Okla. Stat. tit. 70, § 70-3980.12

issuance of obligations - Authorized projects.

Oklahoma Statutes - Title 70. Schools Page 1608

A. For the purpose of paying the costs for acquisition,

reimbursement and construction of real and personal property and

making repairs, refurbishments and improvements to real and personal

property, and providing funding for the herein enumerated capital

projects at institutions of higher education which are part of The

Oklahoma State System of Higher Education and for the purpose

authorized in subsection B of this section, the Oklahoma Capitol

Improvement Authority is hereby authorized to borrow monies on the

credit of the income and revenues to be derived from the leasing of

such real and personal property and improvements and, in

anticipation of the collection of such income and revenues, to issue

negotiable obligations in a total amount sufficient, after deduction

of costs of issuance, reserves and cost of any credit enhancement,

to generate Four Hundred Seventy-five Million Dollars

($475,000,000.00) in net proceeds to be expended on the projects

enumerated herein whether issued in one or more series. Insofar as

not in conflict with the provisions of this section, the provisions

of Section 151 et seq. of Title 73 of the Oklahoma Statutes shall

apply to the obligations issued under this section by the Oklahoma

Capitol Improvement Authority. It is the intent of the Legislature

to appropriate to the Oklahoma State Regents for Higher Education

for allocation to the various institutions enumerated herein from

the Oklahoma Education Lottery Trust Fund and from such other

sources as may be necessary sufficient monies to make rental

payments for the purposes of retiring the obligations created

pursuant to this section. Bonds issued pursuant to this section

shall be used for financing for the following projects in the

indicated amounts:

1. Projects at the University of Oklahoma of approximately One

Hundred Eight Million One Hundred Eighty Thousand Nine Hundred

Fifty-six Dollars ($108,180,956.00) to include:

a. construction of a chemistry and biochemistry teaching

and research-laboratory complex,

b. installation of fire detection and suppression systems

in library areas,

c. classroom renovation and improvements,

d. construction of library and learning center facilities

and parking structure at the OU-Tulsa campus,

e. construction of a College of Allied Health Phase II

Building and parking structure,

f. infrastructure improvements for the University

Research Campus,

g. construction of new engineering and technology

facilities,

h. construction of a student learning center for

University College,

i. renovation and expansion of Gould Hall,

Oklahoma Statutes - Title 70. Schools Page 1609

j. renovation of Hester Hall,

k. renovation of Rhyne Hall,

l. renovation of Science Hall,

m. completion of construction of weather center,

n. renovation of Ellison Hall,

o. construction of a cancer center,

p. construction of a speech and hearing facility, and

q. renovation of Schusterman Center at OU-Tulsa;

2. Projects at the Oklahoma State University of approximately

Seventy-six Million One Hundred Sixty-eight Thousand Two Hundred

Sixty-two Dollars ($76,168,262.00) to include:

a. construction of a new science and technology research

center and renovation of existing research laboratory

and office space,

b. restoration and renovation of South Murray Hall, and

c. construction of a new classroom building;

3. Projects at Oklahoma State University Institute of

Technology-Okmulgee of approximately Six Million Four Hundred Sixty-

two Thousand Three Hundred Seventy Dollars ($6,462,370.00) to

include:

a. creation of a rural health science and technology

center,

b. renovation and expansion of culinary facility, and

c. resurfacing of campus streets and parking lots;

4. Projects at the OSU College of Veterinary Medicine of

approximately One Million One Hundred Seven Thousand Eight Hundred
Six Million Four Hundred Sixty-

two Thousand Three Hundred Seventy Dollars ($6,462,370.00) to

include:

a. creation of a rural health science and technology

center,

b. renovation and expansion of culinary facility, and

c. resurfacing of campus streets and parking lots;

4. Projects at the OSU College of Veterinary Medicine of

approximately One Million One Hundred Seven Thousand Eight Hundred

Thirty-five Dollars ($1,107,835.00) to include:

a. renovation of McElroy Hall, and

b. renovation of Boren Veterinary Teaching Hospital;

5. Projects at OSU-Oklahoma City of approximately Seven Million

Three Hundred Eighty-five Thousand Five Hundred Sixty-six Dollars

($7,385,566.00) to include:

a. construction of an addition to the agriculture

resource center,

b. construction of a physical plant building,

c. acquisition of real property within existing campus

area, and

d. construction of a public safety training facility;

