reglab/housing_qa huggingface dataset:
62 OK Stat § 62-690.11 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-690.11. Issuance of bonds - Sale - Disposition of proceeds - Nature of bonds - Payment of principal and interest.

|A. If at the election three-fifths of the voters of each county or city or town voting thereon shall vote in favor of the issuance of the bonds, the boards of county commissioners or the governing bodies of each city and town of the enterprise district shall proceed at once with the issuing of the bonds and shall deposit them with the treasurer of the Authority. Said election shall be held in accordance with the general election laws of the State of Oklahoma. |B. The bonds shall be sold by competitive bid. The Authority shall award the purchase of the bonds to the highest responsible bidder, but shall have the right to reject any and all bids. The Authority shall in no event sell any of the bonds for less than par with accrued interest.C. All proceeds derived from the sale of said bonds shall be deposited in an "Enterprise District Loan Fund" by the treasurer of the Authority.D. All such bonds shall be general obligation bonds, backed by the full faith and credit of the member counties, cities or towns of the enterprise district, and there is hereby pledged to the payment of principal and interest of such bonds:1. The net proceeds from repayment of loans and interest received thereon;2. Any monies available from other funds of the counties not otherwise obligated; and3. The proceeds of any tax imposed for such purpose in the event funds available for use and pledge under paragraphs 1 and 2 of this subsection should be insufficient.Added by Laws 1983, c. 168, § 11, emerg. eff. June 6, 1983. Amended by Laws 1985, c. 174, § 9, emerg. eff. June 18, 1985; Laws 1990, c. 321, § 4, emerg. eff. May 30, 1990.
62 OK Stat § 62-690.12 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-690.12. Venture capital loan program.

|The Authority shall establish and administer a program of venture capital loans to enterprises seeking to establish or expand facilities within an enterprise district. As part of such program, it shall be the duty of the Authority to solicit written proposals from enterprises seeking to establish or expand facilities in the enterprise district. Any proposal received by the Authority shall be submitted to the Oklahoma Department of Commerce for comments and recommendations. |Added by Laws 1983, c. 168, § 12, emerg. eff. June 6, 1983. Amended by Laws 1986, c. 207, § 59, operative July 1, 1986.
62 OK Stat § 62-690.13 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-690.13. Loan application - Contents.

|Prior to the loaning of any funds to an enterprise for building and equipment, the Authority shall receive from such enterprise a loan application in the form adopted by the Authority which shall contain, without being limited to, the following provisions: |1. A general description of the project and a general description of the purpose for which the project is to be established;2. A legal description of all real estate necessary for the project;3. Such plans and other documents as may be required to show the type, structure and general character of the project;4. A general description of the types and categories of skills, and the number of employees to be employed in the operation of the project;5. Estimates of costs of the project;6. A general description and statement of value of any property, real or personal, of the enterprise applied or to be applied to the project;7. A statement of cash funds which are to be applied to the project by the enterprise;8. Evidence that the project will not cause the removal of an industrial or manufacturing plant or facility from one area of the state to another area of the state, or replace an existing facility; and9. Any additional evidence which the Authority may deem pertinent to the determination of the probable successful operation of the project at the selected location, and indicating that a substantial increase in employment and payrolls will probably result from the granting of such loans.Added by Laws 1983, c. 168, § 13, emerg. eff. June 6, 1983.
62 OK Stat § 62-690.14 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-690.14. Loan hearings and examinations - Grant of loan.

|The Authority shall hold such hearings and examinations as to each loan application received as shall be necessary to determine whether the public purposes of this act will be accomplished by the granting of loans requested. When the Authority shall have determined the facts to be favorable as to any loan application, it is hereby authorized and empowered to grant a loan to an enterprise in the manner and to the extent provided in this act. |Added by Laws 1983, c. 168, § 14, emerg. eff. June 6, 1983.
62 OK Stat § 62-690.15 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-690.15. Contract to loan - Security - Foreclosure and other 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 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.Added by Laws 1983, c. 168, § 15, emerg. eff. June 6, 1983.
62 OK Stat § 62-690.17 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-690.17. Audit of accounts and books of Authority.

