SECTION 725:15-35-2. Project selection criteria

  The projects authorized by the Commission shall be based on the following criteria:

(1)   project is recommended by the Executive Director of the Oklahoma Tourism and Recreation Department,

(2)   demonstrates the ability to generate revenue or supports revenue generating facilities under the jurisdiction of the Commission,

(3)   provides for the maintenance, construction, or improvement of state facilities under the jurisdiction of the Commission,

(4)   determined to be of statewide significance in purpose,

(5)   has a useful life that equals or exceeds the anticipated debt-service or repayment period,

(6)   is located where the Commission has sufficient ownership of the land or a sufficient balance of leasehold interest or can obtain a sufficient extension of leasehold interest to allow amortization of the debt,

(7)   is of a size and scope that is viable to include in a financing package and does not exceed the ability of the Department to meet debt service or repayment obligations, without sacrificing on-going operation and maintenance needs, and

(8)   is in the overall best interest of the Oklahoma Tourism and Recreation Department.

[Source: Added at 19 Ok Reg 3025, eff 8-13-02 (emergency); Added at 20 Ok Reg 1355, eff 5-27-03]