{"data":{"id":"us-ok/okla.-stat.-tit.-70-70-3980.6","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 70, § 70-3980.6","heading":"Corporate powers","body":"\n\nThe authorized issuers are for purposes of this act hereby\n\ngranted, have and may exercise all powers necessary or appropriate\n\nto carry out and effectuate their respective corporate purposes,\n\nincluding, without limiting the generality thereof, the following:\n\n1. To make and execute contracts with any individual,\n\ncorporation, whether profit or nonprofit, association or any other\n\nentity and all other instruments necessary or convenient for the\n\nperformance of its duties and the exercise of its powers and\n\nfunctions pursuant to the provisions of this act;\n\n2. To employ underwriters, bond or other legal counsel,\n\nfinancial advisors, consultants, a financial institution to serve as\n\ntrustee, paying agent or in any fiduciary capacity in connection\n\nwith any program, indenture or general resolution of the Regents, or\n\nany other experts and to determine their qualifications, duties and\n\ncompensation subject to the provisions of this act for advice and\n\noversight of the State Bond Advisor;\n\n3. To procure insurance against any loss in connection with its\n\nproperty and other assets in such amounts and from such insurers as\n\nit deems desirable;\n\n4. To borrow money and to issue bonds, whether or not the\n\ninterest thereon is to be includable in the gross income of the\n\nrecipients thereof for federal income tax purposes, including,\n\nwithout limitation, to provide on a pooled or consolidated basis\n\nfinancing for the purposes and projects herein provided and to\n\nprovide for the security and sources of payments therefor;\n\n5. To receive and accept aid or contributions from any source\n\nof money, property, labor, or other things of value to be held, used\n\nand applied to carry out the purposes of this act subject to the\n\nconditions upon which the grants and contributions are made,\n\nincluding, but not limited to, gifts or grants from any department,\n\nagency or instrumentality of the United States or of the state for\n\nany purpose consistent with this act;\n\n6. To obtain from any department or agency of the United States\n\nof America or nongovernmental insurer any insurance or guaranty, to\n\nthe extent now or hereafter available, as to, or of, or for, the\n\npayment or repayment of, interest or principal, or both, or any part\n\nthereof, on any bonds issued by the authorized issuers, or on any\n\nmunicipal securities of political subdivisions purchased or held by\n\nthe authorized issuers, pursuant to this act; and, notwithstanding\n\nany other provisions of this act, to enter into any agreement or\n\ncontract whatsoever with respect to any such insurance or guaranty,\n\nexcept to the extent that the same would in any way impair or\n\ninterfere with the ability of the authorized issuers to perform and\n\nfulfill the terms of any agreement made with the owners of the bonds\n\nof the authorized issuers;\n\n7. To sell, convey, lease, exchange, transfer or otherwise\n\ndispose of, all or any of its property or any interest therein,\n\nwherever situated;\n\n8. To provide financing assistance for the purposes and\n\nprojects herein provided;\n\n9. To acquire, purchase, hold, store, advertise, market, sell,\n\ntrade, barter, exchange, distribute, transport, process, utilize and\n\ncontract in all manner with respect thereto and for commodities,\n\nproducts and services, and real or personal property or any interest\n\ntherein and to contract for, issue and utilize letters of credit and\n\nother credit facilities and incur indebtedness and to arrange, form,\n\nmake, guarantee, issue, remit, receive, receipt, process and collect\n\npayments and equivalents, howsoever nominated, in connection with or\n\nfor purposes of any of the foregoing and for the purpose of\n\nexecuting and fulfilling the purposes of the authorized issuers as\n\nprescribed by this act;\n\n10. To acquire, reacquire, construct, reconstruct, extend,\n\nrent, lease, purchase, use, loan, borrow, install, equip, maintain,\ne, remit, receive, receipt, process and collect\n\npayments and equivalents, howsoever nominated, in connection with or\n\nfor purposes of any of the foregoing and for the purpose of\n\nexecuting and fulfilling the purposes of the authorized issuers as\n\nprescribed by this act;\n\n10. To acquire, reacquire, construct, reconstruct, extend,\n\nrent, lease, purchase, use, loan, borrow, install, equip, maintain,\n\noperate, renovate, refurbish, enlarge, remodel, convey, sell, at\n\npublic