Okla. Stat. tit. 62, § 62-34.82 — OK Code / Title 62 / Section 62-34.82
Posting of disbursement information – Receipts for
Status: in_force

deposits – Permanent record – Audits, apportionment, and

distribution – Maintenance of redeemed warrants and checks.

A. Disbursement information for all bonds and interest coupons

redeemed by the State Treasurer shall be delivered to the Director

of the Office of Management and Enterprise Services for posting.

Deposit information for each and every receipt issued for monies

received into the State Treasury shall be receipted for by the

Office of Management and Enterprise Services.

B. Such information shall be maintained as a permanent record

in the Office of Management and Enterprise Services.

C. The Office of Management and Enterprise Services shall audit

such redeemed information and apportion and distribute the

collections as indicated by the State Treasury receipts.

D. All warrants and checks redeemed by the State Treasurer

shall be maintained by the State Treasurer in accordance with state

law.Oklahoma Statutes - Title 62. Public Finance Page 3
Okla. Stat. tit. 62, § 62-72.4 — OK Code / Title 62 / Section 62-72.4
Deposit of collateral securities or instruments
Status: in_force

A. The State Treasurer shall require that financial

institutions deposit collateral securities or instruments to secure

the deposits of the state in each such institution. The amount of

collateral securities or instruments to be pledged for the security

of public deposits shall be established by rules and regulations

promulgated by the State Treasurer consistent with the provisions of

the Security for Public Deposits Act; provided, such amount shall

not be less than the amount of the deposit to be secured, less the

amount insured.

Oklahoma Statutes - Title 62. Public Finance Page 297

B. Upon authorization by the State Treasurer, a financial

institution shall place required collateral securities in a

restricted account at a Federal Reserve Bank which serves Oklahoma,

a Federal Home Loan Bank which serves Oklahoma or with another

financial institution located in this state that is not owned or

controlled by the same institution or holding company. The

depositor shall deliver to the State Treasurer a power of attorney

authorizing the State Treasurer to transfer or liquidate the

securities in the event of a default, financial failure or

insolvency of a public depository.

C. Securities eligible for collateral shall be valued at market

value. The State Treasurer shall review and determine the market

value of collateral pledged for security not less than quarterly.

The State Treasurer shall adopt rules and regulations to provide for

the valuation of collateral if the market value is not readily

determinable. The State Treasurer shall prescribe forms for

financial institutions to list collateral securities pursuant to

this section.

D. The State Treasurer shall promulgate rules for the

acceptance of collateral instruments described in Section 72.5 of

this title, to secure deposits of the state. Such rules shall

require that sufficient documentation exists to establish that the

provider of the collateral instrument will protect the state in the

event of a default, financial failure or insolvency of a public

depository.

E. All securities purchased by the State Treasurer or held in

custody for other state agencies by the State Treasurer shall be

held in financial institutions as defined in Section 71 of this

title not involved in such transactions and shall not be held by the

State Treasurer or a broker.
Okla. Stat. tit. 62, § 62-57.130 — OK Code / Title 62 / Section 62-57.130
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, § 62-473 — OK Code / Title 62 / Section 62-473
"Estimate made and approved" defined
Status: in_force

The term "estimate made and approved" as used herein, is defined

to mean the itemized statement of the estimated needs of a

municipality for its current expenses for the ensuing fiscal year,

as approved and fixed by the excise board or by vote of the

municipality, adding thereto the amount necessary to create a

sinking fund to meet maturing bonds, judgments and interest coupons,

but the amount or limit to which warrants and certificates of

indebtedness may be issued, shall not include the ten percent (10%)

to be added to the estimate for delinquent taxes.
Okla. Stat. tit. 62, § 62-435 — OK Code / Title 62 / Section 62-435
Use of fund - Judgments against municipality - Payment
Status: in_force

from sinking funds - Reimbursement.

(Application.) Such sinking funds shall be used:

First. For the payment of interest coupons as they fall due.

Second. For the payment of bonds falling due, if any such there

be, and,

Third. For the payment of judgments against the municipality,

if any there be; provided, that when any sinking fund has been used

or may hereafter be used to pay judgments as herein provided, that

notwithstanding the fact that such judgment or judgments have been

paid with such sinking fund, it shall be the duty of the proper

officers to make levies to pay such judgments the same as if the

same had not been paid out of such sinking fund, and when so levied

and collected the same shall be turned into the sinking fund out of

which such judgment or judgments was paid.
Okla. Stat. tit. 62, § 62-277.1 — OK Code / Title 62 / Section 62-277.1
Fund created - Expenditures
Status: in_force

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

known as the "Federal Revenue Sharing Fund" in which shall be

Oklahoma Statutes - Title 62. Public Finance Page 366

deposited all federal revenue sharing receipts, including interest

earned thereon as hereinafter provided. No money on deposit with

the State Treasurer to the credit of the Federal Revenue Sharing

Fund shall be expended except pursuant to legislative appropriation.
Okla. Stat. tit. 62, § 62-35.3 — OK Code / Title 62 / Section 62-35.3
Definitions
Status: in_force

As used in the Information Technology Consolidation and

Coordination Act:

1. “Appropriated state agency” means any state agency that

receives funding through the annual legislative appropriations

process;

2. “Information technology assets” means any equipment or

interconnected system or subsystem of equipment that is used in the

acquisition, storage, manipulation, management, movement, control,

display, switching, interchange, transmission, or reception of data

or information. The term shall include computers, ancillary

equipment, software, firmware and similar procedures, services,

including support services and consulting services, software

development, and related resources, and shall further include

telecommunications fiber networks used for conveying electronic

communication or information systems to multiple physical locations;

3. “Information technology position” means a classified or

unclassified position in the following functional areas:

a. applications programming,

b. EDP audit,

c. data examination,

d. computer applications,

e. computer data entry,

f. computer networking,

g. computer operations,

h. computer programming,

i. computer security,

j. computer software design,

k. web applications,

l. database analysis,

m. data management analysis,

n. database development,

o. database programming,

p. software design/development,

q. help desk,

r. imaging,

s. systems analysis,

t. systems application planning,

u. systems application,

Oklahoma Statutes - Title 62. Public Finance Page 147

v. systems administration,

w. systems coordination,

x. systems integration,

y. systems operation,

z. systems planning/development,

aa. systems programming,

bb. systems engineering,

cc. systems service specialist,

dd. systems support,

ee. network administration,

ff. network management,

gg. network technical,

hh. operating systems specialist,

ii. systems program manager,

jj. telecommunications, whether data or voice,

kk. software training, and

ll. technology development or support;

4. “Nonappropriated state agency” means any state agency that

does not receive funding through the annual legislative

appropriations process;

5. “Shared services” means those state agency functions which

are or could be provided through:

a. the services and systems specified in subsection A of

Section 35.6 of this title, and

b. the programs, services, software, or processes

specified in subsection B of Section 35.6 of this

title; and

6. “State agency” means any office, elected or appointed

officer, bureau, board, commission, counsel, unit, division, body,

authority, or institution of the executive branch of state

government excluding institutions within The Oklahoma State System

of Higher Education, the Oklahoma Municipal Power Authority, the

Oklahoma State Regents for Higher Education, the Oklahoma State

Bureau of Investigation, the District Attorneys Council, the Office

of the Attorney General, the Office of the State Auditor and

Inspector, and the telecommunications network known as OneNet.
Okla. Stat. tit. 62, § 62-10.3 — OK Code / Title 62 / Section 62-10.3
Renumbered as § 34.55 of this title by Laws 2009, c. 441,
Status: in_force

§ 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-2203.1 — OK Code / Title 62 / Section 62-2203.1
Short title - Oklahoma Disaster Relief Materials Price
Status: in_force

Stabilization Act.

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

Disaster Relief Materials Price Stabilization Act".
Okla. Stat. tit. 62, § 62-34.26 — OK Code / Title 62 / Section 62-34.26
Open-systems concept
Status: in_force

A. Any state agency, board, commission, or authority which

establishes an electronic portal system shall use an open-systems

concept for the portal system which has been approved by the

Information Services Division of the Office of Management and

Enterprise Services.

B. No state agency, board, commission, or authority shall enter

into an agreement for development of, enhancement to, or maintenance

of an electronic portal system without the written authorization of

the Information Services Division.

C. For purposes of this section, an "open-systems concept"

shall mean a system that implements sufficient open specifications

for interfaces, services, and supporting formats to enable properly

engineered components to be utilized across a wide range of systems

with minimal changes, to interoperate with other components on local

and remote systems, and to interact with users in a style that

facilitates portability. An open-systems concept is characterized

by the following:

1. Well-defined, widely used, and nonproprietary interfaces or

protocols;

2. Use of standards which are developed and adopted by industry

recognized standards-making bodies;

3. A definition of all aspects of system interfaces to

facilitate new or additional system capabilities for a wide range of

applications; and

4. An explicit provision for expansion or upgrading through the

incorporation of additional or higher performance elements with

minimal impact on the system.
Okla. Stat. tit. 62, § 62-34.19 — OK Code / Title 62 / Section 62-34.19
Information Services Division of Office of Management
Status: in_force

and Enterprise Services - Creation and maintenance of state central

communication or intercommunication system.

A. The Information Services Division of the Office of

Management and Enterprise Services is directed, authorized and

empowered to enter into contracts for, to establish criteria for and

manage the installation, maintenance and administration of a central

communication or intercommunication system for and upon behalf of

this state. The installation shall fulfill communication or

intercommunications requirements of this state and its agencies

located in the Capitol and those buildings situated on the Capitol

grounds, known as the "Capitol Complex" in Oklahoma City, Oklahoma,

Oklahoma Statutes - Title 62. Public Finance Page 54

the state-owned building known as the "Tulsa Capitol Building" in

Tulsa, Oklahoma, buildings which house state agencies located within

four (4) miles of the Capitol Complex, and any location used for the

administration of the information technology and telecommunication

infrastructure and security for the state.

B. The Information Services Division shall render a statement

of charges at the end of each month to all state agencies to which

it has furnished communications services for the direct cost

sustained, which shall timely be paid. If the charges are not

timely paid by a state agency, the Information Services Division may

request the Division of Central Accounting and Reporting of the

Office of Management and Enterprise Services to create vouchers and

process payments to the Information Services Division against the

funds of the delinquent agency. The following provisions shall

apply to the charges:

1. A pro rata formula is to be established in writing after

giving consideration to the type of service furnished, the number

and kinds of instruments used, the cost of operation and special

installations required in each such agency in relation to the total

cost of local service. The formula, once determined, is not to be

redetermined more often than once every six (6) months nor to be

changed after any such redetermination before the expiration of six

(6) months; and

2. The Information Services Division is to be reimbursed by the

state or any of its agencies for actual cost incurred for equipment

installation or modification or for toll charges for use of

telephone, telegraph, teletype, data communications, Internet,

eGovernment, as referenced in Sections 34.24 and 34.25 of this

title, or other form or forms of communication or intercommunication

incurred by the state or by any agency.

C. No telephone, teletype, switchboard, line, cable system,

data communication system, Internet, eGovernment, or systems of

communication or intercommunication are to be installed in any

building or buildings owned, rented, leased or otherwise held by

this state or its agencies at locations described in subsection A of

this section without written order of the Chief Information Officer

or a designee. Provided, however, that acquisition and installation

of such equipment in the Legislature shall be subject to the final

approval of the Speaker of the House of Representatives or the

President Pro Tempore of the Senate as appropriate.
Okla. Stat. tit. 62, § 62-57.76 — OK Code / Title 62 / Section 62-57.76
Building Bonds of 1955 - Cancellation of interest
Status: in_force

That all interest provided by 62 O.S.1961, Section 57.17, on

"State of Oklahoma Building Bonds of 1955" issue, be and the same is

hereby canceled June 30, 1967, and no sums of money shall thereafter

be transmitted by the Oklahoma Tax Commission out of the cigarette

tax collections for interest on said bonds.
Okla. Stat. tit. 62, § 62-662 — OK Code / Title 62 / Section 62-662
Bids for purchase of materials and supplies costing over
Status: in_force

$500 - Meetings of trustees - Records.

In all cases where the trustees shall contract for the payment

of Two Thousand Dollars ($2,000.00) or more for the purchase of any

materials, equipment, or supplies or for the construction of

facilities, said contract shall be made only, after public

advertisement for bids, to the lowest and best bidder upon the

proposal so advertised.

All meetings of the trustees shall be open to the public to the

same extent as is required by law of meetings by other boards and

commissions, and all records of the trustees shall be public records

as provided by law and shall be kept either in the office of the

city clerk or the county clerk, as the case may be.
Okla. Stat. tit. 62, § 62-46A — OK Code / Title 62 / Section 62-46A
Measurable goal requirement
Status: in_force

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-

beneficiary public trust; or any program for incentive

payments from the state.
Okla. Stat. tit. 62, § 62-41.6 — OK Code / Title 62 / Section 62-41.6
Renumbered as § 34.41 of this title by Laws 2009, c. 441,
Status: in_force

§ 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-48 — OK Code / Title 62 / Section 62-48
Oklahoma Opportunity 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 Opportunity 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; and

4. Gifts, grants, and other donations received for the fund.

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, subject to the unanimous approval of the Contingency

Review Board pursuant to subsection E of this section. Expenditures

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

Treasurer against claims filed as prescribed by law with the

Oklahoma Statutes - Title 62. Public Finance Page 184

Director of the Office of Management and Enterprise Services for

approval and payment.

C. Expenditures from the Oklahoma Opportunity Fund shall be

proposed by the Director of the Oklahoma Department of Commerce.

The Director of the Oklahoma Department of Commerce shall only

propose expenditures that the Director determines are expected to

result in a substantial economic benefit to the state through any of

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 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.

D. The Oklahoma Department of Commerce shall develop rules for

the process of reviewing proposed expenditures from the Oklahoma

Opportunity Fund and for determination of whether or not proposed

expenditures meet the criteria identified in subsection C of this

section. Criteria shall include requirements for economic impact,

local participation in the project and average wage thresholds.

E. No expenditure shall be made from the Oklahoma Opportunity

Fund unless such expenditure has been unanimously approved by the

Contingency Review Board.

F. The Oklahoma Department of Commerce shall administer the

Oklahoma Opportunity Fund. The Governor may, on behalf of this

state and with the express approval of the Contingency Review Board,

award monies by entering into a written agreement.

G. Before awarding any monies pursuant to subsection F of this

section, the Governor shall enter into a written agreement with the

entity to be awarded the money specifying that:

1. If any or all of the amount to be awarded is used to build a

capital improvement:

a. the state retains a lien or other interest in the

capital improvement in proportion to the amount

awarded by the written agreement for the capital

improvement, and

b. if the capital improvement is sold, the recipient of

the award shall:

(1) repay to 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

(2) share with the state a proportionate amount of

any profit realized from the sale; and

Oklahoma Statutes - Title 62. Public Finance Page 185

2. If, as of the date certain provided in the agreement, the

award recipient has not used monies awarded under this section 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.

H. The Legislature finds that for profit entities, nonprofit

entities and state and local governmental entities that qualify for

funding pursuant to the provisions of this section are a source of

economic benefits for the state, its political subdivisions and its

residents that can only be achieved through the use of specialized

economic incentives. All expenditures from the Oklahoma Opportunity

Fund shall be deemed to be in furtherance of essential governmental

functions for public purposes as a method of promoting and

sustaining economic growth and activity within the State of

Oklahoma.
Okla. Stat. tit. 62, § 62-72.6 — OK Code / Title 62 / Section 62-72.6
Default or insolvency of public depository
Status: in_force

Oklahoma Statutes - Title 62. Public Finance Page 299

In the event of a default or insolvency of a public depository,

the State Treasurer shall implement the following procedures:

1. In cooperation with the State Department of Banking and

other regulatory officials, the State Treasurer shall ascertain the

amount of public funds on deposit at the defaulting institution and

the amount of deposit insurance applicable to such deposit.

2. The potential loss to the state shall be calculated by the

State Treasurer. The loss to the state shall be satisfied, insofar

as possible, first through any applicable deposit insurance and then

through the sale of securities pledged, or through the proceeds of

collateral instruments pledged, by the defaulting depository

institution. Such sales shall be conducted by the State Treasurer.

3. The securities, bonds or other forms of collateral shall

become forfeited to and become the property of the state. If the

securities, bonds or other forms of collateral are valued at less

than the amount of principal and interest due to the state plus the

cost of the ensuing sale, the securities, bonds and other forms of

collateral shall be sold by the State Treasurer, and the State

Treasurer shall be entitled to recover from the financial

institution such balances with costs and attorney's fees. If the

market value of the securities, bonds or other forms of collateral

exceeds the principal and interest due to the state plus the cost of

the ensuing sale, the securities, bonds and other forms of

collateral may be sold by the State Treasurer and the excess of the

proceeds shall be returned to the pledging financial institution or

its receiver, without further process of law.
Okla. Stat. tit. 62, § 62-575 — OK Code / Title 62 / Section 62-575
Violations
Status: in_force

Any member of the governing body of a governmental entity or

other elected or appointed official charged with the duty of

expending the proceeds of any bond issue, who knowingly and

willfully violates any provision of this act, shall forfeit his

office.
Okla. Stat. tit. 62, § 62-57.68 — OK Code / Title 62 / Section 62-57.68
Certificate of Attorney General - Signatures and seals
Status: in_force

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 A, in the aggregate principal amount

of Fifteen Million Four Hundred Twenty-five Thousand Dollars

Oklahoma Statutes - Title 62. Public Finance Page 232

($15,425,000.00) 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". The procedure above enacted shall be followed

after the sale of the Series B Bonds, and the above certificate

shall be executed by the Attorney General in the same form and

manner, except as to the amount which shall specify Series B in the

sum of Twelve Million Dollars ($12,000,000.00). 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 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, § 62-850 — OK Code / Title 62 / Section 62-850
Short title
Status: in_force

Sections 1 through 20 of this act shall be known and may be

cited as the "Local Development Act".
Okla. Stat. tit. 62, § 62-34.103A — OK Code / Title 62 / Section 62-34.103A
Revenue analysis testing
Status: in_force

In addition to the other duties imposed upon it by law and by

the provisions of this act, the State Board of Equalization shall

create an agenda item for its December 2025 meeting and its February

2026 meeting to perform an analysis regarding the provisions of this

act as if the State Board were to be performing the revenue analysis

in order to comply with the provisions of this act at its December

2026 meeting and its February 2027 meeting in order to provide an

opportunity for the State Board of Equalization, the Office of

Management and Enterprise Services, the Oklahoma Tax Commission or

other entities to establish procedures necessary for the State Board

of Equalization to perform the duties imposed upon it pursuant to

the provisions of subsection D of Section 34.103 of Title 62 of the

Oklahoma Statutes and any other applicable provision of this act.

