{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-5104","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-5104","heading":"Pooling issuer - Primary activities","body":"A. The primary activities of the pooling issuer may include:\n\n1. Credit enhancement of local community development financing\n\npursuant to the Local Development Act;\n\n2. Utilization of private and public resources to improve the\n\nfinancing infrastructure for communities in this state;\n\n3. Acting as an investor, insurer and/or guarantor of business\n\ncapital and debt financing on behalf of communities in this state;\n\n4. Marketing public obligations resulting from pooled\n\nobligations as provided in this act; and\n\n5. Serving as a purchaser of, and as a guarantor for, the\n\nobligations of designated public entities to be repaid in whole or\n\nin part with the apportioned tax increments pursuant to the Local\n\nDevelopment Act.\n\nB. A pooling issuer may amend its indenture or authorizing\n\ndocument in accordance with the Oklahoma Statutes for purposes of\n\nissuing a pooled debt obligation pursuant to this act.\n\nC. The Administrator shall be responsible for establishing,\n\nimplementing, and coordinating economic development and financing\n\nprograms for communities pursuant to this act and proposing such\n\nfinancing programs to the pooling issuer.\n\nD. The pooling issuer may invest funds directly in its own\n\npooled obligations pursuant to this section.\n\nE. The following persons and legal entities may legally invest\n\nfunds belonging to them or within their control in any notes, bonds,\n\nor other obligations issued under the Local Development Financing\n\nAct:\n\n1. All banks, trust companies, bankers, savings banks and\n\ninstitutions, building and loan associations, savings and loan\n\nassociations, investment companies and other persons carrying on a\n\nbanking or investment business;\n\n2. All insurance companies, insurance associations, and other\n\npersons carrying on an insurance business; and\n\n3. All executors, administrators, curators, trustees, and other\n\nfiduciaries.\n\nSuch notes, bonds and other obligations shall be authorized\n\nsecurity for all public deposits.\n\nF. The state and its political subdivisions are authorized to\n\nuse any funds owned or controlled by them for the purchase of any\n\nsuch notes, bonds or other obligations issued under the Local\n\nDevelopment Financing Act.\n\nG. Nothing contained in subsections E and F with regard to\n\nlegal investments shall be construed as relieving any person of any\n\nduty of exercising reasonable care in selecting securities.","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":"2cd017fe159af6029702ca79bba987fbb0db85ce6196864bd11813d126782e43","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-5103","next":"us-ok/okla.-stat.-tit.-74-74-5151"},"notice":"GroundRules: Original legal text. Not legal advice."}