Okla. Stat. tit. 62, § 62-891.14 — OK Code / Title 62 / Section 62-891.14
Submitting tax questions to county voters
Status: repealed

A. As used in this section:

1. “Authority” means the Oklahoma Development Finance

Authority;

2. “Eligible local government entity” means:

a. a city,

b. a town,

c. a county,

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

e. a public trust with a beneficiary or beneficiary which

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

entities as authorized by Section 176 of Title 60 of

the Oklahoma Statutes;

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

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

the effective date of this act;

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

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

derived from a levy imposed pursuant to the authority of Section

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

municipalities or county revenues, derived from a levy imposed

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

Oklahoma Statutes, based upon the local government entity

participating in a pooled financing.

B. Subject to the requirements of Section 1370 of Title 68 of

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

respective voters of each such county the question of whether to

impose a tax not previously imposed, authorized by Section 1370 of

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

Oklahoma Statutes - Title 62. Public Finance Page 595

repay indebtedness incurred by the Authority for the purposes

authorized by the Oklahoma Community Economic Development Pooled

Finance Act. The provisions of this subsection shall be applicable

to any one or more counties participating in a pooled financing,

regardless of whether any other county, subject to voter approval,

will be imposing a tax levy to be used for the purposes of this act

for the first time or whether any one or more of such counties,

subject to voter approval, will be modifying the purposes of an

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

this act.

C. Subject to the requirements of Section 1370 of Title 68 of

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

respective voters of each such county the question of whether to

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

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

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

repay indebtedness incurred by the Authority for the purposes

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

applicable to any one or more counties participating in a pooled

financing, regardless of whether any other county, subject to voter

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

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

counties, subject to voter approval, will be modifying the purposes

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

purposes of this act.

D. Counties may submit questions authorized by this section

regardless of whether the counties are contiguous or adjacent to one

another.

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

dedicated tax levy or the modification of an existing tax levy

pursuant to the provisions of this section shall specify the type of

tax levy and the rate of the levy in the question submitted which

shall be clearly identified by the wording of the ballot.

F. A county may impose a different tax levy or the same type of

levy at a different rate than the other counties or a different levy

or at a different rate than a participating municipality or

municipalities submitting a pooled financing question to the

respective voters of the participating jurisdictions.

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

submitted for voter approval and shall not exceed twenty-five (25)

years.

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

of this act shall clearly indicate:

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

payment of principal, interest and other costs of borrowing

authorized by the provisions of this act;

2. The duration of the obligations to be repaid; and

Oklahoma Statutes - Title 62. Public Finance Page 596

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

improved, maintained or otherwise used by the county as a result of

the imposition of the levy.

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

provisions of this section shall be paid by the county to the

Community Economic Development Pooled Finance Revolving Fund created

pursuant to Section 15 of this act.

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

section shall be repealed until such time as the indebtedness is

fully repaid. In no event shall the duration of the levy be

extended beyond the duration approved by the voters of the county.
Okla. Stat. tit. 62, § 62-542 — OK Code / Title 62 / Section 62-542
Sale of securities - Notice
Status: in_force

None of the invested securities authorized to be purchased

according to the foregoing section of this act shall be sold except

it be clearly for the best interest of a municipality whose sinking

funds are so invested or upon the event of an emergency not

contemplated by the statute authorizing such investment, it being

the intention of the legislature to authorize investment of sinking

fund monies only in securities that, in legal contemplation, will

mature and be paid prior to the time when the money so invested is

required by the constitution to be on hand in cash when the

obligations payable from such sinking fund shall mature. Therefore,

under no circumstances shall the treasurer of any county, city, town

or board of education be authorized to sell securities represented

by negotiable coupon bonds that have been invested in the sinking

fund of the same municipality that issued them and from which

sinking fund such bonds are payable when due; nor shall the

treasurer of any county, city, town or board of education be

authorized to sell any other bonds or securities in his custody

which have been purchased from sinking funds as described and set

forth in the first and foregoing section of this act, without

following the procedure hereinabove set forth for the investment of

Oklahoma Statutes - Title 62. Public Finance Page 451

such sinking funds in securities of municipalities other than those

issuing the same and it is hereby made the duty of such treasurer

when proposing to sell any such bonds or other securities, to file a

duplicate application as provided in the foregoing section for the

making of such investments and to attach or cause to be attached to

such application a certified copy of a resolution by his lawfully

constituted governing board setting forth specifically the reason

for such proposed sale being for the best interest of the

municipality or setting forth in detail the contingency creating an

emergency requiring the sale of such securities. Thereafter the

procedures and duties devolving upon the court clerk, district

attorney and district judge necessary to carry out such proceedings

with reference to the sale of such securities, shall be in all

respects the same as the proceedings before the district court as

set forth and provided by the first and foregoing section of this

act, with reference to the judicial authorization of the investment

of any sinking funds, before such treasurer is authorized to make

such sale of such securities.
Okla. Stat. tit. 62, § 62-801 — OK Code / Title 62 / Section 62-801
Legislative finding and declaration
Status: in_force

The Legislature hereby finds and declares that there is a need

to establish terms regarding the purposes for which bonds may be

issued under Section 35 of Article X of the Oklahoma Constitution

and terms under which such bonds may be sold and issued by

municipalities and counties for economic and community development,

which are hereby declared to be essential to the economic well-being

of the state.
Okla. Stat. tit. 62, § 62-544 — OK Code / Title 62 / Section 62-544
Apportionment of interest
Status: in_force

On or before the last day of each month the State Treasurer and

the treasurer of each county, city, town and board of education

shall apportion and place to the credit of the sinking fund or

sinking funds in his custody all interest earned and collected from

the investment of such sinking funds, as provided in the first and

foregoing section of this act; provided, that in counties, where

Oklahoma Statutes - Title 62. Public Finance Page 452

invested securities have heretofore been purchased for the joint use

and benefit of the several school districts and/or townships

thereof, the amount so credited to each such sinking fund account

shall bear the same ratio to the whole amount of interest so

collected, as the amount of such investment credited to the sinking

fund account of each such school district and/or township bears to

the total amount so invested, in which last event the apportionment

of such interest earnings shall be made immediately prior to the

30th day of June of each year.
Okla. Stat. tit. 62, § 62-57.59 — OK Code / Title 62 / Section 62-57.59
Approval of bonds by Supreme Court
Status: in_force

The Commission is authorized in its discretion to file an

application with the Supreme Court of Oklahoma for the approval of

any series of bonds to be issued hereunder, and exclusive original

jurisdiction is hereby conferred upon the Supreme Court to hear and

determine each such application. It shall be the duty of the court

to give such applications precedence over the other business of the

court and to consider and pass upon such applications and any

protests which may be filed thereto as speedily as possible. Notice

of the hearing on each application shall be given by notice

published in a newspaper of general circulation in the state that on

a day named the Commission will ask the court to hear its

application and approve the bonds. Such notice shall inform all

persons interested that they may file protests against the issuance

Oklahoma Statutes - Title 62. Public Finance Page 225

of the bonds and be present at the hearing and contest the legality

thereof. Such notice shall be published one time not less than ten

(10) days prior to the date named for the hearing and the hearing

may be adjourned from time to time in the discretion of the court.

If the court shall be satisfied that the bonds have been properly

authorized in accordance with this act and Section 34, Article X, of

the Constitution of Oklahoma, and that when issued they will

constitute valid obligations in accordance with their terms, the

court shall render its written opinion approving the bonds and shall

fix the time within which a petition for rehearing may be filed. The

decision of the court shall be a judicial determination of the

validity of the bonds, shall be conclusive as to the State of

Oklahoma, its officers, agents and instrumentalities, and thereafter

the bonds so approved and the revenues pledged to their payment

shall be incontestable in any court in the State of Oklahoma.
Okla. Stat. tit. 62, § 62-867.1 — OK Code / Title 62 / Section 62-867.1
Incentive or increment district creation – Dissolution –
Status: in_force

Annual revenue loss.

A. Within thirty (30) days after the creation of either an

incentive district or an increment district, the sponsoring

governmental entity shall notify the Oklahoma Tax Commission, upon

such form as the Commission shall prescribe, of the geographic area

where the district is located, a description of any locally

authorized tax incentives, such as property tax exemptions, sales

tax exemptions or for purposes of an increment district, whether

there is or will be indebtedness incurred the repayment of which

will partially or entirely be paid from incremental tax revenues

apportioned for such purpose.

B. If an incentive district or increment district is dissolved

or for any reason ceases to be operative, the sponsoring entity

shall notify the Oklahoma Tax Commission within thirty (30) days of

such dissolution or termination upon a form to be prescribed by the

Commission for such purpose.

C. The Oklahoma Tax Commission, in conjunction with the

Oklahoma Department of Commerce, shall make an estimate of the

annual revenue loss resulting from all matching payments to be made

pursuant to Section 844 of Title 62 of the Oklahoma Statutes.

Oklahoma Statutes - Title 62. Public Finance Page 567
Okla. Stat. tit. 62, § 62-41.5a-3 — OK Code / Title 62 / Section 62-41.5a-3
Renumbered as § 34.15 of this title by Laws 2009, c
Status: in_force

441, § 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-3110 — OK Code / Title 62 / Section 62-3110
Retirement bills having fiscal impact - Consideration
Status: in_force

following actuarial investigation - Procedure - Amendments.

Oklahoma Statutes - Title 62. Public Finance Page 668

A. When a retirement bill having a fiscal impact has had an

actuarial investigation pursuant to Section 3109 of this title, the

bill may be considered at the next regular session of the

Legislature. If the bill as originally introduced was not changed

by the committee and the original version was submitted to the

Legislative Actuary for an actuarial investigation, then the

original version of the bill is the only one, except as otherwise

provided by subsection B of this section, which may be considered by

the committee or by the House of Representatives or the Senate. If

the original bill was substituted by the committee and the

substitute version was the one submitted to the Legislative Actuary,

then that substitute bill is the only one, except as otherwise

provided by subsection B of this section, which may be considered by

the committee or by the House of Representatives or the Senate.

B. After completion of an actuarial investigation, any

amendment to a retirement bill having a fiscal impact shall be out

of order and shall not be allowed either by a committee or by the

House of Representatives or the Senate, except for a nonfiscal or a

reduction in cost amendment. Any amendment to a retirement bill

having a fiscal impact shall be submitted to the Legislative Actuary

by the chair of the committee, if a committee amendment, or by the

presiding officer of the Senate or the House of Representatives if

the amendment was made by the Senate or the House of

Representatives. If the Legislative Actuary certifies in writing

that the amendment is a nonfiscal amendment or if the amendment

results in a reduction in cost and the Legislative Actuary provides

an actuarial investigation as required in subsection A of Section 9

of this act, then the bill as amended, with the Legislative

Actuary’s certification or actuarial investigation attached to the

original of the amendment, may continue in the legislative process.

If the Legislative Actuary will not issue such a certification for

the amendment or if there is no actuarial study showing the reduced

cost of the amendment, the bill’s progress in the legislative

process will end, and the bill shall not be considered further by

either the House of Representatives or the Senate.

C. An amendment to a retirement bill having a fiscal impact

which is prohibited by subsection B of this section may be withdrawn

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

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

of Representatives, if that body made the amendment. If the

amendment is withdrawn, the bill may continue in the legislative

process as any other bill, unless it is subsequently amended, and,

in that event, this section shall apply to the subsequent amendment.
Okla. Stat. tit. 62, § 62-41.5a-4 — OK Code / Title 62 / Section 62-41.5a-4
Policies and procedures for destruction or disposal of
Status: in_force

electronic storage media - Notification of policies and procedures -

Removal of storage media - Funding.

A. The Information Services Division of the Office of

Management and Enterprise Services is authorized to:

1. Develop and publish a state policy and procedures for the

destruction or disposal of all electronic storage media to ensure

that all confidential information stored on such electronic media

devices is destroyed or disposed of in a secure and safe manner;

2. Define the requirements for the secure destruction or

disposal of electronic storage media; and

3. Assist in implementing the policy and procedures for the

destruction or disposal of state electronic storage media.

B. The Information Services Division of the Office of

Management and Enterprise Services shall notify all agencies,

boards, commissions and authorities of the policy and procedures for

the secure and safe destruction or disposal of electronic storage

media.

C. The Office of Management and Enterprise Services shall

remove all data from electronic storage media from all surplus

information technology and telecommunication equipment before it is

sold, donated, stored or destroyed. A state agency may remove

electronic storage media from their surplus information technology

and telecommunication equipment prior to sending the surplus to the

Office of Management and Enterprise Services, so long as the agency

has the technical expertise for removal and that the electronic

storage media is sent for destruction or disposal pursuant to this

subsection.

D. The Office of Management and Enterprise Services shall use

existing and future funds from the sale of state surplus equipment

and appropriations, as necessary, to pay for the destruction of

electronic storage media of equipment processed through the Office

of Management and Enterprise Services.
Okla. Stat. tit. 62, § 62-843 — OK Code / Title 62 / Section 62-843
Certification - Payment
Status: in_force

A. In order to receive the state local enterprise matching

payment pursuant to the provisions of subsection A of Section 844 of

this title, the enterprise shall obtain a certification, provided by

the governing body of the local governmental entity creating the

incentive district, acknowledged by the chief elected official of

the local governing body that the enterprise has qualified pursuant

to the Local Development Act for sales tax exemption. The

certification document shall include:

1. The beginning date of the exemption;

2. The ending date of the exemption;

3. The total amount of projected investment to construct or

expand the facility during the period for which the incentives

available pursuant to the Local Development Act will be in force and

effect together with a certification by the Oklahoma Department of

Commerce that the facility is located in an enterprise zone; and

4. The legal name and business entity classification of the

entity to which exemption is afforded or to which sales tax payment

is made by the local governmental entity or entities pursuant to the

provisions of the Local Development Act.

B. The local governing body shall provide a copy of the

certification document to the Oklahoma Tax Commission.

C. After the enterprise provides a certification from the local

governing body, the Tax Commission shall make payment to the

enterprise identified in the certification document equal to the

amount of the sales tax from which the enterprise is certified as

Oklahoma Statutes - Title 62. Public Finance Page 536

exempt as identified in the certification in the manner prescribed

by subsection A of Section 844 of this title.

D. The state local enterprise matching payment shall be made

only for sales tax foregone by local governmental entities or

rebated to the business enterprise by local entities for purchases

made by the business enterprise and not on the basis of any sales

tax collected by the business enterprise from consumers or users on

taxable sales made by the enterprise.

E. In order to receive the state local governmental matching

payment pursuant to the provisions of subsection D of Section 844 of

this title, the local governmental entity shall provide to the Tax

Commission a certification, acknowledged by its mayor or

chairperson, that such local governmental entity has created an

increment district pursuant to the Local Development Act which

qualifies for a state local government matching payment. The

certification document shall include:

1. The beginning date of the increment district;

2. The ending date of the increment district;

3. A description of the project costs authorized by the project

plan for which the state local government matching payments will be

used and the estimated date for substantial completion of the

project being assisted as described in the application;

4. A certification by the Oklahoma Department of Commerce that

the project plan is located in an enterprise zone or supports a

qualifying major tourism destination project, and that the

qualifying investment and development has been or will be

substantially completed no later than December 31, 2034;

5. The amount of the local sales taxes which have been

apportioned during the previous six-month period by the local

governmental entity for the payment of project costs pursuant to the

provisions of the Local Development Act; and

6. The name of the public entity identified in the project plan

pursuant to Section 858 of this title as the entity authorized to

carry out activities pursuant to the project plan.

After the local governmental entity provides such certification,

the Tax Commission shall make payment to the designated public

entity in an amount equal to the lesser of the certified amount of

the local sales taxes apportioned during the previous six (6) months

or the estimated net direct state benefits as prescribed by

subsection D of Section 844 of this title.
Okla. Stat. tit. 62, § 62-50.1 — OK Code / Title 62 / Section 62-50.1
Renumbered as § 2304 of this title by Laws 2001, c. 274,
Status: in_force

§ 12, emerg. eff. May 31, 2001.
Okla. Stat. tit. 62, § 62-57.10 — OK Code / Title 62 / Section 62-57.10
Delivery of bonds - Deposit and investment of proceeds
Status: in_force

The bonds and interest coupons attached thereto shall be

delivered to the purchaser thereof only upon payment of par and

accrued interest to the date of delivery thereof, together with any

premium bid, if any. The proceeds of the sale of said bonds shall

be deposited in the State Treasury of the State of Oklahoma, in a

fund which is hereby created and designated the "Building Bond

Fund", where they shall remain subject to disposition to be provided

for by the Legislature of Oklahoma, provided that the State

Treasurer of the State of Oklahoma shall invest said monies in

interest bearing direct obligations of the United States of America,

or of the State of Oklahoma, and provided further that, all such

investments of said monies must be so made that the same may be

liquidated in time to enable the State of Oklahoma to pay, in due

course, the valid indebtedness incurred for constructing, equipping,

remodeling and repairing buildings of the State of Oklahoma, when

Oklahoma Statutes - Title 62. Public Finance Page 201

said indebtedness has been incurred pursuant to legislative

authority.
Okla. Stat. tit. 62, § 62-695.9v1 — OK Code / Title 62 / Section 62-695.9v1
State and local governmental entities - Approval of
Status: in_force

issuance of obligations.

A. No State Governmental Entity or Local Governmental Entity

shall issue any State Governmental Entity Financing obligations

unless such obligations have been approved by the Council of Bond

Oversight as provided for in Section 695.8 of this title; provided,

however, that in no event shall the Council’s approval be required

for the issuance of any obligations pursuant to a remarketing or a

change in interest rate or maturity under the terms of indentures or

agreements securing obligations heretofore issued prior to July 1,

1987, or pursuant to the provisions of the Oklahoma Bond Oversight

and Reform Act. The provisions of this subsection shall apply to

any notes, bonds, revenue bonds, ratepayer-backed bonds, loans or

other appropriate form of evidence of indebtedness issued pursuant

to the February 2021 Unregulated Utility Consumer Protection Act and

the February 2021 Regulated Utility Consumer Protection Act.

B. 1. With respect to any State Governmental Entity Financing

proposed to be obtained through the issuance of its obligations, any

State Governmental Entity or Local Governmental Entity shall file

with the Council a written description of the nature, need and

purpose of such proposed financing. The Council shall review the

description of the proposed financing in order to either approve or

disapprove the purpose to be served by the issuance of the State

Governmental Entity obligations and for compliance with any

applicable provisions of federal, state or other laws.

