Oklahoma § 70-3980.6

§ 70-3980.6.

Corporate powers.

Oklahoma Statutes - Title 70. Schools

The authorized issuers are for purposes of this act hereby

granted, have and may exercise all powers necessary or appropriate

to carry out and effectuate their respective corporate purposes,

including, without limiting the generality thereof, the following:

1. To make and execute contracts with any individual,

corporation, whether profit or nonprofit, association or any other

entity and all other instruments necessary or convenient for the

performance of its duties and the exercise of its powers and

functions pursuant to the provisions of this act;

2. To employ underwriters, bond or other legal counsel,

financial advisors, consultants, a financial institution to serve as

trustee, paying agent or in any fiduciary capacity in connection

with any program, indenture or general resolution of the Regents, or

any other experts and to determine their qualifications, duties and

compensation subject to the provisions of this act for advice and

oversight of the State Bond Advisor;

3. To procure insurance against any loss in connection with its

property and other assets in such amounts and from such insurers as

it deems desirable;

4. To borrow money and to issue bonds, whether or not the

interest thereon is to be includable in the gross income of the

recipients thereof for federal income tax purposes, including,

without limitation, to provide on a pooled or consolidated basis

financing for the purposes and projects herein provided and to

provide for the security and sources of payments therefor;

5. To receive and accept aid or contributions from any source

of money, property, labor, or other things of value to be held, used

and applied to carry out the purposes of this act subject to the

conditions upon which the grants and contributions are made,

including, but not limited to, gifts or grants from any department,

agency or instrumentality of the United States or of the state for

any purpose consistent with this act;

6. To obtain from any department or agency of the United States

of America or nongovernmental insurer any insurance or guaranty, to

the extent now or hereafter available, as to, or of, or for, the

payment or repayment of, interest or principal, or both, or any part

thereof, on any bonds issued by the authorized issuers, or on any

municipal securities of political subdivisions purchased or held by

the authorized issuers, pursuant to this act; and, notwithstanding

any other provisions of this act, to enter into any agreement or

contract whatsoever with respect to any such insurance or guaranty,

except to the extent that the same would in any way impair or

interfere with the ability of the authorized issuers to perform and

fulfill the terms of any agreement made with the owners of the bonds

of the authorized issuers;

Oklahoma Statutes - Title 70. Schools

7. To sell, convey, lease, exchange, transfer or otherwise

dispose of, all or any of its property or any interest therein,

wherever situated;

8. To provide financing assistance for the purposes and

projects herein provided;

9. To acquire, purchase, hold, store, advertise, market, sell,

trade, barter, exchange, distribute, transport, process, utilize and

contract in all manner with respect thereto and for commodities,

products and services, and real or personal property or any interest

therein and to contract for, issue and utilize letters of credit and

other credit facilities and incur indebtedness and to arrange, form,

make, guarantee, issue, remit, receive, receipt, process and collect

payments and equivalents, howsoever nominated, in connection with or

for purposes of any of the foregoing and for the purpose of

executing and fulfilling the purposes of the authorized issuers as

prescribed by this act;

10. To acquire, reacquire, construct, reconstruct, extend,

rent, lease, purchase, use, loan, borrow, install, equip, maintain,

operate, renovate, refurbish, enlarge, remodel, convey, sell, at

public or private sale, encumber, alleviate, transfer, exchange,

dispose of and/or resell, any property, real, personal or mixed,

improvements, buildings, equipment, chattels, furnishings, fixtures,

trade fixtures, and any and all other facilities and/or property of

whatever nature, including any and all rights to or therein for use

by corporations, individuals, cooperatives, partnerships,

associations or proprietary companies for any of or for the purpose

of executing and/or fulfilling the purposes of the Regents, and to

plan, establish, develop, construct, enlarge, improve, extend,

maintain, equip, operate, lease, furnish, provide, supply, regulate,

hold, store and administer property, buildings, improvements, and

facilities of every nature, which may be useful in pursuing,

promoting, executing and/or fulfilling the aforementioned purposes;

11. To the extent permitted under its contract with the owners

of bonds, to consent to any modification with respect to rate of

interest, time, and payment of any installment of principal or

interest security or any other term of any contract, mortgage,

contract or agreement of any kind to which the authorized issuers

are a party;

12. To purchase its own bonds at such price or prices as the

authorized issuers shall determine, subject to any agreement with

the owners of bonds;

13. To enter into financial documents with others for the

purpose of receiving revenues to pay the bonds authorized by this

act; to lease, sell, or otherwise dispose of any or all of its

projects to others for such revenues and upon such terms and

conditions as the authorized issuers may deem advisable; and to

grant options to renew any financing agreement with respect to

Oklahoma Statutes - Title 70. Schools

project and to grant options to buy any project at such price or

prices as the authorized issuers deem desirable;

14. To lend money to the state or political subdivisions

through the purchase by the authorized issuers of obligations of the

state or political subdivisions;

15. To collect fees and charges in connection with its loans,

commitments and servicing, including, but not limited to,

reimbursement of costs of financing as the authorized issuers shall

determine to be reasonable and as shall be approved by the

authorized issuers;

16. To provide services, technical assistance and advice to

this state and political subdivisions and to enter into contracts

with this state and political subdivisions to provide such services.

The State of Oklahoma and its political subdivisions are hereby

authorized to enter into contracts with the authorized issuers for

such services and to pay for such services as may be provided them;

17. To contract, cooperate, or join with any one or more other

governments or public agencies, or with the state, any political

subdivisions of this state, or the United States, to perform any

administrative service, activity, or undertaking which any such

contracting party is authorized by law to perform, including the

issuance of bonds;

18. To invest any funds available to the authorized issuers,

whether or not from the proceeds of bonds, in such securities or

pursuant to such agreements or other arrangements as the authorized

issuers shall determine, subject to any agreements with bond owners

or other creditors of the authorized issuers; and

19. To exercise all other powers and functions necessary or

appropriate to carry out the duties and purposes set forth in this

act, including, but not limited to, the power to enter into

transactions involving variable interest rates and interest rate

swaps.

Added by Laws 2005, c. 2, § 6, emerg. eff. March 31, 2005. Amended

by Laws 2005, c. 218, § 7, emerg. eff. May 24, 2005.