Oklahoma § 62-891.17 - Promulgation of rules establishing funding criteria Scoring system to evaluate projects

§ 62-891.17. Promulgation of rules establishing funding criteria Scoring system to evaluate projects

A. The Oklahoma Department of Commerce shall promulgate rules

for purposes of establishing criteria for the funding of authorized

infrastructure projects from the proceeds of obligations issued by

the Oklahoma Development Finance Authority for the Public-Private

Partner Development Pool.

B. The Department shall establish a scoring system to evaluate

projects to be financed from the proceeds of obligations issued by

the Authority for the Public-Private Partner Development Pool.

C. The scoring system shall include, but shall not be limited

to, analysis of:

1. Capital investment by one or more for-profit business

entities and/or federal government defense entities;

2. Additional capital investment by one or more local

government entities;

3. New direct jobs as defined by Section 3603 of Title 68 of

the Oklahoma Statutes, to be created by a for-profit business entity

or entities;

Oklahoma Statutes - Title 62. Public Finance

4. Salary and wage payments to persons employed in new direct

jobs; and

5. The likelihood of additional business location decisions

resulting from the activity of the for-profit business entity or

entities that would benefit from use of the Public-Private Partner

Development Pool.

D. One or more eligible local government entities shall apply

to the Department for approval of a pooled financing for an

infrastructure project on such forms as the Department may

prescribe.

E. The Department shall compile and maintain a prioritized list

of infrastructure projects eligible for pooled financing through the

Authority.

F. The Authority shall use the prioritized list provided by the

Department in order to provide financing to the eligible local

government entities in conjunction with one or more for-profit

business entity or entities for infrastructure development.

G. The Authority shall, within the limit on available bond

proceeds in the Development Infrastructure Pool, provide proceeds in

accordance with the scoring system established by the Department

pursuant to this section.

Added by Laws 2019, c. 260, § 4, eff. Nov. 1, 2019.