Okla. Stat. tit. 62, § 62-876
This is the official text of Okla. Stat. tit. 62, § 62-876, part of Oklahoma’s Stat. tit. 62, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 62,." Browse the sections below, each linked to its official government source.
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Acquisition of real property - Sale or lease to developer
Official statutory text
Oklahoma Statutes - Title 62. Public Finance Page 574
A. Any governing body which has established a rural housing
incentive district as provided in the Oklahoma Rural Housing
Incentive District Act may purchase or otherwise acquire real
property; however, the property may not be acquired through the
exercise of the power of eminent domain.
B. Any property acquired by a municipality or county under the
Oklahoma Rural Housing Incentive District Act may be sold or leased
to any developer, in accordance with the rural housing incentive
project plan and under such conditions as shall have been agreed to
prior to the adoption of the project plan. The municipality or
county and the developer may agree to any additional terms and
conditions, but if the developer requests to be released from any
obligations agreed to and embodied in the project plan, such release
shall constitute a substantial change and subject to the
requirements provided in subsection B of Section 6 of this act.
A. Any governing body which has established a rural housing
incentive district as provided in the Oklahoma Rural Housing
Incentive District Act may purchase or otherwise acquire real
property; however, the property may not be acquired through the
exercise of the power of eminent domain.
B. Any property acquired by a municipality or county under the
Oklahoma Rural Housing Incentive District Act may be sold or leased
to any developer, in accordance with the rural housing incentive
project plan and under such conditions as shall have been agreed to
prior to the adoption of the project plan. The municipality or
county and the developer may agree to any additional terms and
conditions, but if the developer requests to be released from any
obligations agreed to and embodied in the project plan, such release
shall constitute a substantial change and subject to the
requirements provided in subsection B of Section 6 of this act.
Status: in_force · Read it on the official government site
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