{"data":{"id":"us-ok/okla.-stat.-tit.-82-82-1141","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 82, § 82-1141","heading":"Oklahoma Ports Infrastructure Revolving Fund (OPIRF)","body":"A. There is hereby created in the State Treasury a revolving\n\nfund for the Department of Transportation to be designated the\n\n“Oklahoma Ports Infrastructure Revolving Fund (OPIRF)”. The fund\n\nshall be a continuing fund, not subject to fiscal year limitations,\n\nfor the purpose of pooling all monies received by the Department of\n\nTransportation from appropriations, dedicated revenues, federal\n\nfunds, private contributions or other sources authorized by law\n\ndedicated to the McClellan-Kerr Arkansas River Navigation System\n\n(MKARNS) or the waterway ports of this state. Such monies shall\n\ninclude but not be limited to:\n\n1. Monies received by the Department of Transportation for\n\nwaterway projects or infrastructure projects at waterway ports;\n\n2. Principal and interest and penalty payments on loans made\n\ndirectly from appropriated monies in the fund; and\n\n3. Any other sums deposited into the fund from any public or\n\nprivate source.\n\nAll monies accruing to the credit of the fund are hereby\n\nappropriated and may be budgeted and expended by the Department of\n\nTransportation for qualified projects upon review by the Department\n\nof Transportation and approval from the Transportation Commission.\n\nExpenditures from the fund shall be made upon warrants issued by the\n\nState Treasurer against claims filed as prescribed by law with the\n\nDirector of the Office of Management and Enterprise Services for\n\napproval and payment.\n\nB. The monies placed in the OPIRF shall be invested by the\n\nState Treasurer as prescribed by Section 89.2 of Title 62 of the\n\nOklahoma Statutes. Notwithstanding any other provision of law,\n\nincome and earnings on the fund shall accrue to the fund and may be\n\nused for the purposes provided for in this section. Any interest\n\nearned by the State Treasurer from such funds invested shall be\n\ndeposited in the OPIRF.\n\nC. As used in this section, a “qualified project” shall:\n\n1. Enhance the safe and efficient operation of the commercial\n\nwaterway systems of this state; or\n\n2. Repair, improve, or construct waterway or industrial park\n\ninfrastructure located at or within waterway ports of this state\n\nthat are determined to provide a public benefit.\n\nSuch projects shall be developed in consultation with the United\n\nStates Army Corps of Engineers and all Indian tribes with an\n\nownership interest in the riverbed of the Arkansas River when\n\nnecessary.\n\nD. The OPIRF may be utilized by port authorities which have\n\nactive waterway ports in this state for pooling available federal,\n\nprivate, and state monies for capital projects at their ports for\n\npurposes authorized by Section 1106 of this title.\n\nE. The Department of Transportation shall:\n\n1. Grant or make loans from the OPIRF for qualified projects in\n\norder to implement the provisions of this section;\n\n2. Grant an amount not to exceed twenty percent (20%) of the\n\nfunds available in the OPIRF during any one (1) year for qualified\n\nprojects; and\n\n3. Loan an amount not to exceed thirty-five percent (35%) of\n\nthe funds available in the OPIRF during any one (1) year for\n\nqualified projects.\n\nNo less than ten percent (10%) of the funds available in the\n\nOPIRF during any one (1) year shall be reserved for emergency\n\nrepairs to ports or waterway infrastructure as authorized by the\n\nTransportation Commission. Such determination of ten percent (10%)\n\nshall be made based off of the funds available in the OPIRF at the\n\nstart of each calendar year.\n\nF. The Department of Transportation shall promulgate rules\n\nnecessary to effectuate the provisions of this section. The\n\nDepartment of Transportation shall also promulgate rules to ensure\n\nthat any grants or loans made from the OPIRF are made at market-\n\ncompetitive terms.","path":["OK Code","Title 82"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os82.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"2b2f13499939abd9b63d511b7ee4556462ca382ee55bdcc0b6f138ea05941f40","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-82-82-1136","next":"us-ok/okla.-stat.-tit.-82-82-1142"},"notice":"GroundRules: Original legal text. Not legal advice."}