Okla. Stat. tit. 73, § 73-168.7

A. The Oklahoma Capitol Improvement Authority is authorized to

acquire the real property located at 6600 North Harvey, Building No.

6, Oklahoma City, Oklahoma County, Oklahoma, together with

improvements located thereon, or other suitable property in Oklahoma

City, Oklahoma, for purposes of providing office space to the

Oklahoma State Bureau of Investigation for headquarters and central

Oklahoma operations. The Authority may hold title to the real

property and improvements until such time as any obligations issued

for this purpose are retired or defeased and may lease the real

property and improvements to the Oklahoma State Bureau of

Investigation. Upon final redemption or defeasance of the

obligations created pursuant to this section, title to the real

property and improvements shall be transferred from the Oklahoma

Capitol Improvement Authority, to the Oklahoma State Bureau of

Investigation.

B. For the purpose of paying the costs for acquisition of the

real property and improvements authorized in subsection A of this

section, and for the purpose authorized in subsection C of this

section, the Authority is hereby authorized to borrow monies on the

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

such real property and improvements and, in anticipation of the

collection of such income and revenues, to issue negotiable

obligations in an amount not to exceed Five Million Dollars

($5,000,000.00). It is the intent of the Legislature to appropriate

to the Oklahoma State Bureau of Investigation sufficient monies to

make rental payments for the purposes of retiring the obligations

created pursuant to this section. The costs for acquisition of the

real property and improvements authorized in subsection A of this

section shall not exceed Four Million Dollars ($4,000,000.00) if the

property located at 6600 N. Harvey, Building No. 6 in Oklahoma City,

Oklahoma, is acquired or Five Million Dollars ($5,000,000.00) if

other suitable property is acquired. The costs for acquisition of

the real property and improvements authorized in subsection A of

this section shall not exceed the fair market value of the property

as determined by the Office of Management and Enterprise Services.

In determining the fair market value of such property the Office of

Management and Enterprise Services may consider factors such as

relocation costs. The Office of Management and Enterprise Services

is authorized to conduct an appraisal of any property which may be

acquired pursuant to this section or to contract with others for

such appraisal or appraisals as may be necessary. In the event the

Authority leases any part of the real property acquired pursuant to

subsection A of this section to any entity other than the Bureau,

the Authority shall require such lease to comply with such security

restrictions as may be requested by the Bureau.

Oklahoma Statutes - Title 73. State Capital and Capitol Building Page 60

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

borrowing authorized by subsection B of this section, the Oklahoma

Capitol Improvement Authority shall provide for the payment of

professional fees and associated costs approved by the Oklahoma

State Bureau of Investigation. The Bureau shall reimburse the

Office of Management and Enterprise Services for all costs incurred

by the Department in determining the fair market value of any

property pursuant to this section.

D. The Authority may issue obligations in one or more series

and in conjunction with other issues of the Authority. The

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.
of the Authority. The

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.

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

either competitive or negotiated sale, as determined by the

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

by the Authority. The 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 Authority, but in no event shall the final

maturity of such obligations occur later than thirty (30) years from

the first principal maturity date.

F. 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 Authority.

G. The obligations issued under this section, the transfer

thereof and the interest earned on such obligations, including any

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.

H. The 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 Authority may place additional restrictions on

the investment of such monies if necessary to enhance the

marketability of the obligations.