A. In addition to any other authorization provided by law, the Oklahoma Capitol Improvement Authority is authorized to issue obligations to acquire real property, together with improvements located thereon, and personal property to construct improvements to real property and to provide funding for repairs, refurbishments, and improvements to real and personal property of the Jim Thorpe Office Building and associated furniture, fixtures, and equipment in a total amount not to exceed Seventy Million Dollars ($70,000,000.00). The funds shall be used for the renovation, repair, and remodeling of the Jim Thorpe Office Building.
B. The Authority may hold title to the property and improvements until such time as any obligations issued for this purpose are retired or defeased and may lease the property and improvements to the Office of Management and Enterprise Services. Upon final redemption or defeasance of the obligations created pursuant to this section, title to the property and improvements shall be transferred from the Oklahoma Capitol Improvement Authority to the Office of Management and Enterprise Services.
C. For the purposes of paying the costs for construction of the real property and improvements, 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 property and improvements and, in anticipation of the collection of such income and revenues, to issue negotiable obligations in a total amount not to exceed Seventy Million Dollars ($70,000,000.00) whether issued in one or more series. The Authority is authorized to capitalize interest on the obligations issued pursuant to this section for a period of not to exceed one (1) year from the date of issuance. For subsequent fiscal years, it is the intent of the Legislature to appropriate to the Office of Management and Enterprise Services sufficient monies to make rental payments for the purpose of retiring the obligations created pursuant to this section. To the extent funds are available from the proceeds of the borrowing authorized by this subsection, the Oklahoma Capitol Improvement Authority shall provide for the payment of professional fees and associated costs related to the project authorized in subsection A of this section; provided, that no such fees or costs may be paid if such payments would jeopardize the tax-advantaged status of the bonds under federal law.
D. The Authority may issue obligations in one or more series and in conjunction with other issues of the Authority. The Authority is authorized to hire bond counsel, financial consultants, and such 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.
E. 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-five (25) years from the first principal maturity date.
F. 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.
G. 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.
H. The Authority may direct the investment of all monies in any funds or accounts created in connection with the offering of the obligations authorized under this section. Such 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.
I. 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.
J. Unless at least fifty percent (50%) of the proceeds authorized by the provisions of this section have been obtained by sale of obligations by the Authority within three (3) years from the effective date of this act, the provisions of this section shall cease to have the force or effect of law with respect to any further issuance of obligations by the Authority otherwise authorized by this section. The provisions of this subsection shall not be construed to limit the liability of the Authority with respect to obligations issued pursuant to this section if the obligations were issued prior to the termination of the remaining issuing capacity nor shall the provisions of this subsection be construed in any way to impair rights of any person or entity which has purchased any obligations of the Authority pursuant to the provisions of this section which were authorized at the time of such purchase.
K. There is hereby created a Jim Thorpe Repair Expenditure Oversight Committee. The proceeds from the sale of obligations issued pursuant to the provisions of this section that are needed for repairs to the interior and exterior of the Jim Thorpe Office Building shall be subject to the approval of the Jim Thorpe Repair Expenditure Oversight Committee; provided, however, the expenditure of those proceeds shall be subject to a request for proposal process.
The Committee shall be composed of nine (9) members as follows:
1. Three persons to be appointed by the Governor, one of whom shall serve as chair of the Committee;
2. Three legislators to be appointed by the Speaker of the Oklahoma House of Representatives, two of whom shall be members of the majority political party and one of whom shall be a member of the minority political party; and
3. Three legislators to be appointed by the President Pro Tempore of the Oklahoma State Senate, two of whom shall be members of the majority political party and one of whom shall be a member of the minority political party. Five members of the Committee shall constitute a quorum and the vote of five members shall be necessary for any action taken by the Committee. The Committee shall be staffed by employees of the Office of Management and Enterprise Services. The Committee shall be subject to the Oklahoma Open Meeting Act.
L. The Committee shall deliver a preliminary plan for the renovation, repair, and remodeling of the Jim Thorpe Office Building to the Director of the Office of Management and Enterprise Services no later than December 31, 2022. The preliminary plan shall include the following components:
1. Establishment of the Office of Management and Enterprise Services' goal and criteria for use by the vendor; and
2. Selection criteria for the design-build team vendor to be selected through a Request For Proposal process.
M. Following receipt of the preliminary plan as approved by the Committee, the Office of Management and Enterprise Services shall solicit Requests For Proposals to select the vendor for the project.
N. The Committee shall deliver a final plan to the Director of the Office of Management and Enterprise Services no later than June 30, 2023. The final plan shall include the following components:
1. Approval of the final scope of work developed by the vendor; and
2. Approval of the project phasing developed by the vendor.
O. Following delivery of the final plan, the Committee shall continue to oversee the expenditure of proceeds from the sale of obligations issued pursuant to the provisions of this section until completion of the renovation, repair, and remodeling of the Jim Thorpe Office Building. The Committee may also propose and approve amendments to the plan as it deems appropriate.
P. The Director of the Office of Management and Enterprise Services shall have responsibility to substantially implement the plan as presented by the Committee.
Added by Laws 2022, c. 320, § 1, emerg. eff. May 25, 2022.
Structure Oklahoma Statutes
Title 73. State Capital and Capitol Building
§73-1. Seat of government and capitol established.
§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.
§73-22. 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.
§73-73. Records and journals - Public inspection - Confidentiality.
§73-83. Capitol-Medical Center Improvement and Zoning District - Creation and boundaries.
§73-83.1. Capitol-Medical Center Improvement and Zoning Commission.
§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.
§73-83.11. Corporate status and powers of Commission.
§73-83.12. Citizens' Advisory Committee.
§73-83.13. Complaint - Notice - Hearing - Orders - Service of order, etc.
§73-96. Regulation and enforcement.
§73-98.7. Financial report - Termination of commission, transfer of powers.
§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.
§73-152. 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.
§73-156.1. 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.
§73-162. 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.
§73-163.3. 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.
§73-168.6. Construction and improvement of state highway system - Issuance of obligations.
§73-168.7. Acquisition of property for Bureau of Investigation.
§73-168.9. Purchase of real property for public hunting, fishing and trapping areas.
§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.
§73-176. 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.
§73-201. 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.
§73-210. Allen Wright Memorial Library Building.
§73-212. M.C. Connors Building.
§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.
§73-304. Completion of Native American Cultural Center Museum - Issuance of obligations.
§73-306. Financing for construction of capital dome.
§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.
§73-341. State highway and bridge assets – Financing of construction, maintenance and improvements.
§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.
§73-346. 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.
§73-350.1. 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.