{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-5062.34","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-5062.34","heading":"Oklahoma Development Finance Authority - Issuance of","body":"bonds - Titles and Liens - Deferrals.\n\nA. When a qualified issuer that is or will be impacted by\n\ngrowth at a military installation, proposes to acquire or construct\n\na capital project, the Oklahoma Development Finance Authority may\n\nserve as conduit issuer for the capital project in the form of\n\nloans, lease-purchase agreements, or other forms of indebtedness.\n\nB. For the capital projects described in subsection A of this\n\nsection, the Authority may issue bonds to provide funding:\n\n1. To acquire real property, together with improvements\n\nthereon;\n\n2. To construct buildings and other improvements to real\n\nproperty;\n\n3. To provide repairs, renovations, and improvements to real\n\nproperty and other fixed assets; and\n\n4. To defease or refund bonds or other obligations of a\n\nqualified issuer which were issued to finance a capital project as\n\ndefined herein; and further, to fund necessary bond reserves and to\n\npay costs of issuance of any obligations issued under this act.\n\nC. The Authority shall not issue bonds for loans, lease-\n\npurchase agreements, or other forms of indebtedness for a qualified\n\nissuer pursuant to the Military Base Protection and Expansion\n\nIncentive Act except upon the certification by the qualified issuer\n\nthat it has received or will receive an amount sufficient to repay\n\nthe indebtedness as a result of a voter-approved incentive derived\n\nfrom a tax levy. Further, the qualified issuer shall certify that it\n\nwill not use the proceeds of general obligation bonds to pay the\n\ninterest on any lease-purchase obligations.\n\nD. The Authority may hold title to the new real property and\n\nimprovements and place liens on improved existing real property\n\nuntil such time as any obligations issued for the purpose of the\n\ncapital project are retired or defeased and may lease the real\n\nproperty and improvements to the qualified issuer. Upon final\n\nredemption or defeasance of the obligations created pursuant to this\n\nsection, title to the real property and improvements thereon shall\n\nbe transferred from the Authority to the qualified issuer.\n\nE. The Authority may defer principal payments on loans made\n\npursuant to the Military Base Protection and Expansion Incentive Act\n\nfor a period not to exceed five (5) years.","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":"a69932401f0625e7148a7bb4a4edc6676ef58188cec5ac6cfbf7af502db88e7e","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-5062.33","next":"us-ok/okla.-stat.-tit.-74-74-5062.35"},"notice":"GroundRules: Original legal text. Not legal advice."}