Oklahoma § 74-5063.4h Debt-service reserve.

Oklahoma Statutes

§ 74-5063.4h — Debt-service reserve.

Oklahoma § 74-5063.4h

Title 74State Government

This text of Oklahoma § 74-5063.4h (Debt-service reserve.) 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. 74, § 74-5063.4h (2026).

Text

To establish a debt-service reserve for those revenue bonds approved for Credit Enhancement Reserve Fund insurance by the Bond Oversight Commissions prior to June 9, 1990, the Oklahoma Development Finance Authority may increase the amounts of credit enhancement, the revenue bonds and the underlying loans in an amount sufficient to provide a cash reserve or to secure a letter of credit or surety bond equal to six-months' principal and interest on the revenue bonds, plus a rounding factor if necessary. The total amount of any such increase shall not exceed ten percent (10%) of the revenue bond amount approved by the Commissions.

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To establish a debt-service reserve for those revenue bonds approved for Credit Enhancement Reserve Fund insurance by the Bond Oversight Commissions prior to June 9, 1990, the Oklahoma Development Finance Authority may increase the amounts of credit enhancement, the revenue bonds and the underlying loans in an amount sufficient to provide a cash reserve or to secure a letter of credit or surety bond equal to six-months' principal and interest on the revenue bonds, plus a rounding factor if necessary. The total amount of any such increase shall not exceed ten percent (10%) of the revenue bond amount approved by the Commissions.