Okla. Stat. tit. 74, § 74-5063.4h: Debt-service reserve
Where this section sits in the code
- OK Code
- Title 74
To establish a debt-service reserve for those revenue bonds
approved for Credit Enhancement Reserve Fund insurance by the Bond
Oversight Commissions prior to June 9, 1990, the Oklahoma
Development Finance Authority may increase the amounts of credit
enhancement, the revenue bonds and the underlying loans in an amount
sufficient to provide a cash reserve or to secure a letter of credit
or surety bond equal to six-months' principal and interest on the
revenue bonds, plus a rounding factor if necessary. The total
amount of any such increase shall not exceed ten percent (10%) of
the revenue bond amount approved by the Commissions.
Collected 2026-09-14T18:32:36Z. Source file · JSON