{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-891.5","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-891.5","heading":"Applicability of Credit Enhancement Reserve Fund Act -","body":"Participation in Community Economic Development Pooled Finance\n\nRevolving Fund.\n\nA. To the extent that the provisions of the Credit Enhancement\n\nReserve Fund Act are consistent with the provisions of the Oklahoma\n\nCommunity Economic Development Pooled Finance Act, the provisions of\n\nthe Credit Enhancement Reserve Fund Act shall be applicable to a\n\npooled financing.\n\nB. The Credit Enhancement Reserve Fund shall not be utilized in\n\nsupport of any pooled financing obligations issued pursuant to this\n\nact prior to the full use of any revenues committed to the repayment\n\nof any such obligations pursuant to an agreement or agreements among\n\nthe participating local government entities or for-profit business\n\nentity for the repayment of principal, interest and other costs of\n\nthe pooled financing.\n\nC. Agreements entered into pursuant to this act may provide for\n\none or more of the participating local government entities to make\n\ndeposits in the Community Economic Development Pooled Finance\n\nRevolving Fund in excess of the amount originally provided for in\n\nany agreement authorized by this act in order to compensate for the\n\npayments otherwise required to be made by any other participating\n\nlocal government entity which is a party to the same agreement.\n\nD. If any participating local government entity does not make\n\ndeposits in the Community Economic Development Pooled Finance\n\nRevolving Fund as originally required by an agreement authorized by\n\nthis act, such local government entity shall be required to\n\ncompensate the other participating local government entity or\n\nentities pursuant to the terms of the agreement for the amounts paid\n\non its behalf, including interest.\n\nE. Any local government entity that does not make deposits in\n\nthe Community Economic Development Pooled Finance Revolving Fund\n\naccording to the terms of an agreement authorized by this act shall\n\nbe prohibited from participation in any other pooled financing\n\notherwise authorized by this act for a period of five (5) years from\n\nthe date of the first date upon which a required deposit to the\n\nCommunity Economic Development Pooled Finance Revolving Fund is not\n\nmade or for a period of five (5) years from the first date upon\n\nwhich a payment is made on a timely basis, but for less than the\n\namount required pursuant to the terms of an agreement authorized\n\npursuant to this 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":"423921219fb4229c9b66025d8e78f2810b1c0e656d1ae06acedfc0e70ba90474","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-891.4","next":"us-ok/okla.-stat.-tit.-62-62-891.6"},"notice":"GroundRules: Original legal text. Not legal advice."}