{"data":{"id":"us-ok/okla.-stat.-tit.-73-73-301","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 73, § 73-301","heading":"Acquisition, construction, repair and improvement of real","body":"property - Appropriations.\n\nA. The Oklahoma Capitol Improvement Authority is authorized to\n\nacquire real property, together with improvements located thereon,\n\nand personal property, to construct buildings and other improvements\n\nto real property and to provide funding for repairs, refurbishments\n\nand improvements to real and personal property and for funding for\n\nthe following capital projects in the following amounts:\n\n1. Capital projects at institutions of higher education which\n\nare part of The Oklahoma State System of Higher Education in a total\n\namount not to exceed Forty-five Million Dollars ($45,000,000.00)\n\nwith debt retirement payments to be made by the Oklahoma State\n\nRegents for Higher Education;\n\n2. Construction of a History Center for the Oklahoma Historical\n\nSociety in a total amount not to exceed Thirty-two Million Dollars\n\n($32,000,000.00) with debt retirement payments to be made by the\n\nOklahoma Historical Society. Of such total amount, the sum of Four\n\nMillion One Hundred Thousand Dollars ($4,100,000.00) shall be\n\ntransferred to the Capital Improvement Revolving Fund as\n\nreimbursement for improvements and renovations to the property made\n\nin preparation for the construction of the History Center;\n\n3. Renovation of the Wiley Post Historical Building for\n\noccupancy by appellate courts in a total amount not to exceed Ten\n\nMillion Dollars ($10,000,000.00) with debt retirement payments to be\n\nmade by the Oklahoma Supreme Court;\n\n4. Land acquisition, demolition, landscaping, environmental\n\nremediation and other costs associated with the Lincoln Boulevard\n\nRenaissance Project in a total amount not to exceed Thirteen Million\n\nEight Hundred Thousand Dollars ($13,800,000.00) with debt retirement\n\npayments to be made by the Office of Management and Enterprise\n\nServices;\n\n5. Construction of a new building for the J.D. McCarty Center\n\nfor Children with Developmental Disabilities in a total amount not\n\nto exceed Ten Million Three Hundred Thousand Dollars\n\n($10,300,000.00) with debt retirement payments to be made by the\n\nJ.D. McCarty Center for Children with Developmental Disabilities;\n\n6. Funding for capital costs of a Technology Incubator Program\n\nfor the University Hospitals Authority in a total amount not to\n\nexceed Two Million Dollars ($2,000,000.00) with debt retirement\n\npayments to be made by the University Hospitals Authority;\n\n7. Funding for capital costs for the Native American Cultural\n\nand Educational Authority of Oklahoma in a total amount not to\n\nexceed Five Million Dollars ($5,000,000.00) with debt retirement\n\npayments to be made by the Native American Cultural and Educational\n\nAuthority of Oklahoma;\n\n8. Funding for capital costs for systemwide equipment for the\n\nOklahoma Department of Career and Technology Education in a total\n\namount not to exceed Five Million Dollars ($5,000,000.00) with debt\n\nretirement payments to be made by the Oklahoma Department of Career\n\nand Technology Education;\n\n9. Capital projects for the Oklahoma School for the Deaf in a\n\ntotal amount not to exceed Six Million Seven Hundred Fifty Thousand\n\nDollars ($6,750,000.00) with debt retirement payments to be made by\n\nthe State Department of Rehabilitation Services;\n\n10. Capital projects for the Oklahoma School for the Blind in a\n\ntotal amount not to exceed Six Million Seven Hundred Fifty Thousand\n\nDollars ($6,750,000.00) with debt retirement payments to be made by\n\nthe State Department of Rehabilitation Services;\n\n11. Construction of a new State Veterans Home in Lawton,\n\nOklahoma, in a total amount not to exceed Twelve Million Dollars\n\n($12,000,000.00) with debt retirement payments to be made by the\n\nOklahoma Department of Veterans Affairs;\n\n12. Capital costs for financial management information systems\n\nin a total amount not to exceed One Million Dollars ($1,000,000.00)\n\nwith debt retirement payments to be made by the Office of