Okla. Stat. tit. 73, § 73-345

State Capitol Repair Expenditure Oversight Committee

A. In addition to any other authorization provided by law, the

Oklahoma Capitol Improvement Authority is authorized to issue

obligations to acquire real property, together with improvements

located thereon, and personal property to construct improvements to

real property and to provide funding for repairs, refurbishments and

improvements to real and personal property of the State Capitol

Building in a total amount not to exceed One Hundred Twenty Million

Dollars ($120,000,000.00). The funds shall be used for the

renovation, repair and remodeling of the State Capitol Building.

B. The Authority may hold title to the property and

improvements until such time as any obligations issued for this

purpose are retired or defeased and may lease the property and

improvements to the Office of Management and Enterprise Services.

Upon final redemption or defeasance of the obligations created

pursuant to this section, title to the property and improvements

shall be transferred from the Oklahoma Capitol Improvement Authority

to the Office of Management and Enterprise Services.

C. For the purposes of paying the costs for construction of the

real property and improvements, and providing funding for the

project authorized in subsection A of this section, and for the

purpose authorized in subsection D 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 property and

improvements and, in anticipation of the collection of such income

and revenues, to issue negotiable obligations in a total amount not

Oklahoma Statutes - Title 73. State Capital and Capitol Building Page 141

to exceed One Hundred Twenty Million Dollars ($120,000,000.00)

whether issued in one or more series. The Authority is authorized

to capitalize interest on the obligations issued pursuant to this

section for a period of not to exceed one (1) year from the date of

issuance. For subsequent fiscal years, it is the intent of the

Legislature to appropriate to the Office of Management and

Enterprise Services sufficient monies to make rental payments for

the purpose of retiring the obligations created 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 related to the project authorized in

subsection A of 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.

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 ten (10) 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
ority, but in no event shall the final

maturity of such obligations occur later than ten (10) 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.

Oklahoma Statutes - Title 73. State Capital and Capitol Building Page 142

I. There is hereby created a State Capitol Repair Expenditure

Oversight Committee. The proceeds from the sale of obligations

issued pursuant to the provisions of this section and Section 1 of

Enrolled House Bill No. 3168 of the 2nd Session of the 55th Oklahoma

Legislature that are needed for repairs to the interior and exterior

of the State Capitol shall be subject to the approval of the State

Capitol Repair Expenditure Oversight Committee; provided, however,

the expenditure of those proceeds shall be subject to a request for

proposal process.

The Committee shall be composed of nine (9) members as follows:

1. Three persons to be appointed by the Governor, one of whom

shall serve as chair of the Committee;

2. Three legislators to be appointed by the Speaker of the

House of Representatives, two of whom shall be members of the

majority political party and one of whom shall be a member of the

minority political party; and

3. Three legislators to be appointed by the President Pro

Tempore of the Senate, two of whom shall be members of the majority

political party and one of whom shall be a member of the minority

political party. Five members of the Committee shall constitute a

quorum and the vote of five members shall be necessary for any

action taken by the Committee. The Committee shall be staffed by

employees of the Office of Management and Enterprise Services. The

Committee shall be subject to the Oklahoma Open Meeting Act.

J. The Committee shall deliver a preliminary plan for the

renovation, repair and remodeling of the State Capitol to the

Director of the Office of Management and Enterprise Services no

later than December 31, 2014. The preliminary plan shall include

the following components:

1. Establishment of the Office of Management and Enterprise

Services' goal and criteria for use by the vendor; and

2. Selection criteria for the design-build team vendor to be

selected through a Request For Proposal process.

K. Following receipt of the preliminary plan as approved by the

Committee, the Office of Management and Enterprise Services shall

solicit Requests For Proposals to select the vendor for the project.

L. The Committee shall deliver a final plan to the Director of

the Office of Management and Enterprise Services no later than June

30, 2015. The final plan shall include the following components:

1. Approval of the final scope of work developed by the vendor;

and

2. Approval of the project phasing developed by the vendor.

M. Following delivery of the final plan, the Committee shall

continue to oversee the expenditure of proceeds from the sale of

obligations issued pursuant to the provisions of this section and

Section 1 of Enrolled House Bill No. 3168 of the 2nd Session of the

55th Legislature, until completion of the renovation, repair and
dor;

and

2. Approval of the project phasing developed by the vendor.

M. Following delivery of the final plan, the Committee shall

continue to oversee the expenditure of proceeds from the sale of

obligations issued pursuant to the provisions of this section and

Section 1 of Enrolled House Bill No. 3168 of the 2nd Session of the

55th Legislature, until completion of the renovation, repair and

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remodeling of the State Capitol. The Committee may also propose and

approve amendments to the plan as it deems appropriate.

N. The Director of the Office of Management and Enterprise

Services shall have responsibility to substantially implement the

plan as presented by the Committee; provided, the President Pro

Tempore of the Senate or the Speaker of the House of Representatives

shall approve all proposed designs related to renovation, repair and

remodeling of space within the State Capitol Building under the

management and control of the Legislature and allocated to that

officer's house of the Legislature pursuant to the provisions of

Section 15.1 of this title, and any subsequent changes to such

plans. Joint approval of the President Pro Tempore of the Senate

and the Speaker of the House of Representatives shall be required

for such plans for space under the management and control of the

Legislature and not allocated to a specific house of the

Legislature. Such approval shall be in writing.

O. Insofar as they are not in conflict with the provisions of

this section, the provisions of Section 151 et seq. of this title

shall apply to this section.