Oklahoma § 74-9053 - Authority and powers

§ 74-9053. Authority and powers

A. In addition to all other powers expressly conferred upon the

Oklahoma Development Finance Authority pursuant to Section 5062.8 of

Title 74 of the Oklahoma Statutes, the Authority is hereby

authorized and empowered to take the following action:

1. To provide, with assistance from the Public Utility Division

of the Oklahoma Corporation Commission, a pooled loan program for

the efficient financing of qualified costs of unregulated utilities

pursuant to Section 6 of this act for the purposes of mitigating the

Oklahoma Statutes - Title 74. State Government

significant impact of extreme purchase costs and extraordinary costs

to customers of an unregulated utility;

2. To assess an administrative fee for the costs associated

with the Authority carrying out its power and duties under this act;

and

3. To do all things necessary or convenient to carry out the

powers expressly granted in this act.

B. The Authority shall take the following action:

1. To notify the Governor, President Pro Tempore of the Senate,

the Speaker of the House of Representatives and the Oklahoma

Corporation Commission upon issuance of a loan pursuant to this act.

The notification shall be in writing and include the amount and

terms of the loan; and

2. To prepare a report annually regarding financing activity

related to the provisions of this act to be submitted to the

Governor, the Attorney General, the President Pro Tempore of the

Senate and the Speaker of the House of Representatives as of

December 1 each year until the debt is retired.

Added by Laws 2021, c. 203, § 4, emerg. eff. April 23, 2021.