All state government entities shall cooperate with the State Board

of Equalization to provide necessary information to comply with the

provisions of this section.
Okla. Stat. tit. 62, § 62-41.29 — OK Code / Title 62 / Section 62-41.29
Renumbered as § 34.36 of this title by Laws 2009, c
Status: in_force

441, § 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-81 — OK Code / Title 62 / Section 62-81
Penalty for violation
Status: in_force

Any official or employee thereof or any member or employee of

any state board or state commission who shall fail, neglect or

refuse to comply with the requirements of Section two (2) hereof, or

any other provision of this act, shall forfeit and pay to the use of

the State of Oklahoma the sum of Twenty-five Dollars ($25.00) per

Oklahoma Statutes - Title 62. Public Finance Page 301

day for each and every day that he shall so fail, neglect or refuse

to comply with requirements of said act, and shall forfeit and be

removed from office; and any such official who shall issue, sign,

attest or utter any false or illegal voucher against any monies

deposited, as in this act provided, shall be liable to the state on

his official bond for a sum double in amount of any such illegal or

fraudulent voucher, and shall be deemed guilty of a Class D1 felony

offense, and upon conviction thereof shall be punished by a fine in

a sum of not less than One Hundred Dollars ($100.00) nor more than

One Thousand Dollars ($1,000.00) and by imprisonment as provided for

in subsections B through F of Section 20N of Title 21 of the

Oklahoma Statutes.
Okla. Stat. tit. 62, § 62-41.46 — OK Code / Title 62 / Section 62-41.46
Renumbered as § 34.52 of this title by Laws 2009, c
Status: in_force

441, § 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-823 — OK Code / Title 62 / Section 62-823
Definitions
Status: in_force

As used in the Regional Economic Development District Act:

1. “Bonds” means any bonds, notes, certificates of

participation or other evidences of indebtedness issued pursuant to

Section 35 of Article X of the Oklahoma Constitution;

2. “Department” means the Oklahoma Department of Commerce

established pursuant to Section 5001 et seq. of Title 74 of the

Oklahoma Statutes and any successor agency;

3. “Governing body” means the city council, city commission,

board of trustees of a municipality or the board of commissioners of

a county;

4. “Participating Entity” means any municipality or county

comprising an established Regional District;

5. “Project” means the acquisition or construction of real or

personal property, or both, by or for the use of public or private

entities as may be authorized for economic development purposes by

the Legislature pursuant to the provisions of Section 35 of Article

X of the Oklahoma Constitution; and

6. “Regional District” means a regional economic development

district, as designated by the Governor pursuant to Section 7 of

this act.
Okla. Stat. tit. 62, § 62-342 — OK Code / Title 62 / Section 62-342
Tender - Acceptance at face value - Receipt - Cancellation
Status: in_force

of bond or warrant.

When the owner of such warrants or bonds tenders the same to the

clerk of said city, town or the county treasurer in the case of a

drainage district, in payment of the paving, drainage or street

improvement assessment liens or any installment thereof upon his

property in the paving, drainage or street improvement district, in

which such warrants or bonds were issued, the same shall be accepted

at their face value by such city or town clerk, or the county

treasurer, in payment of such improvement assessment liens or any

installment thereof upon said owner's property in such improvement

or drainage district, whether due or to become due, and shall

operate to discharge all paving, drainage or street improvement

assessments upon such property, to the extent of the face value of

such warrants or bonds, so tendered, and the clerk of said city or

town, or the county treasurer of such county, shall issue a receipt

to the owner of such property and the owner of such warrants or

bonds to the extent of all such improvement taxes and liens on said

property, whether due or to become due, to the amount of the face of

such warrants or bonds tendered in payment, including the interest

due thereon, and thereupon said clerk of such city or town or the

county treasurer of such county shall cancel said warrants or bonds,

so delivered in discharge of such assessments or liens, or endorse

said payment on said warrant or bond in case the amount due on said

assessment at said time is less than the face value of said warrants

or bonds so tendered.
Okla. Stat. tit. 62, § 62-517.5 — OK Code / Title 62 / Section 62-517.5
Securities and other instruments that may be accepted as
Status: in_force

collateral.

A. For purposes of securing public deposits, the treasurer of a

public entity may accept as collateral only those securities and

other instruments listed below. To insure the safety of public

funds, the treasurer may establish standards which restrict, or

limit further, any of the types or classes of securities or

instruments listed below which may be accepted. Any treasurer of a

public entity may request the State Treasurer to determine the

eligibility of an individual security for pledging under this

section. The treasurer may select the following securities and

instruments for the purpose of securing public deposits:

1. Obligations, including letters of credit of the United

States Government, its agencies and instrumentalities;

2. Obligations of this state or of a county, municipality, or

school district of this state or of an instrumentality of this state

or a county, municipality or school district of this state;

3. General obligation bonds of any other state of the United

States; and

4. A surety bond if:

a. subject to the terms and conditions of the bond, it is

irrevocable and absolute,

Oklahoma Statutes - Title 62. Public Finance Page 447

b. the surety bond is issued by an insurance company

authorized to do business in Oklahoma, and which has

been approved by the State Treasurer,

c. the issuer of the surety bond does not provide surety

bonds for any one financial institution in an amount

that exceeds ten percent (10%) of the surety bond

insurer's policyholders' surplus and contingency

reserve, net of reinsurance, and

d. the claims-paying ability of the authorized insurance

company is rated, at all relevant times, in the

highest category by at least two nationally recognized

rating agencies acceptable to the State Treasurer.

B. A financial institution may substitute different forms of

collateral from time to time, provided that the collateral is

acceptable to the treasurer, and meets the requirements of this

section and the rules of the State Treasurer.
Okla. Stat. tit. 62, § 62-57.78 — OK Code / Title 62 / Section 62-57.78
Reserve fund of 1965 - Cancellation
Status: in_force

That the reserve fund created and established in the office of

the State Treasurer of Oklahoma by House Bill No. 1010, O.S.L.1965,

page 521, enacted by the Thirtieth Session of the Oklahoma

Legislature for payment of principal and interest on "State of

Oklahoma Building Bonds 1965", be and the same is hereby canceled

effective June 30, 1967, and no sums of money shall thereafter be

transmitted by the Oklahoma Tax Commission out of the cigarette tax

collections for such purpose, and provided this shall not affect the

payment of the principal sums provided in said House Bill.
Okla. Stat. tit. 62, § 62-41.3 — OK Code / Title 62 / Section 62-41.3
Renumbered as § 34.3 of this title by Laws 2009, c. 441,
Status: in_force

§ 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-9.1 — OK Code / Title 62 / Section 62-9.1
Renumbered as § 34.46 of this title by Laws 2009, c. 441,
Status: in_force

§ 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-57.165 — OK Code / Title 62 / Section 62-57.165
Deposit of proceeds - Investment
Status: in_force

Notwithstanding the provisions of Section 57.133, Title 62,

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

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

Building Bonds of 1968 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 House Bill No. 1797 of the Second

Session of the Thirty-third 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 shall be deposited

by the State Treasurer in the State of Oklahoma Building Bonds of

1968 Sinking Fund.
Okla. Stat. tit. 62, § 62-2023 — OK Code / Title 62 / Section 62-2023
Plan for funds to provide matching amounts
Status: in_force

A. The governing board of an entity described by subsection A

or B of Section 4 of this act shall develop a plan for the use of

available funds for providing matching amounts as required pursuant

to the terms of applicable federal law to obtain federal funds for

the prevention of damage or to repair damages caused by a qualifying

hazard within areas included within its respective jurisdiction.

For purposes of this act, "qualifying hazard" shall include, but

shall not be limited to, potential damage or actual damages caused

by any one or more of the following conditions or causes:

1. High winds;

2. Tornadoes;

Oklahoma Statutes - Title 62. Public Finance Page 631

3. Hail;

4. Rain;

5. Flooding;

6. Freezing rain or ice;

7. Heavy snow;

8. Wildfires;

9. Seismic disturbances; or

10. Other hazardous condition, whether naturally occurring or

resulting from manmade conditions, having the potential to cause or

having actually caused damage to public infrastructure assets and

for which federal funds may be available pursuant to a declaration

of a disaster by the Governor or pursuant to terms of federal law.

B. Not later than July 31, each entity described by Section 4

of this act shall transmit, in such electronic form as may be

prescribed by the Oklahoma Department of Commerce for purposes of

access to such information on the website maintained by the

Department, a summary of each project upon which matching funds

received by the entity from the Oklahoma Disaster Mitigation and

Recovery Matching Fund were expended during the fiscal year ending

on the June 30 date immediately preceding the July 31 reporting

date.

C. No entity which qualifies for funds pursuant to the

provisions of this act shall be required to provide matching funds

or to provide equivalent value in order to obtain available funds or

funds for planning expenditures from the Oklahoma Disaster

Mitigation and Recovery Matching Fund.

D. No funds allocated pursuant to the provisions of the

Oklahoma Disaster Mitigation and Recovery Matching Fund Act shall be

used for any purpose other than to provide matching funds, available

through the federal government or other sources as authorized by

law, to maximize and leverage such available funding, and the funds

allocated pursuant to the provisions of this act shall not be used

for any direct expenditures on salaries, employee benefits,

acquisition of real or personal property, other than the available

funding for which the allocated funds may be utilized, or any other

purpose.
Okla. Stat. tit. 62, § 62-2014 — OK Code / Title 62 / Section 62-2014
Plan to measure qualitative effects of funded projects —
Status: in_force

Report.

A. For entities obtaining funding pursuant to subsection G of

Section 2003 of Title 62 of the Oklahoma Statutes and subsections A

and B of Section 2007 of Title 62 the Oklahoma Statutes, each entity

shall develop a plan to measure the qualitative effects of projects

funded through the Rural Economic Action Plan of 1996. The plan may

utilize inquiries or surveys of the public, local governments, or

municipalities to measure the effects.

B. On or before January 1, 2028, each entity required to

develop a plan pursuant to subsection A of this section shall submit

a report to the Oklahoma Department of Commerce detailing the

qualitative effects of at least two projects that received funds

pursuant to the Rural Economic Action Plan of 1996.

Oklahoma Statutes - Title 62. Public Finance Page 629

C. Any expenditures associated with creating the plan required

by subsection A of this section and the report required by

subsection B of this section shall be made using the initial

planning expenditure payments authorized pursuant to subsection C of

Section 2011 of Title 62 of the Oklahoma Statutes.
Okla. Stat. tit. 62, § 62-481 — OK Code / Title 62 / Section 62-481
Purchase of county warrants by officer prohibited
Status: in_force

No officer of any county shall directly or indirectly contract

for or purchase any warrant issued by the county of which he is an

officer at any discount whatever, upon the sum due thereon; and if

any such officer shall so purchase or contract to purchase any such

warrant he shall not be allowed in settlement the amount of said

warrant or any part thereof, but shall forfeit the full amount due

thereon, to be recovered by civil action in the suit of the state

for the use of the county.
Okla. Stat. tit. 62, § 62-690.8 — OK Code / Title 62 / Section 62-690.8
Membership of Authority - Appointment - Terms - Officers
Status: in_force

- Compensation - Conflict of Interest - Eligibility - Treasurer's

bond.

A. The boards of county commissioners of each member county of

an enterprise district or the governing bodies of each member city

or town of an enterprise district shall appoint, from their

Oklahoma Statutes - Title 62. Public Finance Page 478

respective counties, cities or towns, no more than five (5) persons

to serve as members of the Authority of the enterprise district.

B. Each Authority member shall have been a qualified elector in

the county from which he is appointed for a period of at least three

(3) years next preceding his appointment.

C. The members of any Authority first appointed shall serve

staggered terms. Thereafter, each successor shall serve for a term

of five (5) years, except that any person appointed to fill a

vacancy shall be appointed to only the unexpired term and any member

shall be eligible for reappointment, and no member shall be removed

except for cause.

D. The members of the Authority shall elect a chairman, a vice-

chairman and a treasurer from among its membership. A majority of

the Authority shall constitute a quorum, the affirmative vote of

which shall be necessary for any action taken by the Authority.

E. A member of the Authority shall receive no compensation for

his services, but shall be reimbursed by the political subdivision

which made his appointment for expenses incurred for attending

meetings of the Authority.

F. During his tenure and for three (3) years thereafter, no

member of an Authority shall own or acquire any interest, direct or

indirect, in any facility included or planned to be included in any

project financed through bonds issued pursuant to this act.

G. No person shall be eligible for appointment as a member of

an Authority who has been convicted of a felony.

H. The treasurer of the Authority shall be bonded in the sum of

One Hundred Thousand Dollars ($100,000.00) conditioned upon faithful

performance of duty and true account of money and proper disposition

of all said money.
Okla. Stat. tit. 62, § 62-57.52 — OK Code / Title 62 / Section 62-57.52
Building Bonds Commission as agency - Indebtedness -
Status: in_force

Purposes.

The State of Oklahoma Building Bonds Commission, 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 Seven Million Dollars ($7,000,000.00) as

principal, for the purpose of constructing, equipping and furnishing

new buildings and other capital improvements, and for equipping,

remodeling, modernizing and repairing any and all existing buildings

and capital improvements at the University of Oklahoma Medical

Center.
Okla. Stat. tit. 62, § 62-511 — OK Code / Title 62 / Section 62-511
Security for insured deposits not required
Status: in_force

Any custodian of public funds of any kind or character, required

by law to secure proper collateral before depositing public funds in

a bank or trust company, shall hereafter, in depositing public funds

in a bank or trust company whose deposits are insured by the Federal

Deposit Insurance Corporation, be required to secure proper

collateral only for sums deposited in excess of the amount of

deposit insured by such Federal Deposit Insurance Corporation.
Okla. Stat. tit. 62, § 62-365.3 — OK Code / Title 62 / Section 62-365.3
Record of judgments, levies and payments
Status: in_force

Each of the three municipal officers specified in Section 365.2

of this title shall maintain, on forms prescribed by the State

Auditor and Inspector, a record of such judgments and of levies made

therefor and of payments made thereon. The record of the secretary

of the county excise board shall be made to show, as to each such

judgment, also the case number and date of final decree of either

the Oklahoma Court of Tax Review or of the Oklahoma Supreme Court

invalidating any levy or part of levy attempted to be made therefor,

and it shall be his duty to notify the court clerk, forthwith, of

such decree, who shall make note of the same on the docket sheet for

the case in which the judgment was entered.
Okla. Stat. tit. 62, § 62-7.4 — OK Code / Title 62 / Section 62-7.4
Renumbered as § 34.59 of this title by Laws 2009, c. 441,
Status: in_force

§ 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-57.73 — OK Code / Title 62 / Section 62-57.73
Attorney General as representative of Commission
Status: in_force

It is provided that the Attorney General of the State of

Oklahoma shall represent the said Building Bonds Commission in the

discharge of its functions provided by this act, and said Building

Bonds Commission shall not employ a private attorney or attorneys.
Okla. Stat. tit. 62, § 62-35.5 — OK Code / Title 62 / Section 62-35.5
Integral information technology assets - Information
Status: in_force

technology positions - Assessment.

A. 1. All state agencies shall provide to the Chief

Information Officer a list of information technology assets of the

agency which are integral to agency-specific applications or

functions and a list of information technology positions which are

directly associated with the assets. The agency shall further

provide the reference to federal or state statutory or

constitutional provisions which require it to perform the

applications or functions.

2. If the Chief Information Officer disputes the identification

of assets or positions provided by a state agency as being integral

to agency-specific applications or functions, the Director of the

Office of Management and Enterprise Services shall make the final

determination.

B. Not later than December 1 of each year, the Chief

Information Officer shall modify the assessment required by

subsection D of Section 34.11.1 of this title to include

identification of:

1. All information technology assets of all state agencies,

which are not integral to agency-specific applications or functions,

and the transfer of which to the Information Services Division of

the Office of Management and Enterprise Services and the Chief

Information Officer would result in a cost savings to the taxpayers

of this state or improved efficiency of state government operations,

including all furniture, equipment, vehicles, supplies, records,

current and future liabilities, fund balances, encumbrances,

obligations, and indebtedness associated with the information

technology assets;

Oklahoma Statutes - Title 62. Public Finance Page 149

2. All information technology positions associated with the

information technology assets identified pursuant to paragraph 1 of

this subsection. The assessment shall identify the amount of

compensation and related liabilities for accrued sick leave, annual

leave, holidays, unemployment benefits, and workers' compensation

benefits for the positions;

3. The amount of savings to the taxpayers of this state

resulting from the provisions of the Information Technology

Consolidation and Coordination Act; and

4. Any changes in law required or any changes to the amount of

state appropriations or other state funds associated with the

transfer of the information technology assets or positions.

C. The information technology assets and positions of each

appropriated state agency identified pursuant to this section shall

be transferred as part of the consolidation of information

technology operations of the state agency to the Information

Services Division of the Office of Management and Enterprise

Services when determined by the Information Services Division. The

costs of operation, maintenance, licensing and service of the

information technology assets shall remain the responsibility of the

state agency from which the assets are transferred until the state

agency information technology operations are consolidated in the

Information Services Division, unless otherwise agreed to by the

state agency and the Information Services Division. Appropriate

conveyances and other documents shall be executed to effectuate the

transfer of the information technology assets and positions to the

Information Services Division of the Office of Management and

Enterprise Services.

D. The Chief Information Officer shall recommend changes to the

Director of the Office of Management and Enterprise Services and the

Governor for inclusion in the next executive budget to be submitted

to the Legislature.

E. The Information Services Division shall provide shared

services to each state agency and shall bill agencies for those

shared services at an estimated cost to provide the services. The

estimated cost shall include the full cost of the services,

including materials, depreciation related to capital costs, labor,

and administrative expenses of the Information Services Division of

the Office of Management and Enterprise Services in connection with

the operation of the data center and Information Services Division

operations and shall include expenses associated with acquiring,

installing, and operating information technology and

telecommunications infrastructure, hardware and software for use by

state agencies. The Information Services Division shall publish a

schedule of costs for each available shared service and shall enter

into an agreement with each state agency for the shared services

that will be provided to the agency. The aggregated cost of shared

Oklahoma Statutes - Title 62. Public Finance Page 150

services to be provided to each state agency shall be budgeted

annually as a separate line item through each state agency. State

agencies shall process request for payments as provided for under

the agreement entered into with the Information Services Division in

a timely manner. If payments are deemed to be delinquent for shared

services provided to a state agency, the Information Services

Division may request the Division of Central Accounting and

Reporting of the Office of Management and Enterprise Services to

create vouchers and process payments to the Information Services

Division against the funds of the delinquent state agency. If the

state agency for which shared services were provided disputes the

provision of shared services in accordance with its agreement with

the Information Services Division, no voucher shall be processed

against the funds of the delinquent agency until the dispute over

services has been resolved, at which point a voucher may be

processed in accordance with the terms of the dispute resolution.

