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 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 82. WATERS AND WATER RIGHTS

  § 82-864.2. Director of investments - Duties - Qualifications - Compensation.  

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  • A.  The Board of Directors of the Grand River Dam Authority shall select a director of investments who shall be an officer or employee of the district, but who is not a member of the Board.  The duties of the director of investments, which shall be in addition to the existing duties of the director as an officer or employee of the district, shall include, but not be limited to, the following:

    1.  Monitor current and existing investment strategies as they relate to the operation of the electricity generation and transmission facilities of the district;

    2.  Evaluate investment strategies designed to reduce price fluctuations in fuels used by the district;

    3.  Provide recommendations to the Board regarding the most cost-effective investment strategies with the goal of keeping fuel prices low;

    4.  Be the liaison with market participants and service providers in implementing investment strategies;

    5.  Monitor and evaluate all bond issuance strategies and make recommendations to the Board regarding the most cost-effective strategies for bond issues;

    6.  Be the liaison with market participants and service providers in implementing bond issue strategies;

    7.  Monitor national and international standards for the issuance of obligations by governmental entities;

    8.  Monitor conditions of and trends in national and international markets for obligations of governmental entities;

    9.  Monitor qualifications and fees of underwriters, bond and other counsel, financial advisors and consultants, trustees and other fiduciaries, and paying agents;

    10.  Be the liaison to all rating agencies for the purpose of maintaining or improving the investment grade status of all district bonds and other obligations;

    11.  Monitor all district bond issues and other obligations to protect district bondholder and obligation holder interests;

    12.  Be the liaison to the State Bond Advisor;

    13.  Be the liaison to all investment and commercial banks that the district selects for any purpose related to investments, bond issues, or other obligations issued on behalf of the district; and

    14.  Otherwise be responsible for monitoring the investments of the district.

    B.  The director of investments shall possess one of the following:

    1.  A license as a certified public accountant;

    2.  A Juris Doctorate degree; or

    3.  A Master of Business Administration degree.

    C.  Notwithstanding the provisions of Section 3601.2 of Title 74 of the Oklahoma Statutes, the compensation for the director of investments shall not exceed ninety percent (90%) of the compensation authorized for the General Manager of the Oklahoma Municipal Power Authority.

Added by Laws 2008, c. 346, § 1, emerg. eff. June 2, 2008.