stating that this definition of the word “purpose” comports with the word’s “natural and ordinary meaning”
How later courts described this case
- stating that this definition of the word “purpose” comports with the word’s “natural and ordinary meaning”
- referring to the Oklahoma State Regents as a state agency
Written by the judges who cited it.
The opinion
OP ALA, V.C.J.,
concurring in result.
¶ 1 Although I am persuaded that today’s pronouncement represents a correct resolution of an issue in this controversy, I cannot give it my unqualified assent. The bonded indebtedness to be approved today is tainted by a pervasive and clearly incurable flaw. It cannot facially qualify as a self-liquidating loan transaction. Aside from its deficient descriptive designation, the obligation’s repayment source is not shown to come from a project-generated revenue stream but rather appears to draw from the uncertainty (or risk of legislative appropriation). The State may not borrow for any purpose without a vote of her people. Art. 10 § 25, Okl. Const. Attaching to the loan a “moral obligation” label will not erase the reality of placing the State in the status of a borrower. It is the act of receiving borrowed money sans the voters’ assent which offends the Constitution’s prohibition that lies at the base of this controversy.
*121 ¶ 2 Without fully joining the court’s pronouncement, I concur solely in today’s refusal to approve the bonds sought to be issued. For a full explanation of my analyses see Application of Oklahoma Capitol Imp. Auth., 1998 OK 25 , 958 P.2d 759, 779 (Opala, J., dissenting).