Okla. Stat. tit. 74, § 74-5063.11: General obligation bonds - Authority to issue -

Written plan for issuance.

A. The Oklahoma Development Finance Authority is hereby

authorized to issue bonds of the State of Oklahoma, to be known as

Credit Enhancement Reserve Fund General Obligation Bonds, in a total

principal amount not to exceed One Hundred Million Dollars

($100,000,000.00) for the sole purpose of generating monies to be

deposited to the Fund.

B. The Oklahoma Development Finance Authority shall not issue

Credit Enhancement Reserve Fund General Obligation Bonds unless and

until the Authority has determined that there are insufficient

monies in the Credit Enhancement Reserve Fund to cover imminent

losses on revenue bonds or other obligations insured by the Fund.

In such instances, the Authority shall, prior to the issuance of any

State of Oklahoma Credit Enhancement Reserve Fund General Obligation

Bonds, submit to the Executive Bond Oversight Commission and

Legislative Bond Oversight Commission a written plan describing the

need for the issuance of the bonds.