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0 chapters · 1,526 sections in this title.
74 O.S. § 5060.53 Use of monies from Research Support Revolving Fund
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A. The Oklahoma Center for the Advancement of Science and Technology (OCAST) may use monies from the Research Support Revolving Fund to carry out the purposes of the Oklahoma Science and Technology Research and Development Act by awarding competitive basic and applied plant scien…
74 O.S. § 5060.54 Requirements for professional service contracts to
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support basic or applied plant science research projects. No professional service contract shall be awarded by the Oklahoma Center for the Advancement of Science and Technology (OCAST) to support a basic or applied plant science research project unless: 1. The investigators are r…
74 O.S. § 5060.6 Board of directors
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A. The board of directors for the Oklahoma Science and Technology Research and Development (OSTRaD) Board shall consist of nine (9) members and shall be comprised as follows: 1. Four members appointed by the Governor as follows: a. two members representing a higher education inst…
74 O.S. § 5060.7 Executive director and other officers - Meetings -
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Conflicts of interest - Liability. A. The position of president of the Oklahoma Center for the Advancement of Science and Technology is hereby reconstituted as the executive director for the Oklahoma Science and Technology Research and Development Board. The president of the Cent…
74 O.S. § 5060.8 Annual business plan - Five-year strategic plan
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The Oklahoma Science and Technology Research and Development Board shall develop an annual business plan and a five-year strategic plan for the Center and the Institute. Added by Laws 1987, c. 222, § 23, operative July 1, 1987. Amended by Laws 2002, c. 484, § 8, eff. July 1, 2002…
74 O.S. § 5060.9 Powers of Oklahoma Science and Technology Research and
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Development Board - Tax exemptions - Administrative policies. A. The Oklahoma Science and Technology Research and Development Board shall have the power to: 1. Make, amend and repeal bylaws for the management of the Center; 2. Sue and be sued; 3. Make contracts and execute all in…
74 O.S. § 5062.1 Short title
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Sections 50 through 70 of this act shall be known and may be cited as the "Oklahoma Development Finance Authority Act". Added by Laws 1987, c. 222, § 49, operative July 1, 1987.
74 O.S. § 5062.10 Bonds
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A. The Authority shall have the power and is hereby authorized to borrow money and to issue its bonds in such principal amounts as the Authority determines shall be necessary to provide sufficient funds for: (a) the providing of financing for all or any part of any projects of th…
74 O.S. § 5062.11 Tax exemption for bonds
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The bonds authorized pursuant to the Oklahoma Development Finance Authority Act and the income therefrom, whether or not the interest on which is subject to federal income taxation, shall be exempt from all taxation in this state except for inheritance, estate or transfer taxes; …
74 O.S. § 5062.12 Insurance fund
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The Oklahoma Development Finance Authority is authorized to create an insurance fund consisting solely of funds deposited pursuant to Section 81 of this act. Said insurance fund shall be held in the custody of one or more banks or trust companies having a principal place of busin…
74 O.S. § 5062.13 Investment in securities of Oklahoma Development
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Finance Authority. The bonds, debentures, notes or other evidence of indebtedness of the Oklahoma Development Finance Authority are hereby made securities in which all public officers and bodies of this state, all municipalities and municipal subdivisions, all insurance companies…
74 O.S. § 5062.14 Authority - State tax exemption
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The Oklahoma Development Finance Authority shall be and is hereby exempt from all franchise, corporate, business and other taxes of any nature levied by the state, provided that nothing herein shall be construed to exempt from such taxes any person receiving financing assistance …
74 O.S. § 5062.15 Pledge against limitation or alteration of rights of
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bond owners. The State of Oklahoma does hereby pledge to and agree with the owners of any bonds issued under this act that the state will not limit or alter the rights hereby vested in the Authority to fulfill the terms of any agreements made with the owners thereof or in any way…
74 O.S. § 5062.16 Covenant and consent to inclusion of interest on bonds
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in gross income. The Authority may covenant and consent that the interest on certain of its bonds shall be includable under the Internal Revenue Code of 1986, as amended, or any subsequent corresponding internal revenue law of the United States in the gross income of the owners t…
74 O.S. § 5062.17 Construction of act
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This act shall be liberally construed. Nothing contained herein is or shall be construed as a restriction or limitation upon any powers which the Authority might otherwise have under any other law of this state heretofore or hereafter enacted, and the provisions of this act are c…
74 O.S. § 5062.18 Bonds of Oklahoma Development Finance Authority not to
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compete with bonds of certain state agencies. Notwithstanding any provision herein to the contrary, the Oklahoma Development Finance Authority shall not participate in financing programs nor issue bonds which compete with or are similar in nature to those obligations authorized f…
74 O.S. § 5062.19 Annual report - Matters included - Compliance with
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G.A.O. auditing standards. A. Within sixty (60) days after the end of each fiscal year, the Oklahoma Development Finance Authority shall, in its annual report, account for: 1. The manner in which the purpose as described in Section 5062.1 et seq. of this title has been carried ou…
74 O.S. § 5062.2 Statement of need - Oklahoma Development Finance