|The accounts and books of the Authority, including its receipts, disbursements, contracts, mortgages, investments and other matters relating to its finances, operations and affairs shall be examined and audited annually by the State Auditor and Inspector as provided by law. |Added by Laws 1983, c. 168, § 17, emerg. eff. June 6, 1983.
62 OK Stat § 62-690.18 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-690.18. Priority Enterprise Zones.

|The Oklahoma Department of Commerce shall select a number of enterprise zones whether county, municipal or federal for which the state may provide additional resources or programs. Such enterprise zones shall be known as Priority Enterprise Zones. The criteria for selection of the Priority Enterprise Zones shall be developed by the Oklahoma Department of Commerce. The criteria for selection may include but shall not be limited to the degree of need, the likelihood of success in attracting new economic growth, and the evidence of local commitment. The criteria for selection of Priority Enterprise Zones shall be subject to the Administrative Procedures Act. |B. An enterprise zone that is selected as a Priority Enterprise Zone, regardless of its change in statistics, shall continue in its status as a Priority Enterprise Zone for a minimum of three (3) years.C. The Oklahoma Department of Commerce shall work with other agencies, entities, and groups to assist Priority Enterprise Zones in obtaining other services vital to the economic recovery of such zones.Added by Laws 1990, c. 321, § 3, emerg. eff. May 30, 1990.
62 OK Stat § 62-690.19 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-690.19. Annual performance report.

|The Oklahoma Department of Commerce shall produce an annual report by October 15 of each year for the Governor, the Speaker of the House of Representatives and the President Pro Tempore of the Senate regarding the performance of the zones. Information in the report shall include but not be limited to the amount of tax credits granted, jobs added, if known, and the impact on unemployment rates within the zones. The information concerning the tax credits shall be provided to the Department of Commerce by the Oklahoma Tax Commission. The report shall include those zones in existence prior to the passage of this act. |The county commissioners, municipal governing body or enterprise district management authority of any enterprise zone, or enterprise district shall submit to the Department of Commerce the name and address of the individual in charge of supervising such enterprise zones by July 1 of each year.Added by Laws 1990, c. 321, § 6, emerg. eff. May 30, 1990. Amended by Laws 1991, c. 334, § 2, eff. Sept. 1, 1991.
62 OK Stat § 62-690.20 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-690.20. Limitation upon benefits already conferred.

|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. |Added by Laws 1998, c. 349, § 4, eff. July 1, 2000.NOTE: Laws 1999, c. 382, § 5, eff. July 1, 1999, amended the effective date of Laws 1998, c. 349, § 4 from July 1, 1999 to July 1, 2000.
62 OK Stat § 62-695.1 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-695.1. Short title.

|This act shall be known and may be cited as the "Oklahoma Bond Oversight and Reform Act". |Added by Laws 1987, c. 222, § 91, operative July 1, 1987. Amended by Laws 2012, c. 275, § 1, eff. Nov. 1, 2012.
62 OK Stat § 62-695.2 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-695.2. Legislative findings and declarations.

|The Legislature hereby finds and declares that there is a need to establish procedures for the efficient sale and issuance of bonds or other obligations by State Governmental Entities which are hereby declared to be essential to the economic well-being of the state. The Legislature further declares that there are hereby adopted procedures, requirements and methods allowing for significant systematic oversight of State Governmental Entity issuers of bonds or other obligations. The Legislature further declares such oversight is essential to protect the public welfare of the State of Oklahoma. |Added by Laws 1987, c. 222, § 92, operative July 1, 1987. Amended by Laws 2012, c. 275, § 2, eff. Nov. 1, 2012.
62 OK Stat § 62-695.3 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-695.3. Definitions.

