SECTION 330:30-2-1. Purpose

(a)   The rules of this Chapter have been adopted for the purpose of complying with the provisions of the Administrative Procedures Act, 75 O.S., Section 250 et seq. This Chapter shall be applicable to Oklahoma Housing Finance Agency (OHFA) programs, transactions and activities relating to the financing of multifamily rental Developments with tax exempt bonds and/or taxable bonds (MF Bonds).

(b)   OHFA provides tax exempt and taxable financing for the acquisition, construction, and/or rehabilitation of rental housing Developments which satisfy the goals and requirements of OHFA, and comply with applicable federal and State law. In any given year, the ability of OHFA to provide tax-exempt financing for Developments is contingent upon receipt by OHFA of a tax-exempt bond allocation from the Council of Bond Oversight, through the State of Oklahoma annual private activity allocation.

[Source: Added at 10 Ok Reg 739, eff 1-4-93 (emergency); Added at 10 Ok Reg 2009, eff 5-27-93; Amended at 20 Ok Reg 2411, eff 7-11-03; Amended at 30 Ok Reg 1973, eff 7-31-13; Amended at 33 Ok Reg 1549, eff 10-1-16]