F. The Information Services Division of the Office of

Management and Enterprise Services shall succeed to any contractual

rights, easement rights, lease rights, and other similar rights and

responsibilities related to the information technology assets that

are transferred as provided for in this section and incurred by an

appropriated state agency.
Okla. Stat. tit. 62, § 62-113 — OK Code / Title 62 / Section 62-113
Transfer - How made
Status: in_force

Upon the application of the holders of registered bonds of the

State of Oklahoma issued pursuant to the provisions of this act, and

upon presentation of such bonds at the office of the State

Treasurer, he, the State Treasurer, is hereby authorized to transfer

the same on the books of the state to such persons or corporations

as may be designated in the application. The transfer of said bonds

shall be written or printed on the back of the bonds and shall be

acknowledged before a notary public or other officer authorized

under the laws of this state to take acknowledgments to deeds or

transfers of real estate, or the signatures of the registered

Oklahoma Statutes - Title 62. Public Finance Page 331

holders of the bonds shall be attested by the fiscal agent of the

State of Oklahoma, in the City of New York. Application for

transfers must be filed in the office of the State Treasurer at

least fifteen (15) days before the date of payment of the semiannual

interest next due on the bonds. Nothing in this act shall prohibit

the use of registrars, agents, central depositories or financial

intermediaries as provided in the Registered Public Obligations Act

of Oklahoma.
Okla. Stat. tit. 62, § 62-553 — OK Code / Title 62 / Section 62-553
Notice of ability to pay registered warrants -
Status: in_force

Publication.

It shall be the duty of all such treasurers, whenever any money

comes into their hands by virtue of their respective office, to set

apart a sufficient fund to pay any or all warrants or orders they

may have registered in compliance with the provisions of Section 551

et seq. of this title, and to keep the same until called for; and

the State Treasurer shall make regular calls, at least every sixty

(60) days, by publishing notice in some newspaper of general

circulation published at the state capital, giving notice that he

has money in his hands with which to pay warrants, and give the

numbers and the several funds, and requesting that the same be

presented at the Treasury for payment and cancellation, and every

county treasurer, city or town treasurer and the treasurer of every

board of education, shall make calls for warrants or orders by

posting notices in the manner as provided by Section 475 of this

title or by publication of a like notice as that required of the

State Treasurer, in some paper of general circulation published in

the county, and the interest on any and all warrants or orders

called as above specified, shall cease on and after thirty (30) days

from the date of the publication of such notice: Provided, that

each county treasurer shall transmit to the State Treasurer all

state funds or warrants in his hands on the first day of each month:

Provided, further, that any treasurer who violates any of the

provisions of this article, shall be guilty of a misdemeanor, and

punished as provided in Section 552 of this title: And provided,

further, that each school district treasurer shall publish such

notice by posting printed or written notices of the same in two or

more public places in his district.

Oklahoma Statutes - Title 62. Public Finance Page 454

R.L. 1910, § 6784; Laws 1993, c. 318, § 6, emerg. eff. June 7, 1993.
Okla. Stat. tit. 62, § 62-34.63 — OK Code / Title 62 / Section 62-34.63
Disbursements
Status: in_force

A. The State Treasurer shall be the disbursing agency of the

state and shall draw either checks or warrants payable at the State

Treasury, in payment of all claims, including payrolls, against the

state which shall be paid out of the Treasury, as follows:

1. Each check or warrant shall specify the date of its issue

and the name of the person to whom payable; and

2. For each check, or warrant, issued by the State Treasurer,

there shall be a record which shall specify the gross amount, the

amount of withholding, if any, and the net amount payable to the

payee.

B. At the end of each month the State Treasurer shall report to

the Director of the Office of Management and Enterprise Services in

such form as the Director shall prescribe, all checks or warrants

issued during the month.

C. Checks or warrants issued by the State Treasurer shall be

registered on the records of the State Treasurer in such manner as

shall be prescribed by the Director of the Office of Management and

Oklahoma Statutes - Title 62. Public Finance Page 103

Enterprise Services; provided, that each check or warrant shall

indicate thereon the fund against which the same shall be charged.

The purpose of this section is to permit checks or warrants to be

registered in the order in which they are drawn upon the State

Treasury.
Okla. Stat. tit. 62, § 62-396 — OK Code / Title 62 / Section 62-396
Registration of bonds
Status: in_force

The clerk of every county, city, town, township, school district

and board of education, issuing bonds under Sections 391 et seq. of

this title shall register the same in his office. Such bonds shall

also, in every case, be registered by the county clerk, showing the

date, number and amount thereof, rate of interest, to whom payable,

where payable, date of maturity, and, if optional, under what

conditions; and all indebtedness refunded under this article shall

have the words "paid in full" marked in a plain manner across the

face of each bond, or warrant refunded; and such canceled

obligations shall be carefully preserved in the office of the county

clerk or destroyed by the county commissioners, a register of the

number, amount and date of issue having been first made by the

Oklahoma Statutes - Title 62. Public Finance Page 412

county clerk. The proper officer shall, at the time of issuing

refunding bonds, make out and transfer to the State Auditor and

Inspector a certified statement of all proceedings had by the proper

board or city council as shown of record and that said bonds have

been issued for value in all respects in conformity to this article

for certain indebtedness to be surrendered, definitely describing

the bonds issued and the indebtedness to be surrendered, in exchange

therefor and that they have been duly registered by the attesting

clerk and the county clerk as required herein; which statement shall

be in such form and include such other information as the State

Auditor and Inspector may require, and be signed by all the officers

whose signatures are attached to such bonds, and attested by the

proper clerk, with the corporate seal of the county, city, town,

township, school district or board of education, if any, and duly

acknowledged before the county clerk. And the State Auditor and

Inspector shall, upon being satisfied that such bonds have been

issued according to the provisions of this article, and that the

signatures thereto of the officers signing the same are genuine,

register the same in his office in a book kept for that purpose and

shall, under his seal of office, certify upon such bonds the fact

that they have been registered in his office according to law.

Nothing in Sections 391 et seq. of this title shall be construed to

prohibit options available under the Registered Public Obligations

Act of Oklahoma.
Okla. Stat. tit. 62, § 62-348 — OK Code / Title 62 / Section 62-348
Written investment policy – Requirements – Permissible
Status: in_force

investments.

A. The governing board of any political subdivision of this

state, as defined by Section 152 of Title 51 of the Oklahoma

Statutes, may authorize a written investment policy, ordinance, or

resolution permitting and directing the treasurer or other duly

authorized officer or employee of the political subdivision to

invest public funds. Any written investment policy shall address

liquidity, diversification, safety of principal, yield, maturity and

quality, and capability of investment management, with primary

emphasis on safety and liquidity in the investment of funds. A

written investment policy shall, to the extent practicable, provide

for the use of competitive bids when purchasing brokered securities.

However, this section shall not be construed as preventing the use

of sound investment judgment when purchasing brokered securities.

B. The written policy, ordinance, or resolution may authorize

the treasurer or other duly authorized officer or employee of the

political subdivision to purchase and invest in any or all of the

following:

1. Direct obligations of the federal government, the payment of

which the full faith and credit of the federal government is

pledged, its agencies, or its instrumentalities; and of federal

agencies or federal government-sponsored enterprise obligations,

participations, or other instruments, including those issued by or

fully guaranteed as to principal and interest by federal agencies or

federal government-sponsored enterprises;

2. Obligations, the payment of which the full faith and credit

of this state is pledged, or investment grade obligations of state

agencies, public trusts, authorities, or instrumentalities rated A+

or better by S&P Global or A1 or better by Moody’s Ratings or

equivalent by other securities ratings organization;

3. Collateralized or insured certificates of deposits of banks,

savings and loan associations, savings banks, or credit unions

located within the state and located out of the state when such

certificates of deposits are secured by acceptable collateral;

4. Negotiable certificates of deposit issued by a nationally or

state-chartered bank, a savings bank, a savings and loan

association, or a state-licensed branch of a foreign bank;

5. Savings accounts or savings certificates of banks, savings

and loan associations, or credit unions where the funds are either

secured by acceptable collateral or fully insured by the Federal

Oklahoma Statutes - Title 62. Public Finance Page 391

Deposit Insurance Corporation or the National Credit Union

Administration;

6. Direct debt obligations of county, municipal, or school

districts or their authorities for which an ad valorem tax may be

levied or paid by bond and revenue anticipation note; and of money

judgments against a county, municipal, or school district paid by

bonds or bond and revenue anticipation notes issued by a public

trust of which the county, municipality, or school district is a

beneficiary thereof;

7. Prime banker’s acceptances which are eligible for purchase

by the Federal Reserve System and which do not exceed two hundred

seventy (270) days’ maturity; provided, purchase of prime banker’s

acceptances shall not exceed ten percent (10%) of the surplus funds

of the political subdivision which may be invested according to this

section; however, the restrictions of this paragraph shall not apply

to purchases of prime banker’s acceptances by qualified pooled

investment programs established under paragraph 11 of this section;

8. Prime commercial paper which shall not have a maturity that

exceeds one hundred eighty (180) days nor represent more than ten

percent (10%) of the outstanding paper of an issuing corporation.

Purchases of prime commercial paper shall not exceed seven and one-

half percent (7 1/2%) of the surplus funds of the political

subdivision which may be invested pursuant to this section; however,

the restrictions in this paragraph shall not apply to purchases of

prime commercial paper by qualified pooled investment programs

established under paragraph 11 of this section;

9. Repurchase agreements that have underlying collateral

consisting of those items specified in paragraphs 1 through 8 of

this subsection;

10. Money market funds regulated by the United States

Securities and Exchange Commission and which investments consist of

those items and those restrictions specified in paragraphs 1 through

9 of this subsection; or

11. Qualified pooled investment programs, the investments of

which consist of those items specified in paragraphs 1 through 10 of

this subsection. To be qualified, a pooled investment program must

be governed through an interlocal cooperative agreement formed

pursuant to Sections 1001 through 1008 of Title 74 of the Oklahoma

Statutes.

C. Any political subdivision which elects to participate in a

local government investment pool shall be deemed to have authorized

investments in the items specified in paragraphs 1 through 10 of

subsection B, notwithstanding any differences in the written

investment plans adopted by the governing body.

D. The income received on any investment may be placed in the

general fund, rainy day fund, capital reserve fund, or the fund from

which the investment was made.

Oklahoma Statutes - Title 62. Public Finance Page 392

E. Investments shall be made with judgment and care, under

circumstances then prevailing, which persons of prudence,

discretion, and intelligence exercise in the management of their own

affairs, not for speculation, but for investment, considering the

probable safety of their capital as well as the probable income to

be derived.

F. This section shall not prohibit public retirement systems

from investing under any other system authorized under state law.
Okla. Stat. tit. 62, § 62-34.9 — OK Code / Title 62 / Section 62-34.9
Classification of funds - Manner of keeping fund
Status: in_force

accounts.

The Director of the Office of Management and Enterprise Services

is hereby authorized and directed to classify funds in the State

Treasury and to prescribe the manner of issuance of checks or

warrants against each class of funds to accomplish the purpose for

which each such fund was created. The State Treasurer shall be, and

is, required to keep fund accounts in accordance with such

classification. The Director of the Office of Management and

Enterprise Services shall group funds of a similar nature in a

series of classes. Accounting entities otherwise designated as

funds, by other provisions of law, may be retained, deactivated,

merged with other such entities or identified as accounts within

funds as the Director of the Office of Management and Enterprise

Services determines to be appropriate for purposes of the

modernization and maintenance of the fund structure of the state.
Okla. Stat. tit. 62, § 62-423 — OK Code / Title 62 / Section 62-423
Registration of bonds - Cancellation of refunded obligations - Preservation - Certificate of
Status: in_force

refunded obligations - Preservation - Certificate of issuance pursuant to law - Certification by Stateobligations - Preservation - Certificate of refunded obligations -

Preservation - Certificate of issuance pursuant to law -

Certification by State Auditor and Inspector.

The clerk or appointed agent of every county, city, town,

township, board of education, school district, or other municipal

corporation in this state, issuing bonds under Sections 421 et seq.

of this title, shall register the same in his office. Such bonds

shall also, in every case, be registered by the county clerk or

appointed agent, showing the date, number and amount thereof, rate

of interest, to whom payable, where payable, and date of maturity;

and all bonded indebtedness refunded under this act shall have the

words "paid in full" marked in plain manner across the face of each

bond refunded; and such canceled obligations shall be carefully

preserved by the clerk or appointed agent of such municipality, or

destroyed, upon resolution or ordinance therefor, as the case may

be, after a registration of the number, amount and date of issuance

having first been made by the clerk or appointed agent; and all

bonds issued under Sections 421 et seq. of this title shall have

endorsed thereon a certificate, signed by the county clerk and the

district attorney of the county in which such issuing municipality

is located, said bonds, or evidence of debt, are issued pursuant to

law, and that said issue is within the debt limit. Thereafter said

refunding bonds shall be delivered to the State Auditor and

Inspector and he shall register the same in his office in a book

kept for that purpose and shall, under his seal of office certify

upon such bonds the fact that they have been registered in his

office according to law. The provisions of the Registered Public

Obligations Act of Oklahoma shall apply.
Okla. Stat. tit. 62, § 62-34.501 — OK Code / Title 62 / Section 62-34.501
Allocation of federal Coronavirus Aid, Relief, and
Status: in_force

Economic Security Act (CARES) funds.

A. Unless expressly authorized by the Legislature pursuant to

legislation enacted during or after the 1st Regular Session of the

58th Oklahoma Legislature, no agency, board, commission, department,

council, instrumentality or other entity organized within the

executive branch of state government shall utilize the federal funds

from the Coronavirus Aid, Relief, and Economic Security Act (CARES)

allocated to it in a manner that will or that will be likely to

increase the demand for state-appropriated funds or any other state

funds, however allocated, apportioned, directed or otherwise

provided to any such entity, for the fiscal year ending June 30,

2021, or any fiscal year thereafter.

B. The provisions of subsection A of this section shall be

applicable to any federal funds allocated or otherwise made

available for expenditure by an act of Congress or pursuant to

federal administrative rules or directives of an agency of the

federal government authorized by federal law on or after December 1,

2020.
Okla. Stat. tit. 62, § 62-873 — OK Code / Title 62 / Section 62-873
Designation of rural housing incentive districts - Authority of municipality or county -
Status: in_force

Findings and determinations - Review by Executive Director of Oklahoma Housing Finance Agency. ... 571Authority of municipality or county - Findings and determinations -

Review by Executive Director of Oklahoma Housing Finance Agency.

A. The governing body of any municipality or county is hereby

authorized to designate rural housing incentive districts within

such municipality or county. Any municipal governing body may

designate one or more such districts in such municipality, and any

county governing body may designate one or more such districts in

any part of the unincorporated territory of such county. Prior to

making such a designation, the governing body shall conduct a

housing needs analysis to determine what, if any, housing needs

exist within its community. After conducting the analysis, the

governing body shall adopt a resolution containing a legal

description of the proposed district, a map depicting the existing

parcels of real estate in the proposed district, and a statement of

the following findings and determinations:

1. There is a shortage of quality housing of various price

ranges in the municipality or county despite the best efforts of

public and private housing developers;

2. The shortage of quality housing can be expected to persist

and additional financial incentives are necessary in order to

encourage the private sector to construct or renovate housing in the

municipality or county;

Oklahoma Statutes - Title 62. Public Finance Page 571

3. The shortage of quality housing is a substantial deterrent

to the future economic growth and development of such municipality

or county; and

4. The future economic well-being of the municipality or county

depends on the governing body providing additional incentives for

the construction or renovation of quality housing in such

municipality or county.

B. The resolution containing the findings contained in

subsection A of this section shall be published at least once in a

legal newspaper of general circulation within the municipality or

county.

C. Upon publication of the resolution as provided in subsection

B of this section, the governing body shall send a certified copy of

the resolution to the Executive Director of the Oklahoma Housing

Finance Agency, requesting that the Executive Director review the

resolution and advise the governing body whether he or she agrees

with the findings contained therein. If the Executive Director

advises the governing body in writing that he or she agrees with

each of the findings of the governing body, the governing body may

proceed to establish the district as set forth in the Oklahoma Rural

Housing Incentive District Act. If the Executive Director fails to

agree with the findings, the Executive Director shall advise the

governing body in writing of the specific reasons therefor.
Okla. Stat. tit. 62, § 62-48.1 — OK Code / Title 62 / Section 62-48.1
Legislative findings
Status: in_force

A. The Legislature finds the following to be beneficial goals

of the state: attracting, retaining and providing favorable

conditions for the recruitment and growth of certain high-impact

business projects or facilities which provide widespread economic

benefits to the public through high-quality employment opportunities

or capital investment in such projects or facilities and net

economic benefits to the state.

B. The Legislature further finds that there exists serious

competition for these projects and facilities, and that without a

workable closing fund, Oklahoma continues to be at a competitive

disadvantage in vying with states that have such a fund for

attracting and/or retaining these business projects.
Okla. Stat. tit. 62, § 62-690.7 — OK Code / Title 62 / Section 62-690.7
Enterprise District Management Authority
Status: in_force

Each enterprise district formed pursuant to Section 690.6 of

this title shall create, by adoption of a resolution by a majority

of the members of each board or governing body, an authority to be

known as the "Enterprise District Management Authority". Each

Authority created pursuant to this section shall be, and is hereby

declared to be a public body, corporate and politic, with the powers

and duties specified in this act.
Okla. Stat. tit. 62, § 62-72.3 — OK Code / Title 62 / Section 62-72.3
Necessity of security - Exemptions
Status: in_force

All public deposits made by the State Treasurer in financial

institutions shall be secured as provided for in the Security for

Public Deposits Act. As used in this section, "public deposits"

shall not include those types of investments specified in paragraphs

1, 3, 4, 5, 6, 7 and 8 of subsection A of Section 89.2 of this

title.
Okla. Stat. tit. 62, § 62-57.191 — OK Code / Title 62 / Section 62-57.191
Attorney General to handle legal work
Status: in_force

All legal work is to be done by the Attorney General in

connection with this act.
Okla. Stat. tit. 62, § 62-886 — OK Code / Title 62 / Section 62-886
Residences qualifying for tax exemption - Application -
Status: in_force

Limit on amount.

