Title 62 — Title 62 — Public Finance

A. Municipalities and counties are hereby authorized to use any available revenues for the accomplishment of the purposes set forth in Section 652 hereof. B. Trustees of public trusts who have constructed and leased or operated county law enforcement centers or jails for the bene…

(a) Revenue bonds may be issued by a public trust as referred to in Section 2 above for the purposes set forth in Sections 2 and 3 hereof only with the approval of a majority of the qualified electors of the municipality or county voting at an election called for that purpose. An…

execution. (a) The issuance of revenue bonds shall be by a resolution of the trustees. The bonds may be issued in one or more series, may bear such date or dates, may mature at such time or times, not exceeding thirty (30) years from their respective dates, may bear interest at s…

Payment of principal and interest. Such revenue bonds shall not be general obligations of the municipality or county, and in no event shall the revenue bonds constitute an indebtedness of the municipality or county within the meaning of any constitutional or statutory limitation.…

Revenue bonds may be issued hereunder for the purpose of refunding any obligations issued hereunder. Such refunding bonds may be combined with bonds issued under the provisions of Section 3 of this act into a single issue. When bonds are issued under this section for refunding pu…

Subject to the subsequent provisions of this section, there shall exist a statutory mortgage lien upon the lands, buildings, and/or facilities acquired, constructed, reconstructed, extended, equipped, or improved, in whole or in part, with the proceeds of revenue bonds issued und…

In the event of a default in the payment of the principal of or interest on any revenue bonds issued under this act, any court having jurisdiction may appoint a receiver to take charge of the lands, buildings, and/or facilities acquired, constructed, reconstructed, extended, equi…

Bonds issued under the provisions of this act shall be exempt from all state, county, and municipal taxes. This exemption includes income and inheritance taxes. Added by Laws 1961, p. 474, § 10, emerg. eff.Aug. 8, 1961.

Wherever used or referred to in this act, unless a different meaning clearly appears from the context: (a) "Trustees" means the trustees appointed by the governing body of any municipality or the board of county commissioners to carry out the provisions of this act, and as provid…

$500 - Meetings of trustees - Records. In all cases where the trustees shall contract for the payment of Two Thousand Dollars ($2,000.00) or more for the purchase of any materials, equipment, or supplies or for the construction of facilities, said contract shall be made only, aft…

distribution systems. The provisions of this act shall not be applicable to nor used by a municipality or county or trust for the purpose of purchasing, condemning, or otherwise acquiring a utility plant or distribution system owned or operated by a regulated public utility. Adde…

This act is intended to supplement all constitutional provisions and other acts now existing or hereafter adopted designed to secure and develop industry and, when applicable in accordance with the provisions hereof, may be used by any municipality or county as an alternative not…

This act may be cited as the "Oklahoma Enterprise Zone Act". Added by Laws 1983, c. 168, § 1, emerg. eff. June 6, 1983.

A. Upon adoption of a resolution by a majority of the members of each board of county commissioners of an enterprise district or of the governing bodies of each member city or town of an enterprise district, and pursuant to the recommendation of the Authority, said boards or gove…

Nature of bonds - Payment of principal and interest. A. If at the election three-fifths of the voters of each county or city or town voting thereon shall vote in favor of the issuance of the bonds, the boards of county commissioners or the governing bodies of each city and town o…

The Authority shall establish and administer a program of venture capital loans to enterprises seeking to establish or expand facilities within an enterprise district. As part of such program, it shall be the duty of the Authority to solicit written proposals from enterprises see…

Prior to the loaning of any funds to an enterprise for building and equipment, the Authority shall receive from such enterprise a loan application in the form adopted by the Authority which shall contain, without being limited to, the following provisions: 1. A general descriptio…

The Authority shall hold such hearings and examinations as to each loan application received as shall be necessary to determine whether the public purposes of this act will be accomplished by the granting of loans requested. When the Authority shall have determined the facts to b…

remedies. A. When it has been determined by the Authority, upon application of an enterprise and hearing thereon in the manner provided in this act, that a particular project referred to in such application will accomplish the purposes of this act, the Authority may contract to l…

A. There is hereby created a special account to be known as the "Enterprise District Loan Fund", to which fund shall be credited all monies received as loan capital by the Authority from the sale of general obligation bonds. To this fund there shall also be deposited and credited…

The accounts and books of the Authority, including its receipts, disbursements, contracts, mortgages, investments and other matters relating to its finances, operations and affairs shall be examined and audited annually by the State Auditor and Inspector as provided by law. Added…

