SECTION 330:15-9-4. Bond terms

(a)   OHFA, at its discretion, may finance all or a portion of its Single Family Home Ownership Programs with proceeds of bonds issued and sold by OHFA.

(b)   All bonds for each Program are to be sold in compliance with applicable state and federal laws.

(c)   All bonds for each Program may be tax-exempt or taxable or may be a combination of taxable and tax-exempt bonds for each Program, as the Trustees may determine to be necessary under the market conditions prevalent at the time the Program is being developed and as may be determined by the Trustees in their discretion at the time of finalization of the Program.

(d)   The average coupon rate and the maximum interest rate of the bonds for any Program shall not exceed the maximum rate authorized by state law.

(e)   Maximum and average effective interest rates for bonds under each Program shall be set as the Trustees may determine to be necessary under the market conditions prevalent at the time the Program is being developed and as may be determined by the Trustees in their discretion at the time of finalization of the Program in question.

[Source: Amended at 37 Ok Reg 1709, eff 1-1-21]