Okla. Stat. tit. 62, § 62-421 — OK Code / Title 62 / Section 62-421
Bond issue for refunding indebtedness - Authorization -
Status: in_force

Exchange or sale - Interest - Maturity.

Any county, city, town, township, board of education, school

district, or any other municipal corporation in this state, whether

operating under the provision of a special charter or otherwise, is

hereby authorized and empowered to issue its bonds for the purpose

of refunding bonded and/or coupons indebtedness, outstanding for

more than two (2) years, and to issue new bonds with interest

representing the rate of interest agreed upon, in payment for any

amount of outstanding bonded and coupon indebtedness; which bonds

may be exchanged pursuant to agreement with the holders of such

indebtedness, or sold for not less than their par value, in the

manner now or hereafter provided by law for the sale of other bonds

of such municipalities, or any of them, and the proceeds of said

sale applied to the redemption of the bonds to be refunded. If said

bonds are offered for sale, and no legally accepted bids are

received at said sale, the county, city, town, township, board of

education, school district, or other municipal corporation issuing

such refunding bonds, in its discretion, may either again offer such

bonds for sale, or may exchange such refunding bonds, on a par for

par basis, for the bonds, and interest, to be refunded; provided,

however, if an agreement has been made for the exchange of such

bonds the same shall be exchanged, as herein provided, without first

having been offered for sale. Whether such refunding bonds are sold

or exchanged, they shall be delivered only upon simultaneous

surrender, payment and cancellation of a like amount of the bonds to

be refunded, inclusive of the interest accrued thereon. Such

refunding bonds may be issued in such amount, or amounts, that the

par value thereof, plus accrued interest to date of delivery, shall

equal, but not exceed, the par value of the bonds and/or coupons to

be refunded to the date of the delivery and cancellation thereof.

Said refunding bonds shall bear interest at any rate not exceeding

the maximum rate provided by Section 498.1 of this title, and shall

mature serially and in substantially equal installments, beginning

not less than three (3) nor more than five (5) years after the date

Oklahoma Statutes - Title 62. Public Finance Page 420

of said bonds; provided, however, that the last maturing installment

may be for such sum less than two installments as will complete the

full issue of such bonds, notwithstanding the necessity of varying

the amount thereof to complete the same.
Okla. Stat. tit. 62, § 62-36 — OK Code / Title 62 / Section 62-36
Digital Transformation Program Revolving Fund
Status: in_force

A. There is hereby created in the State Treasury a fund for the

Office of Management and Enterprise Services to be designated the

"Digital Transformation Program Revolving Fund". The fund shall be

a continuing fund, not subject to fiscal year limitations, and shall

consist of monies designated to the fund by law. All monies

accruing to the credit of the fund are hereby appropriated and may

be budgeted and expended by the Office of Management and Enterprise

Services for the purpose of implementing digital transformation

initiatives, and upon request of the Oklahoma Department of

Commerce, to pay for administrative support expenses for the Rural

Broadband Expansion Council as provided by Section 3 of this act.

Expenditures from the fund shall be made upon warrants issued by the

State Treasurer against claims filed as prescribed by law with the

Director of the Office of Management and Enterprise Services for

approval and payment.

B. Monthly the Director of the Office of Management and

Enterprise Services shall submit reports to the Speaker of the

Oklahoma House of Representatives, the President Pro Tempore of the

Oklahoma State Senate, the Chair of the Appropriations and Budget

Committee of the Oklahoma House of Representatives and the Chair of

the Appropriations Committee of the Oklahoma State Senate detailing:

1. Expenditures from the Digital Transformation Program

Revolving Fund; and

2. Projects under consideration for future expenditures from

the fund.

Oklahoma Statutes - Title 62. Public Finance Page 157
Okla. Stat. tit. 62, § 62-186 — OK Code / Title 62 / Section 62-186
School for blind - Revolving fund created
Status: in_force

There is hereby created a revolving fund for the Oklahoma

School for the Blind at Muskogee, to be available for the purposes

herein set forth and enumerated.
Okla. Stat. tit. 62, § 62-2003 — OK Code / Title 62 / Section 62-2003
Administration of Rural Economic Action Plan grant program – Distribution of monies -
Status: in_force

Oklahoma Statutes - Title 62. Public Finance Page 22program – Distribution of monies - Limitations.

A. Monies appropriated by law to the Oklahoma Water Resources

Board for the purpose of funding the Rural Economic Action Plan

grant program and the Rural Economic Action Plan Water Projects Fund

shall be administered by the Oklahoma Water Resources Board as

provided by this section.

B. The monies referred to in subsection A of this section shall

be distributed to eligible cities and towns, unincorporated areas or

other qualified entities located within the areas represented by the

following organizations:

1. Association of Central Oklahoma Governments (ACOG);

2. Association of South Central Oklahoma Governments (ASCOG);

3. Central Oklahoma Economic Development District (COEDD);

4. Eastern Oklahoma Economic Development District (EOEDD);

5. Grand Gateway Economic Development Association (GGEDA);

6. Indian Nations Council of Governments (INCOG);

7. Kiamichi Economic Development District (KEDDO);

8. Northern Oklahoma Development Association (NODA);

9. Oklahoma Economic Development Association (OEDA);

10. Southern Oklahoma Development Association (SODA); and

11. South Western Oklahoma Development Authority (SWODA).

C. The monies referred to in subsection A of this section shall

not be expended for the benefit of cities or towns with a population

in excess of seven thousand (7,000) persons according to the latest

Federal Decennial Census. Funds may also be expended for any city

or town with a population below seven thousand (7,000) persons based

upon the current population estimate according to the U.S. Census

Bureau. Funds may be expended for such cities and towns until the

next following Federal Decennial Census. Any municipality may enter

into an agreement with an entity described in subsection B of this

section to apply for available funds described by this section if

the municipality is located within the area served by the entity.

Upon approval of the application, funds shall be paid to the

municipality requesting the funds.

D. An entity described in subsection B of this section may

apply for a grant to be used for the benefit of an unincorporated

area within a county served by that entity if the area benefited

does not contain a population in excess of seven thousand (7,000)

persons. Any county may enter into an agreement with an entity

described in subsection B of this section if the county is located

Oklahoma Statutes - Title 62. Public Finance Page 621

within the area served by the entity. Upon approval of the

application, funds shall be paid to the county requesting the funds.

E. The monies referred to in subsection A of this section may

be expended for water quality projects, including but not limited to

sewer line construction or repair and related storm or sanitary

sewer projects, water line construction or repair, water treatment,

water acquisition, distribution or recovery and related projects.

F. Any city or town with a population less than one thousand

seven hundred fifty (1,750) persons according to the latest Federal

Decennial Census shall have a higher priority for funds allocated by

the Oklahoma Water Resources Board from the amount referred to in

subsection A of this section than jurisdictions of greater size.

Among such cities or towns, those municipalities having relatively

weaker fiscal capacity shall have a priority for project funding in

preference to other municipalities.

G. The Oklahoma Water Resources Board shall establish ten

separate accounts containing one-tenth (1/10) of the amount annually

appropriated to the Rural Economic Action Plan Water Projects Fund

per account. Each account shall be available for distribution to

qualified entities located within the area served by entities

described in subsection A of Section 2007 of this title or for

distribution to benefit unincorporated areas with the exception of

one account which shall be divided equally into two subaccounts.

Each one of the two subaccounts shall be available for distribution

to qualified entities located within the respective jurisdiction of

one of the entities described by subsection B of Section 2007 of

this title or for distribution to benefit unincorporated areas. No

funds deposited into one account or subaccount shall be transferred

to any other account. The total expenditure from any one account or

subaccount for each fiscal year may not exceed the amount of funds

available to each account as may be provided by law.

H. No city, town or other entity to which funds will be awarded

pursuant to this section shall be required to provide any form of

match to obtain the funds, whether through cash, services or any

other method.

I. The Oklahoma Water Resources Board shall not be allowed to

retain any of the funds referred to in subsection A of this section

for administration. All such funds shall be distributed to eligible

entities as authorized by law.

J. In order to ensure fair and equitable distribution of the

funds referred to in subsection A of this section, the Oklahoma

Water Resources Board shall promulgate rules for administering,

determining priority of, approving and funding applications for such

funds. The rules shall implement the provisions of this section

including the following:

Oklahoma Statutes - Title 62. Public Finance Page 622

1. No qualified entity shall be approved nor funded for more

than Three Hundred Fifty Thousand Dollars ($350,000.00) from such

funds in any twelve-month period;

2. If a qualified entity has previously been approved for or

received such funds and makes a subsequent application, that

subsequent application may be assigned lower priority than an

application by qualified entities who have not previously been

approved for or received such funds;

3. In order to prevent substantially the same entity or area

from receiving an undue advantage, a political subdivision and all

its public trusts and similar subordinate entities together shall be

treated as one and the same qualified entity; provided rural water

or sewer districts shall not be construed to be subordinate entities

of counties unless the effect would be to make multiple grants to

substantially the same entity or service area; and

4. The Oklahoma Water Resources Board may establish limited

time periods for processing applications for available funds.
Okla. Stat. tit. 62, § 62-34.94 — OK Code / Title 62 / Section 62-34.94
Separate accounting of revenues attributable to fees
Status: in_force

collected by Oklahoma Board of Private Vocational Schools.

Oklahoma Statutes - Title 62. Public Finance Page 126

The Office of Management and Enterprise Services shall

separately account for and report monthly revenues which it

determines are attributable to fees collected by the Oklahoma Board

of Private Vocational Schools pursuant to Section 21-106 of Title 70

of the Oklahoma Statutes. The Office of Management and Enterprise

Services shall track the fee revenue deposited by the Board on a

fiscal year basis and shall provide an accounting to the Governor,

the Speaker of the House of Representatives and the President Pro

Tempore of the Senate within thirty (30) days after the end of the

fiscal year.
Okla. Stat. tit. 62, § 62-57.304 — OK Code / Title 62 / Section 62-57.304
Oklahoma Building Bonds of 1992 Sinking Fund - Pledge
Status: in_force

of funds - Transmission of taxes and schedule - Deposit of funds -

Pledges and covenants of state.

A. There is hereby created in the State Treasury a special fund

to be known and designated as the "Oklahoma Building Bonds of 1992

Sinking Fund" which is hereby irrevocably pledged to the payment of

the interest on, and the principal of, the bonds issued pursuant to

this act; the monies to the credit thereof shall be paid out only in

the manner and at the time and places provided for in the resolution

or indenture of the Commission authorizing the issuance of such

bonds.

B. The Oklahoma Tax Commission, when transmitting to the State

Treasurer the collection of the tax on cigarettes shall also

transmit to the State Treasurer a schedule showing the net proceeds

of two cents ($0.02) of the tax on each package of cigarettes levied

by Section 302 of Title 68 of the Oklahoma Statutes and the tax levy

on cigarettes pursuant to Sections 302-2 and 302-4 of Title 68 of

the Oklahoma Statutes. It shall be the duty of the State Treasurer,

upon receiving said taxes and schedules from the Oklahoma Tax

Commission, to deposit in said sinking fund such portions of the tax

or taxes hereinabove pledged to the payment of the bonds issued

hereunder as may be necessary to assure prompt payment of the

interest on, and the principal of, said bonds as the same falls due

and to comply with the covenants hereof with respect to reserve

requirements. Any revenue generated as a result of the tax changes

contained in Enrolled Senate Bill No. 759 of the 2nd Session of the

43rd Oklahoma Legislature shall not be deposited in the Oklahoma

Building Bonds of 1992 Sinking Fund.

C. The tax monies hereinabove pledged to the retirement of said

bonds shall constitute the primary revenue dedicated to the payment

of the interest on, and the principal of, the bonds issued

hereunder, but it is further pledged, for the purchasers, owners and

holders of said bonds, that the State of Oklahoma, if and when it

shall appear to be necessary hereby devotes irrevocably to the

payment of the interest on and the principal of said bond, any

monies in the General Revenue Fund of the State of Oklahoma not

otherwise obligated, committed or appropriated, and the State

Treasurer is directed to apply such General Revenue Fund of the

State of Oklahoma for such purpose. The State of Oklahoma further

pledges to the purchasers, owners and holders of said bonds that it

will, if and when it shall appear to be necessary, impose and

collect a tax and devote the proceeds thereof, or so much thereof as

may be necessary for the purpose of paying the principal and

interest of the bonds issued hereunder as they come due. The bonds

issued hereunder, and the interest thereon, shall be general

obligations of the State of Oklahoma, and the full faith, credit and

Oklahoma Statutes - Title 62. Public Finance Page 283

resources of the State of Oklahoma are pledged to their payment.

The Commission is authorized to incorporate in the face of each of

the bonds issued under this act, pledges the same or substantially

the same as those made herein. The pledges and covenants so made

by the Commission shall constitute the commitment of the State of

Oklahoma, made in full good faith, in its sovereign capacity, and

shall be binding upon said state and the Legislature, officers,

instrumentalities and agents thereof, so long as any of the interest

on, or principal of, said bonds shall remain outstanding and unpaid.

The Commission is authorized to make such other equally binding

covenants and agreements, not inconsistent with this act or the

constitutional amendment identified as House Joint Resolution No.

1076 of the 2nd Session of the 43rd Oklahoma Legislature, as it

deems to be needful and appropriate to the general purpose of

effectuating this act.
Okla. Stat. tit. 62, § 62-57.155 — OK Code / Title 62 / Section 62-57.155
Deposit of proceeds - Investment
Status: in_force

Notwithstanding the provisions of Section 57.133, Title 62 of

the Oklahoma Statutes, to the contrary, the proceeds from the sale

of such Series B Bonds shall be deposited in the State of Oklahoma

Building Bonds of 1968 Sinking Fund, where the proceeds shall remain

subject to disposition as provided for by the Legislature of

Oklahoma, provided that it shall be the duty of each agency to which

an appropriation therefrom is made by Senate Bill No. 656 of the

Second Session of the Thirty-second Legislature to advise in writing

the State Treasurer of the dates and amounts when each such

appropriated sum or portion thereof will be required by such agency

to satisfy its program for the expenditure thereof, such written

advice to be delivered by each such agency to the State Treasurer

within ten (10) days of the sale of such bonds, and it shall be the

duty of the State Treasurer to invest the proceeds from the sale of

such bonds in direct obligations of the United States of America or

in certificates of deposit from banks in Oklahoma acceptable as

depositories by the State Treasurer when such certificates of

deposit are secured by acceptable collateral and yield as much or

more than direct obligations of the United States of America,

maturing at such times and in such amounts as to enable the State of

Oklahoma to issue warrants in the amounts and at the times indicated

by the said agencies in their said written advices to the State

Treasurer, and the income from such investments after June 30, 1972,

shall be deposited by the State Treasurer in the State of Oklahoma

Building Bonds of 1968 Sinking Fund. Any appropriations of such

deposited interest enacted prior to June 30, 1972, for the agency

for which the investment was made may be expended as provided

therein. Any unappropriated amounts of such deposited interest

credited on June 30, 1972, to the agency for which the investment

was made, as formerly authorized by this section, shall be

transferred to the General Revenue Fund.
Okla. Stat. tit. 62, § 62-800 — OK Code / Title 62 / Section 62-800
Short title
Status: in_force

This act shall be known and may be cited as the "Municipal and

County Economic and Community Development Bonds Act".

Oklahoma Statutes - Title 62. Public Finance Page 518
Okla. Stat. tit. 62, § 62-57.163 — OK Code / Title 62 / Section 62-57.163
Schedule of repayment - Interest
Status: in_force

The Series C Bonds shall be serial coupon bonds. Said bonds and

the interest thereon shall be payable at such place or places as may

be designated by the State of Oklahoma Building Bonds Commission.

The Series C Bonds shall mature on January 15, in the years and

amounts, respectively, as follows:

YEAR AMOUNT

1975 $ 75,000.00

1976 80,000.00

1977 85,000.00

1978 90,000.00

Oklahoma Statutes - Title 62. Public Finance Page 266

1979 95,000.00

1980 100,000.00

1981 105,000.00

1982 115,000.00

1983 120,000.00

1984 125,000.00

1985 135,000.00

1986 140,000.00

1987 150,000.00

1988 160,000.00

1989 170,000.00

1990 180,000.00

1991 190,000.00

1992 200,000.00

1993 210,000.00

1994 225,000.00

The Series C Bonds shall bear interest, payable semiannually on

January 15 and July 15 of each year, shall be in such denomination

or denominations, shall be in such form either coupon or registered,

shall carry such registration or conversion privileges, shall be

executed in such manner, shall be payable in such medium of payment

at such place or places, as shall be provided by resolution or

resolutions to be adopted by the State of Oklahoma Building Bonds

Commission; provided, that all such bonds maturing on and after ten

(10) years from their dates may, at the discretion of the

Commission, be made subject to call and redemption, in inverse order

of bond numbers, at par or with premium, and accrued interest, with

the detailed provisions for such calling and redemption thereof and

the amount of the premium, if any, to be fixed by the Commission in

the resolution or resolutions for the issuance of such bonds. Until

such time as the sinking fund shall be sufficient to retire all

outstanding State of Oklahoma Building Bonds of 1968, including

interest thereon, there shall be paid into the sinking fund during

each fiscal year from the sources hereinabove pledged such amounts

as shall be necessary to pay the interest and principal as they

become due. All bonds issued pursuant to this act shall have all

the qualities and incidents of negotiable paper, and neither said

bonds nor the interest earned thereon shall be subject to taxation

by the State of Oklahoma or any county, municipality or political

subdivision thereof.
Okla. Stat. tit. 62, § 62-480 — OK Code / Title 62 / Section 62-480
Violations - Punishment
Status: in_force

Any officer willfully or knowingly contracting, incurring,

acknowledging, authorizing, allowing or approving any indebtedness,

or any officer issuing, drawing, or attesting any warrant or

certificate of indebtedness in excess of the estimate made and

approved by the excise board for such purpose for the current fiscal

year or in excess of the specific amount authorized for such purpose

by a bond issue, or who violates any other provision of Section 471

et seq. of this title, shall be deemed guilty of a misdemeanor, and

upon conviction shall be punished by a fine of not less than One

Thousand Dollars ($1,000.00) or imprisoned in the county jail for

not to exceed one (1) year, or by both the fine and imprisonment,

and shall forfeit and be removed from office pursuant to Section

1181 et seq. of Title 22 of the Oklahoma Statutes or Section 91 et

seq. of Title 51 of the Oklahoma Statutes.
Okla. Stat. tit. 62, § 62-426b — OK Code / Title 62 / Section 62-426b
Term "governing board" defined
Status: in_force

The term governing board as used in this act shall mean the

council or commission of a city; the town council or board of

trustees of a town; the board of education of an independent school

district; and the board of county commissioners for and on behalf of

townships, counties, and dependent school districts.
Okla. Stat. tit. 62, § 62-57.106 — OK Code / Title 62 / Section 62-57.106
Interim bonds
Status: in_force

The Commission is authorized to issue one or more interim bonds

representative of the bonds so sold, which interim bonds may be in

any denomination, shall have all the qualities and be secured by all

the covenants and pledges made to secure the bonds so sold, but said

interim bonds shall represent the bonded debt only until such time

as the definitive bonds are printed, executed and delivered to the

purchaser thereof. No tender of any such interim bonds shall be

valid until the expiration of the period of contestability provided

in this act. Simultaneously with delivery of the definitive bonds,

any such interim bonds shall be surrendered for cancellation and

canceled by the State Treasurer of Oklahoma.
Okla. Stat. tit. 62, § 62-57.108 — OK Code / Title 62 / Section 62-57.108
Legal opinion - Period of contestability - Jurisdiction of contest - Formalities of
Status: in_force

Oklahoma Statutes - Title 62. Public Finance Page 9of contest - Formalities of execution.