2. With respect to bonds or indebtedness proposed to be issued

by the Oklahoma Development Finance Authority which will be enhanced

or supported pursuant to the Credit Enhancement Reserve Fund Act,

the Council shall review the description of such proposed financing

in accordance with paragraph 1 of this subsection and additionally

shall approve or disapprove the proposed financing on a

determination of sufficient compliance with the Rules Regarding the

Administration of the Credit Enhancement Reserve Fund as implemented

Oklahoma Statutes - Title 62. Public Finance Page 492

by the Oklahoma Development Finance Authority. Such determinations

by the Council shall be based on a written report prepared for and

provided to the Council by the Program Development and Credit Review

Committee as provided in Section 5062.6a of Title 74 of the Oklahoma

Statutes, provided the Council shall not be bound to follow the

conclusions reached by the committee in such reports. All orders

issued by the Council approving or disapproving bonds or

indebtedness enhanced or supported pursuant to the Credit

Enhancement Reserve Fund Act shall be final and shall not be subject

to any type of appeal.

3. Except as provided in paragraph 4 of this subsection,

approval provided for in paragraph 1 of this subsection shall expire

one hundred eighty (180) days after such approval. Provided, if

such approval expires, nothing shall prevent the State Governmental

Entity from refiling with the Council for approval of such financing

and, if granted, any one subsequent approval of such financing shall

be valid for a period, not to exceed one hundred eighty (180) days,

as determined by the Council.

4. Applicants having received approval, as provided for in

paragraph 1 of this subsection, may request and the Deputy Treasurer

for Debt Management may grant, at his or her discretion, a single

one-hundred-eighty-day extension. Any request for an extension must

be made at least five (5) business days prior to the expiration of

the original approval. Applicants failing to request an extension

in this manner may refile with the Council as provided for in

paragraph 3 of this subsection.

5. In the event there is a substantial change in the nature or

purpose of a proposed financing after approval by the Council, the

prior approval shall be void and the State Governmental Entity shall

be required to seek approval from the Council in the manner provided

in paragraph 1 of this subsection.

C. Local Governmental Entities, within ten (10) days following

the date funds become available to the issuer from the sale of any

obligation, shall file with the Council a copy of the official

statement or notice of sale and any other information concerning the

proposed financing required by the Council.

D. Upon the request of a Local Governmental Entity, the Deputy

Treasurer for Debt Management may provide advice and assistance to

the Local Governmental Entity with respect to the issuance of

obligations. The State Treasurer may assess reasonable fees for

such services.
Okla. Stat. tit. 62, § 62-513 — OK Code / Title 62 / Section 62-513
Deposits with federal instrumentalities
Status: in_force

The State Treasurer, and the treasurers of counties, school

districts, cities, towns, municipalities and any other political

subdivision of the state, and any other officer, board, department

or commission having custody, control and management of any public

or trust fund or funds charged with the safekeeping and deposit of

said funds or funds are hereby specifically authorized to deposit

said fund or funds in any federally-insured building and loan

association wherever located, whether federally or state chartered,

in an amount and to the extent that such deposit is fully insured by

the Federal Savings and Loan Insurance Corporation or any other

instrumentality of the United States Government. When any such

insured deposit is made it shall not be necessary for such

treasurer, officer, board, department or commission to require any

security, and such insurance shall be accepted in lieu of any

security, restriction or other limitation now required or imposed by

law upon the deposit of public funds.
Okla. Stat. tit. 62, § 62-255.5 — OK Code / Title 62 / Section 62-255.5
ARPA Administrative Costs Fund
Status: in_force

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

to be designated the "ARPA Administrative Costs Fund". Such fund

shall be subject to legislative appropriation or transfer as

provided by law and shall consist of all such monies as the

Legislature may direct to be appropriated or transferred to said

fund.

B. Notwithstanding any provision of law to the contrary, all

interest and income derived from deposits to the ARPA Administrative

Costs Fund shall be credited to the ARPA Administrative Costs Fund.

C. Any funds remaining in the ARPA Administrative Costs Fund as

of July 1, 2024, are hereby deemed obligated by the Oklahoma

Legislature for the purpose of funding administrative costs arising

from implementing, reporting, complying with, and closing out any

projects appropriated Statewide Recovery Funds in accordance with

legislation.
Okla. Stat. tit. 62, § 62-91.1 — OK Code / Title 62 / Section 62-91.1
Short title
Status: in_force

Sections 1 through 9 of this act shall be known and may be cited

as the "Oklahoma Rural and Affordable Housing Linked Deposit Act".
Okla. Stat. tit. 62, § 62-891.4 — OK Code / Title 62 / Section 62-891.4
Applicability of Oklahoma Development Finance Authority
Status: in_force

Act.

Unless otherwise provided by the terms, definitions or other

provisions of the Oklahoma Community Economic Development Pooled

Finance Act, the powers, rights, duties and limitations applicable

to the Oklahoma Development Finance Authority pursuant to the

provisions of the Oklahoma Development Finance Authority Act shall

be applicable to the Authority and transactions conducted pursuant

to the Oklahoma Community Economic Development Pooled Finance Act.
Okla. Stat. tit. 62, § 62-858 — OK Code / Title 62 / Section 62-858
Project plans - Amendments - Vote on project plan adopted
Status: in_force

by transportation authority.

A. The governing body shall cause to be prepared a project

plan. The appropriate local planning commission shall review the

proposed project plan and shall make a recommendation on the plan to

the governing body. The project plan shall include the following

Oklahoma Statutes - Title 62. Public Finance Page 551

items, if applicable, according to the type of district being

formed:

1. A description of the proposed boundaries of the district and

the proposed boundaries of the project area by legal description and

by street or other recognizable physical feature accompanied by a

sketch clearly delineating the area in detail;

2. A general description of the proposed public works or

improvements, the anticipated private investments and the estimated

public revenues which should accrue;

3. A list of estimated project costs including administrative

expenses;

4. A general description of the methods of financing the

estimated project costs, the expected sources of revenue to finance

or pay project costs, and the general time when the costs or

monetary obligations related thereto are to be incurred;

5. A map showing existing uses and conditions of real property

in the district and a map showing proposed improvements to and

proposed uses of that property;

6. Proposed changes in zoning;

7. Proposed changes in the master plan and city ordinances if

required to implement the project plan;

8. The name of the person who shall be in charge of the

implementation of all of the project plans of the district with such

name being forwarded to the Department of Commerce; and

9. A designation of any public entity to be authorized to carry

out all or any part of the project plan.

B. Before the governing body may approve such project plan,

notice must be given and public hearings must be held pursuant to

the provisions of Section 859 of this title. The approval by the

governing body must be by ordinance if a city or town or by

resolution if a county which contains findings that the plan is

feasible and conforms to the master plan, if any, of the city, town

or county.

C. Except as otherwise provided in this section, the planning

commission may recommend an amendment to a project plan, which

amendment shall be subject to review by the review committee and

approval by the governing body. Prior to the adoption of the

amendment, the governing body shall give notice concerning such

amendment and hold public hearings on such amendment in the manner

prescribed by Section 859 of this title. The approval by the

governing body must be by ordinance if a city or town or by

resolution of a county which contains findings that the plan is

feasible and conforms to the master plan, if any, of the city, town

or county.

D. The governing body may grant the department, agency or

public entity in charge of the implementation of the project plan

the authority to make minor amendments to the plan. An amendment is

Oklahoma Statutes - Title 62. Public Finance Page 552

considered to be minor if such amendment does not change the

character or purpose of the plan; does not add more than five

percent (5%) to the district's area; or does not add more than five

percent (5%) to the public costs of the plan to be financed by

apportioned tax increments. All amendments made pursuant to the

provisions of this subsection shall be considered on a cumulative

basis.

E. Approval by any ad valorem taxing entities, if required

pursuant to the provisions of Section 850 et seq. of this title,

shall be secured before any plan or amendment thereto goes into

effect.

F. Any project plan adopted by a transportation authority

pursuant to Section 1370.7 of Title 68 of the Oklahoma Statutes,

after having met the provisions of this section, shall be submitted

to a vote of the people within the boundaries of the authority,

pursuant to the provisions of subsections D through H of Section 868

of this title.
Okla. Stat. tit. 62, § 62-891.15 — OK Code / Title 62 / Section 62-891.15
Community Economic Development Pooled Finance Revolving
Status: in_force

Fund.

There is hereby created in the State Treasury a revolving fund

for the Oklahoma Development Finance Authority to be designated the

"Community Economic Development Pooled Finance Revolving Fund". The

fund shall be a continuing fund, not subject to fiscal year

limitations, and shall consist of all monies received by the

Oklahoma Development Finance Authority from revenues derived from

levies imposed by counties, cities, towns or combinations of such

local governmental entities as provided by this act in addition to

any withholding tax revenues as provided by Section 891.12 of this

title or Section 5 of this act. All monies accruing to the credit

of said fund are hereby appropriated and may be budgeted and

expended by the Oklahoma Development Finance Authority for the

purpose of paying principal, interest and other costs of borrowing

by the Authority as authorized by this act. Expenditures from said

fund shall be made upon warrants issued by the State Treasurer

against claims filed as prescribed by law with the Director of the

Office of Management and Enterprise Services for approval and

payment.
Okla. Stat. tit. 62, § 62-41.27 — OK Code / Title 62 / Section 62-41.27
Renumbered as § 34.84 of this title by Laws 2009, c
Status: in_force

441, § 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-310.4 — OK Code / Title 62 / Section 62-310.4
Unexpended balances of fiscal year available until
Status: in_force

September 30th - Notice to present claims.

All unencumbered balances, if any, as shown by the officer

charged with keeping the appropriation and expenditure records of

the county, city, or town on hand at the close of day June 30, may

remain as a credit for said fiscal year up to the close of day

September 30, next. Said officer charged with keeping the

appropriation and expenditure records of the county, city, or town

shall at any time during the month of July advertise in a newspaper

of general circulation in the county and shall cause to be published

for two (2) consecutive times if in a daily newspaper and once if in

a weekly newspaper, notice in the following form:

PUBLIC NOTICE

All persons having an indebtedness or claim against ________

_________________________________________________________________

County, City, or Town

are hereby notified that all invoices and documentation pertaining

to said purchase order or contract must be recorded in the office of

_____________ Clerk on or before September 30, 20___, covering all

debts now unpaid and incurred during the period beginning on July 1,

20___, and ending on June 30, 20___, or said account shall be void

and forever barred.

_____________________________________

Clerk or Encumbering Officer

Provided this act shall not be so construed to allow the incurring

of a new indebtedness after June 30 chargeable to the appropriation

account of the immediately preceding fiscal year.
Okla. Stat. tit. 62, § 62-901.1 — OK Code / Title 62 / Section 62-901.1
List of proposed projects
Status: in_force

A. The Long-Range Capital Planning Commission shall submit an

itemized list of the proposed projects set forth in its annual

capital plan to the Governor, the President Pro Tempore of the

Senate and the Speaker of the House of Representatives within the

first seven (7) legislative days of a regular legislative session.

The list shall be in the order of the priority of the projects as

determined by the Commission. The submission to such elected

officials shall occur upon the same date for purposes of computing

the time within which action must be taken as further prescribed by

this subsection. The Legislature shall have a period of forty-five

(45) calendar days from the date on which the list is submitted to

pass a concurrent resolution disapproving any or all of the proposed

projects. If the Legislature does not disapprove any proposed

project by concurrent resolution by the end of the forty-fifth day

following the date upon which the proposed issuance is submitted,

the proposed projects shall be deemed to have been approved by the

Legislature.

B. Upon approval of all or any part of the list of proposed

projects, the Office of Management and Enterprise Services may

expend funds in the Maintenance of State Buildings Revolving Fund

for approved projects in the order of priority set forth in its

annual capital plan.

C. In the event an emergency has been declared as provided for

in Section 130 of Title 61 of the Oklahoma Statutes, and as a result

thereof, repair or maintenance of a capital facility held by the

state is required, a state agency may submit a request to the

Director of the Office of Management and Enterprise Services to

substitute the emergency project for any other project or projects

of the state agency on the approved current fiscal year's Capital

Improvement Plan list, or to add the emergency project if the state

Oklahoma Statutes - Title 62. Public Finance Page 613

agency does not have any projects on the approved current fiscal

year's Capital Improvement Plan list; provided:

1. The Director determines that there are funds available in

the Maintenance of State Buildings Revolving Fund to cover all or

part of the cost of the emergency project; and

2. The Director submits information on the emergency project

and the cost thereof to the President Pro Tempore of the Senate and

the Speaker of the House of Representatives and they approve the

substitution within five (5) calendar days of such submission.

D. The Director has authority to redirect funds within the

Maintenance of State Buildings Revolving Fund for emergency projects

approved by the President Pro Tempore of the Senate and the Speaker

of the House of Representatives.
Okla. Stat. tit. 62, § 62-57.133 — OK Code / Title 62 / Section 62-57.133
Delivery of bonds upon payment - Deposit and investment
Status: in_force

of proceeds - Interest.

The bonds and interest coupons attached thereto shall be

delivered to the purchaser thereof only upon payment of par and

accrued interest to the date of delivery thereof, together with any

premium bid, if any. The proceeds of the sale of said bonds shall

be deposited in the State Treasury of the State of Oklahoma, in the

State of Oklahoma Building Bonds of 1968 Fund, where they shall

remain subject to disposition as provided for by the Legislature of

Oklahoma, provided that the State Treasurer of the State of

Oklahoma, when so directed by any agency to which a portion of such

fund has been appropriated as to the amount appropriated to such

agency, shall invest the amounts designated by such agency for the

period or periods of time specified by such agency in direct

obligations of the United States of America or in certificates of

deposits from banks in the State of Oklahoma acceptable as

depositories by the State Treasurer when such certificates of

deposits are secured by the acceptable collateral and yield as much

or more than direct obligations of the United States of America, and

provided further that all such investments of said monies must be so

made that the same shall mature in time to enable the State of

Oklahoma to issue warrants for payment of the valid indebtedness

incurred for the purpose for which said bonds are issued, when the

said indebtedness has been incurred pursuant to legislative

authority. It shall be the duty of each agency receiving an

appropriation to promptly certify to the State Treasurer the amount

of all sums not needed for payment of construction and other legal

expenditures payable from the fund to meet the construction payment

schedule, and upon receipt of such certification the State Treasurer

shall forthwith make the aforementioned investment. All interest

received by the State Treasurer upon the above-mentioned securities

after June 30, 1972, shall be deposited in the State of Oklahoma

Building Bonds of 1968 Sinking Fund. Any appropriations of such

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

for which the investment was made may be expended as provided

therein. Any unappropriated amounts of such deposited interest

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

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

transferred to the General Revenue Fund.
Okla. Stat. tit. 62, § 62-602 — OK Code / Title 62 / Section 62-602
Execution of public securities by facsimile signature -
Status: in_force

Effect.

Any authorized officer, after filing with the Secretary of State

his manual signature certified by him under oath, may execute or

cause to be executed with a facsimile signature in lieu of his

manual signature any public security, or any certificate thereon or

thereto.

Oklahoma Statutes - Title 62. Public Finance Page 465

Upon compliance with this act by the authorized officer, his

facsimile signature has the same legal effect as his manual

signature.
Okla. Stat. tit. 62, § 62-872 — OK Code / Title 62 / Section 62-872
Purpose of act
Status: in_force

It is hereby declared to be the purpose of the Oklahoma Rural

Housing Incentive District Act to encourage the development and

renovation of housing in the rural municipalities and counties of

Oklahoma by authorizing municipalities and counties to assist

directly in the financing of public improvements that will support

such housing in rural areas of Oklahoma which experience a shortage

of housing, pursuant to the provisions of subsection B of Section 6C

of Article X of the Oklahoma Constitution.
Okla. Stat. tit. 62, § 62-57.23 — OK Code / Title 62 / Section 62-57.23
Attorney General's certificate - Registration -
Status: in_force

Signatures and seals.

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

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

proceedings of the Commission and all resolutions passed and actions

taken by it in connection with the authorization, issuance and sale

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

to be constitutional and lawful, execute his certificate and file

the same of record in the office of the Secretary of State of the

State of Oklahoma, which said certificate shall read substantially

as follows: "I have examined all proceedings had in connection with

the issuance of the State of Oklahoma Building Bonds of 1955 in the

Oklahoma Statutes - Title 62. Public Finance Page 209

sold pursuant to Section 33, 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

the State of Oklahoma". Upon the filing of such certificate, bonds

issued pursuant to proceedings so examined by the Attorney General,

shall be incontestable for all purposes upon the expiration of

thirty (30) days from the date of such certificate, unless suit be

brought in the Supreme Court of Oklahoma prior to the expiration of

said period as provided herein.

