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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 11. Consolidated Pool and Register |
SECTION 90:15-11-1. Establishment of Consolidated Pool and register
Latest version.
- (a) All pools and registers established and maintained pursuant to Subchapter 9 of this Chapter and the Act terminate at 5:00 p.m. on September 1st of each calendar year. After 8:00 a.m. on September 2nd to 9:00 a.m. on the date designated in the Act a Consolidated Pool and register is established and maintained for purposes of issuing confirmations.(b) All uncommitted state ceiling amounts remaining in the Pools established by the Act, as of 5:00 p.m. on September 1st of each calendar year, are transferred to the Consolidated Pool on September 2nd of each calendar year. Uncommitted state ceiling amounts represent the difference between the sum of the individual state ceiling pool set-aside amounts and outstanding confirmations plus final certifications. In addition, any committed state ceiling amounts from the pools that become uncommitted after September 1st through the term of the Consolidated Pool are transferred to the Consolidated Pool.