads, by public proper, properly and it be that labor,’ of work relief the use portion of the revenues will be board, expended by an administrative sufficient to the bonds so that no other providing rules standards without applied thereto, funds or revenues need be leaving the distribu- guidance change that would not the fact nor the among fund the various tion of the legal present conclusion that the transac- poses arbitrary out the act to the set Bonds, up tion as set Resolution board, the administrative discretion Agreement, and in the Trust creates a debt attempt to an unconstitutional dele- an obligation violation of the Consti- authority.” legislative gate tution, Ias see it. in a dealing general authorities Further respectfully Therefore I dissent and I subject may be found A.L. way with say am authorized to Mr. Black- Justice Law, 71, (13) and Sec. Constitutional R. joins in these bird views. Bonds, 130. A.L.R. respectfully I therefore dissent. CORN, (dissenting). Justice upon In case we say are called WELCH, (dissenting). Justice whether the resolution of the Planning and passed goes July 29th, As I view it the Board too far Resources Board it *10 is in pledged monies violation of Section Article reference to the facilities, lodges, resolu- 10 of the State Constitution. The restaurants and cabins improvements and tion is follows: to make such other contemplated by plan thereto as are the issu- authorizing "A Resolution the improvement approved of heretofore $25,000,000 Im- ance of Park State board; by the and provement Bonds of the Oklahoma Planning the and Board for the board "Whereas does not have purpose improvements to making of purposes, funds available for such and parks purpose of re- state and for the it is therefore desired to pay the cost certain issued funding bonds heretofore through thereof the issuance of the purpose; sale confirming for such the board, of pursuant revenue bonds the bonds; pay- providing of such authority Chapter contained in 12a principal ment of and of of Title 74 the Session of Laws thereon; security of providing for the amended; Oklahoma, bonds, certain entering into the board “Whereas has heretofore agreements covenants and in the above $850,000 issued revenue bonds for the connection.” purpose improving Murray of Lake there now exist “Whereas Park State and as pay- Oklahoma for the use State of ment of such bonds the revenue to be convenience inhabitants thereof the of Lake designated areas as ‘state recreational Murray Park, State order parks parks’ of which are to state possible make construction of addition- improved proceeds with of the al Murray Lake State authorized, bonds herein and all Park and in order to release for the parks acquired by hereafter payment improve bonds of issued to of of Oklahoma the issuance parks, the revenue now pledged of the last the bonds herein authorized payment of the aforesaid reve- improved similarly will be with the nue it is desired to refund said Accordingly, such bonds. bonds into an issue of revenue bonds parks properties and recreational payable from the of all revenue Oklahoma, by the now State owned parks, bonds shall be issued for with together all additions which purpose improving the combined and all be made thereto additional parks all of the and refunding the and recreational aforesaid revenue bonds acquired by State of be hereafter revenue Lake State by Planning Oklahoma Park, which bonds are under their improved Resources Board and subject redemption terms to call for any part proceeds January 1, and can be so called authorized, herein herein- refunded; redemption “the after sometimes referred to as "Now, Therefore, Be It Resolved parks”; the Oklahoma and Re- jurisdiction parks over ‘Whereas sources as follows: imposed in the Oklahoma "Section 1. That the parks im- Board, which board is proved preamble as recited here- hereinafter in this sometimes resolution to. board,” to as “the and it has referred purpose 2. That determined the board to be nec- "Section been essary, improving parks, order to make available to paying the cost people purpose $850,- state fuller benefit and for the of refunding opportunities Improvement af- recreational Bonds 1, 1949, improve January forded dated numbered 1 to through acquisition 850, inclusive, due cluding struction recreational reasonable *11 72 principal shall be as to both and services
