Oklahoma Statutes
Title 73. State Capital and Capitol Building
§73-347. Financing authority for construction of State Health Laboratory.

A. The Oklahoma Capitol Improvement Authority is authorized to issue notes, bonds or other evidences of obligation in an amount necessary to generate net proceeds of Fifty-eight Million Five Hundred Fifty-five Thousand Dollars ($58,555,000.00) after providing for costs of issuance, credit enhancement, reserves and other associated expenses related to financing. Net proceeds of the financing will be deposited into a construction fund to provide for the financing of acquisition of real property, together with improvements located thereon, and personal property, to construct buildings and other improvements to real property and to acquire property for office space and to provide funding for the construction of a new State Health Laboratory for the State Department of Health with debt retirement payments to be made as provided in this section.

B. The Authority may hold title to the real and personal property and improvements until such time as any obligations issued for this purpose are retired or defeased and may lease the real property and improvements to the State Department of Health. Upon final redemption or defeasance of the obligations created pursuant to this section, title to the real and personal property and improvements shall be transferred from the Authority to the Department.
C. For the purpose of paying the costs for acquisition and construction of the real property and improvements and personal property and providing funding for the project authorized in subsection A of this section, and for the purpose authorized in subsection D of this section, the Authority is hereby authorized to borrow monies on the credit of the income and revenues to be derived from the leasing of such real and personal property and improvements and, in anticipation of the collection of such income and revenues, to issue negotiable obligations in one or more series. The Authority is authorized to capitalize interest on the obligations issued pursuant to this section for a period of time not to exceed one (1) year from the date of issuance. Excluding any capitalized interest period, it is the intent of the Legislature to appropriate to the State Department of Health sufficient monies to make rental payments for the purposes of retiring obligations created pursuant to this section.
D. To the extent funds are available from the proceeds of the borrowing authorized by subsection C of this section, the Authority shall provide for the payment of professional fees and associated costs related to the project authorized in subsection A of this section.
E. The Authority may issue obligations in one or more series and in conjunction with other issues of Authority. The Authority is authorized to hire bond counsel, financial consultants and other professionals as it may deem necessary to provide for the efficient sale of the obligations and may utilize a portion of the proceeds of any borrowing to create such reserves as may be deemed necessary and to pay costs associated with the issuance and administration of such obligations.
F. The obligations authorized under this section may be sold at either competitive or negotiated sale, as determined by the Authority, and in such form and at such prices as may be authorized by the Authority. The Authority may enter into agreements with such credit enhancers and liquidity providers as may be determined necessary to efficiently market the obligations. The obligations may mature and have such provisions for redemption as shall be determined by the Authority, but in no event shall the final maturity of such obligations occur later than twenty (20) years from the first principal maturity date.
G. Any interest earnings on funds or accounts created for the purposes of this section may be utilized as partial payment of the annual debt service or for the purposes directed by the Authority.
H. The obligations issued under this section, the transfer thereof and the interest earned on such obligations including any profit derived from the sale thereof, shall not be subject to taxation of any kind by the State of Oklahoma, or by any county, municipality or political subdivision therein.
I. The Authority may direct the investment of all monies in any funds created in connection with the offering of the obligations authorized under this section. The investments shall be made in a manner consistent with the investment guidelines of the State Treasurer. The Authority may place additional restrictions on the investment of such monies if necessary to enhance the marketability of the obligations.
J. Insofar as they are not in conflict with the provisions of this section, the provisions of Section 151 et seq. of Title 73 of the Oklahoma Statutes shall apply to this section.
K. Upon the effective date of this act, if the Oklahoma Capitol Improvement Authority has not issued notes, bonds or other evidences of obligation authorized pursuant to this section on or before July 1, 2025, the provisions of this section shall cease to be operative after July 1, 2025.
Added by Laws 2017, c. 338, § 1, eff. July 1, 2017. Amended by Laws 2021, c. 529, § 1, eff. July 1, 2021.

Structure Oklahoma Statutes

Oklahoma Statutes

Title 73. State Capital and Capitol Building

§73-1. Seat of government and capitol established.

§73-15. Agency exercising custody, supervision, and control of work and material in and about Capitol building.

§73-15.1. Management and control of space by Legislature.

§73-15.3. Assignment of parking for certain officials - Location - Reserved parking spaces.

§73-15.4. Friends of the Capitol – Not-for-profit corporation.

§73-19. Oklahoma State Capitol Building Repair and Restoration Fund.

§73-21. Unlawful to deface.

§73-22. Mechanical engineer - Approval of defacement.

§73-23. Violation a misdemeanor - Punishment.

§73-24. Flags at south plaza entrance.

§73-25. Oklahoma Historical Society – Maintenance and display of flags, standards, or banners.

