{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-3655","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-3655","heading":"Proposed amount of investment and expenditure - Period","body":"required for full expenditure - Determination of total principal\n\namount.\n\nA. Within sixty (60) days after filing the second irrevocable\n\nelection pursuant to Section 3658 of this title, each establishment\n\nthat has filed such election shall provide to the Oklahoma\n\nDevelopment Finance Authority, on such form as may be prescribed by\n\nthe Authority for this purpose, the total amount of additional\n\ninvestment and expenditure proposed by the establishment for the\n\nadditional modernization or retooling of a facility located within\n\nthe state owned by the establishment. The full amount of\n\nexpenditures qualifying for the use of proceeds pursuant to Section\n\n3654 of this title shall be made not later than five (5) years from\n\nthe date as of which the disclosure document required by this\n\nsubsection is filed, except as such period may be extended pursuant\n\nto subparagraph e of paragraph 1 of Section 3653 of this title;\n\nprovided, such five-year-time period may be extended one time, for a\n\nperiod not to exceed twelve (12) months, by the Oklahoma Department\n\nof Commerce if the establishment makes a request for an extension\n\nand provides the Department with a schedule of intended investment\n\nand expenditure.\n\nB. The Oklahoma Development Finance Authority shall evaluate\n\nthe information provided pursuant to subsection A of this section in\n\norder to determine the total principal amount of the issuance or\n\nissuances authorized by subsection A of Section 3654 of this title.\n\nThe total principal amount of any indebtedness issued by the\n\nAuthority shall not exceed an amount required in order to allow all\n\nestablishments that have made the disclosure required by subsection\n\nA of this section to fully expend proceeds made available to the\n\nestablishment by the Authority, plus amounts required for repayment\n\nof the obligations, if applicable, and the costs of the issuance.","path":["OK Code","Title 68"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os68.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"3c8f10907eb561f849f230d65116985f544d73f677bba6ad536e9772b7ceb600","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-3654","next":"us-ok/okla.-stat.-tit.-68-68-3656"},"notice":"GroundRules: Original legal text. Not legal advice."}