Within ten (10) days after the sale or sales of said bonds, the

Attorney General of the State of Oklahoma shall examine all of the

proceedings of the Commission and all resolutions passed and actions

taken by it in connection with the authorization and issuance and

sale of such bonds, and shall, if he finds such bond proceedings and

sale to be constitutional and lawful, execute his certificate and

file the same of record in the Office of the Secretary of State of

the State of Oklahoma, which said certificate shall read

substantially as follows:

"I have examined all proceedings had in connection with the

issuance of the State of Oklahoma Institutional Building Bonds of

1965, Series D, in the aggregate principal amount of Sixteen Million

five Hundred Twenty-five Thousand Dollars ($16,525,000.00), dated

___________, authorized and sold pursuant to Section 37, Article X,

Constitution of Oklahoma, and laws of the State of Oklahoma enacted

pursuant thereto, and find said proceedings and sale to be

constitutional, lawful and regular in all particulars and that said

bonds will be valid legal general obligations of the State of

Oklahoma. Unless suit thereon shall be brought in the Supreme Court

of the State of Oklahoma within thirty (30) days from the date of

this certificate, said bonds shall be incontestable for all

purposes.

Date________________ _________________________________________"

Attorney General of the State of Oklahoma

A facsimile of such Attorney General's certificate shall appear

on each bond so issued. The Supreme Court of Oklahoma is hereby

vested with exclusive jurisdiction over any litigation involving the

validity of any bonds issued under this act. All bonds shall bear

the signature of the Governor and the Secretary of State and shall

bear the certificate required by Section 29, Article X, of the

Constitution of Oklahoma. Such bonds shall also be registered by

the Treasurer of the State of Oklahoma and a statement of such

registration shall appear on the back of each bond. The Commission

Oklahoma Statutes - Title 62. Public Finance Page 250

may, by resolution, prescribe that the seal of the State of

Oklahoma, or the seals of any of the officers thereof, and any or

all signatures required to appear on the bonds or coupons, with the

exception of either the Governor's or the Secretary of State's

signature on the bonds, may be facsimile seals and signatures.
Okla. Stat. tit. 62, § 62-3103v3 — OK Code / Title 62 / Section 62-3103v3
Definitions
Status: in_force

Oklahoma Statutes - Title 62. Public Finance Page 659

As used in the Oklahoma Pension Legislation Actuarial Analysis

Act:

1. “Amendment” means any amendment, including a substitute

bill, made to a retirement bill by any committee of the House of

Representatives or Senate, any conference committee of the House or

Senate or by the House or Senate;

2. “RB number” means that number preceded by the letters “RB”

assigned to a retirement bill by the respective staffs of the

Oklahoma State Senate and the Oklahoma House of Representatives when

the respective staff office prepares a retirement bill for a member

of the Legislature;

3. “Legislative Actuary” means the firm or entity that enters

into a contract with the Legislative Service Bureau pursuant to

Section 452.15 of Title 74 of the Oklahoma Statutes to provide the

actuarial services and other duties provided for in the Oklahoma

Pension Legislation Actuarial Analysis Act;

4. “Nonfiscal amendment” means an amendment to a retirement

bill having a fiscal impact, which amendment does not change any

factor of an actuarial investigation specified in subsection A of

Section 3109 of this title;

5. “Nonfiscal retirement bill” means a retirement bill:

a. which does not affect the cost or funding factors of a

retirement system,

b. which affects such factors only in a manner which does

not:

(1) grant a benefit increase under the retirement

system affected by the bill,

(2) create an actuarial accrued liability for or

increase the actuarial accrued liability of the

retirement system affected by the bill, or

(3) increase the normal cost of the retirement system

affected by the bill,

c. which authorizes the purchase by an active member of

the retirement system, at the actuarial cost for the

purchase as computed pursuant to the statute in effect

on the effective date of the measure allowing such

purchase, of years of service for purposes of reaching

a normal retirement date in the applicable retirement

system, but which cannot be used in order to compute

the number of years of service for purposes of

computing the retirement benefit for the member,

d. which provides for the computation of a service-

connected disability retirement benefit for members of

the Oklahoma Law Enforcement Retirement System

pursuant to Section 2-305 of Title 47 of the Oklahoma

Statutes if the members were unable to complete twenty

(20) years of service as a result of the disability,

Oklahoma Statutes - Title 62. Public Finance Page 660

e. which requires membership in the defined benefit plan

authorized by Section 901 et seq. of Title 74 of the

Oklahoma Statutes for persons whose first elected or

appointed service occurs on or after November 1, 2018,

if such persons had any prior service in the Oklahoma

Public Employees Retirement System prior to November

1, 2015,

f. which provides for a one-time increase in retirement

benefits if the increase in retirement benefits is not

a permanent increase in the gross annual retirement

benefit payable to a member or beneficiary, occurs

only once pursuant to a single statutory authorization

and does not exceed:

(1) the lesser of two percent (2%) of the gross

annual retirement benefit of the member or One

Thousand Dollars ($1,000.00) and requires that

the benefit may only be provided if the funded

ratio of the affected retirement system would not

be less than sixty percent (60%) but not greater

than eighty percent (80%) after the benefit

increase is paid,

(2) the lesser of two percent (2%) of the gross

annual retirement benefit of the member or One

Thousand Two Hundred Dollars ($1,200.00) and

requires that the benefit may only be provided if

the funded ratio of the affected retirement

system would be greater than eighty percent (80%)

but not greater than one hundred percent (100%)

after the benefit increase is paid,

(3) the lesser of two percent (2%) of the gross

annual retirement benefit of the member or One

Thousand Four Hundred Dollars ($1,400.00) and

requires that the benefit may only be provided if

the funded ratio of the affected retirement

system would be greater than one hundred percent

(100%) after the benefit increase is paid, or

(4) the greater of two percent (2%) of the gross

annual retirement benefit of the volunteer

firefighter or One Hundred Dollars ($100.00) for

persons who retired from the Oklahoma

Firefighters Pension and Retirement System as

volunteer firefighters and who did not retire

from the Oklahoma Firefighters Pension and

Retirement System as a paid firefighter.

As used in this subparagraph, “funded ratio” means the

figure derived by dividing the actuarial value of

assets of the applicable retirement system by the

Oklahoma Statutes - Title 62. Public Finance Page 661

actuarial accrued liability of the applicable

retirement system,

g. which modifies the disability pension standard for

police officers who are members of the Oklahoma Police

Pension and Retirement System as provided by Section

50-115 of Title 11 of the Oklahoma Statutes,

h. which provides a cost-of-living benefit increase

pursuant to the provisions of:

(1) Section 49-143.7 of Title 11 of the Oklahoma

Statutes,

(2) Section 50-136.9 of Title 11 of the Oklahoma

Statutes,

(3) Section 1104K of Title 20 of the Oklahoma

Statutes,

(4) Section 2-305.12 of Title 47 of the Oklahoma

Statutes,

(5) Section 17-116.22 of Title 70 of the Oklahoma

Statutes,

(6) Section 930.11 of Title 74 of the Oklahoma

Statutes,

i. which modifies the computation of the line-of-duty

disability benefit pursuant to the provisions of this

section and Sections 50-101 and 50-115 of Title 11 of

the Oklahoma Statutes, or

j. which authorizes membership in the Oklahoma Law

Enforcement Retirement System for active commissioned

or CLEET-certified agents of the Office of the

Attorney General or the Military Department of the

State of Oklahoma pursuant to Sections 3 and 4 of this

act.

A nonfiscal retirement bill shall include any retirement bill that

has as its sole purpose the appropriation or distribution or

redistribution of monies in some manner to a retirement system for

purposes of reducing the unfunded liability of such system or the

earmarking of a portion of the revenue from a tax to a retirement

system or increasing the percentage of the revenue earmarked from a

tax to a retirement system;

6. “Reduction-in-cost amendment” means an amendment to a

retirement bill having a fiscal impact which reduces the cost of the

bill as such cost is determined by the actuarial investigation for

the bill prepared pursuant to Section 3109 of this title;

7. “Retirement bill” means any bill or joint resolution

introduced or any bill or joint resolution amended by a member of

the Legislature which creates or amends any law directly affecting a

retirement system. A retirement bill shall not mean a bill or

resolution that impacts the revenue of any state tax in which a

Oklahoma Statutes - Title 62. Public Finance Page 662

portion of the revenue generated from such tax is earmarked for the

benefit of a retirement system;

8. “Retirement bill having a fiscal impact” means any

retirement bill creating or establishing a retirement system and any

other retirement bill other than a nonfiscal retirement bill; and

9. “Retirement system” means the Teachers’ Retirement System of

Oklahoma, the Oklahoma Public Employees Retirement System, the

Uniform Retirement System for Justices and Judges, the Oklahoma

Firefighters Pension and Retirement System, the Oklahoma Police

Pension and Retirement System, the Oklahoma Law Enforcement

Retirement System, or a retirement system established after January

1, 2006.
Okla. Stat. tit. 62, § 62-9.11 — OK Code / Title 62 / Section 62-9.11
Renumbered as § 34.86 of this title by Laws 2009, c. 441,
Status: in_force

§ 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-306e — OK Code / Title 62 / Section 62-306e
Cancellation of special assessment and lien of bond,
Status: in_force

warrant or tax bill.

In any case where the owner of any property which is or shall

be charged with a lien for the payment of any such matured and

unpaid special assessment street improvement bond or special

assessment warrant or tax bill, is the owner and holder of any such

bond or portion of bond or special assessment warrant or tax bill,

he may upon surrendering the same to the city clerk of the

municipality wherein such special assessment shall appear, have such

special assessment and lien thereof canceled and such city clerk

shall make an endorsement upon the bond or special assessment

warrant or tax bill and such city clerk shall make a notation upon

the special assessment tax rolls showing that such special

assessment has been discharged and released and shall cancel such

bond and file the same in his office.
Okla. Stat. tit. 62, § 62-34.40 — OK Code / Title 62 / Section 62-34.40
Segregation of lump sum appropriations
Status: in_force

A. When lump sum appropriations are made for personal services,

or for maintenance and operations, or for maintenance and operations

including personal services, no monies so appropriated shall be

available for payments for such expenses until a schedule of

positions and salaries and the amounts to be available for the

expenses shall have been approved by the Director of the Office of

Management and Enterprise Services and posted to the state

accounting system. The provisions of this subsection shall not

apply to such appropriations for the Legislature or judiciary, for

expenses of holding elections, or for temporary services or day

labor.

B. Any such approved schedule of positions and salaries may be

amended with the approval of the Director of the Office of

Management and Enterprise Services.

C. The request officer for each agency shall show the

classification of the expenditures for their agency, and such

classification shall follow the uniform budget and accounting

classifications adopted for similar spending agencies, except for

items peculiar to certain departments or institutions.

D. The Director of the Office of Management and Enterprise

Services shall not have authority to fix the amount of any agency

salary or eliminate any position listed on such schedule. However,

the Director shall not approve the schedule of positions and

salaries when the total amount of funds requested to be allotted

fails to reserve a sufficient balance to finance the operations of

the agency for the remainder of that fiscal year, considering any

possible failure in the revenue estimated to be collected for that

fiscal year.

E. The Director of the Office of Management and Enterprise

Services shall not have the authority to curtail the operation of

any particular part of the program, but shall order a reduction in

the total program only where insufficient revenues are anticipated

to carry on the program for the period concerned.
Okla. Stat. tit. 62, § 62-891.13 — OK Code / Title 62 / Section 62-891.13
Submitting tax questions to municipal voters
Status: repealed

A. As used in this section:

1. “Authority” means the Oklahoma Development Finance

Authority;

2. “Eligible local government entity” means:

a. a city,

b. a town,

c. a county,

d. any combination of cities, towns, or counties, or

e. a public trust with a beneficiary or beneficiary which

is a city, town, county or some combination of such

entities as authorized by Section 176 of Title 60 of

the Oklahoma Statutes;

3. “Existing levy” means a tax or other revenue-raising

mechanism approved by the voters of a county, city or town prior to

the effective date of this act;

4. “Municipality” means an incorporated city or town; and

5. “Pooled financing” means the use of municipal revenues,

derived from a levy imposed pursuant to the authority of Section

2701 of Title 68 of the Oklahoma Statutes, available to one or more

municipalities or county revenues, derived from a levy imposed

pursuant to the authority of Section 1370 of Title 68 of the

Oklahoma Statutes, based upon the local government entity

participating in a pooled financing.

B. Subject to the requirements of Section 2701 of Title 68 of

the Oklahoma Statutes, one or more municipalities may submit to the

respective voters of each such municipality the question of whether

Oklahoma Statutes - Title 62. Public Finance Page 593

to impose a tax not previously imposed, authorized by Section 2701

of Title 68 of the Oklahoma Statutes, in order to provide revenues

to repay indebtedness incurred by the Authority for the purposes

authorized by the Oklahoma Community Economic Development Pooled

Finance Act. The provisions of this subsection shall be applicable

to any one or more municipalities participating in a pooled

financing, regardless of whether any other municipality, subject to

voter approval, will be imposing a tax levy to be used for the

purposes of this act for the first time or whether any one or more

of such municipalities, subject to voter approval, will be modifying

the purposes of an existing tax levy to allow revenues to be used

for the purposes of this act.

C. Subject to the requirements of Section 2701 of Title 68 of

the Oklahoma Statutes, one or more municipalities may submit to the

respective voters of each such municipality the question of whether

to modify an existing tax levy, previously approved by the voters of

such municipality, in order to allow the use of some part or all of

the proceeds from the existing tax levy in order to provide revenues

to repay indebtedness incurred by the Authority for the purposes

authorized by this act. The provisions of this subsection shall be

applicable to any one or more municipalities participating in a

pooled financing, regardless of whether any other municipality,

subject to voter approval, will be imposing a tax levy to be used

for the purposes of this act for the first time or whether any one

or more of such municipalities, subject to voter approval, will be

modifying the purposes of an existing tax levy to allow revenues to

be used for the purposes of this act.

D. Municipalities may submit questions authorized by this

section regardless of whether the municipalities are contiguous or

adjacent to one another.

E. A municipality that submits a question for the imposition of

a dedicated tax levy pursuant to the provisions of this section

shall specify the type of tax levy and the rate of the levy in the

question submitted which shall be clearly identified by the wording

of the ballot.

F. A municipality may impose a different tax levy or the same

type of tax levy at a different rate than any other municipality or

municipalities or a different tax levy or at a different tax rate

than any other county or counties submitting a pooled financing

question for voter approval.

G. The duration of the tax levy shall be identical in all

questions submitted for voter approval and shall not exceed twenty-

five (25) years.

H. The ballot for a pooled financing pursuant to the provisions

of this act shall clearly indicate:

Oklahoma Statutes - Title 62. Public Finance Page 594

1. That the revenues from the tax levy are to be used for the

payment of principal, interest and other costs of borrowing

authorized by the provisions of this act;

2. The maximum maturity of the obligations to be repaid; and

3. The projects or assets to be acquired, constructed,

improved, maintained or otherwise used by the municipality as a

result of the imposition of the levy.

I. Revenues derived from a tax levy imposed pursuant to the

provisions of this section shall be paid by the municipality or

municipalities to the Community Economic Development Pooled Finance

Revolving Fund created pursuant to Section 15 of this act.

J. No tax levy imposed pursuant to the provisions of this

section shall be repealed until such time as the obligations issued

by the Authority are fully paid. In no event shall the duration of

the levy be extended beyond the duration approved by the voters of

the municipality or municipalities.
Okla. Stat. tit. 62, § 62-14 — OK Code / Title 62 / Section 62-14
Bond invalid without certificate
Status: in_force

No bond hereafter issued by any political or municipal

subdivision of this state shall be valid without the certificate of

said Bond Commissioner.
Okla. Stat. tit. 62, § 62-57.131 — OK Code / Title 62 / Section 62-57.131
Investment - Approval as collateral security
Status: in_force

Any bank, trust or insurance company organized under the laws of

Oklahoma may invest its capital, surplus and reserve funds and other

funds under its control in bonds issued under the provisions of this

Oklahoma Statutes - Title 62. Public Finance Page 259

act. The officers having charge of any fund of the State of

Oklahoma, or any department, agency, or institution thereof or any

sinking fund of any county, city, town, township, board of education

or school district may invest such funds in bonds issued under the

provisions hereof. Such bonds shall also be approved as collateral

security for the deposit of any public funds and for the investment

of trust funds.
Okla. Stat. tit. 62, § 62-255.4 — OK Code / Title 62 / Section 62-255.4
Workforce Coordination Revolving Fund
Status: in_force

A. There is hereby created in the State Treasury a revolving

fund for the Oklahoma Workforce Commission to be designated the

"Workforce Coordination Revolving Fund". The fund shall be a

continuing fund, not subject to fiscal year limitations, and shall

consist of all monies directed for deposit by law from the Statewide

Recovery Fund in Section 255 of Title 62 of the Oklahoma Statutes.

All monies accruing to the credit of said fund are hereby

appropriated and may be budgeted and expended by the Commission for

the purpose of creating a workforce data integration system,

providing grants for critical workforce needs, and administering

these projects. No funds shall be used for expenses that violate

the federal guidelines for the American Rescue Plan Act of 2021,

Public Law No. 117-2, or be used for projects not in accordance with

policy enacted under the efforts of the Education and Economic

Development Working Group within the Joint Committee on Pandemic

Relief Funding. Expenditures from said fund shall be made upon

warrants issued by the State Treasurer against claims filed as

prescribed by law with the Director of the Office of Management and

Enterprise Services for approval and payment.

B. Any funds remaining in the Workforce Coordination Revolving

Fund as of July 1, 2024, are hereby considered obligated by the

Oklahoma Legislature for the purpose of workforce development

initiatives.

Oklahoma Statutes - Title 62. Public Finance Page 359
Okla. Stat. tit. 62, § 62-41.5a-2 — OK Code / Title 62 / Section 62-41.5a-2
Renumbered as § 34.14 of this title by Laws 2009, c
Status: repealed

441, § 64, eff. July 1, 2009. Repealed by Laws 2009, c. 451, § 25,

eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-34.11.4 — OK Code / Title 62 / Section 62-34.11.4
Oklahoma State Government Forms One-Stop Initiative
Status: in_force

A. There is hereby established the “Oklahoma State Government

Forms One-Stop Initiative”.

B. The Chief Information Officer shall develop and maintain an

online web presence at the web address “forms.ok.gov”. The site

shall allow public access to forms described in this section. The

site shall include functionality allowing site visitors to search

the forms by term.

C. The Chief Information Officer shall promulgate procedures by

which each state agency, board, commission, and public trust having

the State of Oklahoma as a beneficiary shall submit a searchable

electronic version of each form to the “forms.ok.gov” website. The

procedures shall require the forms to be provided in an indexed

format which enables the form to be searched by specific term.

D. State agencies, boards, commissions, and public trusts

having the State of Oklahoma as a beneficiary shall comply with

procedures promulgated pursuant to the terms of this section.
Okla. Stat. tit. 62, § 62-57.36 — OK Code / Title 62 / Section 62-57.36
Interim bonds
Status: in_force

The Commission is authorized to issue one or more interim bonds

representative of the bonds so sold, which interim bonds may be in

any denomination, shall have all the qualities and be secured by all

the covenants and pledges made to secure the bonds so sold, but said

interim bonds shall represent the bonded debt only until such time

as the definitive bonds are printed, executed and delivered to the

purchaser thereof. No tender of any such interim bonds shall be

valid until the expiration of the period of contestability provided

in this act. Simultaneously with delivery of the definitive bonds,

any such interim bonds shall be surrendered for cancellation and

cancelled by the State Treasurer of Oklahoma.
Okla. Stat. tit. 62, § 62-34.32 — OK Code / Title 62 / Section 62-34.32
Standard security risk assessment and audit of state
Status: in_force

agency information technology systems.

