{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-5102","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-5102","heading":"Short title - Purpose - Definitions","body":"A. Sections 1 through 3 of this act shall be known and may be\n\ncited as the “Local Development Financing Act”.\n\nB. The purpose of the Local Development Financing Act shall be\n\nto augment and enhance Section 6C of Article X of the Oklahoma\n\nConstitution by:\n\n1. Assisting communities, especially small and rural towns and\n\ncounties, by providing a financial resource for economic development\n\nendeavors; and\n\n2. Creating marketability for tax apportionment financing\n\nvehicles under the Local Development Act.\n\nC. As used in this act:\n\n1. “Administrator” means an organization authorized by an\n\nissuer of a debt obligation pursuant to the Local Development Act,\n\nwhich undertakes the performance of the responsibilities contained\n\nin subsection C of Section 3 of this act; and\n\n2. “Pooling issuer” means any state or local public entity\n\nauthorized to issue notes or bonds pursuant to the Oklahoma Statutes\n\nfor economic development financing of state industries and public\n\nfacilities.","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":"6d64d00bb278b57233ba6becfc208a6d2db980171c49d3aaa890a61ca54439a6","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-51.4","next":"us-ok/okla.-stat.-tit.-74-74-5103"},"notice":"GroundRules: Original legal text. Not legal advice."}