Okla. Stat. tit. 73, § 73-182
This is the official text of Okla. Stat. tit. 73, § 73-182, part of Oklahoma’s Stat. tit. 73, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 73,." Browse the sections below, each linked to its official government source.
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Food Processing Center at Oklahoma State University
Official statutory text
A. The Oklahoma Capitol Improvement Authority may provide for
the funding for equipment and furnishings for properties and
facilities located in the Food Processing Center located at Oklahoma
State University in Stillwater, Oklahoma, and may hold title to or a
leasehold interest in the equipment and furnishings until such time
as the indebtedness created pursuant to this section shall be
retired or defeased. Upon the retirement of the indebtedness
created pursuant to this section, the title to the equipment and
furnishings shall be transferred from the Oklahoma Capitol
Improvement Authority to Oklahoma State University.
B. For the purpose of paying the costs of the projects
authorized in subsection A 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 the equipment and furnishings and,
in anticipation of the collection of such income and revenues, to
issue negotiable or competitive bonds not to exceed the sum of Two
Million One Hundred Twenty-five Thousand Dollars ($2,125,000.00) as
may be determined by the Authority. The maximum term for such bonds
shall be five (5) years. It is the intent of the Legislature that
Oklahoma State University establish fees to offset the costs of the
projects authorized in subsection A of this section. It is the
intent of the Legislature to appropriate to the Oklahoma State
Regents for Higher Education sufficient monies to make lease
payments to the Authority for purposes of retiring the debt created
pursuant to this section.
C. The Authority may issue the bonds in one or more series and
in conjunction with other issues of the Authority.
D. Insofar as they are 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 this section.
E. All interest earned on any reserve funds created by such
bonds held by the State Treasurer, as collected, shall be paid into
the General Revenue Fund.
the funding for equipment and furnishings for properties and
facilities located in the Food Processing Center located at Oklahoma
State University in Stillwater, Oklahoma, and may hold title to or a
leasehold interest in the equipment and furnishings until such time
as the indebtedness created pursuant to this section shall be
retired or defeased. Upon the retirement of the indebtedness
created pursuant to this section, the title to the equipment and
furnishings shall be transferred from the Oklahoma Capitol
Improvement Authority to Oklahoma State University.
B. For the purpose of paying the costs of the projects
authorized in subsection A 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 the equipment and furnishings and,
in anticipation of the collection of such income and revenues, to
issue negotiable or competitive bonds not to exceed the sum of Two
Million One Hundred Twenty-five Thousand Dollars ($2,125,000.00) as
may be determined by the Authority. The maximum term for such bonds
shall be five (5) years. It is the intent of the Legislature that
Oklahoma State University establish fees to offset the costs of the
projects authorized in subsection A of this section. It is the
intent of the Legislature to appropriate to the Oklahoma State
Regents for Higher Education sufficient monies to make lease
payments to the Authority for purposes of retiring the debt created
pursuant to this section.
C. The Authority may issue the bonds in one or more series and
in conjunction with other issues of the Authority.
D. Insofar as they are 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 this section.
E. All interest earned on any reserve funds created by such
bonds held by the State Treasurer, as collected, shall be paid into
the General Revenue Fund.
Status: in_force · Read it on the official government site
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