{"data":{"id":"us-ok/okla.-stat.-tit.-72-72-63.16","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 72, § 72-63.16","heading":"Public trusts - Issuance of evidence of indebtedness -","body":"Department of Veterans Affairs Trust Fund.\n\nA. The Oklahoma Department of Veterans Affairs shall not,\n\neither in conjunction with the Oklahoma Veterans Commission or any\n\nother state agency, board or commission or in conjunction with any\n\npublic trust, issue or cause to be issued by a public trust any bond\n\nor other evidence of indebtedness after July 1, 2008.\n\nB. Except as required for purposes of refinancing or refunding\n\nan existing issue of indebtedness, from and after July 1, 2008,\n\nneither the Oklahoma Department of Veterans Affairs nor the Oklahoma\n\nVeterans Commission shall be authorized to enter into agreements\n\nwith public trusts in connection with an issuance of evidence of\n\nindebtedness by such public trusts.\n\nC. No provision of this section shall affect the obligations\n\nincurred or agreements entered into by the Oklahoma Department of\n\nVeterans Affairs or the Oklahoma Veterans Commission with any public\n\ntrust if such obligations were incurred or agreements were entered\n\ninto or are year to year continuations of agreements or leases\n\nentered into prior to June 25, 1986. No provision of this section\n\nshall be construed as a limitation on the authority of the Oklahoma\n\nDepartment of Veterans Affairs or the Oklahoma Veterans Commission\n\nto enter into other agreements not prohibited by this section.\n\nD. There is hereby created in the State Treasury a trust fund\n\nfor the Oklahoma Department of Veterans Affairs to be designated the\n\n\"Department of Veterans Affairs Trust Fund\". The fund shall be a\n\ncontinuing fund, not subject to fiscal year limitations, and shall\n\nconsist of all monies authorized for expenditure as provided by this\n\nsection. All monies accruing to the credit of said fund are hereby\n\nappropriated and may be budgeted and expended by the Oklahoma\n\nDepartment of Veterans Affairs for the purpose of retiring\n\nindebtedness evidenced by bonds, whether such bonds are part of an\n\noriginal issue or part of a refunding issue, in the manner\n\nprescribed by this section. Expenditures from said fund shall be\n\nmade upon warrants issued by the State Treasurer against claims\n\nfiled as prescribed by law with the Director of the Office of\n\nManagement and Enterprise Services for approval and payment.\n\nE. The Oklahoma Department of Veterans Affairs shall make\n\ndeposits into the Department of Veterans Affairs Trust Fund\n\nestablished by this section from the Department of Veterans Affairs\n\nRevolving Fund, and from such other monies as may be lawfully\n\nexpended for the purposes specified by this section.\n\nF. For all fiscal years in which an outstanding balance of\n\nbonded indebtedness exists which the Oklahoma Department of Veterans\n\nAffairs has caused to be issued through agreements with public\n\ntrusts, the Oklahoma Department of Veterans Affairs shall at or\n\nprior to the end of each fiscal year quarter make money deposits in\n\nthe Department of Veterans Affairs Trust Fund in amounts sufficient\n\nto meet three (3) months' debt service on any public trust bonded\n\nindebtedness which the Department has caused to be issued. The\n\nDepartment of Veterans Affairs Trust Fund deposits required by this\n\nsubsection shall be from any funds available to the Oklahoma\n\nDepartment of Veterans Affairs which may be legally expended for the\n\npurposes specified by this section. However, a minimum of an amount\n\nequal to one percent (1%) of the Department of Veterans Affairs\n\nBudget Work Program for the applicable fiscal year must be\n\ntransferred from the Oklahoma Department of Veterans Affairs\n\nRevolving Fund and included in the total deposits required in each\n\nfiscal year.\n\nG. Payments from the fund established pursuant to subsection D\n\nof this section shall be made by the Oklahoma Department of Veterans\n\nAffairs only upon the authorization of the Director of the Office of\n\nManagement and Enterprise Services and the Oklahoma Veterans\n\nCommission.\nOklahoma Department of Veterans Affairs\n\nRevolving Fund and included in the total deposits required in each\n\nfiscal year.\n\nG. Payments from the fund established pursuant to subsection D\n\nof this section shall be made by the Oklahoma Department of Veterans\n\nAffairs only upon the authorization of the Director of the Office of\n\nManagement and Enterprise Services and the Oklahoma Veterans\n\nCommission.\n\nH. The Oklahoma Department of Veterans Affairs is hereby\n\nauthorized to deposit in the fund created in subsection D of this\n\nsection all federal grant monies which it receives in conjunction\n\nwith projects which it has caused to be financed through revenue\n\nbonds issued by public trusts.","path":["OK Code","Title 72"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os72.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"e0d2bfa8dad77638c68fe3d2398de3576306c9b6ff7f7af5f6e9f52a6270584d","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-72-72-63.15","next":"us-ok/okla.-stat.-tit.-72-72-63.17"},"notice":"GroundRules: Original legal text. Not legal advice."}