Okla. Stat. tit. 62, § 62-695.22: Formula and procedures adopted for issuance of private

activity bonds.

Pursuant to the provisions of the Federal Tax Reform Act of 1986

(26 U.S.C., Section 1 et seq.), as amended, under which a ceiling is

established on the amount of private activity bonds which may be

issued in a state during any calendar year, the following formula

and procedures are hereby adopted for the issuance of private

activity bonds for the purpose of promoting employment, economic

development, assuring the general health, safety and welfare of the

citizens and residents of the state and otherwise lessening the

burdens of government.