Okla. Stat. tit. 62, § 62-891.16
This is the official text of Okla. Stat. tit. 62, § 62-891.16, 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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Authority as conduit issuer - Public-Private Partner
Official statutory text
Development Pool – Issuance of obligations – Purpose of proceeds.
A. The Oklahoma Development Finance Authority shall be
authorized to act as a conduit issuer for the benefit of at least
one eligible local government entity in conjunction with one or more
for-profit business entities and/or federal government defense
entities for an authorized infrastructure development project using
the Public-Private Partner Development Pool.
B. The Authority shall be authorized to issue obligations in
order to provide net proceeds on a pooled basis not to exceed the
combined Economic Development Pool and Infrastructure Development
Oklahoma Statutes - Title 62. Public Finance Page 597
Pool amount authorized by Sections 891.7 and 891.8 of this title.
The Authority shall be authorized to issue obligations within the
limit prescribed by this subsection based upon the defeasance of
previously issued obligations.
C. The proceeds from the Public-Private Partner Development
Pool shall be for the purpose of providing financing for an eligible
local government entity for an authorized infrastructure project
located in this state that will benefit one or more business
entities located in this state.
D. Sixty-five percent (65%) of the net proceeds from the
Public-Private Partner Development Pool shall be used by the
Authority for the benefit of eligible local government entities the
population of which, according to the most recent Federal Decennial
Census, does not exceed three hundred thousand (300,000) persons for
any participating municipality.
E. Thirty-five percent (35%) of the net proceeds from the
Public-Private Partner Development Pool may be used by the Authority
for the benefit of any and all eligible local government entities
regardless of population.
F. Obligations issued pursuant to the provisions of this
section may be issued on a tax-exempt basis if the applicable
provisions of federal law governing private activity bonds allow
such issuance. In the event federal law does not allow issuance of
obligations on a tax-exempt basis, such obligations shall be issued
on a taxable basis.
A. The Oklahoma Development Finance Authority shall be
authorized to act as a conduit issuer for the benefit of at least
one eligible local government entity in conjunction with one or more
for-profit business entities and/or federal government defense
entities for an authorized infrastructure development project using
the Public-Private Partner Development Pool.
B. The Authority shall be authorized to issue obligations in
order to provide net proceeds on a pooled basis not to exceed the
combined Economic Development Pool and Infrastructure Development
Oklahoma Statutes - Title 62. Public Finance Page 597
Pool amount authorized by Sections 891.7 and 891.8 of this title.
The Authority shall be authorized to issue obligations within the
limit prescribed by this subsection based upon the defeasance of
previously issued obligations.
C. The proceeds from the Public-Private Partner Development
Pool shall be for the purpose of providing financing for an eligible
local government entity for an authorized infrastructure project
located in this state that will benefit one or more business
entities located in this state.
D. Sixty-five percent (65%) of the net proceeds from the
Public-Private Partner Development Pool shall be used by the
Authority for the benefit of eligible local government entities the
population of which, according to the most recent Federal Decennial
Census, does not exceed three hundred thousand (300,000) persons for
any participating municipality.
E. Thirty-five percent (35%) of the net proceeds from the
Public-Private Partner Development Pool may be used by the Authority
for the benefit of any and all eligible local government entities
regardless of population.
F. Obligations issued pursuant to the provisions of this
section may be issued on a tax-exempt basis if the applicable
provisions of federal law governing private activity bonds allow
such issuance. In the event federal law does not allow issuance of
obligations on a tax-exempt basis, such obligations shall be issued
on a taxable basis.
Status: in_force · Read it on the official government site
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