Okla. Stat. tit. 19, § 19-460.5

A. The Oklahoma Energy Independence Act shall apply to all

properties, except single-family residential properties, on which

property taxes are to be paid and on which the owners of the

property are current in the payment of the property taxes, if

applicable. For the purpose of this act, property that is not

classified as single-family residential property shall be classified

as commercial property. The Oklahoma Energy Independence Act shall

not apply to any property zoned as single-family residential

property. Counties are authorized to establish commercial Property

Assessed Clean Energy (PACE) programs by resolution, without the

prior establishment of a County Energy District Authority, to

facilitate loans between qualifying property owners and private

capital providers. Counties that approve PACE programs are

authorized to enter into assessment contracts with property owners

and private capital providers in which:

1. The property owner shall be deemed to consent to the levying

and collection of annual PACE assessments to repay the loan;

2. The private capital provider shall collect the PACE

assessments directly or through a servicer; and

3. The private capital provider shall enforce the lien for an

unpaid PACE assessment, pursuant to the provisions of this section.

Counties may collect fees for costs incurred in the administration

of the PACE program in an amount to be fixed by the applicable board

of county commissioners and deposited with the county treasurer as

required by law. A county may also retain third-party

administrators for the administration of the PACE program.

B. The repayment of any loan made pursuant to the Oklahoma

Energy Independence Act shall be through annual assessments levied

by the county and collected under terms agreed to by the property

owner and the private capital provider.

Oklahoma Statutes - Title 19. Counties and County Officers Page 222

1. In the event of a mortgage on the property where a lien is

recorded pursuant to the Oklahoma Energy Independence Act, the

property owner shall obtain written consent from any mortgage holder

or holders prior to the issuance of any loan pursuant to the

Oklahoma Energy Independence Act.

2. Such loans issued in accordance with the Oklahoma Energy

Independence Act between a property owner and a private capital

provider shall not accelerate upon default of a mortgage.

C. Assessments levied to repay a loan made pursuant to the

Oklahoma Energy Independence Act shall constitute a lien on the

property which is the subject of the loan only upon the recording of

an assessment contract provided by the county on the property in the

office of the county clerk. Any lien imposed pursuant to the

Oklahoma Energy Independence Act shall run with the property and

have the same priority and status as a lien for unpaid ad valorem

property taxes and shall not be extinguished by virtue of a sale by

the county for delinquent property taxes or other special

assessments. The method of enforcing a lien for failure to pay an

assessment related to any loan made pursuant to the Oklahoma Energy

Independence Act shall be by the private capital provider in the

same manner and with the same priority as the enforcement by the

holder of any bond or coupon related to a lien for unpaid

assessments, as provided by law and pursuant to this subsection. If

any assessment levied to repay a loan made pursuant to the Oklahoma

Energy Independence Act remains unpaid for six (6) months after

payment is due, the private capital provider may file an action in

the district court in which the property is located to foreclose the

lien of the assessment, statutory delinquent interest, as provided

in this subsection, and reasonable legal fees. Any action filed

pursuant to this subsection shall not accelerate repayment of the

unpaid balance of a loan made pursuant to the Oklahoma Energy

Independence Act. Unpaid assessments levied to repay a loan made
n

the district court in which the property is located to foreclose the

lien of the assessment, statutory delinquent interest, as provided

in this subsection, and reasonable legal fees. Any action filed

pursuant to this subsection shall not accelerate repayment of the

unpaid balance of a loan made pursuant to the Oklahoma Energy

Independence Act. Unpaid assessments levied to repay a loan made

pursuant to this act shall accrue statutory delinquent interest at

the same rate as a late payment penalty for delinquent ad valorem

taxes. Judgment in an action to enforce the lien shall order the

property to be sold in the manner and form as foreclosure of

mortgages on real estate, with appraisement. The sale shall be

subject to existing taxes and special assessments, as well as

assessments levied to repay a loan made pursuant to the Oklahoma

Energy Independence Act.

1. Notwithstanding any other provision of law, the county

treasurer, in a sale for delinquent ad valorem property taxes or

other special assessments, may collect in that sale assessments

levied to repay a loan made pursuant to this act, inclusive of

penalties and fees, that are currently due or in arrears, or both,

and remit the assessment amounts received to the private capital

provider.

Oklahoma Statutes - Title 19. Counties and County Officers Page 223

2. Notwithstanding any other provision of law, if the county

takes title to property subject to a loan made pursuant to the

Oklahoma Energy Independence Act, the county, and not the county

resale property fund, shall be responsible for all expenses

associated with the preservation of the property and the related

assessments that are due will continue to accrue, inclusive of any

interest or penalties, and shall not be extinguished.

D. Only appliances or improvements that are permanently affixed

to the property shall be eligible for financing pursuant to the

Oklahoma Energy Independence Act. Improvements shall be related to

energy efficiency, energy sources, water conservation or building

resiliency and are available for new construction or improvements on

existing buildings that are qualifying properties. County PACE

programs shall establish which improvements qualify for financing.