|As used in the Oklahoma Bond Oversight and Reform Act: |1. "Council" means the Council of Bond Oversight;2. "State Governmental Entity" means the State of Oklahoma or any agency, board, commission, authority, department, public trust of which the state is the beneficiary or other instrumentality of state government, other than a public trust with the state as beneficiary whose jurisdiction is limited to one county, including, but not limited to, the following:a.Oklahoma Municipal Power Authority,b.Oklahoma Development Authority,c.Oklahoma Industrial Finance Authority,d.Grand River Dam Authority,e.Oklahoma Water Resources Board,f.Northeast Oklahoma Public Facilities Authority,g.Oklahoma Turnpike Authority,h.Oklahoma Housing Finance Authority, andi.Oklahoma Public, Industrial and Cultural Facilities Authority;3. "Local Governmental Entity" means counties, cities and towns, school districts, public trusts of which a county, city or town or school district is the beneficiary or other political subdivision of the state;4. "Purpose" means the issuer's principal intended use of the funds derived from the issuance of bonds or other obligations; and5. "State Governmental Entity Financing" shall include local governmental transactions where the project is leased by a State Governmental Entity or debt service is paid directly or indirectly by a State Governmental Entity or where the project or improvement is in direct support of or administered by a State Governmental Entity.Added by Laws 1987, c. 222, § 93, operative July 1, 1987. Amended by Laws 2012, c. 275, § 3, eff. Nov. 1, 2012.
62 OK Stat § 62-695.6a (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-695.6a. Council of Bond Oversight - Membership.

|A. The Council of Bond Oversight shall consist of five (5) members as follows: |1. One member shall be appointed by the President Pro Tempore of the Senate;2. One member shall be appointed by the Speaker of the House of Representatives;3. Two members shall be appointed by the Governor, with the advice and consent of the Senate; and4. The State Treasurer or his or her designee shall be a member.B. Three members shall constitute a quorum. The affirmative vote of three members shall be necessary for any action to be taken by the Council.C. Members appointed to the Council shall serve a term of four (4) years and may be removed for cause by the appointing authority. Members may be reappointed for additional terms.D. A vacancy on the Council shall be filled in the same manner as the original appointment, to hold office during the unexpired term for which the member was appointed. The Council shall elect one of its members chair and may elect such other officers as it deems necessary. No vacancy in the membership of the Council shall impair the right of the Council to exercise all duties of the Council.E. The State Treasurer, as provided in Section 695.7 of this title, shall provide support staff as necessary to implement the purposes and functions of the Council.F. The Attorney General shall provide legal counsel to the Council.G. No member of the Oklahoma State Legislature shall be eligible to serve as a member of the Council.Added by Laws 2012, c. 275, § 4, eff. Nov. 1, 2012. Amended by Laws 2017, c. 374, § 2, eff. Nov. 1, 2017; Laws 2019, c. 53, § 1, eff. Nov. 1, 2019.
62 OK Stat § 62-695.8a (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-695.8a. Bond Oversight Revolving Fund.

|There is hereby created in the State Treasury a revolving fund for the Office of the State Treasurer, to be designated the "Bond Oversight Revolving Fund". The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of fees collected pursuant to Section 695.8 of this title and any other monies provided for by law. All monies accruing to the credit of said fund are hereby appropriated and may be budgeted and expended by the Office of the State Treasurer for expenses related to the Oklahoma Bond Oversight and Reform 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. |Added by Laws 1988, c. 305, § 22, operative July 1, 1988. Amended by Laws 1994, c. 322, § 24, eff. July 1, 1994; Laws 2003, c. 215, § 3, emerg. eff. May 14, 2003; Laws 2012, c. 304, § 466; Laws 2017, c. 374, § 4, eff. Nov. 1, 2017.
62 OK Stat § 62-695.9 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-695.9. See the following versions:

|OS 62-695.9v1 (SB 1050, Laws 2021, c. 204, § 14). |OS 62-695.9v2 (SB 1049, Laws 2021, c. 203, § 11).
62 OK Stat § 62-695.11 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-695.11. Application of Oklahoma Central Purchasing Act - Review 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. |Added by Laws 1987, c. 222, § 101, operative July 1, 1987. Amended by Laws 1998, c. 188, § 4, emerg. eff. April 29, 1998; Laws 2003, c. 215, § 4, emerg. eff. May 14, 2003; Laws 2019, c. 53, § 6, eff. Nov. 1, 2019.
62 OK Stat § 62-695.19 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-695.19. Refunding bonds – Review and approval of Deputy Treasurer for Debt Management.