A. The Information Services Division of the Office of

Management and Enterprise Services shall create a standard security

risk assessment for state agency information technology systems that

complies with the International Organization for Standardization

(ISO) and the International Electrotechnical Commission (IEC)

Information Technology - Code of Practice for Security Management

(ISO/IEC 27002).

B. Each state agency that has an information technology system

shall obtain an information security risk assessment to identify

vulnerabilities associated with the information system. The

Information Services Division of the Office of Management and

Enterprise Services shall approve not less than two firms which

state agencies may choose from to conduct the information security

risk assessment.

C. A state agency with an information technology system that is

not consolidated under the Information Technology Consolidation and

Coordination Act or that is otherwise retained by the agency shall

additionally be required to have an information security audit

conducted by a firm approved by the Information Services Division

that is based upon the most current version of the NIST Cyber-

Security Framework, and shall submit a final report of the

information security risk assessment and information security audit

findings to the Information Services Division each year on a

schedule set by the Information Services Division. Agencies shall

also submit a list of remedies and a timeline for the repair of any

deficiencies to the Information Services Division within ten (10)

days of the completion of the audit. The final information security

risk assessment report shall identify, prioritize, and document

information security vulnerabilities for each of the state agencies

assessed. The Information Services Division may assist agencies in

repairing any vulnerabilities to ensure compliance in a timely

manner.

D. Subject to the provisions of subsection C of Section 34.12

of this title, the Information Services Division shall report the

results of the state agency assessments and information security

audit findings required pursuant to this section to the Governor,

the Speaker of the House of Representatives, and the President Pro

Tempore of the Senate by the first day of January of each year. Any

state agency with an information technology system that is not

consolidated under the Information Technology Consolidation and

Coordination Act that cannot comply with the provisions of this

Oklahoma Statutes - Title 62. Public Finance Page 73

section shall consolidate under the Information Technology

Consolidation and Coordination Act.

E. This section shall not apply to state agencies subject to

mandatory North American Electric Reliability Corporation (NERC)

cybersecurity standards and institutions within The Oklahoma State

System of Higher Education, the Social Security Disability

Determination Services Division of the Department of Rehabilitation

Services, and the Oklahoma State Regents for Higher Education and

the telecommunications network known as OneNet that follow the

International Organization for Standardization (ISO), the Oklahoma

Military Department (OMD) and the International Electrotechnical

Commission (IEC)-Security techniques-Code of Practice for

Information Security Controls or National Institute of Standards and

Technology.
Okla. Stat. tit. 62, § 62-305.2 — OK Code / Title 62 / Section 62-305.2
Definitions
Status: in_force

The term "municipality" as used herein shall include any county,

school district, city or town, and the term "governing board" shall

include the board of county commissioners of a county, the board of

education or district board of any school district, the city council

of a city, and the board of trustees of a town.
Okla. Stat. tit. 62, § 62-34.37 — OK Code / Title 62 / Section 62-34.37
Submission of budget - Plan of expenditures - Proposed
Status: in_force

revenues.

Immediately after the beginning of each regular session of the

Legislature, the Governor shall submit to the presiding officer of

each house, copies of the budget based upon the investigations and

conclusions of the Office of Management and Enterprise Services.

Such budget document shall contain a complete and itemized plan of

all proposed expenditures for each agency or undertaking classified

according to the various cabinet areas designated by the Governor or

otherwise created by law. Such expenditures shall be further

classified by function, character and object, and in the event such

proposed expenditures exceed the estimate made by the State Board of

Equalization, the Governor shall accompany the budget document with

a proposal of new revenue raising measures sufficient to effect a

balanced budget for the ensuing fiscal year.
Okla. Stat. tit. 62, § 62-803 — OK Code / Title 62 / Section 62-803
Issuance of bonds - Requirements - Verification of
Status: in_force

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%) of the proceeds from the bonds

must be used for a qualified economic development or community

development purpose, or to refund bonds issued for a purpose, which,

on the date originally issued, was a qualified economic development

or community development purpose; provided, however, that for

purposes of determining such use, proceeds used to fund a debt

service reserve shall be considered to be for a qualifying economic

development or community development purpose;

2. The bonds must be issued in denominations of One Hundred

Dollars ($100.00) or multiples thereof, except that the first

numbered bond may be for such odd amount as will complete the full

issue of the bonds;

3. The average coupon rate of the bonds shall not exceed

fourteen percent (14%) per annum;

4. The principal shall begin to mature not less than one (1)

year or more than five (5) years after the dated date of the issue;

5. The bonds must have a final maturity no later than thirty

(30) years after their date of issuance; and

6. A verification from the Administrator of the Oklahoma

Department of Securities that all persons receiving compensation,

directly or indirectly, for providing advice to a municipality or

county with regard to the Municipal and County Economic and

Community Development Bonds Act are appropriately registered with

the Oklahoma Department of Securities as investment advisers or

investment adviser representatives, as applicable, and that all

persons receiving compensation, directly or indirectly, for the

placement of the bonds are registered as broker-dealers or agents,

as applicable.
Okla. Stat. tit. 62, § 62-41.29c — OK Code / Title 62 / Section 62-41.29c
Renumbered as § 34.90 of this title by Laws 2009, c
Status: in_force

441, § 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-89.6 — OK Code / Title 62 / Section 62-89.6
Fees
Status: in_force

A. The State Treasurer may charge and collect the following

fees:

1. For any returned check or electronic debit that is returned,

a fee of Twenty-five Dollars ($25.00);

2. For handling and processing rejected warrant items processed

by the State Treasurer, a fee of Five Dollars ($5.00) per item;

3. For handling a stop-payment item processed by the State

Treasurer on behalf of a state agency, a fee of Fifteen Dollars

($15.00) for each item up to a maximum fee of Three Hundred Twenty-

five Dollars ($325.00) per day; and

4. Beginning July 1, 2010, for expenses incurred in managing

the state blended portfolio, an annual fee of not more than two and

one-half (2 1/2) basis points which may be charged monthly against

the average daily balance of the portfolio; provided, the fees shall

be collected at the time earnings are deposited to participants.

B. Beginning July 1, 2012, a state agency may direct the State

Treasurer to purchase, sell, hold or otherwise manage investment

transactions on its behalf outside of the blended portfolio,

provided that the agency shall not pay more for investment services

than the rate established by the State Treasurer which shall not

exceed the amount necessary for recovering the cost to the State

Treasurer's office for providing such services.
Okla. Stat. tit. 62, § 62-57.312 — OK Code / Title 62 / Section 62-57.312
Investment of sinking fund monies - Deposit of
Status: in_force

earnings.

The State Treasurer shall invest all sinking fund monies in

direct obligations of the United States of America or in

certificates of deposits from banks in the State of Oklahoma

acceptable as depositories by the State Treasurer when such

certificates of deposits are secured by acceptable collateral and

yield as much or more than direct obligations of the United States

of America, to mature in time to meet the principal and interest

payments on the Oklahoma Building Bonds of 1992. Such earnings

shall be deposited in the sinking fund, except that any funds

received pursuant to a contract entered into by the Office of the

State Treasurer for the investment of revenues dedicated for bond

repayment may be deposited in the Special Cash Fund of the State

Treasury.
Okla. Stat. tit. 62, § 62-91.8 — OK Code / Title 62 / Section 62-91.8
Funding of loans – Reduced interest rate
Status: in_force

A. Upon the placement of a rural housing linked deposit with an

eligible lending institution, the institution shall fund the loan to

each approved eligible rural housing developer listed in the rural

housing linked deposit loan package in accordance with the rural

housing linked deposit agreement between the institution and the

State Treasurer. The loan shall be at a rate that reflects a

percentage-rate reduction below the present borrowing rate

applicable to each developer that is equal to the percentage-rate

reduction below market rates at which the certificate of deposits

that constitute the rural housing linked deposit were placed or at

which the investments in bonds, notes, debentures, or other

obligations or securities that constitute the rural housing linked

deposit were made. A certification of compliance with this section

in the form and manner as prescribed by the State Treasurer shall be

required of the eligible lending institution.

B. The State Treasurer shall take any and all steps necessary

to implement the Oklahoma Rural and Affordable Housing Linked

Deposit Program and monitor compliance of eligible lending

institutions and eligible rural housing developers, including the

development of guidelines as necessary.
Okla. Stat. tit. 62, § 62-57.32 — OK Code / Title 62 / Section 62-57.32
Building Bonds Commission - Indebtedness - Purposes
Status: in_force

The State of Oklahoma Building Bonds Commission, created by

Section 57.302 of Title 62 of the Oklahoma Statutes, acting for and

on behalf of the State of Oklahoma, shall be the agency by and

through which the State of Oklahoma shall incur indebtedness to the

extent of the sum of Thirty-five Million Five Hundred Thousand

Dollars ($35,500,000.00) as principal, for the purpose of

constructing new buildings and other capital improvements, and for

equipping, remodeling, modernizing and repairing any and all

existing buildings and capital improvements, at the constituent

institutions of The Oklahoma State System of Higher Education

provided that Five Million Dollars ($5,000,000.00) thereof shall be

used to construct and equip a school and hospital for children with

intellectual disabilities in Northeastern Oklahoma pursuant to, and

under authority of, Section 34 of Article X of the Constitution of

the State of Oklahoma and Section 57.15 et seq. of this title.

Oklahoma Statutes - Title 62. Public Finance Page 212
Okla. Stat. tit. 62, § 62-275.2 — OK Code / Title 62 / Section 62-275.2
Destruction of warrant registers after warrants
Status: in_force

microfilmed or duplicated.

Warrant registers maintained by the State Treasurer, listing

warrants issued in payment to the needy persons referred to in

Section 275.1 of this title, shall be destroyed in the manner

hereinabove provided by the State Treasurer upon receipt of notice

from the Department of Human Services that warrants listed thereon

have been microfilmed or duplicated in a manner acceptable to the

Archives and Records Commission or if the warrants have been

destroyed with permission of the Archives and Records Commission.
Okla. Stat. tit. 62, § 62-383 — OK Code / Title 62 / Section 62-383
Public body defined - Bond defined
Status: in_force

The following terms, wherever used or referred to in this act,

shall have the following meaning:

(a) The term "public body" means a county, city, town, school

district, independent school district, consolidated school district,

joint school district, union graded school district, board of

education, or drainage district, or any educational institution

heretofore authorized by statute to issue bonds.

(b) The term "bond" includes bonds, notes, warrants, debentures,

certificates of indebtedness, temporary bonds, temporary notes,

interim receipts, interim certificates and all instruments or

obligations evidencing or representing indebtedness or evidencing or

representing the borrowing of money, or evidencing or representing a

charge, lien or encumbrance on specific revenues, income or property

of a public body, including all instruments or obligations payable

from a special fund.
Okla. Stat. tit. 62, § 62-57.110 — OK Code / Title 62 / Section 62-57.110
Investment of sinking fund
Status: in_force

The State Treasurer shall invest all sinking fund monies in

direct obligations of the United States of America or in

certificates of deposits from banks in the State of Oklahoma

acceptable as depositories by the State Treasurer, when such

Oklahoma Statutes - Title 62. Public Finance Page 251

certificates of deposits are secured by acceptable collateral and

yield as much or more than direct obligations of the United States

of America, to mature in time to meet the principal and interest

payments on the Series D Bonds, which earnings shall be deposited in

the sinking fund.
Okla. Stat. tit. 62, § 62-3501 — OK Code / Title 62 / Section 62-3501
Distributions to certain retired members
Status: in_force

A. As used in this section, "public retirement system" means:

1. The Oklahoma Firefighters Pension and Retirement System;

2. The Oklahoma Police Pension and Retirement System;

3. The Uniform Retirement System for Justices and Judges;

4. The Oklahoma Law Enforcement Retirement System;

5. The Teachers' Retirement System of Oklahoma; and

6. The Oklahoma Public Employees Retirement System.

B. As used in this section, "funded ratio" means the figure

derived by dividing the actuarial value of retirement system assets

by the actuarial accrued liability of the retirement system. For

purposes of this section, the rate of return on public retirement

system assets for the computation of the funded ratio shall not

exceed seven and one-half percent (7.5%) but shall be computed using

any assumed rate of return utilized by the applicable retirement

system if such rate of return does not exceed seven and one-half

percent (7.5%). The provisions of this subsection shall only be

applicable to the computation of the funded ratio for purposes of

implementing the provisions of this section and shall not be used

for any other computation or any other purpose with respect to the

actuarial assumptions used by any of the public retirement systems.

C. Effective October 1, 2018, a public retirement system shall

make a one-time distribution to its retired members if the member

has been retired for a period of five (5) or more years as of

October 1, 2018, in the amount of:

1. The lesser of two percent (2%) of the gross annual

retirement benefit of the member or One Thousand Dollars ($1,000.00)

if the funded ratio of the public retirement system would be not

less than sixty percent (60%), but not greater than eighty percent

(80%) after the distribution is made;

2. The lesser of two percent (2%) of the gross annual

retirement benefit of the member or One Thousand Two Hundred Dollars

Oklahoma Statutes - Title 62. Public Finance Page 672

($1,200.00) if the funded ratio of the public retirement system

would be greater than eighty percent (80%), but not greater than one

hundred percent (100%) after the distribution is made; or

3. The lesser of two percent (2%) of the gross annual

retirement benefit of the member or One Thousand Four Hundred

Dollars ($1,400.00) if the funded ratio of the public retirement

system would be greater than one hundred percent (100%) after the

distribution is made.

D. The Oklahoma Firefighters Pension and Retirement System

shall make a distribution to persons who retired from the Oklahoma

Firefighters Pension and Retirement System as a volunteer

firefighter, if the member has been retired for a period of five (5)

or more years as of October 1, 2018, in the amount of the greater of

two percent (2%) of the gross annual retirement benefit of the

volunteer firefighter or One Hundred Dollars ($100.00). The

provisions of this subsection shall only be applicable to persons

who retired from the Oklahoma Firefighters Pension and Retirement

System as volunteer firefighters and not as paid firefighters.

E. Increases in retirement benefits may only be provided

pursuant to a specific authorization by law.

F. Effective October 1, 2018, increases in retirement benefits

shall not be authorized to occur more frequently than once each two

(2) years pursuant to the specific authorization required by

subsection E of this section. Increases in retirement benefits

provided to members of a public retirement system who have been a

member of that system for at least twenty (20) years shall not be

less than Three Hundred Fifty Dollars ($350.00), except as set forth

in subsection D of this section.
Okla. Stat. tit. 62, § 62-3106 — OK Code / Title 62 / Section 62-3106
Nonfiscal retirement bills - Procedure - Amendments
Status: in_force

A. A nonfiscal retirement bill may be introduced at any time

according to the applicable deadlines established by the House of

Representatives or Senate in any regular session of the Legislature.

After its introduction into the Legislature, a nonfiscal retirement

bill may not be amended in any manner to cause the bill to become a

retirement bill having a fiscal impact. Except as otherwise

provided by this section, any amendment to such a bill shall be

submitted to the Legislative Actuary by the chair of the committee,

if a committee amendment, or by the presiding officer of the Senate

or House of Representatives if the amendment was made by the Senate

or the House of Representatives or by the author of such bill when

the bill is assigned to a conference committee. An amendment with

the sole purpose to strike or restore the title or the enacting

clause shall not be submitted to the Legislative Actuary. If the

Legislative Actuary certifies in writing that the amendment does not

cause the bill to become a retirement bill having a fiscal impact,

the bill, as amended, may continue in the legislative process as any

Oklahoma Statutes - Title 62. Public Finance Page 664

other bill. If the Legislative Actuary will not issue such a

certification for the amendment, the progress of the bill in the

legislative process will end, and the bill shall not be considered

further by either the House of Representatives or the Senate.

B. An amendment to a nonfiscal retirement bill which is

prohibited by subsection A of this section may be withdrawn by the

committee which made the amendment, if a committee amendment, or by

the Senate, if that body made the amendment, or by the House of

Representatives, if that body made the amendment or by the author,

if the amendment is made in conference. If the amendment is

withdrawn, the bill may continue in the legislative process as any

other bill, unless it is subsequently amended, and, in that event,

the provisions of this section shall apply to the subsequent

amendment.

C. A nonfiscal retirement bill which is not amended during the

legislative process may be considered as any other bill.
Okla. Stat. tit. 62, § 62-3102 — OK Code / Title 62 / Section 62-3102
Application of act
Status: in_force

The provisions of the Oklahoma Pension Legislation Actuarial

Analysis Act shall be applicable to legislation affecting:

1. The Teachers’ Retirement System of Oklahoma;

2. The Oklahoma Public Employees Retirement System;

3. The Uniform Retirement System for Justices and Judges;

4. The Oklahoma Firefighters Pension and Retirement System;

5. The Oklahoma Police Pension and Retirement System;

6. The Oklahoma Law Enforcement Retirement System; or

7. Any new retirement system established by law not in

existence as of the effective date of this act.
Okla. Stat. tit. 62, § 62-41.31 — OK Code / Title 62 / Section 62-41.31
Renumbered as § 34.34 of this title by Laws 2009, c
Status: in_force

441, § 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-551 — OK Code / Title 62 / Section 62-551
Checks or warrants to be paid upon presentation -
Status: in_force

Maintenance of evidence of payment.

It shall be the duty of the State Treasurer and each county,

city, or town treasurer to pay on presentation any check, warrant or

order properly drawn on any funds in his custody by virtue of his

office, when there is cash sufficient in such fund to do so and when

any check, warrant or order is paid, such treasurer shall maintain

evidence such check or warrant has been processed and paid.
Okla. Stat. tit. 62, § 62-45.9 — OK Code / Title 62 / Section 62-45.9
Schedule of program evaluation and performance review of
Status: in_force

Joint Legislative Committee on Budget and Program Oversight – Required elements of review -

All economic incentive provisions enacted after January 1, 2016, shall include a measurable goal or

goals. For the purposes of this act, "incentive" shall include any provision available to be used by a

business entity in the form of a credit, exemption, deduction or rebate pertaining to a state tax

liability of any kind; any grant, loan or financing program offered by the state or a state-beneficiarystate agencies – Duties of Joint Legislative Committee on Budget and

Program Oversight – Required elements of review - Reports.

A. The Joint Legislative Committee on Budget and Program

Oversight shall annually establish a schedule of program evaluation

and performance review for state agencies. In establishing this

schedule the Joint Legislative Committee on Budget and Program

Oversight shall take into consideration the work plan of studies,

program evaluations and other related performance reviews developed

by the Joint Committee on Accountability in Government. Where

appropriate, the Joint Legislative Committee on Budget and Program

Oversight shall coordinate its schedule with related work plan items

of the Joint Accountability in Government Committee.

Oklahoma Statutes - Title 62. Public Finance Page 169

The Joint Legislative Committee on Budget and Program Oversight

may request the Joint Committee on Accountability in Government to

include additional evaluations or reviews to their schedule or

expand any scheduled evaluation or review to include issues of

interest to the Joint Legislative Committee on Budget and Program

Oversight.

The Joint Legislative Committee on Budget and Program Oversight

may request any assistance necessary from the Office of the State

Auditor and Inspector in regard to program evaluations or

performance reviews scheduled by the Committee.

