Oklahoma § 11-38-120 Designation of tax increment allocation district.

Oklahoma Statutes

§ 11-38-120 — Designation of tax increment allocation district.

Oklahoma § 11-38-120

Title 11Cities And Towns

This text of Oklahoma § 11-38-120 (Designation of tax increment allocation district.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 11, § 11-38-120 (2026).

Text

A.At the time of adoption of an urban renewal plan pursuant to this act, or subsequent thereto, the municipal governing body may designate the urban renewal area to be a tax increment allocation district by either resolution or ordinance.

B.Before a municipality may designate a tax increment allocation district, the municipal governing body shall hold a public hearing thereon, after public notice thereof by publication at least one time not less than fifteen (15) days prior to the date of such public hearing, in a newspaper having general circulation in the area of operation of the municipality, and by posting not less than five public notice signs, each having at least nine (9) square feet of display area, for a period of fifteen (15) successive days including the day of the public hear

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A. At the time of adoption of an urban renewal plan pursuant to this act, or subsequent thereto, the municipal governing body may designate the urban renewal area to be a tax increment allocation district by either resolution or ordinance. B. Before a municipality may designate a tax increment allocation district, the municipal governing body shall hold a public hearing thereon, after public notice thereof by publication at least one time not less than fifteen (15) days prior to the date of such public hearing, in a newspaper having general circulation in the area of operation of the municipality, and by posting not less than five public notice signs, each having at least nine (9) square feet of display area, for a period of fifteen (15) successive days including the day of the public hearing for which notice is being given, in the area to be included in the proposed tax increment allocation district. Public notice may be combined with public notice of a hearing on an urban renewal plan or an amendment thereto. C. Following such hearing, the municipal governing body may designate an urban renewal area to be a tax increment allocation district if it finds that the designation of such district is necessary or desirable in achieving the objectives of one or more urban renewal or urban redevelopment projects.