§73-26. Flags, standards, or banners of federally recognized Native American tribal governments.

§73-62.2. Agreement with Post Office Department - Additional space.

§73-63. Battle flags and colors - Display.

§73-71. Custody of property belonging to houses of Legislature.

§73-72. Legislative expenses - Preparation of session laws - Claims and unfinished business - Inventory - Care and custody of property and chambers.

§73-73. Records and journals - Public inspection - Confidentiality.

§73-82.1. Purpose of act.

§73-83. Capitol-Medical Center Improvement and Zoning District - Creation and boundaries.

§73-83.1. Capitol-Medical Center Improvement and Zoning Commission.

§73-83.2. Authority of Commission over zoning and utilization of property - Location and design of improvements.

§73-83.3. Official master comprehensive plan - Agreements with City of Oklahoma City.

§73-83.4. Rules and regulations.

§73-83.5. Regulations authorized - Districts and subdistricts - Parking.

§73-83.6. Existing uses, buildings and structures.

§73-83.7. Notice and hearing before adoption of regulations.

§73-83.8. Permit for improvement or change of use.

§73-83.9. Appeals.

§73-83.10. Expenses.

§73-83.11. Corporate status and powers of Commission.

§73-83.12. Citizens' Advisory Committee.

§73-83.13. Complaint - Notice - Hearing - Orders - Service of order, etc.

§73-83.14. Violations of regulations or provisions - Jurisdiction - Injunction - Actions by Attorney General.

§73-92. Payment of liens.

§73-96. Regulation and enforcement.

§73-97. Violation.

§73-98.7. Financial report - Termination of commission, transfer of powers.

§73-99.10. Short title.

§73-99.11. Purpose of act.

§73-99.12. Definitions.

§73-99.13. Program administration – Grant applications – Award considerations – Rules.

§73-99.14. Project work standards – Eligible expenses – Oversight.

§73-99.15. Oklahoma Historic Capitols Preservation Act Revolving Fund.

§73-151. Purpose.

§73-152. Authority created - Membership - Officers - Quorum - Bond.

§73-153. Acquisition of land and erection of buildings - Negotiable bonds.

§73-153-A. Buildings for Department of Public Safety - Location - Financing.

§73-153-C. Transfer of property to Department of Public Safety.

§73-155. Sale of bonds to public - Bids - Deposit.

§73-156. Interim bonds.

§73-156.1. Refinancing and restructuring of outstanding obligations.

§73-157. Bonds as legal investment for bank, trust or insurance companies.

§73-158.1. Article X, § 29 certificate required for bonds – Prima facie evidence.

§73-159. Delivery of bonds upon payment - Deposit and investment of proceeds.

§73-159.1. Payment of funds in advance of bond issuance - Deposit and use of funds.

§73-160. Approval of bonds by Supreme Court.

§73-161. Power of Authority.

§73-162. Transaction of business for profit by members or employees prohibited - Penalty.

§73-163. State departments and agencies to pay rents.

§73-163.1. Private persons authorized to lease space.

§73-163.2. Deposit of funds.

§73-163.3. Predesign services and consultation required for facilities financed by Authority.

§73-165. Funds for payment of rent.

§73-166. Execution of bonds and contracts - Audit of claims.

§73-167. Prohibition on sale or other disposal of bonds without legislative approval.

§73-168. Acquisition of land and erection of buildings for specified state agencies.

§73-168.1. Payment for lands acquired by other state agencies - Conveyance of title.

§73-168.2. Rehabilitation facility for Department of Human Services.

§73-168.3. Acquisition of land for erection of building for operation of Oklahoma School of Science and Mathematics - Issuance of bonds.

§73-168.5. Acquisition of property for Department of Commerce office space - Issuance of obligations.

§73-168.6. Construction and improvement of state highway system - Issuance of obligations.

§73-168.7. Acquisition of property for Bureau of Investigation.

§73-168.8. Purchase of property for laboratory and investigative services buildings for State Bureau of Investigation.

§73-168.9. Purchase of real property for public hunting, fishing and trapping areas.

§73-168.10. Acquisition of property for Oklahoma Tourism and Recreation Department office space - Issuance of obligations.

§73-168.10a. Defeasance of obligations – Escrow account.

§73-168.10b. Obligation Defeasance Revolving Fund.

§73-169. Payment of bonds - Rights of holders - Commingling prohibited.

§73-170. Provisions governing.

§73-171. Attorney General - Duty.

§73-172. Interest rate on bonds.

§73-173. Maintenance of Authority grounds and housekeeping, maintenance and repair of properties - Security and law enforcement services - Accounts.

§73-174. Legislative authorization for issuance of bonds and for certain contracts and projects required.