The Oklahoma Department of Commerce shall select a number of enterprise zones whether county, municipal or federal for which the state may provide additional resources or programs. Such enterprise zones shall be known as Priority Enterprise Zones. The criteria for selection of th…

The Oklahoma Department of Commerce shall produce an annual report by October 15 of each year for the Governor, the Speaker of the House of Representatives and the President Pro Tempore of the Senate regarding the performance of the zones. Information in the report shall include …

For the purposes of Section 690.1 et seq. of this title: 1. "Authority" means an "Enterprise District Management Authority" created pursuant to Section 690.7 of this title; 2. "Building" means a structure consisting of a foundation, walls, roof and other parts necessary to its oc…

The provisions of this act shall not operate as a limitation upon any benefit conferred upon an enterprise prior to July 1, 1999. An enterprise which has previously qualified for a benefit or incentive pursuant to Section 690.1 et seq. of Title 62 of the Oklahoma Statutes prior t…

A. On July 1 of each year, the Oklahoma Department of Commerce shall designate as enterprise zones those counties which meet the criteria set out in subparagraph a of paragraph 5 of Section 690.2 of this title or cities or towns or areas contiguous to cities or towns which meet t…

A. The following benefits and incentives shall be available to qualified enterprises: 1. Two times the amount of investment tax credits as provided in subsection A of Section 2357.4 of Title 68 of the Oklahoma Statutes. For purposes of this act and for purposes of computing the t…

Any enterprise may request from the Oklahoma Employment Security Commission or the Oklahoma Department of Commerce a list of designated enterprise zones. The boards of county commissioners of counties and the governing bodies of any city or town designated enterprise zones shall …

A. The boards of county commissioners of at least three but no more than six contiguous enterprise zones are authorized, by adoption of a resolution by a majority of the members of each board, to form an enterprise district. B. The governing body of at least three but no more tha…

Each enterprise district formed pursuant to Section 690.6 of this title shall create, by adoption of a resolution by a majority of the members of each board or governing body, an authority to be known as the "Enterprise District Management Authority". Each Authority created pursu…

- Compensation - Conflict of Interest - Eligibility - Treasurer's bond. A. The boards of county commissioners of each member county of an enterprise district or the governing bodies of each member city or town of an enterprise district shall appoint, from their respective countie…

The Authority is hereby authorized and empowered: 1. To adopt bylaws for the regulation of its affairs and conduct of its business; 2. To adopt an official seal and alter the same; 3. To maintain an office at such place or places within the enterprise district as it may designate…

62 O.S. § 691.1 Repealed by Laws 2003, c. 8, § 6, eff. July 1, 2003

62 O.S. § 691.2 Repealed by Laws 2003, c. 8, § 6, eff. July 1, 2003

62 O.S. § 691.3 Repealed by Laws 2003, c. 8, § 6, eff. July 1, 2003

62 O.S. § 691.4 Repealed by Laws 2003, c. 8, § 6, eff. July 1, 2003

62 O.S. § 691.5 Repealed by Laws 2003, c. 8, § 6, eff. July 1, 2003

This act shall be known and may be cited as the "Oklahoma Bond Oversight and Reform Act". Added by Laws 1987, c. 222, § 91, operative July 1, 1987. Amended by Laws 2012, c. 275, § 1, eff. Nov. 1, 2012.

62 O.S. § 695.10 Repealed by Laws 1994, c. 322, § 34, eff. July 1, 1994

A. As used in this section, "public finance service provider" means underwriters, bond or other legal counsel, financial advisors, consultants, and financial institutions who serve as trustee, paying agent or in any fiduciary capacity, who seek to provide services to State Govern…

and approval of Deputy Treasurer for Debt Management. The provisions of The Oklahoma Central Purchasing Act shall not be applicable to any actions of a State Governmental Entity in regard to the sale and issuance of its obligations, including any contracts and undertakings relati…

NOTE: Subsequent to repeal, this section was amended by Laws 2012, c. 304, § 467 to read as follows: A. In the event either the Executive or Legislative Bond Oversight Commission is found unconstitutional by a final, unappealed order of a court of competent jurisdiction, all of t…

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Treasurer for Debt Management. Notwithstanding any other provision of law, a State Governmental Entity, as such term is defined in Section 695.3 of this title, is authorized to issue refunding bonds for the purpose of refinancing existing bonds or obligations without further auth…