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 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 62. PUBLIC FINANCE

  § 62-878. Use of bond proceeds.  

Latest version.

  • A.  Any municipality or county which has established a rural housing incentive district may use the proceeds of special obligation bonds issued under Section 8 of this act, or any uncommitted funds derived from those sources of revenue set forth in subsection A of Section 8 of this act, to implement specific projects identified within the rural housing incentive district project plan including, without limitation:

    1.  Acquisition of property within the specific project area or areas as provided in Section 7 of this act;

    2.  Payment of relocation assistance;

    3.  Site preparation;

    4.  Sanitary and storm sewers and lift stations;

    5.  Drainage conduits, channels and levees;

    6.  Street grading, paving, graveling, macadamizing, curbing, guttering and surfacing;

    7.  Street lighting fixtures, connection and facilities;

    8.  Underground gas, water, heat, and electrical services and connections located within the public right-of-way;

    9.  Sidewalks; and

    10.  Water mains and extensions.

    B.  None of the proceeds from the sale of special obligation bonds issued under Section 8 of this act shall be used for the construction of buildings or other structures to be owned by or to be leased to any developer of a residential housing project within the district.

Added by Laws 1999, c. 140, § 9, eff. Nov. 1, 1999.