§74-1226.19. Proceeds from obligations for American Indian Cultural
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/ok/title-74-state-government/74-1226-19·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Center and Museum – Purpose - Limits.
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.