6. Projects at the OSU-Center for Health Science of

approximately Four Million Sixty-two Thousand Sixty-one Dollars

($4,062,061.00) to include renovation of existing facilities;

7. Projects at OSU-Tulsa of approximately Twelve Million Nine

Hundred Ninety-four Thousand Eight Hundred Sixty-two Dollars

($12,994,862.00) to include construction of an advanced technology

research center;

Oklahoma Statutes - Title 70. Schools Page 1610

8. Projects at the University of Central Oklahoma of

approximately Nineteen Million Six Hundred Ninety-five Thousand

Three Hundred Twenty-nine Dollars ($19,695,329.00) to include:

a. renovation of Old North Building,

b. construction of a new classroom building, and

c. construction of a forensic science building;

9. Projects at East Central University of approximately Ten

Million Eight Hundred Ten Thousand One Hundred Eighty-two Dollars

($10,810,182.00) to include:

a. construction of a fine arts center, and

b. construction of a criminal justice skills training

center;

10. Projects at Northeastern State University of approximately

Twenty-two Million Nine Hundred Seventy-two Thousand Seven Hundred

Sixty Dollars ($22,972,760.00) to include:

a. renovation of the Science Building,

b. renovation and repair of classroom buildings,

c. renovation of the Industrial Arts Building, and

d. completion of construction on classrooms, other

buildings and parking lots at the Broken Arrow campus;

11. Projects at Northwestern Oklahoma State University of

approximately Six Million Eight Hundred Thirteen Thousand Four

Hundred Thirty-two Dollars ($6,813,432.00) to include:

a. construction of Education Building,

b. renovation of Science Building and upgrading of

science equipment, and

c. renovation of the Health and Physical Education

Building;

12. Projects at Rogers State University of approximately

Thirteen Million Nine Hundred Twenty-two Thousand Seven Hundred Two

Dollars ($13,922,702.00) to include:

a. construction and renovation of classrooms and other

buildings at the Bartlesville campus,

b. construction and furnishing of a classroom building

and parking lot,

c. general infrastructure upgrades and improvements,

d. expansion and renovation of Thunderbird and Post Hall,

including furnishings and parking lot improvements,

e. construction of a building and parking lot at the

Pryor Campus, and

f. renovation and repairs to other buildings on campus;

13. Projects at Southeastern Oklahoma State University of

approximately Ten Million Sixty-two Thousand Seven Hundred Fifty-

eight Dollars ($10,062,758.00) to include:

a. renovation of the Aviation Science Building,

b. installation of an ADA elevator within the athletic

facility,

Oklahoma Statutes - Title 70. Schools Page 1611

c. construction and renovation of classrooms,

d. renovation and construction of Academic Support

Services Building,

e. improvements to the Administration Building,

f. renovation of the Theatre Building,

g. renovation of the Science Building, and
f the Aviation Science Building,

b. installation of an ADA elevator within the athletic

facility,

Oklahoma Statutes - Title 70. Schools Page 1611

c. construction and renovation of classrooms,

d. renovation and construction of Academic Support

Services Building,

e. improvements to the Administration Building,

f. renovation of the Theatre Building,

g. renovation of the Science Building, and

h. renovation of the Morrison Building;

14. Projects at Southwestern Oklahoma State University of

approximately Twelve Million Three Thousand Sixty-five Dollars

($12,003,065.00) to include:

a. renovation of the Chemistry, Pharmacy and Physics

Building,

b. renovation of existing theatre and construction of new

theatre,

c. upgrade of instructional equipment and elevators,

d. energy efficiency improvements for various buildings,

e. renovation and improvements to buildings on the Sayre

campus,

f. construction of outdoor classroom area, relocation of

university observatory and other improvements,

g. renovation of the Art Building, and

h. renovation and addition to the Industrial Technology

and Engineering Building;

15. Projects at Cameron University of approximately Twelve

Million Fifty-nine Thousand Two Hundred Forty-seven Dollars

($12,059,247.00) to include:

a. either construction or renovation and expansion of

Business Building,

b. improvements to the Shepler Center and the Fitness

Center,

c. improvements on campus-wide scale needed to achieve

ADA compliance,

d. improvements to parking areas and access roads,

e. improvements to campus buildings, and

f. improvements to gymnasium;

