Okla. Stat. tit. 62, § 62-891.11
This is the official text of Okla. Stat. tit. 62, § 62-891.11, 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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Economic development project scoring system - Authority
Official statutory text
for the Economic Development Pool - For-profit business
participation.
A. The Oklahoma Department of Commerce shall establish a
scoring system in order to evaluate economic development projects to
be financed from the proceeds of obligations issued by the Authority
for the Economic Development Pool.
B. The scoring system shall include, but shall not be limited
to, analysis of:
1. Capital investment by a for-profit business entity;
2. New direct jobs, as such term is defined by Section 3603 of
Title 68 of the Oklahoma Statutes, to be created by a for-profit
business entity or entities;
3. Salary and wage payments to persons employed in new direct
jobs; and
4. Likelihood of additional business location decisions
resulting from the activity of the for-profit business entity or
entities that would benefit from use of the Economic Development
Pool.
C. One eligible local government entity, in conjunction with a
for-profit business entity, or a combination of eligible local
government entities, in conjunction with a for-profit business
entity, may apply to the Department for approval of a pooled
financing for an economic development project on such forms as the
Department may prescribe for such purpose.
D. The Department shall compile and maintain a prioritized list
of projects eligible for pooled financing through the Oklahoma
Development Finance Authority from the Economic Development Pool.
E. The Oklahoma Development Finance Authority shall use the
prioritized list provided by the Department in order to provide
financing to the eligible local government entity or entities or to
a for-profit business entity in conjunction with a local government
entity or entities.
F. The Authority shall, within the limit on available bond
proceeds in the Economic Development Pool, provide proceeds in
accordance with the scoring system used by the Department.
Oklahoma Statutes - Title 62. Public Finance Page 590
participation.
A. The Oklahoma Department of Commerce shall establish a
scoring system in order to evaluate economic development projects to
be financed from the proceeds of obligations issued by the Authority
for the Economic Development Pool.
B. The scoring system shall include, but shall not be limited
to, analysis of:
1. Capital investment by a for-profit business entity;
2. New direct jobs, as such term is defined by Section 3603 of
Title 68 of the Oklahoma Statutes, to be created by a for-profit
business entity or entities;
3. Salary and wage payments to persons employed in new direct
jobs; and
4. Likelihood of additional business location decisions
resulting from the activity of the for-profit business entity or
entities that would benefit from use of the Economic Development
Pool.
C. One eligible local government entity, in conjunction with a
for-profit business entity, or a combination of eligible local
government entities, in conjunction with a for-profit business
entity, may apply to the Department for approval of a pooled
financing for an economic development project on such forms as the
Department may prescribe for such purpose.
D. The Department shall compile and maintain a prioritized list
of projects eligible for pooled financing through the Oklahoma
Development Finance Authority from the Economic Development Pool.
E. The Oklahoma Development Finance Authority shall use the
prioritized list provided by the Department in order to provide
financing to the eligible local government entity or entities or to
a for-profit business entity in conjunction with a local government
entity or entities.
F. The Authority shall, within the limit on available bond
proceeds in the Economic Development Pool, provide proceeds in
accordance with the scoring system used by the Department.
Oklahoma Statutes - Title 62. Public Finance Page 590
Status: in_force · Read it on the official government site
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