Okla. Stat. tit. 74, § 74-5063.4d: Limitations on principal amount of underlying loan

A. At the time of the Authority's issuance of credit

enhancement on its revenue bonds or other obligations, the principal

amount of the underlying loan for industrial, agribusiness, and

other private activity portfolio mix category and health care and

other nonprofit-owned facilities portfolio mix category financings,

excluding infrastructure and other publicly owned facilities of

government entities and Quality Jobs Investment Program portfolio

mix category financings, shall be subject to the following

limitations:

1. For costs of financing or refinancing real property,

including soft costs associated with the construction or development

of the facilities and the insurance premium, the principal amount of

the underlying loan will not exceed ninety percent (90%) of the

lower of:

a. the actual certified and documented costs of such

projects, or

b. the appraised (as built) fair market value of the real

property as indicated in an independent appraisal by

an appraiser acceptable to the Authority;

2. For costs of financing the acquisition of personal property,

machinery and equipment, the principal amount of the loan will not

exceed seventy-five percent (75%) of the actual certified or

documented installation cost, including the expense of delivery,

refurbishing and installation. The Authority may require an

independent appraisal in connection with establishing a fair market

value of such personal property and in such case, the principal

amount of the loan may not exceed seventy-five percent (75%) of the

lower of:

a. the fair market value of such personal property, or

b. its documented installed costs;

3. The principal amount of a loan, or portions thereof, secured

by accounts receivable, inventory, other current assets and other

personal property will not exceed fifty percent (50%) of the value

of the collateral as determined by the Oklahoma Development Finance

Authority; and

4. The principal amount of a loan, or portions thereof, secured

by cash or cash equivalents or by eligible investment securities

will not exceed one hundred percent (100%) of their market value.

B. The maximum amount of an insurance commitment in enhancing a

public sector entity financing or refinancing of facilities or

program participation will not exceed one hundred percent (100%) of

the entity's cost of financing, refinancing or program

participation.

C. The provisions of this section shall not apply to credit

enhancement of less than One Hundred Thousand Dollars ($100,000.00)

done pursuant to the Small Business Credit Enhancement Program.

D. Limitations on the authorized amounts as established in this

section and in Section 5063.4a of this title notwithstanding, the

Authority may increase such amounts to provide a cash reserve or to

secure a letter of credit or surety bond equal to six-months'

principal and interest payments on its revenue bonds or other

obligations which fund the underlying loan.