16. Projects at Langston University of approximately Eighteen

Million Three Hundred Seventy Thousand One Hundred Eighty-seven

Dollars ($18,370,187.00) to include:

a. construction of a Student Success Center,

b. renovation and construction of the Allied Health

Complex,

c. construction of a Performing Arts Center, and

d. construction of an Oklahoma African-American Museum;

17. Projects at Oklahoma Panhandle State University of

approximately Seven Million Two Hundred Eighty Thousand Dollars

($7,280,000.00) to include:

Oklahoma Statutes - Title 70. Schools Page 1612

a. construction of a science and agriculture building,

and

b. construction of the Noble Activity and Cultural

Center;

18. Projects at the University of Science and Arts of Oklahoma

of approximately Six Million Sixty-eight Thousand Eight Hundred

Thirty-two Dollars ($6,068,832.00) to include:

a. renovation of Canning Hall,

b. improvements to parking areas and roofing of various

buildings,

c. renovation of performing arts and academic lecture

venues,

d. renovation of art annex, and

e. acquisition of classroom, laboratory and library

equipment;

19. Projects at Carl Albert State College of approximately

Eight Million Six Hundred Forty-seven Thousand Six Hundred One

Dollars ($8,647,601.00) to include:

a. construction of a new classroom building and parking

lot,

b. construction of CASC Sallisaw Classroom and Library,

c. renovation and expansion of Joe E. White Library, and

d. renovation and expansion of the Mick Thompson

Convocational Center;

20. Projects at Connors State College of approximately Seven

Million Twenty-five Thousand Dollars ($7,025,000.00) to include:

a. renovation of the Classroom Building, Library and

Education Buildings,

b. renovation of the Fine Arts Building,

c. renovation of a building to become one-stop enrollment

center,

d. renovation and addition to Haskell Building on

Muskogee campus, and

e. renovation and expansion of existing buildings for the

expansion of Allied Health and Technical programs;

21. Projects at Eastern Oklahoma State College of approximately

Seven Million Nine Hundred Ten Thousand One Hundred One Dollars

($7,910,101.00) to include:

a. construction of a student life and learning center,

b. repair and improvements to various campus facilities,

and

c. campus-wide software replacement;
on of existing buildings for the

expansion of Allied Health and Technical programs;

21. Projects at Eastern Oklahoma State College of approximately

Seven Million Nine Hundred Ten Thousand One Hundred One Dollars

($7,910,101.00) to include:

a. construction of a student life and learning center,

b. repair and improvements to various campus facilities,

and

c. campus-wide software replacement;

22. Projects at Murray State College of approximately Seven

Million Twenty-five Thousand Dollars ($7,025,000.00) to include:

a. renovation and improvements to various campus

facilities,

Oklahoma Statutes - Title 70. Schools Page 1613

b. construction of a building for customer service and

laboratory facilities,

c. construction of a maintenance building,

d. landscaping and parking and street improvements,

e. acquisition of technology equipment, and

f. acquisition of equipment to address instructional

needs and campus security and safety issues;

23. Projects at Northern Oklahoma College of approximately

Fourteen Million Two Hundred Ninety-three Thousand Two Hundred

Thirty-five Dollars ($14,293,235.00) to include:

a. renovation and repair of buildings, parking areas and

infrastructure on Enid campus,

b. renovation of and furnishing and equipment for Wilkin

Hall,

c. construction of Allied Health and Educational

Communication Center,

d. renovation and expansion of the Vineyard Library

Administration Building, and

e. construction in conjunction with OSU of a new

classroom building in Stillwater;

24. Projects at Northeastern Oklahoma A&M College of

approximately Six Million Dollars ($6,000,000.00) to include:

a. renovation, expansion and equipment for Health Science

Building,

b. renovation of Commons Hall, and

c. renovation and restoration of Science Building;

25. Projects at Oklahoma City Community College of

approximately Fifteen Million Three Hundred Thirty-five Thousand One

Hundred One Dollars ($15,335,101.00) to include:

a. construction of the Arts Education Center, and

b. expansion of the Health Professions Education Center;

