Okla. Stat. tit. 74, § 74-5102: Short title - Purpose - Definitions

A. Sections 1 through 3 of this act shall be known and may be

cited as the “Local Development Financing Act”.

B. The purpose of the Local Development Financing Act shall be

to augment and enhance Section 6C of Article X of the Oklahoma

Constitution by:

1. Assisting communities, especially small and rural towns and

counties, by providing a financial resource for economic development

endeavors; and

2. Creating marketability for tax apportionment financing

vehicles under the Local Development Act.

C. As used in this act:

1. “Administrator” means an organization authorized by an

issuer of a debt obligation pursuant to the Local Development Act,

which undertakes the performance of the responsibilities contained

in subsection C of Section 3 of this act; and

2. “Pooling issuer” means any state or local public entity

authorized to issue notes or bonds pursuant to the Oklahoma Statutes

for economic development financing of state industries and public

facilities.