A. Upon creation of a housing reinvestment district pursuant to

the provisions of Section 5 of this act, there shall be granted

exemptions from ad valorem taxes upon property that qualifies for a

homestead exemption as follows:

1. A newly constructed residence located on a parcel upon which

a residence has not previously been located within a ten-year period

immediately preceding the date of the commencement of construction

shall be exempt from ad valorem taxes for a period of two (2) tax

years, beginning with the tax year the property first qualifies for

a homestead exemption, to the extent of the ad valorem taxes upon

the parcel of property upon which the residence is located

attributable to the difference in the fair market value of such

Oklahoma Statutes - Title 62. Public Finance Page 581

parcel in such tax year compared to the fair market value of such

parcel in the tax year in which construction of the residence

commenced;

2. A newly constructed residence located on a parcel upon which

a residence was previously located within a ten-year period

immediately preceding the date of the commencement of construction

shall be exempt from ad valorem taxes for a period of three (3) tax

years, beginning with the tax year the property first qualifies for

a homestead exemption, to the extent of the ad valorem taxes upon

the parcel of property upon which the residence is located

attributable to the difference in fair market value of such parcel

in such tax year compared to the fair market value of such parcel in

the tax year in which construction of the residence commenced; and

3. A residence to which an improvement, as defined in Section

2802.1 of Title 68 of the Oklahoma Statutes, has been made, in an

amount which increases the fair cash value of the property by not

less than Twenty Thousand Dollars ($20,000.00) as determined by the

county assessor, shall be exempt from ad valorem taxes for a period

of five (5) tax years, beginning with the first full tax year

following completion of the improvement, to the extent of the amount

of ad valorem taxes attributable to the value of the improvement.

For purposes of this section, a “newly constructed residence”

shall mean a dwelling for which construction was commenced after the

creation of the housing reinvestment district in which the dwelling

is located.

B. The owner of any property qualifying for an exemption as

provided in subsection A of this section shall apply to the county

assessor on or before March 15 of the first tax year for which the

exemption is sought for the granting of such exemption. Such

exemption shall not be granted unless the property owner is in

compliance with all ad valorem tax laws of this state. If the

property owner ceases to be in compliance with all ad valorem tax

laws of this state during the period of the exemption, the exemption

shall be disallowed.

C. An exemption from ad valorem taxes in any area included

within the boundaries of an enterprise area, a historic preservation

area or a reinvestment area as such terms are defined in Section 853

of Title 62 of the Oklahoma Statutes, or in a rural housing

incentive district established in accordance with the Oklahoma Rural

Housing Incentive District Act, in which ad valorem tax revenues or

other local tax revenues, or any increment or portion thereof, are

apportioned or allocated for the repayment of bonds pursuant to the

Local Development Act or the Oklahoma Rural Housing Incentive

District Act, shall be limited to the amount of ad valorem taxes not

so apportioned or allocated.
Okla. Stat. tit. 62, § 62-41.5l — OK Code / Title 62 / Section 62-41.5l
Renumbered as § 34.22 of this title by Laws 2009, c
Status: in_force

441, § 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-120.4 — OK Code / Title 62 / Section 62-120.4
Property accounts
Status: in_force

The property accounts set up, maintained and kept as provided by

law, for tangible property and equipment, other than expendable

supplies, shall be maintained on cost basis, representative of

capital values of invested state monies, and never charged with

appreciation nor credited with depreciation; but on sale or exchange

and reacquisition of properties of comparable function as

hereinbefore provided, the capital account thereof shall be credited

with the first or capital cost of the item disposed of and charged

with the gross cost of the substitute item acquired; unless and

until the Legislature shall require that the depleted or depreciated

value shall be charged to expense.
Okla. Stat. tit. 62, § 62-275.11 — OK Code / Title 62 / Section 62-275.11
Time limitation for state compliance with Title 40, §
Status: in_force

165.2.

The State of Oklahoma shall be allowed ten (10) working days

after the regular payday designated by an employer in order to

comply with the requirements of Section 165.2 of Title 40 of the

Oklahoma Statutes.
Okla. Stat. tit. 62, § 62-571 — OK Code / Title 62 / Section 62-571
Short title
Status: in_force

This act shall be known and may be cited as the "Bond Issue

Proceeds Act".
Okla. Stat. tit. 62, § 62-865 — OK Code / Title 62 / Section 62-865
Agreement between other local taxing entity and governing
Status: in_force

body.

A. In accordance with the requirements of Section 6C of Article

X of the Oklahoma Constitution, the tax incentives or exemptions

granted pursuant to the provisions of Section 860 of this title

shall only be allowed for that portion of the tax under jurisdiction

of another local taxing entity by written agreement between said

other local taxing entity and the governing body of the city, town

or county.

B. In order for the tax incentives or exemptions to be granted

for that portion of the tax under the jurisdiction of each taxing

entity within the district, the governing body of the taxing entity

must adopt the agreement provided for in subsection A of this

section upon a majority vote of those members eligible to vote as

determined by Section 857 of this title. Action on the agreement by

Oklahoma Statutes - Title 62. Public Finance Page 564

these governing bodies must occur within sixty (60) days after the

governing body of the city, town or county submits the proposed

agreement to the governing bodies of such taxing entities.
Okla. Stat. tit. 62, § 62-7.5a — OK Code / Title 62 / Section 62-7.5a
Renumbered as § 34.60 of this title by Laws 2009, c. 441,
Status: in_force

§ 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-828 — OK Code / Title 62 / Section 62-828
Issuance of bonds by participating entities – Examination
Status: in_force

by Attorney General.

Once a Regional District has been established by the Governor,

the governing bodies of each of the Participating Entities

comprising such district shall take all actions required by law for

the issuance of the type of bonds described in the Final Project

Plan. A transcript of proceedings for each of the Participating

Entities shall thereafter be prepared and submitted to the Attorney

General of Oklahoma for examination. Such bonds, having been

examined and certified as legal obligations by the Attorney General

in accordance with such requirements as the Attorney General may

make, shall be incontestable in any court of the State of Oklahoma

unless suit thereon shall be brought in a court having jurisdiction

thereof within thirty (30) days from the date of such approval.

Bonds so approved by the Attorney General shall be prima facie valid

and binding obligations according to their terms. The only

objection which may be offered thereto in any suit instituted after

such thirty-day period shall have expired shall be a violation of

provisions of either the United States Constitution or the Oklahoma

Constitution.
Okla. Stat. tit. 62, § 62-56 — OK Code / Title 62 / Section 62-56
Creation and designation of fund - Deposits
Status: in_force

There is hereby created in the State Treasury a special fund to

be known and designated as the Building Bond Fund, into which fund

shall be deposited the proceeds received by the State of Oklahoma

Oklahoma Statutes - Title 62. Public Finance Page 194

from the sale of bonds, authorized by Section 31, Article 10, of the

Constitution of Oklahoma.
Okla. Stat. tit. 62, § 62-34.5 — OK Code / Title 62 / Section 62-34.5
Director of the Office of Management and Enterprise
Status: in_force

Services - Appointment.

The Governor shall appoint a Director of the Office of

Management and Enterprise Services, by and with the consent of the

Senate, who shall hold office at the pleasure of the Governor and

shall continue to serve until a successor is duly appointed and is

qualified.
Okla. Stat. tit. 62, § 62-41.13 — OK Code / Title 62 / Section 62-41.13
Renumbered as § 34.50 of this title by Laws 2009, c
Status: in_force

441, § 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-90.1 — OK Code / Title 62 / Section 62-90.1
Short title
Status: in_force

This act shall be known and may be cited as the “Rural Economic

Development Loan Act”.
Okla. Stat. tit. 62, § 62-34.52 — OK Code / Title 62 / Section 62-34.52
Requests for budget category transfer
Status: in_force

A. The administrative head of any agency or the request officer

may request that any current item of appropriation, allotment, or

budget category be transferred to any other budget category within

the same agency.

B. The administrative head shall make a request for budget

transfer to the Director of the Office of Management and Enterprise

Services in writing and file a revised agency budget.

C. Copies of the request for budget transfer and corresponding

agency budget revisions shall also be filed with the Joint

Legislative Committee on Budget and Program Oversight as created by

Section 34.96 of this title.

D. The Director of the Office of Management and Enterprise

Services shall approve the request for transfer unless both the

Chair and Vice Chair of the Joint Legislative Committee on Budget

and Program Oversight provide written notification to the Director

of the Office of Management and Enterprise Services within twelve

(12) calendar days of receipt of transfer request that the transfer

subverts the intention and objectives of the Legislature in

establishing the original appropriation, or unless the transfer does

not meet the requirements of this section or Section 34.49 of this

title. Notification of noncompliance with legislative intent shall

be transmitted to the Director of the Office of Management and

Enterprise Services within twelve (12) calendar days of receipt of

the transfer request. The Director of the Office of Management and

Enterprise Services shall give written notice of approval or

disapproval of each budget transfer to the agency, the Governor and

the Chair and Vice Chair of the Joint Legislative Committee on

Budget and Program Oversight within eighteen (18) calendar days of

receiving the request.

E. Transfers shall be subject to the following limitations:

1. The amount to be transferred, together with all previous

transfers, shall not exceed twenty-five percent (25%) of the total

appropriation of the least of the items of appropriation, allotment

or agency budget involved in the transfer; and

2. If the amount to be transferred, and all previous transfers,

is greater than twenty-five percent (25%) of the least items of

appropriation, allotment or agency budget involved in the transfer

request, the agency may make an application to the Director of the

Office of Management and Enterprise Services, and the Chair and Vice

Chair of the Joint Legislative Committee on Budget and Program

Oversight. If the agency obtains written approval from the Director

of the Office of Management and Enterprise Services and the Chair

and Vice Chair of the Joint Legislative Committee Budget and Program

Oversight, an additional fifteen percent (15%) may be transferred.
Okla. Stat. tit. 62, § 62-57.176 — OK Code / Title 62 / Section 62-57.176
Attorney General to handle legal work
Status: in_force

All legal work herein is to be done by the Attorney General in

connection with this act.
Okla. Stat. tit. 62, § 62-57.8 — OK Code / Title 62 / Section 62-57.8
Investments in bonds - 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

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, § 62-57.27 — OK Code / Title 62 / Section 62-57.27
Intent as to resources of state
Status: in_force

It is hereby declared to be the intent of the Legislature of

Oklahoma, in adopting this act, that the State of Oklahoma Building

Bonds of 1955 authorized by this act be financed and purchased with

resources possessed by the State of Oklahoma, in the custody of the

State Treasurer of the State of Oklahoma and of the Commissioners of

the Land Office; and that the resources in the custody of the State

Treasurer be used for said purpose to the maximum extent possible

before the resources of the Commissioners of the Land Office are

used for said purpose.
Okla. Stat. tit. 62, § 62-35.6.2 — OK Code / Title 62 / Section 62-35.6.2
Land Mobile Radio Public Safety Interoperability
Status: in_force

Cooperative

Oklahoma Statutes - Title 62. Public Finance Page 152

A. In order to comply with Executive Orders and federal and

state statutory and regulatory requirements related to interoperable

public safety communications and to support the critical mission and

purposes of the agencies within the Oklahoma Safety and Security

Cabinet, the Transportation Cabinet and the Finance, Administration

and Information Technology Cabinet, there is hereby established the

Land Mobile Radio Public Safety Interoperability Cooperative. The

Land Mobile Radio Public Safety Interoperability Cooperative shall

be governed by a committee initially consisting of the Secretary of

Finance, Administration and Information Technology or designee, the

Secretary of Transportation or designee and the Secretary of Safety

and Security or designee. The Cooperative is established to focus

on unifying, stabilizing and enhancing the infrastructure and

capabilities for land mobile radio public safety system

communications for the State of Oklahoma and shall include

representatives of other public radio system boards or committees

along with future voting or non-voting public entity members as

deemed appropriate, nominated and agreed to by vote of the committee

members defined in this paragraph.

B. 1. In establishing and operating the Land Mobile Radio

Public Safety Interoperability Cooperative, the committee shall

collaborate with other public agencies, public entities and other

interested parties having public safety radio communications

requirements and resources.

2. The Cooperative shall establish an appropriate governance

model for determining priorities, leveraging state-owned or other

shared services and infrastructure, identifying existing and new

resources and directing new investments to facilitate reliable,

statewide and fully operational public safety radio communications

to serve the purposes described.

3. In support of the requirements of the Oklahoma Homeland

Security Act, the Oklahoma Information Services Act and the

Information Technology Consolidation and Coordination Act, the

Cooperative shall have the following duties:

a. enable cost savings to the State of Oklahoma through

unification and enhancement of current land mobile

radio public safety systems,

b. sustain existing interoperability of land mobile

public safety radio systems,

c. recommend standards and protocols for land mobile

radio public safety systems,

d. recommend standards to become P25 compliant and other

common radio interoperability standards, and

e. establish service metrics to ensure reliable land

mobile public safety services statewide in support of

state, local and first responders.

Oklahoma Statutes - Title 62. Public Finance Page 153

C. Actions, decisions and operation of the Land Mobile Radio

Public Safety Interoperability Cooperative shall be performed in

compliance with, in support of and secondary to all statutory

duties, requirements, responsibilities and authority provided to the

Office of Management and Enterprise Services and the Oklahoma Office

of Homeland Security; however, the resources and mechanisms

available to Cooperative members by ownership or through agreement

may be collectively utilized to carry out the provisions of this

statute.
Okla. Stat. tit. 62, § 62-391 — OK Code / Title 62 / Section 62-391
Refund of indebtedness authorized - Issue of new bonds
Status: in_force

Every county, every city or town, the board of education of

every city, every township, and every school district, is hereby

authorized and empowered to refund its indebtedness, including

bonds, judgments and warrants, as hereinafter provided, upon such

terms as can be agreed upon, and to issue new bonds with interest in

payment for any sum so refunded; which bonds shall be sold at no

less than par, and shall not be for a longer period then twenty-five

(25) years, shall not exceed in amount the actual amount of

outstanding indebtedness, inclusive of accrued interest and shall

not draw a greater interest than the maximum rate provided by

Section 498.1 of this title.
Okla. Stat. tit. 62, § 62-310.3 — OK Code / Title 62 / Section 62-310.3
Removal from office for exceeding appropriation
Status: in_force

Any county or municipal officer who in his capacity as an

officer or as or through a purchasing officer shall incur or cause

to be incurred any indebtedness, purchase order or obligation for

any purpose or for any account in excess of the appropriation

Oklahoma Statutes - Title 62. Public Finance Page 377

available therefor shall forfeit and be removed from office in the

manner provided by law for willful maladministration.
Okla. Stat. tit. 62, § 62-34.11.9 — OK Code / Title 62 / Section 62-34.11.9
Oklahoma State Government Business Licensing One-Stop
Status: in_force

Program.

Oklahoma Statutes - Title 62. Public Finance Page 47

A. There is hereby established the Oklahoma State Government

Business Licensing One-Stop Program.

B. The Chief Information Officer shall promulgate procedures by

which state agencies shall enter into an arrangement with the Office

of Management and Enterprise Services for the provision of a real-

time licensing and permitting one-stop web-based offering.

C. Real-time licensing and permitting services shall be made

available to the public through the website Business.ok.gov and

shall be offered through the 2nd Century Entrepreneurship Center

business licensing framework.

D. The 2nd Century Entrepreneurship Center and all

corresponding assets and personnel are hereby transferred from the

Oklahoma Department of Commerce to the Information Services Division

of the Office of Management and Enterprise Services.

E. The Chief Information Officer may grant an exemption from

the requirements of this section to state agencies which offer

licensing and permitting procedures requiring documentation that

cannot be provided through a web-based portal. Exemptions shall be

limited to individual licensing processes, shall not be granted on

an agency-by-agency basis and shall be reported according to the

requirements of subsection D of Section 34.24.1 of this title. Each

exemption shall be renewed on an annual basis.

F. State agencies shall comply with procedures promulgated

pursuant to the terms of this section.
Okla. Stat. tit. 62, § 62-861 — OK Code / Title 62 / Section 62-861
Tax increment financing - Apportionment - Adjustment
Status: in_force

A. A project plan may contain a provision that the increments

from certain local taxes or fees may be used to finance project

costs in areas qualified under the Local Development Act. The

increment from local taxes or fees levied from and after the

effective date of the approval of such plan shall be apportioned in

the following manner for a period not to exceed twenty-five (25)

fiscal years thereafter or the period required for payment of

project costs, whichever is less; provided, however, that for any

increment district established after November 1, 1992, such time

period shall be tolled for a period of time equal to the pendency of

any litigation directly or indirectly challenging the increment

district or apportionment or disbursement:

1. That portion of the ad valorem taxes which are produced by

the levy at the rate fixed each year by or for each such ad valorem

taxing entity upon the base assessed value of the increment district

determined pursuant to Section 862 of this title and as to an area

later added to the increment district, the effective date of the

addition to the increment district, shall be paid to each taxing

entity and all or any portion of local sales taxes, other local

taxes or local fees collected each year which are not subject to

apportionment shall be paid or retained as otherwise provided by

law; and

2. All or any portion of:

a. ad valorem taxes, in excess of such amount specified

in paragraph 1 of this subsection,

b. the increment of local sales taxes, other local taxes

or local fees, or a combination thereof, paid to or

Oklahoma Statutes - Title 62. Public Finance Page 558

for the benefit of the city, town, or county approving

the plan, and

c. with its consent, evidenced by agreement in writing,

the increment of local sales tax, other local taxes or

local fees, or combination thereof, payable to any

other local public taxing entity,

shall be apportioned to, and when collected, shall be paid into an

apportionment fund established for the project pursuant to the

project plan. Such revenues shall be used for the payment of the

project costs and for the payment of the principal of, the interest

on, and any premiums due in connection with the bonds of, loans,

notes, or advances of money to, or indebtedness incurred to finance

project costs, whether funded, refunded, assumed, or otherwise, for

financing, in whole or in part, eligible project costs. For the

purposes of this section, “local sales tax” means amounts payable to

or for the benefit of a local governmental entity calculated as a

percentage of gross sales whether imposed by ordinance, resolution,

covenant, or agreement. Nothing shall prohibit the increments from

being used to directly pay eligible project costs. When all

eligible project costs and such bonds, loans, advances of money or

indebtedness, if any, including interest thereon and any premiums

due in connection with them, have been paid and the governing body

adopts an ordinance or resolution dissolving the tax apportionment

financing, all ad valorem taxes upon the taxable property within the

boundary of such district shall be paid into the funds of the

respective taxing entities.

