Oklahoma § 62-878 - Use of bond proceeds

§ 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; and

10. 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.