B. The program evaluation and justification review shall be

conducted on major programs, but may include other programs. The

review shall be comprehensive in its scope but, at a minimum, must

be conducted in such a manner as to specifically determine the

following, and to consider and determine what changes, if any, are

needed with respect thereto:

1. The specific purpose of each program, as well as the

specific public benefit derived therefrom;

2. The progress toward achieving the outputs and outcomes

associated with each program;

3. An explanation of circumstances contributing to the state

agency's ability to achieve, not achieve, or exceed its projected

outputs and outcomes associated with each program;

4. The identifiable cost of each program;

5. Alternate courses of action that would result in

administration of the same program in a more efficient or effective

manner. The courses of action to be considered must include, but

are not limited to:

a. whether the program could be organized in a more

efficient and effective manner, whether the program's

mission, goals, or objectives should be redefined, or,

when the state agency cannot demonstrate that its

efforts have had a positive effect, whether the

program should be reduced in size or eliminated,

b. whether the program could be administered more

efficiently or effectively to avoid duplication of

activities and ensure that activities are adequately

coordinated,

c. whether the program could be performed more

efficiently or more effectively by another unit of

government, including political subdivisions of the

state, or a private entity, or whether a program

performed by a private entity could be performed more

efficiently and effectively by a state agency,

d. when compared to costs, whether effectiveness warrants

elimination of the program or, if the program serves a

Oklahoma Statutes - Title 62. Public Finance Page 170

limited interest, whether it should be redesigned to

require users to finance program costs,

e. whether the cost to administer the program exceeds

license and other fee revenues paid by those being

regulated, and

f. whether other changes could improve the efficiency and

effectiveness of the program;

6. The consequences of discontinuing such program. If any

discontinuation is recommended, such recommendation must be

accompanied by a description of alternatives to implement such

recommendation, including an implementation schedule for

discontinuation and recommended procedures for assisting state

agency employees affected by the discontinuation;

7. Determination as to public policy, which may include

recommendations as to whether it would be sound public policy to

continue or discontinue funding the program, either in whole or in

part, in the existing manner; and

8. Whether state agency management has established control

systems sufficient to ensure that performance data are maintained

and supported by state agency records and accurately presented in

state agency performance reports.

C. Evaluations and reviews may include consideration of

programs provided by other agencies which are integrally related to

the programs administered by the state agency.

D. Reports issued upon the completion of any performance

evaluations and program reviews by the Joint Legislative Committee

on Budget and Program Oversight shall be submitted to the Governor,

the Speaker of the House of Representatives and the President Pro

Tempore of the State Senate. All reports issued shall be available

to the public once they have been submitted to the parties listed in

this section.
Okla. Stat. tit. 62, § 62-34.12.1 — OK Code / Title 62 / Section 62-34.12.1
High technology systems and upgrades and enhancements
Status: in_force

A. No state agency shall enter into a contract for the

acquisition of a high technology system unless the vendors proposing

to supply the acquisition:

1. Provide documentation of the projected schedule of

recommended or required upgrades or improvements to the high

technology system over a projected three-year period following the

targeted purchase date; or

2. Provide documentation that no recommended or required

upgrades or improvements to the high technology system are planned

over a projected three-year period following the targeted purchase

date.

For purposes of this subsection, vendors shall provide

documentation required for all entities which will be utilized in

satisfying any phase.

B. No state agency shall enter into a contract for the

acquisition of an upgrade or enhancement to a high technology system

unless:

1. The vendor agrees to provide the acquisition at no charge to

the state;

2. The vendor previously agreed in a contract to provide the

acquisition at no additional charge to the state;

3. The state agency obtains from the vendor proposing to supply

the acquisition documentation that any required or recommended

upgrade will enhance or is necessary for the performance of the

state agency duties and responsibilities; or

Oklahoma Statutes - Title 62. Public Finance Page 52

4. The vendor provides documentation that the vendor will no

longer supply assistance to the state agency for the purpose of

maintenance of the high technology system and the state agency

documents that the functions performed by the high technology system

are necessary for the performance of the state agency duties and

responsibilities.

C. The Chief Information Officer or the procurement officer of

state agencies not subject to The Oklahoma Central Purchasing Act

shall not process any state agency request for a high technology

system acquisition unless the proposed vendor provides documentation

that complies with subsections A or B of this section.

D. The Chief Information Officer shall provide such advice and

assistance as may be required in order for state agencies to comply

with the provisions of this section. For purposes of this section,

"state agency" shall include all state agencies, whether or not the

agency is subject to The Oklahoma Central Purchasing Act or any

other law related to procurement of goods and services.
Okla. Stat. tit. 62, § 62-41.29f — OK Code / Title 62 / Section 62-41.29f
Renumbered as § 34.93 of this title by Laws 2009, c
Status: in_force

441, § 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-601 — OK Code / Title 62 / Section 62-601
Definitions
Status: in_force

As used in this act:

(a) "Public security" means a bond, note, certificate of

indebtedness or other obligation for the payment of money, issued by

this state or by any of its departments, agencies, or other

instrumentalities or by any of its political subdivisions or

districts.

(b) "Authorized officer" means any official of this state or of

any of its departments, agencies, or other instrumentalities or

districts whose signature to a public security, or certificate

thereon or thereto, is required or permitted.

(c) "Facsimile signature" means the reproduction by engraving,

imprinting, stamping or other means of the manual signature of an

authorized officer.
Okla. Stat. tit. 62, § 62-505 — OK Code / Title 62 / Section 62-505
Statements - Other municipal funds
Status: in_force

Any officer of any city, town, township, school district, board

of education, or other municipality, in any county in this state,

who shall file a statement against any contingent or special fund of

said city, town, township, school district, board of education or

municipality, must file a complete statement setting out

specifically each item covered by said claim, and if for money

expended by him, receipt for the money so expended must be filed

Oklahoma Statutes - Title 62. Public Finance Page 443

with said claim, and any of the officers enumerated herein, who

files, or allows any claim against a contingent fund, unless same

complies with the provisions of this act, shall be liable on his

official bond in double the amount of said claim or claims so filed,

or allowed, and it shall be the duty of the district attorneys

within their respective counties to enter suit in the name of the

county against the official bonds of such officer or commissioner to

recover said amounts so illegally allowed and the penalty as

provided in this act.
Okla. Stat. tit. 62, § 62-2203.2 — OK Code / Title 62 / Section 62-2203.2
Definitions
Status: in_force

As used in the Oklahoma Disaster Relief Materials Price

Stabilization Act:

1. "Cost to the retailer" means the invoice cost of the

merchandise to the retailer or the replacement cost of the

merchandise to the retailer, whichever is the lower; less all trade

discounts except customary discounts for cash; to which shall be

added:

a. freight charges not otherwise included in the invoice

cost or the replacement cost of the merchandise,

b. cartage to the retail outlet if done or paid for the

retailer, which cartage cost, in the absence of proof

of a lesser cost, shall be deemed to be three-fourths

of one percent (3/4 of 1%) of the cost to the retailer

as herein defined after adding freight charges, but

before adding cartage and taxes,

c. all state and federal taxes, and

d. a markup to cover a proportionate part of the cost of

doing business, which markup, in the absence of proof

of a lesser cost, shall be six percent (6%) of the

cost of the retailer after adding freight charges and

cartage, but before adding a markup;

2. "Cost to the wholesaler" means the invoice cost of the

merchandise to the wholesaler, or the replacement cost of the

merchandise to the wholesaler, whichever is the lower; less all

trade discounts except customary discounts for cash; to which shall

be added:

a. freight charges, not otherwise included in the invoice

cost or the replacement cost of the merchandise,

Oklahoma Statutes - Title 62. Public Finance Page 636

b. cartage to the retail outlet if done or paid for by

the wholesaler, which cartage cost, in the absence of

proof of a lesser cost, shall be deemed to be three-

fourths of one percent (3/4 of 1%) of the cost to the

wholesaler after adding freight charges, but before

adding cartage and taxes, and

c. all state and federal taxes;

3. "Disaster relief materials" means those structural elements

that typically sustain damage during temporary conditions,

including, but not limited to: lumber and lumber composites,

engineered wood products, structural wood panels, roofing,

guttering, siding, drywall, insulation, flooring, windows, doors and

plumbing elements;

4. "Excessive price" means a price exceeding one hundred ten

percent (110%) of the highest price charged by the retailer or

wholesaler for the item within the previous thirty (30) days;

5. "Replacement costs" means the cost per unit at which the

merchandise sold or offered for sale could have been bought by the

seller at any time within thirty (30) days prior to the date of sale

or the date upon which it is offered for sale by the seller if

bought in the same quantity or quantities as the seller's last

purchase of such merchandise;

6. "Retailer" means and includes every person, partnership,

corporation or association engaged in the business of making sales

of retail disaster relief materials within this state; provided

that, in the case of a person, partnership, corporation or

association engaged in the business of making both sales at retail

and sales at wholesale, such term shall be applied only to the

retail portion of such business;

7. "Sell at retail", "sales at retail", "retail sale", "sell at

wholesale", "sales at wholesale" or "wholesale sales" means any

transfer for a valuable consideration made in the ordinary course of

trade or the usual conduct of the seller's business of title to

personal property to the purchaser for purposes of resale or further

processing or manufacturing. The above terms shall include any

transfer of such property where title is retained by the seller as

security for the payment of the purchase price;

8. "Temporary conditions" means conditions lasting seven (7)

days or less such as tornado, hail storm, ice storm or blizzard. It

does not include conditions lasting longer than seven (7) days such

as drought or low temperatures; and

9. "Wholesaler" means and includes every person, partnership,

corporation or association engaged in the business of making sales

of wholesale disaster relief materials within this state; provided

that, in the case of a person, partnership, corporation or

association engaged in the business of making both sales at

Oklahoma Statutes - Title 62. Public Finance Page 637

wholesale and sales at retail, such term shall be applied only to

the wholesale portion of such business.
Okla. Stat. tit. 62, § 62-34.4 — OK Code / Title 62 / Section 62-34.4
Revolving Fund for Office of Management and Enterprise
Status: in_force

Services.

There is hereby created in the State Treasury a Revolving Fund

for the Office of Management and Enterprise Services. The revolving

fund shall consist of any monies received for rental of machine

metered time, sale of scrap cards and paper, and any other

miscellaneous receipts. The revolving fund herein created may be

Oklahoma Statutes - Title 62. Public Finance Page 31

expended for the same purposes and in the same manner as

appropriated funds.
Okla. Stat. tit. 62, § 62-34.70 — OK Code / Title 62 / Section 62-34.70
Voluntary payroll deductions
Status: in_force

A. 1. Upon the request of a state employee, a state agency

shall make voluntary payroll deductions for the employee to any

credit union, bank, or savings association having an office in this

state.

2. If the governing body of any county, municipality, or school

district provides for voluntary payroll deductions to a credit union

serving the employees of the county, municipality, or school

district, it shall provide voluntary payroll deductions to any

credit union, bank, or savings association having an office in this

state which has a minimum participation of twenty percent (20%) of

the employees of the county, municipality, or school district.

B. Upon the request of a state employee and pursuant to

procedures established by the Director of the Office of Management

and Enterprise Services, a state agency shall make payroll

deductions for:

1. The payment of any insurance premiums due a private

insurance organization with a minimum participation of five hundred

(500) state employees for life, accident, and health insurance which

is supplemental to that provided for by the state;

2. The payment of any insurance premiums, other than the

premiums due pursuant to paragraph 1 of this subsection, due a

private insurance organization or service company with a minimum

participation of five hundred (500) state employees for legal

services;

Oklahoma Statutes - Title 62. Public Finance Page 111

3. Premiums or payments for retirement plans with a minimum

participation of five hundred (500) state employees for retirement

plans which are supplemental to that provided for by the state;

4. Salary adjustment agreements included in a flexible benefits

plan as authorized by the State Employees Flexible Benefits Act;

5. Membership dues utilized for benefits, goods or services

provided by the Oklahoma Public Employees Association to the

organization's membership or any other statewide association limited

to state employee membership with a minimum membership of two

thousand (2,000) dues-paying members. For purposes of this

paragraph, state agencies shall accept online or electronically

submitted forms from the Oklahoma Public Employees Association and

other state employee associations. The Office of Management and

Enterprise Services shall develop and implement a verification

process for online or electronically submitted forms which may

include the use of electronic signature technology or other process

as determined appropriate. In addition, the Office of Management

and Enterprise Services shall provide an association representing

state employees with a reconciliation report once a month containing

information related to the name, warrant number and warrant date of

those employees that have opted into the association's membership;

6. Contributions to any foundation organized pursuant to 26

U.S.C., Section 501(c)(3) of the Oklahoma Public Employees

Association or any other statewide association limited to state

employee membership with a minimum membership of two thousand

(2,000) dues-paying members;

7. Payments to a college savings account administered under the

Oklahoma College Savings Plan Act pursuant to Section 3970.1 et seq.

of Title 70 of the Oklahoma Statutes;

8. Subscriptions to the Oklahoma Today magazine published by

the State of Oklahoma through the Oklahoma Tourism and Recreation

Department; and

9. The payment of any insurance premiums due a private

insurance organization, which is regulated by the State Insurance

Commission, for an Oklahoma Long-Term Care Partnership Program

approved policy pursuant to the Oklahoma Long-Term Care Partnership

Act.

C. The administrative costs of processing payroll deductions or

administering salary adjustment agreements for insurance premiums as

provided for in subsection B of this section shall be a charge of

two percent (2%) of the gross annual premiums for insurance plans.

The administrative costs of processing payroll deductions or

administering salary adjustment agreements for payments for

retirement plans as provided for in subsection B of this section

shall be one percent (1%) of the gross annual payments for

retirement plans. These charges shall be collected monthly from the

private insurance or retirement plan organization by the Office of

Oklahoma Statutes - Title 62. Public Finance Page 112

Management and Enterprise Services and shall be deposited to the

credit of the General Revenue Fund. Provided that these costs shall

not be collected from state employees or state agencies unless

otherwise directed in the Oklahoma State Finance Act.

D. Any statewide association granted a payroll deduction prior

to January 1, 2008, shall be exempt from the minimum state employee

membership requirement.

E. Approval of a payroll deduction or salary adjustment

agreement for any insurance organization, line of coverage or policy

shall not be construed as an assumption of liability, for the term

of policy or the performance of the insurance organization, by this

state, or any of its agencies or any officer or employee thereof.

Contracts for such insurance shall be in all respects subject to the

insurance laws of this state, and shall be enforceable solely

pursuant to such laws.

F. The Oklahoma Employment Security Commission is authorized to

deduct from the wages or salary of its employees the employees'

contribution to the Oklahoma Employment Security Commission

Retirement Plan.

G. Payroll deductions shall be made for premium payments for

group insurance for retired members or beneficiaries of any state-

supported retirement system upon proper authorization given by the

member or beneficiary to the board from which the member or

beneficiary is currently receiving retirement benefits.

H. Upon request of instructional personnel employed at either

the Oklahoma School for the Blind or the Oklahoma School for the

Deaf and pursuant to procedures established by the Director of the

Office of Management and Enterprise Services, the Commission for

Rehabilitation Services shall make payroll deductions for membership

dues in any statewide educational employee organization or

association.

I. Upon the request of a state employee of the Department of

Corrections, the Department shall make voluntary payroll deductions

for the employee to the Correctional Peace Officer Foundation.
Okla. Stat. tit. 62, § 62-41.34 — OK Code / Title 62 / Section 62-41.34
Renumbered as § 34.37 of this title by Laws 2009, c
Status: in_force

441, § 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-34.24 — OK Code / Title 62 / Section 62-34.24
State portal system
Status: in_force

A. In order to be at the forefront of electronic commerce and

provide constituents, agencies and out-of-state users with state-of-

the-art electronic commerce and Internet tools, the State of

Oklahoma recognizes the need for a state portal system connecting

state agency websites and information systems.

B. The Information Services Division of the Office of

Management and Enterprise Services shall manage the installation,

maintenance and administration of the state portal system.

C. For purposes of this section and Section 34.27 of this

title, a "portal system" shall mean a system that hosts and connects

to a collection of online government and public services and serves

as the single point of access to state government services,

information, and transaction processing with a common enterprise

wide user interface allowing navigation among the services.

Oklahoma Statutes - Title 62. Public Finance Page 63
Okla. Stat. tit. 62, § 62-426a — OK Code / Title 62 / Section 62-426a
Refund by municipalities of bonded and judgment
Status: in_force

indebtedness and interest by funding or refunding term bonds -

Oklahoma Statutes - Title 62. Public Finance Page 423

Redemption - Interest - Tenders at less than par - Call and purchase

of bonds when no tenders made.

Any municipality may refund any part or all of its bonded and

judgment indebtedness and the interest thereon, by agreement with

holders of such indebtedness to be funded or refunded, by issuance

of funding or refunding bonds maturing within twenty-five (25) years

from date. When any such funding or refunding bonds mature other

than serially they shall be optional and subject to redemption on

any interest-paying date. Said bonds shall be designated optional

funding or refunding bonds, and shall recite that they are subject

to redemption at any interest-paying date. Said bonds shall be

authorized, executed, registered and approved in the same manner as

funding and refunding bonds issued under other statutes in force.

Provided, however, that no funding or refunding bonds issued

hereunder shall bear a higher rate of interest than the indebtedness

which is funded or refunded.

It shall be the duty of the treasurer and governing board of any

municipality issuing funding or refunding bonds under the provisions

of this act to request tenders from all known holders of such bonds

at least thirty (30) days prior to each interest paying date. The

form of such call for tenders setting out the time and place and

other particulars shall be prescribed by the Attorney General. The

said treasurer and governing board are hereby directed to purchase

any bonds which may have been offered at less than par, provided

preference must be given to the purchase of bonds which are offered

for the least money. Provided further that if no bonds are offered

at less than par, then it shall be the duty of the treasurer and

governing board to call by lot at par and accrued interest as many

of the bonds as he may have funds on hand for that purpose and that

interest on said bonds so called shall cease within sixty (60) days

after said call is made. All tenders of bonds and all drawing of

bonds by lot shall be performed in a public meeting of the governing

board. Provided sufficient money is retained in the sinking fund to

pay the next two succeeding semiannual interest payments coming due

on each bond.or refunding term bonds - Redemption - Interest - Tenders at less than par - Call and purchase of
Okla. Stat. tit. 62, § 62-854 — OK Code / Title 62 / Section 62-854
Additional powers granted to city, town or county
Status: in_force

In addition to any other powers conferred by law, a city, town

or county may exercise any powers necessary to carry out the purpose

of this act, including power to:

1. Establish districts and create plans pursuant to the

provisions of this act;

2. Cause project plans to be prepared, to approve the plans,

and to implement the provisions and effectuate the purposes of the

plans;

3. Cause bonds to be issued by public entities as provided for

in Section 863 of this title;

4. Apportion local taxes or local fees and direct the use of

local taxes and local fees for the purpose provided for in this act.

