OK Supreme Court Validates OTA Bonds for Expansion Projects

Tulsa World reports, “The Oklahoma Supreme Court on Tuesday [December 13] validated the first phase of bonds for a turnpike improvement and expansion project, paving the way for toll increases. The first phase of the Driving Forward initiative is for $480 million. The Oklahoma Turnpike Authority approved specific toll increases for turnpikes last week. The hike is 12 percent, and additional increases totaling 5 percent could be implemented later.” OTA’s Tim Gatz tells the newspaper a mid-January bond sale is expected, which means the toll increases would take effect in February 2017. Click here to read the state supreme court’s pre-publication opinion.