Title 62 — Title 62 — Public Finance

public depository. When public deposits are made in accordance with the Security for Public Deposits Act, the State Treasurer shall not be liable for any loss resulting from the default or insolvency of a public depository in the absence of negligence, malfeasance, misfeasance or…

boards and commissions - Bonds of treasurer. The State Treasurer is hereby designated and made the official depository for all monies, funds, rentals, penalties, costs, proceeds of sale of property, fees, fines, forfeitures and public charges of every kind that may be received by…

Sections 1 through 12 of this act shall be known and may be cited as the "General Obligation Public Securities Refunding Act". Added by Laws 1984, c. 255, § 1, emerg. eff. May 30, 1984.

As used in the General Obligation Public Securities Refunding Act: 1. "Escrow supplement" means any legally available funds or moneys, other than bond proceeds, of a public body, which are placed in an escrow or trust account established pursuant to the provisions of the General …

public accountant - Accomplishment of refunding without election. A. A refunding of outstanding obligations of a public body pursuant to the provisions of the General Obligation Public Securities Refunding Act shall only occur for the following purposes: 1. Avoiding or terminatin…

have certain effects. The issuance of general obligation refunding bonds pursuant to the General Obligation Public Securities Refunding Act, to refund all or any portion of outstanding general obligation bonds shall not have the effect of extinguishing the requirements of either …

Competitive bidding - Excluded bidders - Conditions of refunding - Escrow supplements - Issuance of refunding bond. A. Any general obligation bonds issued or incurred by any public body may be refunded by the public body issuing or incurring the general obligations or any success…

of bond issue - Notice. Prior to voting on refunding or altering the original terms of the bond issue involved, the entity involved must hold a public hearing to advise the public of the terms, conditions, fees and expenses involved. Notice of such hearing must be given at least …

Redemption - Recitals. A. The principal amount of the refunding bonds may be less than, more than, or the same as the principal amount of the obligations being refunded, if there is a provision for the payment in full and discharge of such refunded obligations. The principal amou…

accounts. A. The proceeds derived from the issuance of refunding bonds pursuant to the provisions of the General Obligation Public Securities Refunding Act, together with other legally available funds, if any, of the public body, shall either be immediately applied to the payment…

- Sufficiency. A. Moneys placed in any escrow or trust account shall not necessarily be limited to proceeds of refunding bonds but may include other moneys legally available for that purpose. B. Any moneys in an escrow or trust account, pending use for their intended purpose, may…

Any refunding bonds and bonds for any other purpose authorized by law may, in the discretion of the governing body, be issued separately or in combination in one or more series by the public body, subject to the same limitations provided for in subsection C of Section 4 of this a…

complied with. The determination of the governing body that the provisions and limitations contained in the General Obligation Public Securities Refunding Act and in any other applicable law and imposed upon the issuance of any bonds pursuant to the provisions of the General Obli…

All general obligation refunding bonds issued pursuant to the provisions of the General Obligation Public Securities Refunding Act shall be examined by the Attorney General as ex officio Bond Commissioner in the manner provided for by law for general obligation bonds. Added by La…

transactions prohibited. Nothing in the General Obligation Public Securities Refunding Act shall be construed so as to impair the obligations of any refunding bonds issued or any refunding transaction consummated by a public body prior to the effective date of this act, or otherw…

The powers conferred by the General Obligation Public Securities Refunding Act are in addition to and supplemental to and are not in substitution for the powers conferred by any other law. Bonds may be issued pursuant to the provisions of the General Obligation Public Securities …

state treasury - Report to State Auditor and Inspector. All monies that shall be received during any calendar month by any state officer, state board, state commission or the members or employees of either thereof, accruing as a part of state's general revenue or any other approp…

It shall be the duty of the State Treasurer and he is hereby empowered to institute in the name of the state the necessary suits, actions and proceedings to enforce the provisions of this act, and in the event of the neglect, failure or refusal of the State Treasurer to bring suc…

This act shall be known and may be cited as the "Municipal and County Economic and Community Development Bonds Act". Added by Laws 1991, c. 142, § 1, emerg. eff. May 1, 1991. Amended by Laws 2003, c. 433, § 1, eff. July 1, 2003.

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The Legislature hereby finds and declares that there is a need to establish terms regarding the purposes for which bonds may be issued under Section 35 of Article X of the Oklahoma Constitution and terms under which such bonds may be sold and issued by municipalities and counties…

A. There is hereby created within the Legislature the Legislative Office of Fiscal Transparency (LOFT). The purpose of the Office shall be to assist the Legislature in performing its constitutional and statutory function of ensuring that government funds are expended in a fiscall…

A. The Legislative Office of Fiscal Transparency (LOFT) shall: 1. Gather information regarding the proposed budgets of executive branch agencies each fiscal year; 2. Analyze the information and evaluate the extent to which the agency budget does or does not fulfill the agency’s p…

