reglab/housing_qa huggingface dataset:
62 OK Stat § 62-870 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-870. Short title.

|This act shall be known and may be cited as the “Oklahoma Rural Housing Incentive District Act”. |Added by Laws 1999, c. 140, § 1, eff. Nov. 1, 1999.
62 OK Stat § 62-871 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-871. Definitions.

|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 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; and8. “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.Added by Laws 1999, c. 140, § 2, eff. Nov. 1, 1999.
62 OK Stat § 62-872 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-872. Purpose of act.

|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. |Added by Laws 1999, c. 140, § 3, eff. Nov. 1, 1999.
62 OK Stat § 62-873 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-873. Designation of rural housing incentive districts - Authority of municipality or county - Findings and determinations - Review by Executive Director of Oklahoma Housing Finance Agency.

|A. The governing body of any municipality or county is hereby authorized to designate rural housing incentive districts within such municipality or county. Any municipal governing body may designate one or more such districts in such municipality, and any county governing body may designate one or more such districts in any part of the unincorporated territory of such county. Prior to making such a designation, the governing body shall conduct a housing needs analysis to determine what, if any, housing needs exist within its community. After conducting the analysis, the governing body shall adopt a resolution containing a legal description of the proposed district, a map depicting the existing parcels of real estate in the proposed district, and a statement of the following findings and determinations: |1. There is a shortage of quality housing of various price ranges in the municipality or county despite the best efforts of public and private housing developers;2. The shortage of quality housing can be expected to persist and additional financial incentives are necessary in order to encourage the private sector to construct or renovate housing in the municipality or county;3. The shortage of quality housing is a substantial deterrent to the future economic growth and development of such municipality or county; and4. The future economic well-being of the municipality or county depends on the governing body providing additional incentives for the construction or renovation of quality housing in such municipality or county.B. The resolution containing the findings contained in subsection A of this section shall be published at least once in a legal newspaper of general circulation within the municipality or county.C. Upon publication of the resolution as provided in subsection B of this section, the governing body shall send a certified copy of the resolution to the Executive Director of the Oklahoma Housing Finance Agency, requesting that the Executive Director review the resolution and advise the governing body whether he or she agrees with the findings contained therein. If the Executive Director advises the governing body in writing that he or she agrees with each of the findings of the governing body, the governing body may proceed to establish the district as set forth in the Oklahoma Rural Housing Incentive District Act. If the Executive Director fails to agree with the findings, the Executive Director shall advise the governing body in writing of the specific reasons therefor.Added by Laws 1999, c. 140, § 4, eff. Nov. 1, 1999.
62 OK Stat § 62-875 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-875. Public hearing - Presentation of proposed project plan - Ordinance or resolution establishing district - Determination of adverse effect.

|A. At the public hearing, a representative of the municipality or county shall present the proposed project plan for the development or renovation of housing in the proposed district. Each project proposed for the district shall be identified and explained. At the hearing, the developer or developers that have contracted with the municipality to undertake the project shall be identified and presented in person or through such developer's representative. Following the presentation, all interested persons shall be given an opportunity to be heard. The governing body for good cause shown may recess such hearing to a time and date certain, which shall be fixed in the presence of persons in attendance at the hearing. |B. Upon the conclusion of the public hearing, the governing body may adopt the project plan for the district and may establish the district by ordinance or, in the case of any county, by resolution. The boundaries of such district shall not include any area not designated in the notice required by Section 5 of this act. Any addition of area to the district or any substantial change to the project plan shall be subject to the same procedure for public notice and hearing as required for the initial establishment of the district.C. The ordinance or resolution establishing the district shall be null and void if, within thirty (30) days following the conclusion of the hearing:1. The board of any school district levying taxes on such property determines by resolution that the proposed district will have an adverse effect on such school district;2. The governing body of any municipality located within three (3) miles of the district proposed to be established by a county determines by ordinance that the proposed district will have an adverse effect on such municipality; or3. The board of county commissioners of the county in which a municipal governing body proposes to establish such a district determines by resolution that the proposed district will have an adverse effect on such county.Added by Laws 1999, c. 140, § 6, eff. Nov. 1, 1999.
62 OK Stat § 62-876 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-876. Acquisition of real property - Sale or lease to developer.

|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.Added by Laws 1999, c. 140, § 7, eff. Nov. 1, 1999.
62 OK Stat § 62-878 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-878. Use of bond proceeds.