Pursuant to Section 6C of Article X of the Constitution of the State

of Oklahoma, a direction of apportionment may be prospective and may

continue for one (1) or more years, and apportioned tax increments

may be pledged beyond the current fiscal year to the repayment of

indebtedness of other public entities, notwithstanding the

provisions of Section 26 of Article X of the Constitution of the

State of Oklahoma or any other provisions of law;

5. Enter into any contracts or agreements determined by the

governing body to be necessary or convenient to implement the

provisions and effectuate the purposes of project plans;

6. Receive, from the federal government or the state, loans and

grants for, or in aid of a project and to receive contributions from

any other source to defray project costs;

7. Grant tax incentives or exemptions in the manner provided

for in this act;

8. Acquire by purchase, donation or lease, and own, convey,

lease, mortgage, or dispose of land and other property, real or

personal, or rights or interests therein;

9. Clear and improve property acquired by it pursuant to the

project plan and construct public facilities on it or contract for

the construction, development, redevelopment, rehabilitation,

remodeling, alteration, or repair of the property;

10. Cause parks, playgrounds, or schools, including capital

improvements to public schools, or water, sewer, or drainage

facilities or any other public improvements which it is otherwise

authorized to undertake, to be laid out, constructed, or furnished

in connection with the project;

11. Lay out and construct, alter, relocate, change the grade

of, make specific repairs upon, or discontinue public ways and

construct sidewalks in, or adjacent to, the project area;

Oklahoma Statutes - Title 62. Public Finance Page 545

12. Cause sidewalks, ways for vehicular travel, playgrounds, or

water, sewer, or drainage facilities and similar improvements to be

constructed within the project area for the particular benefit of

the project area or those dwelling or working in it;

13. Adopt ordinances or resolutions or repeal or modify such

ordinances or resolutions or establish exceptions to existing

ordinances and resolutions regulating the design, construction, and

use of buildings;

14. Sell, mortgage, lease, transfer, or dispose of any

property, or interest therein, acquired by it pursuant to the

project plan for development, redevelopment, or rehabilitation in

accordance with the plan, upon such terms and conditions determined

by the governing body to be appropriate for achieving the objectives

of the project plan; provided, in the event of disposition by lease

or sublease to a lessee not entitled to a tax exemption, the

improvements placed thereon shall not be entitled to a tax

exemption;

15. Incur project costs;

16. Designate a public entity to exercise the powers enumerated

in this section, except paragraphs 1, 4 and 7 of this section;

17. Invest project revenues as provided in this act; and

18. Do all things necessary or convenient to carry out the

powers granted in this act and otherwise authorized by the laws of

this state.
Okla. Stat. tit. 62, § 62-2317 — OK Code / Title 62 / Section 62-2317
Renumbered from § 600.23 of Title 37 by Laws 2016, c
Status: in_force

366, § 187, eff. Oct. 1, 2018. Renumbered back to original number

as § 600.23 of Title 37 by Laws 2018, c. 270, § 4.Oklahoma Statutes - Title 62. Public Finance Page 23
Okla. Stat. tit. 62, § 62-91.3 — OK Code / Title 62 / Section 62-91.3
Definitions
Status: in_force

As used in the Oklahoma Rural and Affordable Housing Linked

Deposit Act:

1. "Eligible rural housing developer" means any individual,

partnership, domestic limited liability company, or domestic

corporation within the State of Oklahoma which is engaged in the

construction, building or development of rural housing, as certified

by a state agency or instrumentality selected by the State Treasurer

to perform a certification process. The certification shall be

designed to select developers who will meet new construction needs

in designated, underserved rural target markets;

2. "Eligible lending institution" means a financial institution

that agrees to participate in the Oklahoma Rural and Affordable

Housing Linked Deposit Program, and:

a. is eligible to make commercial loans, and

b. is a public depository of state funds, or

c. is an institution of the farm credit system organized

under the federal Farm Credit Act of 1971, 12 U.S.C.,

Section 2001, as amended;

3. "Rural housing" means any single-family or multifamily

dwelling to be constructed or rehabilitated in rural areas of

Oklahoma;

4. “Rural areas" means areas of the state outside of high

population centers and already well-developed metropolitan areas,

which are not adequately served by existing home builders and

developers in meeting supply needs for adequate rural housing. The

certifying agency shall be responsible to adopt guidelines to

identify the specific rural areas which are not adequately served in

meeting supply needs for adequate housing; provided, for purposes of

this act, a "rural area" shall include a specific geographic area

Oklahoma Statutes - Title 62. Public Finance Page 325

which meets the definition of an "opportunity zone" as the term is

defined in paragraph 2 of subsection G of Section 3604 of Title 68

of the Oklahoma Statutes;

5. "Rural housing linked deposit" means a certificate of

deposit placed by the State Treasurer with an eligible lending

institution or an investment in bonds, notes, debentures, or other

obligations or securities issued by the federal farm credit bank

with regard to an eligible lending institution for the purpose of

carrying out the intent of this act;

6. "Rural housing linked deposit loan package" means the forms

provided by the State Treasurer for the purpose of applying for a

rural housing linked deposit; and

7. "Certifying agency" means the state agency or

instrumentality selected by the State Treasurer to perform the

certification process for rural housing developers, to develop

guidelines required by this act, and to review individual rural

housing linked deposit loan packages.
Okla. Stat. tit. 62, § 62-4001 — OK Code / Title 62 / Section 62-4001
Oklahoma Centennial Botanical Garden Authority - Uses and
Status: in_force

purposes.

The uses and purposes of the Oklahoma Centennial Botanical

Garden Authority are hereby declared in furtherance of a public

function and purpose and vital to the public welfare of the people

of Oklahoma, and all actions heretofore taken by said Authority are

hereby in all respects approved and ratified and the State of

Oklahoma hereby approves and accepts beneficial interest in the

Oklahoma Centennial Botanical Garden Authority.
Okla. Stat. tit. 62, § 62-89.1a — OK Code / Title 62 / Section 62-89.1a
Investment with state financial institutions at less
Status: in_force

than competitive market rate.

In order to help provide for the capital needs of this state,

the State Treasurer may invest monies at less than competitive

market rates with financial institutions of this state. Not more

than ten percent (10%) of all monies available to the State

Treasurer for investment purposes or One Hundred Million Dollars

($100,000,000.00), whichever is less, shall be invested as provided

for in this section. Such investments shall earn not less than the

rate for comparable maturities on United States Treasury

obligations.

Provided, no more than Ten Million Dollars ($10,000,000.00) of

monies specified in this section shall be invested in any one

financial institution and no monies specified in this section shall

be invested in a financial institution that has a loan-to-deposit

ratio of less than fifty percent (50%).
Okla. Stat. tit. 62, § 62-35.9 — OK Code / Title 62 / Section 62-35.9
Quarterly progress reports
Status: in_force

In addition to any other reporting requirements required by law,

the Chief Information Officer shall submit quarterly progress

reports to the Director of the Office of Management and Enterprise

Services, the Speaker of the House of Representatives and the

President Pro Tempore of the Senate. The reports shall be submitted

not later than January 31, April 30, July 31 and October 31 of each

year and shall include, but not be limited to, the following

information:

Oklahoma Statutes - Title 62. Public Finance Page 156

1. The status of the implementation of the plan of action

required in paragraph 2 of subsection D of Section 34.11.1 of this

title;

2. A list of information technology assets and positions

transferred to the Information Services Division of the Office of

Management and Enterprise Services pursuant to the provisions of

subsection C of Section 35.5 of this title;

3. After July 1, 2012, and until the information technology

consolidation is completed, an annual reduction of three percent

(3%) in operational information technology and telecommunications

expenditures realized in the aggregate by all consolidated state

agencies;

4. A list of all state agencies which are not using the shared

services as required in Section 35.6 of this title;

5. A list of all exemptions or extensions granted pursuant to

the provisions of Section 35.7 of this title; and

6. Any other information as deemed appropriate by the Chief

Information Officer.
Okla. Stat. tit. 62, § 62-120.3 — OK Code / Title 62 / Section 62-120.3
Advertisement and bids
Status: in_force

In connection with every cash sale of state equipment, for the

purpose stated in this act, the purchasing officer of department,

institution or agency shall either publicly advertise the sale of

equipment or secure at least three bids in writing, unless the

estimated sale value is less than Fifty Dollars ($50.00). The

record sale, including all the bids received, shall be considered a

matter of public record and shall be so maintained for a period of

not less than ten (10) years.
Okla. Stat. tit. 62, § 62-57.17 — OK Code / Title 62 / Section 62-57.17
Issuance and sale of bonds - Pledges and covenants -
Status: in_force

Sinking fund.

The Commission, acting for and on behalf of the State of

Oklahoma, is hereby authorized and empowered to issue, sell and

deliver to the State Treasurer, or to the Commissioners of the Land

Office of the State of Oklahoma, or to other purchasers, as

hereinafter provided for, "State of Oklahoma Buildings Bonds of

1955", in a total principal amount not to exceed Fifteen Million

Dollars ($15,000,000.00). It is hereby expressly provided and

pledged for the benefit of the purchasers, owners and holders of

said bonds that any remainder available from the two cents ($0.02)

of the tax on each package of cigarettes authorized and levied by 68

O.S.1941, Sections 538 and 586p, as amended and supplemented to the

effective date of Section 31 of Article X of the Constitution of the

State of Oklahoma, after the annual requirements for the payment of

the interest on, and principal of, the Thirty-six Million Dollars

($36,000,000.00) of "State of Oklahoma Building Bonds" authorized by

Section 31 of Article X of the Constitution of the State of Oklahoma

and Chapter 4 of House Bill No. 4 of the Extraordinary Session of

the Twenty-second (1949) Oklahoma Legislature have been fully met

and said Thirty-six Million Dollars ($36,000,000.00) bond issue

fully retired as to both principal and interest or so much of said

remainder as shall be necessary, and, thereafter, the full amount of

said two cents ($0.02) of said tax on each package of cigarettes, or

so much thereof as may be necessary, and if, at any time, said

remainder of said two cents ($0.02) of the tax on each package of

cigarettes, or said two cents ($0.02) of the tax on each package of

cigarettes, as the case might be, shall not be sufficient for said

purpose, three cents ($0.03) of the tax now imposed, or which may

hereafter be imposed, on each package of cigarettes containing more

than twenty cigarettes, or so much of said three cents ($0.03) of

said tax as may be necessary, shall be devoted irrevocably to the

payment and discharge of the interest on, and the principal of, the

bonds issued hereunder as the same become due, and to create an

adequate reserve to assure such payments when due; and said revenues

shall be, and hereby are, irrevocably pledged for such purposes.

There is hereby created, in the State Treasury, a fund to be known

as the "State of Oklahoma Building Bonds of 1955 Sinking Fund,"

which sinking fund is hereby irrevocably pledged to the payment of

the interest on, and principal of, the bonds issued hereunder; and

monies to the credit thereof shall be paid out only in the manner

and at the time and places provided for in the resolution or

resolutions of the Commission authorizing the issuance of the bonds.

Beginning July 1, 1955, the Oklahoma Tax Commission, when

transmitting to the State Treasurer the monthly collection of the

Oklahoma Statutes - Title 62. Public Finance Page 204

tax on cigarettes, hereinabove mentioned, shall also transmit to the

State Treasurer a schedule showing the net proceeds of two cents

($0.02) of the tax on each package of twenty cigarettes or less, and

the net proceeds of three cents ($0.03) of the tax on each package

of more than twenty cigarettes. It shall be the duty of the State

Treasurer, upon receiving said taxes and schedules from the Oklahoma

Tax Commission, to deposit in said sinking fund, such portions of

the cigarette tax or taxes hereinabove pledged to the payment of the

bonds issued hereunder as may be necessary to assure prompt payment

of the interest on, and the principal of, said bonds as the same

falls due and to comply with the covenants hereof with respect to

reserve requirements. The cigarette tax monies hereinabove pledged

to the retirement of said bonds shall constitute the primary revenue

dedicated to the payment of the interest on, and the principal of,

the bonds issued hereunder, but it is further pledged, for the

purchasers, owners and holders of said bonds, that the State of

Oklahoma will, if and when it shall appear to be necessary, devote,

irrevocably, to the payment of the interest on, and principal of,

said bonds, any funds available in any fund or funds of the state

not created or realized from ad valorem tax sources or so much

thereof as may be necessary for such purpose, and, if the funds

hereinabove mentioned are not sufficient for such purpose, will

impose and collect a tax, other than an ad valorem tax, and devote

the same, or so much thereof as may be necessary, to the payment of

the interest on, and principal of, the bonds issued hereunder. The

bonds issued hereunder, and the interest thereon, shall be general

obligations of the State of Oklahoma, and the full faith, credit and

resources of the State of Oklahoma are pledged to their payment. The

Commission is authorized to incorporate in the face of each of the

bonds issued under this act, pledges the same or substantially the

same as those made herein. The pledges and covenants so made by the

Commission shall constitute the commitment of the State of Oklahoma,

made in full good faith, in its sovereign capacity, and shall be

binding upon said state and the Legislature, officers,

instrumentalities and agents thereof, so long as any of the interest

on, or principal of, said bonds shall remain outstanding and unpaid.

The Commission is authorized to make such other equally-binding

covenants and agreements, not inconsistent with this act or Section

33 of Article X of the Constitution of the State of Oklahoma, as it

deems to be needful and appropriate to the general purpose of

effectuating this act.
Okla. Stat. tit. 62, § 62-332 — OK Code / Title 62 / Section 62-332
Forms to be prescribed by State Auditor and Inspector
Status: in_force

All forms required for effective operation of this act shall be

prescribed by the State Auditor and Inspector.
Okla. Stat. tit. 62, § 62-543 — OK Code / Title 62 / Section 62-543
Marking and record of securities purchased - Account of
Status: in_force

treasurer.

Each and every item of securities purchased as an investment

under the first and foregoing section hereof shall be marked or

stamped with a number, and so recorded as in form prescribed, which

record shall not fail to disclose unmatured coupons attached to any

negotiable coupon bond purchased; and the account of such treasurer

with each such sinking fund shall distinguish between the cash and

investments belonging thereto. Such record shall, as to any sale,

make reference to the district court case authorizing the same and

the effect of such order. Moreover, at the time investment is made,

each and every item of such securities payable to bearer shall be

marked or stamped: "This (item) is the property of the Sinking Fund

of (naming the municipality) as an investment therein, and no

assignment therein, and no assignment thereof shall have any force

and effect unless it makes reference to the order of the district

court authorizing the same.
Okla. Stat. tit. 62, § 62-57.102 — OK Code / Title 62 / Section 62-57.102
Agency for issue and sale
Status: in_force

That the State of Oklahoma Building Bonds Commission, created by

Title 62, Oklahoma Statutes 1961, Section 57.1, acting for and on

behalf of the State of Oklahoma, shall be the agency by and through

which the State of Oklahoma shall issue and sell a portion of the

"State of Oklahoma Institutional Bonds of 1965" authorized and

directed by said House Bill No. 1122.
Okla. Stat. tit. 62, § 62-561 — OK Code / Title 62 / Section 62-561
Advances made by United States for planning public works
Status: in_force

as not creating present indebtedness within meaning of Constitution.

It is the sense of the Legislature that the State of Oklahoma,

its agencies and subdivisions, counties, cities, towns, and school

districts should participate in the Program of Advances for Public

Works Planning under Public Law No. 560, 83d Congress, as amended,

and it is the further sense of the Legislature that any advances of

funds made by the United States to the same under such program for

the purpose of planning public works in the State of Oklahoma are

repayable only when and if the public works so planned is undertaken

and does not create any present indebtedness within the meaning of

Article X, Section 26, of the Constitution of the State of Oklahoma.Oklahoma Statutes - Title 62. Public Finance Page 17
Okla. Stat. tit. 62, § 62-891.10 — OK Code / Title 62 / Section 62-891.10
Oklahoma Department of Commerce rules and forms -
Status: in_force

Prioritized list - Authority for the Infrastructure Pool.

A. The Oklahoma Department of Commerce shall promulgate rules

for purposes of establishing criteria for the funding of authorized

infrastructure projects from the proceeds of obligations issued by

the Authority for the Infrastructure Pool.

B. The criteria shall be similar to the criteria used by the

federal government in administering the Community Development Block

Grant program.

C. A combination of eligible local government entities shall

apply to the Department for approval of a pooled financing for an

infrastructure project on such forms as the Department may prescribe

for such purpose.

Oklahoma Statutes - Title 62. Public Finance Page 589

D. The Department shall compile and maintain a prioritized list

of infrastructure projects eligible for pooled financing through the

Oklahoma Development Finance Authority.

E. The Oklahoma Development Finance Authority shall use the

prioritized list provided by the Department in order to provide

financing to the eligible local government entities.

F. The Authority shall, within the limit on available bond

proceeds in the Infrastructure Pool, provide proceeds in accordance

with the scoring system used by the Department.
Okla. Stat. tit. 62, § 62-89.7 — OK Code / Title 62 / Section 62-89.7
Investment performance reports
Status: in_force

A. The State Treasurer shall prepare monthly and annual

investment performance reports of the State Treasurer's Office in

the form and manner required by the Cash Management and Investment

Oversight Commission after consultation with the State Treasurer

which summarize recent market conditions, economic developments and

anticipated investment conditions and the investment plan

Oklahoma Statutes - Title 62. Public Finance Page 314

performance, including portfolio diversification and rates of return

measured against the investment plan of the State Treasury. The

annual investment performance report shall be submitted to the

Commission and shall be made within ninety (90) calendar days after

the end of the fiscal year. The monthly investment performance

reports shall be submitted to the Executive Review Committee and

shall be made within thirty (30) days after the end of the

applicable month. The investment performance reports shall specify

the investment strategies employed in the most recent reporting

period and describe the investment portfolio of the state in terms

of:

1. Securities;

2. Maturities;

3. Fund type;

4. Financial institutions from which securities were purchased,

including the amounts and the city and state of location;

5. Investment return compared to budgetary expectations;

6. Average yield; and

7. Average life of the portfolio.

The investment performance reports shall also indicate any areas of

concern which the State Treasurer has concerning the basic

investment strategies being employed. The investment performance

reports shall contain:

a. combined and individual rates of return and a list of

all losses by category of investment, over periods of

time;

b. the rate of return on deposits and all fees and

expenses charged as to all depository financial

institutions of the State Treasury and a specific

review of the adequacy of the collateralization;

c. any other information that the State Treasurer may

include; and

d. such other information that the Cash Management and

Investment Oversight Commission created by Section

71.1 of this title may request and that the State

Treasurer agrees to include in the investment

performance reports.

B. To the extent that the State Treasurer should have reason to

know, the State Treasurer shall also include in the investment

performance reports a listing of all payments, fees, commissions, or

other compensation received by any person, including but not limited

to individuals, financial institutions, or investment companies or

corporations, which have an investment agreement, contract, or other

arrangement with the State Treasurer, or who receive any

compensation as a result of a transaction involving the investment

of state monies or funds or the purchase, sale, or trade of

securities or bonds involving the Office of the State Treasurer.

Oklahoma Statutes - Title 62. Public Finance Page 315

Said listings shall also include the social security or federal

identification number of any person, including but not limited to

individuals, financial institutions, or investment companies or

corporations, receiving payments, fees, commissions, or other

compensation.

C. The annual investment performance report shall be written in

simple and easily understood language containing:

a. an analysis of the written investment plans developed

by the Treasurer as required by law;

b. a quantitative analysis of the performance of all

depository financial institutions approved by the

State Treasurer, with regard to monies deposited;

c. the result of the analyses prepared pursuant to

subparagraphs a and b of this paragraph compared with

similar data for other states;

d. recommendations on administrative and legislative

changes which are necessary to improve the performance

of the State Treasury in accordance with current

standards for large public fund portfolio management;

and

e. a listing by object code of the expenses of the State

Treasury as audited by the independent auditor

provided by Section 89.10 of this title.

D. The State Treasurer shall distribute the investment

performance reports to the Governor, the President Pro Tempore of

the Senate, the Speaker of the House of Representatives, the State

Auditor and Inspector, the Attorney General, and members of the Cash

Management and Investment Oversight Commission. Upon request, the

State Treasurer shall make the annual investment performance report

available to the members of the Legislature and the general public.

The annual investment performance report shall also include an

investment plan for the ensuing fiscal year.

E. The State Treasurer shall require all employees in the State

Treasury to sign an anti-collusion affidavit. Execution of a false

affidavit shall make such employees subject to disciplinary action,

including but not limited to termination, criminal prosecution or

both.

F. The State Treasurer shall require an anti-collusion

affidavit from brokers or other persons offering investment services

to the State Treasury. The State Treasurer shall be prohibited from

employing or doing business with any brokers or persons offering

investment services to the State Treasury who have not executed such

an affidavit.

G. The Cash Management and Investment Oversight Commission

shall certify that the State Treasurer has delivered to the

Commission the monthly and annual investment performance reports and

the annual financial report required by this section. If the

Oklahoma Statutes - Title 62. Public Finance Page 316

Commission determines that these reports have not been delivered by

the State Treasurer as required by law, the Commission shall notify

in writing the Governor, the Speaker of the House of

Representatives, the President Pro Tempore of the Senate, the

Attorney General, and the State Auditor and Inspector.
Okla. Stat. tit. 62, § 62-34.102 — OK Code / Title 62 / Section 62-34.102
Revenue Stabilization Fund
Status: in_force

A. There is hereby created in the State Treasury a revolving

fund to be known and designated as the "Revenue Stabilization Fund".

