Okla. Stat. tit. 74, § 74-5062.3

Public policy.

A. The mission of the Oklahoma Development Finance Authority

shall be to take into account and develop its policies based upon

the following findings:

1. Fundamental changes have occurred in national and

international markets for goods and services produced by the

citizens of this state. These changes have created an economic

hardship for this state as manifested by the increasing number of

business failures and bankruptcies, both personal and corporate, and

the high levels of unemployment in agricultural and industrial

enterprises;

2. There exists a need to improve, repair, replace and expand

the infrastructure of the state and its political subdivisions,

which is vital to the health, safety and welfare of the citizens of

the state as well as to economic growth and development; and

3. Structural changes in global capital markets and real goods

markets have had a strong impact on the availability of long-term

capital in this state.

B. It is hereby declared to be the public policy and

responsibility of this state to promote the health, welfare, safety

and economic security of its inhabitants through the retention of

existing employment and alleviation of unemployment in all phases of

agricultural enterprises and industrial enterprises, for the

development of reliable, affordable, efficient and environmentally

compatible sources of energy for all types of public and private

consumption, for providing health care facilities, for providing

capital improvement facilities, for providing educational facilities

for the benefit of educational institutions within the state and for

such other facilities and projects as herein provided.

C. It is hereby found that the public policies and

responsibilities of the state as set forth in this act cannot be

fully attained without the use of public financing and that such

public financing can best be provided by the creation of a state

development finance authority with comprehensive and extensive

powers therein, which authority shall have the power to issue bonds

to provide financing for qualified agricultural enterprises, capital

Oklahoma Statutes - Title 74. State Government Page 1109

improvements, educational facilities, industrial enterprises, energy

conservation facilities, energy distribution facilities, energy

generating facilities and facilities, health care facilities,

pollution control facilities, recreational facilities and waste

water facilities, and that all of the foregoing are public purposes

and uses for which public moneys may be borrowed, expended,

advanced, loaned and granted.