|A. Any municipality or county which has established a rural housing incentive district may use the proceeds of special obligation bonds issued under Section 8 of this act, or any uncommitted funds derived from those sources of revenue set forth in subsection A of Section 8 of this act, to implement specific projects identified within the rural housing incentive district project plan including, without limitation: |1. Acquisition of property within the specific project area or areas as provided in Section 7 of this act;2. Payment of relocation assistance;3. Site preparation;4. Sanitary and storm sewers and lift stations;5. Drainage conduits, channels and levees;6. Street grading, paving, graveling, macadamizing, curbing, guttering and surfacing;7. Street lighting fixtures, connection and facilities;8. Underground gas, water, heat, and electrical services and connections located within the public right-of-way;9. Sidewalks; and10. Water mains and extensions.B. None of the proceeds from the sale of special obligation bonds issued under Section 8 of this act shall be used for the construction of buildings or other structures to be owned by or to be leased to any developer of a residential housing project within the district.Added by Laws 1999, c. 140, § 9, eff. Nov. 1, 1999.
62 OK Stat § 62-880 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-880. Transmission of project plan documents.

|After the adoption by the governing body of a project plan which contains the provisions required by Section 5 of this act, the clerk of the municipality or county shall transmit a copy of the description of the land within the district, a copy of the ordinance or resolution adopting the project plan, and a map or plat indicating the boundaries of the district, to the clerk, assessor, and treasurer of the county in which the district is located and to the governing bodies of any taxing subdivision which levy taxes upon any property in the district. Such documents shall be transmitted as promptly as practicable following the adoption or modification of the project plan, but in any event, on or before January 1 of the year following the adoption or modification of the project plan. |Added by Laws 1999, c. 140, § 11, eff. Nov. 1, 1999.
62 OK Stat § 62-881 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-881. Short title.

|This act shall be known and may be cited as the “Oklahoma Housing Reinvestment Program Act”. |Added by Laws 2002, c. 344 , § 1, eff. Jan. 1, 2003.
62 OK Stat § 62-882 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-882. Definitions.

|As used in this act: |1. “Governing body” means the city council of a city, the board of trustees of a town or the board of county commissioners of a county;2. “Housing reinvestment district” means a district created pursuant to the provisions of Section 5 of this act; and3. “Taxing entity” means a municipality, county, school district, political subdivision or other local entity which levies ad valorem taxes.Added by Laws 2002, c. 344 , § 2, eff. Jan. 1, 2003.
62 OK Stat § 62-883 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-883. Purpose.

|It is hereby declared to be the purpose of the Oklahoma Housing Reinvestment Program Act to encourage reinvestment in housing in those areas of this state for which a demonstrated need for housing exists but is not met through existing public and private efforts by authorizing local governmental entities to provide abatement of ad valorem taxes during the first years after new or remodeled housing construction. |Added by Laws 2002, c. 344 , § 3, eff. Jan. 1, 2003.
62 OK Stat § 62-884 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-884. Ad valorem tax exemption - Effect on school state aid.

|Pursuant to the provisions of Section 6C of Article X of the Oklahoma Constitution, a municipality or county may provide an exemption from ad valorem taxes in a housing reinvestment district pursuant to the provisions of this act. A school district or taxing entity other than a municipality or county may provide an exemption from ad valorem taxes in a housing reinvestment district pursuant to the provisions of this act through a contractual arrangement with the municipal or county governing body. The loss of revenue to a school district from any such exemption from ad valorem taxes shall be borne by the school district and such exempted revenue shall be treated as being received by the school district for purposes of computation of the school district’s state aid pursuant to the provisions of Article 18 of Title 70 of the Oklahoma Statutes. |Added by Laws 2002, c. 344 , § 4, eff. Jan. 1, 2003.
62 OK Stat § 62-887 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-887. Expiration of act.

|The provisions of the Oklahoma Housing Reinvestment Program Act shall cease to be effective January 1, 2013; provided, any exemption granted pursuant to the Oklahoma Housing Reinvestment Program Act prior to January 1, 2013, which will extend for a period of time after such date shall remain eligible for such exemption for the period of time and under the terms and conditions under which it was originally granted. |Added by Laws 2002, c. 344 , § 7, eff. Jan. 1, 2003.
62 OK Stat § 62-891.1 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-891.1. Short title.

|This act shall be known and may be cited as the “Oklahoma Community Economic Development Pooled Finance Act”. |Added by Laws 2009, c. 309, § 1, eff. July 1, 2009.
62 OK Stat § 62-891.2 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-891.2. Purpose of act.

