Oklahoma Statutes (Last Updated: September 18, 2014)

§ 82-1085.44. Monies appropriated to Statewide Water Development Revolving Fund - Use as security and collateral.

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In addition to the purposes outlined in Section 1085.40 of Title 82 of the Oklahoma Statutes, all monies appropriated by the Legislature to the Statewide Water Development Revolving Fund may be used by the Board for security and collateral for investment certificates issued by the Board pursuant to Section 1085.33 of Title 82 of the Oklahoma Statutes. Furthermore, the Board is hereby directed to manage and administer the Statewide Water Development Revolving Fund so as to maintain a revolving fund balance adequate to sufficiently back any and all outstanding investment certificates. Any state liability arising from the implementation of this section shall be limited to those monies in the Statewide Water Development Revolving Fund which have been reserved as backing for the outstanding investment certificates.

Added by Laws 1984, c. 277, § 1, emerg. eff. May 30, 1984.

                    
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