B. If a project plan contains a provision for apportionment as

provided in subsection A of this section, and notwithstanding any

other provision of law to the contrary, the governing body shall

direct in the resolution or ordinance approving the plan which

portion of the increments, including whether any or all, to be paid

into the apportionment fund shall constitute a part of the general

fund to be appropriated annually by the governing body, and which

portion, including whether any or all, shall constitute funds of a

public entity authorized to issue tax apportionment bonds or notes

or to incur project costs.

C. To the extent that collections exceed project costs and the

provisions for payment of principal and interest along with

sufficient reserves on any bonds issued pursuant to the provisions

of Section 863 of this title, the excess shall be paid into the

funds of the respective taxing entities unless the taxing entity

agrees to some other use of such collections.

D. Except as provided in subsection E of this section, for any

year in which taxes or fees are apportioned in the manner specified

in paragraph 2 of subsection A of this section, any increase in

assessed valuation of taxable real property or taxable personal

property within the boundaries of such district in excess of the

Oklahoma Statutes - Title 62. Public Finance Page 559

base assessed value shall not be considered by any taxing entity in

computing any debt limitation or for any other purpose except for

the levy of taxes and in determining the amount to be apportioned.

E. In the event there is a change in the assessment ratio for

ad valorem tax property valuations of property within the boundaries

of an increment district, the portions of valuations for assessment

pursuant to paragraphs 1 and 2 of subsection A of this section shall

be proportionately adjusted in accordance with such reassessment.

F. Nothing in this section shall be construed as relieving

property in such project area from being assessed as provided in the

Ad Valorem Tax Code of the Oklahoma Statutes, or as relieving owners

of such property from paying a uniform rate of taxes, as required by

Section 5 of Article X of the Oklahoma Constitution.

G. Subject to constitutional exemptions, if property in an

increment district is owned by a public entity and is leased to or

operated for a private use, including, without limitation, use by a

not-for-profit corporation or trust, the portion of the property so

leased or operated shall be assessed by the county assessor as if

such portion of the property were taxable, and, during the term of

the increment district, the public entity owning such property shall

pay or require the user thereof to pay ad valorem taxes or an in

lieu ad valorem tax payment in an amount not less than the amount

that would have resulted if taxes had otherwise been levied on such

portion of the property. If property subject to ad valorem tax in

an increment district is acquired by a private not-for-profit

corporation or public or private trust, it shall continue to be

assessed and subject to ad valorem taxes or an in lieu ad valorem

payment by the user thereof until termination of the increment

district unless and only to the extent of the portion of the

property and the use thereof that is:

1. Acquired to implement the project plan;

2. Converted to a new tax-exempt use by a tax-exempt user; or

3. Entitled to claim a constitutional exemption notwithstanding

statutory provisions.

During the period of an increment district, such nonexempt uses and

interests are severable for purposes of ad valorem and in lieu of ad

valorem assessment and payments, notwithstanding any statutory

provisions to the contrary.
Okla. Stat. tit. 62, § 62-34.88 — OK Code / Title 62 / Section 62-34.88
Education Reform Revolving Fund - Separate accounting
Status: in_force

for revenues - Use of funds - Tracking apportionment of revenue.

A. The Office of Accountability shall separately account for

and report monthly revenues which it determines accrued to the

Education Reform Revolving Fund which were attributable to the tax

increases contained in Enrolled House Bill No. 1017 of the 1st

Extraordinary Session of the 42nd Oklahoma Legislature.

B. Funds separately accounted for herein shall be used only to

fund the reforms provided for in Enrolled House Bill No. 1017 of the

1st Extraordinary Session of the 42nd Oklahoma Legislature and for

no other purpose. Any appropriation or expenditure of any of such

funds for any other purpose shall be null and void and of no effect.

C. The Office of Accountability shall track apportionment of

revenues which are deposited to the credit of the Education Reform

Revolving Fund of the State Treasury which are attributable to the

changes contained in Enrolled House Bill No. 1017 of the 1st

Extraordinary Session of the 42nd Oklahoma Legislature on a fiscal

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

of the House of Representatives and President Pro Tempore of the

Senate, within thirty (30) days after the end of the fiscal year.

Oklahoma Statutes - Title 62. Public Finance Page 123
Okla. Stat. tit. 62, § 62-34.11 — OK Code / Title 62 / Section 62-34.11
Duties and functions of Division of Central Accounting
Status: in_force

and Reporting.

The Division of Central Accounting and Reporting shall be

responsible for accounting and auditing duties and the auditing and

settlement of purchase orders, contracts, claims, payrolls, and

other obligations.

The Division of Central Accounting and Reporting shall prepare

uniform budget and accounting classifications for all state agencies

and shall implement appropriate accounting methods and systems in

state agencies. The Division of Central Accounting and Reporting

shall:

1. Settle all claims payable by this state;

2. Verify distribution of all taxes and other dues collected

for local governments;

3. Superintend the recovery of all debts due state government;

4. Keep the central budget and proprietary accounts of the

state government;

5. Prepare and issue financial and accounting reports, at least

quarterly;

6. Prescribe all forms, systems, and procedure for

administering accounting for the several departments and

establishments;

7. At the request of a state agency, assist in establishing

standards, policies and procedures that ensure a strong and

effective system of internal controls and regular monitoring of

them;

8. Certify each and every requisition by a duly accredited

disbursing officer for an advance of funds from the State Treasury

to the Director of the Office of Management and Enterprise Services

for approval; and

9. Establish a pre-audit system of settling claims for the

entire government of this state and for state agencies in which

vouchers supporting proposed payments are submitted to the Office of

Management and Enterprise Services for audit and settlement.
Okla. Stat. tit. 62, § 62-203 — OK Code / Title 62 / Section 62-203
Apportionment of monies to General Revenue Fund -
Status: in_force

Exceptions.

A. Except as otherwise provided by subsection B of this

section, all monies that may come into the State Treasury, pursuant

to the provisions of Section 201 et seq. of this title, together

with all amounts that may be received by the State Treasurer as

investment income or as interest on average daily bank balances,

including investment income or interest on deposits from funds

deposited to the credit of the Constitutional Reserve Fund created

pursuant to Section 23 of Article X of the Oklahoma Constitution,

shall be apportioned and credited to the General Revenue Fund for

the current year.

B. The provisions of subsection A of this section shall not

apply to:

1. Interest received on deposits from funds under the control

of the Commissioners of the Land Office;

2. Funds in the Department of Human Services Federal

Disallowance Fund;

3. Interest received on deposits from funds under the control

of the Santa Claus Commission;

4. The Risk Management Revolving Fund;

5. Investment income and interest received from funds in the

Quartz Mountain Revolving Fund from insurance claims;

6. The Drinking Water Treatment Revolving Loan Account and the

Drinking Water Treatment Loan Administrative Fund;

7. The Clean Water State Revolving Fund Loan Account and the

Clean Water State Revolving Fund Loan Administrative Fund;

8. The State Infrastructure Bank Revolving Fund;

9. The Nursing Facility Quality of Care Fund;

10. The Oklahoma Tourism and Recreation Department Revolving

Fund effective July 1, 2003;

11. The Golf Course Operations Revolving Fund effective July 1,

2003; and

12. Interest received on investments from funds in the County

Bridge and Road Improvement Fund, the Emergency and Transportation

Revolving Fund, the County Road Machinery and Equipment Revolving

Fund, the High Priority State Bridge Revolving Fund as created in

Section 506 of Title 69 of the Oklahoma Statutes, and the County

Improvements for Roads and Bridges Fund as created in Section 507 of

Title 69 of the Oklahoma Statutes.
Okla. Stat. tit. 62, § 62-541 — OK Code / Title 62 / Section 62-541
Investment in public bonds, warrants and securities -
Status: in_force

authority for investment in bonds of other municipal subdivisions or for more than par andCourt proceedings to procure authority for investment in bonds of

other municipal subdivisions or for more than par and accrued

interest.

The Treasurer of the State of Oklahoma, the county treasurer in

any county when authorized by the board of county commissioners, and

the lawful treasurer of any city, town or board of education, when

authorized so to do by the lawfully constituted governing body of

such city, town, or board of education may invest the sinking funds

in his custody in United States bonds, United States Treasury notes,

United States Treasury certificates or Postal Savings certificates,

to the payment of which the faith and credit of the United States is

pledged by the terms of such bonds, notes or certificates, or in

State bonds, Public Building Bonds, State Warrants or State Treasury

notes of the State of Oklahoma issued under authority of legislative

enactment, or in the bonds or judgments of courts of record of the

particular and specific municipality whose sinking funds are to be

invested, or in current warrants of his own registration, provided

Oklahoma Statutes - Title 62. Public Finance Page 449

the securities so purchased mature prior to the time the money so

invested is required by law to be on hand in cash for the purpose of

meeting the bonded indebtedness of the state or the municipal

subdivision thereof whose sinking funds are so invested, and

further, provided the bonds of the particular municipality whose

sinking funds are to be so invested or the current warrants of such

treasurer's own registration, can be purchased at not to exceed par

and accrued interest. If deemed advisable to invest the sinking

funds in the custody of the county treasurer, or in the custody of

the lawful treasurer of any city, town or board of education, in

lawfully issued county, city, town, township, board of education, or

dependent school district bonds issued by a municipal subdivision of

the State of Oklahoma, other than the one whose sinking fund is

proposed to be invested, or if deemed advisable to invest the

sinking fund of such municipal subdivision in its own bonds at the

market for more than par and accrued interest, then the county

treasurer or the lawful treasurer of such city, town, or board of

education, if authorized by the duly constituted governing board to

whom he is by law required to render account, either at his own

instigation or by the lawfully constituted attorney of such county,

city, town or board of education, may file a duplicate application

in writing in the district court, in which application he shall set

forth the full nature and description of the securities which he

proposed to purchase, together with the estimated value thereof, the

aggregate amount thereof and the proposed price of purchase; and he

shall further disclose in said application, the condition of the

sinking fund account so proposed to be invested, and the bond,

coupon and judgment indebtedness payable therefrom with maturities

and accruals scheduled in detail. Thereupon it shall be the duty of

the court clerk of such county to docket such application, without

cost, upon the appearance docket of such district court as other

civil actions; and it shall be the immediate duty of such court

clerk to transmit the duplicate application, schedules, and exhibits

to the district attorney who shall enter his appearance in such

instance on behalf of the public and who may, at the discretion of

the court, require such further information by detailed exhibits,

schedules or statistics as may seem advisable. Within three (3)

days after the filing of such application, the judge of such

district court shall enter an order setting such application for

hearing, and directing the court clerk to give such notice to the

public of such application and the date of hearing thereof as said

district judge may deem proper for the protection of the public and

the taxpayers of such county and/or the municipal subdivisions

thereof, and, if such notice be directed to be had by publication in

some newspaper named by the court, the expense thereof shall be

borne out of any appropriation for legal expense of such county,

city, town or board of education. It shall be the duty of the

Oklahoma Statutes - Title 62. Public Finance Page 450

district attorney to file in said proceedings, in writing, at the

date appointed for such hearing, a correct report setting forth the

opinion of such district attorney as to the soundness of such

investments and advisability thereof, the validity of such

securities, and particularly whether or not the municipality issuing

the same has a net bonded indebtedness in excess of five percent

(5%) of the netassessed valuation thereof as last certified by the

county assessor to its county excise board. Upon the date set for

such hearing, any taxpayer shall have the right to appear in person,

either with or without the aid of counsel, and make such protest or

objection to such investment as he may deem proper for the

protection of himself or the taxpayers of such county. Thereupon it

shall be the duty of the district judge, informally and in open

court to hear any and all evidence and protests, either in support

of or opposition to said proposed investment, and at the close of

such hearing, to enter an order with reference to such application

for investment as may be found and determined by the court for the

protection and best interest of the county or municipal subdivision

thereof whose sinking funds are proposed to be invested, and to the

best interest of the public and taxpayers thereof; and thereupon,

such district court may, by journal entry of judgment entered and

recorded in such proceedings, either authorize in whole or in part

that such investment be made, or deny such application.
Okla. Stat. tit. 62, § 62-57.308 — OK Code / Title 62 / Section 62-57.308
Maximizing college savings bond program
Status: in_force

Oklahoma Statutes - Title 62. Public Finance Page 286

It is the intent of the Oklahoma Legislature that an amount not

to exceed One Hundred Million Dollars ($100,000,000.00) of any issue

of bonds pursuant to this act should be structured so as to maximize

a college savings bond program to benefit Oklahoma families. For

this purpose, the Commission may authorize by a majority vote the

sale of college savings bonds at any discount. In no event shall

the purchaser of any bonds issued by the Commission receive any

fees, compensation or other remuneration in excess of four percent

(4%) of the price paid for such bonds by the purchaser of such bonds

from the Commission. The college savings bonds issued by the

Commission may be issued in amounts and denominations as may be

provided by resolution or indenture of the Commission to make such

college savings bonds available to all citizens of the state. The

Commission is directed to provide adequate statewide publicity of

the availability of such college savings bonds. The State Board of

Education and the Oklahoma State Regents for Higher Education shall

cooperate with the Commission to apprise parents of students in the

public schools of this state of the sale of such bonds.
Okla. Stat. tit. 62, § 62-57.129 — OK Code / Title 62 / Section 62-57.129
Advertisement and sale of bonds
Status: in_force

The Commission shall advertise the bonds for sale in the manner

hereinafter provided. Notice of such sale shall be published at

least once in each of two (2) consecutive weeks prior to the date

fixed for such sale in a newspaper having a general circulation in

the State of Oklahoma and at least once not less than twenty (20)

days prior to the date fixed for such sale in a financial periodical

or newspaper known to have general circulation among bond dealers

and bond purchasers. Such notice shall state the time and place

when and where the Commission will receive written bids for the

purchase of the bonds so offered for sale and shall also state that

the bonds will be sold to the bidder bidding the lowest interest

Oklahoma Statutes - Title 62. Public Finance Page 258

cost to the State of Oklahoma, such cost to be determined by

deducting the total amount of any premium bid from the aggregate

amount of interest on all of the bonds from their date until their

respective maturities, stating also, however, that the Commission

may, in its discretion, reject all bids submitted and readvertise

the bonds for sale. Such notice may contain such other conditions,

information and details as the Commission deems appropriate and

desirable to secure understanding of the offer and to assure maximum

competition between bidders. Upon acceptance of any bid (which

shall name the interest rate or rates, not exceeding six percent

(6%) per annum), the bonds shall be issued in accordance therewith

and shall be delivered to said purchaser upon payment of the

purchase price thereof, which shall be not less than par plus

accrued interest to date of delivery; provided, however, that no

tender of the bonds shall be valid until after the expiration of the

period of contestability provided for herein. All bidders shall be

required to submit with their bids such good faith deposit as may to

the Commission seem appropriate. Upon the acceptance of a bid, the

Commission shall return to all of the unsuccessful bidders the

deposits so made by them. All such deposits by the successful

bidder shall become the property of the State of Oklahoma, and shall

be credited upon the purchase price of the bonds so sold and with

the further agreement that, if the purchaser shall fail for five (5)

days after the tender of the bonds to pay the balance of the

purchase price, said sale shall be thereby annulled and the deposit

shall in such event be retained by the State of Oklahoma and

credited to the General Revenue Fund of the state.
Okla. Stat. tit. 62, § 62-34.10 — OK Code / Title 62 / Section 62-34.10
Annual comprehensive financial report — Accounting
Status: in_force

procedures and guidelines.

The Director of the Office of Management and Enterprise Services

shall cause to be prepared an annual comprehensive financial report,

in accordance with generally accepted accounting principles for

governments, and shall further have the general purpose financial

statements included in the annual comprehensive financial report

audited in accordance with generally accepted auditing standards.

The Director is hereby authorized to establish procedures and

guidelines which are consistent with those issued by the Government

Accounting Standards Board, and which shall be followed by state

agencies, colleges and universities and other entities who are

included in the report, for purposes of establishing consistent

Oklahoma Statutes - Title 62. Public Finance Page 34

application of accounting principles and to ensure the timeliness of

the report.
Okla. Stat. tit. 62, § 62-34.31 — OK Code / Title 62 / Section 62-34.31
Escrow of source code required for acquisition of
Status: in_force

customized computer software – Required escrow provisions.

A. No state agency, as defined by Section 250.3 of Title 75 of

the Oklahoma Statutes, the Purchasing Division of the Office of

Management and Enterprise Services nor the Information Services

Division of the Office of Management and Enterprise Services, unless

otherwise provided by federal law, shall enter into a contract for

the acquisition of customized computer software developed or

modified exclusively for the agency or the state, unless the vendor

agrees to place into escrow with an independent third party the

source code for the software and/or modifications.

B. The vendor must agree to place the source code for the

software and any upgrades supplied to an agency in escrow with a

third party acceptable to the agency and to enter into a customary

source code escrow agreement which includes a provision that

entitles the agency to receive everything held in escrow upon the

occurrence of any of the following:

1. A bona fide material default of the obligations of the

vendor under the agreement with the agency;

Oklahoma Statutes - Title 62. Public Finance Page 70

2. An assignment by the vendor for the benefit of its

creditors;

3. A failure by the vendor to pay, or an admission by the

vendor of its inability to pay, its debts as they mature;

4. The filing of a petition in bankruptcy by or against the

vendor when such petition is not dismissed within sixty (60) days of

the filing date;

5. The appointment of a receiver, liquidator or trustee

appointed for any substantial part of the vendor's property;

6. The inability or unwillingness of the vendor to provide the

maintenance and support services in accordance with the agreement

with the agency; or

7. The ceasing of a vendor of maintenance and support of the

software.

The fees of any third-party escrow agent subject to this section

shall be borne by the vendor.

C. The State Purchasing Director or a procurement officer of a

state agency shall not process any state agency request for the

customization, modernization, or development of computer software

unless the proposed vendor provides documentation that complies with

subsections A and B of this section.

D. The State Purchasing Director shall provide advice and

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

comply with the provisions of this section.

