- A $100 million infrastructure Pool is created for bonding local governments for:
- County/municipal roads & bridges
- Water treatment facilities
- Solid waste management facilities
- Railway and utility systems
- Other infrastructure assets owned by local government
- Bonds issued by the infrastructure pool are financed or repaid from sales taxes voted by local community.
- A $100 million Economic Development Pool is created for financing to local governments in conjunction with a for-profit entity economic development projects in the state.
- Debt issued through the Economic Development Pool may use withholding taxes generated by the for-profit entity to repay the debt.
- Requires a letter of determination from the Oklahoma Department of Commerce that the project is net benefit positive for the state.
- 65% of the net proceeds from both the Infrastructure Pool and the Economic Development Pool must be used by municipalities that do not exceed 300,000 people.
- The remaining 35% may be used for any eligible local government, including Tulsa and Oklahoma City.
- Effective July 1, 2009
- Issuing capacity by Oklahoma Development Finance Authority (ODFA) is renewable.
Economic Development Pooled Financing – Bond Financing
Economic Development Pooled Finance Application – Self Financing
Pooled Finance Infrastructure Application
The materials contained on this website have been prepared by the Oklahoma Department of Commerce for informational purposes only and do not constitute legal or tax advice. This information is subject to change based on judicial interpretation and legislative action. The application of the information is subject to your unique facts and circumstances. YOU SHOULD NOT ACT UPON ANY INFORMATION CONTAINED IN THESE MATERIALS WITHOUT SEEKING YOUR OWN PROFESSIONAL LEGAL AND TAX ADVICE.