26. Projects at Redlands Community College of approximately Six

Million Seven Hundred Seventy Thousand Dollars ($6,770,000.00) to

include:

a. construction of the Darlington Agricultural Center,

b. construction of a health, math and science facility,

c. renovation and automation of library,

d. acquisition of real property for Darlington Production

facility,

e. construction of facility to house International and

Entrepreneurship Business Institute, and

f. infrastructure improvements and upgrades;

27. Projects at Rose State College of approximately Eleven

Million Seven Hundred Seventy-five Thousand Dollars ($11,775,000.00)

to include construction of a Health Sciences Center;

Oklahoma Statutes - Title 70. Schools Page 1614

28. Projects at Seminole State College of approximately Six

Million Seven Hundred Fifty Thousand Dollars ($6,750,000.00) to

include:

a. construction of a wellness and athletic training

facility,

b. renovation and equipment acquisition necessary to

accommodate persons with disabilities,

c. acquisition and improvement of computer network

equipment,

d. renovation and expansion of facilities to develop a

student success center,

e. construction of maintenance building and affiliated

roads and parking,

f. acquisition of building for office space and storage,

and

g. construction and expansion of roads and parking

facilities;

29. Projects at Tulsa Community College of approximately

Sixteen Million Twenty-five Thousand Dollars ($16,025,000.00) to

include:

a. construction of a distance learning center, and

b. construction of a math and science building;

30. Projects at Western Oklahoma State College of approximately

Six Million Dollars ($6,000,000.00) to include:

a. construction of a cooperative higher education and

training center,

b. construction and repair of parking lots, roads and

walkways, and
sand Dollars ($16,025,000.00) to

include:

a. construction of a distance learning center, and

b. construction of a math and science building;

30. Projects at Western Oklahoma State College of approximately

Six Million Dollars ($6,000,000.00) to include:

a. construction of a cooperative higher education and

training center,

b. construction and repair of parking lots, roads and

walkways, and

c. acquisition of software and information technology

equipment;

31. Projects at the University Center of Southern Oklahoma of

approximately Six Hundred Thousand Dollars ($600,000.00) to include:

construction of classrooms in a new facility;

32. Projects at the McCurtain County Higher Education Center of

approximately Six Hundred Thousand Dollars ($600,000.00) to include

renovation and expansion of chemistry laboratory and classroom and

acquisition of equipment;

33. Projects at the Quartz Mountain Arts and Conference Center

of approximately Three Million One Hundred Seventy-three Thousand

Five Hundred Fifty-six Dollars ($3,173,556.00) to include:

a. renovation and remediation of lodge, walkways, parking

lots and sidewalks,

b. construction of a student dormitory and family reunion

center,

c. repair and renovation of Performing Arts Hall and Arts

Pavilions,

Oklahoma Statutes - Title 70. Schools Page 1615

d. completion of construction of a comprehensive

pedestrian trail system,

e. improvements and upgrades of infrastructure, and

f. improvement and acquisition of land; and

34. Projects for the Oklahoma Climatological Survey of

approximately Six Hundred Fifty Thousand Dollars ($650,000.00) to

include acquisition and installation of equipment for the Oklahoma

Mesonet to monitor atmospheric conditions in and around Oklahoma

City.

B. To the extent funds are available from the proceeds of the

borrowing authorized by subsection A of this section, the Oklahoma

Capitol Improvement Authority shall provide for the payment of

professional fees and associated costs related to the projects

authorized in subsection A of this section.

C. The Oklahoma Capitol Improvement Authority may issue

obligations in one or more series and in conjunction with other

issues of the Oklahoma Capitol Improvement Authority. The Oklahoma

Capitol Improvement Authority may issue short-term obligations in

anticipation of the sale of the bonds authorized by this section and

enter into such liquidity and other agreements as may be necessary

to provide for the efficient financing of the projects. The

Oklahoma Capitol Improvement Authority is authorized to hire bond

counsel, financial consultants, and such other professionals as it

may deem necessary to provide for the efficient sale of the

obligations and may utilize a portion of the proceeds of any

borrowing to create such reserves as may be deemed necessary and to

pay costs associated with the issuance and administration of such

obligations.

