§ 69-4032. Allocation of funds to eligible entities.

A.  The Oklahoma Department of Transportation may allocate monies in the Mass Transit Revolving Fund created in Section 1 of this act to eligible agencies in the manner and for the purposes specified in this act.

B.  Except for those monies specified in Section 5 of this act, all monies appropriated to the Public Transit Revolving Fund shall be distributed to eligible entities not later than June 30 of each year.

C.  As used in this act, "eligible entities" means those entities receiving federal financial assistance for approved programs pursuant to 49 U.S.C., Sections 1607a and 1614, as amended, and other public mass transit programs provided by entities, municipalities, and community action programs, and which have submitted an audited financial statement showing total reported mileage to the Department of Transportation.  For those programs not currently receiving federal funds, the Department, using industry-wide standards and guidelines and regulations, shall certify the program as being a public mass transit system.

Added by Laws 1990, c. 250, § 2, operative July 1, 1990.