Oklahoma Statutes - Title 62. Public Finance Page 130

The fund shall be a continuing fund, not subject to fiscal year

limitations.

B. For determinations made regarding deposits for fiscal years

beginning on or after July 1, 2019, no monies shall be deposited to

the credit of the Revenue Stabilization Fund until such time as the

amount of actual revenue certified by the State Board of

Equalization as having been deposited into the General Revenue Fund

for the first fiscal year prior to the beginning of the fiscal year

that deposits to the Revenue Stabilization Fund are first made

equals or exceeds Six Billion Six Hundred Million Dollars

($6,600,000,000.00).

C. Once the provisions prescribed by subsection B of this

section have been met, deposits to the Revenue Stabilization Fund as

prescribed by this section may be made during any subsequent fiscal

year according to the requirements and limitations imposed by this

act; provided that no deposits shall be made during a fiscal year

where the State Board of Equalization General Revenue Fund

certification for said fiscal year is less than the State Board of

Equalization General Revenue Fund certification for the previous

fiscal year plus an increment equal to the amount otherwise

calculated for deposit pursuant to subsection E of this section.

D. Notwithstanding any other provisions of this section, unless

such deposits are the result of a direct appropriation to the

Revenue Stabilization Fund by the Legislature, no monies shall be

deposited to the credit of the Revenue Stabilization Fund:

1. For any month during a fiscal year after the month during

which the declaration of a revenue failure pursuant to the

provisions of Section 34.49 of this title has been made. For

purposes of this subsection, the limitation on deposits to the

Revenue Stabilization Fund shall be imposed for the remaining months

of the fiscal year during which the revenue failure was declared,

but shall not operate as a limitation upon deposits for any

subsequent fiscal year unless a revenue failure is declared at some

time during such fiscal year; or

2. That would cause deposits to the Revenue Stabilization Fund

for the fiscal year to exceed three percent (3%) of the State Board

of Equalization General Revenue Fund certification for that fiscal

year.

E. Except as provided in subsection I of this section, the

Revenue Stabilization Fund shall consist of:

1. One hundred percent (100%) of the revenue derived from the

gross production tax on oil levied pursuant to Section 1001 of Title

68 of the Oklahoma Statutes which is in excess of the five-year

average computed as prescribed by Section 34.103 of this title;

2. One hundred percent (100%) of the revenue derived from the

gross production tax on natural gas levied pursuant to Section 1001

Oklahoma Statutes - Title 62. Public Finance Page 131

of Title 68 of the Oklahoma Statutes which is in excess of the five-

year average computed as prescribed by Section 34.103 of this title;

3. Seventy-five percent (75%) of the revenue derived from

corporate income tax levied pursuant to Section 2355 of Title 68 of

the Oklahoma Statutes which is in excess of the five-year average

computed as prescribed by Section 34.103 of this title; and

4. Any amounts appropriated by the Legislature.

F. 1. Except as provided in paragraph 2 of this subsection, in

the event that a revenue failure is declared with respect to the

General Revenue Fund pursuant to Section 34.49 of this title, the

Director of the Office of Management and Enterprise Services may

withdraw up to one-quarter (1/4) of the balance of the Revenue

Stabilization Fund available at the beginning of the fiscal year,

provided the total amount withdrawn shall not exceed the amount of

the declared revenue failure, to in equal proportions reduce or

avoid reductions to agencies for the current fiscal year and to

mitigate potential reductions of funds to be expended by common

school districts which were appropriated or authorized by the

Legislature, but excluding any funds which are apportioned directly

to common school districts.

2. For the fiscal year ending June 30, 2020, in the event that

a revenue failure is declared with respect to the General Revenue

Fund pursuant to Section 34.49 of this title, the Director of the

Office of Management and Enterprise Services may withdraw amounts up

to a total of one-half (1/2) of the highest balance during the

fiscal year ending June 30, 2020, of the Revenue Stabilization Fund;

provided, the total amount withdrawn shall not exceed the amount of

the declared revenue failure less any appropriations made by the

Legislature to offset such revenue failure, to in equal proportions

reduce or avoid reductions to agencies for the fiscal year and to

mitigate potential reductions of funds to be expended by common

school districts which were appropriated or authorized by the

Legislature for the fiscal year ending June 30, 2020, but excluding

any funds which are apportioned directly to common school districts.

No monies shall be withdrawn under the provisions of this subsection

for the purpose of reducing or avoiding reductions of appropriations

made pursuant to Section 129 of Enrolled House Bill No. 2765 of the

1st Session of the 57th Oklahoma Legislature or Section 1 of

Enrolled Senate Bill No. 1076 of the 1st Session of the 57th

Oklahoma Legislature.

G. In the event that a revenue failure is declared with respect

to the General Revenue Fund pursuant to Section 34.49 of this title,

the Legislature may appropriate up to one-quarter (1/4) of the

balance of the Revenue Stabilization Fund available at the beginning

of the fiscal year, not to exceed the amount of the revenue failure

as declared with respect to the General Revenue Fund pursuant to

Section 34.49 of this title.

Oklahoma Statutes - Title 62. Public Finance Page 132

H. If the amount of revenue certified by the State Board of

Equalization at its February meeting in any year to be collected in

the General Revenue Fund for the upcoming fiscal year is less than

the amount of revenue certified by the State Board of Equalization

to be collected in the General Revenue Fund for the current fiscal

year as determined at its February meeting conducted in the

preceding calendar year, the Legislature may appropriate up to one-

half (1/2) of the balance of the Revenue Stabilization Fund

available at the beginning of the fiscal year; provided, that the

amount withdrawn shall not exceed the amount of the decline in

revenue certified.

I. If during the Board of Equalization certification process,

one or more of the revenue sources identified in paragraphs 1, 2 and

3 of subsection E of this section are forecasted to experience a

revenue decrease, then the total deposits to the Revenue

Stabilization Fund as otherwise calculated under subsection E of

this section shall be reduced in an amount equal to such revenue

decreases. For purposes of this subsection, "revenue decrease"

means an identified revenue source derived in an amount less than

the five-year average for such revenue source.
Okla. Stat. tit. 62, § 62-57.190 — OK Code / Title 62 / Section 62-57.190
Federal aid and assistance
Status: in_force

Any funds appropriated by Sections 6 and 7 of this act may be

used in conjunction or cooperation with any federal agency or

instrumentality under such terms and conditions as may be necessary

to obtain grants of federal aid and assistance, and it shall be the

Oklahoma Statutes - Title 62. Public Finance Page 275

duty of such institutions to make a bona fide attempt to obtain such

federal aid and assistance.
Okla. Stat. tit. 62, § 62-9010.4 — OK Code / Title 62 / Section 62-9010.4
Pay-for success contract requirements
Status: in_force

A. An agency or agencies may enter into a pay-for-success

contract with a private entity or entities to receive up-front

capital to fund a service or program. The agency or agencies may

not enter into a pay-for-success contract until each state agency

head entering into the contract determines with reasonable certainty

that the contract will result in a public benefit to the state.

B. Each pay-for-success contract shall:

1. Require a private entity to underwrite or secure up-front

capital from private funding sources, including foundations,

financial institutions, businesses or individuals;

2. Identify the specific service or program to be funded under

the contract;

3. Identify performance targets and outcome measures against

which the service or program's success can be measured to determine

whether the service or program has achieved quantifiable public

benefits or monetary savings;

4. Require and specify an independent third-party evaluator to

review and issue reports annually at specific times during the

contract term specifying the degree to which the service or program

has met the identified performance targets and outcome measures

specified in the contract;

5. Identify the calculation or algorithm to be used by the

agency or agencies in determining the amount and timing of

reimbursable success payments to the private entity;

Oklahoma Statutes - Title 62. Public Finance Page 685

6. Contain a statement that the independent third-party

evaluator will annually provide a report to the agency or agencies

that includes data deemed relevant by the agency or agencies; and

7. State that the amount of funds to be reimbursed to the

private entity is contingent upon the degree to which the service or

program has met the performance targets and outcome measures as

evaluated by the independent third-party evaluator.

C. No later than April 1 annually, the agency or agencies shall

provide a report to the chairs of the legislative appropriations

committees that contains the evaluation from the independent third-

party evaluator.

D. Payments to private entities for the delivery of performance

targets and outcome measures as authorized in this section shall be

made only in accordance with the terms of the pay-for-success

contract. Payments may be made utilizing the Pay for Success

Innovation Fund created in Section 5 of this act or utilizing other

appropriated agency funds in accordance with Oklahoma law.
Okla. Stat. tit. 62, § 62-403 — OK Code / Title 62 / Section 62-403
Cancellation
Status: in_force

All county, township and other municipal bonds on which final

judgment shall hereafter be rendered by any court of record in this

state shall be canceled in open court, and returned by the clerk of

such court to the clerk of the proper municipality.
Okla. Stat. tit. 62, § 62-82 — OK Code / Title 62 / Section 62-82
Commissioner of Highways, interest on funds to credit of
Status: in_force

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 same; and all interest heretofore earned by any

such deposits or funds, and by the State Treasurer credited to the

general revenue fund, shall be transferred from said fund and

credited to the fund which earned said interest; Provided, there is

any unexpended balance of such fund to which to credit said

interest.
Okla. Stat. tit. 62, § 62-256 — OK Code / Title 62 / Section 62-256
Progressing Rural Economic Prosperity Fund (PREP Fund)
Status: in_force

A. There is hereby created in the State Treasury a special fund

to be designated the "Progressing Rural Economic Prosperity Fund",

also known as the "PREP Fund". The fund shall be a continuing fund,

not subject to fiscal year limitations, and shall consist of all

monies received by the Progressing Rural Economic Prosperity Fund

from appropriations. Said fund shall be subject to legislative

appropriation or transfer as provided by law and shall consist of

all such monies as the Legislature may direct to be appropriated or

transferred to said fund. Expenditures from said fund pursuant to

subsection B of this section shall be made upon warrants issued by

the State Treasurer against claims filed as prescribed by law with

the Director of the Office of Management and Enterprise Services for

approval and payment.

B. The following projects shall continue to receive the benefit

of funds originally appropriated in amounts from the Progressing

Rural Economic Prosperity Fund that may have lapsed, less any amount

that has been expended upon the effective date of this act:

1. Twenty-five Million Dollars ($25,000,000.00) appropriated by

Section 1 of Enrolled House Bill No. 1019 of the 2nd Extraordinary

Session of the 58th Oklahoma Legislature;

Oklahoma Statutes - Title 62. Public Finance Page 360

2. One Million Dollars ($1,000,000.00) appropriated by Section

2 of Enrolled House Bill No. 1019 of the 2nd Extraordinary Session

of the 58th Oklahoma Legislature;

3. Twenty Million Dollars ($20,000,000.00) appropriated by

Section 2 of Enrolled House Bill No. 1016 of the 2nd Extraordinary

Session of the 58th Oklahoma Legislature;

4. Twenty Million Dollars ($20,000,000.00) appropriated by

Section 3 of Enrolled House Bill No. 1016 of the 2nd Extraordinary

Session of the 58th Oklahoma Legislature;

5. Twenty Million Dollars ($20,000,000.00) appropriated by

Section 4 of Enrolled House Bill No. 1016 of the 2nd Extraordinary

Session of the 58th Oklahoma Legislature;

6. Twenty-two Million Three Hundred Fifty Thousand Dollars

($22,350,000.00) appropriated by Section 5 of Enrolled House Bill

No. 1016 of the 2nd Extraordinary Session of the 58th Oklahoma

Legislature;

7. Fourteen Million Dollars ($14,000,000.00) appropriated by

Section 6 of Enrolled House Bill No. 1016 of the 2nd Extraordinary

Session of the 58th Oklahoma Legislature;

8. Four Million Dollars ($4,000,000.00) appropriated by Section

7 of Enrolled House Bill No. 1016 of the 2nd Extraordinary Session

of the 58th Oklahoma Legislature;

9. Twenty-two Million Five Hundred Thousand Dollars

($22,500,000.00) appropriated by Section 2 of Enrolled House Bill

No. 1017 of the 2nd Extraordinary Session of the 58th Oklahoma

Legislature; and

10. Five Million Dollars ($5,000,000.00) appropriated by

Section 3 of Enrolled House Bill No. 1017 of the 2nd Extraordinary

Session of the 58th Oklahoma Legislature.
Okla. Stat. tit. 62, § 62-695.2 — OK Code / Title 62 / Section 62-695.2
Legislative findings and declarations
Status: in_force

The Legislature hereby finds and declares that there is a need

to establish procedures for the efficient sale and issuance of bonds

or other obligations by State Governmental Entities which are hereby

declared to be essential to the economic well-being of the state.

The Legislature further declares that there are hereby adopted

procedures, requirements and methods allowing for significant

systematic oversight of State Governmental Entity issuers of bonds

or other obligations. The Legislature further declares such

oversight is essential to protect the public welfare of the State of

Oklahoma.
Okla. Stat. tit. 62, § 62-275.7 — OK Code / Title 62 / Section 62-275.7
Storage facilities - Duties of Director - Construction,
Status: in_force

rent or lease - Contracts.

The Director of the Department of Human Services is hereby

authorized to provide any storage facilities which in the judgment

of the Commission for Human Services is needed to store paid

warrants from the administration account of the Human Services

Medical and Assistance Fund under the control of the Commission for

Human Services. The Department of Human Services is authorized to

construct, rent or lease any necessary storage facilities, and to

alter, or to enter into contracts for the alteration of such storage

facilities to place them in a condition for proper protection of

such records. The Director of the Department of Human Services is

further authorized to employ necessary personnel and to contract for

the purchase or lease of necessary equipment to carry out the

purposes of this act.
Okla. Stat. tit. 62, § 62-690.18 — OK Code / Title 62 / Section 62-690.18
Priority Enterprise Zones
Status: in_force

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 the Priority Enterprise Zones shall be developed by the

Oklahoma Department of Commerce. The criteria for selection may

include but shall not be limited to the degree of need, the

likelihood of success in attracting new economic growth, and the

evidence of local commitment. The criteria for selection of

Priority Enterprise Zones shall be subject to the Administrative

Procedures Act.

B. An enterprise zone that is selected as a Priority Enterprise

Zone, regardless of its change in statistics, shall continue in its

status as a Priority Enterprise Zone for a minimum of three (3)

years.

Oklahoma Statutes - Title 62. Public Finance Page 484

C. The Oklahoma Department of Commerce shall work with other

agencies, entities, and groups to assist Priority Enterprise Zones

in obtaining other services vital to the economic recovery of such

zones.
Okla. Stat. tit. 62, § 62-34.11.1 — OK Code / Title 62 / Section 62-34.11.1
Chief Information Officer
Status: in_force

A. There is hereby created the position of Chief Information

Officer who shall be appointed by the Governor. The Chief

Information Officer, in addition to having authority over the

Oklahoma Statutes - Title 62. Public Finance Page 36

Information Services Division of the Office of Management and

Enterprise Services, shall also serve as Secretary of Information

Technology and Telecommunications or successor cabinet position and

shall have jurisdictional areas of responsibility related to

information technology and telecommunications systems of all state

agencies as provided for in state law. The salary of the Chief

Information Officer shall not be less than One Hundred Thirty

Thousand Dollars ($130,000.00) or more than One Hundred Sixty

Thousand Dollars ($160,000.00).

B. Any person appointed to the position of Chief Information

Officer shall meet the following eligibility requirements:

1. A baccalaureate degree in Computer Information Systems,

Information Systems or Technology Management, Business

Administration, Finance, or other similar degree;

2. A minimum of ten (10) years of professional experience with

responsibilities for management and support of information systems

and information technology, including seven (7) years of direct

management of a major information technology operation;

3. Familiarity with local and wide-area network design,

implementation, and operation;

4. Experience with data and voice convergence service

offerings;

5. Experience in developing technology budgets;

6. Experience in developing requests for proposal and

administering the bid process;

7. Experience managing professional staff, teams, and

consultants;

8. Knowledge of telecommunications operations;

9. Ability to develop and set strategic direction for

information technology and telecommunications and to manage daily

development and operations functions;

10. An effective communicator who is able to build consensus;

11. Ability to analyze and resolve complex issues, both logical

and interpersonal;

12. Effective verbal and written communications skills and

effective presentation skills, geared toward coordination and

education;

13. Ability to negotiate and defuse conflict; and

14. A self-motivator, independent, cooperative, flexible and

creative.

C. The salary and any other expenses for the Chief Information

Officer shall be budgeted as a separate line item through the Office

of Management and Enterprise Services. The operating expenses of

the Information Services Division shall be set by the Chief

Information Officer and shall be budgeted as a separate line item

through the Office of Management and Enterprise Services. The

Office of Management and Enterprise Services shall provide adequate

Oklahoma Statutes - Title 62. Public Finance Page 37

office space, equipment and support necessary to enable the Chief

Information Officer to carry out the information technology and

telecommunications duties and responsibilities of the Chief

Information Officer and the Information Services Division.

D. 1. Within twelve (12) months of appointment, the first

Chief Information Officer shall complete an assessment, which shall

be modified annually pursuant to Section 35.5 of this title, of the

implementation of the transfer, coordination, and modernization of

all information technology and telecommunication systems of all

state agencies in the state as provided for in the Oklahoma

Information Services Act. The assessment shall include the

information technology and telecommunications systems of all

institutions within The Oklahoma State System of Higher Education,

the Oklahoma State Regents for Higher Education and the

telecommunications network known as OneNet as assembled and

submitted by the Oklahoma Higher Education Chief Information

Officer, as designated by the Oklahoma State Regents for Higher

Education.

2. Within twelve (12) months of appointment, the first Chief

Information Officer shall issue a report setting out a plan of

action which will include the following:

a. define the shared service model organization structure

and the reporting relationship of the recommended

organization,

b. the implementation of an information technology and

telecommunications shared services model that defines

the statewide infrastructure environment needed by

most state agencies that is not specific to individual

agencies and the shared applications that are utilized

across multiple agencies,

c. define the services that shall be in the shared

services model under the control of the Information

Services Division of the Office of Management and

Enterprise Services,

d. define the roadmap to implement the proposed shared

services model. The roadmap shall include

recommendations on the transfer, coordination, and

modernization of all information technology and

telecommunication systems of all the state agencies in

the state,

e. recommendations on the reallocation of information

technology and telecommunication resources and

personnel,

f. a cost benefit analysis to support the recommendations

on the reallocation of information technology and

telecommunication resources and personnel,

Oklahoma Statutes - Title 62. Public Finance Page 38

g. a calculation of the net savings realized through the

reallocation and consolidation of information

technology and telecommunication resources and

personnel after compensating for the cost of

contracting with a private consultant as authorized in

paragraph 4 of this subsection, implementing the plan

of action, and ongoing costs of the Information

Services Division of the Office of Management and

Enterprise Services, and

h. the information required in subsection B of Section

35.5 of this title.

3. The plan of action report shall be presented to the

Governor, Speaker of the Oklahoma House of Representatives, and the

President Pro Tempore of the Oklahoma State Senate.

4. The Chief Information Officer may contract with a private

consultant or consultants to assist in the assessment and

development of the plan of action report as required in this

subsection.

E. The Chief Information Officer shall be authorized to employ

personnel, fix the duties and compensation of the personnel, not

otherwise prescribed by law, and otherwise direct the work of the

personnel in performing the function and accomplishing the purposes

of the Information Services Division of the Office of Management and

Enterprise Services.

