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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 90. Council of Bond Oversight |
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Chapter 10. Administration of the Oklahoma Bond Oversight and Reform Act |
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Subchapter 11. Credit Enhancement Reserve Fund Applications |
SECTION 90:10-11-1. General
Latest version.
- When the Oklahoma Development Finance Authority ("ODFA") submits an application for approval of a Credit Enhancement Reserve Fund ("Fund") financing, the Council shall evaluate the application for approval of the issuance of the ODFA's underlying obligation, and the request for coverage by the Fund, as two (2) separate matters. The issuance of the underlying obligation shall be evaluated using the criteria and standards contained in Subchapter 7 [90:10-7]. The Application for the granting of credit enhancement by the Fund shall be considered by the Council using the standards and criteria of this subchapter.