E. As used in this section:

1. "State agency" shall include all state agencies, whether

subject to The Oklahoma Central Purchasing Act or not, except the

Oklahoma Lottery Commission; and

2. "Source code" means the programming instruction for a

computer program in its original form, created by a programmer with

a text editor or a visual programming tool and saved in a file.
Okla. Stat. tit. 62, § 62-276.3 — OK Code / Title 62 / Section 62-276.3
Central Filing System Revolving Fund
Status: in_force

There is hereby created in the State Treasury a revolving fund

for the Office of the Secretary of State to be designated the

"Central Filing System Revolving Fund". The fund shall be a

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

consist of all fees generated by paragraphs 4 through 9 of

subsection A of Section 111 of Title 28 of the Oklahoma Statutes and

all penalties collected pursuant to subsection (9) of Section 1-9-

320.6 of Title 12A of the Oklahoma Statutes. All monies accruing to

the credit of this fund are hereby appropriated and may be budgeted

and expended by the Office of the Secretary of State for expenses

related to the central filing system created pursuant to Section 1-

9-320.6 of Title 12A of the Oklahoma Statutes. Expenditures from

this 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.
Okla. Stat. tit. 62, § 62-91.5 — OK Code / Title 62 / Section 62-91.5
Administrator and certifying agency – Powers and duties
Status: in_force

A. The State Treasurer is hereby authorized to administer the

Oklahoma Rural and Affordable Housing Linked Deposit Program. The

State Treasurer and the certifying agency shall be exempt from

Articles I and II of the Administrative Procedures Act when taking

actions pursuant to this act. The State Treasurer and the

certifying agency are authorized to issue guidelines in a manner

similar to the Administrative Procedures Act, Section 250.1 et seq.

of Title 75 of the Oklahoma Statutes.

B. The certifying agency will develop guidelines which, after

review and approval by the State Treasurer, will address maximum

possible participation amounts per each unit of single-family or

multifamily housing for land acquisition, site development, and

construction, as well as eligibility requirements as to sale or

rental price limitations and type of housing.

C. The State Treasurer shall submit an annual report outlining

the status of the Oklahoma Rural and Affordable Housing Linked

Deposit Program to the Governor, the Lieutenant Governor, the

President Pro Tempore of the Senate, and the Speaker of the House of

Representatives.

Oklahoma Statutes - Title 62. Public Finance Page 326
Okla. Stat. tit. 62, § 62-34.53 — OK Code / Title 62 / Section 62-34.53
State system of higher education and institutions of
Status: in_force

higher education.

A. 1. The Oklahoma State System of Higher Education,

established by Article XIII-A of the Oklahoma Constitution, shall

operate an allotment system similar to the procedure set out in the

Oklahoma State Finance Act for other agencies of the state except

that the Oklahoma State Regents for Higher Education shall be

substituted for the Director of the Office of Management and

Enterprise Services in connection with approving allotment requests

of the constituent institutions comprising The Oklahoma State System

of Higher Education.

2. The account classification for the State System of Higher

Education shall conform as nearly as possible with the

classification of accounts recommended by the National Committee on

Standard Reports for Institutions of Higher Education.

3. The Board of Regents shall allocate to each institution

under its control from the consolidated, or lump sum appropriation

made by the Legislature, an amount sufficient to meet the needs and

functions of each institution for the entire year.

4. The amount allocated to each institution for each fiscal

year in accordance with Article XIII-A of the Oklahoma Constitution,

shall be made in a lump sum without regard to uniform budget or

accounting classifications, but shall not be available for

expenditure until subsequently allotted by the Regents in accordance

with the uniform budget and accounting classifications recommended

by the National Committee on Standard Reports.

B. The Oklahoma State Regents for Higher Education may reduce

the allocation of funds which could otherwise be made to an

institution within The Oklahoma State System of Higher Education in

order to make payments for leases within the lease financing program

authorized by Section 3206.6a of Title 70 of the Oklahoma Statutes.

C. 1. The Regents, with the approval of the Director of the

Office of Management and Enterprise Services, may allot money to any

constituent institution to set up and operate a petty cash fund at

such institution. Such petty cash fund shall be reimbursed upon the

filing of claims showing the purposes for which the funds were

expended.

2. The Division of Central Accounting and Reporting shall make

cash allocations of revenue in accordance with Section 23 of Article

X of the Oklahoma Constitution, to each of the constituent

institutions. These cash allocations shall be based on the

allocations made by the Regents to each institution from the lump

sum legislative appropriations and such allocation shall be the

Oklahoma Statutes - Title 62. Public Finance Page 91

total appropriation for each institution, in lieu of legislative

appropriations.

3. After these funds have been allocated and allotted as

provided in this section, all institutional income shall operate as

a continuing nonfiscal appropriation which may be spent for any

educational and general purposes for which appropriated funds may be

spent. “Institutional income” for such purposes shall mean all

income available for educational and general purposes, as defined in

the uniform budget and accounting classifications recommended by the

National Committee on Standard Reports, and including income defined

by law as revolving fund income. Expenditures shall be limited to

the extent that obligations as they are incurred may not exceed the

unencumbered balance of cash on hand in accordance with Section 23

of Article X of the Oklahoma Constitution.

D. 1. At least thirty (30) days prior to the beginning of each

fiscal year, each of the constituent institutions shall file with

the Regents its request for appropriation allotments for each of the

purposes for which expenditures are to be made.

2. Such requests shall be broken down to conform to the uniform

budget or accounting classifications recommended by the National

Committee on Standard Reports.

3. Each institution’s request for appropriation allotments

shall show the amount required to finance each item of the request

for the entire year and for each quarter or each six-month period

within the fiscal year, as required by the Director of the Office of

Management and Enterprise Services.

E. The Regents, or the official or employee who has been

authorized to approve itemized allotment requests, shall consider

the allotment requests for the purpose of making a determination

whether:

1. The current financial requirements of the institution

concerned justify the allotment to be made;

2. The accounting classification is sufficient to reflect the

purpose for which expenditures are to be made and that such

classification is in accordance with the budget classifications

adopted by the Director of the Office of Management and Enterprise

Services and the Regents, which shall conform as nearly as possible

to the account classification recommended by the National Committee

on Standard Reports for Institutions of Higher Education; and

3. The realization of estimated revenues determined by the

Director of the Office of Management and Enterprise Services is

sufficient to allow the commitments to be made.

F. 1. In allotting appropriations and other funds, and

approving subsequent allotments which may be required by each

institution, the Regents shall follow the same general procedure set

forth in the Oklahoma State Finance Act for other agencies of the

Oklahoma Statutes - Title 62. Public Finance Page 92

state not under the control of the Regents, except as otherwise

provided in this section.

2. All forms and account classifications shall be mutually

agreed upon by the Director of the Office of Management and

Enterprise Services and the State Regents.

3. The Regents shall file approved requests of constituent

institutions with the Division of Central Accounting and Reporting

and such requests shall be entered on the records of the Office of

Management and Enterprise Services in the same manner as is provided

in the Oklahoma State Finance Act for other agencies of the state.

4. The State Regents and the Director of the Office of

Management and Enterprise Services shall approve any request from

the administrative head of a constituent institution for amendment

of the approved schedule of positions and salaries, or transfers

between items, so long as the currently approved allotment for such

purposes is not exceeded. Each such amendment shall be filed with

the Office of Management and Enterprise Services, in such detail as

may be required, prior to the date on which the first payroll or

other disbursement affected by such amendment or transfer is

submitted for payment.

G. 1. In the event that the realization of estimated revenues

at any time during the fiscal year indicates that the total revenue

for that fiscal year to any state fund will be insufficient at the

end of the fiscal year to meet the total appropriations from that

fund, the Director of the Office of Management and Enterprise

Services shall notify the Oklahoma State Regents for Higher

Education as to the amount of reduction necessary against the

consolidated, or lump sum appropriations, made to the Regents.

2. The Regents, in making itemized allotments during the fiscal

year, may reserve an amount sufficient to meet a reasonable failure

of revenue until receipt of notice from the Director of the Office

of Management and Enterprise Services that the realization of

estimated revenues indicates that the total appropriation may be

allotted for expenditure. Upon receipt of notice from the Director

of the Office of Management and Enterprise Services of a necessary

reduction in the consolidated, or lump sum appropriation, to meet a

failure in revenue, the Oklahoma State Regents for Higher Education

shall immediately take action to control the approval of subsequent

allotment requests sufficient to make the aggregate reduction in

allotments of all constituent institutions under their control equal

the amount of reduction ordered against the lump sum appropriation

made by the Legislature. Such reductions against the lump sum

appropriation shall not exceed the percentage reduction ordered

against other agencies of the state in accordance with Section 23 of

Article X of the Oklahoma Constitution.
Okla. Stat. tit. 62, § 62-91.4 — OK Code / Title 62 / Section 62-91.4
Dissemination of information about program
Status: in_force

The State Treasurer is hereby authorized to disseminate

information about the Oklahoma Rural and Affordable Housing Linked

Deposit Program to builders, developers and financial institutions

in this state.
Okla. Stat. tit. 62, § 62-34.96 — OK Code / Title 62 / Section 62-34.96
Legislative Oversight Committee on State Budget
Status: in_force

Performance.

A. There is hereby established the Legislative Oversight

Committee on State Budget Performance. The purposes of this

committee shall include oversight of the implementation of a system

of program performance-based budgeting for implementation by state

agencies.

B. The Committee's duties shall also include:

1. Development of agency budget request forms and instructions

in conjunction with the Office of Management and Enterprise

Services;

2. Directing studies to aid in the development of legislative

and procedural changes to further improve the budgetary, financial,

accounting, reporting, personnel, and purchasing processes and

systems of the state;

3. Direction of program evaluation and management studies;

4. Oversight and reporting on executive branch compliance with

the legislative intent of appropriation measures. Such oversight

and reporting duties may include:

a. agency reorganization actions,

b. executive orders calling for reduction of full-time-

equivalents or hiring freezes, and

c. transfer of funds by the executive branch;

Oklahoma Statutes - Title 62. Public Finance Page 128

5. The development of revenue and expenditure estimates and

analyses;

6. Study of the management, operations, programs and fiscal

needs of the agencies and institutions of Oklahoma state government

pursuant to the Oklahoma Program Performance Budgeting and

Accountability Act;

7. Review of the executive budget, agency strategic plans and

the estimate of needs of each state agency and institution. Reports

may be issued by the Committee as it deems appropriate; and

8. Implementation of an ongoing evaluation review procedure of

existing programs based on performance-informed budgeting techniques

pursuant to the Oklahoma Program Performance Budgeting and

Accountability Act. The committee in cooperation with the Office of

Management and Enterprise Services shall establish a schedule to

review strategic plans and existing programs for each agency a

minimum of once every four (4) years. The committee shall issue an

evaluation report for each agency once every four (4) years which

will include but not be limited to the following information:

a. a review of the agency's programs, performance and

management,

b. whether the agency has demonstrated that there is a

need for the services and programs which justifies the

agency's continued existence,

c. whether the agency is the most appropriate provider of

the programs and services furnished by the agency.

C. Any reference in the Oklahoma Statutes to the Joint

Legislative Committee on Budget and Program Oversight shall be a

reference to the Legislative Oversight Committee on State Budget

Performance.

D. The Committee shall be composed of three members appointed

by the President Pro Tempore of the Senate, three members appointed

by the Speaker of the House of Representatives, two members by the

minority leader of the Senate and two members appointed by the

minority leader of the House of Representatives. The Chair and Vice

Chair of the Committee shall rotate every two (2) years between the

Senate and the House of Representatives beginning with a Senate

member serving as Chair in 2003. The Committee shall meet at least

four (4) times per year and at other times as called by the Chair.

The Legislative Oversight Committee on State Budget Performance

shall function as a committee of the Legislature when the

Legislature is in session and is not in session. Each member of the

Committee shall serve until a successor is appointed. The duties of

the Committee may be performed by the Appropriations Committee of

the Senate and the Appropriations and Budget Committee of the House

of Representatives or subcommittees thereof.

E. The Committee shall be staffed jointly by the staff of the

fiscal divisions of the Senate and the House of Representatives.

Oklahoma Statutes - Title 62. Public Finance Page 129

F. The Committee may make use of all available teleconferencing

technology to facilitate meetings of the Committee when the

Legislature is not in session. The Committee shall take any

appropriate action to make such teleconferenced meetings comply with

the provisions of the Oklahoma Open Meeting Act, Section 301 et seq.

of Title 25 of the Oklahoma Statutes.

G. The Committee shall periodically meet in different

geographical regions of the state to enhance the

Committee's understanding of local conditions and to help

educate the public as to the fiscal condition of the state.
Okla. Stat. tit. 62, § 62-41.5m — OK Code / Title 62 / Section 62-41.5m
Renumbered as § 34.23 of this title by Laws 2009, c
Status: in_force

441, § 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-41.26 — OK Code / Title 62 / Section 62-41.26
Renumbered as § 34.68 of this title by Laws 2009, c
Status: in_force

441, § 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-57.82 — OK Code / Title 62 / Section 62-57.82
Agency for issue and sale - Institutional bonds of 1965
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, § 62-588 — OK Code / Title 62 / Section 62-588
Appointment of certain agents, etc. and depositories -
Status: in_force

Issuer as agent, etc.

Oklahoma Statutes - Title 62. Public Finance Page 463

A. An issuer may appoint for such term as may be agreed,

including for so long as a registered public obligation may be

outstanding, corporate or other authenticating agents, transfer

agents, registrars, paying or other agents and specify the terms of

their appointment, including their rights, their compensation and

duties, limits upon their liabilities and provision for their

payment of liquidated damages in the event of breach of certain of

the duties imposed, which liquidated damages may be made payable to

the issuer, the owner or a financial intermediary. None of such

agents need have an office or do business within this state.

B. An issuer may agree with custodian banks and financial

intermediaries, and nominees of any of them, in connection with the

establishment and maintenance by others of a central depository

system for the transfer or pledge of registered public obligations.

Any such custodian banks and financial intermediaries, and nominees,

may, if qualified and acting as fiduciaries, also serve as

authenticating agents, transfer agents, registrars, paying or other

agents of the issuer with respect to the same issue of registered

public obligations.

C. Nothing shall preclude the issuer from itself performing,

either alone or jointly with other issuers, any transfer,

registration, authentication, payment or other function described in

this section.

D. All paying agents on bond issues, after holding funds for

payment of principal or interest for a period of five (5) years from

their payment date and the bond or coupon has not been presented for

payment, shall immediately return said funds to the issuer of the

bonds to be used for any lawful purpose.
Okla. Stat. tit. 62, § 62-482 — OK Code / Title 62 / Section 62-482
Maturity of warrants - Right of action - Limitations
Status: in_force

From and after the passage of this act, without regard to the

time when funds may be collected and are available to pay the same,

any and all warrants issued in payment of obligations of counties,

townships, cities, towns and other municipal subdivisions or

corporations of this state, shall as to time of payment, become due

one (1) year after the close of the fiscal year for which the same

was issued, and action thereon may be commenced in any court of

competent jurisdiction to enforce the liability evidenced thereby.

Unless action be commenced by the filing of suit thereon and service

of summons by the aforesaid due date, the same shall be forever

thereafter barred, and it shall not be necessary that such lapse of

Oklahoma Statutes - Title 62. Public Finance Page 439

time be asserted as a defense in any such action in order that the

defendant be relieved of liability thereon.
Okla. Stat. tit. 62, § 62-757 — OK Code / Title 62 / Section 62-757
Moneys in escrow or trust account - Investment - Security
Status: in_force

- Sufficiency.

A. Moneys placed in any escrow or trust account shall not

necessarily be limited to proceeds of refunding bonds but may

include other moneys legally available for that purpose.

B. Any moneys in an escrow or trust account, pending use for

their intended purpose, may be invested or reinvested only in

federal securities.

C. The escrow agent shall continuously secure any moneys placed

in an escrow or trust account and not so invested or reinvested in

federal securities by a pledge of federal securities with a market

value determined on a daily basis at least equal to the total

uninvested moneys held in such escrow or trust account in strict

accordance with the provisions of the escrow agreement. The

requirements of this subsection shall not apply to any said

uninvested moneys insured by the Federal Deposit Insurance

Corporation.

D. Such moneys and investments in the escrow or trust account,

together with the interest or other gain to be derived from any such

investments, shall at all times be at least sufficient to make all

of the payments required to be made pursuant to the escrow agreement

in the manner and at the times specified in the escrow agreement.

The computations made in determining such sufficiency shall be

verified by a certified public accountant. Said computations shall

be certified within five (5) days prior to the delivery of and

payment for the refunded bonds.
Okla. Stat. tit. 62, § 62-278.1 — OK Code / Title 62 / Section 62-278.1
Creation - Composition - Expenditure of moneys
Status: in_force

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

known as the "Anti-Recession Fiscal Assistance Fund." Said fund

shall consist of all monies received by the state from entitlements

under Title II of the Public Works Employment Act of 1976 (Public

Law 94-369), including interest earned thereon as hereinafter

provided. No money on deposit with the State Treasurer to the

credit of the Anti-Recession Fiscal Assistance Fund shall be

expended except pursuant to legislative direction or appropriation.
Okla. Stat. tit. 62, § 62-45.3 — OK Code / Title 62 / Section 62-45.3
Agency strategic plan – Elements required – “Capital
Status: in_force

improvement” defined.

A. Each state agency shall make a strategic plan for its

operations. The first strategic plans will be due October 1, 2001,

and in each subsequent even-numbered year. Each state agency plan

shall cover five (5) fiscal years beginning with the next odd-

numbered fiscal year.

B. The Office of Management and Enterprise Services shall

determine the elements required to be included in each agency's

strategic plan. Unless modified by the Office of Management and

Enterprise Services, and except as provided by subsection C of this

section, a plan must include, but is not limited to, the following

items:

1. A statement of the mission and goals of the state agency;

2. A description of the indicators developed under this act and

used to measure the output and outcome of the agency and its

programs;

3. Identification of the groups of people served by the agency,

including those having service priorities, or other service measures

established by law, and estimates of changes in those groups

expected during the term of the plan;

4. An analysis of the use of the agency's resources to meet the

agency's mission, including future needs, and an estimate of

additional resources that may be necessary to achieve said mission;

5. An analysis of expected changes in the services provided by

the agency because of changes in state or federal law;

6. A description of the means and strategies, including cost-

containment strategies and efficiency proposals, for meeting the

agency's needs, including future needs, and achieving the goals for

each area of state government for which the agency provides

services;

7. A summary of the capital improvement needs of the agency

which were provided to the Long-Range Capital Planning Commission as

required by Section 901 of this title; and

8. Other information that may be required.

Oklahoma Statutes - Title 62. Public Finance Page 167

C. A state agency's plan that does not include an item

described by subsection B of this section must include the reason

the item does not apply to the agency.

D. Each state agency's plan shall be submitted at the same time

as the estimate of funds needed developed pursuant to Section 34.36

of this title.

E. A state agency shall send one copy of the plan each to:

1. The Governor;

2. The President Pro Tempore of the State Senate;

3. The Speaker of the House of Representatives;

4. The Legislative Oversight Committee on State Budget

Performance;

5. The Chair and Vice Chair of the Joint Committee on

Accountability in Government;

6. The Director of the Office of Management and Enterprise

Services; and

7. The State Auditor and Inspector.

F. In this section, "capital improvement" means any building or

infrastructure project that will be owned by the state and built

with direct appropriations or with the proceeds of state-issued

bonds or paid from revenue sources other than general revenue at a

cost of at least Twenty-five Thousand Dollars ($25,000.00) and has a

useful life of at least five (5) years.
Okla. Stat. tit. 62, § 62-2009 — OK Code / Title 62 / Section 62-2009
Filing of plan - Approval by governing board
Status: in_force

A. In order for an eligible entity to obtain funds provided for

by Section 2006 of this title, the entity shall file the

organizational plan required by Section 2008 of this title with the

Oklahoma Department of Commerce.

