Oklahoma § 74-1226.19 - Proceeds from obligations for American Indian Cultural

§ 74-1226.19. Proceeds from obligations for American Indian Cultural

Center and Museum – Purpose - Limits.

Oklahoma Statutes - Title 74. State Government

A. Proceeds of the bonds or other obligations issued pursuant

to Section 304.2 of Title 73 of the Oklahoma Statutes shall only be

expended for the purpose of completing the American Indian Cultural

Center and Museum (AICCM).

B. Proceeds of the bonds or other obligations issued pursuant

to Section 304.2 of Title 73 of the Oklahoma Statutes shall be

expended according to the limits of this subsection.

1. Upon certification by the Office of Management and

Enterprise Services (OMES) that a specific amount exceeding Ten

Million Dollars ($10,000,000.00) in nonstate and nonfederal

donations, contributions, gifts and bequests for the purpose of

completing the AICCM has been deposited into the American Indian

Cultural Center and Museum Completion Fund created pursuant to

Section 1226.20 of this title, the Oklahoma Capitol Improvement

Authority (OCIA) and the Native American Cultural and Educational

Authority (Authority) shall be authorized to expend an amount to be

certified by OMES from the proceeds of bonds or other obligations

issued pursuant to Section 304.2 of Title 73 of the Oklahoma

Statutes. The Nine Million Dollars ($9,000,000.00) committed by the

City of Oklahoma City (City) pursuant to Section 1226.2 of this

title shall not be included within the amount certified pursuant to

this paragraph, regardless of when such funds are provided.

2. Following the initial certification provided by paragraph 1

of this subsection, OCIA and the Authority may expend additional

funds upon subsequent certifications by OMES that specific

additional amounts of nonstate and nonfederal donations,

contributions, gifts and bequests have been deposited into the

American Indian Cultural Center and Museum Completion Fund. OCIA or

the Authority may request such certifications at any time. Upon

such certifications, OCIA and the Authority shall be authorized to

expend equal amounts from the proceeds of bonds issued pursuant to

Section 304.2 of Title 73 of the Oklahoma Statutes. In no event may

total expenditures from the proceeds of bonds issued pursuant to

Section 304.2 of Title 73 of the Oklahoma Statutes exceed the total

amounts certified by OMES. The Nine Million Dollars ($9,000,000.00)

committed by the City pursuant to Section 1226.2 of this title may

be included within the amounts certified pursuant to this paragraph.

Added by Laws 2015, c. 339, § 4, eff. Sept. 1, 2015. Amended by

Laws 2017, c. 373, § 2, emerg. eff. May 31, 2017.