{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-5062.3","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-5062.3","heading":"Mission of Oklahoma Development Finance Authority -","body":"Public policy.\n\nA. The mission of the Oklahoma Development Finance Authority\n\nshall be to take into account and develop its policies based upon\n\nthe following findings:\n\n1. Fundamental changes have occurred in national and\n\ninternational markets for goods and services produced by the\n\ncitizens of this state. These changes have created an economic\n\nhardship for this state as manifested by the increasing number of\n\nbusiness failures and bankruptcies, both personal and corporate, and\n\nthe high levels of unemployment in agricultural and industrial\n\nenterprises;\n\n2. There exists a need to improve, repair, replace and expand\n\nthe infrastructure of the state and its political subdivisions,\n\nwhich is vital to the health, safety and welfare of the citizens of\n\nthe state as well as to economic growth and development; and\n\n3. Structural changes in global capital markets and real goods\n\nmarkets have had a strong impact on the availability of long-term\n\ncapital in this state.\n\nB. It is hereby declared to be the public policy and\n\nresponsibility of this state to promote the health, welfare, safety\n\nand economic security of its inhabitants through the retention of\n\nexisting employment and alleviation of unemployment in all phases of\n\nagricultural enterprises and industrial enterprises, for the\n\ndevelopment of reliable, affordable, efficient and environmentally\n\ncompatible sources of energy for all types of public and private\n\nconsumption, for providing health care facilities, for providing\n\ncapital improvement facilities, for providing educational facilities\n\nfor the benefit of educational institutions within the state and for\n\nsuch other facilities and projects as herein provided.\n\nC. It is hereby found that the public policies and\n\nresponsibilities of the state as set forth in this act cannot be\n\nfully attained without the use of public financing and that such\n\npublic financing can best be provided by the creation of a state\n\ndevelopment finance authority with comprehensive and extensive\n\npowers therein, which authority shall have the power to issue bonds\n\nto provide financing for qualified agricultural enterprises, capital\n\nimprovements, educational facilities, industrial enterprises, energy\n\nconservation facilities, energy distribution facilities, energy\n\ngenerating facilities and facilities, health care facilities,\n\npollution control facilities, recreational facilities and waste\n\nwater facilities, and that all of the foregoing are public purposes\n\nand uses for which public moneys may be borrowed, expended,\n\nadvanced, loaned and granted.","path":["OK Code","Title 74"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os74.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"400642d8b1d729dc225d99038c48290c9c56e0d9d67b5e23f10f562504c97afd","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-5062.22","next":"us-ok/okla.-stat.-tit.-74-74-5062.30"},"notice":"GroundRules: Original legal text. Not legal advice."}