Okla. Stat. tit. 62, § 62-891.13

A. As used in this section:

1. “Authority” means the Oklahoma Development Finance

Authority;

2. “Eligible local government entity” means:

a. a city,

b. a town,

c. a county,

d. any combination of cities, towns, or counties, or

e. a public trust with a beneficiary or beneficiary which

is a city, town, county or some combination of such

entities as authorized by Section 176 of Title 60 of

the Oklahoma Statutes;

3. “Existing levy” means a tax or other revenue-raising

mechanism approved by the voters of a county, city or town prior to

the effective date of this act;

4. “Municipality” means an incorporated city or town; and

5. “Pooled financing” means the use of municipal revenues,

derived from a levy imposed pursuant to the authority of Section

2701 of Title 68 of the Oklahoma Statutes, available to one or more

municipalities or county revenues, derived from a levy imposed

pursuant to the authority of Section 1370 of Title 68 of the

Oklahoma Statutes, based upon the local government entity

participating in a pooled financing.

B. Subject to the requirements of Section 2701 of Title 68 of

the Oklahoma Statutes, one or more municipalities may submit to the

respective voters of each such municipality the question of whether

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to impose a tax not previously imposed, authorized by Section 2701

of Title 68 of the Oklahoma Statutes, in order to provide revenues

to repay indebtedness incurred by the Authority for the purposes

authorized by the Oklahoma Community Economic Development Pooled

Finance Act. The provisions of this subsection shall be applicable

to any one or more municipalities participating in a pooled

financing, regardless of whether any other municipality, subject to

voter approval, will be imposing a tax levy to be used for the

purposes of this act for the first time or whether any one or more

of such municipalities, subject to voter approval, will be modifying

the purposes of an existing tax levy to allow revenues to be used

for the purposes of this act.

C. Subject to the requirements of Section 2701 of Title 68 of

the Oklahoma Statutes, one or more municipalities may submit to the

respective voters of each such municipality the question of whether

to modify an existing tax levy, previously approved by the voters of

such municipality, in order to allow the use of some part or all of

the proceeds from the existing tax levy in order to provide revenues

to repay indebtedness incurred by the Authority for the purposes

authorized by this act. The provisions of this subsection shall be

applicable to any one or more municipalities participating in a

pooled financing, regardless of whether any other municipality,

subject to voter approval, will be imposing a tax levy to be used

for the purposes of this act for the first time or whether any one

or more of such municipalities, subject to voter approval, will be

modifying the purposes of an existing tax levy to allow revenues to

be used for the purposes of this act.

D. Municipalities may submit questions authorized by this

section regardless of whether the municipalities are contiguous or

adjacent to one another.

E. A municipality that submits a question for the imposition of

a dedicated tax levy pursuant to the provisions of this section

shall specify the type of tax levy and the rate of the levy in the

question submitted which shall be clearly identified by the wording

of the ballot.

F. A municipality may impose a different tax levy or the same

type of tax levy at a different rate than any other municipality or

municipalities or a different tax levy or at a different tax rate

than any other county or counties submitting a pooled financing

question for voter approval.

G. The duration of the tax levy shall be identical in all

questions submitted for voter approval and shall not exceed twenty-

five (25) years.
nt tax levy or the same

type of tax levy at a different rate than any other municipality or

municipalities or a different tax levy or at a different tax rate

than any other county or counties submitting a pooled financing

question for voter approval.

G. The duration of the tax levy shall be identical in all

questions submitted for voter approval and shall not exceed twenty-

five (25) years.

H. The ballot for a pooled financing pursuant to the provisions

of this act shall clearly indicate:

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1. That the revenues from the tax levy are to be used for the

payment of principal, interest and other costs of borrowing

authorized by the provisions of this act;

2. The maximum maturity of the obligations to be repaid; and

3. The projects or assets to be acquired, constructed,

improved, maintained or otherwise used by the municipality as a

result of the imposition of the levy.

I. Revenues derived from a tax levy imposed pursuant to the

provisions of this section shall be paid by the municipality or

municipalities to the Community Economic Development Pooled Finance

Revolving Fund created pursuant to Section 15 of this act.

J. No tax levy imposed pursuant to the provisions of this

section shall be repealed until such time as the obligations issued

by the Authority are fully paid. In no event shall the duration of

the levy be extended beyond the duration approved by the voters of

the municipality or municipalities.