Newspaper article THE JOURNAL RECORD

Briefly.In Oklahoma

Newspaper article THE JOURNAL RECORD

Briefly.In Oklahoma

Article excerpt

Gov. George Nigh on Wednesday signed a new law granting a one-year moratorium on farm loan foreclosures by the Federal Land Bank in Wichita, Kan.

House Bill 1734 quickly passed both houses of the Oklahoma Legislature on Tuesday.

Rep. Bill Brewster, D-Marietta, a leading author of this legislation, said:

"This is not a bail-out.

"The idea is to prod the Federal Land Bank into restructuring farm loans so there will not be so many foreclosures," Brewster said.

Land values in Oklahoma go down every time there is a foreclosure, Brewster said.

"The state's economy is at risk," Brewster said. "That's what we're trying to protect."

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The Oklahoma Senate suspended its rules Wednesday so it can consider the bill permitting interstate sales of failed and failing savings and loan associations.

The interstate "S&L" bill, also known as House Bill 2060, easily passed the Oklahoma House of Representatives on Tuesday. The vote was 86-10.

Senate President Pro Tempore Rodger Randle, D-Tulsa, the leading Senate co-author of this bill, requested the suspension of Senate rules.

A suspension of the rules is required to consider any bill past the session's bill-introduction deadline, which passed three months ago.

Randle also has asked that a public hearing be conducted next week on the interstate "S&L" bill before the Senate Banks and Banking Committee.

Sen. Bernard McIntyre, D-Tulsa, is chairman of the Senate Banks and Banking Committee.

A hearing date has not yet been scheduled, according to Senate staff members.

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Residential electric rates for 75 percent of all Oklahomans are slightly below the national average, according to a survey by the National Association of Regulatory Utility Commissioners.

Oklahoma customers of Public Service Co. of Oklahoma and Oklahoma Gas & Electric Co. paid an average of 7.46 cents per kilowatt hour during the summer of 1985, the survey said.

The national average for the 199 areas surveyed was 8.22 cents per kilowatt hour - less than one cent above Oklahoma's rate.

The survey did not include publicly owned utilities.

The two Oklahoma utilities included in the survey account for 75 percent of all Oklahoma residential electric customers. …

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