Management\neterans Home in Lawton,\n\nOklahoma, in a total amount not to exceed Twelve Million Dollars\n\n($12,000,000.00) with debt retirement payments to be made by the\n\nOklahoma Department of Veterans Affairs;\n\n12. Capital costs for financial management information systems\n\nin a total amount not to exceed One Million Dollars ($1,000,000.00)\n\nwith debt retirement payments to be made by the Office of Management\n\nand Enterprise Services;\n\n13. Funding for the purchase of computer hardware and software\n\nfor the Central Purchasing Division of the Office of Management and\n\nEnterprise Services in a total amount not to exceed Two Million\n\nDollars ($2,000,000.00) with debt retirement payments to be made by\n\nthe Office of Management and Enterprise Services;\n\n14. Funding for implementation of the Boll Weevil Eradication\n\nAct in a total amount not to exceed Three Million Dollars\n\n($3,000,000.00) with debt retirement payments to be made by the\n\nState Department of Agriculture;\n\n15. Funding for construction and other capital costs at Quartz\n\nMountain Lodge and Arts and Conference Center in a total amount not\n\nto exceed Three Million Five Hundred Thousand Dollars\n\n($3,500,000.00) with debt retirement payments to be made by the\n\nOklahoma Tourism and Recreation Department. Of such total amount\n\nappropriated pursuant to this section, the sum of Three Million Five\n\nHundred Thousand Dollars ($3,500,000.00) shall be transferred to the\n\nCapital Improvement Revolving Fund as reimbursement for the\n\nconstruction and other capital costs at the Quartz Mountain Lodge\n\nand Arts and Conference Center; and\n\n16. The following capital projects to be funded by the\n\nobligations authorized herein in the amounts to be allocated and\n\nexpended by the following entities and in the following amounts:\n\na. the Oklahoma Aeronautics Commission $2,990,000.00\n\nb. the State Department of Agriculture $5,044,194.00\n\nc. the Oklahoma State Bureau of\n\nInvestigation $300,000.00\n\nd. the Oklahoma Capitol Complex and\n\nCentennial Commission $5,470,101.00\n\ne. the Office of Management and\n\nEnterprise Services $975,000.00\n\nf. the Oklahoma Department of Commerce $1,250,000.00\n\ng. the Oklahoma Conservation\n\nCommission $100,000.00\n\nh. the Department of Corrections $260,101.00\n\ni. the State Department of Education $700,000.00\n\nj. the Oklahoma Educational Television\n\nAuthority $250,000.00\n\nk. the Grand River Dam Authority $220,000.00\n\nl. the State Department of Health $735,000.00\n\nm. the Oklahoma State Regents for\n\nHigher Education $30,617,909.00\n\nn. the Oklahoma Historical Society $10,456,303.00\n\no. the Oklahoma House of\n\nRepresentatives $46,434.00\n\np. the Department of Human Services $2,010,101.00\n\nq. the J.D. McCarty Center for\n\nChildren with Developmental\n\nDisabilities $485,101.00\n\nr. the Office of Juvenile Affairs $1,227,601.00\n\ns. the Department of Mental Health and\n\nSubstance Abuse Services $2,075,000.00\n\nt. the Military Department of the\n\nState of Oklahoma $5,700,101.00\n\nu. the Department of Public Safety $1,194,000.00\n\nv. the Oklahoma Tourism and Recreation\n\nDepartment $10,565,005.00\n\nw. the Department of Transportation $5,241,412.00\n\nx. the Oklahoma Department of Veterans\n\nAffairs $1,450,000.00\n\ny. the Oklahoma Department of Career\n\nand Technology Education $13,845,303.00\n\nz. the Oklahoma Water Resources Board $1,850,000.00\n\naa. the Department of Wildlife\n\nConservation $608,000.00\n\nbb. the Office of Management and\n\nEnterprise Services $51,833,333.00\n\nGRAND TOTAL $157,499,999.00\n\nThe funds allocated in subparagraph bb of this paragraph shall be\n\nspent for capital projects which are important to the furtherance of\n\nstate functions, as directed by the Governor.\n\nB. The Authority may hold title to the real and personal\n\nproperty and improvements until such time as any obligations issued\nOffice of Management and\n\nEnterprise Services $51,833,333.00\n\nGRAND TOTAL $157,499,999.00\n\nThe funds allocated in subparagraph bb of this paragraph shall be\n\nspent for capital projects which are important to the furtherance of\n\nstate functions, as directed by the Governor.