{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-891.3","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-891.3","heading":"Definitions","body":"1. \"Authority\" means the Oklahoma Development Finance\n\nAuthority;\n\n2. \"Bonds\" means any form of obligation issued by the Oklahoma\n\nDevelopment Finance Authority pursuant to the Oklahoma Community\n\nEconomic Development Pooled Finance Act;\n\n3. \"Business entity\" means a corporation, limited liability\n\ncompany, general partnership, limited partnership or such other\n\nentity conducting a lawful activity which is organized pursuant to\n\nthe laws of the state or which is authorized to do business in the\n\nstate if organized under the law of another jurisdiction;\n\n4. \"Community Economic Development Pooled Finance Revolving\n\nFund\" means the fund created pursuant to Section 891.15 of this\n\ntitle;\n\n5. \"Conduit issuer\" means the Oklahoma Development Finance\n\nAuthority acting for the benefit of either a combination of local\n\ngovernment entities or a local government entity or entities in\n\nconjunction with a for-profit business entity pursuant to the\n\nprovisions of the Oklahoma Community Economic Development Pooled\n\nFinance Act;\n\n6. \"Credit Enhancement Reserve Fund\" means that fund created\n\npursuant to Section 5063.3 of Title 74 of the Oklahoma Statutes;\n\n7. \"Debt\" means bonds, notes or other evidence of indebtedness\n\nissued by the Oklahoma Development Finance Authority;\n\n8. \"Department\" means the Oklahoma Department of Commerce;\n\n9. \"Economic Development Pool\" means proceeds of obligations\n\nsold by the Authority to provide resources for eligible local\n\ngovernment entities or a local government entity in conjunction with\n\na for-profit business entity to finance an eligible economic\n\ndevelopment project or other purposes authorized by the Oklahoma\n\nCommunity Economic Development Pooled Finance Act;\n\n10. \"Eligible local government entity\" means:\n\na. a city,\n\nb. a town,\n\nc. a county,\n\nd. any combination of cities, towns or counties,\n\ne. a public trust with a beneficiary or beneficiary which\n\nis a city, town, county or some combination of such\n\nentities as authorized by Section 176 of Title 60 of\n\nthe Oklahoma Statutes, or\n\nf. an entity subject to the jurisdiction of the State\n\nBoard of Career and Technology Education or the\n\nOklahoma State Regents for Higher Education;\n\n11. \"Federal government defense entities\" means U.S. Department\n\nof Defense installations in the State of Oklahoma including Fort\n\nSill, Tinker Air Force Base, Altus Air Force Base, Vance Air Force\n\nBase and McAlester Army Ammunition Plant;\n\n12. \"For-profit business\" means any lawful activity conducted\n\nby a business entity with the goal or expectation of selling goods,\n\nservices or other property at a price greater than the actual costs\n\nincurred by the business;\n\n13. \"Infrastructure\" means:\n\na. county roads,\n\nb. county bridges,\n\nc. municipal streets,\n\nd. municipal bridges,\n\ne. any railway or utility system owned by an eligible\n\nlocal government entity,\n\nf. water treatment facilities,\n\ng. solid waste management facilities,\n\nh. water treatment and distribution systems,\n\ni. any asset or project identified by the eligible local\n\ngovernment entities necessary for essential government\n\nfunctions if the asset is owned by a local government\n\nentity or entities, or\n\nj. any asset or project that is owned or operated by an\n\neligible local government entity that provides a\n\nspecific industry focused training program that:\n\n(1) is collaboratively developed with major industry\n\nemployers in this state to meet the occupational\n\nand skill demands in its workforce, and\nssential government\n\nfunctions if the asset is owned by a local government\n\nentity or entities, or\n\nj. any asset or project that is owned or operated by an\n\neligible local government entity that provides a\n\nspecific industry focused training program that:\n\n(1) is collaboratively developed with major industry\n\nemployers in this state to meet the occupational\n\nand skill demands in its workforce, and\n\n(2) the delivery of instruction may be a\n\ncollaboration between or among entities under the\n\njurisdiction of the State Department of\n\nEducation, the State Board of Career and\n\nTechnology Education and the Oklahoma State\n\nRegents for Higher Education;\n\n14. \"Infrastructure Pool\" means proceeds of obligations sold by\n\nthe Authority to provide resources for eligible local government\n\nentities to provide financing for infrastructure or other purposes\n\nauthorized by the Oklahoma Community Economic Development Pooled\n\nFinance Act;\n\n15. \"Pooled financing\" means an agreement, pursuant to the\n\nprovisions of the Oklahoma Community Economic Development Pooled\n\nFinance Act or pursuant to the Interlocal Cooperation Act, among two\n\nor more eligible local governmental entities or involving a local\n\ngovernment entity or entities in conjunction with a for-profit\n\nbusiness entity to use proceeds from a tax levy or other authorized\n\nsource of revenue to make payments of principal, interest and other\n\nrelated costs in connection with an obligation issued by the\n\nOklahoma Development Finance Authority for the benefit of the\n\nentities entering into such agreement according to the terms of the\n\nagreement and according to the requirements of any ballot submitted\n\nto the voters of the respective eligible local governmental\n\nentities. Pooled financing does not mean or include the use of any\n\nad valorem tax revenues derived from a levy imposed pursuant to\n\nSection 26 of Article X of the Oklahoma Constitution;\n\n16. \"Private activity bonds\" means those obligations the\n\ninterest income from which may be exempt from federal income tax\n\npursuant to the provisions of the Internal Revenue Code of 1986, as\n\namended; and\n\n17. \"Public-Private Partner Development Pool\" means proceeds of\n\nobligations sold by the Oklahoma Development Finance Authority to\n\nprovide resources for eligible local government entities to provide\n\nfinancing for infrastructure in conjunction with for-profit business\n\nentities and federal government defense entities or any other\n\npurpose authorized by the Oklahoma Community Economic Development\n\nPooled Finance Act.","path":["OK Code","Title 62"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os62.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"1f60c5b82feb88a1e5e1162856ae1d8be57bad8858b50a814da3609186ec0dc0","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-891.2","next":"us-ok/okla.-stat.-tit.-62-62-891.4"},"notice":"GroundRules: Original legal text. Not legal advice."}