|The Legislature finds investments for the purpose of economic development of the State of Oklahoma, including but not limited to authorized economic development projects for the purpose of attracting private investment and job creation, public infrastructure to aid development such as roads, bridges, water treatment, water storage and water delivery facilities, surface water management assets, sanitary sewer facilities and related assets, and other assets owned or maintained by the counties, cities and towns of the state are essential to a safe and productive environment for the residents of the state and visitors to the state. The Legislature further finds that existing fiscal resources at the local government level are not always sufficient to maintain the highest possible standards of safety or quality and that it is an essential function of state government to ensure that critical infrastructure is constructed, maintained and repaired in conformity with such highest possible standards. The Legislature finds that encouraging local governments to cooperate to develop regional infrastructure and economic development projects will most economically and efficiently serve the needs of the state’s citizens. The Legislature finds that the methods of public finance provided for in the Oklahoma Community Economic Development Pooled Finance Act are in furtherance of an essential public and state governmental function. |Added by Laws 2009, c. 309, § 2, eff. July 1, 2009.
62 OK Stat § 62-891.4 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-891.4. Applicability of Oklahoma Development Finance Authority 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. |Added by Laws 2009, c. 309, § 4, eff. July 1, 2009.
62 OK Stat § 62-891.5 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-891.5. Applicability of Credit Enhancement Reserve Fund Act - 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.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.Added by Laws 2009, c. 309, § 5, eff. July 1, 2009.
62 OK Stat § 62-891.6 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-891.6. Bonds and other obligations.

|A. No bonds or other obligations issued by the Authority pursuant to the provisions of the Oklahoma Community Economic Development Pooled Finance Act shall be considered or deemed to be general obligations of the State of Oklahoma. Such bonds or other obligations shall be special and limited obligations the repayment of which shall be derived exclusively from the revenues accruing to the credit of the Community Economic Development Pooled Finance Revolving Fund created pursuant to Section 15 of this act. |B. The obligations issued by the Authority pursuant to this act shall have a maximum maturity of twenty-five (25) years.C. The average coupon rate for any obligations issued by the Authority pursuant to this act shall not exceed fourteen percent (14%) per annum.Added by Laws 2009, c. 309, § 6, eff. July 1, 2009.
62 OK Stat § 62-891.7 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-891.7. Infrastructure Pool.

|A. The Authority shall be authorized to act as a conduit issuer for the benefit of two or more eligible local government entities for an authorized infrastructure project using the Infrastructure Pool. |B. The Authority shall be authorized to issue its obligations in order to provide net proceeds on a pooled basis not to exceed One Hundred Million Dollars ($100,000,000.00) for the Infrastructure Pool. The Authority shall be authorized to issue obligations within the limit prescribed by this subsection based upon the defeasance of previously issued obligations.C. Except as otherwise provided by subsection F of this section, proceeds from the Infrastructure Pool shall be for the purpose of providing financing for two or more eligible local government entities for an authorized infrastructure project located in this state involving a pooled financing.D. Sixty-five percent (65%) of the net proceeds from the Infrastructure Pool shall be used by the Authority for the benefit of eligible local government entities the population of which, according to the most recent Federal Decennial Census, does not exceed three hundred thousand (300,000) persons for any participating municipality.E. Thirty-five percent (35%) of the net proceeds from the Infrastructure Pool may be used by the Authority for the benefit of any and all eligible local government entities regardless of population.F. The proceeds from the Infrastructure Pool may also be used for the purposes authorized by Section 891.8 of this title.Added by Laws 2009, c. 309, § 7, eff. July 1, 2009. Amended by Laws 2010, c. 285, § 1; Laws 2013, c. 179, § 2, eff. Nov. 1, 2013.
62 OK Stat § 62-891.8 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-891.8. Economic Development Pool.

|A. The Authority shall be authorized to act as a conduit issuer for the benefit of one or more eligible local government entities or for the benefit of one or more local government entities in conjunction with a for-profit business entity for an authorized economic development project using the Economic Development Pool. |B. The Authority shall be authorized to issue its obligations in order to provide net proceeds on a pooled basis not to exceed One Hundred Million Dollars ($100,000,000.00) for the Economic Development Pool. The Authority shall be authorized to issue obligations within the limit prescribed by this subsection based upon the defeasance of previously issued obligations.C. Except as otherwise provided by subsection G of this section, proceeds from the Economic Development Pool shall be for the purpose of providing financing for an eligible local government entity or entities or for the benefit of a business entity for an authorized economic development project located in this state.D. Sixty-five percent (65%) of the net proceeds from the Economic Development Pool shall be used by the Authority for the benefit of eligible local government entities the population of which, according to the most recent Federal Decennial Census, does not exceed three hundred thousand (300,000) persons for any participating municipality.E. Thirty-five percent (35%) of the net proceeds from the Economic Development Pool may be used by the Authority for the benefit of any and all eligible local government entities regardless of population.F. Obligations issued pursuant to the provisions of this section may be issued on a tax-exempt basis if the applicable provisions of federal law governing private activity bonds allow such issuance. Otherwise, the obligations issued pursuant to the provisions of this section shall be issued on a taxable basis.G. The proceeds from the Economic Development Pool may also be used for the purposes authorized by Section 891.7 of this title.Added by Laws 2009, c. 309, § 8, eff. July 1, 2009. Amended by Laws 2010, c. 285, § 2; Laws 2013, c. 179, § 3, eff. Nov. 1, 2013.