B. In order to be filed, the plan shall have first been

approved by an affirmative vote of two-thirds (2/3) of the governing

board of an entity described by subsection A or B of Section 2007 of

this title. The vote shall be memorialized in a document, executed

under oath, that the record of the vote is a true and accurate

account of the proceedings conducted by the governing board to be

filed with the Oklahoma Department of Commerce.
Okla. Stat. tit. 62, § 62-34.401 — OK Code / Title 62 / Section 62-34.401
Oklahoma Department of Mental Health and Substance
Status: in_force

Abuse Services — Agency budget review by OMES.

In addition to other duties imposed upon the Office of

Management and Enterprise Services (OMES) by law, the Director of

the Office of Management and Enterprise Services shall ensure that

the following procedures are strictly adhered to with respect to the

Oklahoma Department of Mental Health and Substance Abuse Services:

1. In accordance with paragraph 3 of subsection A of Section

34.6 of this title, prior to releasing the one-twelfth (1/12)

appropriations disbursement, OMES shall conduct a review of the

agency's budget to actuals to ensure the agency is staying within

budget constraints;

2. OMES shall provide a report to the Governor, the Speaker of

the Oklahoma House of Representatives, the President Pro Tempore of

the Oklahoma State Senate, and the chairs and vice-chairs of the

standing committees of the Oklahoma House of Representatives and the

Oklahoma State Senate having primary responsibility for the

consideration of agency appropriations concerning the status of

revenue and expenditures of the agency;

3. The Oklahoma Department of Mental Health and Substance Abuse

Services shall be prohibited from entering into contracts that do

not clearly state a maximum fiscal obligation;

4. OMES shall review encumbrances for any multi-year purchase

orders or contracts to ensure that only the anticipated amount of

funds for the current fiscal year are encumbered; and

Oklahoma Statutes - Title 62. Public Finance Page 145

5. OMES shall prohibit the processing of payments for non-

budgeted expenditures.
Okla. Stat. tit. 62, § 62-373 — OK Code / Title 62 / Section 62-373
Taxpayer may institute suit on failure of officers
Status: in_force

Upon the refusal, failure, or neglect of the proper officers of

the state or of any county, city, town, or school district, after

written demand signed, verified and served upon them by a number of

registered voters of the state or such county, city, town, or school

district equal to one hundred (100), or two and one-half percent (2

1/2%) of the registered voters living within the state or such

county, city, town or school district, whichever is less, to

institute or diligently prosecute proper proceedings at law or in

equity for the recovery of any money or property belonging to the

state, or such county, city, town, or school district, paid out or

transferred by any officer thereof in pursuance of any unauthorized,

unlawful, fraudulent, or void contract made, or attempted to be

Oklahoma Statutes - Title 62. Public Finance Page 407

made, by any of its officers for the state or any such county, city,

town, or school district, any resident taxpayer of the state or such

county, city, town, or school district affected by such payment or

transfer after serving the notice aforesaid and after giving

security for cost, may in the name of the State of Oklahoma as

plaintiff, institute and maintain any proper action which the proper

officers of the state, county, city, town, or school district might

institute and maintain for the recovery of such property; and the

state or such county, city, town or school district shall in such

event be made defendant. If a court of competent jurisdiction

determines the claims to be meritorious, the contract shall be

deemed void and the money or property, if previously transferred,

shall be returned to the state, county, city, town or school

district. The state, county, city, town or school district shall be

liable to the resident taxpayer or taxpayers for reasonable attorney

fees and court costs incurred in the prosecution of the action. If

all claims stated by the resident taxpayers in the written demand

are determined in a court of competent jurisdiction to be frivolous,

the resident taxpayers who signed such demand and who are parties to

the lawsuit in which such claims are determined to be frivolous

shall be jointly and severally liable for all reasonable attorney

fees and court costs incurred by any public officer or officers or

any other person alleged in such demand to have paid out,

transferred, or received any money or property belonging to the

state, or such county, city, town or school district in pursuance of

any alleged unauthorized, unlawful, fraudulent, or void claim paid

or contract or conveyance made, or attempted to be made, by such

officer or officers.
Okla. Stat. tit. 62, § 62-57.310 — OK Code / Title 62 / Section 62-57.310
Investment in bonds issued under act - Use as
Status: in_force

collateral security.

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

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 of this act. 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, § 62-879 — OK Code / Title 62 / Section 62-879
Levy of assessments – Apportionment - Payment into special
Status: in_force

fund.

A. The governing body of a municipality or county, subject to

the provisions of the Oklahoma Rural Housing Incentive District Act,

may levy assessments by and for the benefit of a taxing subdivision

on property located within such district, the revenue from which

shall be apportioned as follows:

1. From the assessments levied each year subject to the

provisions of the Oklahoma Rural Housing Incentive District Act by

or for each taxing subdivision upon property located within a

district constituting a separate taxing unit under the provisions of

the Oklahoma Rural Housing Incentive District Act, the county

treasurer first shall allocate and pay to each such taxing

subdivision all of the revenues collected which are produced from

that portion of the current assessed valuation of such real property

located within such separate taxing unit which is equal to the total

assessed value of such real property on the date of the

establishment of the district; and

Oklahoma Statutes - Title 62. Public Finance Page 577

2. Any revenues produced from that portion of the current

assessed valuation of real property within a district and

constituting a separate taxing unit under the provisions of this

section in excess of an amount equal to the total assessed value of

such real property on the effective date of the establishment of the

district shall be allocated and paid by the county treasurer to the

treasurer as follows:

a. in districts established by a municipality, the amount

shall be paid to the treasurer of the municipality and

deposited in a special fund of the municipality to pay

the cost of housing projects in the district including

the payment of principal of and interest on any

special obligation bonds issued by such municipality

to finance, in whole or in part, such housing project,

and

b. in districts established by a county, the amount shall

be deposited by the county treasurer in a special fund

of the county to pay the cost of housing projects in

the district including the payment of principal of and

interest on any special obligation bonds issued by

such county to finance, in whole or in part, such

housing project. If such special obligation bonds and

interest thereon have been paid before the completion

of a project, the municipality or county may continue

to use such moneys for any purpose authorized by the

Oklahoma Rural Housing Incentive District Act until

such time as the project is completed, but for not to

exceed fifteen (15) years from the date of the

establishment of the district.

When such special obligation bonds and interest thereon have

been paid and the project is completed, all moneys thereafter

received from real property taxes within such district shall be

allocated and paid to the respective taxing subdivisions in the same

manner as are other ad valorem taxes.

B. Notwithstanding any other provision of law, it is hereby

stated that it is an object of assessments levied by or for the

benefit of any taxing subdivision on taxable real property located

within any district created pursuant to the Oklahoma Rural Housing

Incentive District Act, that revenues therefrom may be applied and

allocated to and when collected paid into a special fund of a

municipality or county pursuant to the procedures and limitations of

the Oklahoma Rural Housing Incentive District Act to pay the cost of

a project including principal of and interest on special obligation

bonds issued by such municipality or county to finance, in whole or

in part, such project.
Okla. Stat. tit. 62, § 62-34.204 — OK Code / Title 62 / Section 62-34.204
Request for proposal to determine state applications
Status: in_force

and databases that can be transferred to a cloud-based storage

platform.

A. By December 31, 2022, the Director of the Office of

Management and Enterprise Services (OMES) shall initiate a request

for proposal for the rationalization and determination of which

state applications and databases can be immediately transferred to a

Oklahoma Statutes - Title 62. Public Finance Page 140

cloud-based data storage platform. The purpose of this request for

proposal is to give this state the ability to accurately evaluate

the cost and plans needed to implement modernization of the state’s

applications and databases. These applications and databases shall

be limited to customer relationship management tools, case

management tools, workflow tools and supplemental financial systems.

OMES is authorized to enter into a contract for such services,

pursuant to the provisions of law.

B. Notice of the request for proposal shall be published in the

manner provided for competitive bidding. The contract shall be

awarded to the responsible offeror whose proposal is determined to

achieve the desired goal of rationalization of technology for the

state.

C. The Director shall promulgate rules and establish procedures

to implement the request for proposal pursuant to the section.
Okla. Stat. tit. 62, § 62-7.2 — OK Code / Title 62 / Section 62-7.2
Renumbered as § 34.56 of this title by Laws 2009, c. 441,
Status: in_force

§ 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-348.4 — OK Code / Title 62 / Section 62-348.4
Securities lending program - Cities or counties which
Status: in_force

qualify - Collateral requirements.

A. As used in this section:

1. "Securities lending program" means any program, arrangement

or agreement whereby the city or the county deposits securities with

a trust company or a state or national bank for the purpose of such

institution lending such securities to a borrower approved by a city

treasurer or county treasurer in return for a fee or charge paid by

such borrower for the use of such securities; and

2. "Market value" shall mean on any date the average of the bid

and asked prices for such security for the business day preceding

the date on which such determination is made, in the principal

market on which such securities were traded or quoted in the Wall

Street Journal, plus any coupon interest accrued but not yet due and

owing at the date of determination.

B. The governing body of a city with a population of not less

than three hundred thousand (300,000) persons according to the

latest Federal Decennial Census or of a county with a population of

not less than four hundred thousand (400,000) persons according to

the latest Federal Decennial Census may authorize and direct the

city treasurer or county treasurer to enter into a securities

lending program with a trust company or a state or national bank

and to loan any securities held by such city or county pursuant to

any investment of the funds of the city or county in the investments

authorized by Section 348.1 or 348.3 of Title 62 of the Oklahoma

Statutes.

C. Any securities lending program entered into by the city

treasurer or county treasurer shall provide that the borrower shall

deposit with the securities lending institution, for the benefit of

the city or county, collateral consisting of cash or securities

insured by the United States government acceptable to the city

Oklahoma Statutes - Title 62. Public Finance Page 393

treasurer or county treasurer. The collateral shall have a market

value equal to one hundred percent (100%) of the principal amount of

any securities being loaned to such borrower and shall be revalued

and adjusted accordingly on each banking day.
Okla. Stat. tit. 62, § 62-57.132 — OK Code / Title 62 / Section 62-57.132
Certificate of Attorney General - Signatures and seals
Status: in_force

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 Building Bonds of 1968, Series

______, in the aggregate principal amount of _____, dated _____,

authorized and sold pursuant to Section 38, 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

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

Oklahoma Statutes - Title 62. Public Finance Page 260

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, § 62-365.4 — OK Code / Title 62 / Section 62-365.4
Levy invalidated - Revival by decree - Defense of levy
Status: in_force

by owner of judgment.

If an attempted levy for any judgment has once been invalidated

by final decree either by the Oklahoma Court of Tax Review, not

appealed from, or of the Supreme Court, by reason of jurisdictional

defeat, then such judgment shall not again be included in levy

computation until revived by decree from the court of original

jurisdiction; and provided further that, the owner and holder of

such judgment is hereby authorized to defend such judgment levy

before any court.
Okla. Stat. tit. 62, § 62-34.60 — OK Code / Title 62 / Section 62-34.60
Form and manner of issuing vouchers - Waiver
Status: in_force

The State Treasurer shall prescribe the forms and manner of

issuance of vouchers against agency clearing accounts and agency

special accounts in the State Treasury. All vouchers drawn against

agency clearing accounts and agency special accounts shall be signed

by an authorized person designated by the administrative authority

of the agency and countersigned by the principal fiscal officer of

the agency or another person specifically designated by the

administrative authority. Provided, the State Treasurer may waive

the counter signature requirement if an agency certifies that

controls are in place and will be followed to prevent the

unauthorized issuance of its vouchers and if the vouchers are

generated and signed by automated processes. Unless such waiver is

granted, no voucher shall be paid by the State Treasurer without

such signature and countersignature, if required.
Okla. Stat. tit. 62, § 62-34.42.1 — OK Code / Title 62 / Section 62-34.42.1
Annual disclosure of all federal funds under control
Status: in_force

of the entity.

A. Except as provided in subsection C of this section, all

agencies shall make an annual disclosure pursuant to a separate

written report and information available through a website

maintained by or on behalf of the entity of all federal funds under

the control of the entity and the programs for which the federal

funds are used by distinct expenditure categories and shall identify

the priority or rank of the federal funds in descending order with

the funding source the agency relies on to the greatest extent

listed first and the funding source the agency relies on to the

least extent listed last. The information required by this

subsection shall include, but shall not be limited to:

1. A description of any action required to be taken by the

state government entity as a condition for the receipt or continued

receipt of federal funds;

2. A description of any action prohibited to be taken by the

state government entity as a condition for the receipt or continued

receipt of federal funds;

3. A description of any action required to be taken by any

individual or lawfully recognized business entity or other entity as

a condition for the benefits purported to be conferred on the

individual or other legal entity as a result of the use of the

federal funds; and

4. A description of any action prohibited to be taken by any

individual or lawfully recognized business entity or other entity as

a condition for the benefits purported to be conferred on the

individual or other legal entity as a result of the use of the

federal funds.

B. Every entity subject to the requirements of this section

shall make an annual disclosure, either pursuant to a separate

written report, information available through a website maintained

by or on behalf of the entity or both, of the federal funds for

which the agency must incur costs to implement and shall provide

Oklahoma Statutes - Title 62. Public Finance Page 82

such information in descending order with the most costly federal

funds listed first and the least costly federal funds listed last.

C. Any agency receiving and administering federal funds that

require the receiving agency to maintain any level of security

clearance in order to administer those funds shall be exempt from

the provisions of this section.
Okla. Stat. tit. 62, § 62-448 — OK Code / Title 62 / Section 62-448
Tax for sinking fund - Cancellation when no deficit in
Status: in_force

fund.

If now or hereafter in any county, city, town, township, school

district or other municipal subdivision of the State of Oklahoma,

there exists no deficit in the sinking fund thereof, the governing

body of such municipality may by proper resolution recite such facts

and cancel all taxes thereof which are unpaid and which were levied

for the sinking fund of such municipality, for all fiscal years

previous to the one in which such resolution is passed. Such

resolution need be only in general terms reciting the rate of levy

and the year or years for which the same was levied and shall

thereupon be applicable to all taxes levied for that purpose for

that year or years which are unpaid.
Okla. Stat. tit. 62, § 62-422 — OK Code / Title 62 / Section 62-422
Authorization by governing body - Notice - Execution and
Status: in_force

attestation - Denominations - Place of payment - Recital as to

issuance under act.

Bonds issued under this act shall be authorized by resolution,

or ordinance, as the case may be, of the governing body of any

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

or other municipal corporation issuing such bonds. Notice of the

intention to authorize the issuance of such bonds shall be given by

one publication in a newspaper having a general circulation in said

municipality, and such notice shall briefly state the class of bonds

and interest to be refunded, the approximate amount, and the time

and place of the meeting at which said refunding will be authorized;

such notice shall be published not less than (10) ten nor more than

thirty (30) days prior to the date set therein for the

authorization. The resolution or ordinance authorizing the issuance

of such bonds may be adopted at the time designated in such notice,

or on the date set the governing body may adjourn to a later date

and such resolution or ordinance adopted at such adjourned meeting

without further notice. Bonds issued under this act, by any county,

shall be signed by the chairman of the board of county

commissioners, and attested by the county clerk, under the seal of

the county. Bonds issued by any city shall be signed by the mayor,

and attested by the city clerk, under the seal of the city. Bonds

issued by any towns shall be signed by the president of the board of

trustees, and attested by the town clerk, under the seal of the

town. Bonds issued by any township shall be signed by the trustee,

attested by the township clerk, and countersigned by the township

treasurer; provided, however, where any township has outstanding

indebtedness, which is sought to be refunded under this act, and

where such township form of government has been abolished, such

bonds shall be signed by the chairman of the board of county

commissioners of the county in which such township is located, who

shall sign and act in the place of the trustee or president of the

board of cirectors of such township, and shall be attested by the

county clerk, and countersigned by the county treasurer, acting and

signing in the place of the clerk or treasurer, respectively, of the

board of directors of such township. Bonds issued by the board of

education of any city or town shall be signed by the president, and

attested by the clerk of the board, under the seal of such board.

Bonds issued by any school district shall be signed by the director,

attested by the clerk, and countersigned by the treasurer of such

Oklahoma Statutes - Title 62. Public Finance Page 421

school district board. The interest coupons attached to said bonds

shall be executed by the lithographed facsimile signatures of the

officers designated to sign such bonds. Such bonds may be in any

denomination from One Hundred Dollars ($100.00) to One Thousand

Dollars ($1,000.00), and may be payable at such place as may be

designated upon the face thereof, and they shall contain a recital

that they are issued under this act.
Okla. Stat. tit. 62, § 62-891.6 — OK Code / Title 62 / Section 62-891.6
Bonds and other obligations
Status: in_force

A. No bonds or other obligations issued by the Authority

pursuant to the provisions of the Oklahoma Community Economic

Development Pooled Finance Act shall be considered or deemed to be

general obligations of the State of Oklahoma. Such bonds or other

obligations shall be special and limited obligations the repayment

of which shall be derived exclusively from the revenues accruing to

the credit of the Community Economic Development Pooled Finance

Revolving Fund created pursuant to Section 15 of this act.

B. The obligations issued by the Authority pursuant to this act

shall have a maximum maturity of twenty-five (25) years.

C. The average coupon rate for any obligations issued by the

Authority pursuant to this act shall not exceed fourteen percent

(14%) per annum.
Okla. Stat. tit. 62, § 62-34.21 — OK Code / Title 62 / Section 62-34.21
Authorization and requirements for obtaining, developing
Status: in_force

or enhancing communication or telecommunication systems -

Interagency contracts - Exception.

A. No agency of the executive branch of the state shall use

state funds for or enter into any agreement for the acquisition,

development or enhancement of a communication or telecommunication

system including voice, data, radio, video, Internet, eGovernment,

as referenced in Sections 34.24 and 34.25 of this title, printers,

scanners, copiers, facsimile systems and associated supplies,

service costs, maintenance costs, or any other costs or fees

associated with the acquisition of the system or equipment, without

written authorization of the Chief Information Officer or a

designee. The Chief Information Officer or a designee shall verify

that any acquisition, development or enhancement is compatible with

the operation of the Oklahoma Government Telecommunications Network.