A facsimile of such Attorney General's certificate shall appear

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

vested with exclusive jurisdiction over any litigation involving the

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

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

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

Constitution of Oklahoma. Such bonds shall also be registered by

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

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

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

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

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

exception of the Governor's signature on the bonds, may be facsimile

seals and signatures.
Okla. Stat. tit. 62, § 62-57.174 — OK Code / Title 62 / Section 62-57.174
Bids
Status: in_force

The State of Oklahoma Building Bonds Commission may reject all

bids for such bonds if, in the judgment of the Commission, the

interest rate bid is unfavorable and there is a substantial prospect

that a more favorable interest rate can be obtained at a later time,

in which event the Commission shall readvertize and reoffer such

bonds all in accordance with the provisions of Sections 57.121

through 57.136 of Title 62, Oklahoma Statutes.
Okla. Stat. tit. 62, § 62-821 — OK Code / Title 62 / Section 62-821
Short title
Status: in_force

This act shall be known and may be cited as the “Regional

Economic Development District Act”.
Okla. Stat. tit. 62, § 62-57.66 — OK Code / Title 62 / Section 62-57.66
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 definite 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, § 62-590 — OK Code / Title 62 / Section 62-590
Construction of act
Status: in_force

This act shall be construed in conjunction with the Uniform

Commercial Code and the principles of contract law relative to the

registration and transfer of obligations.
Okla. Stat. tit. 62, § 62-90.3 — OK Code / Title 62 / Section 62-90.3
Rural Economic Development Loan Program
Status: in_force

There is hereby created the Rural Economic Development Loan

Program. The Oklahoma Department of Agriculture, Food, and Forestry

shall administer the Program, under which reduced rate loans may be

made by participating financial institutions to finance qualified

economic development projects from the Rural Economic Development

Loan Revolving Fund created in Section 90.8 of this title. The

Department shall promulgate rules and take such other actions as may

be necessary to implement the Program and monitor compliance of

participating financial institutions and loan applicants and

recipients.
Okla. Stat. tit. 62, § 62-2203.6 — OK Code / Title 62 / Section 62-2203.6
Prices outside the ordinary channels of trade
Status: in_force

In establishing the cost of merchandise to the retailer or

wholesaler, the invoice cost of such disaster relief materials

purchased at a forced, bankrupt, closeout sale, or other sale

outside of the ordinary channels of trade, may not be used as a

basis for justifying a price lower than one based upon the

replacement cost of the merchandise to the retailer or wholesaler,

within thirty (30) days prior to the date of sale, in the quantity

last purchased through the ordinary channels of trade.
Okla. Stat. tit. 62, § 62-57.72 — OK Code / Title 62 / Section 62-57.72
Approval of bonds by Supreme Court
Status: in_force

The Commission is authorized in its discretion to file an

application with the Supreme Court of Oklahoma for the approval of

any series of bonds to be issued hereunder, and exclusive original

jurisdiction is hereby conferred upon the Supreme Court to hear and

determine each such application. It shall be the duty of the Court

to give such applications precedence over the other business of the

Court and to consider and pass upon such applications and any

protests which may be filed thereto as speedily as possible. Notice

of the hearing on each application shall be given by notice

published in a newspaper of general circulation in the state that on

a day named the Commission will ask the Court to hear its

application and approve the bonds. Such notice shall inform all

persons interested that they may file protests against the issuance

of the bonds and be present at the hearing and contest the legality

thereof. Such notice shall be published one time not less than ten

(10) days prior to the date named for the hearing and the hearing

may be adjourned from time to time in the discretion of the Court.

If the Court shall be satisfied that the bonds have been properly

authorized in accordance with this act and Section 37, Article X, of

the Constitution of Oklahoma, and that when issued they will

constitute valid obligations in accordance with their terms, the

Court shall render its written opinion approving the bonds and shall

fix the time within which a petition for rehearing may be filed. The

decision of the court shall be a judicial determination of the

validity of the bonds, shall be conclusive as to the State of

Oklahoma, its officers, agents and instrumentalities, and thereafter

the bonds so approved and the revenues pledged to their payment

shall be incontestable in any court in the State of Oklahoma.
Okla. Stat. tit. 62, § 62-34.85 — OK Code / Title 62 / Section 62-34.85
Interest on warrants issued under deficiency
Status: in_force

certificates.

The warrants issued under the authority of any deficiency

certificate shall bear interest at a rate to be fixed by the State

Treasurer not to exceed four percent (4%) per annum.
Okla. Stat. tit. 62, § 62-35.4 — OK Code / Title 62 / Section 62-35.4
Information technology assets - Approval of Chief
Status: in_force

Information Officer.

No state agency shall expend or encumber any funds for the

purchase, lease, lease-purchase, lease with option to purchase,

rental or other procurement of any information technology assets

Oklahoma Statutes - Title 62. Public Finance Page 148

without the prior written approval of the Chief Information Officer

except the following:

1. A purchase less than or equal to Five Thousand Dollars

($5,000.00) if such product is purchased using a state purchase card

and the product is listed on either the Approved Hardware or

Approved Software list located on the Office of Management and

Enterprise Services website; or

2. A purchase over Five Thousand Dollars ($5,000.00) and less

than or equal to Twenty-five Thousand Dollars ($25,000.00) if such

product is purchased using a state purchase card, the product is

listed on an information technology or telecommunications statewide

contract, and the product is listed on either the Approved Hardware

or Approved Software list located on the Office of Management and

Enterprise Services website.
Okla. Stat. tit. 62, § 62-57.64 — OK Code / Title 62 / Section 62-57.64
Form and terms - Call and redemption - Negotiability -
Status: in_force

Tax exemption.

Bonds issued under this act shall be serial coupon bonds. Said

bonds and the interest thereon shall be payable at such place or

places as may be designated by the State of Oklahoma Building Bonds

Commission. Said bonds shall be issued in series bearing such date

or dates, as set forth in Section 3 herein, and shall mature as

follows:

SERIES A SERIES B

7/15/68 $225,000.00

7/15/69 $300,000.00 $200,000.00

7/15/70 $300,000.00 $200,000.00

7/15/71 $500,000.00 $200,000.00

7/15/72 $500,000.00 $200,000.00

7/15/73 $500,000.00 $200,000.00

7/15/74 $500,000.00 $200,000.00

7/15/75 $500,000.00 $500,000.00

7/15/76 $500,000.00 $500,000.00

7/15/77 $500,000.00 $500,000.00

7/15/78 $800,000.00 $500,000.00

7/15/79 $800,000.00 $500,000.00

7/15/80 $800,000.00 $700,000.00

7/15/81 $800,000.00 $700,000.00

7/15/82 $800,000.00 $700,000.00

7/15/83 $800,000.00 $700,000.00

7/15/84 $800,000.00 $700,000.00

7/15/85 $800,000.00 $700,000.00

7/15/86 $800,000.00 $700,000.00

7/15/87 $800,000.00 $700,000.00

7/15/88 $800,000.00 $700,000.00

7/15/89 $800,000.00 $700,000.00

7/15/90 $1,500,000.00 $1,300,000.00

Said bonds shall have interest payable semi-annually 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

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 of 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

Oklahoma Statutes - Title 62. Public Finance Page 230

for the issuance of such bonds. Until such time as the State of

Oklahoma Institutional 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, § 62-57.2 — OK Code / Title 62 / Section 62-57.2
Agency of state - Intent and purpose of act
Status: in_force

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

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

Oklahoma may incur indebtedness to the extent of but not to exceed

the sum of Thirty-six Million Dollars ($36,000,000.00), for the

purpose of constructing, equipping, remodeling and repairing any and

all buildings of the state, including those of its educational,

recreational, penal and eleemosynary establishments, pursuant to and

by the authority of Section 31, Article X, of the Constitution of

Oklahoma and this act. It is declared to be the intent and purpose

of this act to vitalize said Section 31, and to invoke and exercise

the powers conferred upon the Legislature of Oklahoma thereby.
Okla. Stat. tit. 62, § 62-461 — OK Code / Title 62 / Section 62-461
Transfers authorized - Request for transfer - Approval -
Status: in_force

Notice.

If additional or supplemental needs exist in any department or

appropriation account of a county, school board of education or

municipal government as to any item or items of appropriation

therefor, that are immediately urgent, and there exists in any other

appropriation account or department of the government unexpended and

unencumbered balances of appropriations of less immediately urgent

need, the duly-constituted head of such department or officer in

charge of an account needing additional or

supplementalappropriations, shall make a written request for

transfer of appropriation balance or any portion thereof to the

governing body. The written request for transfer shall set forth

such additional or supplemental needs and the occasion for such

needs, together with detail of account items and the amount of each

item proposed to be canceled, and the written consent of the

department head or officer in charge of the account from which the

appropriation or any portion thereof is to be canceled. The

approval of the request for transfer by the governing body, without

other formality, shall effect cancellation of appropriations in the

items and amounts less urgently needed and increase in like total

sum to the appropriation accounts or department by items and amounts

for such immediately urgent needs. The clerk of the governing body

Oklahoma Statutes - Title 62. Public Finance Page 434

shall notify in writing the clerk of the county excise board of the

changes and shall also notify the treasurer and the head of each

department affected of the action, and they shall adjust their

accounts accordingly. In a municipality, or school board of

education, the actions and consent of the respective department

heads or officers provided in this section may be performed by the

governing body or by persons designated by the governing body.
Okla. Stat. tit. 62, § 62-34.11.1.2 — OK Code / Title 62 / Section 62-34.11.1.2
Oklahoma Employment Security Commission Information
Status: in_force

Technology Innovation Revolving Fund.

There is hereby created in the State Treasury a revolving fund

for the Office of Management and Enterprise Services to be

designated the “Oklahoma Employment Security Commission Information

Technology Innovation Revolving Fund”. The fund shall be a

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

consist of all monies appropriated to the revolving fund created

herein. All monies accruing to the credit of the fund are hereby

appropriated and may be budgeted and expended by the Office of

Management and Enterprise Services for the purpose of augmenting the

information technology infrastructure of the Oklahoma Employment

Security Commission. Expenditures from the fund shall be made upon

warrants issued by the State Treasurer against claims filed as

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

Enterprise Services for approval and payment.
Okla. Stat. tit. 62, § 62-41.9 — OK Code / Title 62 / Section 62-41.9
Renumbered as § 34.49 of this title by Laws 2009, c. 441,
Status: in_force

§ 64, eff. July 1, 2009.

Oklahoma Statutes - Title 62. Public Finance Page 162
Okla. Stat. tit. 62, § 62-57.300 — OK Code / Title 62 / Section 62-57.300
Short title
Status: in_force

Sections 1 through 15 of this act shall be known and may be

cited as the "Oklahoma Building Bond and College Savings Bond Act".
Okla. Stat. tit. 62, § 62-34.51 — OK Code / Title 62 / Section 62-34.51
Approval of requested allotments - Records - Claims for
Status: in_force

payment - New and increased allotments - Expenditure in subsequent

period.

A. If an allotment request is approved by the Director of the

Office of Management and Enterprise Services, it shall be

transmitted to the request officer of the agency concerned and to

the Division of Central Accounting and Reporting.

B. Legislative appropriations or authorizations are the legal

basis for expending the state's monies. Allotments shall be made

against these legislative appropriations or authorizations and shall

be entered on the records of the Division of Central Accounting and

Reporting in such accounts as may be required by the Director of the

Office of Management and Enterprise Services.

C. The allotments approved by the Director of the Office of

Management and Enterprise Services shall be the portion of the

appropriation set aside to cover encumbrances and expenditures for a

designated purpose during a monthly, quarterly, semiannual or annual

period.

D. The Division of Central Accounting and Reporting shall not

approve claims for payment in excess of the amount allotted for each

account approved by the Director of the Office of Management and

Enterprise Services.

E. After the first allotments for each agency of the state have

been authorized by the Director of the Office of Management and

Enterprise Services, subsequent allotments may be authorized upon

the request of an agency and with the approval of the Director of

the Office of Management and Enterprise Services.

F. The Director of the Office of Management and Enterprise

Services may authorize new accounts in addition to those requested

in the original allotment request, or may increase the amount

allotted for a monthly, quarterly, semiannual or annual period. A

balance remaining in any of the allotment accounts at the end of any

monthly, quarterly, or semi-annual period, shall be available for

expenditure the subsequent period; however, subsequent allotment

requests and the Director's approval should take into consideration

any unencumbered or unexpended balance remaining at the time such

subsequent requests are approved.
Okla. Stat. tit. 62, § 62-34.36.1 — OK Code / Title 62 / Section 62-34.36.1
Written report required
Status: in_force

A. Each state agency that is required to provide an itemized

budget request pursuant to the provisions of Section 34.36 of Title

62 of the Oklahoma Statutes shall provide to the Director of the

Office of Management and Enterprise Services a written report, in a

form approved by the Director, containing the following information:

1. The amount of federal funds received by the agency;

2. The source or sources of federal funds received by the

agency;

3. A description of any action required to be taken by the

agency as a condition for the receipt or continued receipt of

federal funds; and

4. A description of any action prohibited to be taken by the

agency as a condition for the receipt or continued receipt of

federal funds.

B. The report shall be submitted with the budget information

required by Section 34.36 of Title 62 of the Oklahoma Statutes by

the date required by that section.

C. The Director of the Office of Management and Enterprise

Services shall post the information contained in each agency’s

report on the website created pursuant to Section 46 of Title 62 of

the Oklahoma Statutes.
Okla. Stat. tit. 62, § 62-284 — OK Code / Title 62 / Section 62-284
Participation by creditor corporation in proceedings
Status: in_force

Any creditor corporation of this state is hereby permitted and

authorized to enter into contracts and plans with a debtor municipal

corporation to initiate and participate in proceedings provided by

the Bankruptcy Acts of the United States for the readjustment of

municipal debts, and to become bound thereby.
Okla. Stat. tit. 62, § 62-8015 — OK Code / Title 62 / Section 62-8015
Report of findings – Committee recommendations
Status: in_force

The Legislative Office of Fiscal Transparency shall prepare and

submit to the oversight committee a report of its findings for each

performance evaluation or independent comprehensive performance

audit conducted. Such reports shall be available to the public,

other than with respect to any information or material made

confidential by law. The oversight committee may make

recommendations to the agency evaluated, or to the Legislature and

the Governor, for further action as it deems necessary, and may

direct the Office to monitor and report on implementation of such

recommendations.
Okla. Stat. tit. 62, § 62-695.11 — OK Code / Title 62 / Section 62-695.11
Application of Oklahoma Central Purchasing Act - Review
Status: in_force

and approval of Deputy Treasurer for Debt Management.

The provisions of The Oklahoma Central Purchasing Act shall not

be applicable to any actions of a State Governmental Entity in

regard to the sale and issuance of its obligations, including any

contracts and undertakings relating thereto; however, such issuance,

contracts and undertakings shall be subject to the provisions of the

Oklahoma Bond Oversight and Reform Act regarding review or approval

of such matters by the Deputy Treasurer for Debt Management.
Okla. Stat. tit. 62, § 62-661 — OK Code / Title 62 / Section 62-661
Definitions
Status: in_force

Wherever used or referred to in this act, unless a different

meaning clearly appears from the context:

(a) "Trustees" means the trustees appointed by the governing

body of any municipality or the board of county commissioners to

carry out the provisions of this act, and as provided in 60

O.S.1951, Sections 176 - 180, inclusive, as amended by Sections 1

and 2, Chapter 4, Title 60, page 277, Oklahoma Session Laws 1953 (60

O.S. Supp. 1959, Sections 176 and 177), relating to public trusts.

(b) "Municipality" means any incorporated city or town.

(c) "Trustee" means the person or corporation appointed by the

trustees as trustee for the bondholders.
Okla. Stat. tit. 62, § 62-344 — OK Code / Title 62 / Section 62-344
Penalties - Delinquent assessments - Credited to funds
Status: in_force

All penalties hereafter collected and all penalties heretofore

collected, which may be identified, by any county treasurer of the

State of Oklahoma, on any delinquent assessments for any drainage

shall be paid and credited to the funds of such drainage district,

and shall be used only in the payment of the warrants or bonds and

the interest thereon, issued for the construction of the improvement

for which such assessments were made.
Okla. Stat. tit. 62, § 62-57.38 — OK Code / Title 62 / Section 62-57.38
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 1961 in the aggregate principal amount of Thirty-five Million

Five Hundred Thousand Dollars ($35,500,000.00) dated ,

authorized and sold pursuant to Section 34, 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". Upon the filing of such

certificate, bonds issued pursuant to proceedings so examined by the

Attorney General, shall be incontestable for all purposes upon the

expiration of thirty (30) days from the date of such certificate,

unless suit be brought in the Supreme Court of Oklahoma prior to the

expiration of said period as provided herein.

A facsimile of such Attorney General's certificate shall appear

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

vested with exclusive jurisdiction over any litigation involving the

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

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

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

Constitution of Oklahoma. Such bonds shall also be registered by

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

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

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

Oklahoma Statutes - Title 62. Public Finance Page 217

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, § 62-660 — OK Code / Title 62 / Section 62-660
Tax exemption
Status: in_force

Bonds issued under the provisions of this act shall be exempt

from all state, county, and municipal taxes. This exemption

includes income and inheritance taxes.
Okla. Stat. tit. 62, § 62-173 — OK Code / Title 62 / Section 62-173
Appropriations not part of revolving fund unless so
Status: in_force

provided.

No appropriation by the Legislature for the use of any state

institution shall go into or become a part of any revolving fund

unless specifically so provided in the act making such

appropriation.
Okla. Stat. tit. 62, § 62-310.6 — OK Code / Title 62 / Section 62-310.6
Rules and regulations
Status: in_force

For the purpose of carrying into effect the provisions of this

act and for its proper administration, the State Auditor and

Inspector is hereby empowered to promulgate and enforce such rules

and regulations as may be necessary but not inconsistent herewith,

and he shall prescribe all forms of records, required under the

provisions hereof.
Okla. Stat. tit. 62, § 62-826 — OK Code / Title 62 / Section 62-826
Approval or rejection by Governor of Final Project Plan –
Status: in_force

Election proclamation.

A. After receipt and review of the Final Project Plan, the

Governor shall either approve the Final Project Plan and the terms

and conditions contained therein, or the Governor shall reject the

plan and return it to the Oklahoma Department of Commerce along with

any revisions which the Governor may deem appropriate. If returned

to the Department, the Department will revise the plan and resubmit

the plan to the Governor.

B. Once the Final Project Plan is approved by the Governor, the

Governor shall then issue an election proclamation calling for an

election to be held within each of the municipalities and counties

listed in the Final Project Plan. The election proclamation shall

set a date on which elections shall be held within each of the

listed municipalities and counties. The elections shall be

conducted by the appropriate county election board or boards

pursuant to the general election laws of the state, but shall be

coordinated by the State Election Board under such procedures as it

may, by rule, prescribe. Notice of the election shall be given by

the mayor of each municipality or by the county commissioners of

each county, by advertisement weekly for at least four times in a

newspaper of general circulation in said municipality or county,

with the last publication to be not less than ten (10) days prior to

the date of the elections. All costs associated with the holding of

such elections shall be paid for by the Department, and no municipal

or county funds shall be used; provided, however, that the Governor

is authorized to accept donations from private parties for the

purpose of defraying all or a portion of the costs associated with

the holding of such elections.

C. The State Election Board shall certify the results of such

elections and shall forward the same to the Governor.
Okla. Stat. tit. 62, § 62-34.47 — OK Code / Title 62 / Section 62-34.47
Allocation of revenues - Capital expenditures -
Status: in_force

Nonfiscal appropriations - Public Building Fund.

A. The Division of Central Accounting and Reporting shall

allocate all revenues to the credit of any fund in the State

Treasury except the Public Building Fund, in accordance with the

provisions of Section 23 of Article X of the Oklahoma Constitution.

B. The Director of the Office of Management and Enterprise

Services may require that appropriations for capital expenditures be

financed by a separate cash account so that allocations of cash to

any agency for purposes of constructing buildings, making

improvements, purchasing equipment, or other capital expenditures,

may not be used to finance the current operations of the agency.