F. The Information Services Division of the Office of

Management and Enterprise Services shall be responsible for the

following duties:

1. Formulate and implement the information technology strategy

for all state agencies;

2. Define, design, and implement a shared services statewide

infrastructure and application environment for information

technology and telecommunications for all state agencies;

3. Direct the development and operation of a scalable

telecommunications infrastructure that supports data and voice

communications reliability, integrity, and security;

4. Supervise the applications development process for those

applications that are utilized across multiple agencies;

5. Provide direction for the professional development of

information technology staff of state agencies and oversee the

professional development of the staff of the Information Services

Division of the Office of Management and Enterprise Services;

6. Evaluate all technology and telecommunication investment

choices for all state agencies;

7. Create a plan to ensure alignment of current systems, tools,

and processes with the strategic information technology plan for all

state agencies;

Oklahoma Statutes - Title 62. Public Finance Page 39

8. Set direction and provide oversight for the support and

continuous upgrading of the current information technology and

telecommunication infrastructure in the state in support of enhanced

reliability, user service levels, and security;

9. Direct the development, implementation, and management of

appropriate standards, policies and procedures to ensure the success

of state information technology and telecommunication initiatives;

10. Recruit, hire and transfer the required technical staff in

the Information Services Division of the Office of Management and

Enterprise Services to support the services provided by the Division

and the execution of the strategic information technology plan;

11. Establish, maintain, and enforce information technology and

telecommunication standards;

12. Delegate, coordinate, and review all work to ensure quality

and efficient operation of the Information Services Division of the

Office of Management and Enterprise Services;

13. Create and implement a communication plan that disseminates

pertinent information to state agencies on standards, policies,

procedures, service levels, project status, and other important

information to customers of the Information Services Division of the

Office of Management and Enterprise Services and provide for agency

feedback and performance evaluation by customers of the Division;

14. Develop and implement training programs for state agencies

using the shared services of the Information Services Division of

the Office of Management and Enterprise Services and recommend

training programs to state agencies on information technology and

telecommunication systems, products and procedures;

15. Provide counseling, performance evaluation, training,

motivation, discipline, and assign duties for employees of the

Information Services Division of the Office of Management and

Enterprise Services;

16. For all state agencies, approve the purchasing of all

information technology and telecommunication services and approve

the purchase of any information technology and telecommunication

product except the following:

a. a purchase less than or equal to Five Thousand Dollars

($5,000.00) if such product is purchased using a state

purchase card and the product is listed on either the

Approved Hardware or Approved Software list located on

the Office of Management and Enterprise Services

website, or

b. a purchase over Five Thousand Dollars ($5,000.00) and

less than or equal to Twenty-five Thousand Dollars

($25,000.00) if such product is purchased using a

state purchase card, the product is listed on an

information technology or telecommunications statewide

contract, and the product is listed on either the

Oklahoma Statutes - Title 62. Public Finance Page 40

Approved Hardware or Approved Software list located on

the Office of Management and Enterprise Services

website;

17. Develop and enforce an overall infrastructure architecture

strategy and associated roadmaps for desktop, network, server,

storage, and statewide management systems for state agencies;

18. Effectively manage the design, implementation and support

of complex, highly available infrastructure to ensure optimal

performance, on-time delivery of features, and new products, and

scalable growth;

19. Define and implement a governance model for requesting

services and monitoring service level metrics for all shared

services; and

20. Create the budget for the Information Services Division of

the Office of Management and Enterprise Services to be submitted to

the Legislature each year.

G. The State Governmental Technology Applications Review Board

shall provide ongoing oversight of the implementation of the plan of

action required in subsection D of this section. Any proposed

amendments to the plan of action shall be approved by the Board

prior to adoption.

H. 1. The Chief Information Officer shall act as the

Information Technology and Telecommunications Purchasing Director

for all state agencies and shall be responsible for the procurement

of all information technology and telecommunication software,

hardware, equipment, peripheral devices, maintenance, consulting

services, high technology systems, and other related information

technology, data processing, telecommunication and related

peripherals and services for all state agencies. The Chief

Information Officer shall establish, implement, and enforce policies

and procedures for the procurement of information technology and

telecommunication software, hardware, equipment, peripheral devices,

maintenance, consulting services, high technology systems, and other

related information technology, data processing, telecommunication

and related peripherals and services by purchase, lease-purchase,

lease with option to purchase, lease and rental for all state

agencies. The procurement policies and procedures established by

the Chief Information Officer shall be consistent with The Oklahoma

Central Purchasing Act.

2. The Chief Information Officer, or any employee or agent of

the Chief Information Officer acting within the scope of delegated

authority, shall have the same power and authority regarding the

procurement of all information technology and telecommunication

products and services as outlined in paragraph 1 of this subsection

for all state agencies as the State Purchasing Director has for all

acquisitions used or consumed by state agencies as established in

The Oklahoma Central Purchasing Act. Such authority shall,

Oklahoma Statutes - Title 62. Public Finance Page 41

consistent with the authority granted to the State Purchasing

Director pursuant to Section 85.10 of Title 74 of the Oklahoma

Statutes, include the power to designate financial or proprietary

information submitted by a bidder confidential and reject all

requests to disclose the information so designated, if the Chief

Information Officer requires the bidder to submit the financial or

proprietary information with a bid, proposal, or quotation.

I. The Information Services Division of the Office of

Management and Enterprise Services and the Chief Information Officer

shall be subject to the Oklahoma Central Purchasing Act for the

approval and purchase of all equipment, products, and services and

shall also be subject to the requirements of the Public Competitive

Bidding Act of 1974, the Oklahoma Lighting Energy Conservation Act

and the Public Building Construction and Planning Act. The Chief

Information Officer shall be authorized to delegate all or some of

the procurement of information technology and telecommunication

products and services and construction of facilities and

telecommunication networks to another state entity if the Chief

Information Officer determines it to be cost-effective and in the

best interest of the state. The Chief Information Officer shall

have authority to designate information technology and

telecommunication contracts as statewide contracts and mandatory

statewide contracts pursuant to Section 85.5 of Title 74 of the

Oklahoma Statutes and to negotiate consolidation contracts,

enterprise agreements and high technology systems contracts. Any

contract entered into by a state agency for which the Chief

Information Officer has not acted as the Information Technology and

Telecommunications Purchasing Director as required in this

subsection or subsection H of this section, shall be deemed to be

unenforceable and the Office of Management and Enterprise Services

shall not process any claim associated with the provisions thereof.

J. The Chief Information Officer shall establish, implement,

and enforce policies and procedure for the development and

procurement of an interoperable radio communications system for

state agencies. The Chief Information Officer shall work with local

governmental entities in developing the interoperable radio

communications system.

K. The Chief Information Officer shall develop and implement a

plan to utilize open source technology and products for the

information technology and telecommunication systems of all state

agencies.

L. All state agencies and authorities of this state and all

officers and employees of those entities shall work and cooperate

with and lend assistance to the Chief Information Officer and the

Information Services Division of the Office of Management and

Enterprise Services and provide any and all information requested by

the Chief Information Officer.

Oklahoma Statutes - Title 62. Public Finance Page 42

M. The Chief Information Officer shall prepare an annual report

detailing the ongoing net saving attributable to the reallocation

and consolidation of information technology and telecommunication

resources and personnel and shall submit the report to the Governor,

the Speaker of the Oklahoma House of Representatives, and the

President Pro Tempore of the Oklahoma State Senate.

N. For purposes of the Oklahoma Information Services Act,

unless otherwise provided for, "state agencies" shall include any

office, officer, bureau, board, commission, counsel, unit, division,

body, authority or institution of the executive branch of state

government, whether elected or appointed; provided, except with

respect to the provisions of subsection D of this section, the term

"state agencies" shall not include institutions within The Oklahoma

State System of Higher Education, the Oklahoma State Regents for

Higher Education and the telecommunications network known as OneNet.

O. As used in this section:

1. "High technology system" means advanced technological

equipment, software, communication lines, and services for the

processing, storing, and retrieval of information by a state agency;

2. "Consolidation contract" means a contract for several state

or public agencies for the purpose of purchasing information

technology and telecommunication goods and services; and

3. "Enterprise agreement" means an agreement for information

technology or telecommunication goods and services with a supplier

who manufactures, develops and designs products and provides

services that are used by one or more state agencies.
Okla. Stat. tit. 62, § 62-479 — OK Code / Title 62 / Section 62-479
Incurring indebtedness or allowing bills in excess -
Status: in_force

Liability of officers.

A. It shall be unlawful for the board of county commissioners,

the county purchasing agent, the city council or the commissioners

of any city, the trustees of any town, township board, or any member

or members of the aforesaid commissioners, or of any of the above-

named boards, to willfully or knowingly make any contract for,

incur, acknowledge, approve, allow or authorize any indebtedness

against their respective city, town or county or authorize it to be

done by others, in excess of the estimate made and approved by the

excise board for such purpose for the current fiscal year, or in

excess of the specific amount authorized for such purpose by a bond

issue.

B. Any such indebtedness, contracted, incurred, acknowledged,

approved, allowed or authorized in excess of the estimate made and

approved for such purposes for the current fiscal year or in excess

of the specific amount authorized for such purpose by a bond issue,

shall not be a charge against the city, town or county whose officer

or officers contracted, incurred, acknowledged, approved, allowed or

authorized or attested the evidence of said indebtedness, but may be

collected by civil action from any official willfully or knowingly

contracting, incurring, acknowledging, approving or authorizing or

attesting to the indebtedness, or from the bondsmen of the official.

Oklahoma Statutes - Title 62. Public Finance Page 438
Okla. Stat. tit. 62, § 62-48.2v1 — OK Code / Title 62 / Section 62-48.2v1
Oklahoma Quick Action Closing Fund
Status: in_force

A. There is hereby created in the State Treasury a revolving

fund for the Oklahoma Department of Commerce to be designated the

Oklahoma Quick Action Closing Fund. The fund shall be a continuing

fund, not subject to fiscal year limitations and shall consist of:

1. All monies apportioned or allocated to the fund pursuant to

law;

2. Any amounts appropriated by the Legislature to the fund;

3. Interest earned on the investment of money in the fund;

Oklahoma Statutes - Title 62. Public Finance Page 186

4. Gifts, grants, and other donations received for the fund;

and

5. Five percent (5%) of all funds paid by the Tax Commission to

establishments that execute contracts for payment of incentives

pursuant to the Oklahoma Quality Jobs Program Act and the 21st

Century Quality Jobs Incentive Act if the contract is executed on or

after August 2, 2018.

B. All monies accruing to the credit of the fund are hereby

appropriated and may be budgeted and expended by the Governor for

the purposes of economic development and related infrastructure

development in instances in which expenditure of such funds would

likely be a determining factor in locating a high-impact business

project or facility in Oklahoma or in retaining such project or

facility within the state. Expenditures from the fund shall be made

upon warrants issued by the State Treasurer against claims filed as

prescribed by law with the Director of the Office of Management and

Enterprise Services for approval and payment.

C. In order to qualify for any funds from the Oklahoma Quick

Action Closing Fund, the establishment making application shall:

1. Be engaged in a business activity described by a North

American Industry Classification System (NAICS) Code used to define

eligibility for incentive payments from the Oklahoma Quality Jobs

Program Act as defined in Section 3603 of Title 68 of the Oklahoma

Statutes or a business activity described by Section 3603 of Title

68 of the Oklahoma Statutes or be engaged in a "basic industry" used

to define eligibility for incentive payments from the 21st Century

Quality Jobs Incentive Act as prescribed by Section 3913 of Title 68

of the Oklahoma Statutes; and

2. Be required to pay new jobs for which an application is

being made an average annualized wage which exceeds the average

county wage as that percentage is determined by the Department of

Commerce based upon the most recent U.S. Department of Commerce data

for the county in which the new jobs are located. For purposes of

this paragraph, health care premiums paid by the applicant for

individuals in new jobs shall not be included in the annualized

wage.

D. The Governor shall not approve payments from the Oklahoma

Quick Action Closing Fund unless the Department of Commerce has

conducted a complete analysis of the potential impact of the

applicant's business activity which shall include, but not be

limited to:

1. The number of jobs to be created by a new business

establishment;

2. The number of jobs to be retained by an existing business

establishment;

3. The average salary of jobs to be created by a new

establishment;

Oklahoma Statutes - Title 62. Public Finance Page 187

4. The average salary of jobs to be retained by an existing

business establishment;

5. The total capital investment to be made by the business

establishment;

6. The likelihood of other business establishments locating

within the same vicinity or within the state as a result of the

business activity to be conducted by the entity to receive payments

from the Oklahoma Quick Action Closing Fund;

7. The impact on the economy of the area or community in which

the business activity of the applicant is or will be conducted; and

8. Such other factors as the Governor and the Department of

Commerce determine to be relevant.

E. The Oklahoma Department of Commerce shall administer the

Oklahoma Quick Action Closing Fund, and expenditures from the fund

shall be recommended by the Director of the Oklahoma Department of

Commerce to the Governor after a thorough evaluation of selected

projects or facilities. The Director of the Oklahoma Department of

Commerce shall only recommend expenditures that the Director

determines are expected to result in a net economic benefit to the

state through the following:

1. The creation of new jobs which offer a basic health benefit

plan, as defined in the Oklahoma Quality Jobs Program Act;

2. The maintenance of existing jobs which are at a risk for

termination;

3. Investment in new real property, plant or equipment or in

the improvement or retooling of existing plant or equipment; or

4. Additional revenues in either ad valorem, income or sales

and use taxes.

F. The Oklahoma Department of Commerce shall develop rules for

the process of reviewing proposed expenditures from the Oklahoma

Quick Action Closing Fund and for the determination of whether or

not proposed expenditures meet the criteria identified in subsection

E of this section. Criteria shall include requirements for economic

impact, local participation in the project, capital investment and

average wage thresholds.

G. Upon receipt of an evaluation that recommends an expenditure

from the Oklahoma Quick Action Closing Fund from the Director of the

Oklahoma Department of Commerce, the Governor shall provide the

evaluation and recommendation to the President Pro Tempore of the

State Senate and the Speaker of the Oklahoma House of

Representatives before giving final approval for the expenditure on

the project. The Executive Office of the Governor shall recommend

final approval of an expenditure on a project pursuant to

consultation with the President Pro Tempore of the State Senate and

the Speaker of the Oklahoma House of Representatives.

H. Upon approval by the Governor, the Oklahoma Department of

Commerce shall enter into an agreement that sets forth the

Oklahoma Statutes - Title 62. Public Finance Page 188

conditions for payment of monies from the Oklahoma Quick Action

Closing Fund. The agreement must include:

1. The total amount of funds awarded;

2. The performance conditions that must be met to obtain the

award, including, but not limited to, net new employment in the

state, average salary, and total capital investment;

3. If appropriate, a baseline of current service and measure of

enhanced capability;

4. The methodology of validating performance;

5. The schedule of payments from the fund, and claw-back

provisions for failure to meet performance conditions; and

6. A requirement that no monies paid from the Oklahoma Quick

Action Closing Fund shall be used by a recipient or any other person

or entity for purposes of any political contribution to or on behalf

of any candidate or for the support of or opposition to any measure

including but not limited to an initiative petition or referendum.

I. The Department of Commerce shall make available on its

website or other website dedicated for this purpose a complete

disclosure of all payments made from the Oklahoma Quick Action

Closing Fund. The disclosure shall include a description of the

expenditures made by the business establishment with the payments

made from the fund. No proprietary information of the business

establishment shall be subject to the requirements of this

subsection.

J. If any or all of the amount to be awarded is used to build a

capital improvement:

1. The funds used for the capital improvement shall be deemed

to be held in trust for the benefit of the state and shall be

considered as a priority claim for purposes of federal bankruptcy

law; and

2. If the capital improvement is sold, the recipient of the

award shall:

a. repay the state the money awarded to pay for the

capital improvement, with interest at the rate and

according to the other terms provided by the

agreement, and

b. share with the state a proportionate amount of any

profit realized from the sale.

K. If, as of the date certain provided in the agreement, the

award recipient has not used monies awarded for the intended

purposes, the recipient shall repay that amount and any related

interest to the state at the agreed rate and on the agreed terms and

any such amounts shall be deemed to be held in trust for the benefit

of the state and shall be considered as a priority claim for

purposes of federal bankruptcy law.

L. The provisions of this act shall cease to have the force and

effect of law on July 1, 2024.

Oklahoma Statutes - Title 62. Public Finance Page 189
Okla. Stat. tit. 62, § 62-868 — OK Code / Title 62 / Section 62-868
Initiative and referendum
Status: reserved

A. The powers of initiative and referendum, reserved by the

Oklahoma Constitution to the people, are reserved to the people of

every city, town or county with reference to the tax relief or

incentives or exemptions or increment captured as authorized by

Section 6C of Article X of the Oklahoma Constitution and as provided

for in this act.

B. 1. For purposes of this section, the form of the petition

for either initiative or referendum shall be substantially as

provided in Sections 1 and 2 of Title 34 of the Oklahoma Statutes.

A true copy of each measure proposed by initiative and referendum

shall be filed with the clerk of the city or town or with the

secretary of the county election board before it is circulated and

signed by the registered voters.

2. Every petition for either the initiative or referendum shall

be signed by a number of the registered voters residing in the city

or town equal to at least twenty-five percent (25%) of the total

number of votes cast at the preceding general municipal election or

for counties, equal to at least ten percent (10%) of the registered

voters residing in the county. The signatures to each petition

shall be verified in the manner provided by law.

3. Signed copies of an initiative petition shall be submitted

to the clerk or secretary within ninety (90) days after the initial

filing of the measure with the clerk or secretary. Signed copies of

a petition invoking a referendum upon any ordinance or resolution

shall be submitted to the clerk or secretary within thirty (30) days

after the passage or adoption of the ordinance or resolution.

C. When signed copies of a petition are timely filed with the

clerk or secretary, the clerk or secretary shall make a physical

count of the number of signatures appearing on the petitions. He

shall then publish, in at least one newspaper of general circulation

in the municipality or the county, a notice of the filing and the

apparent sufficiency or insufficiency of the petition. The notice

shall also state that any qualified elector of the municipality or

the county may file a protest to the petition or an objection to the

count made by the clerk or secretary.

A protest to the petition or the count of signatures shall be

filed in the district court in the county in which the situs of the

city, town or county is located within ten (10) days after the

publication. Written notice of the protest shall be served upon the

clerk or secretary and the parties who filed the petition. In the

case of the filing of an objection to the count, notice shall also

be served upon any party filing a protest. The district court shall

fix a day, not less than ten (10) days after the filing of a

protest, to hear testimony and arguments for and against the

Oklahoma Statutes - Title 62. Public Finance Page 568

sufficiency of the petition. A protest filed by anyone, if

abandoned by the party filing it, may be revived within five (5)

days by any other qualified elector. After the hearing, the

district court shall decide whether such petition is in form

required by law.

D. 1. The parties submitting a petition for either initiative

or referendum shall also prepare and file a ballot title for the

measure. The ballot title may be filed with the clerk or secretary

prior to circulating the petition, but it must be submitted no later

than the time that the signed copies of the petition are filed with

the clerk or secretary. The ballot title shall contain the gist of

the proposition couched in language that may be readily understood

by persons not engaged in the practice of law. The ballot title

shall contain language which clearly states that a "yes" vote is a

vote in favor of the proposition, and a "no" vote is a vote against

the proposition. The ballot title may not:

a. exceed one hundred fifty words,

b. reflect partiality in its composition or contain any

argument for or against the measure, or

c. contain language whereby a "yes" vote is, in fact, a

vote against the proposition and a "no" vote is, in

fact, a vote in favor of the proposition.

2. The clerk or secretary shall immediately forward a copy of

the proposition and ballot title to the municipal attorney or

district attorney. Within three (3) days after the filing of the

ballot title, the attorney shall notify the clerk or secretary in

writing whether or not the proposed ballot title is in legal form

and in harmony with the law. If the ballot title is not in proper

form, in the opinion of the attorney, he shall prepare and file a

ballot title which does conform to the law within the three-day

period.

