Okla. Stat. tit. 74, § 74-5102
This is the official text of Okla. Stat. tit. 74, § 74-5102, 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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Short title - Purpose - Definitions
Official statutory text
A. Sections 1 through 3 of this act shall be known and may be
cited as the “Local Development Financing Act”.
Oklahoma Statutes - Title 74. State Government Page 1179
B. The purpose of the Local Development Financing Act shall be
to augment and enhance Section 6C of Article X of the Oklahoma
Constitution by:
1. Assisting communities, especially small and rural towns and
counties, by providing a financial resource for economic development
endeavors; and
2. Creating marketability for tax apportionment financing
vehicles under the Local Development Act.
C. As used in this act:
1. “Administrator” means an organization authorized by an
issuer of a debt obligation pursuant to the Local Development Act,
which undertakes the performance of the responsibilities contained
in subsection C of Section 3 of this act; and
2. “Pooling issuer” means any state or local public entity
authorized to issue notes or bonds pursuant to the Oklahoma Statutes
for economic development financing of state industries and public
facilities.
cited as the “Local Development Financing Act”.
Oklahoma Statutes - Title 74. State Government Page 1179
B. The purpose of the Local Development Financing Act shall be
to augment and enhance Section 6C of Article X of the Oklahoma
Constitution by:
1. Assisting communities, especially small and rural towns and
counties, by providing a financial resource for economic development
endeavors; and
2. Creating marketability for tax apportionment financing
vehicles under the Local Development Act.
C. As used in this act:
1. “Administrator” means an organization authorized by an
issuer of a debt obligation pursuant to the Local Development Act,
which undertakes the performance of the responsibilities contained
in subsection C of Section 3 of this act; and
2. “Pooling issuer” means any state or local public entity
authorized to issue notes or bonds pursuant to the Oklahoma Statutes
for economic development financing of state industries and public
facilities.
Status: in_force · Read it on the official government site
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