In Re the Oklahoma Capitol Improvement Authority

¶1 KAUGER, Chief Justice:

¶2 The dispositive issue presented is whether highway improvement bonds authorized by 73 O.S. Supp.1997 § 168.61 create a prohibited debt within the meaning of the Okla. Const, art. 10, §§ 23,2 243 and 25.4 We find that the highway improvement bonds issued pursuant to 73 O.S. Supp.1997 § 168.6 are constitutional. Because the statute in question does not bind future Legislatures to make the anticipated appropriations, the highway improvement bonds do not create “debts” within the meaning of the Oklahoma Constitution. The full faith and credit of the state is not…