Okla. Stat. tit. 69, § 69-404
This is the official text of Okla. Stat. tit. 69, § 69-404, part of Oklahoma’s Stat. tit. 69, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 69,." Browse the sections below, each linked to its official government source.
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State Infrastructure Bank Revolving Fund
Official statutory text
A. There is hereby created in the State Treasury a revolving
fund for the Department of Transportation to be designated the
Oklahoma Statutes - Title 69. Roads, Bridges, and Ferries Page 49
"State Infrastructure Bank Revolving Fund". The fund shall be a
continuing fund, not subject to fiscal year limitations, and shall
consist of the following:
1. All monies received by the Department of Transportation as
provided in Section 403 of this title;
2. All monies received pursuant and subject to the provisions
of the National Highway System Designation Act of 1995 and the
Transportation Infrastructure Finance and Innovation Act of 1998
which are eligible for use in state revolving loan funds established
to meet the requirements of that act;
3. All monies appropriated to this fund;
4. Payments of principal and interest and penalty payments on
loans made directly from federal monies and appropriated monies in
this fund;
5. Annual state administration fees of one-half percent (1/2%)
on the outstanding loan balance; and
6. Any other sums designated for deposit to this fund from any
source, public or private.
All monies accruing to the credit of the fund are hereby
appropriated and may be budgeted and expended by the Department of
Transportation for the purposes of effectuating the provisions of
this act. Expenditures from the fund shall be made upon warrants
issued by the State Treasurer against claims filed as prescribed by
law with the Director of the Office of Management and Enterprise
Services for approval and payment.
B. The monies placed in the State Infrastructure Bank Revolving
Fund shall be invested by the State Treasurer as prescribed by
Section 89.2 of Title 62 of the Oklahoma Statutes. Any interest
earned by the State Treasurer shall be deposited to the credit of
the State Infrastructure Bank Revolving Fund. Monies invested by
the State Treasurer shall be available to meet the program funding
needs established by the Department of Transportation pursuant to
this act.
fund for the Department of Transportation to be designated the
Oklahoma Statutes - Title 69. Roads, Bridges, and Ferries Page 49
"State Infrastructure Bank Revolving Fund". The fund shall be a
continuing fund, not subject to fiscal year limitations, and shall
consist of the following:
1. All monies received by the Department of Transportation as
provided in Section 403 of this title;
2. All monies received pursuant and subject to the provisions
of the National Highway System Designation Act of 1995 and the
Transportation Infrastructure Finance and Innovation Act of 1998
which are eligible for use in state revolving loan funds established
to meet the requirements of that act;
3. All monies appropriated to this fund;
4. Payments of principal and interest and penalty payments on
loans made directly from federal monies and appropriated monies in
this fund;
5. Annual state administration fees of one-half percent (1/2%)
on the outstanding loan balance; and
6. Any other sums designated for deposit to this fund from any
source, public or private.
All monies accruing to the credit of the fund are hereby
appropriated and may be budgeted and expended by the Department of
Transportation for the purposes of effectuating the provisions of
this act. Expenditures from the fund shall be made upon warrants
issued by the State Treasurer against claims filed as prescribed by
law with the Director of the Office of Management and Enterprise
Services for approval and payment.
B. The monies placed in the State Infrastructure Bank Revolving
Fund shall be invested by the State Treasurer as prescribed by
Section 89.2 of Title 62 of the Oklahoma Statutes. Any interest
earned by the State Treasurer shall be deposited to the credit of
the State Infrastructure Bank Revolving Fund. Monies invested by
the State Treasurer shall be available to meet the program funding
needs established by the Department of Transportation pursuant to
this act.
Status: in_force · Read it on the official government site
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