B. No agency of the executive branch of the state shall enter

into any agreement for the acquisition, development or enhancement

of a communication or telecommunication system or service including

voice, data, radio, video, Internet, eGovernment, printers,

scanners, copiers, and facsimile systems, unless the cost of such

addition, change, improvement or development has been included in

the statewide communications plan of the Information Services

Division of the Office of Management and Enterprise Services, as

said plan may have been amended or revised.

C. State agencies may enter into interagency contracts to share

communications and telecommunications resources for mutually

beneficial purposes. The contract shall clearly state how its

purpose contributes to the development or enhancement or cost

reduction of a state network which includes voice, data, radio,

video, Internet, eGovernment, or facsimile systems. The contract

shall be approved by the Information Services Division before any

payments are made.

D. The provisions of subsections A, B and C of this section

shall not apply to the telecommunications network known as OneNet

whether said network is governed or operated by the Oklahoma State

Oklahoma Statutes - Title 62. Public Finance Page 58

Regents for Higher Education or any other state entity assigned

responsibility for OneNet.

E. No state agency shall use state funds or enter into any

agreement for the acquisition, development or enhancement of a

public safety communication system unless the request is consistent

with the Statewide Communications Interoperability Plan and the

public safety communications standards issued by the Oklahoma Office

of Homeland Security. Agencies interested in acquiring, developing

or enhancing a public safety communications system shall submit a

proposal to the Oklahoma Office of Homeland Security. The Oklahoma

Office of Homeland Security shall issue a proposal review which

summarizes whether the proposal is consistent with the Statewide

Communications Interoperability Plan and the technology standards

issued. The proposal review shall be submitted to the requesting

agency and to the Chief Information Officer.
Okla. Stat. tit. 62, § 62-34.100 — OK Code / Title 62 / Section 62-34.100
Disclosure of disbursement of federal stimulus funds
Status: in_force

The Office of Management and Enterprise Services shall maintain

a website providing public access to the documentation of the

disbursement by state agencies of federal funds received pursuant to

the federal American Recovery and Reinvestment Act of 2009. The

website shall provide a list of all stimulus fund expenditures

regardless of amount. The entire list of stimulus fund expenditures

shall be available for export in standardized formats including but

not limited to eXtensible Markup Language (XML) and Comma Separated

Value (CSV) formats. The list of expenditures shall include

searchable functionality including but not limited to the ability to

search the expenditures by the name of the entity receiving funding,

name of entity processing funding and name of entity benefiting from

funding. This site shall include the name and principal location of

the entity and/or recipients of the funds regardless of amount, the

amount of funds expended, the funding or expending agency, and a

descriptive purpose of the funding action or expenditure. The State

Auditor and Inspector shall not be responsible for maintaining the

website described in this section.
Okla. Stat. tit. 62, § 62-57.54 — OK Code / Title 62 / Section 62-57.54
Form and terms - Call and redemption - Negotiability -
Status: in_force

Tax exemption.

Bonds issued under this act shall be serial coupon bonds and

shall bear a rate of interest three and one-half percent (3 1/2%)

per annum. Said bonds and the interest thereon shall be payable at

the Office of the State Treasurer. Said bonds may be issued in one

or more series, may bear such date or dates, not earlier than July

15, 1965, shall mature as follows: Three Hundred Thousand Dollars

($300,000.00) on July 15, 1968, and Three Hundred Thousand Dollars

($300,000.00) on the 15th day of July of each year thereafter to and

including July 15, 1989, and Four Hundred Thousand Dollars

($400,000.00) July 15, 1990, with interest payable semiannually on

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

denominations, may provide for a reserve to assure prompt payment of

Oklahoma Statutes - Title 62. Public Finance Page 222

the principal and interest of the bonds, may be in such form either

coupon or registered, may carry such registration or conversion

privileges, may be executed in such manner, may be payable in such

medium or payment at such place or places, as may 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 be subject to call

and redemption, in inverse order of bond numbers, at par and accrued

interest, with the detailed provisions for such calling and

redemption thereof to be fixed by the Commission in the resolution

or resolutions for the issuance of such bonds. Until such time as

the State of Oklahoma Building Bonds of 1965 Sinking Fund shall be

sufficient to retire all outstanding bonds and interest coupons,

there shall be paid into said sinking fund during each fiscal year,

from the sources hereinabove pledged such amounts as may be

necessary to pay the interest and principal payable during the next

succeeding fiscal year, and an amount sufficient to satisfy the

reserve requirements as fixed and provided by the State of Oklahoma

Building Bonds Commission in its resolution authorizing the issuance

of said bonds. 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, § 62-883 — OK Code / Title 62 / Section 62-883
Purpose
Status: in_force

It is hereby declared to be the purpose of the Oklahoma Housing

Reinvestment Program Act to encourage reinvestment in housing in

those areas of this state for which a demonstrated need for housing

exists but is not met through existing public and private efforts by

authorizing local governmental entities to provide abatement of ad

valorem taxes during the first years after new or remodeled housing

construction.
Okla. Stat. tit. 62, § 62-41.10 — OK Code / Title 62 / Section 62-41.10
Renumbered as § 34.51 of this title by Laws 2009, c
Status: in_force

441, § 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-34.71 — OK Code / Title 62 / Section 62-34.71
Procedure to issue payment for goods and services
Status: in_force

The Director of the Office of Management and Enterprise Services

shall establish a procedure to issue payment of a proper invoice for

goods or services within no more than forty-five (45) days from the

date on which the invoice was received in the office designated by

the agency to which the goods or services were sold and delivered.
Okla. Stat. tit. 62, § 62-824 — OK Code / Title 62 / Section 62-824
Creation of regional districts – Issuance of bonds –
Status: in_force

Governmental entities of which comprised.

Regional Districts may be created pursuant to the provisions of

this act, to assist in financing economic development projects which

have a substantial regional economic impact, by allowing

municipalities and counties comprising such districts to issue bonds

in accordance with Section 35 of Article X of the Oklahoma

Constitution. Such districts may be comprised of:

1. Two or more municipalities;

2. Two or more counties; or

3. One or more municipalities and one or more counties.
Okla. Stat. tit. 62, § 62-869 — OK Code / Title 62 / Section 62-869
Powers conferred by act
Status: in_force

The powers conferred by this act shall be in addition and

supplemental to the power conferred by any other law.
Okla. Stat. tit. 62, § 62-842 — OK Code / Title 62 / Section 62-842
Eligibility for incentive payments
Status: in_force

A. An enterprise which locates its facility within an

enterprise zone or which expands its existing facility after the

designation of an enterprise zone as authorized by law and which is

located in an incentive district as authorized pursuant to the

provisions of the Local Development Act shall be eligible for the

state local enterprise matching payment authorized pursuant to

subsection A of Section 844 of this title.

B. 1. A local governmental entity which approves a project

plan pursuant to the provisions of the Local Development Act within

an enterprise zone or in support of a major tourism destination

project which the local governmental entity determines is likely to

significantly benefit contiguous or nearby enterprise zone census

tracts shall be eligible for the state local government matching

payment authorized pursuant to subsection D of Section 844 of this

title; provided, no state local government matching payment shall be

made for project costs in relation to:

a. any gambling establishment, or

b. any development within a project plan that provides

for more than fifty percent (50%) of the net leasable

space of such development to be used for retail

purposes except for such portions of a development

which includes grocery or specialty food store

enterprises defined under NAICS Manual Industry Group

No. 4451 or 4452 that provide healthy nutrition

options including fresh fruits, vegetables, whole

grains, seeds, nuts and healthy protein and that

improve access within one-half (1/2) mile of any low

income and low access geographies identified by the

United States Department of Agriculture.

State local government matching payments shall not be used to

supplant local revenue currently being expended within the increment

district boundaries.

2. In order to be eligible for state local government matching

payments for approving a project within an enterprise zone, a local

governmental entity shall provide to the Oklahoma Department of

Commerce as part of the application provided for in subsection J of

this section:

a. an estimate of incremental revenues likely to be

derived from the project, and

b. certification that all projects described within the

related project plan will generate, in the aggregate,

a minimum of either One Million Dollars

($1,000,000.00) in payroll, exclusive of payroll for

construction, or Five Million Dollars ($5,000,000.00)

in investment.

Oklahoma Statutes - Title 62. Public Finance Page 533

3. In order to be eligible for state local government matching

payments in support of a major tourism destination project, a local

governmental entity shall provide to the Oklahoma Department of

Commerce as part of the application provided for in subsection K of

this section:

a. an estimate of incremental revenues new to the state

likely to be derived from the project,

b. certification that the major tourism destination meets

the applicable criteria described in paragraph 12 of

Section 841 of this title, and

c. an agreement to provide payment to the Oklahoma

Department of Commerce to defray the costs of the

study required by paragraph 4 of this subsection.

4. To determine if a project qualifies as a major tourism

destination project pursuant to subparagraph b of paragraph 12 of

Section 841 of this title and to assist in other required

determinations, the Oklahoma Department of Commerce shall cause a

market and feasibility study to be conducted by an independent

consultant with experience in the conduct of such studies. Upon

review of the feasibility report, the Oklahoma Department of

Commerce shall make its finding as to the reasonable probability

that the proposed project is a major tourism destination project as

provided in subparagraph b of paragraph 12 of Section 841 of this

title.

C. For purposes of the Oklahoma Local Development and

Enterprise Zone Incentive Leverage Act, an enterprise engaged in a

retail activity, where otherwise prohibited by the Oklahoma

Enterprise Zone Act for purposes of the benefits and incentives

extended pursuant to the Oklahoma Enterprise Zone Act, shall be

considered an eligible enterprise for purposes of the state local

enterprise matching payment authorized by the Oklahoma Local

Development and Enterprise Zone Incentive Leverage Act.

D. The maximum amount of state local enterprise matching

payments for an enterprise per fiscal year shall not exceed Two

Hundred Thousand Dollars ($200,000.00).

E. Except as provided in subsection H of this section, for

purposes of the Oklahoma Local Development and Enterprise Zone

Incentive Leverage Act, the maximum amount of aggregate investment

in all qualifying facilities located in any single county which can

qualify for a state local enterprise matching payment pursuant to

subsection A of Section 844 of this title shall be computed for each

county of the state by multiplying Two Hundred Dollars ($200.00)

times the population of the county according to the most recent

estimate provided by the United States Bureau of the Census prior to

the date an application is made.

F. The computation required by subsection E of this section

shall be the maximum amount of aggregated investment qualifying for

Oklahoma Statutes - Title 62. Public Finance Page 534

the purposes of all enterprises for the duration of the Oklahoma

Local Development and Enterprise Zone Incentive Leverage Act.

G. The aggregate investment limit for all facilities located

within a county which may qualify for the state local enterprise

matching payments pursuant to subsection A of Section 844 of this

title shall:

1. Not be less than Twenty Million Dollars ($20,000,000.00) for

counties with a population less than one hundred thousand (100,000)

persons; and

2. Not be greater than Forty Million Dollars ($40,000,000.00)

for all other counties of the state.

H. The aggregate limit for all state local government matching

payments made to any public entity on behalf of any local

governmental entity within a single county pursuant to subsection D

of Section 844 of this title for the duration of the Oklahoma Local

Development and Enterprise Zone Incentive Leverage Act shall be an

amount equal to the net benefit rate multiplied by the taxable gross

sales derived from the project over the period of apportionment of

local sales taxes, as certified by the Secretary of Commerce.

I. The payments authorized by Section 844 of this title shall

be available for business and governmental entities qualifying

pursuant to the Local Development Act for investments made within an

incentive district or for improvements made within an increment

district prior to December 31, 2007, or for which an incentive

district or an increment district has been created prior to December

31, 2028, if the investments or improvements are begun not later

than December 31, 2029.

J. An enterprise or entity receiving payments authorized

pursuant to the provisions of Section 844 of this title shall

annually report to the Oklahoma Department of Commerce the

following:

1. All employment resulting from the project or facility

location or expansion, including payroll amounts;

2. Capital investment amounts resulting from the project or

facility location or expansion; and

3. Changes in the assessed value of property resulting from the

project or facility location or expansion.

The enterprise or entity shall also provide consent for the

Department to furnish the reported information to the Incentive

Evaluation Commission only for evaluation purposes by the Commission

or a designee. The information furnished to the Commission shall be

disaggregated and on a per project basis. The Department shall make

available on the Department website the information reported

pursuant to this subsection.

K. The Oklahoma Department of Commerce shall promulgate rules

for administration of the Oklahoma Local Development and Enterprise

Zone Incentive Leverage Act. Such rules shall:

Oklahoma Statutes - Title 62. Public Finance Page 535

1. Include a procedure for an enterprise or local governmental

entity to make application for state local enterprise and state

local government matching payments pursuant to this section;

2. Reflect the intent that the Oklahoma Local Development and

Enterprise Zone Incentive Leverage Act be fiscally neutral to the

state; and

3. Establish reporting requirements, including the requirements

provided in subsection J of this section, for successful applicants

which allow data collection and analysis by the Department on

employment, capital investment, changes in assessed value of a

project and other impacts resulting from payments and reporting of

such data by the Department to the Oklahoma Tax Commission for the

purposes of subsection B of Section 847 of this title.
Okla. Stat. tit. 62, § 62-57.188 — OK Code / Title 62 / Section 62-57.188
Appropriation
Status: in_force

There is hereby appropriated to the Oklahoma State Regents for

Higher Education from the proceeds of the sale of Series E Bonds, as

provided in Section 1 of this act, deposited in the State of

Oklahoma Building Bonds of 1968 Fund, the sum of Three Million Five

Hundred Thousand Dollars ($3,500,000.00).

It is the legislative intent that not to exceed Two Million Nine

Hundred Thousand Dollars ($2,900,000.00) of the amount appropriated

by this section be allocated to the Board of Regents of the

University of Oklahoma to be expended by the said Board of Regents

for the purchase of equipment for use in the University Hospital in

conjunction with the teaching and training of students of the

University of Oklahoma Medical Center; and that not to exceed Six

Hundred Thousand Dollars ($600,000.00) of the amount appropriated by

this section be allocated to the Board of Regents of the University

of Oklahoma for use in conjunction with the teaching and training of

students of the University of Oklahoma Medical Center as follows:

For expenditures in remodeling, modernizing and repairing space in

that part of the University Hospital known as "Old Main" for

clinical facilities for outpatient care and to provide not less than

ninety-six additional hospital beds.
Okla. Stat. tit. 62, § 62-34.50 — OK Code / Title 62 / Section 62-34.50
Revenues not derived from legislative appropriations
Status: in_force

A. All agencies of the state which are operating either

partially or entirely from revenues derived from sources other than

legislative appropriations or authorizations shall file requests for

allotments under the same provisions as are required for those

agencies that receive direct legislative appropriations which

distinctly specify the amount appropriated.

B. The Director of the Office of Management and Enterprise

Services shall approve such requests for allotments pursuant to the

language of the legislative appropriation and other applicable state

law, if the estimated revenues accruing to such fund are sufficient

to finance such allotments within the period for which the items are

approved, and if the account classification clearly shows the

purposes for which the money is to be expended. However,

obligations as they are incurred may not exceed the unencumbered

balance of surplus cash on hand in accordance with Section 23 of

Article X of the Oklahoma Constitution.

C. The Director of the Office of Management and Enterprise

Services may require a more detailed breakdown of accounts before

approving such requests.

D. This section shall apply to agencies receiving federal

funds, but shall not apply to donated funds, trust funds or funds of

an agency relationship.

Oklahoma Statutes - Title 62. Public Finance Page 88
Okla. Stat. tit. 62, § 62-365.5 — OK Code / Title 62 / Section 62-365.5
Manner of paying money judgments
Status: in_force

Money judgments against any county which, in counties with a

population in excess of six hundred thousand (600,000) persons,

hereby includes a jail trust created in Title 60 of the Oklahoma

Statutes whose sole beneficiary is the county, if approved by the

board of county commissioners or other municipal subdivisions of the

State of Oklahoma shall be paid in the following manner, and may be

Oklahoma Statutes - Title 62. Public Finance Page 403

paid in no other manner. No payment shall be made until such

judgment is first spread on the budget for levy as to the first

third thereof, and the levy or provision made therefor has become

final. Within thirty (30) days after the final determination of any

ad valorem tax protests as involve levy for judgments against the

county or any of its municipal subdivisions, or, if no protests be

filed, then after termination of the forty-day protest period, the

judgment creditor or attorney for the judgment creditor shall file

with the treasurer of such municipality a claim, in form as

prescribed by the State Auditor and Inspector, itemizing the

judgments to be paid, stating the principal sum thereof, any sums

paid thereon, and the balance due with interest computed on the

unpaid portion of the principal amount of each judgment. The

information required by the claim form shall be supplied by the

treasurer of the municipality or of the county, as the case may be.

Such treasurer shall thereupon canvass his or her sinking fund for

the purpose of ascertaining if there be in his or her sinking fund

for such municipality an amount of actual cash over and above the

amount of cash needed to pay all coupons and bonds matured and

maturing therein within the time such sinking fund will be

replenished from levies made or to be made for such judgment, or

judgments, he or she shall approve such claim in such amount as is

neither in excess of such claim nor in excess of the actual cash

reserve necessary for coupons and bonds as hereinbefore defined and

shall transmit it to the clerk of such municipality. For all

purposes of this act, the county clerk shall act for the county and

all townships and dependent school districts therein. Upon receipt

of such claim, the clerk shall audit the same against his or her own

records and, if found correct he or she shall approve the same and

return it to such treasurer, who shall pay the amount thereof out of

such sinking fund, to the clerk of the court out of which such

judgments issued. Upon receipt thereof such court clerk shall issue

his or her official receipt and deposit the funds in his or her

official depository account, and at the same time enter a credit in

each case involved in accordance with the claim previously made or

in ratio thereto; and thereafter, upon demand by the judgment

creditor or his or her assignee of record, he or she shall make

payment by his or her own official voucher in the same manner as in

other cases and credit the judgment roll of such judgment with the

amount of payment so made. No poundage or other fee shall be

charged or collected by the court clerk for monies received or paid

under the provisions of this act. If such claim can be only partly

paid, under this section, other claims shall be filed from time to

time thereafter, audited and paid in the same manner. No payment by

the court clerk shall be authorized to be made to the assignee of

any judgment unless such assignment, duly acknowledged, be first

entered of record in such case and on such judgment roll.

Oklahoma Statutes - Title 62. Public Finance Page 404
Okla. Stat. tit. 62, § 62-2201 — OK Code / Title 62 / Section 62-2201
Short title
Status: in_force

This act shall be known and may be cited as the “Oklahoma

Disaster Relief Act”.