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Council of Bond Oversight approves $500M bond for Oklahoma Turnpike Authority, considers ongoing lawsuits

OTA Board Meeting

Gene Love, chairman of the Oklahoma Turnpike Authority, calls the special meeting to order on June 9. Several protesters attended the meeting, yelling, "Trade your homes for ours," at board members.

The Council of Bond Oversight approved a $500 million bond issue for the Oklahoma Turnpike Authority on Tuesday, with conditions accounting for ongoing litigation from Pike Off OTA and Cleveland County residents

The council voted to only approve the issuance of bonds following the “resolution or dismissal” of both lawsuits. The litigation filed by Pike Off OTA alleges that three proposed turnpike routes part of the ACCESS Oklahoma Project — the Tri-City Connector, the East-West Connector and the South Extension — are not authorized within state statute

The second lawsuit has over 150 plaintiffs and claims the OTA violated the Open Meeting Act, arguing that OTA did not properly notify the public of meetings and agenda items. 

The next step in OTA’s bond process is to appear before the Oklahoma Supreme Court and receive a ruling on the validity of the bonds. The council approved a condition requiring a receipt of evidence that the Supreme Court validated the bonds before any bonds could be issued. 

The conditions voted on were not included in the agenda, though they were included in a memo that council members received in their agenda packets, which members of the public can receive in accordance with the Open Records Act. OU Daily obtained this memo following the meeting. 

While the public was not allowed to speak at the meeting, residents were allowed to send comments to council members prior to the meeting. Amy Cerato, a member of Pike Off OTA, submitted a letter requesting the council “hold the OTA accountable” and call for an independent audit of the authority. 

Cerato also requested the council postpone future consideration of any credit line or bond request for at least two years and until all studies that could find “ecological, environmental, humanitarian and economic devastation” have been completed.

Following the council’s decision, Pike Off OTA’s legal representation Robert Norman said the action taken was “expected,” adding that this decision is typical of the council’s usual vote. 

The Council of Bond Oversight previously approved a $200 million line of credit from Wells Fargo for OTA under similar circumstances involving ongoing litigation, though the OTA board of directors voted to terminate this line of credit in June. 

The OTA has filed motions to dismiss in both lawsuits, though no court has ruled on either matter.

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