C. Appropriations which are nonfiscal for contractual and

expenditure purposes, shall be considered fiscal for revenue

purposes, but may be allotted for expenditure at any time within

thirty (30) months from date such acts are enacted. Revenue which

accrues to the credit of the Public Building Fund in the State

Treasury shall be allocated to the appropriations from the Public

Building Fund in consecutive order. The Governor shall designate

the order of payment of the appropriations from the Public Building

Fund. The Director of the Office of Management and Enterprise

Services shall allocate the collections sufficient to pay the first

appropriation designated by the Governor, before the Director

allocates any amount to the second and so on, until all

appropriations are provided for. The contracting agency receiving

such appropriation shall not contract the same until revenue has

been allocated as provided in the Oklahoma State Finance Act.
Okla. Stat. tit. 62, § 62-34.70.1 — OK Code / Title 62 / Section 62-34.70.1
Unlawful payroll deductions for membership dues -
Status: in_force

Definitions.

A. It shall be unlawful for any state agency to make payroll

deductions on behalf of a state employee for membership dues in any

public employee association or organization or professional

organization that on or after November 1, 2015, collectively

bargains on behalf of its membership pursuant to any provision of

federal law.

B. For purposes of this section:

1. "State agency" means any office, officer, bureau, board,

counsel, court, commission, institution, unit, division, body or

house of the executive or judicial branches of the state government,

whether elected or appointed, excluding political subdivisions of

the state. State agency shall include public school districts, the

Oklahoma State Regents for Higher Education, the institutions,

centers, or other constituent agencies of The Oklahoma State System

of Higher Education, the State Board of Career and Technology

Education, technology center school districts, the State

Legislature, and the Office of the Governor; and

2. "Public employee" means an elected or appointed officer or

employee or contract employee of a state agency as defined in this

section, unless otherwise indicated.
Okla. Stat. tit. 62, § 62-34.74 — OK Code / Title 62 / Section 62-34.74
Grievance - Remedy
Status: in_force

Any vendor of goods or services purchased by or delivered to an

agency of the state whose payment is delayed beyond the forty-five-

day limit and who has not been compensated by payment of interest as

provided for in the Oklahoma State Finance Act may file a grievance

with the Office of the Governor, who shall transmit it to the

Director of the Office of Management and Enterprise Services. Upon

receipt of such grievance, the Director shall pay the total amount

of such invoice with interest as required, within fifteen (15) days,

to remedy such grievance. If the Director determines that the

invoice or interest should not be paid, such determination and the

reasons therefor shall be reported to the Governor and the aggrieved

vendor.
Okla. Stat. tit. 62, § 62-41.29g — OK Code / Title 62 / Section 62-41.29g
Renumbered as § 34.94 of this title by Laws 2009, c
Status: in_force

441, § 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-34.11.5 — OK Code / Title 62 / Section 62-34.11.5
Oklahoma State Government Geographic Information One-
Status: in_force

Stop Initiative.

A. There is hereby established the “Oklahoma State Government

Geographic Information One-Stop Initiative”.

B. The State Geographic Information Coordinator shall develop

and maintain an online web presence at the web address

“maps.ok.gov”. The site shall allow public access to geodata

described in this section.

C. The State Geographic Information Coordinator shall

promulgate procedures by which each state agency, board, commission

and public trust having the State of Oklahoma as a beneficiary shall

submit geodata to the Office of Geographic Information to be

published on the “maps.ok.gov” website.

D. For the purposes of this section, the term “geodata” shall

mean information which can be presented as a component of a

geographic or spatial presentation.

E. State agencies, boards, commissions and public trusts having

the State of Oklahoma as a beneficiary shall comply with procedures

promulgated pursuant to the terms of this section.
Okla. Stat. tit. 62, § 62-34.69 — OK Code / Title 62 / Section 62-34.69
Payroll Fund – Web-based access to employment and
Status: in_force

compensation information.

There is hereby created in the State Treasury a Payroll Fund

which shall be used by the Director of the Office of Management and

Oklahoma Statutes - Title 62. Public Finance Page 109

Enterprise Services and the State Treasurer to issue a consolidated

payroll for each agency of the state. Payrolls of state agencies

shall be charged against the Payroll Fund created herein. Each

state agency shall prepare summary distributions of the amounts of

payrolls to be charged against each fund within the State Treasury

and the Director shall transfer monies from each fund in the State

Treasury to the Payroll Fund amounts as shown on payroll

distribution summaries, and shall charge such amounts to the account

affected thereby.

B. As of July 1, 2010, the Office of Management and Enterprise

Services shall make available and each executive state agency shall

make available to all state employees a centralized web-based system

to access their personal employment and compensation-related

information. The provisions of this subsection as it pertains to

executive agencies may be waived by the Director of the Office of

Management and Enterprise Services in the event that lack of timely

access prevents employees from utilizing the centralized system. As

used in subsections B, C and D of this section, "executive state

agency" shall mean any state agency, authority, board, commission or

other entity organized within the executive department of state

government. Executive state agency shall not mean any government

entity organized or created within the legislative or judicial

departments of state government.

C. Except for institutions within The Oklahoma State System for

Higher Education, executive state agencies converting to a multi-

monthly payroll system shall consult with the Office of Management

and Enterprise Services on the timing of the agency's conversion.

1. All state employees hired during the six (6) months prior to

an executive state agency's conversion to a multi-monthly payroll

shall be placed on either the biweekly payroll system or

supplemental payroll upon the date of hire.

2. In the six (6) months prior to an executive state agency's

conversion to multi-monthly payroll, the executive state agency

shall offer either multi-monthly or supplemental payroll to any

employee who chooses to participate. The provisions of this

paragraph shall not apply to employees placed on the multi-monthly

payroll pursuant to paragraph 1 of this subsection.

D. Six (6) months prior to an executive state agency converting

to the multi-monthly payroll system, it shall create employee

payroll conversion banks for the purpose of providing a one-time

payroll payment to an employee for the gap in payroll payments

created by the conversion to the multi-monthly system.

1. Each executive state agency shall allow its employees to

accumulate funds up to a maximum of eighty (80) hours for the

conversion bank from the following sources:

a. earned compensatory time, if the agency normally

provides its employees compensatory time,

Oklahoma Statutes - Title 62. Public Finance Page 110

b. earned annual leave,

c. earned sick leave up to a maximum of forty (40) hours,

and

d. shared leave as approved by the appointing authority.

2. During the six-month period leading up to an executive state

agency's conversion to the multi-monthly payroll system, all

executive state agencies shall inform, in writing or by electronic

means, all their employees of their leave and compensatory time

balances on a monthly basis.

E. The Office of Management and Enterprise Services shall

establish procedures concerning the conversion.
Okla. Stat. tit. 62, § 62-430.5 — OK Code / Title 62 / Section 62-430.5
Participation in federal program
Status: in_force

The board of county commissioners of any county, the governing

board of any city or town, the school board, or board of education

of any school district is hereby authorized to participate in any

federal government program dealing with fire prevention or with the

purchasing or leasing of fire-fighting equipment, and said governing

boards hereinabove enumerated are hereby authorized to receive and

expend any Federal grant or equipment made available by the federal

government and to coordinate their program with the rules and

regulations prescribed by the appropriate federal agency.
Okla. Stat. tit. 62, § 62-436c — OK Code / Title 62 / Section 62-436c
Apportionment and credit of resale property fund
Status: in_force

After June fifteenth of each year the county treasurer shall,

after reserving sufficient of the Resale Property Fund for all

encumbrances and sufficient for estimated cost of preparing,

publishing, and completing through the ensuing fiscal year all tax-

enforcement procedures imposed by law upon the county treasurer, all

excess remaining in said resale property fund on such June fifteenth

shall be, by the county treasurer, apportioned and credited to the

county, and the several cities, towns and school districts therein,

and to the several funds thereof, in ratio to the final gross ad

valorem taxes for such fiscal year levied in each thereof in

accordance with the certificate of the county excise board on the

current budget of each thereof, unless the same has been altered by

order of the Court of Tax Review or the Supreme Court and then in

ratio to the amounts so adjusted. Provided, that, if the board of

county commissioners so order by current resolution, in any county,

that portion so accruing to all or any of the county's funds shall

be credited to the courthouse and jail fund of the county.
Okla. Stat. tit. 62, § 62-139.48 — OK Code / Title 62 / Section 62-139.48
Other emergencies - Expenditures
Status: in_force

Where the written findings of fact required by Section 139.46 of

this title do not include one of the specific emergencies listed in

Oklahoma Statutes - Title 62. Public Finance Page 336

Section 139.47 of this title but do show the existence of some other

emergency not foreseen or reasonably foreseeable by the Legislature,

the Governor may allocate and authorize the expenditure of monies

from the State Emergency Fund to provide for such emergency if, and

only if:

(1) the Contingency Review Board, by a majority vote thereof,

has first found that such emergency exists, and was not foreseen or

reasonably foreseeable by the Legislature, and has certified such

findings in writing to the Governor and the Director of the Office

of Management and Enterprise Services. A copy of such findings

shall be filed in the office of each of the members of said Board.

(2) the Governor, after having received the findings of the

Contingency Review Board, has also found that such emergency exists,

and was not foreseen or reasonably foreseeable by the Legislature.

(3) the funds so allocated and authorized are expended solely

for direct assistance or relief to qualified individuals or

entities, pursuant to eligibility guidelines developed by the

Contingency Review Board for each emergency, or for costs associated

with providing direct assistance.
Okla. Stat. tit. 62, § 62-2010 — OK Code / Title 62 / Section 62-2010
Matching funds not to be required
Status: in_force

No entity which qualifies for funds pursuant to Section 2006 of

this title shall be required to provide matching funds or to provide

equivalent value in order to obtain available funds or funds for

planning expenditures.
Okla. Stat. tit. 62, § 62-57.316 — OK Code / Title 62 / Section 62-57.316
Refinancing and restructuring of outstanding
Status: in_force

obligations - Pledge of tax revenue.

A. The Oklahoma Building Bonds Commission is authorized until

June 30, 2011, to issue bonds, notes, or other obligations for the

purpose of refinancing or restructuring its outstanding obligations

regarding bonds issued under the 1992 Oklahoma Building Bond and

College Savings Bond Act.

B. To the extent funds are available from the proceeds of the

borrowing authorized by this section, the Oklahoma Building Bonds

Commission shall provide for the payment of professional fees and

associated costs approved by the Oklahoma State Bond Advisor. The

Commission is authorized to hire bond counsel, financial

consultants, and such other professionals as it may deem necessary

to provide for the efficient sale of the obligations and may utilize

a portion of the proceeds of any borrowing to create such reserves

as may be deemed necessary and to pay costs associated with the

issuance and administration of such obligations.

C. An issuance of bonds under this section may be undertaken to

achieve an overall debt service savings, modify restrictive bond

document covenants, or reduce payment requirements during periods of

fiscal stress. To achieve these objectives, the Commission is

authorized to extend the final maturity of its outstanding

obligations if necessary, but in no event shall the final maturity

of an individual bond issue be extended more than ten (10) years

without the approval of the Legislature.

D. The obligations authorized under this section may be sold at

either competitive or negotiated sale, as determined by the

Commission, and in such form and at such prices as may be authorized

by the Commission. The Commission may issue obligations in one or

more series and may set such other terms and conditions as may be

necessary, in its judgment to achieve an efficient financing. The

Commission may enter into agreements with such credit enhancers and

Oklahoma Statutes - Title 62. Public Finance Page 290

liquidity providers as may be determined necessary to efficiently

market the obligations, including the purchase of surety policies or

other financial instruments to be utilized in lieu of reserve funds.

The obligations may mature and have such provisions for redemption

as shall be determined by the Commission, but in no event shall the

final maturity of such obligations occur later than thirty (30)

years from the delivery date.

E. Any interest on the funds or accounts created for the

purposes of this section may be utilized as partial payment of the

annual debt service or for the purposes directed by the Commission.

F. The obligations issued under this section, the transfer

thereof and the interest earned on such obligations, including any

profit derived from the sale thereof, shall not be subject to

taxation of any kind by the State of Oklahoma, or by any county,

municipality or political subdivision therein.

G. It is hereby expressly provided and pledged for the benefit

of the purchasers, owners and holders of bonds issued pursuant to

this section that the tax on each package of cigarettes levied by

Section 302 of Title 68 of the Oklahoma Statutes, constituting the

remainder of revenue available from the revenues lawfully levied and

collected by the State of Oklahoma on the sale of cigarettes not

already committed to other obligations of the State of Oklahoma, and

the tax levy on cigarettes pursuant to Sections 302-2 and 302-4 of

Title 68 of the Oklahoma Statutes, or so much as may be necessary,

shall be devoted irrevocably to the payment and discharge of the

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

same become due, and to create an adequate reserve to assure such

payments when due; and said revenue shall be, and hereby is,

irrevocably pledged for such purposes.
Okla. Stat. tit. 62, § 62-577 — OK Code / Title 62 / Section 62-577
Validity of bonds
Status: in_force

Nothing contained herein shall affect the validity or

enforceability of such bonds, once sold pursuant to law, regardless

of actions by the governmental entity subsequent to sale.
Okla. Stat. tit. 62, § 62-382 — OK Code / Title 62 / Section 62-382
1935 validating act - Citation
Status: in_force

This act may be cited as "The 1935 Validating Act."
Okla. Stat. tit. 62, § 62-34.15 — OK Code / Title 62 / Section 62-34.15
Information Services Division - Authority over certain
Status: in_force

information technology equipment facilities.

The Information Services Division of the Office of Management

and Enterprise Services is authorized to:

1. Define the requirements for a facility that can be used by

any state agency to:

a. install backup information technology equipment, or

b. install information technology equipment acquired as

the result of the primary processing facilities being

unavailable for an extended period of time;

2. Enter into a multiyear agreement for a private facility that

meets the defined requirements; and

3. Advise state agencies when the facility is available for

their use.
Okla. Stat. tit. 62, § 62-34.91 — OK Code / Title 62 / Section 62-34.91
Higher Education Capital Revolving Fund
Status: in_force

There is hereby created in the State Treasury a revolving fund

for the Oklahoma State Regents for Higher Education to be designated

the "Higher Education Capital Revolving Fund". The fund shall be a

continuing fund not subject to fiscal year limitations, and shall

consist of monies received pursuant to the provisions of

subparagraph b of paragraph 2 and subparagraph b of paragraph 3 of

Section 1004 of Title 68 of the Oklahoma Statutes and any funds

previously deposited in the Higher Education Capital Fund. All

monies accruing to the credit of the fund are hereby appropriated

and may be budgeted and expended by the Oklahoma State Regents for

Higher Education as authorized by the Oklahoma Legislature.

Expenditures from said fund shall be made upon warrants issued by

the State Treasurer against claims filed as prescribed by law with

the Director of the Office of Management and Enterprise Services for

approval and payment.
Okla. Stat. tit. 62, § 62-72.7 — OK Code / Title 62 / Section 62-72.7
Liability of State Treasurer on default or insolvency of
Status: in_force

public depository.

When public deposits are made in accordance with the Security

for Public Deposits Act, the State Treasurer shall not be liable for

any loss resulting from the default or insolvency of a public

depository in the absence of negligence, malfeasance, misfeasance or

nonfeasance on the part of the State Treasurer.
Okla. Stat. tit. 62, § 62-760 — OK Code / Title 62 / Section 62-760
Examination of bonds by Attorney General
Status: in_force

All general obligation refunding bonds issued pursuant to the

provisions of the General Obligation Public Securities Refunding Act

shall be examined by the Attorney General as ex officio Bond

Commissioner in the manner provided for by law for general

obligation bonds.
Okla. Stat. tit. 62, § 62-438 — OK Code / Title 62 / Section 62-438
Bonds for city hall - Rentals paid into sinking fund
Status: in_force

That all cities in the State of Oklahoma operating under a

charter form of government, wherein such cities may hereafter issue

bonds for the purpose of raising funds to construct a city hall

building, be and are hereby required to pay into the sinking fund

for the payment of interest and the retirement of such bonds so

issued, all rentals so derived from the use of such parts of the

city hall building as are not required for the use of the city, and

such rentals so acquired over and above maintenance shall be

irrevocably pledged for the payment of the interest and the

retirement of such bonds and shall not be used for any other

purpose.
Okla. Stat. tit. 62, § 62-57.85 — OK Code / Title 62 / Section 62-57.85
Advertisement for bids - Interest - Deposit
Status: in_force

The Commission shall advertise said bonds for sale in the manner

hereinafter provided. Notice of such sale shall be published at

least twenty (20) days prior to the date fixed for such sale. Such

Oklahoma Statutes - Title 62. Public Finance Page 240

notice shall be published for at least two (2) consecutive weeks in

a newspaper having general circulation in the State of Oklahoma, and

at least once 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 rate to the State of Oklahoma,

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 the low bid (which shall not exceed an

average rate of interest exceeding four and one-half percent (4

1/2%) 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, 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, § 62-3111 — OK Code / Title 62 / Section 62-3111
Retirement bills having a fiscal impact - Effective dates
Status: in_force

- Appropriations - Other funding.

A. Any retirement bill having a fiscal impact which is enacted

by the Legislature and which is approved by the Governor or which

otherwise becomes law shall become effective on the first day of

July immediately following the regular session during which it was

enacted, but only if the enacted bill is concurrently funded as

provided by this section and only if the bill is approved as an

emergency measure by a vote of two-thirds (2/3) of all members

elected to each House. If an enacted bill does not receive a two-

thirds (2/3) vote of all members, the law shall become effective on

the first day of September immediately following the regular session

during which it was enacted. If an enacted bill, including one

approved by the Governor, is not concurrently funded as required by

this section, then such bill shall not become effective as law.

B. When a retirement bill having a fiscal impact amends a

retirement system having employer contributions funded from

appropriations by the Legislature, then appropriations for the first

fiscal year of effectiveness of the bill, after it becomes law, must

include funds to pay the amount determined by the actuarial

investigation under paragraph 5 of subsection A of Section 3109 of

this title. It is the intent of the Legislature that future

appropriations for subsequent fiscal years must include an amount

necessary to maintain the actuarial soundness of the retirement

system in accordance with the findings of the actuarial

investigation. Any limitation on the rate of employer contributions

that may be included in a law which is the source of authority for a

retirement system affected by this subsection shall be amended to

the extent necessary to comply with the requirements of this

subsection.

