§74-5062.3. Mission of Oklahoma Development Finance Authority -
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/ok/title-74-state-government/74-5062-3·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Public policy.
A. The mission of the Oklahoma Development Finance Authority shall be to take into account and develop its policies based upon the following findings:
1. Fundamental changes have occurred in national and international markets for goods and services produced by the citizens of this state. These changes have created an economic hardship for this state as manifested by the increasing number of business failures and bankruptcies, both personal and corporate, and the high levels of unemployment in agricultural and industrial enterprises;
2. There exists a need to improve, repair, replace and expand the infrastructure of the state and its political subdivisions, which is vital to the health, safety and welfare of the citizens of the state as well as to economic growth and development; and
3. Structural changes in global capital markets and real goods markets have had a strong impact on the availability of long-term capital in this state.
B. It is hereby declared to be the public policy and responsibility of this state to promote the health, welfare, safety and economic security of its inhabitants through the retention of existing employment and alleviation of unemployment in all phases of agricultural enterprises and industrial enterprises, for the development of reliable, affordable, efficient and environmentally compatible sources of energy for all types of public and private consumption, for providing health care facilities, for providing capital improvement facilities, for providing educational facilities for the benefit of educational institutions within the state and for such other facilities and projects as herein provided.
C. It is hereby found that the public policies and responsibilities of the state as set forth in this act cannot be fully attained without the use of public financing and that such public financing can best be provided by the creation of a state development finance authority with comprehensive and extensive powers therein, which authority shall have the power to issue bonds to provide financing for qualified agricultural enterprises, capital
improvements, educational facilities, industrial enterprises, energy conservation facilities, energy distribution facilities, energy generating facilities and facilities, health care facilities, pollution control facilities, recreational facilities and waste water facilities, and that all of the foregoing are public purposes and uses for which public moneys may be borrowed, expended, advanced, loaned and granted. Added by Laws 1987, c. 222, § 51, operative July 1, 1987.