Oklahoma § 62-891.7 - Infrastructure Pool

§ 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.

Oklahoma Statutes - Title 62. Public Finance

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.