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Authority created - Status A. Lack of response in this state to fundamental changes in national and international markets has created an economic hardship as manifested by high levels of unemployment and bankruptcy. Structural changes in global capital markets and real goods mark…
74 O.S. § 5062.20 Annual report - Publication - Distribution - Contents
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- Recommendations. The Oklahoma Development Finance Authority shall publish and present an annual report to the Governor, the Speaker of the House of Representatives, the President Pro Tempore of the Senate, and Oklahoma Futures, setting forth in detail the operations and transac…
74 O.S. § 5062.21 Evaluation of Authority's performances
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Seven (7) years after the Oklahoma Development Finance Authority has begun operations, Oklahoma Futures shall review, analyze and evaluate the extent to which the Authority has achieved its statutory need and mission. The evaluation shall include, but not be limited to, an examin…
74 O.S. § 5062.22 Cooperation and services of other state officers and
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agencies. All officers, departments, boards, agencies, divisions, and commissions of this state including, but not limited to, the Oklahoma Department of Commerce, the State Department of Health, the Department of Transportation, the Oklahoma Securities Commission and the Office …
74 O.S. § 5062.3 Mission of Oklahoma Development Finance Authority -
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Public policy. A. The mission of the Oklahoma Development Finance Authority shall be to take into account and develop its policies based upon the following findings: 1. Fundamental changes have occurred in national and international markets for goods and services produced by the …
74 O.S. § 5062.30 Short title
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Sections 2 through 8 of this act shall be known and may be cited as the “Military Base Protection and Expansion Incentive Act”. Added by Laws 2007, c. 349, § 2, emerg. eff. June 4, 2007.
74 O.S. § 5062.31 Legislative findings
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The Legislature finds: 1. It is in the best interest of the State of Oklahoma to ensure the continued location and expansion of established military bases and facilities in this state; 2. Growth to political subdivisions as a result of the presence and expansion of military bases…
74 O.S. § 5062.32 Definitions
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As used in the Military Base Protection and Expansion Incentive Act: 1. “Authority” means the Oklahoma Development Finance Authority; 2. “Capital project” means the acquisition, construction, expansion, replacement, or renovation of a municipal, county or school district facility…
74 O.S. § 5062.33 Loan program - Funding for issuers
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There is hereby created a loan program, the purpose of which is to protect and retain established military bases and facilities and to support additional and expanded employment at such bases and facilities. The program shall provide funding to qualified issuers to finance capita…
74 O.S. § 5062.34 Oklahoma Development Finance Authority - Issuance of
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bonds - Titles and Liens - Deferrals. A. When a qualified issuer that is or will be impacted by growth at a military installation, proposes to acquire or construct a capital project, the Oklahoma Development Finance Authority may serve as conduit issuer for the capital project in…
74 O.S. § 5062.35 Appropriations - Repayment - Bonds
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A. It is the intent of the Legislature to appropriate monies to the Oklahoma Department of Commerce in a total amount not to exceed Five Million Dollars ($5,000,000.00) per year for the purpose of funding interest payments of obligations issued by the Authority pursuant to this a…
74 O.S. § 5062.36 Military Base Protection and Expansion Bond Fund -
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Separate accounts. A. There is hereby created within the State Treasury a special fund for the Department of Commerce to be designated as the “Military Base Protection and Expansion Bond Fund”. All monies deposited into the fund shall be used and expended by the Department solely…
74 O.S. § 5062.4 Relationship with Oklahoma Futures - Annual business
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plan. The Oklahoma Development Finance Authority shall exercise the powers granted to it in a manner consistent with each five-year plan developed by Oklahoma Futures for the activities and programs of the Authority. The Oklahoma Development Finance Authority shall submit a propo…
74 O.S. § 5062.5 Definitions
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As used in the Oklahoma Development Finance Authority Act: 1. "Authority" means the Oklahoma Development Finance Authority; 2. "Agricultural enterprise" means facilities for farms, ranches, other agricultural, silvicultural or aquacultural commodity operations, and related busine…
74 O.S. § 5062.6 Oklahoma Development Finance Authority and Oklahoma
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Industrial Finance Authority. A. Upon certification by the Governor of a public trust as qualifying to become the Oklahoma Development Finance Authority, the board of trustees of such trust shall become the governing board of the Oklahoma Development Finance Authority with the ad…
74 O.S. § 5062.6a Program Development and Credit Review Committee -
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Creation - Membership - Meetings - Personal interest in contracts - Personal liability - Duties. A. There is hereby created the Program Development and Credit Review Committee within the Oklahoma Development Finance Authority. The committee shall be composed of three (3) members …
74 O.S. § 5062.7 President - Appointment - Powers and duties
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A. The board of directors of the Oklahoma Development Finance Authority shall appoint a president who shall direct and supervise the administrative affairs and the general management of the Authority. The board shall establish criteria for selecting the president taking into cons…
74 O.S. § 5062.8 See the following versions:
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OS 74-5062.8v1 (SB 1050, Laws 2021, c. 204, § 13). OS 74-5062.8v2 (SB 1049, Laws 2021, c. 203, § 12).