E. A qualified elector who is dissatisfied with the wording of

a ballot title may appeal, within ten (10) days after the ballot

title is filed with the clerk or secretary, to the district court in

the county in which the situs of the city, town or county is

located. The petition for appeal shall offer a substitute ballot

title for the one from which the appeal is taken. Written notice of

the appeal shall be served upon the clerk or secretary and upon the

parties who filed the ballot title at least five (5) days before

such appeal is heard by the court. The municipal attorney or the

district attorney shall, and any interested citizen may, defend the

ballot title from which the appeal is taken. After the hearing of

the appeal, the district court may correct or amend the ballot

title, or accept the substitute suggested, or may draft a new one

which will conform with the law.

F. When a ballot title has been decided upon, either as

approved by the municipal attorney or district attorney or by the

Oklahoma Statutes - Title 62. Public Finance Page 569

district court, the clerk or secretary shall notify the mayor or the

chairman of the board of county commissioners in writing, and attach

a copy of the petition and ballot title.

G. When an initiative petition demands the enactment of an

ordinance or resolution, the mayor or the chairman of the board of

county commissioners shall present the petition to the governing

body at its next meeting. If the petition is not granted more than

thirty (30) days before the next general municipal or county

election, the mayor or the board of county commissioners shall

submit the ordinance or act so petitioned to the registered voters

of the city, town or county at the next general municipal or county

election.

H. Whenever a referendum is demanded against any measure passed

by the city, town or county governing body, or whenever an

initiative petition is demanded, the question shall be submitted to

the registered voters of the city, town or county for their approval

or rejection at the next general municipal or county election.
Okla. Stat. tit. 62, § 62-57.51 — OK Code / Title 62 / Section 62-57.51
Intent and purpose
Status: in_force

It is the intent and purpose of this act to vitalize Section 36

of Article X of the Constitution of the State of Oklahoma, adopted

at the special election held for such purpose on the 3rd day of

December 1963, and to invoke and exercise the powers conferred upon

the Legislature thereby.
Okla. Stat. tit. 62, § 62-253 — OK Code / Title 62 / Section 62-253
Special Cash Fund
Status: in_force

There is hereby created in the State Treasury a special fund to

be designated the "Special Cash Fund". Said fund shall be subject

to legislative appropriation or transfer as provided by law and

shall consist of such monies as the Legislature may direct to be

transferred to said fund.
Okla. Stat. tit. 62, § 62-57.9 — OK Code / Title 62 / Section 62-57.9
Attorney General's certificate of regularity - Signatures
Status: in_force

and seals - Registration.

Within ten (10) days after the sale or sales of said bonds, the

Attorney General of the State of Oklahoma shall examine all of the

proceedings of the Commission and all resolutions passed and actions

taken by it in connection with the authorization, issuance and sale

of such bonds and shall, if he finds such bond proceedings and sale

to be constitutional and lawful, execute his certificate and file

the same of record in the Office of the Secretary of State of the

State of Oklahoma, which said certificate shall read substantially

as follows: "I have examined all proceedings had in connection with

the issuance of the State of Oklahoma Building Bonds in the

authorized and sold pursuant to Section 31, Article X, Constitution

of Oklahoma, and laws of the State of Oklahoma enacted pursuant

thereto, and find said proceedings and sale to be constitutional,

Oklahoma Statutes - Title 62. Public Finance Page 200

lawful and regular in all particulars and that said bonds will be

valid legal general obligations of the State of Oklahoma. Unless

suit thereon shall be brought in the Supreme Court of the State of

Oklahoma within thirty (30) days from the date of this certificate,

said bonds shall be incontestable for all purposes.

Date Attorney General of the

State of Oklahoma"

Upon the filing of such certificate, bonds issued pursuant to

proceedings so examined by the Attorney General, shall be

incontestable for all purposes upon the expiration of thirty (30)

days from the date of such certificate, unless suit be brought in

the Supreme Court of Oklahoma prior to the expiration of said period

as provided herein.

A facsimile of such Attorney General's certificate shall appear

on each bond so issued. The Supreme Court of Oklahoma is hereby

vested with exclusive jurisdiction over any litigation involving the

validity of any bonds issued under this act. All bonds shall bear

the signature of the Governor and of the Secretary of State and

shall bear the certificate required by Section 29, Article X, of the

Constitution of Oklahoma. Such bonds shall also be registered by

the Treasurer of the State of Oklahoma and a statement of such

registration shall appear on the back of each bond. The Commission

may, by resolution, prescribe that the seal of the State of

Oklahoma, or the seals of any of the officers thereof, and any or

all signatures required to appear on the bonds or coupons, with the

exception of the Governor's signature on the bonds, may be facsimile

seals and signatures.
Okla. Stat. tit. 62, § 62-88.2 — OK Code / Title 62 / Section 62-88.2
Definitions
Status: in_force

As used in the Oklahoma Small Business Linked Deposit Act:

1. "Eligible participant" means:

a. any small business organized for profit, including any

business related to tourism, doing business in and

from the State of Oklahoma, which employs not more

than two hundred (200) employees or has gross annual

receipts of not more than Four Million Dollars

($4,000,000.00),

b. any industrial park that has been certified by the

Oklahoma Department of Commerce as meeting minimum

guidelines necessary for an industrial park, and

c. any public trust authorized in accordance with Section

176 of Title 60 of the Oklahoma Statutes engaged in

industrial development as determined by the Department

of Commerce. Such public trusts are limited to

fifteen percent (15%) of the total available funds and

a nonrenewable term not to exceed six (6) months

unless their purpose is to make package passthrough

loans to other private nontrust recipients for

industrial development purposes in which case the

other conditions contained in this act shall apply.

Oklahoma Statutes - Title 62. Public Finance Page 303

Subsequent loans made by an eligible trust cannot

exceed the interest rate established by this act.

2. "Eligible lending institution" means a financial institution

that:

a. is eligible to make commercial loans,

b. is a public depository of state funds, and

c. agrees to participate in the linked deposit program,

or

d. is an institution of the farm credit system organized

under the federal "Farm Credit Act of 1971", 12 U.S.C.

2001, as amended.

3. "Enterprise zone" means those areas designated as enterprise

zones or districts in accordance with the Oklahoma Enterprise Zone

Act, Sections 690.1 through 690.19 of this title.

4. "Priority Enterprise Zones" means an enterprise zone

selected by the Department of Commerce which has demonstrated

unusual commitment as provided by this act.

5. "Small business linked deposit" means a certificate of

deposit placed by the State Treasurer with an eligible lending

institution.

6. "Board" means the Oklahoma Linked Deposit Review Board.
Okla. Stat. tit. 62, § 62-891.11 — OK Code / Title 62 / Section 62-891.11
Economic development project scoring system - Authority
Status: in_force

for the Economic Development Pool - For-profit business

participation.

A. The Oklahoma Department of Commerce shall establish a

scoring system in order to evaluate economic development projects to

be financed from the proceeds of obligations issued by the Authority

for the Economic Development Pool.

B. The scoring system shall include, but shall not be limited

to, analysis of:

1. Capital investment by a for-profit business entity;

2. New direct jobs, as such term is defined by Section 3603 of

Title 68 of the Oklahoma Statutes, to be created by a for-profit

business entity or entities;

3. Salary and wage payments to persons employed in new direct

jobs; and

4. Likelihood of additional business location decisions

resulting from the activity of the for-profit business entity or

entities that would benefit from use of the Economic Development

Pool.

C. One eligible local government entity, in conjunction with a

for-profit business entity, or a combination of eligible local

government entities, in conjunction with a for-profit business

entity, may apply to the Department for approval of a pooled

financing for an economic development project on such forms as the

Department may prescribe for such purpose.

D. The Department shall compile and maintain a prioritized list

of projects eligible for pooled financing through the Oklahoma

Development Finance Authority from the Economic Development Pool.

E. The Oklahoma Development Finance Authority shall use the

prioritized list provided by the Department in order to provide

financing to the eligible local government entity or entities or to

a for-profit business entity in conjunction with a local government

entity or entities.

F. The Authority shall, within the limit on available bond

proceeds in the Economic Development Pool, provide proceeds in

accordance with the scoring system used by the Department.

Oklahoma Statutes - Title 62. Public Finance Page 590
Okla. Stat. tit. 62, § 62-13 — OK Code / Title 62 / Section 62-13
Duties of Bond Commissioner - Certificate - Bonds
Status: in_force

incontestable after 30 days.

It shall be the duty of the Bond Commissioner to prepare uniform

forms and prescribe a method of procedure under the laws of the

state in all cases where it is desired to issue public securities or

bonds, in any county, township, municipality or political or other

subdivisions thereof of the State of Oklahoma; and it shall be the

further duty of said Bond Commissioner to examine into and pass upon

any security so issued, and such security, when declared by the

certificate of said Bond Commissioner to be issued in accordance

with the forms of procedure so provided shall be incontestable in

any court in the State of Oklahoma unless suit thereon shall be

brought in a court having jurisdiction of the same within thirty

(30) days from the date of the approval thereof by the Bond

Commissioner.
Okla. Stat. tit. 62, § 62-751 — OK Code / Title 62 / Section 62-751
Short title
Status: in_force

Sections 1 through 12 of this act shall be known and may be

cited as the "General Obligation Public Securities Refunding Act".
Okla. Stat. tit. 62, § 62-116 — OK Code / Title 62 / Section 62-116
Rights of holders
Status: in_force

The holders of all registered bonds issued pursuant to this act

upon the surrender of and exchange for coupon bonds of this state

shall be entitled to the benefit of any adjudication or

determination of any court of this state authorizing the issuance of

the coupon bonds surrendered in exchange therefor, or determining

the validity of the indebtedness evidenced thereby, and the payment

of the principal and interest of all registered bonds issued

pursuant hereto shall be made and provided for out of the taxes

Oklahoma Statutes - Title 62. Public Finance Page 332

provided or levied for the purpose of paying the coupon bonds which

are surrendered in exchange for such registered bonds. The holders

of any registered bond issued pursuant hereto shall be subrogated to

and entitled to all the rights and remedies of the holders of the

coupon bonds surrendered in exchange for such registered bonds.
Okla. Stat. tit. 62, § 62-2106 — OK Code / Title 62 / Section 62-2106
Expenditures from Fund construed as expenditures of
Status: in_force

public funds.

The expenditures from the Industrial Facilities Development Fund

and other expenditures governed by this act, if made in accordance

with the requirements of this act, shall be construed as an

expenditure of public funds in furtherance of governmental functions

and for the purpose of conferring general and uniform benefits

resulting from the expenditures upon the residents and other legal

entities located in or near the community qualifying for the receipt

of the funds pursuant to this act.
Okla. Stat. tit. 62, § 62-7003 — OK Code / Title 62 / Section 62-7003
Incentive Evaluation Commission - Incentive Approval
Status: in_force

Committee.

A. There is hereby established the Incentive Evaluation

Commission consisting of:

1. A certified public accountant appointed by the Oklahoma

Accountancy Board whose term shall expire on December 31, 2025;

2. The Chair of Select Oklahoma an Economic Development

Partnership, Inc. or his or her designee who is also a member of

Select Oklahoma an Economic Development Partnership, Inc. who shall

serve during his or her term of office as Chair of Select Oklahoma

an Economic Development Partnership, Inc.;

3. An auditor who is employed as an internal auditor by a

company or who is employed by a private auditing firm appointed by

the Governor whose term shall expire on December 31, 2025;

4. An economist from an Oklahoma college or university

appointed by the President Pro Tempore of the Senate whose term

shall expire on December 31, 2024;

5. A lay person who is not an elected official appointed by the

Speaker of the House of Representatives whose term shall expire

December 31, 2024;

6. The Chair of the Oklahoma Tax Commission or his or her

designee who is also a member of the Oklahoma Tax Commission, which

shall be an ex officio and nonvoting position;

7. The Director of the Office of Management and Enterprise

Services or his or her designee who is an employee of the Office of

Oklahoma Statutes - Title 62. Public Finance Page 674

Management and Enterprise Services which shall be an ex officio and

nonvoting position; and

8. The Secretary of Commerce or his or her designee who is an

employee of the Oklahoma Department of Commerce which shall be an ex

officio and nonvoting position.

B. Thereafter persons shall be appointed for terms of four (4)

years beginning on January 1. Any vacancy shall be filled by the

appointing authority for the remainder of the unexpired term.

C. No person shall serve on the Commission or be appointed to

the Commission who is employed by a company that receives any

incentive or who holds a substantial interest in ownership in a

company that receives any incentive. As used in this subsection,

“substantial interest” shall mean the ownership, directly or

indirectly, of more than fifty percent (50%) of the equity interest

with voting rights for any lawfully recognized business entity.

D. No person shall be appointed to the Commission who at the

time of his or her appointment is an elected official. Any person

who is appointed to the Commission who subsequently becomes an

elected official during his or her term on the Commission shall be

required to vacate his or her position on the Commission.

E. The Office of Management and Enterprise Services shall

provide staff and administrative support to the Incentive Evaluation

Commission. The Oklahoma Department of Commerce and the Oklahoma

Tax Commission shall assist the Office of Management and Enterprise

Services as needed in providing staff and administrative support to

the Commission.

F. The Incentive Approval Committee is hereby created as a

subcommittee of the Incentive Evaluation Commission and shall

consist of the Director of the Office of Management and Enterprise

Services or his or her designee, the Secretary of Commerce or his or

her designee, and the Chairman of the Tax Commission or his or her

designee. It shall be the duty of the Committee to determine:

1. Upon initial application on a form approved by the

Committee, if an establishment is engaged in a basic industry as

defined in subdivision (b) of division (7) or in subdivisions (a)

through (n) of division (9) of subparagraph a of paragraph 1 of

subsection A of Section 3603 of Title 68 of the Oklahoma Statutes or

as otherwise provided by subsection C of Section 3603 of Title 68 of

the Oklahoma Statutes;

2. If an establishment would have been defined as a “basic

industry” prior to the amendments to Section 3603 of Title 68 of the

Oklahoma Statutes to convert from SIC Codes to NAICS Codes. If the

Committee so determines, the establishment shall be considered as a

“basic industry” for purposes of the Oklahoma Quality Jobs Program

Act; and

3. If employees of an establishment as defined in division (10)

of subparagraph a of paragraph 1 of subsection A of Section 3603 of

Oklahoma Statutes - Title 62. Public Finance Page 675

Title 68 of the Oklahoma Statutes meet the requirements to be

considered employed in new direct jobs as specified in paragraph 3

of subsection A of Section 3603 of Title 68 of the Oklahoma

Statutes.

G. For an establishment defined as a “basic industry” pursuant

to division (4) of subparagraph a of paragraph 1 of subsection A of

Section 3603 of Title 68 of the Oklahoma Statutes, the Incentive

Approval Committee shall consist of the members provided by

subsection A of this section and the Executive Director of the

Oklahoma Center for the Advancement of Science and Technology, or a

designee from the Center appointed by the Executive Director.
Okla. Stat. tit. 62, § 62-306d — OK Code / Title 62 / Section 62-306d
Cancellation of special assessment and lien of assessment
Status: in_force

or warrant.

In any case where the owner of any property which is or shall

be charged with a lien for the payment of any such matured and

unpaid special assessment, district sanitary sewer, storm sewer, or

sidewalk warrant, is the owner and holder of any such warrant, he

may upon surrendering the same to the county treasurer of the county

wherein any such special assessment shall appear, have such special

assessment and the lien thereof canceled, and such treasurer shall

make a notation upon the tax rolls showing that such special

assessment has been discharged and released and shall cancel such

warrant and file the same in his office.
Okla. Stat. tit. 62, § 62-496 — OK Code / Title 62 / Section 62-496
Special tax for payment of interest and principal
Status: in_force

Counties, cities and towns which shall or have issued bonds

under authority of Article 10, Section 35 of the Constitution shall

levy a special tax payable annually in a total amount not to exceed

five (5) mills on the dollar in addition to the legal rate permitted

on the real and personal taxable property therein to provide for the

payment of the principal and interest as they mature of all bonds

heretofore or hereafter issued under authority of Section 35,

Article 10 of the Constitution; provided, however, the county or

municipality may, initially and from time to time thereafter,

suspend the collection of such annual levy when not required for the

payment of the principal of and interest on its bonds; and provided

further that in event total net taxable valuation of the issuing

county or municipality has declined from that in existence at time

bonds were issued, and if necessary to assure payment of principal

and interest on the bonds, a special tax up to five (5) mills shall

be levied on the real and personal taxable property therein based on

the issuer's total net taxable valuation in existence at time bonds

were issued.
Okla. Stat. tit. 62, § 62-305.1 — OK Code / Title 62 / Section 62-305.1
Municipal or public utility billing - Payment without
Status: in_force

verification - Late charges - Discounts.

The governing board of a municipality shall be authorized to

allow and pay the regular periodic billings of any municipal utility

or of any public utility whose rates are fixed by, and are subject

to the approval of, the Oklahoma Corporation Commission or any other

public regulatory body or board of any utility cooperative for

services furnished by the utility to the municipality without the

issuance of a purchase order and filing of an invoice by such

municipal or public utility, provided, further, that no municipal or

public utility shall attach a late charge or deny a discount on any

bill until a thirty-day period has lapsed from the receipt of the

bill.
Okla. Stat. tit. 62, § 62-652 — OK Code / Title 62 / Section 62-652
Authority regarding industrial development
Status: in_force

Oklahoma Statutes - Title 62. Public Finance Page 466

Any municipality and any county is hereby authorized to own,

acquire, construct, reconstruct, extend, equip, improve, maintain,

sell, lease, contract concerning, or otherwise deal in or dispose of

any lands, buildings, or facilities of any and every nature whatever

that can be used in securing or developing industry within or near

the municipality or county. Industry as referred to herein shall

not include any trust purpose, function nor activity in any

residential enterprise or function except as provided in Section

178.6 of Title 60 of the Oklahoma Statutes.
Okla. Stat. tit. 62, § 62-587 — OK Code / Title 62 / Section 62-587
Facsimile seals
Status: in_force

When a seal is required or permitted in the execution of any

certificated registered public obligation, an authorized officer may

cause the seal to be printed, engraved, stamped or otherwise placed

in facsimile thereon. The facsimile seal has the same legal effect

as the impression of the seal.
Okla. Stat. tit. 62, § 62-74 — OK Code / Title 62 / Section 62-74
State Treasurer as official depository for state officers, boards and commissions - Bonds of
Status: in_force

Oklahoma Statutes - Title 62. Public Finance Page 10boards 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 any state officer,

state board, state commission or by any employee of either of such

officers, boards, or commissions by virtue or under color of office.

Before receiving any such money or funds, as such official

Oklahoma Statutes - Title 62. Public Finance Page 300

depository, the State Treasurer shall execute a bond to the state,

with good and sufficient sureties, to be approved by the Governor in

the penal sum of Fifty Thousand ($50,000.00) Dollars, conditioned

for the faithful performance of duty; provided, that before any

funds under the charge and management of the Commissioners of the

Land Office by virtue of section 32, of article 6 of the

Constitution or other provision of law, shall be received or paid

over to the State Treasurer as such official depository, he shall

execute a bond in a surety company in the penal sum of Two Hundred

Thousand Dollars ($200,000.00), payable to the state and to be

approved by the Governor, conditioned for the faithful performance

of his duties and especially to account for all funds coming into

his possession as such depository from the Commissioners of the Land

Office, or anyone acting for them.
Okla. Stat. tit. 62, § 62-89.4 — OK Code / Title 62 / Section 62-89.4
Public inspection of records
Status: in_force

Records in the State Treasurer's office shall be subject to

public inspection in accordance with Section 24, Title 51, Oklahoma

Statutes 1971.