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§ 38-120. Designation of tax increment allocation district

Oklahoma Statutes AnnotatedTitle 11. Cities and Towns

Oklahoma Statutes Annotated
Title 11. Cities and Towns (Refs & Annos)
Chapter 1. Municipal Code (Refs & Annos)
Municipal Departments and Services
Article XXXVIII. Urban Renewal
11 Okl.St.Ann. § 38-120
§ 38-120. Designation of tax increment allocation district
A. At the time of adoption of an urban renewal plan pursuant to this act,1 or subsequent thereto, the municipal governing body may designate the urban renewal area to be a tax increment allocation district by either resolution or ordinance.
B. Before a municipality may designate a tax increment allocation district, the municipal governing body shall hold a public hearing thereon, after public notice thereof by publication at least one time not less than fifteen (15) days prior to the date of such public hearing, in a newspaper having general circulation in the area of operation of the municipality, and by posting not less than five public notice signs, each having at least nine (9) square feet of display area, for a period of fifteen (15) successive days including the day of the public hearing for which notice is being given, in the area to be included in the proposed tax increment allocation district. Public notice may be combined with public notice of a hearing on an urban renewal plan or an amendment thereto.
C. Following such hearing, the municipal governing body may designate an urban renewal area to be a tax increment allocation district if it finds that the designation of such district is necessary or desirable in achieving the objectives of one or more urban renewal or urban redevelopment projects.

Credits

Laws 1983, c. 310, § 3, eff. Nov. 1, 1983.

Footnotes

Title 11, § 38-101 et seq.
11 Okl. St. Ann. § 38-120, OK ST T. 11 § 38-120
Current with legislation of the Second Regular Session of the 58th Legislature (2022) effective through October 1, 2022. Some sections may be more current, see credits for details.
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