legal, engineering fiscal thereto, interest at First National Bank and and to incidental Company au- and Trust and Oklahoma of the bonds herein on each block City, City City, period covered of Oklahoma thorized for Oklahoma, option improve- or at the of the hold- construction of the acquired er thereof at United Trust Com- parks to States ments to the be block, York, City a pany and for New of New proceeds of such York, thereafter, period there New York. Bonds numbered 1 months of six inclusive, the in- credit of to shall bear interest shall be issued on the per the rate of four one-half to be diverted cent come and revenue per operation parks, (4½%) until annum from date board from the 25,- paid, principal $25,- amount bonds numbered 7201 to bonds in the 000, inclusive, 000,000. shall All revenue and income bear interest at opera- every such rate or rates as be determined nature derived period therof, at the time of the all of during tion of the sale payable January author- which interest the bonds herein is to be while spe- semi-annually 1955 outstanding, including thereafter ized remain limitation, money cifically, July year. without on each but as rentals or otherwise The bonds numbered 1 to received inclu- buildings sive, principal and facilities shall the use of mature as to on 1, 1984, parks, July admission fees located and bonds numbered 7201 portion 25,000, inclusive, to charged for entrance to the shall mature on park hereinafter as the each of the thirtieth defined after issu- July Area,’ charges ‘Improved fees and ance. inspection of water- collected , “The bonds shall be callable for re- craft, money received for licenses and demption prior maturity op- to at the oper- permits, permits for the including board, tion of the with the bonds to be water-craft, money received ation of so on redeemed each interest operating in the concessionaires by lot, July 1, date to be selected on parks, charges made for the use of any payment 1956 and on date thereaft- operated by ánd owned er, payment, if therefor can within the boundaries 'of the board made from the revenues derived from parks, fishing licenses income operation parks. permits (except to the extent that redemption shall also be callable for required by law such revenue is now prior maturity option to at the purpose), to be used for some other board, part, by whole, lot paths fees received for the use of bridle regard without pay- to the source of parks, generally, reve- ment, July 1, on any pay-' and on board from' the nues received Any ment date thereafter. bond re- existing all facilities pursuant option deemed to either or from lease- several reserved, redemption shall so be redeem- or other all of the use of principal able at the amount portion thereof, collectively plus accrued interest to the date fixed hereinafter in this resolution sometimes redemption premium of $50 referred to as ‘the revenues’. so prior if redeemed on July 1, to “Section That said bonds shall be if thereafter $40 on or redeemed Improvement known ‘State prior July if redeemed $30 (hereinafter Bonds’ in this resolution prior July 1, thereafter on or referred bonds’), sometimes to as ‘the if redeemed prior thereafter $20. in, 1, 1954, July shall be shall dated .if $10 redeemed $1,000 each, the denomination maturity. shall thereafter Notice 25,000, inclusive, redemption numbered given shall be not less *12 money thirty days prior date fixed source from which it than * ** by regis- redemption by notice sent holder or holders tered mail to the following tabulation shows redeemed, directed to the bonds to be come of the various state Registrar’s shown on the addresses past presently existing fiscal books. If registration facilities: prin- registered as to so redeemed is cipal thirty days notice shall' least Quartz $19,157.14 1. .Mountain publication an given through 14,946.64 2. Beavers Bend appropriate financial notice news- . 30,370.41 3. Robbers Cave paper journal published City 6,235.27 Osage Hills 4. York, York, of New and sent New 3,080.43; Boiling Springs 5. registered mail to the banks at 22,366.90 Sequoyah 6. ” * * * payable. 9,496.40 Texoma 7. 23, Article of the State Con- 17,112.77 Roman 8. Nose on March stitution as amended 98.25 9. Wister Lake as follows: Alabaster 559.45 10. Caverns 1,118.31 Greenleaf 11. Lake “The State shall never create or au- 6,216.01 Tenkiller
thorize the creation of debt ob- * * * against State, ligation agen- Appropriations any department, to the Oklahoma Planning institution thereof, regardless and Resources Board are cy of its form or as follows:" Appropriation
Total Capitol includ- functions, Park Operation Improvements Fiscal Year Administration 175,836.30 38,900.00 8,787.40 1943-44 $ $ $ 122,640.00 37,900.00 1944-45 Nil 283,760.00 52,010.00 46,400.00 1945-46 243,760.00 52,010.00 11,400.00 1946-47 766,125.00 80,430.00 214,350.00 1947-48 378,845.00 80,690.00 7,350.00 1948-49 . 898,642.00 165,862.00 256,500.00 1949-50 628,790.00 150,462.00 1950-51 Nil . 1,191,842.00 171,862.00 469,500.00 1951-52 631,990.00 156,462.00 1952-53 Nil 1,603,200.00 655,717.67 1953-54 680,559.61 1,371,800.00 1954-55 In order self-liquid- bonds to be from the net derived from the
ating, and not in violation of Section of the buildings and facilities Article 10 of Constitution, money built received from the sale dissent, money the interest and retire the respectfully of the bonds. necessarily bonds would solely have to come