Okla. Stat. tit. 74, § 74-5063.11
This is the official text of Okla. Stat. tit. 74, § 74-5063.11, part of Oklahoma’s Stat. tit. 74, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 74,." Browse the sections below, each linked to its official government source.
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General obligation bonds - Authority to issue -
Official statutory text
Written plan for issuance.
A. The Oklahoma Development Finance Authority is hereby
authorized to issue bonds of the State of Oklahoma, to be known as
Credit Enhancement Reserve Fund General Obligation Bonds, in a total
principal amount not to exceed One Hundred Million Dollars
($100,000,000.00) for the sole purpose of generating monies to be
deposited to the Fund.
B. The Oklahoma Development Finance Authority shall not issue
Credit Enhancement Reserve Fund General Obligation Bonds unless and
until the Authority has determined that there are insufficient
monies in the Credit Enhancement Reserve Fund to cover imminent
losses on revenue bonds or other obligations insured by the Fund.
In such instances, the Authority shall, prior to the issuance of any
State of Oklahoma Credit Enhancement Reserve Fund General Obligation
Bonds, submit to the Executive Bond Oversight Commission and
Legislative Bond Oversight Commission a written plan describing the
need for the issuance of the bonds.
A. The Oklahoma Development Finance Authority is hereby
authorized to issue bonds of the State of Oklahoma, to be known as
Credit Enhancement Reserve Fund General Obligation Bonds, in a total
principal amount not to exceed One Hundred Million Dollars
($100,000,000.00) for the sole purpose of generating monies to be
deposited to the Fund.
B. The Oklahoma Development Finance Authority shall not issue
Credit Enhancement Reserve Fund General Obligation Bonds unless and
until the Authority has determined that there are insufficient
monies in the Credit Enhancement Reserve Fund to cover imminent
losses on revenue bonds or other obligations insured by the Fund.
In such instances, the Authority shall, prior to the issuance of any
State of Oklahoma Credit Enhancement Reserve Fund General Obligation
Bonds, submit to the Executive Bond Oversight Commission and
Legislative Bond Oversight Commission a written plan describing the
need for the issuance of the bonds.
Status: in_force · Read it on the official government site
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