74 O.S. § 5062.8v1 Powers of authority
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The Oklahoma Development Finance Authority is hereby granted, has and may exercise all powers necessary or appropriate to carry out and effectuate its corporate purposes including, without limiting the generality thereof, the following: 1. To adopt, amend and repeal rules and reg…
74 O.S. § 5062.8v2 Powers of authority
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The Oklahoma Development Finance Authority is hereby granted, has and may exercise all powers necessary or appropriate to carry out and effectuate its corporate purposes including, without limiting the generality thereof, the following: 1. To adopt, amend and repeal rules and reg…
74 O.S. § 5062.9 Liability of Authority personnel - Indemnification of
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legal expenses. No member of the Authority, no member of the board and no officer or employee of the Authority may be subject to any personal liability or accountability for having acted within the course and scope of his membership, office or employment to carry out any power or…
74 O.S. § 5063.1 Short title
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Sections 5063.1 through 5063.19, including Sections 5063.4a through 5063.4i, of this title shall be known and may be cited as the "Credit Enhancement Reserve Fund Act". Added by Laws 1987, c. 222, § 71, operative July 1, 1987. Amended by Laws 1993, c. 275, § 38, eff. July 1, 1994…
74 O.S. § 5063.10 Depositories for Fund assets
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The monies or other assets designated a part of the Fund shall be deposited in such account or accounts in such depository or depositories as the board of directors may direct by resolution. Added by Laws 1987, c. 222, § 80, operative July 1, 1987.
74 O.S. § 5063.11 General obligation bonds - Authority to issue -
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Written plan for issuance. A. The Oklahoma Development Finance Authority is hereby authorized to issue bonds of the State of Oklahoma, to be known as Credit Enhancement Reserve Fund General Obligation Bonds, in a total principal amount not to exceed One Hundred Million Dollars ($…
74 O.S. § 5063.12 Term of bonds - Direct or private placement sale -
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Notice of sale - Bids and bidding. The bonds shall have such terms and may be issued in accordance with the applicable provisions of the Oklahoma Development Finance Authority Act, Section 5062.1 et seq. of this title, except that the bonds shall mature no later than twenty-five …
74 O.S. § 5063.13 Resolution of board of directors - Trust indentures
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A. All bonds issued hereunder shall be authorized by resolution of the board of directors. Each such resolution shall contain such terms, covenants and conditions applicable to the bonds as are deemed desirable. All bonds issued under this act shall be on a parity as to security.…
74 O.S. § 5063.14 Signing bond - Seal - Delivery
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Each bond shall be signed by the facsimile signatures of the chairman of the board of directors of the Oklahoma Development Finance Authority and the Secretary of the board of the Authority, and shall have affixed or imprinted thereon the seal of the Authority. Delivery of the bo…
74 O.S. § 5063.15 Sale of bonds - Fiscal agents and legal counsel
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Bonds at any time sold under the provisions of Section 5063.1 et seq. of this title shall be sold in the manner prescribed in Section 5063.12 of this title. The Authority may employ, if it determines that such action is desirable, fiscal agents and legal counsel and may pay them …
74 O.S. § 5063.16 Bonds as general obilgation of state
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All bonds issued pursuant to the Credit Enhancement Reserve Fund Act shall be direct general obligations of the State of Oklahoma, for the payment for the debt service on which the full faith and credit of the State of Oklahoma are hereby irrevocably pledged so long as any such b…
74 O.S. § 5063.17 Debt service - Appropriations - Reserve funds
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A. Before the commencement of each legislative session, the Director of the Office of Management and Enterprise Services shall determine the estimated amount required during the next fiscal year for payment of the debt service on the bonds issued under this act, after making dedu…
74 O.S. § 5063.18 State tax exemption
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The bonds authorized pursuant to this act, and interest thereon, shall be exempt from all taxation in this state except for inheritance, estate or transfer taxes; and all security agreements and financing agreements made pursuant to the provisions of this act shall be exempt from…
74 O.S. § 5063.19 Investment in securities of Oklahoma Development
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Finance Authority. The bonds issued pursuant to this act are hereby made securities in which all public officers and bodies of this state, all municipalities and municipal subdivisions, all insurance companies and associations and other persons carrying on an insurance business, …
74 O.S. § 5063.2 Definitions
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All terms used in the Credit Enhancement Reserve Fund Act shall have the meanings set forth in the Oklahoma Development Finance Authority Act, except as expressly referred to below. In addition, as used in the Credit Enhancement Reserve Fund Act, the following words shall have th…