Okla. Stat. tit. 62, § 62-891.9
This is the official text of Okla. Stat. tit. 62, § 62-891.9, 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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Local governments liable for debt issued — Payments
Official statutory text
A. With respect to an eligible project financed through the
Infrastructure Pool, local government entities shall be required to
be financially responsible for the repayment of the debt issued by
the Oklahoma Development Finance Authority.
B. With respect to obligations incurred by the Authority for an
authorized infrastructure project, local government entities shall
make payments to the Oklahoma Development Finance Authority for
principal, interest, required reserve amounts, and any other amount
required in order to make the obligations issued by the Authority
marketable.
C. Repayment by local government entities pursuant to the
provisions of this section shall consist of authorized revenue
sources including, but not limited to, taxes levied by the local
government entities or which are available for use by such entities
pursuant to the provisions of Section 1370 of Title 68 of the
Oklahoma Statutes, Section 2701 et seq. of Title 68 of the Oklahoma
Statutes and the provisions of Sections 13 and 14 of this act.
D. The Authority shall use the monies in the Community Economic
Development Pooled Finance Revolving Fund created by Section 15 of
this act in order to make payments of principal, interest and other
costs.
Infrastructure Pool, local government entities shall be required to
be financially responsible for the repayment of the debt issued by
the Oklahoma Development Finance Authority.
B. With respect to obligations incurred by the Authority for an
authorized infrastructure project, local government entities shall
make payments to the Oklahoma Development Finance Authority for
principal, interest, required reserve amounts, and any other amount
required in order to make the obligations issued by the Authority
marketable.
C. Repayment by local government entities pursuant to the
provisions of this section shall consist of authorized revenue
sources including, but not limited to, taxes levied by the local
government entities or which are available for use by such entities
pursuant to the provisions of Section 1370 of Title 68 of the
Oklahoma Statutes, Section 2701 et seq. of Title 68 of the Oklahoma
Statutes and the provisions of Sections 13 and 14 of this act.
D. The Authority shall use the monies in the Community Economic
Development Pooled Finance Revolving Fund created by Section 15 of
this act in order to make payments of principal, interest and other
costs.
Status: in_force · Read it on the official government site
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