C. When a retirement bill having a fiscal impact amends a

retirement system having employer contributions funded wholly or

partially from the funds of a political subdivision, that political

subdivision shall have a duty to produce funds as necessary to pay

all or its proportionate share of the amount determined by actuarial

investigation under paragraph 5 of subsection A of Section 3109 of

this title.

D. When a retirement bill having a fiscal impact creates a new

retirement system, then employer contributions in conformity with

paragraph 5 of subsection A of Section 3109 of this title must be

made to the retirement system either by direct appropriations by the

Legislature or by another source of employer contributions

specifically provided for in the bill creating the new retirement

system.
Okla. Stat. tit. 62, § 62-34.11.10 — OK Code / Title 62 / Section 62-34.11.10
Oklahoma State Government Security Breach
Status: in_force

Transparency Initiative.

A. There is hereby established the Oklahoma State Government

Security Breach Transparency Initiative.

B. The Chief Information Officer shall develop and maintain an

online web presence at the web address security.ok.gov. The site

shall allow the public access to security breaches as described in

this section.

C. For each security breach of a system for which notification

may be required of any state agency pursuant to Section 3113.1 of

Title 74 of the Oklahoma Statutes or any other applicable Oklahoma

or federal law, rule or regulation, the state agency shall

immediately notify the Chief Information Officer of the breach and

fully cooperate to provide all information related to the breach

that is requested by the Chief Information Officer.

D. Information related to each security breach referenced in

subsection C of this section shall be posted on the security.ok.gov

website and when applicable the information shall be updated.
Okla. Stat. tit. 62, § 62-2001 — OK Code / Title 62 / Section 62-2001
Legislative findings
Status: in_force

The Legislature finds that general economic conditions in rural

areas of the State of Oklahoma reflect reduced individual earning

power, relatively lower returns on business investment and the

corresponding effects upon fiscal capacity of political subdivisions

the geographical area of which consists primarily of unincorporated

areas or relatively small municipalities. In order to remove

impediments to economic development in rural areas, in order to

alleviate the sometimes negative effects of lower population

density, population decreases, and increased demand for governmental

services and in order to maintain a desirable quality of life for

residents and other legal entities in rural areas, the Legislature

hereby establishes a procedure pursuant to which public funds may be

used in a flexible manner for the general improvement of living and

working conditions in predominantly rural areas of the State of

Oklahoma for which an identifiable need has been determined.
Okla. Stat. tit. 62, § 62-159.1 — OK Code / Title 62 / Section 62-159.1
State Senate Revolving Fund
Status: in_force

There is hereby created in the State Treasury a revolving fund

for the Oklahoma State Senate to be designated the "State Senate

Revolving Fund". The fund shall be a continuing fund, not subject

to fiscal year limitations, and shall consist of all monies received

by the Oklahoma State Senate from fees, payment of services,

refunds, appropriations and other receipts as authorized by law.

All monies accruing to the credit of said fund are hereby

appropriated and may be budgeted and expended by the Oklahoma State

Senate for the duties and operations of the Senate. Expenditures

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

Treasurer against claims filed as prescribed by law with the

Director of the Office of Management and Enterprise Services for

approval and payment.
Okla. Stat. tit. 62, § 62-910 — OK Code / Title 62 / Section 62-910
Short title
Status: in_force

Sections 3 through 5 of this act shall be known and may be cited

as the "Local and Regional Capital Improvement Planning Process

Act".
Okla. Stat. tit. 62, § 62-57.20 — OK Code / Title 62 / Section 62-57.20
Sales to others than Treasurer or Commissioners
Status: in_force

In the event said bonds, or some portion thereof, are not sold to

the State Treasurer or the Commissioners of the Land Office, as

authorized in Section 5 hereof, then the Commissioner is authorized

to advertise said bonds or the unsold portion thereof, for sale to

other bidders and to sell said bonds, or the unsold portion thereof,

in the manner hereinafter provided. Notice of such sale shall be

published at least thirty (30) days prior to the date fixed for such

sale. Such notice shall be published for at least two (2)

consecutive weeks in a newspaper having general circulation in the

State of Oklahoma, and at least once 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 rate to the

State of Oklahoma 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 the low bid (which

shall not exceed an average rate of interest exceeding three percent

(3%) 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, 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 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

Oklahoma Statutes - Title 62. Public Finance Page 208

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, § 62-3104 — OK Code / Title 62 / Section 62-3104
Retirement bills, RB numbers - Amendments
Status: in_force

A. No retirement bill may be introduced by any member of the

Legislature unless, at the time of its introduction, the bill has

printed thereon in the upper right portion of each page of the bill

an RB number. Once a retirement bill is presented to the

Legislative Actuary, unless as otherwise provided by this

subsection, neither the applicable staff nor any person shall make

any change in the retirement bill prior to its introduction into the

Legislature unless the bill is returned to the applicable staff

office and that office assigns a new RB number to the bill. A

change in a retirement bill by the applicable legislative staff to

correct nonsubstantive errors shall not require the assignment of a

new RB number.

B. A measure that is not a retirement bill when introduced, but

becomes amended to become a retirement bill shall have printed

thereon in the upper right corner of each page of the bill an RB

number at the time the measure is deemed to be a retirement bill as

provided in Section 7 of this act.
Okla. Stat. tit. 62, § 62-34.65 — OK Code / Title 62 / Section 62-34.65
Payment of vendor invoices
Status: in_force

A. To facilitate the payment of vendor invoices and contract

estimates, the Director of the Office of Management and Enterprise

Services shall prescribe a uniform document to be used by all

agencies of the state. The document shall provide summarized

information relative to the referenced invoices or contract

estimates, together with a space for the approval of the head of the

agency approving said vendor invoices or contract estimates for

payment.

B. Vendor invoices and contract estimates shall be accepted by

the state in lieu of the claim form previously required in the same

manner as commercial invoices are paid.

C. Vendor invoices and contract estimates shall be filed with

the agency receiving the merchandise or services in the same manner

as invoices are filed with commercial firms.

D. Upon receipt of invoices or contract estimates, the head of

the agency, or the agency's authorized agent, may approve said

documents for payment as confirmation of delivery or acceptance of

the goods or services. Whereupon, the approved invoices or contract

estimates shall be attached to the document provided for such

purpose and the head of the agency approving such invoices of

contract estimates for payment shall affix the approval in the space

provided on the document.

E. Commercial invoices shall be accepted in lieu of the

standard notarized claim prescribed by the state.
Okla. Stat. tit. 62, § 62-517.6 — OK Code / Title 62 / Section 62-517.6
Default or insolvency of public depository - Procedures
Status: in_force

to be implemented - Sale and forfeiture - Attorney fees.

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

the treasurer of a public entity shall implement the following

procedures:

1. In cooperation with the State Department of Banking and

other regulatory officials, the 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 public entity shall be calculated

by the treasurer. The loss to the public entity 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

treasurer;

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

become forfeited to and become the property of the public entity.

If the securities, bonds or other forms of collateral are valued at

less than the amount of principal and interest due to the public

entity plus the cost of the ensuing sale, the securities, bonds and

other forms of collateral shall be sold by the treasurer, and the

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 public entity plus the

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

collateral may be sold by the treasurer and the excess of the

Oklahoma Statutes - Title 62. Public Finance Page 448

proceeds shall be returned to the pledging financial institution or

its receiver, without further process of law.
Okla. Stat. tit. 62, § 62-34.13 — OK Code / Title 62 / Section 62-34.13
Statement of charges
Status: in_force

The Information Services Division of the Office of Management

and Enterprise Services shall, at the end of each month, render a

statement of charges to all state agencies to which it has furnished

processing services for the direct costs of the Data Service Center

of the Information Services Division, which shall be timely paid.

In total, the charges shall not exceed the direct costs of the Data

Service Center of the Information Services Division. Systems

analysts and programming services costs shall be recovered directly

from the agency for which the service was rendered, as agreed to by

that agency, and shall not be prorated to agencies not receiving

such services. If the charges or programming services costs 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. All amounts so collected shall be

deposited in the State Treasury to the credit of the General Revenue

Fund.
Okla. Stat. tit. 62, § 62-57.171 — OK Code / Title 62 / Section 62-57.171
Sale and issuance of bonds authorized - Amount
Status: in_force

The State of Oklahoma Building Bonds Commission is hereby

authorized and directed to sell and issue Series D of the State of

Oklahoma Building Bonds of 1968 in the principal sum of Fourteen

Million Dollars ($14,000,000.00) on or about July 15, 1973, under

the terms and conditions of Sections 57.121 through 57.136, Title

62, Oklahoma Statutes, except where such terms and conditions are

superseded by the provisions of this act.
Okla. Stat. tit. 62, § 62-36.1 — OK Code / Title 62 / Section 62-36.1
Short title - Oklahomans Virtually Everywhere Act of 2019 – Research and development
Status: in_force

Oklahoma Statutes - Title 62. Public Finance Page 4– Research and development proposal.

A. This act shall be known and may be cited as the "Oklahomans

Virtually Everywhere Act of 2019". The Oklahomans Virtually

Everywhere Act creates a statewide initiative that allows Oklahomans

to provide their expertise throughout the world without leaving

their communities by Oklahoma becoming the leader in telepresence

and virtual presence.

B. For purposes of this section:

1. "Telepresence" means the ability of people who are not

physically present with each other to collaborate and interact with

others in meetings, conferences, office work and other contexts as

though they were physically present; and

2. "Virtual presence" means that the interactions between

individuals and groups virtually present in meetings, conferences,

office work and other social contexts are indistinguishable between

those who are physically present and those who are not.

C. The Oklahoma State Regents for Higher Education shall lead

an effort in conjunction with OneNet, the State Board of Career and

Technology Education, State Department of Education, Oklahoma

Department of Libraries, Oklahoma Department of Commerce and the

Office of Management and Enterprise Services on behalf of all state

agencies to create a research and development proposal to make

Oklahoma a leader in telepresence, with the ultimate goal of being a

leader in virtual presence as the technology matures. The proposal

shall include a proposed budget and be prepared for the legislative

session following the effective date of this act. Each agency in

this subsection shall designate a liaison for this effort.

D. The proposal shall:

1. Include a proposed budget and be prepared for the budget

hearings of the legislative session;

2. Be created in consultation with businesses and state

agencies;

3. Include a strategy for training Oklahoma organizations to

use existing technology for telepresence and virtual presence; and

4. Include an overview of the current state of telepresence in

Oklahoma education, government and business, with the following:

a. research and actions necessary to become a leader in

telepresence in education,

b. research and actions necessary to become a leader in

telepresence in government,

c. research and actions necessary to become a leader in

telepresence in business,

Oklahoma Statutes - Title 62. Public Finance Page 158

d. research and actions necessary to become a leader in

telepresence in Oklahoma rural communities,

e. identification of potential partners and sources of

matching or other funds,

f. strategy for training Oklahoma organizations to use

existing technology for telepresence and virtual

presence, and

g. any additional information deemed necessary by the

participants.
Okla. Stat. tit. 62, § 62-761 — OK Code / Title 62 / Section 62-761
Impairment of other bonds, obligations or refunding
Status: in_force

transactions prohibited.

Nothing in the General Obligation Public Securities Refunding

Act shall be construed so as to impair the obligations of any

refunding bonds issued or any refunding transaction consummated by a

public body prior to the effective date of this act, or otherwise to

invalidate any such bond, obligation, or refunding transaction.
Okla. Stat. tit. 62, § 62-690.2 — OK Code / Title 62 / Section 62-690.2
Definitions
Status: in_force

For the purposes of Section 690.1 et seq. of this title:

1. "Authority" means an "Enterprise District Management

Authority" created pursuant to Section 690.7 of this title;

2. "Building" means a structure consisting of a foundation,

walls, roof and other parts necessary to its occupation; provided

however, it shall not include a structure intended to be used for

residence purposes;

3. "Enterprise" means any form of business organization

including, but not limited to, any partnership, sole proprietorship,

corporation, limited liability company or other legally constituted

business entity;

4. "Enterprise district" means at least three but not more than

six contiguous enterprise zones formed for the purpose of issuing

general obligation bonds;

5. "Enterprise zone" means:

a. a county which:

(1) has experienced a decrease in population during

the ten-year period preceding the date as of

which an establishment either enters into a

commitment to locate or announces a plan to

locate within an enterprise zone or expands

activity within an existing enterprise zone as

determined by the Oklahoma Department of

Commerce, or

Oklahoma Statutes - Title 62. Public Finance Page 473

(2) has been determined to rank in the lowest one-

third (1/3) of all counties, which for purposes

of this division shall be computed as the lowest

twenty-five (25) counties, for per capita

personal income as measured by the Bureau of

Economic Analysis for the Oklahoma region for the

calendar year preceding the beginning of the

fiscal year for which an application is made

pursuant to Section 690.3 of this title,

b. an area within or contiguous to the corporate limits

of any city or town of this state which the Oklahoma

Department of Commerce determines, upon application,

as an area of economic distress. For purposes of this

subparagraph, an area within or contiguous to the

corporate limits of a city or town may be determined

to be an area of economic distress if it consists of

one or more census tracts located within a city or

town or contiguous to a city or town. The area as

defined by this subparagraph must:

(1) contain a population of persons equal to or

greater than thirty percent (30%) of the total

population the household income for whom is equal

to or less than the poverty level as measured by

the U.S. Census Bureau for the Oklahoma region

for the most recent year for which data is

available prior to the date an application is

made pursuant to Section 690.3 of this title, or

(2) contain a population of persons the per capita

gross income for whom is fifteen percent (15%) or

more below the state per capita income,

c. an area designated as a federal enterprise community

as provided by Section 690.3 of this title, or

d. any enterprise zone designated by the Oklahoma

Department of Commerce prior to July 1, 2000;

6. "Equipment" means machinery necessary to the construction or

manufacture of products for resale;

7. "Expand" means to make expenditures to add land, buildings,

machinery, equipment or other materials, except inventory, to a

facility that equal at least ten percent (10%) of the market value

of the facility prior to such expenditures, as determined for the

purposes of local property taxation;

8. "Facility" means an enterprise's place of business in an

enterprise zone, including land, buildings, machinery, equipment and

other materials, except inventory used in business. Except as

provided by subsection B of Section 11 of this act, “facility” does

not include an establishment used primarily for making retail sales;

Oklahoma Statutes - Title 62. Public Finance Page 474

9. "Full-time employee" means an individual who is employed for

consideration by an enterprise for at least thirty-five (35) hours a

week, or who renders any other standard of service generally

accepted by custom or specified by contract as full-time employment;

10. "New employee" means a full-time employee first employed by

an enterprise at a facility after the designation of an enterprise

zone;

11. "Position" means the position of one full-time employee

performing a particular set of tasks and duties;

12. "Priority Enterprise Zones" means enterprise zones which

are selected to receive additional resources or programs after

meeting the criteria specified in this act;

13. "Project" means any undertaking by an enterprise to

establish a facility or to improve a facility by expansion, in an

enterprise zone or enterprise district;

14. "Responsible tenant" means any person, partnership, firm,

company or corporation whether organized for profit or not deemed by

the Authority, after proper investigation, to be financially

responsible to assume all rental and all other obligations

prescribed by the Authority in the leasing of any building or

equipment on which the Authority has a loan outstanding; and

15. "Renovate" means to make expenditures to alter or repair a

facility that equal at least fifty percent (50%) of the market value

of the facility prior to such expenditures, as determined for the

purposes of local property taxation.
Okla. Stat. tit. 62, § 62-310.1 — OK Code / Title 62 / Section 62-310.1
Cities and towns - Purchasing procedures
Status: in_force

A. Unless otherwise provided by ordinance, officers, boards,

commissions and designated employees of cities and towns,

hereinafter referred to as the purchasing officer, having authority

to purchase or contract against all budget appropriation accounts as

authorized by law shall submit all purchase orders and contracts

prior to the time the commitment is made, to the officer charged

with keeping the appropriation and expenditure records or clerk, who

shall, if there be an unencumbered balance in the appropriation made

for that purpose, so certify in the following form:

I hereby certify that the amount of this encumbrance has been

entered against the designated appropriation accounts and that this

encumbrance is within the authorized available balance of said

appropriation.

Dated this ______ day of _____________, 20____.

___________________________________________

Oklahoma Statutes - Title 62. Public Finance Page 375

Encumbering Officer or Clerk of ___________.

Provided, in instances where it is impossible to ascertain the exact

amount of expenditures to be made at the time of recording the

encumbrance, an estimated amount may be used and the encumbrance

made in like manner as set forth above. Provided, no purchase order

or contract shall be valid unless signed and approved by the

purchasing officer and certified as above set forth by the officer

or clerk charged with keeping the appropriation and expenditure

records. The clerk or encumbering officer shall retain and file one

copy of the purchase order.

B. After satisfactory delivery of the merchandise or completion

of the contract, the supplier shall deliver an invoice. Such

invoice shall state the supplier's name and address and must be

sufficiently itemized to clearly describe each item purchased, its

unit price, where applicable, the number or volume of each item

purchased, its total price, the total of the purchase and the date

of the purchase. The appropriate officer shall attach the itemized

invoice together with delivery tickets, freight tickets or other

supporting information to the original of the purchase order and,

after approving and signing said original copy of the purchase

order, shall submit the invoices, the purchase order and other

supporting data for consideration for payment by the governing

board. All invoices submitted shall be examined by the governing

board to determine their legality. The governing board shall

approve such invoices for payment in the amount the board determines

just and correct.

C. As an alternative to the provisions of subsection B of this

section, the governing body may elect to pay claims and invoices

pursuant to the provisions of subsection A of Section 17-102 of

Title 11 of the Oklahoma Statutes, which provides for the adoption

of an ordinance to ensure adequate internal controls against

unauthorized or illegal payment of invoices. The governing body may

also authorize the chief executive officer or designee to approve

payment of such invoices. In absence of such authority, the

governing board shall approve payment.
Okla. Stat. tit. 62, § 62-690.15 — OK Code / Title 62 / Section 62-690.15
Contract to loan - Security - Foreclosure and other
Status: in_force

remedies.

A. When it has been determined by the Authority, upon

application of an enterprise and hearing thereon in the manner

provided in this act, that a particular project referred to in such

application will accomplish the purposes of this act, the Authority

may contract to loan such enterprise an amount up to one hundred

percent (100%) of the estimated cost of the building and equipment

necessary to such project. The Authority shall take as security for

its loan a first or second mortgage lien on such approved project.

