{"data":{"id":"us-ok/okla.-stat.-tit.-73-73-178","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 73, § 73-178","heading":"Repairs, refurbishments and improvements - Authority to","body":"issue bonds.\n\nA. The Oklahoma Capitol Improvement Authority shall provide for\n\nthe funding for repairs, refurbishments and improvements to Oklahoma\n\nTourism and Recreation Department properties and facilities, and may\n\nhold title to or a leasehold interest in the facilities until such\n\ntime as the indebtedness created pursuant to this section shall be\n\nretired or defeased and shall lease such facilities to the\n\nDepartment. Upon the retirement of the indebtedness created\n\npursuant to this section, the title to the facilities and\n\nimprovements thereon shall be transferred from the Oklahoma Capitol\n\nImprovement Authority to the Oklahoma Tourism and Recreation\n\nDepartment. Project costs are allocated in the following amounts:\n\nPARK AMOUNT\n\nLangley (below dam)\n\n9 hole golf course $1,285,240.00\n\nClubhouse/maintenance barn 154,000.00\n\n15 RV super sites 132,000.00\n\nSewer, water, and electric utility systems 134,000.00\n\nContingency 100,000.00\n\n1 comfort station with shower 60,500.00\n\nRoads and Parking 75,000.00\n\nEucha\n\nComfort station with shower and\n\nsewer system 55,000.00\n\nNatural Falls - Colcord\n\nCommunity Building, RV Rally Area, and\n\nsewer system 238,700.00\n\nDripping Springs - Okmulgee\n\nComfort station with showers, 25 RV sites,\n\nSewer System, and Visitor center/park store 255,200.00\n\nTexoma\n\n18 hole championship golf course 3,025,000.00\n\nClubhouse with grill 445,500.00\n\nRoman Nose\n\n9 hole golf course expansion 767,525.00\n\nWelcome Center\n\nThackerville 575,000.00\n\nWelcome Center\n\nCatoosa 500,000.00\n\nWelcome Center\n\nMidwest City 500,000.00\n\nQuartz Mountain Resort Park\n\nLodge - 100 Rooms with banquet facilities\n\nand meeting rooms 3,500,000.00\n\nTOTAL $11,802,665.00\n\nB. For the purpose of paying the costs of the projects\n\nauthorized in subsection A of this section, the Authority is hereby\n\nauthorized to borrow monies on the credit of the income and revenues\n\nto be derived from the leasing of such projects and, in anticipation\n\nof the collection of such income and revenues, to issue negotiable\n\nor competitive bonds not to exceed the sum of Twelve Million Six\n\nHundred Eighty-five Thousand Dollars ($12,685,000.00) as may be\n\ndetermined by the Authority. It is the intent of the Legislature to\n\nappropriate to the Oklahoma Tourism and Recreation Department\n\nsufficient monies to make rental payments for purposes of retiring\n\nthe debt created pursuant to this section.\n\nC. The Authority may issue the bonds in one or more series and\n\nin conjunction with other issues of the Authority.\n\nD. Insofar as they are not in conflict with the provisions of\n\nthis section, the provisions of Section 151 et seq. of this title\n\nshall apply to this section.\n\nE. The Oklahoma Tourism and Recreation Commission may revise\n\nsuch charges directly associated with such improvements from time to\n\ntime whenever necessary to maximize revenues so as to contribute to\n\nthe payment of principal of and interest on such bonds. All\n\nrevenues generated pursuant to the provisions of this section not\n\notherwise committed for other lawful purposes shall be placed in the\n\n1995 Tourism Bond Revolving Fund, as created in Section 179 of this\n\ntitle.\n\nF. All interest earned on any reserve funds created by such\n\nbonds held by the State Treasurer, as collected, shall be paid into\n\nthe General Revenue Fund.\n\nG. If any of the lodge facilities involved are sold to private\n\nentities, at any time in the future, prior to the payment of the\n\nbonds issued by virtue of this act, the amount received shall first\n\nbe used to pay any unredeemed bonds for such facilities.\n\nH. Provided that the security for these bonds is not adversely\n\naffected, certain project cost allocations, as identified in this\n\nsection, may be used for the following expanded purpose:\n\nLangley - contingency of One Hundred Thousand Dollars\n\n($100,000.00) may also be used to fund any overage amount associated\namount received shall first\n\nbe used to pay any unredeemed bonds for such facilities.\n\nH. Provided that the security for these bonds is not adversely\n\naffected, certain project cost allocations, as identified in this\n\nsection, may be used for the following expanded purpose:\n\nLangley - contingency of One Hundred Thousand Dollars\n\n($100,000.00) may also be used to fund any overage amount associated\n\nwith the projects listed in this section for Langley State Park.","path":["OK Code","Title 73"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os73.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"155514cc95c5f1692c5ea694447b5b5354f69026b26790978d302bcdbb0799cd","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-73-73-177.1","next":"us-ok/okla.-stat.-tit.-73-73-179"},"notice":"GroundRules: Original legal text. Not legal advice."}