Okla. Stat. tit. 69, § 69-408
This is the official text of Okla. Stat. tit. 69, § 69-408, 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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Additional powers and duties of Department -
Official statutory text
Administration of monies - Establishment of accounts and
subaccounts.
In addition to the other powers and duties provided by law, the
Oklahoma Department of Transportation shall have the power and duty
to:
Oklahoma Statutes - Title 69. Roads, Bridges, and Ferries Page 52
1. Manage, maintain, expend and otherwise administer monies in
the State Infrastructure Bank Revolving Fund and any accounts or
subaccounts in the Fund, pursuant to the provisions of this act.
The Department shall manage the Fund so as to make available the
amounts necessary to fund loans to the eligible entities entitled to
receive funding pursuant to the provisions of this act;
2. Establish separate accounts and subaccounts within the State
Infrastructure Bank and provide that such accounts be segregated and
used for specified purposes or held as security for designated
obligations; and
3. Enter into binding loan agreements with the eligible
entities as specified by the Department.
subaccounts.
In addition to the other powers and duties provided by law, the
Oklahoma Department of Transportation shall have the power and duty
to:
Oklahoma Statutes - Title 69. Roads, Bridges, and Ferries Page 52
1. Manage, maintain, expend and otherwise administer monies in
the State Infrastructure Bank Revolving Fund and any accounts or
subaccounts in the Fund, pursuant to the provisions of this act.
The Department shall manage the Fund so as to make available the
amounts necessary to fund loans to the eligible entities entitled to
receive funding pursuant to the provisions of this act;
2. Establish separate accounts and subaccounts within the State
Infrastructure Bank and provide that such accounts be segregated and
used for specified purposes or held as security for designated
obligations; and
3. Enter into binding loan agreements with the eligible
entities as specified by the Department.
Status: in_force · Read it on the official government site
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