D. The obligations authorized under this section may be sold at

either competitive or negotiated sale, as determined by the Oklahoma

Capitol Improvement Authority, and in such form and at such prices

and bearing interest at a fixed or variable rate as may be

authorized by the Oklahoma Capitol Improvement Authority. The

Oklahoma Capitol Improvement Authority may enter into agreements

with such credit enhancers and liquidity providers as may be

determined necessary to efficiently market the obligations. The

obligations may mature and have such provisions for redemption as

shall be determined by the Oklahoma Capitol Improvement Authority.

E. Any interest earnings on funds or accounts created for the

purposes of this section may be utilized as partial payment of the

annual debt service or for the purposes directed by the Oklahoma

Capitol Improvement Authority. The interest earnings in the

construction funds created pursuant to this section shall be used by

the Oklahoma Capitol Improvement Authority for the projects
Authority.

E. Any interest earnings on funds or accounts created for the

purposes of this section may be utilized as partial payment of the

annual debt service or for the purposes directed by the Oklahoma

Capitol Improvement Authority. The interest earnings in the

construction funds created pursuant to this section shall be used by

the Oklahoma Capitol Improvement Authority for the projects

enumerated herein.

F. The obligations issued under this section, the transfer

thereof and the interest earned on such obligations, including any

Oklahoma Statutes - Title 70. Schools Page 1616

profit derived from the sale thereof, shall not be subject to

taxation of any kind by the State of Oklahoma, or by any county,

municipality or political subdivision therein.

G. The Oklahoma Capitol Improvement Authority may direct the

investment of all monies in any funds or accounts created in

connection with the offering of the obligations authorized under

this section. Such investments shall be made in a manner consistent

with the investment guidelines of the State Treasurer. The Oklahoma

Capitol Improvement Authority may place additional restrictions on

the investment of such monies if necessary to enhance the

marketability of the obligations.

H. The Oklahoma Capitol Improvement Authority is authorized to

issue bonds, notes, or other obligations for the purpose of

refinancing or restructuring obligations issued pursuant to this

section. To the extent funds are available from the proceeds of the

borrowing authorized by this subsection, the Oklahoma Capitol

Improvement Authority shall provide for the payment of professional

fees and associated costs approved by the Oklahoma State Bond

Advisor. The Oklahoma Capitol Improvement Authority is authorized

to hire bond counsel, financial consultants, and such other

professionals as may be deemed necessary to provide for the

efficient sale of the obligations and may utilize a portion of the

proceeds of any borrowing to create such reserves as may be deemed

necessary and to pay costs associated with the issuance and

administration of such obligations. An issuance of bonds under this

subsection may be undertaken to achieve an overall debt service

savings, modify restrictive bond document covenants, or reduce

payment requirements during periods of fiscal stress. To achieve

these objectives, the Oklahoma Capitol Improvement Authority is

authorized to extend the final maturity of outstanding obligations

if necessary, but in no event shall the final maturity of an

individual bond issue be extended more than ten (10) years without

the approval of the Council of Bond Oversight. The obligations

authorized under this subsection may be sold at either competitive

or negotiated sale, as determined by the Oklahoma Capitol

Improvement Authority, and in such form and at such prices as may be

authorized by the Oklahoma Capitol Improvement Authority. The

Oklahoma Capitol Improvement Authority may issue obligations in one

or more series and may set such other terms and conditions as may be

necessary in its judgment to achieve an efficient refinancing. The

Oklahoma Capitol Improvement Authority may enter into agreements

with such credit enhancers and liquidity providers as may be

determined necessary to efficiently market the obligations,

including the purchase of surety policies or other financial

instruments to be utilized in lieu of reserve funds. The

obligations may mature and have such provisions for redemption as

shall be determined by the Oklahoma Capitol Improvement Authority.

Oklahoma Statutes - Title 70. Schools Page 1617

The Oklahoma Capitol Improvement Authority is hereby specifically

authorized to purchase surety policies or other financial

instruments to replace existing debt service reserves. Any payment

for such policies or other instruments may be made from the cash

reserves being replaced or any other legally available source.
itol Improvement Authority.

Oklahoma Statutes - Title 70. Schools Page 1617

The Oklahoma Capitol Improvement Authority is hereby specifically

authorized to purchase surety policies or other financial

instruments to replace existing debt service reserves. Any payment

for such policies or other instruments may be made from the cash

reserves being replaced or any other legally available source.

I. Bonds issued pursuant to this section shall not be subject

to the provisions of Section 3980.4 of this title.