B. The Authority is hereby authorized to take title by

foreclosure to any building and equipment on which it has a loan

outstanding, where such acquisition is necessary to protect any loan

previously made by the Authority. The Authority is hereby

authorized to sell, transfer and convey any such building and

equipment to any responsible buyer, provided, that all such property

shall be sold to the highest bidder at a public sale. The Authority

Oklahoma Statutes - Title 62. Public Finance Page 482

shall decline the highest bid and reoffer the property for sale if

it considers the price bid insufficient to recover the total cost of

the Authority's investment. In the event such sale, transfer and

conveyance cannot be effected with reasonable promptness, the

Authority may, in order to minimize financial losses and sustain

employment, lease such building and equipment to a responsible

tenant or tenants. Provided, that the terms of such lease shall be

sufficient to ensure that no financial loss shall be incurred by the

Authority, county or school district by the leasing of such

property.
Okla. Stat. tit. 62, § 62-34.41 — OK Code / Title 62 / Section 62-34.41
Availability of appropriations - Conditioned on budget
Status: in_force

resources being sufficient.

Appropriations shall not be available for contractual or

expenditure purposes until allotted as provided in the Oklahoma

State Finance Act. Appropriations made by the Legislature to each

state agency are hereby declared to be maximum, conditional and

proportionate appropriations. The purpose of this section is to

Oklahoma Statutes - Title 62. Public Finance Page 80

make appropriations payable in full in the amounts named only in the

event that the estimated budget resources within each state fund

during each fiscal year are sufficient to pay all of the

appropriations for such fiscal year in full. It is also the purpose

of this provision to ensure that there shall be no overdraft or

deficit created in the several funds of the state at the end of any

fiscal year, and the Director of the Office of Management and

Enterprise Services is directed and required so to administer the

Oklahoma State Finance Act to prevent such overdraft or deficit.
Okla. Stat. tit. 62, § 62-34.25 — OK Code / Title 62 / Section 62-34.25
Reimbursement of merchant fee - Convenience fee for
Status: in_force

manual transaction - Convenience fee for electronic transaction.

A. Subject to review and approval as provided for in Section

34.27 of this title, a state agency, board, commission, or authority

may obtain reimbursement of a merchant fee incurred in connection

with any electronic or online transaction.

B. Subject to review and approval as provided for in Section

34.27 of this title, unless otherwise permitted by law, a state

agency, board, commission or authority may charge a convenience fee

for a manual transaction. Each state entity shall keep a record of

how the convenience fee has been determined and shall file the

record with the Information Services Division of the Office of

Management and Enterprise Services. A state agency, board,

commission, or authority may periodically adjust a convenience fee

as needed upon review and approval as provided for in Section 34.27

of this title.

Any state agency, board, commission or authority may apply to

the State Governmental Technology Applications Review Board for

authorization to charge a convenience fee for electronic or online

transactions. If authorization is granted, the state entity shall

not assess a convenience fee for equivalent manual transactions.

The Board shall annually review the authorization for a convenience

fee for electronic or online transactions and shall take action to

renew or revoke the authorization as provided for in this

subsection.

C. For purposes of this section:

1. "Merchant fee" shall mean and be limited to the cost of a

charge imposed by a third-party credit card or debit card issuer

that is necessary to process an electronic or online transaction

with a state agency, board, commission or authority;

2. "Convenience fee" shall mean a fee charged to partially

compensate for costs incurred as a result of providing for a manual

transaction or an electronic or online transaction if authorization

is approved as provided for in subsection B of this section; and

3. "Manual transaction" shall mean a transaction that is not

conducted online or electronically if the transaction is made

available online or electronically.
Okla. Stat. tit. 62, § 62-57.86 — OK Code / Title 62 / Section 62-57.86
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 definite 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, § 62-304.2 — OK Code / Title 62 / Section 62-304.2
Assignment of salary or wage earnings
Status: in_force

Except as otherwise provided by Section 165.3a of Title 40 of

the Oklahoma Statutes, assignment of salary or wage earnings in such

instance shall be by separate instrument, and by affidavit. Except

as otherwise provided by Section 165.3a of Title 40 of the Oklahoma

Statutes, it shall be unlawful to issue or authorize the issuance of

a municipal warrant for salary or wages to any person other than the

person earning the same, or to his or her assignee or the executor

or administrator of his or her estate or to any person entitled to

child support payments pursuant to an income assignment proceeding

or a garnishment proceeding. Except as provided by income

assignment procedures for the collection of child support, no

assignment of a part of salary or wages shall be made, and any

Oklahoma Statutes - Title 62. Public Finance Page 372

assignment of salary or wages before the same has been earned shall

be a nullity and shall avail the assignee nothing.
Okla. Stat. tit. 62, § 62-3109 — OK Code / Title 62 / Section 62-3109
Actuarial investigation - Submission to requesting
Status: in_force

committee chair - Summary.

A. If an actuarial investigation of a retirement bill having a

fiscal impact is requested under Section 3108 of this title, it

shall be the duty of the Legislative Actuary to complete or cause to

be completed such actuarial investigation by not later than December

1 of the same year during which the request for the actuarial

investigation was made. The actuarial investigation shall include,

but shall not be limited to, findings on the following factors as

such factors are relevant to the retirement bill under

consideration:

Oklahoma Statutes - Title 62. Public Finance Page 667

1. The dollar amount of the unfunded actuarial accrued

liability which will result from the bill for the retirement system

affected by the bill;

2. The dollar amount of the annual normal cost which will

result from the bill for the retirement system affected by the bill;

3. A statement of the employer contribution rate currently in

effect for the retirement system affected by the bill;

4. A statement of the employer contribution rate necessary for

the retirement system to receive the required annual employer

contributions consistent with the most recently available valuation

report prepared by the actuary employed by the retirement system

affected by the bill;

5. A statement of the dollar amount of the increase in the

annual employer contribution, if an existing retirement system is

affected by the bill, or a statement of the total annual employer

contribution, if a new retirement system is established by the bill,

which will be necessary to maintain the retirement system affected

or established by the bill in an actuarially sound condition thereby

creating no increase in unfunded liability as defined by the most

recent actuarial evaluation of an existing system; and

6. A statement of the effect on the funded ratio for the

retirement system affected by the bill.

B. By not later than December 1 of the same year that the

request for an actuarial investigation was made, the completed

actuarial investigation shall be submitted by the Legislative

Actuary to the chair of the committee who requested it along with a

summary of the actuarial investigation which shall include the

relevant findings specified in subsection A of this section.

C. The chair of the committee, upon receipt of the information

provided for under subsection B of this section, shall cause the

summary of the actuarial investigation to be attached to all copies

of the version of the bill submitted to the Legislative Actuary and

made available to committee members, other legislators and any other

interested parties. The original summary of the actuarial

investigation shall be attached to the original version of the

substitute bill, as amended by the committee under Section 3108 of

this title, if applicable, or to the original version of the bill as

introduced if the bill was not changed by the committee prior to its

submission to the Legislative Actuary for an actuarial

investigation.
Okla. Stat. tit. 62, § 62-656 — OK Code / Title 62 / Section 62-656
Bonds not general obligations of municipality or county -
Status: in_force

Payment of principal and interest.

Such revenue bonds shall not be general obligations of the

municipality or county, and in no event shall the revenue bonds

constitute an indebtedness of the municipality or county within the

meaning of any constitutional or statutory limitation. It shall be

plainly stated on the face of each bond that the same has been

issued under the provisions of this act, and under the terms of 60

O.S. 1951, Sections 176 - 180, inclusive, as amended by Sections 1

and 2, Chapter 4, Title 60, page 277, Oklahoma Session Laws 1953 (60

O.S. Supp.1959, Sections 176 and 177), relating to public trusts,

and that it does not constitute an indebtedness of the municipality

or county within any constitutional or statutory limitation. The

principal of and the interest on the revenue bonds, and paying

Oklahoma Statutes - Title 62. Public Finance Page 469

agent's fees, shall be payable in the first instance from gross

revenues derived from the lands, buildings, and/or facilities

acquired, constructed, reconstructed, extended, and/or improved, in

whole or in part, with the proceeds of the bonds. In addition, the

trustees, with prior approval of the municipality or county, are

authorized to pledge to and use for the payment of the principal of

and interest on the bonds, and paying agent's fees, such revenues

derived from other lands, buildings, and/or facilities used and

useful or securing and developing industry and/or surplus revenues

derived from water, sewer, gas, and electric utilities owned by the

municipality or county and by such beneficiary transferred or leased

to the trustees for such purpose, provided that such transfer or

lease shall have been included in the question voted upon and

approved in the election required to be held under Section 4 of this

act. For the purpose of this section the phrase "surplus revenues"

is hereby defined to be any revenues over and above the costs of

financing the general government and utility functions of the

municipality or county in any fiscal year, or any prior commitments

of such revenues.
Okla. Stat. tit. 62, § 62-57.87 — OK Code / Title 62 / Section 62-57.87
Legal investments
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, § 62-72.4a — OK Code / Title 62 / Section 62-72.4a
Public trusts - Restrictions on deposits - Exceptions
Status: in_force

A. To the extent that public trusts that have the state or any

city, town or county as a beneficiary deposit monies in financial

institutions, the public trust shall place its monies only in

collateralized or insured certificates of deposit and other

evidences of deposit. To the extent that public trusts that have

the state as a beneficiary deposit monies in financial institutions,

such trusts may act directly on their own behalf and for their own

account to document, implement and administer the collateralizing of

such deposits, so long as the collateralizing or pledge of assets by

financial institutions is made with the same type of collateral and

in the same manner and form as pledges made to secure deposits by

the State Treasurer under the Security for Public Deposits Act.

Oklahoma Statutes - Title 62. Public Finance Page 298

B. This section shall not be applicable to proceeds or other

funds, including the revenue stream, relating to bond issues which

shall be invested pursuant to the indenture established for such

bonds.
Okla. Stat. tit. 62, § 62-159.2 — OK Code / Title 62 / Section 62-159.2
House of Representatives Revolving Fund
Status: in_force

There is hereby created in the State Treasury a revolving fund

for the Oklahoma House of Representatives to be designated the

"House of Representatives Revolving Fund". The fund shall be a

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

consist of all monies received by the Oklahoma House of

Oklahoma Statutes - Title 62. Public Finance Page 340

Representatives from fees, payment of services, refunds,

appropriations and other receipts as authorized by law. All monies

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

be budgeted and expended by the Oklahoma House of Representatives

for the duties and operations of the House of Representatives.

Expenditures from said fund shall be made upon warrants issued by

the State Treasurer against claims filed as prescribed by law with

the Director of the Office of Management and Enterprise Services for

approval and payment.
Okla. Stat. tit. 62, § 62-852 — OK Code / Title 62 / Section 62-852
Legislative guidelines
Status: in_force

It is the intent of the Legislature that the provisions of this

act be used in accordance with the following guidelines:

1. That the tools of this act be used in those cases where

investment, development and economic growth is difficult, but is

possible if the provisions of this act are available;

2. That the tools of this act not be used in areas where

investment, development and economic growth would have occurred

anyway and that the governing body take care to exclude areas that

do not meet this criteria;

3. That the tools of this act be used to supplement and not

supplant or replace normal public functions and services;

4. That the tools of this act work in conjunction with existing

programs and efforts such as the Oklahoma Main Street Program,

Oklahoma Enterprise Zone Act, historic preservation and other

locally implemented economic development efforts;

5. That any proposed districts be delineated with particular

emphasis not to have boundaries that dissect a similar area or

create unfair competitive advantage;

6. That the governing body recognizes the need for residential

and neighborhood treatment, capital improvements to neighborhood

public schools, as well as commercial/industrial development;

7. That where possible partial credits or credits that do not

utilize the full time frame allowed be pursued;

8. That maximum effort be made to allow full public knowledge

and participation in the local use of this act;

9. That conservation, preservation and rehabilitation be

emphasized while demolition, clearance and relocation be minimized

where possible; and

10. That the governing bodies develop and apply clear

standards, criteria and threshold limits that are applicable to all

similar property and areas and that the governing bodies enact

protection against nearby relocations to utilize incentives.

Oklahoma Statutes - Title 62. Public Finance Page 540
Okla. Stat. tit. 62, § 62-871 — OK Code / Title 62 / Section 62-871
Definitions
Status: in_force

As used in the Oklahoma Rural Housing Incentive District Act:

1. “County” means any county with a population of less than

seventy-five thousand (75,000) persons, according to the most recent

federal decennial census;

2. “Developer” means the person, firm or corporation

responsible under an agreement with the governing body of a

municipality or county to develop housing or related public

facilities in a district;

3. “District” means a rural housing incentive district

established in accordance with the Oklahoma Rural Housing Incentive

District Act;

4. “Executive Director” means the Executive Director of the

Oklahoma Housing Finance Agency;

5. “Governing body” means the board of county commissioners of

any county or the governing body of a municipality;

6. “Municipality” means any incorporated city or town with a

population of less than forty thousand (40,000) persons in a county

Oklahoma Statutes - Title 62. Public Finance Page 570

with a population of less than seventy-five thousand (75,000)

persons, according to the most recent federal decennial census;

7. “Real property taxes” means and includes all taxes levied on

an ad valorem basis upon land and improvements thereon; and

8. “Taxing subdivision” means the county, the municipality, the

school district, and any other taxing subdivision levying real

property taxes, the territory or jurisdiction of which includes any

currently existing or subsequently created rural housing incentive

district.
Okla. Stat. tit. 62, § 62-34.59 — OK Code / Title 62 / Section 62-34.59
Withdrawals from agency clearing accounts and special
Status: in_force

accounts.

All withdrawals of money from agency clearing accounts and

agency special accounts shall be made on the voucher of the agency

making such deposit and such voucher shall be payable at the State

Treasury and when presented for payment shall be charged against the

account designated, and shall, when redeemed by the State Treasurer,

be delivered monthly to the state agency drawing said vouchers.
Okla. Stat. tit. 62, § 62-2302 — OK Code / Title 62 / Section 62-2302
Purpose
Status: in_force

The purpose of the Tobacco Settlement Endowment Trust Fund Act

is to further implement the provisions of Section 40 of Article X of

the Oklahoma Constitution that:

1. Created the Tobacco Settlement Endowment Trust Fund, the

Board of Investors of the Tobacco Settlement Endowment Trust Fund,

and the Board of Directors of the Tobacco Settlement Endowment Trust

Fund;

2. Directs the apportionment of revenues from settlements with

or judgments against tobacco companies between the Tobacco

Settlement Endowment Trust Fund and a special fund established for

Oklahoma Statutes - Title 62. Public Finance Page 640

the purpose of receiving tobacco settlement payments not deposited

to the trust fund; and

3. Authorizes the Board of Directors of the Tobacco Settlement

Endowment Trust Fund to expend trust fund earnings for specific

purposes.
Okla. Stat. tit. 62, § 62-57.128 — OK Code / Title 62 / Section 62-57.128
Series A Bonds
Status: in_force

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

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

be designated by the State of Oklahoma Building Bonds Commission.

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

amounts, respectively, as follows:

YEARS AMOUNTS

1972 $ 850,000.00

1973 900,000.00

1974 1,000,000.00

1975 1,000,000.00

1976 1,100,000.00

1977 1,100,000.00

1978 1,200,000.00

1979 1,300,000.00

1980 1,300,000.00

1981 1,400,000.00

1982 1,500,000.00

Oklahoma Statutes - Title 62. Public Finance Page 257

1983 1,550,000.00

1984 1,650,000.00

1985 1,750,000.00

1986 1,850,000.00

1987 1,950,000.00

1988 2,050,000.00

1989 2,150,000.00

1990 2,250,000.00

1991 2,450,000.00

The Series A Bonds shall bear interest, payable semiannually on

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

denominations, 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 of 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, at the discretion of the Commission, be made

subject to call and redemption, in inverse order of bond numbers, at

par or with premium, and accrued interest, with the detailed

provisions for such calling and redemption thereof and the amount of

the premium, if any, to be fixed by the Commission in the resolution

or resolutions for the issuance of such bonds. Until such time as

the sinking fund shall be sufficient to retire all outstanding State

of Oklahoma Building Bonds of 1968, including interest thereon,

there shall be paid into the sinking fund during each fiscal year

from the sources hereinabove pledged such amounts as may be

necessary to pay the interest and principal as they become due. All

bonds issued pursuant to this act shall have all the qualities and

incidents of negotiable paper, and neither said bonds nor the

interest earned thereon shall be subject to taxation by the State of

Oklahoma or any county, municipality or political subdivision

thereof.
Okla. Stat. tit. 62, § 62-179 — OK Code / Title 62 / Section 62-179
Use of fund - Consent of Governor
Status: in_force

The said fund shall be available for the purchase of materials,

equipment, buildings and appurtenances, and may be expended for all

other purposes which may be proper and necessary in the conduct of

all or any of the business enterprises, occupations and undertakings

set out in the preceding section of this Act, or that may be now or

hereafter authorized by law; Provided, that with the consent of the

Governor given in writing, the said fund may be used for any legal

and proper purpose, in case of actual emergency.
Okla. Stat. tit. 62, § 62-2403 — OK Code / Title 62 / Section 62-2403
Promulgation of rules
Status: in_force

The State Treasurer may promulgate rules and establish processes

and procedures as needed to implement and administer the provisions

of the Invest In Oklahoma Act, provided such rules, processes, and

procedures do not conflict with or contradict directives or

limitations established by Invest in Oklahoma Board.

Oklahoma Statutes - Title 62. Public Finance Page 651
Okla. Stat. tit. 62, § 62-885 — OK Code / Title 62 / Section 62-885
Procedures for establishing housing reinvestment district
Status: reserved

- Adoption of ordinance or resolution - Initiative and referendum.

