§ 891.3. Definitions
Oklahoma Statutes AnnotatedTitle 62. Public FinanceEffective: November 1, 2021
Effective: November 1, 2021
62 Okl.St.Ann. § 891.3
§ 891.3. Definitions
3. “Business entity” means a corporation, limited liability company, general partnership, limited partnership or such other entity conducting a lawful activity which is organized pursuant to the laws of the state or which is authorized to do business in the state if organized under the law of another jurisdiction;
5. “Conduit issuer” means the Oklahoma Development Finance Authority acting for the benefit of either a combination of local government entities or a local government entity or entities in conjunction with a for-profit business entity pursuant to the provisions of the Oklahoma Community Economic Development Pooled Finance Act;
9. “Economic Development Pool” means proceeds of obligations sold by the Authority to provide resources for eligible local government entities or a local government entity in conjunction with a for-profit business entity to finance an eligible economic development project or other purposes authorized by the Oklahoma Community Economic Development Pooled Finance Act;
15. “Pooled financing” means an agreement, pursuant to the provisions of the Oklahoma Community Economic Development Pooled Finance Act or pursuant to the Interlocal Cooperation Act,1 among two or more eligible local governmental entities or involving a local government entity or entities in conjunction with a for-profit business entity to use proceeds from a tax levy or other authorized source of revenue to make payments of principal, interest and other related costs in connection with an obligation issued by the Oklahoma Development Finance Authority for the benefit of the entities entering into such agreement according to the terms of the agreement and according to the requirements of any ballot submitted to the voters of the respective eligible local governmental entities. Pooled financing does not mean or include the use of any ad valorem tax revenues derived from a levy imposed pursuant to Section 26 of Article X of the Oklahoma Constitution;
16. “Private activity bonds” means those obligations the interest income from which may be exempt from federal income tax pursuant to the provisions of the Internal Revenue Code of 1986, as amended;2 and
17. “Public-Private Partner Development Pool” means proceeds of obligations sold by the Oklahoma Development Finance Authority to provide resources for eligible local government entities to provide financing for infrastructure in conjunction with for-profit business entities and federal government defense entities or any other purpose authorized by the Oklahoma Community Economic Development Pooled Finance Act.
Credits
Laws 2009, c. 309, § 3, eff. July 1, 2009; Laws 2010, c. 373, § 1, emerg. eff. June 7, 2010; Laws 2013, c. 179, § 1, eff. Nov. 1, 2013; Laws 2019, c. 260, § 1, eff. Nov. 1, 2019; Laws 2021, c. 363, § 1, eff. Nov. 1, 2021.
62 Okl. St. Ann. § 891.3, OK ST T. 62 § 891.3
Current with emergency effective legislation through Chapter 182 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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