Who owns oklahoma turnpike authority

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Oklahoma Together. Job Listings. Brand Focus Home. Oklahoma's Turnpikes: Who Is Profiting? Join the conversation. News 9 What started out as one toll road connecting Oklahoma City and Tulsa has turned into a multi-billion dollar web of turnpikes across the state. Some lawmakers and citizens fear the turnpike authority has too much power. Without refunding, the original bonds issued to construct the Turner Turnpike would have been retired in the third quarter of Authority members were J.

Mathews, Sapulpa; and Joe R. Jarboe, Tulsa; and Governor Roy J. NOTE: SB provided for construction of the Turner Turnpike only and stated that upon redemption of all bonds issued, the Turnpike could become a non-toll state highway, subject to acceptance by the State Highway Commission.

The first meeting of the Oklahoma Turnpike Authority was held on August 7, The study, which concluded that the Turner Turnpike was economically feasible, was completed and submitted by the engineering firm of De Leuw, Cather and Company of Chicago in March HB also authorized construction of the Northeastern Turnpike this project was later named the Will Rogers Turnpike.

Williamson by Muskogee Mayor Lyman B. Beard, for determination of the correct form of ballot titles for statewide votes on SB and HB as passed by the Oklahoma Legislature earlier in the year. An election on the two state questions was set for January 26, by Governor Johnston Murray.

Highway 69 a project later named the Indian Nation Turnpike. The Highway Commission designation was for signage only. The first bid for construction on the Turner Turnpike was awarded on December 19, The Oklahoma Legislature passed HB on May 7, , created a new Oklahoma Turnpike Authority to replace the Authority created in , providing for statewide representation on the new Turnpike Authority and establishing the basis for a State system of Turnpikes.

The Turner Turnpike was opened to traffic at p. All Turner Turnpike construction as certified as complete on November 14, Voters approved both SB and HB , including the new structure of the Turnpike Authority and the three new Turnpikes, by more than 40, votes on January 26, The engineering and economic feasibility studies for the Will Rogers Turnpike were completed in October The first bid for construction on the Will Rogers Turnpike was awarded on April 27, The Will Rogers Turnpike was opened to traffic on June 28, Bailey Turnpike.

The Trust Agreement provided for the issuance of additional. Bonds on parity with the Series A Bonds for the purpose of refunding all the then outstanding Will Rogers Turnpike Bonds under certain specified conditions and upon such issuance or upon the retirement of the Will Rogers Turnpike Bonds, the Will Rogers would become and be operated as part of the Oklahoma Turnpike System.

The Muskogee Turnpike was opened to traffic on October 16, An increase in tolls on the Oklahoma Turnpike System became effective on January 15, Then the tolls would be removed and the state would own and maintain the highway. But that never happened. Instead, voters approved a cross-funding referendum in Cross-funding allowed profits from the first turnpike to be used to build additional turnpikes.

But that date will soon change as the OTA prepares to sell more bonds later this year. Bond holders aren't publicly listed. They are investors who buy and sell the bonds, much like stocks, on the open market. While the majority of the projects are awarded to domestic-owned companies, a majority of the money paid out goes to foreign-owned companies. Hundreds of millions of dollars going not just to other states, but to other countries.

Turnpike toll revenues, in millions of dollars These do not include concession revenues. Critics have also pointed to how much the OTA spends to maintain its more than miles of roads.

Missouri has the lowest spending per mile in the region and among the lowest in the nation, largely due to the large number of miles it maintains. Missouri has the seventh largest transportation system in the country and ranks 46th in revenue spent per mile.