Okla. Stat. tit. 62, § 62-891.5: Applicability of Credit Enhancement Reserve Fund Act -

Participation in Community Economic Development Pooled Finance

Revolving Fund.

A. To the extent that the provisions of the Credit Enhancement

Reserve Fund Act are consistent with the provisions of the Oklahoma

Community Economic Development Pooled Finance Act, the provisions of

the Credit Enhancement Reserve Fund Act shall be applicable to a

pooled financing.

B. The Credit Enhancement Reserve Fund shall not be utilized in

support of any pooled financing obligations issued pursuant to this

act prior to the full use of any revenues committed to the repayment

of any such obligations pursuant to an agreement or agreements among

the participating local government entities or for-profit business

entity for the repayment of principal, interest and other costs of

the pooled financing.

C. Agreements entered into pursuant to this act may provide for

one or more of the participating local government entities to make

deposits in the Community Economic Development Pooled Finance

Revolving Fund in excess of the amount originally provided for in

any agreement authorized by this act in order to compensate for the

payments otherwise required to be made by any other participating

local government entity which is a party to the same agreement.

D. If any participating local government entity does not make

deposits in the Community Economic Development Pooled Finance

Revolving Fund as originally required by an agreement authorized by

this act, such local government entity shall be required to

compensate the other participating local government entity or

entities pursuant to the terms of the agreement for the amounts paid

on its behalf, including interest.

E. Any local government entity that does not make deposits in

the Community Economic Development Pooled Finance Revolving Fund

according to the terms of an agreement authorized by this act shall

be prohibited from participation in any other pooled financing

otherwise authorized by this act for a period of five (5) years from

the date of the first date upon which a required deposit to the

Community Economic Development Pooled Finance Revolving Fund is not

made or for a period of five (5) years from the first date upon

which a payment is made on a timely basis, but for less than the

amount required pursuant to the terms of an agreement authorized

pursuant to this act.