or private sale, encumber, alleviate, transfer, exchange,\n\ndispose of and/or resell, any property, real, personal or mixed,\n\nimprovements, buildings, equipment, chattels, furnishings, fixtures,\n\ntrade fixtures, and any and all other facilities and/or property of\n\nwhatever nature, including any and all rights to or therein for use\n\nby corporations, individuals, cooperatives, partnerships,\n\nassociations or proprietary companies for any of or for the purpose\n\nof executing and/or fulfilling the purposes of the Regents, and to\n\nplan, establish, develop, construct, enlarge, improve, extend,\n\nmaintain, equip, operate, lease, furnish, provide, supply, regulate,\n\nhold, store and administer property, buildings, improvements, and\n\nfacilities of every nature, which may be useful in pursuing,\n\npromoting, executing and/or fulfilling the aforementioned purposes;\n\n11. To the extent permitted under its contract with the owners\n\nof bonds, to consent to any modification with respect to rate of\n\ninterest, time, and payment of any installment of principal or\n\ninterest security or any other term of any contract, mortgage,\n\ncontract or agreement of any kind to which the authorized issuers\n\nare a party;\n\n12. To purchase its own bonds at such price or prices as the\n\nauthorized issuers shall determine, subject to any agreement with\n\nthe owners of bonds;\n\n13. To enter into financial documents with others for the\n\npurpose of receiving revenues to pay the bonds authorized by this\n\nact; to lease, sell, or otherwise dispose of any or all of its\n\nprojects to others for such revenues and upon such terms and\n\nconditions as the authorized issuers may deem advisable; and to\n\ngrant options to renew any financing agreement with respect to\n\nproject and to grant options to buy any project at such price or\n\nprices as the authorized issuers deem desirable;\n\n14. To lend money to the state or political subdivisions\n\nthrough the purchase by the authorized issuers of obligations of the\n\nstate or political subdivisions;\n\n15. To collect fees and charges in connection with its loans,\n\ncommitments and servicing, including, but not limited to,\n\nreimbursement of costs of financing as the authorized issuers shall\n\ndetermine to be reasonable and as shall be approved by the\n\nauthorized issuers;\n\n16. To provide services, technical assistance and advice to\n\nthis state and political subdivisions and to enter into contracts\n\nwith this state and political subdivisions to provide such services.\n\nThe State of Oklahoma and its political subdivisions are hereby\n\nauthorized to enter into contracts with the authorized issuers for\n\nsuch services and to pay for such services as may be provided them;\n\n17. To contract, cooperate, or join with any one or more other\n\ngovernments or public agencies, or with the state, any political\n\nsubdivisions of this state, or the United States, to perform any\n\nadministrative service, activity, or undertaking which any such\n\ncontracting party is authorized by law to perform, including the\n\nissuance of bonds;\n\n18. To invest any funds available to the authorized issuers,\n\nwhether or not from the proceeds of bonds, in such securities or\n\npursuant to such agreements or other arrangements as the authorized\n\nissuers shall determine, subject to any agreements with bond owners\n\nor other creditors of the authorized issuers; and\n\n19. To exercise all other powers and functions necessary or\n\nappropriate to carry out the duties and purposes set forth in this\nhorized issuers,\n\nwhether or not from the proceeds of bonds, in such securities or\n\npursuant to such agreements or other arrangements as the authorized\n\nissuers shall determine, subject to any agreements with bond owners\n\nor other creditors of the authorized issuers; and\n\n19. To exercise all other powers and functions necessary or\n\nappropriate to carry out the duties and purposes set forth in this\n\nact, including, but not limited to, the power to enter into\n\ntransactions involving variable interest rates and interest rate\n\nswaps.","path":["OK Code","Title 70"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os70.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"1e46649cb18f486888e3e8c0cf3ae77de804e74dc6b70239f73822842bebb108","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-70-70-3980.4","next":"us-ok/okla.-stat.-tit.-70-70-3980.7"},"notice":"GroundRules: Original legal text. Not legal advice."}