SECTION 150:1-25-1. Definitions

  The following words or terms, when used in this subchapter, shall have the following meaning unless the context clearly indicates otherwise:

"Financial assistance" means the act, process or program of the Department's participation in the matching, and/or contracting for, financial assistance funds for local project funding contracts.

"Local project funding contract" means an agreement between a state agency and either a local government or private entity, or both, in which the state agency agrees to provide funding to the local government or private entity which agrees to accomplish a public purpose. In addition, the direct benefits of such a contract accrue primarily to the local population rather than the state as a whole. If a state appropriation were to be made directly for the purpose of the contract and to the funding recipient, such appropriation would be a special law and conform to the requirements of Okla. Const. Art. V, 32 and 46. Local project funding contracts do not include contracts subject to state competitive bidding requirements. [Executive order 88-16]