\n\nB. The Authority may hold title to the real and personal\n\nproperty and improvements until such time as any obligations issued\n\nfor this purpose are retired or defeated and may lease the real\n\nproperty and improvements to the agencies indicated herein. Upon\n\nfinal redemption or defeasance of the obligations created pursuant\n\nto this section, title to the real and personal property and\n\nimprovements shall be transferred from the Oklahoma Capitol\n\nImprovement Authority, to the agencies indicated herein.\n\nC. For the purpose of paying the costs for acquisition and\n\nconstruction of the real property and improvements and personal\n\nproperty and making the repairs, refurbishments, and improvements to\n\nreal and personal property, and providing funding for the projects\n\nauthorized in subsection A of this section, and for the purpose\n\nauthorized in subsection D 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 real and personal property\n\nand improvements and, in anticipation of the collection of such\n\nincome and revenues, to issue negotiable obligations in a total\n\namount not to exceed Three Hundred Twenty-five Million Dollars\n\n($325,000,000.00) whether issued in one or more series. The Office\n\nof Management and Enterprise Services is authorized and directed to\n\nexpend funds from the Capital Improvement Revolving Fund in amounts\n\nsufficient to make required payments pursuant to such obligations\n\nduring the fiscal year ending June 30, 1999. For subsequent fiscal\n\nyears, it is the intent of the Legislature to appropriate to the\n\nindicated state agencies sufficient monies to make rental payments\n\nfor the purposes of retiring the obligations created pursuant to\n\nthis section. Provided, the Authority shall not issue any\n\nobligations pursuant to this section for the purpose of providing\n\nfunding for the projects authorized in paragraph 16 of subsection A\n\nof this section prior to January 1, 2001. For the fiscal year\n\nending June 30, 2002, and thereafter, it is the intent of the\n\nLegislature to appropriate to the agencies administering the\n\nprojects sufficient monies to make rental payments for the purpose\n\nof retiring the obligations created pursuant to this section.\n\nD. To the extent funds are available from the proceeds of the\n\nborrowing authorized by subsection C of this section, the Oklahoma\n\nCapitol Improvement Authority shall provide for the payment of\n\nprofessional fees and associated costs related to the projects\n\nauthorized in subsection A of this section.\n\nE. The Authority may issue obligations in one or more series\n\nand in conjunction with other issues of the Authority. The\n\nAuthority is authorized to hire bond counsel, financial consultants,\n\nand such other professionals as it may deem necessary to provide for\n\nthe efficient sale of the obligations and may utilize a portion of\n\nthe proceeds of any borrowing to create such reserves as may be\n\ndeemed necessary and to pay costs associated with the issuance and\n\nadministration of such obligations.\n\nF. The obligations authorized under this section may be sold at\n\neither competitive or negotiated sale, as determined by the\n\nAuthority, and in such form and at such prices as may be authorized\n\nby the Authority. The Authority may enter into agreements with such\n\ncredit enhancers and liquidity providers as may be determined\n\nnecessary to efficiently market the obligations. The obligations\n\nmay mature and have such provisions for redemption as shall be\n\ndetermined by the Authority, but in no event shall the final\nby the\n\nAuthority, and in such form and at such prices as may be authorized\n\nby the Authority. The Authority may enter into agreements with such\n\ncredit enhancers and liquidity providers as may be determined\n\nnecessary to efficiently market the obligations. The obligations\n\nmay mature and have such provisions for redemption as shall be\n\ndetermined by the Authority, but in no event shall the final\n\nmaturity of such obligations occur later than thirty (30) years from\n\nthe first principal maturity date.