Okla. Stat. tit. 62, § 62-891.8
This is the official text of Okla. Stat. tit. 62, § 62-891.8, 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 Pool
Official statutory text
A. The Authority shall be authorized to act as a conduit issuer
for the benefit of one or more eligible local government entities or
for the benefit of one or more local government entities in
conjunction with a for-profit business entity for an authorized
economic development project using the Economic Development Pool.
B. The Authority shall be authorized to issue its obligations
in order to provide net proceeds on a pooled basis not to exceed One
Hundred Million Dollars ($100,000,000.00) for the Economic
Development Pool. The Authority shall be authorized to issue
obligations within the limit prescribed by this subsection based
upon the defeasance of previously issued obligations.
C. Except as otherwise provided by subsection G of this
section, proceeds from the Economic Development Pool shall be for
the purpose of providing financing for an eligible local government
entity or entities or for the benefit of a business entity for an
authorized economic development project located in this state.
D. Sixty-five percent (65%) of the net proceeds from the
Economic 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
Economic Development Pool may be used by the Authority for the
benefit of any and all eligible local government entities regardless
of population.
Oklahoma Statutes - Title 62. Public Finance Page 588
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. Otherwise, the obligations issued pursuant to the
provisions of this section shall be issued on a taxable basis.
G. The proceeds from the Economic Development Pool may also be
used for the purposes authorized by Section 891.7 of this title.
for the benefit of one or more eligible local government entities or
for the benefit of one or more local government entities in
conjunction with a for-profit business entity for an authorized
economic development project using the Economic Development Pool.
B. The Authority shall be authorized to issue its obligations
in order to provide net proceeds on a pooled basis not to exceed One
Hundred Million Dollars ($100,000,000.00) for the Economic
Development Pool. The Authority shall be authorized to issue
obligations within the limit prescribed by this subsection based
upon the defeasance of previously issued obligations.
C. Except as otherwise provided by subsection G of this
section, proceeds from the Economic Development Pool shall be for
the purpose of providing financing for an eligible local government
entity or entities or for the benefit of a business entity for an
authorized economic development project located in this state.
D. Sixty-five percent (65%) of the net proceeds from the
Economic 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
Economic Development Pool may be used by the Authority for the
benefit of any and all eligible local government entities regardless
of population.
Oklahoma Statutes - Title 62. Public Finance Page 588
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. Otherwise, the obligations issued pursuant to the
provisions of this section shall be issued on a taxable basis.
G. The proceeds from the Economic Development Pool may also be
used for the purposes authorized by Section 891.7 of this title.
Status: in_force · Read it on the official government site
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