- (a) In all stages of proceedings leading to the issuance and sale of general obligation bonds pledging the full faith and credit of the state, it shall be a duty of the Attorney General to perform all necessary legal work incident thereto. Neither the Attorney General nor any other officer of the state may use any public funds to pay for the services of a private attorney or consulting fee in connection with such work. Neither the Attorney General nor Assistant Attorney General shall receive any remuneration, other than his salary, for legal services performed in proceedings leading to the issuance and sale of bonds as provided in this act. If a "marketing" opinion is desired, the bond buyers shall pay for its procurement.
- (b) In all proceedings leading to the issuance and sale of revenue bonds by any state agency acting pursuant to a specific legislative validating act, a private attorney or attorneys may be employed when the legislative validating act does not prohibit such employment. The employment contract with said private attorney or attorneys shall be filed of record with the Attorney General. In no case shall the employed private attorney be paid a fee in excess of that authorized in the validating act. If a "marketing" opinion is desired, the bond buyers shall pay for its procurement.
- (c) In all proceedings leading to the issuance and sale of general obligation bonds or revenue bonds by any state agency acting pursuant to a specific legislative validating act, any financial or marketing consultant employed by the state for services relative to the marketing of such bonds shall not be paid a fee in excess of that authorized in the validating act.
- (d) Nothing herein shall apply to legal proceedings leading to the issuance or sale of bonds pursuant to Article 10, Sections 26, 27 and 35 of Oklahoma Constitution or to any obligation issued by public trusts under the Public Trust Act (except those trusts created by the state as contrasted to its subdivisions or other governmental entities), the Interlocal Cooperation Act and the Local Industrial and Development Act.
Added by Laws 1973, SB 210, c. 129, § 1, emerg. eff. May 10, 1973.