|Notwithstanding any other provision of law, a State Governmental Entity, as such term is defined in Section 695.3 of this title, is authorized to issue refunding bonds for the purpose of refinancing existing bonds or obligations without further authorization from the Legislature provided the issuance of the refunding bonds and any services, fees and expenses related thereto are reviewed and approved by the Deputy Treasurer for Debt Management and the Council of Bond Oversight pursuant to the provisions of the Oklahoma Bond Oversight and Reform Act. |Added by Laws 2003, c. 215, § 5, emerg. eff. May 14, 2003. Amended by Laws 2019, c. 53, § 7, eff. Nov. 1, 2019.
62 OK Stat § 62-695.21 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-695.21. Short title.

|This act shall be known and may be cited as the "Oklahoma Private Activity Bond Allocation Act". |Added by Laws 1990, c. 326, § 1, emerg. eff. May 30, 1990.
62 OK Stat § 62-695.22 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-695.22. Formula and procedures adopted for issuance of private activity bonds.

|Pursuant to the provisions of the Federal Tax Reform Act of 1986 (26 U.S.C., Section 1 et seq.), as amended, under which a ceiling is established on the amount of private activity bonds which may be issued in a state during any calendar year, the following formula and procedures are hereby adopted for the issuance of private activity bonds for the purpose of promoting employment, economic development, assuring the general health, safety and welfare of the citizens and residents of the state and otherwise lessening the burdens of government. |Added by Laws 1990, c. 326, § 2, emerg. eff. May 30, 1990.
62 OK Stat § 62-695.26 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-695.26. Application of Act.

|The definitions, terms and provisions of the Oklahoma Private Activity Bond Allocation Act shall apply solely to private activity bonds pursuant to the applicable provisions of the Internal Revenue Code. |Added by Laws 1990, c. 326, § 6, emerg. eff. May 30, 1990.
62 OK Stat § 62-751 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-751. Short title.

|Sections 1 through 12 of this act shall be known and may be cited as the "General Obligation Public Securities Refunding Act". |Added by Laws 1984, c. 255, § 1, emerg. eff. May 30, 1984.
62 OK Stat § 62-752 (2021)
2021 Oklahoma Statutes|Title 62. Public Finance|§62-752. Definitions.

|As used in the General Obligation Public Securities Refunding Act: |1. "Escrow supplement" means any legally available funds or moneys, other than bond proceeds, of a public body, which are placed in an escrow or trust account established pursuant to the provisions of the General Obligation Public Securities Refunding Act to be used and expended, together with the proceeds of refunding bonds, to accomplish the purposes of the escrow or trust account;2. "Federal securities" means United States Government or agency bills, certificates of indebtedness, notes, bonds or other obligations which are direct obligations of, or the principal of and interest on which obligations are unconditionally guaranteed by or secured by an unconditional obligation of, the United States of America;3. "General obligation" means general obligation bonds or any other general obligation of a public body constituting a debt or indebtedness of the public body;4. "Governing body" means a city council, town council, board, commission, board of commissioners, board of trustees, board of directors or other legislative body of a public body in which the legislative powers of the public body are vested;5. "Net effective interest rate" means the net interest cost of such obligations to be refunded divided by the product of the principal amounts expressed in one-thousand-dollar units of such obligations to be refunded maturing on each maturity date and ten times the number of years from the date of the proposed refunding bonds to the respective maturities of the obligations to be refunded. The net effective interest rate shall be computed without regard to any option of redemption prior to the designated maturity dates of the obligations;6. "Net interest cost" of outstanding obligations to be refunded means the total amount of interest which would accrue on the outstanding obligations from the date of the proposed refunding bonds to the respective maturity dates of the outstanding obligations to be refunded. The net interest cost shall be computed without regard to any option of redemption prior to the designated maturity dates of the obligations to be refunded;7. "Public body" means any county, city, town, school district, or other political subdivision of the state;8. "State" means the State of Oklahoma;9. "Qualified escrow agent" means any commercial bank with full corporate trust powers located within the state whose accounts are insured by the Federal Deposit Insurance Corporation; and10. "Escrow account" means an escrow or trust account established with a qualified escrow agent pursuant to the provisions of the General Obligation Public Securities Refunding Act. The escrow account shall be deemed a part of the sinking fund of the issuer of the refunded bonds.Added by Laws 1984, c. 255, § 2, emerg. eff. May 30, 1984.