§74-9053. Authority and powers.
256 words·~1 min read·
/ok/title-74-state-government/74-9053·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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
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.