{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-891.8","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-891.8","heading":"Economic Development Pool","body":"A. The Authority shall be authorized to act as a conduit issuer\n\nfor the benefit of one or more eligible local government entities or\n\nfor the benefit of one or more local government entities in\n\nconjunction with a for-profit business entity for an authorized\n\neconomic development project using the Economic Development Pool.\n\nB. The Authority shall be authorized to issue its obligations\n\nin order to provide net proceeds on a pooled basis not to exceed One\n\nHundred Million Dollars ($100,000,000.00) for the Economic\n\nDevelopment Pool. The Authority shall be authorized to issue\n\nobligations within the limit prescribed by this subsection based\n\nupon the defeasance of previously issued obligations.\n\nC. Except as otherwise provided by subsection G of this\n\nsection, proceeds from the Economic Development Pool shall be for\n\nthe purpose of providing financing for an eligible local government\n\nentity or entities or for the benefit of a business entity for an\n\nauthorized economic development project located in this state.\n\nD. Sixty-five percent (65%) of the net proceeds from the\n\nEconomic Development Pool shall be used by the Authority for the\n\nbenefit of eligible local government entities the population of\n\nwhich, according to the most recent Federal Decennial Census, does\n\nnot exceed three hundred thousand (300,000) persons for any\n\nparticipating municipality.\n\nE. Thirty-five percent (35%) of the net proceeds from the\n\nEconomic Development Pool may be used by the Authority for the\n\nbenefit of any and all eligible local government entities regardless\n\nof population.\n\nF. Obligations issued pursuant to the provisions of this\n\nsection may be issued on a tax-exempt basis if the applicable\n\nprovisions of federal law governing private activity bonds allow\n\nsuch issuance. Otherwise, the obligations issued pursuant to the\n\nprovisions of this section shall be issued on a taxable basis.\n\nG. The proceeds from the Economic Development Pool may also be\n\nused for the purposes authorized by Section 891.7 of this title.","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":"9f4ae9b075b2b699cb698ddc3daebab1e48663d8e14e1ac2d76cb2cb8beaaab6","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-891.7","next":"us-ok/okla.-stat.-tit.-62-62-891.9"},"notice":"GroundRules: Original legal text. Not legal advice."}