Okla. Stat. tit. 74, § 74-5063.4h
This is the official text of Okla. Stat. tit. 74, § 74-5063.4h, 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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Debt-service reserve
Official statutory text
To establish a debt-service reserve for those revenue bonds
approved for Credit Enhancement Reserve Fund insurance by the Bond
Oversight Commissions prior to June 9, 1990, the Oklahoma
Development Finance Authority may increase the amounts of credit
enhancement, the revenue bonds and the underlying loans in an amount
sufficient to provide a cash reserve or to secure a letter of credit
or surety bond equal to six-months' principal and interest on the
Oklahoma Statutes - Title 74. State Government Page 1145
revenue bonds, plus a rounding factor if necessary. The total
amount of any such increase shall not exceed ten percent (10%) of
the revenue bond amount approved by the Commissions.
approved for Credit Enhancement Reserve Fund insurance by the Bond
Oversight Commissions prior to June 9, 1990, the Oklahoma
Development Finance Authority may increase the amounts of credit
enhancement, the revenue bonds and the underlying loans in an amount
sufficient to provide a cash reserve or to secure a letter of credit
or surety bond equal to six-months' principal and interest on the
Oklahoma Statutes - Title 74. State Government Page 1145
revenue bonds, plus a rounding factor if necessary. The total
amount of any such increase shall not exceed ten percent (10%) of
the revenue bond amount approved by the Commissions.
Status: in_force · Read it on the official government site
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