SECTION 330:25-1-1. Purpose

  The rules of this Chapter have been adopted for the purpose of complying with the provisions of the Administrative Procedures Act, 75 O.S., Sections 250 et seq. These Program Guidelines shall amend and replace the Program Guidelines for the 1985 Single Family Mortgage Revenue Bonds Loan Program ("1985 Program") adopted by the OHFA Trustees on May 21, 1985, which 1985 Program has been officially renamed as the "1987 Single Family Mortgage Revenue Bond Program" (hereinafter referred to as the "1987 Program"). Implementation of the 1987 Program and the issuance of any debt obligations to provide financing therefor shall be subject to provisions of the United States Internal Revenue Code of 1986, as amended and supplemented (the "Code"), Title 60 Oklahoma Statutes 1981 Sections 176.1 through 176.54 and 176 through 180.3 as amended and supplemented (collectively, the "Act"), and such other provisions of Oklahoma and federal law and the provisions of the Trust Indenture creating OHFA as may be applicable to the 1987 Program and the financing thereof.