§73-175. Tunnel construction.

§73-176. Permanent legislative liaison committee.

§73-177. Renovation of certain facilities.

§73-177.1. Buildings for the Oklahoma Department of Corrections.

§73-178. Repairs, refurbishments and improvements - Authority to issue bonds.

§73-179. 1995 Tourism Bond Revolving Fund.

§73-180. Funding for asbestos abatement and repairs - Bonds.

§73-181. Construction of office building in Carter County.

§73-182. Food Processing Center at Oklahoma State University.

§73-183. Construction and operation of correctional facilities.

§73-184. Equipment leasing and finance program.

§73-185. Capitol Improvement Authority - Improvements and facilities under Department of Corrections.

§73-186. Capitol Improvement Authority – Improvements and facilities upon property for benefit of Oklahoma Military Department.

§73-201. Will Rogers Memorial Office Building.

§73-202. Sequoyah Memorial Office Building.

§73-203. Provision for proper recognition.

§73-204. Wiley Post Historical Building.

§73-205. Jim Thorpe Office Building.

§73-206. Identification of buildings.

§73-207. Oliver Hodge Memorial Education Building.

§73-208. Robert R. Lester Law Enforcement Training Center.

§73-209. Identification.

§73-210. Allen Wright Memorial Library Building.

§73-211. Marker.

§73-212. M.C. Connors Building.

§73-213. Marker.

§73-215. Denver N. Davison Building - Designation.

§73-216. Denver N. Davison Building - Marker.

§73-217. Vezey Veterans Complex.

§73-301. Acquisition, construction, repair and improvement of real property - Appropriations.

§73-301.1. Sale of real property associated with the Lincoln Boulevard Renaissance Project.

§73-302. Completion of History Center for Oklahoma Historical Society - Issuance of obligations.

§73-302.1. Completion of Oklahoma Museum of Popular Culture - Issuance of obligations.

§73-303. Repairs and improvements of J.D. McCarty Center for Children with Developmental Disabilities - Funding.

§73-304. Completion of Native American Cultural Center Museum - Issuance of obligations.

§73-304.1. Native American cultural center and museum - Continuing construction - Issuance of obligations.

§73-304.2. American Indian Cultural Center and Museum – Continuing construction – Issuance of obligations.

§73-305. Buildings and other improvements to real property and acquisition of personal property for Department of Mental Health and Substance Abuse Services - Funding - Issuance of obligations.

§73-306. Financing for construction of capital dome.

§73-307. Financing for construction of multipurpose laboratory for the Oklahoma Department of Agriculture, Food, and Forestry.

§73-308. Financing for construction of Oklahoma Animal Disease Diagnostic Laboratory.

§73-311. Issuance of revenue bonds.

§73-315. Substance abuse treatment center – Construction costs and fees.

§73-321. Improvements to Samuel Layton Building - Funding.

§73-332. Renovation of the Wiley Post Historical Building - Funding.

§73-335. Repair and restoration of flood-damaged areas - Acquistion of property - Funding.

§73-336. Zink Dam improvements - Dam construction and stream bank stabilization in Tulsa County - Acquisition of property - Funding.

§73-341. State highway and bridge assets – Financing of construction, maintenance and improvements.

§73-342. State highway and bridge assets – Financing of construction, maintenance and improvements – Fiscal years 2016 through 2023.

§73-343. Financing authority for construction, repair and rehabilitation of flood-control dams.

§73-343.1. Financing authority for construction, repair and rehabilitation of high-hazard dams.

§73-345. Financing authority for State Capitol Building projects - State Capitol Repair Expenditure Oversight Committee

§73-346. Financing Authority for State Capitol Building Projects – Authority to issue obligations.

§73-347. Financing authority for construction of State Health Laboratory.

§73-348. Financing authority for construction of veterans facilities.

§73-349. Financing authority for Oklahoma Department of Corrections construction fund.

§73-350. State highway and bridge assets – Financing authority for construction, maintenance and improvements – Fiscal years 2020 through 2027.

§73-350.1. Financing authority for state highway and bridge assets – Fiscal years 2021 through 2028.

§73-360. Financing authority for construction, repair and rehabilitation of state parks.

§73-371. Financing authority for construction, repair and rehabilitation of Greer Center Facility.

§73-381. Financing authority for acquisition of property, construction, and repair of Oklahoma National Guard Museum.

§73-382. Financing authority for acquisition of property, construction, and repair of Jim Thorpe Office Building.

§73-384. XXX.

§73-391. Financing authority for acquisition of property, construction, and repair for the Oklahoma Historical Society.

§73-701. Authority to issue obligations to acquire real and personal property for the Office of Juvenile Affairs.