The board of directors of any Conservancy District or Master Conservancy District, notwithstanding any other provision of the Conservancy Act of Oklahoma, and in addition to all other powers conferred by law, may borrow money and otherwise contract indebtedness for the purposes set forth in the Conservancy Act of Oklahoma, and, without limitation of the generality of the foregoing, to borrow money and accept grants from the United States of America, or from any corporation or agency created or designated by the United States of America, and, in connection with such loan or grant, to enter into such agreements as the United States of America or such corporation or agency may require; and to issue its bonds, notes or obligations therefor, and to secure the payment thereof by mortgage, pledge or deed of trust on all or any property, assets, franchises, rights, privileges, licenses, rights-of-way, easements, revenues, or income of the District. The bonds, notes or obligations issued pursuant to this section shall not be secured or retired by any assessment of real property located within the District nor shall they be deemed a general obligation of the State of Oklahoma, any municipality or the District.
Added by Laws 1995, c. 112, § 7, emerg. eff. April 21, 1995.
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