Okla. Stat. tit. 62, § 62-891.2: Purpose of act

The Legislature finds investments for the purpose of economic

development of the State of Oklahoma, including but not limited to

authorized economic development projects for the purpose of

attracting private investment and job creation, public

infrastructure to aid development such as roads, bridges, water

treatment, water storage and water delivery facilities, surface

water management assets, sanitary sewer facilities and related

assets, and other assets owned or maintained by the counties, cities

and towns of the state are essential to a safe and productive

environment for the residents of the state and visitors to the

state. The Legislature further finds that existing fiscal resources

at the local government level are not always sufficient to maintain

the highest possible standards of safety or quality and that it is

an essential function of state government to ensure that critical

infrastructure is constructed, maintained and repaired in conformity

with such highest possible standards. The Legislature finds that

encouraging local governments to cooperate to develop regional

infrastructure and economic development projects will most

economically and efficiently serve the needs of the state’s

citizens. The Legislature finds that the methods of public finance

provided for in the Oklahoma Community Economic Development Pooled

Finance Act are in furtherance of an essential public and state

governmental function.