A. The governing body of a municipality or county may establish

a housing reinvestment district as follows:

1. A housing reinvestment district may only be created in a

municipality or county with a population of less than three hundred

thousand (300,000) persons and in which the percentage change in

population, according to the most recent federal decennial census or

the most recent population estimate provided by the United States

Bureau of the Census, compared with the previous federal decennial

census, is less than the national average percentage change in

population; provided, a municipality or county which does not meet

such requirement may create a housing reinvestment district in a

specific geographic area thereof which meets the definition of an

“opportunity zone” as such term is defined in paragraph 2 of

subsection G of Section 3604 of Title 68 of the Oklahoma Statutes;

2. The governing body shall designate and adopt the proposed

boundaries of any such district. Except as otherwise provided in

this subsection, the boundaries of any district created by a

municipality shall be confined to that territory within the

corporate limits of the municipality and any district created by a

county shall be confined to that territory within the unincorporated

areas of the county. Any municipality or county may by written

agreement jointly create a contiguous district with one or more

other municipalities or counties;

3. The governing body shall obtain the written consent of each

taxing entity levying ad valorem taxes upon property located in the

proposed boundaries of the district to grant tax abatements as

provided in Section 6 of this act. If such written consent is not

obtained from each taxing entity, the district shall not be created.

The governing body shall further enter into a contractual

arrangement with the governing bodies of all other affected taxing

entities to provide relief from ad valorem taxes as provided in

Section 6 of this act;

4. Upon the adoption and approval of the proposed boundaries of

the district, the governing body shall, after public notice and

Oklahoma Statutes - Title 62. Public Finance Page 580

hearing, adopt an ordinance or resolution, whichever is applicable,

which:

a. describes the boundaries of the district sufficiently

definite to identify with ordinary and reasonable

certainty the territory included in it,

b. creates the district as of a specified date,

c. assigns a name to the district for identification

purposes, and

d. contains findings that:

(1) the municipality or county or portion thereof in

which the proposed district is located meets the

requirements of paragraph 1 of this subsection,

and

(2) the improvement to housing in the area of the

district caused by the granting of tax abatements

pursuant to the provisions of this act is likely

to enhance the value of other real property in

the municipality or county and to promote the

general public interest.

B. The powers of initiative and referendum, reserved by the

Oklahoma Constitution to the people, are reserved to the people of

every municipality or county with reference to the tax relief or

incentives or exemptions or increment captured as authorized by

Section 6C of Article X of the Oklahoma Constitution and as provided

for in this act. A housing reinvestment district may be created

through an initiative or referendum petition pursuant to the

procedures set forth in Section 868 of Title 62 of the Oklahoma

Statutes. A housing reinvestment district may also be terminated,

whether created pursuant to the provisions of subsection A of this

section or through an initiative or referendum petition, through an

initiative or referendum petition pursuant to such procedures.
Okla. Stat. tit. 62, § 62-690.4 — OK Code / Title 62 / Section 62-690.4
Benefits and incentives
Status: in_force

A. The following benefits and incentives shall be available to

qualified enterprises:

1. Two times the amount of investment tax credits as provided

in subsection A of Section 2357.4 of Title 68 of the Oklahoma

Statutes. For purposes of this act and for purposes of computing

the tax credit amount pursuant to subsection A of Section 2357.4 of

Title 68 of the Oklahoma Statutes, if an enterprise selects to claim

the credit based upon the qualified cost of depreciable property,

the credit amount shall be two percent (2%) of such qualified cost.

If an enterprise selects to claim the credit based upon the number

of new full-time-equivalent positions, the credit amount shall be

One Thousand Dollars ($1,000.00) for each new full-time-equivalent

employee;

2. Sales tax exemptions for certain manufacturers as provided

in Section 1359 of Title 68 of the Oklahoma Statutes; and

3. Low interest loans as provided in Section 690.16 of this

title.

B. Any enterprise moving into an enterprise zone on or after

the effective date on which the enterprise zone is designated may

obtain the benefits and incentives provided by this section if the

Oklahoma Statutes - Title 62. Public Finance Page 476

enterprise meets the requirements established by law for the receipt

of such benefits.

C. An enterprise located within an enterprise zone before the

date on which the enterprise zone is designated may obtain the

benefits and incentives provided by this section with respect to any

project or any expansion of its labor force occurring after the date

on which the enterprise zone is designated.

D. For purposes of obtaining the benefit provided by paragraph

1 of subsection A of this section, a business, which prior to the

effective date of this act, located in an area that was designated

as an enterprise zone at the time any official action was taken by a

public trust or private funds with respect to location of such

business in a county, city or town designated as the beneficiary of

such public trust or private funds, shall be entitled to such

benefit for any taxable year during which such business was located

and operating in the area regardless of any changes in the

designation of the area as an enterprise zone resulting from a

change in employment levels.

E. For purposes of obtaining the benefit provided by paragraph

1 of subsection A of this section, a business, which prior to July

1, 1993, located in an area that was not designated as an enterprise

zone at the time of location of the business but such area has since

been designated as an enterprise zone by the Oklahoma Department of

Commerce as a result of the area's location in County 115, Tract

9746, Block Group 4 of the 1990 decennial census, shall be entitled

to such benefit for any taxable year during which such business was

located and operating in the location regardless of designation of

the area in which the business located as an enterprise zone area

after the date of initial location of the business.

F. The low interest loans as authorized by this section shall

be available for a period of five (5) years following the date on

which the county or area within the corporate limits of a city or

town is designated an enterprise zone, or until said county or area

no longer qualifies as an enterprise zone.

G. The other benefits and incentives set forth in this section

shall be subject to the limitations as provided by law.
Okla. Stat. tit. 62, § 62-57.105 — OK Code / Title 62 / Section 62-57.105
Advertisement for bids - Interest - Deposit
Status: in_force

The Commission shall advertise the Series D 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

Oklahoma Statutes - Title 62. Public Finance Page 248

also state that the bonds will be sold to the bidder bidding the

lowest interest 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

five percent (5%) 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, § 62-8013 — OK Code / Title 62 / Section 62-8013
Oversight committee
Status: in_force

A. There is hereby created within the Legislature a committee

to oversee the operations of the Legislative Office of Fiscal

Transparency. The committee shall consist of fourteen (14) members,

as follows:

Oklahoma Statutes - Title 62. Public Finance Page 681

1. Seven members of the Senate, at least two of whom shall be

members of the minority party, to be appointed by the President Pro

Tempore of the Senate; and

2. Seven members of the House of Representatives, at least two

of whom shall be members of the minority party, to be appointed by

the Speaker of the House of Representatives.

B. The President Pro Tempore of the Senate and the Speaker of

the House of Representatives shall each designate a co-chair of the

oversight committee from among the members from their respective

houses.

C. A quorum of the oversight committee shall consist of at

least eight members; provided, any action by the oversight committee

shall require the vote of at least four members from each house of

the Legislature. The agenda for each meeting shall be set by the

co-chairs and shall be made available to the public, by posting on

the Senate and House websites, at least twenty-four (24) hours prior

to the time of the meeting. Meetings of the oversight committee

shall be governed by joint rules of the Legislature. Members of the

oversight committee shall receive reimbursement from the Legislative

Service Bureau for actual and necessary expenses incurred in

connection with their duties as members of the oversight committee

in accordance with other provisions of law relating to travel

reimbursement for members of the Legislature.

D. The members and co-chairs of the oversight committee shall

be appointed no later than July 1, 2019, and the oversight committee

shall hold its first meeting no later than August 1, 2019.
Okla. Stat. tit. 62, § 62-41.15 — OK Code / Title 62 / Section 62-41.15
Renumbered as § 34.47 of this title by Laws 2009, c
Status: in_force

441, § 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-72.2 — OK Code / Title 62 / Section 62-72.2
Definitions
Status: in_force

As used in the Security for Public Deposits Act, "financial

institution" means banks, savings banks, savings and loan

associations and credit unions.
Okla. Stat. tit. 62, § 62-57.189 — OK Code / Title 62 / Section 62-57.189
Contracts - Supervision of expenditures
Status: in_force

The Director of the Office of Management and Enterprise Services

and the governing boards of the institutions of higher education are

authorized to enter into necessary contracts and exercise

supervision of the expenditure of funds authorized by Sections

57.181 through 57.191 of this title.
Okla. Stat. tit. 62, § 62-34.203 — OK Code / Title 62 / Section 62-34.203
Request for proposal for ongoing maintenance of desktop
Status: in_force

support and management systems.

A. By July 1, 2020, the Director of the Office of Management

and Enterprise Services shall initiate a request for proposal for

the ongoing maintenance of desktop support and management systems

for all state agencies. The Office of Management and Enterprise

Services 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 requests for proposal

must solicit quotations and must specify the importance of

guaranteed savings, price, quality, technical ability and

experience. The contract shall be awarded to the responsible

offeror whose proposal is determined to achieve guaranteed savings

to this state in comparison with the cost of current desktop support

and management as provided by the Information Services Division of

the Office of Management and Enterprise Services.

C. The Director of the Office of Management and Enterprise

Services shall promulgate rules and establish procedures to

implement the request for proposal pursuant to this section.
Okla. Stat. tit. 62, § 62-57.161 — OK Code / Title 62 / Section 62-57.161
Sale and issuance of bonds authorized - Amount
Status: in_force

The State of Oklahoma Building Bonds Commission is hereby

authorized and directed to sell and issue Series C of the State of

Oklahoma Building Bonds of 1968 in the principal sum of Two Million

Seven Hundred Fifty Thousand Dollars ($2,750,000.00) on or about

Oklahoma Statutes - Title 62. Public Finance Page 265

October 15, 1972, under the terms and conditions of Sections 57.121

through 57.136, Title 62 of the Oklahoma Statutes, except where such

terms and conditions are superseded by the provisions of this act.
Okla. Stat. tit. 62, § 62-333 — OK Code / Title 62 / Section 62-333
Building funds - Surplus used to reduce tax for sinking
Status: in_force

fund.

When the governing board of any county, city, town or school

district shall determine by proper resolution in writing that a

surplus exists in any building fund created under the provisions of

Oklahoma Statutes - Title 62. Public Finance Page 387

Section Ten (10), Article Ten (10), Oklahoma Constitution, not

required for the completion of the purpose for which said taxes were

levied and collected, or where said proposed construction has been

abandoned, said surplus shall be refunded to the taxpayers by the

use thereof by the county excise board to reduce the tax levy for

the sinking fund of the municipality for which the building fund was

created. Provided, that any portion of said building fund surplus

not required to eliminate a sinking fund tax levy for said

municipality shall be refunded to the taxpayers by the use thereof

to reduce the tax levy for the benefit of the general fund for the

same municipality.
Okla. Stat. tit. 62, § 62-41.4c — OK Code / Title 62 / Section 62-41.4c
Renumbered as § 34.73 of this title by Laws 2009, c
Status: in_force

441, § 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-374 — OK Code / Title 62 / Section 62-374
Civil actions - Limitations
Status: in_force

Civil actions filed by taxpayers for the recovery of real or

personal property can only be brought if the written demand upon the

proper officers is made by the required resident taxpayers within

two (2) years of the transfer of the property, and the civil suit is

filed within six (6) months following the refusal, failure, or

neglect of the proper officers to act upon the written demand.
Okla. Stat. tit. 62, § 62-263 — OK Code / Title 62 / Section 62-263
State checks or vouchers unpaid after 90 days -
Status: in_force

Cancellation.

All depository checks or vouchers issued after June 30, 1980, by

any state officer, department, board, commission, institution or

agency in payment of any obligation of the state which shall for any

cause remain unpaid and outstanding for a period of ninety (90) days

shall be canceled. Where the account originally charged can be

identified the cancellation shall have the effect of restoring to

the account the amount theretofore charged. Where the identity of

the account originally charged cannot now be ascertained, the amount

of such cancellation shall revert to and be credited to the General

Revenue Fund of the state.
Okla. Stat. tit. 62, § 62-485 — OK Code / Title 62 / Section 62-485
Warrants of certificates in excess of unencumbered sum
Status: in_force

appropriated forbidden - Issuance and requisites.

It shall be unlawful for the governing board of any city or town

to issue any warrant or certificate of indebtedness, in any form, in

payment of, or representing or acknowledging any account, claim or

indebtedness against such city or town, or to make any contracts

for, or incur any indebtedness against such city or town, in excess

of the amount then unexpended and unencumbered of the sum

appropriated for the specific item of estimated needs for such

purpose theretofore made, submitted, and approved, or authorized for

such purpose by a bond issue. All warrants upon the lawful

treasurer, for a city or town purpose, shall be issued upon the

order of the governing board thereof, drawn by its clerk, signed by

the chairman or lawfully designated presiding officer thereof, and

the clerk. Each warrant shall be coded in such manner as may be

necessary to designate the fund and appropriation upon which it is

drawn. The signatures of the presiding officer and clerk shall be

deemed as notification to the public that the warrant is for the

purpose and within the amount of the appropriation charged.
Okla. Stat. tit. 62, § 62-89.11 — OK Code / Title 62 / Section 62-89.11
Recording and auditing of transactions
Status: in_force

A. The State Treasurer shall develop and implement a system of

procedures to record and audit all transactions, including

electronic investment bidding transactions with outside financial

concerns. Said system of procedures shall be promulgated pursuant

to the Administrative Procedures Act and must be approved by the

Cash Management and Investment Oversight Commission not later than

October 1, 1994.

B. The Executive Review Committee must approve any proposed

destruction or changes of any transaction records, including

Oklahoma Statutes - Title 62. Public Finance Page 317

electronic investment bidding transactions. Any approved

destructions or changes of such transactions shall be detailed in

writing by the Executive Review Committee. The provisions of this

subsection shall not apply to corrections of scrivener error in

transaction records; however, for purposes of this section,

“scrivener error” shall not be defined to include any deliberate

change in a transaction record made:

1. For the purpose of causing a record to reflect a transaction

having occurred which did not in fact occur;

2. For the purpose of causing a record to reflect that a

transaction did not occur when in fact it did occur; or

3. Resulting in inaccuracy in a record which is material to

determining whether an act or omission occurred if such act or

omission constitutes a violation of any law, rule or requirement.

C. The State Auditor and Inspector, the Attorney General and

other authorized law enforcement officers are authorized to inspect

any transaction records or documents, including electronic

investment bidding transactions created pursuant to this section.

D. The willful interference with the inspections authorized by

subsection C of this section or the deliberate falsification or

destruction of transaction records, other than as permitted by

subsection B of this section, by the State Treasurer, any employee

of the State Treasurer, or any other person or firm shall, upon

conviction, be a Class D3 felony offense and shall be punishable by

imprisonment as provided for in subsections B through F of Section

20P of Title 21 of the Oklahoma Statutes, by a fine of Ten Thousand

Dollars ($10,000.00), or by both such imprisonment and fine, and

shall also constitute grounds for termination of such employee. A

violation of the requirements of subsection C of this section, shall

be grounds for disciplinary action, including termination from

employment.
Okla. Stat. tit. 62, § 62-57.43 — OK Code / Title 62 / Section 62-57.43
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, § 62-562 — OK Code / Title 62 / Section 62-562
Municipalities - Investment of sinking funds - Disposition
Status: in_force

of interest or dividends.

Notwithstanding the provisions of Section 399, Section 541 and

Section 544 of this Title 62, incorporated cities, towns or

municipalities possessing sinking funds may, when authorized so to

do by the lawfully constituted governing body of such city, town or

municipality, invest such sinking funds, when such funds are not

required for the payment or purchase of bonds, in bonds of the

United States, bonds of the State of Oklahoma or in any type of

interest or dividend-bearing account in a sum covered by the terms

of the Federal Deposit Insurance Corporation, or The Federal Savings

and Loan Insurance Corporation. Providing further, that any

interest or dividends accruing to the benefit of an incorporated

city, town or municipality from the investment of such sinking funds

may be credited to the general fund of such city, town or

municipality.

Oklahoma Statutes - Title 62. Public Finance Page 456
Okla. Stat. tit. 62, § 62-822 — OK Code / Title 62 / Section 62-822
Purpose – Contingent on approval of proposed
Status: in_force

constitutional amendment.

The Regional Economic Development District Act is intended to

implement and execute paragraph (h) of Section 35 of Article X of

the Constitution of the State of Oklahoma as amended pursuant to the

provisions of Enrolled House Bill No. 1198 of the 1st Session of the

48th Oklahoma Legislature by providing for the issuance of bonds by

municipalities and counties located within regional economic

development districts. None of the provisions of the Regional

Economic Development District Act shall be effective until the

amendment to Section 35 of Article X of the Constitution of the

State of Oklahoma as proposed by Enrolled House Bill No. 1198 of the

1st Session of the 48th Oklahoma Legislature is approved by the

people.
Okla. Stat. tit. 62, § 62-255.3 — OK Code / Title 62 / Section 62-255.3
Pandemic Relief Secondary Source Revolving Fund
Status: in_force

There is hereby created in the State Treasury until July 1,

2028, a revolving fund for the Oklahoma Department of Commerce to be

designated the "Pandemic Relief Secondary Source Revolving Fund".

Except as otherwise provided in this section, the fund shall be a

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

Oklahoma Statutes - Title 62. Public Finance Page 358

consist of all monies directed for deposit to the fund by law. All

monies accruing to the credit of said fund are hereby appropriated

and shall be awarded by the Oklahoma Department of Commerce through

grants to cover costs that are:

1. Directly associated with industrial parks, airparks, and

ports at least partially funded by an appropriation from the

Statewide Recovery Fund of the State Treasury created in Enrolled

House Bill No. 3349 of the 2nd Session of the 58th Oklahoma

Legislature, with priority given to projects partially funded by the

Pandemic Relief Primary Source Revolving Fund; and

2. Anticipated by the Department to be ineligible expenditures

for reimbursement under the provisions of the American Rescue Plan

Act of 2021.

Expenditures from said fund shall be made upon warrants issued

by the State Treasurer against claims filed as prescribed by law

with the Director of the Office of Management and Enterprise

Services for approval and payment.
Okla. Stat. tit. 62, § 62-34.49 — OK Code / Title 62 / Section 62-34.49
Allotment of appropriations - Exemption of Legislature
Status: in_force

A. Appropriations and/or federal funds shall be allotted for

each agency as provided by the language of the legislative

appropriation and other applicable state law. Items may be allotted

on a monthly, quarterly, semiannual or annual basis upon the written

request of the agency and the approval of the Director of the Office

of Management and Enterprise Services.

B. The request officer for each agency shall present the

proposed classification of the expenditures for that agency in such

manner as may be required by the Office of Management and Enterprise

Services.

C. Each agency shall be required to identify those items that

are for capital purposes in keeping with the definition of capital

projects promulgated by the Long-Range Capital Planning Commission.

Requests for capital appropriations and an agency's original budget

request shall be for capital projects that have been submitted to

the Long-Range Capital Planning Commission for review.

