{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-872","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-872","heading":"Agency not holding title to real estate comprising","body":"industrial development project - Loans.\n\nIn those instances where in an industrial development agency not\n\nholding title to real estate comprising the industrial development\n\nproject, but desiring the Oklahoma Industrial Finance Authority to\n\nparticipate in the financing of such project, joins a responsible\n\nindustrial buyer in making application for a loan from said\n\nAuthority for such purpose, the said industrial development agency\n\nitself contributing funds to the financing of such project, whether\n\nsecured or not, the said Oklahoma Industrial Finance Authority is\n\nhereby authorized and empowered, subject to all other provisions of\n\nSections 851 through 868 of this title, and in supplementation\n\nthereof, to participate in the financing of such industrial\n\ndevelopment project not to exceed sixty-six and two-thirds percent\n\n(66 2/3%) of the cost thereof, taking as security for its loan a\n\nfirst mortgage lien on such approved industrial development project\n\nor thirty-three and one-third percent (33 1/3%) of the cost thereof,\n\ntaking as security a second mortgage lien on such approved\n\nindustrial development project; provided, however, that in such case\n\nthe mortgage lien securing funds loaned by the local industrial\n\ndevelopment agency shall be inferior to the lien of said Authority,\n\nand provided, further, that the local industrial development agency\n\nshall be jointly and severally liable upon the note or notes given\n\nthe said Authority as one of the principal makers thereof.","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":"7a898c021e86c60850ca08f0bf2ff74fa869665cf497b38edf25370b1cd448d9","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-871","next":"us-ok/okla.-stat.-tit.-74-74-873"},"notice":"GroundRules: Original legal text. Not legal advice."}