Suit Alleges Noncompetitive Oklahoma City Deal Was Illegal

Williamson, Richard
April 2003
Bond Buyer;4/28/2003, Vol. 344 Issue 31623, p3
Trade Publication
Oklahoma City illegally hired the Oppenheim Division of BOSC Inc. to negotiate the sale of three bond issues last year totaling more than$ 120 million, according to a citizen's lawsuit that demands the return of$ 1.6 million in fees paid to one of Oklahoma's most prominent public finance firms. The suit filed in the name of Oklahoma City resident Connie Baldwin claims Oklahoma City and the Oklahoma City Airport Trust that manages bond funds illegally transferred money to Oppenheim by failing to sell the debt competitively. Oklahoma's$ 1 billion grant anticipation revenue vehicle program at the state Supreme Court by Oklahoma City attorney Jerry Fent led to a declaration that the state's bond approval process was constitutional.


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