D. The Director of the Office of Management and Enterprise

Services shall review the requested allotments with respect to the

agency budget with each agency. The Director may require the agency

to change such allotments before approving them, if it is deemed

necessary, reserving a sufficient balance in the appropriation to

finance the operations of the agency for the remainder of any fiscal

year.

E. At the end of any fiscal year, the entire amount

appropriated to any agency must be allotted to the agency by the

Director of the Office of Management and Enterprise Services, except

where the estimated budget resources during any fiscal year are

insufficient to pay all of the appropriations of the state in full

for such year. The Director of the Office of Management and

Enterprise Services shall not allot to any agency during any fiscal

year, an amount which will be in excess of the amount of revenue

collected and allocated to appropriations made to such agency.

F. In the event of a failure of revenue, the Director of the

Office of Management and Enterprise Services shall control the

allotment to prevent obligations being incurred in excess of the

revenue to be collected. However, within each state fund where a

revenue failure occurs, the Director of the Office of Management and

Enterprise Services shall make all reductions apply to each state

agency or special appropriation made by the State Legislature, in

the ratio that its total appropriation for that fiscal year bears to

the total of all appropriations for that fiscal year, as provided in

Section 23 of Article X of the Oklahoma Constitution.

G. An allotment may be approved for any item for the entire

year or may be approved on a monthly, quarterly, or semiannual

basis, but in no case shall the aggregate of such allotments for any

agency exceed the total appropriation made available to such agency

Oklahoma Statutes - Title 62. Public Finance Page 87

for the fiscal year to which they apply. Each agency's request for

appropriation allotments shall show the amount required to finance

each item of the request for the entire year and on a quarterly

basis within each fiscal year.

H. The Director of the Office of Management and Enterprise

Services shall review each allotment request for the purpose of

determining whether:

1. The itemized requests are in accordance with the agency

budget;

2. The accounting classification is sufficient to reflect the

purposes for which the expenditures are to be made;

3. The current financial requirements of the agency justify the

monthly or quarterly allotment, reserving a sufficient balance to

finance the remaining months or quarters; and

4. The realization of the estimated revenues is sufficient to

allow the allotments to be made.

I. The Legislature shall be exempt from submitting any agency

budget or allotment request.
Okla. Stat. tit. 62, § 62-400 — OK Code / Title 62 / Section 62-400
Payment of bonds
Status: in_force

Whenever the bonds or interest coupons issued under Sections 391

et seq. of this title, shall become due, they shall be, on

presentation of coupon bonds, promptly paid by the proper disbursing

officer, out of the money in his hands collected for that purpose;

and he shall endorse upon the face of any bond or coupon paid by

him, in red ink, the word "paid", and the date of payment, and sign

his name thereto, and at each settlement he shall turn over the

bonds and coupons so paid and canceled, which shall be carefully

preserved or destroyed. Provided however, the presentation of a

registered bond shall not be required for payment of interest

Oklahoma Statutes - Title 62. Public Finance Page 415

thereon when payment of interest is otherwise provided by the terms

of the bond.
Okla. Stat. tit. 62, § 62-89.9 — OK Code / Title 62 / Section 62-89.9
Statements and affidavits regarding collusion activities
Status: in_force

and employee nepotism - Forms to be prescribed by Attorney General.

A. The Attorney General shall prescribe and provide forms to

the Office of the State Treasurer for sworn statements and

affidavits regarding collusion activities. Such sworn statement

form shall be similar to the sworn statement forms provided for in

Sections 85.22 and 85.23 of Title 74 of the Oklahoma Statutes. All

concerns, including but not limited to financial institutions and

investment companies, entering into an agreement or contract awarded

by the Office of the State Treasurer shall have on file with the

Office of the State Treasurer a current sworn statement.

B. The Attorney General shall prescribe and provide forms to

the Office of the State Treasurer for sworn statements and

affidavits regarding employee nepotism. Such sworn statement and

affidavit shall state that the Office of the State Treasurer

employee is not related by affinity or consanguinity within the

third degree to any person offering investment services to the

Office of the State Treasurer. The statement and affidavit shall be

signed by each employee of the Office of the State Treasurer

employed prior to the effective date of this act and by any new

employee of the Office of the State Treasurer hired after the

effective date of this act.
Okla. Stat. tit. 62, § 62-891.5 — OK Code / Title 62 / Section 62-891.5
Applicability of Credit Enhancement Reserve Fund Act -
Status: in_force

Participation in Community Economic Development Pooled Finance

Revolving Fund.

A. To the extent that the provisions of the Credit Enhancement

Reserve Fund Act are consistent with the provisions of the Oklahoma

Community Economic Development Pooled Finance Act, the provisions of

the Credit Enhancement Reserve Fund Act shall be applicable to a

pooled financing.

B. The Credit Enhancement Reserve Fund shall not be utilized in

support of any pooled financing obligations issued pursuant to this

act prior to the full use of any revenues committed to the repayment

of any such obligations pursuant to an agreement or agreements among

the participating local government entities or for-profit business

entity for the repayment of principal, interest and other costs of

the pooled financing.

C. Agreements entered into pursuant to this act may provide for

one or more of the participating local government entities to make

deposits in the Community Economic Development Pooled Finance

Revolving Fund in excess of the amount originally provided for in

any agreement authorized by this act in order to compensate for the

payments otherwise required to be made by any other participating

local government entity which is a party to the same agreement.

Oklahoma Statutes - Title 62. Public Finance Page 586

D. If any participating local government entity does not make

deposits in the Community Economic Development Pooled Finance

Revolving Fund as originally required by an agreement authorized by

this act, such local government entity shall be required to

compensate the other participating local government entity or

entities pursuant to the terms of the agreement for the amounts paid

on its behalf, including interest.

E. Any local government entity that does not make deposits in

the Community Economic Development Pooled Finance Revolving Fund

according to the terms of an agreement authorized by this act shall

be prohibited from participation in any other pooled financing

otherwise authorized by this act for a period of five (5) years from

the date of the first date upon which a required deposit to the

Community Economic Development Pooled Finance Revolving Fund is not

made or for a period of five (5) years from the first date upon

which a payment is made on a timely basis, but for less than the

amount required pursuant to the terms of an agreement authorized

pursuant to this act.
Okla. Stat. tit. 62, § 62-165 — OK Code / Title 62 / Section 62-165
Educational and eleemosynary institutions
Status: in_force

The revolving funds for the Southern Oklahoma Resource Center of

Pauls Valley, Oklahoma, the Oklahoma Geological Survey, the Oklahoma

School for the Deaf, located at Sulphur, Oklahoma, the Oklahoma

School for the Blind, located at Muskogee, Oklahoma, the University

of Science and Arts of Oklahoma, located at Chickasha, Oklahoma,

Griffin Memorial Hospital, located at Norman, Oklahoma, Western

State Psychiatric Center, located at Fort Supply, Oklahoma, Eastern

State Hospital, located at Vinita, Oklahoma, the Northern Oklahoma

Resource Center of Enid, located at Enid, Oklahoma, the Whitaker

State Children's Home, located at Pryor, Oklahoma, and the Taft

State Children's Home, located at Taft, Oklahoma, and its

auxiliaries, shall consist of all appropriations made for such

purpose and as a part thereof and include all earnings or profits in

the conduct and management of said institutions and carrying on the

things or business by such institutions as may be authorized by law.

The revolving funds for the Oklahoma School for the Deaf, located at

Sulphur, Oklahoma; the Oklahoma School for the Blind, located at

Muskogee, Oklahoma; and the State Department of Rehabilitation

Services shall be invested in whatever instruments the State

Treasurer is authorized by law to invest in. Interest earned shall

be retained by the revolving funds for the Oklahoma School for the

Deaf, the Oklahoma School for the Blind, and the State Department of

Rehabilitation Services.
Okla. Stat. tit. 62, § 62-50 — OK Code / Title 62 / Section 62-50
Tobacco Settlement Fund - Monies
Status: in_force

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

fund to be known and designated as the Tobacco Settlement Fund, into

which fund shall be deposited:

1. All monies received by the state or any official, agency or

department of the state in settlement of claims by the state against

tobacco manufacturers during the month of April 2000;

Oklahoma Statutes - Title 62. Public Finance Page 193

2. All monies received by the state or any official, agency or

department of the state in settlement of claims by the state against

tobacco manufacturers during fiscal year 2001;

3. That portion of monies apportioned to the Tobacco Settlement

Fund pursuant to the provisions of subsection B of this section; and

4. Such other monies as may be appropriated or otherwise

directed thereto by law.

The Tobacco Settlement Fund shall be a continuing fund, not

subject to fiscal year limitations. No monies shall be paid out of

such fund except pursuant to appropriation by the Legislature.

B. Unless the provisions of subsection C of this section become

operative as law, monies received by the state or any official,

agency or department of the state in settlement of claims by the

state against tobacco manufacturers not otherwise apportioned

pursuant to the provisions of Section 40 of Article X of the

Oklahoma Constitution shall be apportioned as follows:

1. Seventy-five percent (75%) shall be apportioned to the

Tobacco Settlement Fund; and

2. Twenty-five percent (25%) shall be apportioned to the

Attorney General's Evidence Fund.

C. Monies received by the state or any official, agency or

department of the state in settlement of claims by the state against

tobacco manufacturers not otherwise apportioned pursuant to the

provisions of Section 40 of Article X of the Oklahoma Constitution,

if the provisions of the State Question as contained in Enrolled

Senate Joint Resolution No. 27 of the 2nd Session of the 57th

Oklahoma Legislature are approved by the people, shall be

apportioned as follows:

1. Ninety-one and sixty-seven hundredths percent (91.67%) shall

be apportioned to the Tobacco Settlement Fund; and

2. Eight and thirty-three hundredths percent (8.33%) shall be

apportioned to the Attorney General's Evidence Fund.
Okla. Stat. tit. 62, § 62-41.29e — OK Code / Title 62 / Section 62-41.29e
Renumbered as § 34.92 of this title by Laws 2009, c
Status: in_force

441, § 64, eff. July 1, 2009.
Okla. Stat. tit. 62, § 62-451 — OK Code / Title 62 / Section 62-451
Outstanding tax sale certificates not affected
Status: in_force

Such resolution and reduction shall not be effective as to

outstanding tax sale certificates in existence and owned by some

person other than the county.
Okla. Stat. tit. 62, § 62-91.2 — OK Code / Title 62 / Section 62-91.2
Purpose
Status: in_force

A. Oklahoma's rural areas suffer from a lack of interim

financing for builder-developers of housing in rural areas,

inadequate profit incentives for builder-developers, economy of

scale problems which work against economics of developing projects

consistent with local market needs, and lack of available interim

financing from local lenders to fund land acquisition, site

development, or construction of housing in rural areas.

B. It is the purpose of the Oklahoma Rural and Affordable

Housing Linked Deposit Act to provide funding for eligible rural

housing developers to build affordable housing in rural Oklahoma.

Oklahoma Statutes - Title 62. Public Finance Page 324

It is the specific intent of the Legislature that any funding

provided to eligible rural housing developers for the purpose of

building affordable rural housing shall assist in the development of

Oklahoma's rural areas in order to broaden Oklahoma's economic base.

C. The Oklahoma Rural and Affordable Housing Linked Deposit Act

will meet rural housing needs by creating a revolving capacity of no

more than Twenty-five Million Dollars ($25,000,000.00) to enable

eligible rural housing developers to finance land acquisition, site

development, rehabilitation, and construction of single-family or

multifamily housing units in rural areas. For purposes of

determining whether this twenty-five-million-dollar maximum is met,

the State Treasurer shall consider amounts approved for link deposit

participation, whether or not a borrower has actually used the

entire amount approved.
Okla. Stat. tit. 62, § 62-120.2 — OK Code / Title 62 / Section 62-120.2
Deposit of cash proceeds in revolving fund
Status: in_force

All cash amounts received by such state department, institution

or agency from the sale of outworn, outmoded, obsolescent, or

obsolete equipment shall be immediately deposited in the revolving

fund of the department, institution or agency, to be used for the

purchase of equipment comparable in kind and purpose to that sold.
Okla. Stat. tit. 62, § 62-604 — OK Code / Title 62 / Section 62-604
Use on a public security with intent to defraud
Status: in_force

Any person who with intent to defraud uses on a public security:

1. A facsimile signature, or any reproduction of it, of any

authorized officer; or

2. Any facsimile seal, or any reproduction of it, of this state

or of any of its departments, agencies, or other instrumentalities

or of any of its political subdivisions or districts,

is guilty of a Class D1 felony offense and shall be punishable as

provided for in subsections B through F of Section 20N of Title 21

of the Oklahoma Statutes.
Okla. Stat. tit. 62, § 62-690.20 — OK Code / Title 62 / Section 62-690.20
Limitation upon benefits already conferred
Status: in_force

The provisions of this act shall not operate as a limitation

upon any benefit conferred upon an enterprise prior to July 1, 1999.

An enterprise which has previously qualified for a benefit or

incentive pursuant to Section 690.1 et seq. of Title 62 of the

Oklahoma Statutes prior to July 1, 1999, or which has expended money

or undertaken an obligation or made a location decision in reliance

upon the conditions prescribed by Section 690.1 et seq. of Title 62

of the Oklahoma Statutes or other provisions of law related to

benefits available based upon location of business activity within

an enterprise zone shall continue to be entitled to all such

benefits or incentives on and after July 1, 1999.
Okla. Stat. tit. 62, § 62-876 — OK Code / Title 62 / Section 62-876
Acquisition of real property - Sale or lease to developer
Status: in_force

Oklahoma Statutes - Title 62. Public Finance Page 574

A. Any governing body which has established a rural housing

incentive district as provided in the Oklahoma Rural Housing

Incentive District Act may purchase or otherwise acquire real

property; however, the property may not be acquired through the

exercise of the power of eminent domain.

B. Any property acquired by a municipality or county under the

Oklahoma Rural Housing Incentive District Act may be sold or leased

to any developer, in accordance with the rural housing incentive

project plan and under such conditions as shall have been agreed to

prior to the adoption of the project plan. The municipality or

county and the developer may agree to any additional terms and

conditions, but if the developer requests to be released from any

obligations agreed to and embodied in the project plan, such release

shall constitute a substantial change and subject to the

requirements provided in subsection B of Section 6 of this act.
Okla. Stat. tit. 62, § 62-155 — OK Code / Title 62 / Section 62-155
State boards, commissions and departments - Revolving
Status: in_force

funds created.

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

fund for each of the following state boards, commissions, and

departments:

1. The Board of Governors of the Licensed Architects, Landscape

Architects and Registered Commercial Interior Designers of Oklahoma;

2. Oklahoma Funeral Board;

3. Board of Podiatric Medical Examiners;

4. Board of Chiropractic Examiners;

5. State Board of Medical Licensure and Supervision;

Oklahoma Statutes - Title 62. Public Finance Page 337

6. Oklahoma Board of Nursing;

7. State Board of Osteopathic Examiners;

8. State Board of Pharmacy;

9. State Board of Licensed Social Workers;

10. Oklahoma New Motor Vehicle Commission;

11. Oklahoma Real Estate Commission; and

12. Santa Claus Commission.

B. Each revolving fund shall consist of all monies received by

the boards, commissions, and departments, pursuant to statutory

authority, but not including appropriated funds. These revolving

funds shall be continuing funds, not subject to fiscal year

limitations and shall be under the control and management of the

administrative authorities of the respective boards, commissions, or

departments.

C. Expenditures from the revolving funds shall be made pursuant

to the laws of the state and the statutes relating to the boards,

commissions, and departments, and without legislative appropriation.

Warrants for expenditures from the revolving funds shall be drawn by

the State Treasurer, based on claims signed by an authorized

employee or employees of the respective boards, commissions, or

departments and approved for payment by the Director of the Office

of Management and Enterprise Services.
Okla. Stat. tit. 62, § 62-57.22 — OK Code / Title 62 / Section 62-57.22
Investment - Approval as collateral security
Status: in_force

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

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

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

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, § 62-71.2 — OK Code / Title 62 / Section 62-71.2
State Treasurer purchasing authorization - Exemption
Status: in_force

The State Treasurer is authorized to purchase software,

hardware, and associated services to assist the State Treasurer in

the Treasurer's duties related to the control, custody, deposit,

transfer disbursement, management and investment of funds and

securities held by the state. Software, hardware, and associated

services shall be chosen by a solicitation of proposals on a

competitive basis, but shall be exempt from the provisions of The

Oklahoma Central Purchasing Act. Software, hardware and associated

services purchases by the State Treasurer for these purposes shall

not require the authorization of the Director of the Office of

Management and Enterprise Services.
Okla. Stat. tit. 62, § 62-2104 — OK Code / Title 62 / Section 62-2104
Application form - Approval - Conditions of grant -
Status: in_force

Maximum amount - Matching funds - Time limit for completion of

projects.

A. Communities making application for a grant from the

Industrial Facilities Development Fund shall use a form to be

prescribed by the Oklahoma Department of Commerce.

B. The Department shall have a period of sixty (60) days from

the date an application is received in order to evaluate the

application and to inform the applicant whether the application has

been approved or rejected. If the application is rejected, the

Department shall state the reason for the rejection.

C. 1. Upon approval of an application, the Department shall

cause the amount of the grant to be paid to the applicant. All

grants made pursuant to this act shall be paid to the community and

shall not be paid directly to the legal entity engaged in the

manufacturing activity.

2. The grant may only be used for the development,

construction, or improvement of that portion of the project that

will be owned by the community or a public trust of which the

community is the beneficiary. Provided, however, the community or

the public trust, as the case may be, may enter into a lease

agreement with an establishment for long-term usage of any portion

of the project funded through a grant made pursuant to this act.

D. No community shall be eligible for an award of a grant in

excess of One Hundred Fifty Thousand Dollars ($150,000.00) in any

one (1) fiscal year.

E. The community making application for a grant shall

demonstrate in the application either that the community has already

acquired at least twenty-five percent (25%) of the funds required

for the total project cost or that a legally enforceable commitment

exists as of the application date which will result in the receipt

of at least twenty-five percent (25%) of the funds required for the

total project cost within ninety (90) days from the date the

application is received.

F. Any project for which a grant is provided from the

Industrial Facilities Development Fund shall be completed within six

(6) months from the date the grant is paid to the applicant pursuant

to this section. If an industrial facility has not been completed

within the time period prescribed by this subsection, the grant paid

Oklahoma Statutes - Title 62. Public Finance Page 634

to the applicant shall be repaid to the Department and shall be

redeposited into the Industrial Facilities Development Fund.