OTA Meeting To Consider Funding Resolution Deal With Wells Fargo Bank

The Oklahoma Turnpike Authority will meet Tuesday morning to consider a funding resolution.

The money would go toward repairs and new projects that many residents are fighting against.

The resolution looks to open up a revolving line of credit with Wells Fargo Bank.

It would provide interim financing for turnpike projects.

The resolution states the principal amount would not exceed $200,000,000.

The money would go in part toward a portion of the capital costs on certain projects.

Refunding previously issued bonds and funding reserves.

This vote comes amid criticism over the OTA's ACCESS Oklahoma project.

In particular, a proposal to build a turnpike extension through Cleveland County.

Just last week, State Sen. Mary Boren (D) proposed a resolution calling for an audit of the OTA.

Other members of the state legislature want to see new projects halted until current projects are paid off.

"We have a value system statewide that is bipartisan to not just continue to build toll roads until we have a plan to pay off the ones we've already built," said State Sen. Mary Boren (D) - Norman.

The OTA meeting over the funding resolution begins at 10:30 Tuesday morning.

You can look at all the material the authority reviews Tuesday morning by clicking here.