\n\nG. Any interest earnings on funds or accounts created for the\n\npurposes of this section may be utilized as partial payment of the\n\nannual debt service or for the purposes directed by the Authority.\n\nH. The obligations issued under this section, the transfer\n\nthereof and the interest earned on such obligations including any\n\nprofit derived from the sale thereof, shall not be subject to\n\ntaxation of any kind by this state, or by any county, municipality\n\nor political subdivision therein.\n\nI. The Authority may direct the investment of all monies in any\n\nfunds or accounts created in connection with the offering of the\n\nobligations authorized under this section. Such investments shall\n\nbe made in a manner consistent with the investment guidelines of the\n\nState Treasurer. The Authority may place additional restrictions on\n\nthe investment of such monies if necessary to enhance the\n\nmarketability of the obligations.\n\nJ. 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\nK. To the extent that the provisions of paragraph 3 of\n\nsubsection K of Section 85.4 of Title 74 of the Oklahoma Statutes\n\nwould otherwise be applicable, such provisions shall be inapplicable\n\nto assets acquired, for ownership or for use, through the proceeds\n\nfrom the obligations authorized by paragraph 16 of subsection A of\n\nthis section.\n\nL. The Legislature finds that several functions of state\n\ngovernment are properly performed through the delivery of state\n\nservices by use of political subdivisions. In order to facilitate\n\nthe delivery of essential state services and in furtherance of state\n\ngovernmental functions by the construction, acquisition or\n\nimprovement of assets which may be located within the corporate\n\nlimits of a municipality of this state or which may be located in\n\nunincorporated areas of the state and subject to the jurisdiction of\n\na board of county commissioners, but which nonetheless serve an\n\nimportant function of state government, this state finds that the\n\nuse of the proceeds from the issuance of obligations pursuant to\n\nthis section effectuates the performance of essential state\n\ngovernmental functions including, but not limited to:\n\n1. Fire protection services;\n\n2. Roads, bridges and highways located either partially within\n\nor completely within the corporate limits of a municipality or in an\n\nunincorporated area of the state;\n\n3. Historic preservation;\n\n4. Recreational facilities;\n\n5. Air transportation infrastructure;\n\n6. Facilities for the housing and care of the elderly;\n\n7. Juvenile delinquency prevention and treatment facilities;\n\n8. Agricultural and horticultural event facilities;\n\n9. Health care facilities including, but not limited to,\n\nfacilities the primary purpose of which is the treatment or\n\nprevention of communicable diseases or illness;\n\n10. Promotion of tourism;\n\n11. Promotion of economic development and business site\n\nselection; and\n\n12. Public safety.\n\nM. Notwithstanding any other provision of law to the contrary,\n\neach and every agency, board, commission, department or other entity\n\nof state government as identified in paragraph 16 of subsection A of\n\nthis section shall have the authority to acquire or to transfer such\n\nproperty, whether real or personal, tangible or intangible, as may\nment and business site\n\nselection; and\n\n12. Public safety.\n\nM. Notwithstanding any other provision of law to the contrary,\n\neach and every agency, board, commission, department or other entity\n\nof state government as identified in paragraph 16 of subsection A of\n\nthis section shall have the authority to acquire or to transfer such\n\nproperty, whether real or personal, tangible or intangible, as may\n\nbe required to fully fund the projects and to acquire or improve the\n\nassets for which the proceeds from the obligations authorized by\n\nthis section are available.","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":"a4a2d67df12226a129c5ef2d82fb78f8b26e4a8c6e9436a55ce985bad29b4f50","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-73-73-26","next":"us-ok/okla.-stat.-tit.-73-73-301.1"},"notice":"GroundRules: Original legal text. Not legal advice."}