A. There is hereby created within the Legislature a committee to oversee the operations of the Legislative Office of Fiscal Transparency. The committee shall consist of fourteen (14) members, as follows: 1. Seven members of the Senate, at least two of whom shall be members of the…

cooperate. A. Each agency or institution of the state shall, upon request, furnish and make available to the Legislative Office of Fiscal Transparency all records, documents, materials, personnel, information or other resources as the Office deems necessary to conduct performance…

The Legislative Office of Fiscal Transparency shall prepare and submit to the oversight committee a report of its findings for each performance evaluation or independent comprehensive performance audit conducted. Such reports shall be available to the public, other than with resp…

A. The Legislative Office of Fiscal Transparency (LOFT) shall provide independent and reliable economic analysis to assist the Legislature in reviewing proposed administrative rules of state agencies classified as major rules pursuant to the Administrative Procedures Act. Unless …

As used in the Municipal and County Economic and Community Development Bonds Act: 1. "Amortization" means the reduction of bonded indebtedness by making annual or fiscal year payments of principal and interest sufficient to pay off bonds by their stated maturity; 2. "Annual matur…

registration of advisers and brokers. Whenever any municipality or county of this state votes any bonds or refunding bonds pursuant to Section 35 of Article X of the Oklahoma Constitution, such bonds shall be subject to the following requirements: 1. At least ninety percent (90%)…

for bids - Acceptance of bids - Contestability. Except as otherwise provided in the Municipal and County Economic and Community Development Bonds Act, bonds sold pursuant to Section 35 of Article X of the Oklahoma Constitution shall be issued pursuant to the following terms: 1. B…

Any official or employee thereof or any member or employee of any state board or state commission who shall fail, neglect or refuse to comply with the requirements of Section two (2) hereof, or any other provision of this act, shall forfeit and pay to the use of the State of Okla…

All interest which shall be received by the State Treasurer upon monies paid into the state depository, to the credit of the Commissioner of Highways, by any county, to be expended for the construction of bridges or highways, shall be credited to the fund which shall earn the sam…

This act shall be known and may be cited as the “Regional Economic Development District Act”. Added by Laws 2001, c. 318, § 1, eff. Nov. 8, 2002.

constitutional amendment. The Regional Economic Development District Act is intended to implement and execute paragraph (h) of Section 35 of Article X of the Constitution of the State of Oklahoma as amended pursuant to the provisions of Enrolled House Bill No. 1198 of the 1st Ses…

As used in the Regional Economic Development District Act: 1. “Bonds” means any bonds, notes, certificates of participation or other evidences of indebtedness issued pursuant to Section 35 of Article X of the Oklahoma Constitution; 2. “Department” means the Oklahoma Department of…

Governmental entities of which comprised. Regional Districts may be created pursuant to the provisions of this act, to assist in financing economic development projects which have a substantial regional economic impact, by allowing municipalities and counties comprising such dist…

Project Plan. A. Upon a request by the Governor, the Oklahoma Department of Commerce shall prepare a Preliminary Project Plan relating to a proposed project. This Preliminary Project Plan shall set forth the following information: 1. A description of the economic development proj…

Election proclamation. A. After receipt and review of the Final Project Plan, the Governor shall either approve the Final Project Plan and the terms and conditions contained therein, or the Governor shall reject the plan and return it to the Oklahoma Department of Commerce along …

sufficient financial resources. If the voters of one or more of the municipalities or counties listed in the Final Project Plan approve the authorization of bonds issued pursuant to this act, the Governor shall determine, with the assistance of the Department, whether the bonds a…

by Attorney General. Once a Regional District has been established by the Governor, the governing bodies of each of the Participating Entities comprising such district shall take all actions required by law for the issuance of the type of bonds described in the Final Project Plan…

Special limited obligations – Investment by financial and insurance companies. A. Bonds issued pursuant to this act shall: 1. Be issued in one or more series; 2. Bear such date or dates; 3. Mature at such time or times not exceeding twenty-five (25) years from their date; 4. Be i…

Notice – Conclusiveness of determination. A. The Governor is hereby authorized to file an application, at the Governor's discretion, with the Supreme Court of Oklahoma for the validation of any bonds to be issued hereunder or for any writ, including mandamus, which may lie in rel…

All proceeds received by a Participating Entity from the sale of bonds shall be transferred to a public trust created pursuant to the provisions of Section 176 et seq. of Title 60 of the Oklahoma Statutes, which public trust shall have among its beneficiaries, all of the Particip…

The powers conferred by this act shall be in addition and supplemental to the powers conferred by any other law. Added by Laws 2001, c. 318, § 12, eff. Nov. 8, 2002.

Sections 840 through 847 of this title and Section 2357.81 of Title 68 of the Oklahoma Statutes shall be known and may be cited as the “Oklahoma Local Development and Enterprise Zone Incentive Leverage Act”. Added by Laws 2000, c. 339, § 9, eff. July 1, 2000. Amended by Laws 2008…

As used in the Oklahoma Local Development and Enterprise Zone Incentive Leverage Act: 1. “Enterprise” means any form of business organization including, but not limited to, any partnership, sole proprietorship, corporation, limited liability company or other legally constituted b…