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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 15. Administration of the Oklahoma Private Activity Bond Allocation Act |
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Subchapter 1. General Provisions |
SECTION 90:15-1-1. Purpose and scope
Latest version.
- The State Bond Advisor is responsible for implementing the Oklahoma Private Activity Bond Allocation Act found at 62 O.S., Section 695.21 et seq. The State Bond Advisor is engaged by the Council of Bond Oversight. This Chapter is issued pursuant to the rulemaking authority of the Council of Bond Oversight. In order to provide guidelines to local and state bond issuers which are subject to the Act and wish to issue Private Activity bonds or Mortgage Credit Certificates subject to annual volume ceilings pursuant to federal law, this Chapter establishes pools and registers, including the Consolidated Pool and the Carryforward register, from which certain types of private activity bonds or mortgage credit certificates may be issued, allocation procedures, time frames, and information required on application forms provided by the State Bond Advisor for such entities in order to facilitate the business of the State Bond Advisor and such entities.